Nelson Peltz In Fact Raises His Stake In Legg Mason (LM), But Not Nearly As Much As Rumored

Nelson Peltz Trian Partners General Partner, LLC hedge fund released its 13F for the quarter ended 06/30/2009. Notably Peltz raised his stake in Legg Mason (NYSE: LM), a stock that it was rumored Peltz was busy building a stake in and would push into a sale. The rumors had Peltz buying 12-13 million shares, and he is disclosing far less than that, but it is still interesting that he is upping his stake. Peltz also got in on the BofA (NYSE: BAC) trade.

Notable Movers:

• Lowers stake in Kraft Foods (NYSE: KFT) from 13,195,980 shares to 9,091,536 shares.
  
• New 1,803,597 share stake in Bank of America (NYSE: BAC)
  
• Lowers stake in Dr Pepper Snapple from 7,197,119 shares to 5,967,855 shares.
  
• New 1,081,673 share stake in General Mls Inc. (NYSE: GIS)
  
• Raised staked in Legg Mason (NYSE: LM) from 727,142 to 2,932,108 shares
  
• Wendy's Arbys's (NYSE: WEN) remains the largest position with 74,277,416 shares

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