Carl Icahn’s Largest Moves During the First Quarter

In the latest round of 13F filings, billionaire Carl Icahn reported his equity portfolio as of the end of the first quarter of 2014. The aggregate value of the portfolio amounts to $32.93 billion, which represents an increase from $30.56 billion held at the end of last year. Overall, the equity portfolio remained unchanged, Mr. Icahn holds a total of 19 positions, out of which he reduced the holding in one company, and raised his exposure to three others.

Carl Icahn - Icahn Capital Lp

At the same time, the 13F filing revealed one new stock on which Mr. Icahn was bullish during the first three months of the year: eBay Inc (NASDAQ:EBAY). His holding amasses around 27.8 million shares, with a total value of $1.54 billion. The stock of eBay Inc (NASDAQ:EBAY) remained basically flat during the January-March period.

Earlier in March Carl Icahn asked the Board of Directors of eBay to nominate two employees of his fund, Icahn Capital LP to be elected for the company’s board and for the separation of eBay Inc (NASDAQ:EBAY)’s PayPal e-commerce business. After negotiations between Mr. Icahn and eBay’s CEO John Donahoe the parties came to an agreement. Mr. Icahn has withdrawn his requests and the company agreed to nominate former AT&T Inc. (NYSE:T) CEO David Dorman as an independent director.

However, in a statement issued by eBay, Icahn was quoted saying that he still intends to pursue the spin-off of PayPal and will continue discussing with Donahoe on different matters related to the company.

Glenview Capital Management, led by Larry Robbins also initiated a $297.96 million stake in eBay, which amasses 5.39 million shares. Rob Citrone‘s Discovery Capital Management is another shareholder with 11.39 million shares, worth $629.41 million.

In addition, Carl Icahn boosted his exposure to Apple Inc. (NASDAQ:AAPL). He reported holding 7.54 million shares of the company, up by around 60% on the quarter, with a reported value of close to $4.05 billion. Jim Simons‘ Renaissance Technologies has initiated a stake in the company reporting a $440.86 million position, which contains around 821,400 shares.

Earlier this year, Mr. Icahn urged Apple Inc. (NASDAQ:AAPL) to increase its buyback program and return more capital to shareholders. At the end of April Apple’s Board approved increasing the program to return capital to shareholders planning to use around $130 billion of cash, by the end of 2015. Out of this amount, Apple Inc. (NASDAQ:AAPL) plans to use $90 billion for buying back its stock (up from $60 billion disclosed earlier), and it has increased its quarterly dividend by 8% to $3.29 per share.

Mr. Icahn, as it was mentioned above, reduced his holding in one company, Netflix, Inc. (NASDAQ:NFLX). In Netflix, the billionaire currently owns some 2.24 million shares, worth $790.17 million, the position being reduced by around 421,000 shares. The stock of the $20.5 billion Internet television network declined by around 7% since the beginning of the year. Philippe Laffont‘s Coatue Management, on the other hand, raised its stake in Netflix, Inc. (NASDAQ:NFLX) by some 477,600 shares to 1.54 million shares, worth $543.61 million.

Disclosure: none

Recommended Reading:

Carl Icahn Further Increases Stake In Navistar International Corp (NAV)

Carl Icahn To Get Three More Board Seats at Herbalife Ltd. (HLF)

Carl Icahn’s Interview on eBay Inc (EBAY)

 

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 10 Largest Pharmaceutical Companies In the World

The 10 Most Expensive Android Apps

The 9 Most Expensive Designer Bags in the World

The 7 Most Expensive Real Estate in the World

The 10 Most Expensive eBay Items Ever Sold

The 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

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!