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 Icahn has withdrawn his requests and the company agreed to nominate former AT&T Inc. (NYSE:T) CEO David Dorman as an independent director.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)

 

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

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 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

12 Most Expensive Countries for Foreign Students

Top 30 Most Influential Women in the World

Top 20 Most Expensive New Year Eve Shows

Top 5 Best Vocational Careers

Top 10 Jobs for 2014 by Salary Gain (Predictions)

Top 5 Digital Trends for 2014

Top 6 Things You Can Do To Increase Your Productivity

Top 9 Trending Smartphones 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!