Billionaire investor Nelson Peltz has opened a new position in a stock, and he says he has more to buy. But he's not tipping his hand.
"We've started buying about two weeks ago," he said Monday on CNBC's "Squawk on the Street."
The activist investor would not disclose the name of the firm's new holding, but said, "we bought quite a bit of stock and we've got quite a bit more to buy."
"I hope that we will be able to talk in confidence with management and the board before it comes to you and the press," he said on CNBC. Peltz said Trian hasn't approached the company yet.
Hedge fund performance has generally lagged the broader market for much of the year. The HFRI Fund Weighted Composite Index was up 3.6 percent between the beginning of the year to October, while the was up 5.85 percent over that time period.
But Peltz isn't complaining.
"We've had a wonderful year this year," Peltz also said.
The S&P is now up about 8 percent year-to-date after surging to record highs following President-elect Donald Trump's election win.
"I think the Trump rally is celebrating that capitalism is back," Peltz said.
—CNBC's Jeff Cox contributed to this report.