Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Billionaire Carl Icahn’s Best Activist Campaigns To Imitate

Next in line is Gannett Co., Inc. (NYSE:GCI), the activist campaign for which was started by Icahn in the third quarter of 2014. 13D initiated a stake in the company around the same time and after bulking up the stake over the next two quarters, the fund currently holds some 246,600 shares of Gannett Co., Inc. (NYSE:GCI) valued at $9.14 million. Icahn Capital’s holding in the $8.53 billion media and marketing solutions company currently amounts to 14.97 million shares valued at $554.99 million, representing 6.59% of the company’s outstanding stock. The campaign in Gannett Co., Inc. (NYSE:GCI) marks another success for Icahn, as the company’s stock has appreciated by more than 16% since the activist’s intervention. The company’s focus on expanding its digital and broadcasting  footprint while its newspaper industry continues to shrink has borne fruit. In this spirit, Gannett Co., Inc. (NYSE:GCI) is spinning off its publishing segment this  coming Monday.  Aside from Icahn Capital, John W. Rogers‘ Ariel Investments is the largest stockholder of the company in our database, holding about 5.36 million shares valued at $198.90 million.

Kenneth Squire
Kenneth Squire
13D Management

Icahn Capital’s stake in Nuance Communications Inc. (NASDAQ:NUAN) represents almost 19% of the company’s outstanding shares. The holding comprises 60.78 million shares valued at $872.26 million. Although the fund initiated a sizable passive stake in the $5.71 billion provider of voice and language solutions in the first quarter of 2013, the activist campaign started towards the end of the third quarter of that year. The stock is up by 2.02% since then. 13D initiated a stake in Nuance Communications Inc. (NASDAQ:NUAN) during the fourth quarter of 2013 and currently holds about 413,600 shares valued at $5.94 million. Among the funds that we track, Ahmet Okumus‘ Okumus Fund Management is the largest stockholder of Nuance Communications Inc. (NASDAQ:NUAN) after Icahn, owning some 5.11 million shares valued at $73.32 million.

Towards the end of the fourth quarter of 2014, Icahn initiated an activist stake in Chesapeake Energy Corporation (NYSE:CHK). Lower oil prices have put a dent in the energy company’s profitability and its stock is down by about 54% since Icahn added the company to his fund’s portfolio. After a 9% increase in the first quarter, the current holding comprises 73.05 million shares of Chesapeake Energy Corporation (NYSE:CHK) valued at $1.03 billion. 13D on the other hand owns about 374,500 shares valued at $5.3 million. Mason Hawkins‘ Southeastern Asset Management is the second-largest stockholder of Chesapeake Energy Corporation (NYSE:CHK), with 64.20 million shares valued at $909.08 million.

Though he did succeed in pushing it towards a split, another one of Icahn’s campaigns that hasn’t necessarily been a success so far involves Manitowoc Company Inc (NYSE:MTW), in which an activist stake was taken at the end of last year. The $2.67 billion capital goods manufacturer’s stock has depreciated by 11% so far this year. Icahn Capital holds about 10.58 million shares of the company, valued at $228.16 million. The stake represents 7.78% of the company’s outstanding stock. 13D cut its stake in the company by 11% during the first quarter to 358,100 shares valued at $7.72 million. Larry Robbins‘ Glenview Capital holds about 8.61 million shares of Manitowoc Company Inc (NYSE:MTW) valued at $185.72 million.

Disclosure: None

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.