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Elliott Management is banking on striking up a good working relationship with the powerful Agnelli family as part of a new investment in truckmaker CNH Industrial.

Several media sources reported Monday that Elliott had built a 3% stake in the $15 billion company, which is listed in both New York and Milan. The Agnelli family owns 42% of the company’s voting rights.

CNH is currently in the process of breaking up its agricultural and commercial segments and Elliott is thought to see value in the split. It has held constructive talks with CNH’s management and Exor, the Agnelli family holding company, Bloomberg reported, citing sources close to the matter.

Elliott made its investment earlier in the year but the news comes just a week after it announced a $3.2 billion stake in AT&T.

Shares in London-based, Netherlands-registered CNH rose 1.7% on Monday at 3 p.m., having opened much lower with the rest of the market on spiking oil prices and geopolitical concerns connected to the attack on Saudi oil facilities over the weekend.