Carl Icahn’s Icahn Capital Reported 9.8% Activist Stake in $NAV

Carl Icahn’s Icahn Capital filed 13D on October 13th for its 9.8% activist stake in Navistar International Corporation (NAV). Carl Icahn did not have any share in NAV in the second quarter, so this is a brand new position in his portfolio. Icahn Capital now has 7.11 million shares in NAV, including shares underlying call options. According to the 13D filing, Carl Icahn began his transactions since August 23rd after NAV was hammered by the Greek debt spread. From August 23rd to September 2nd, Carl Icahn bought the common stocks at from $36.67 to $40.97 per share. He later bought the call options with the exercise price of $25.68 from September 6th to October 13th. After Carl Icahn’s declaration on October 13th, NAV surges 7% today and is closed at $41.53.

Carl Icahn

NAV was a popular stock loved by hedge funds in the second quarter. Thirty seven hedge funds in our list had the stock in their portfolios. Alec Litowitz and Ross Laser’s Magnetar Capital had 24.81 million shares, corresponding to a more than 30% stake in the stock. Jeffrey Altman’s Owl Creek Asset Management had 6.87 million shares, or 9.47% stake. Several famous hedge funds also had some positions in NAV. Jim Simons’ Renaissance Technologies had 437 thousand shares. Steven Cohen’s Sac Capital Advisors had 74 thousand shares, and Ken Griffin’s Citadel Investment Group had 55 thousand shares.

Carl Icahn is an American business magnate and legendary corporate raider. He began his career on Wall Street in 1961. In 2007, he founded Icahn Capital LP, which is a wholly-owned subsidiary of Icahn Enterprises L.P. Carl Icahn recently announced that he will be returning $1.76 Billion back to his investors. He will continue investing his own money. He is an excellent insider to imitate because his moves are usually bigger than an average hedge fund’s and he has to report them more promptly on 13D forms because he usually takes activist positions.

According to Yahoo! Finance, Navistar International Corporation engages in manufacturing and selling “commercial and military trucks, buses, diesel engines, recreational vehicles, and chassis”. It operates in Truck segment, Engine segment, Parts segment, and Financial Services segment. The company mainly markets its products through dealers and distributors in the United States, Canada, Mexico, Brazil, Argentina, and India.

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top 6 Tax Scams and How to Protect Yourself

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!