Nelson Peltz's Trian Fund Management investment fund reportedly no longer owns shares in PepsiCo.

Trian announced the purchase of US$146m of PepsiCo stock in a filing on Tuesday (15 November), adding to speculation that the company may look at splitting its snacks and drinks divisions. Peltz purchased 2.36m shares, representing 0.15% of PepsiCo's outstanding shares.

However, US television network CNBC reported on its Twitter feed today that Peltz had sold the stock. "Nelson Peltz no longer owns shares of PepsiCo - Peltz had just purchased PEP shares for a trade," it wrote.

Speculation has grown in recent weeks that PepsiCo could follow fellow US food maker Kraft Foods and split itself in two.

A number of Wall Street analysts have argued that a split would improve the value of PepsiCo's shares and there have been claims that some of the company's investors agree.

Meanwhile, The New York Post reported yesterday that a bloc of PepsiCo directors were pushing for the company's board to examine the idea of a split. Chairman and CEO Indra Nooyi is reported to be against the notion of a split and The New York Post reported that the PepsiCo chief could be set to announce two major acquisitions that could bolster the company's share price.

PepsiCo's share price was down 1.83% to $63.90 at 12:05 ET today.

Trian Fund Management could not be reached for comment.