Beyond Netflix: Carl Icahn's Q2 Moves Included Icahn Enterprises, Gannett & Cheniere Energy
Carl Icahn recently filed his 13F for the second quarter of the year, disclosing his long equity stakes as of June 30, 2015. On top of his much-discussed Netflix, Inc. (NASDAQ: NFLX) closure, the quarter saw three more moves from the billionaire.
Following these transactions, Icahn’s equity portfolio’s value fell from $32.05 billion to $31.2 billion. This concentrated portfolio comprises 21 stocks, and is mostly focused on information technology and industrials stocks, each of which account for 35 percent of the portfolio’s total value.
Icahn’s most talked-about move of the quarter was the closing of his position in Netflix. Having juiced the bet enough, the investor decided to sell all of his 9,883,482 shares (the number reflects the post-split amount of shares), worth more than half a billion dollars.
Also leaving Netflix is Philippe Laffont. His fund, Coatue Management sold 10,335,920 shares of the company over the second quarter, taking its holdings to 2,006,095 shares. Another hedge fund that followed Icahn’s footsteps is Eashwar Krishnan’s Tybourne Capital Management, which disposed of all of its 2,238,187 (post-split) shares over the second quarter.
On the bullish side, Icahn Enterprises LP (NASDAQ: IEP) and Apple Inc. (NASDAQ: AAPL) are also worth watching. Between April and June, inclusive, Icahn purchased 3,474,609 shares of Icahn Enterprises; he last disclosed ownership of 112,285,454 shares of the company. As one might expect, this position makes it the largest institutional investor in the holding company.
The stake in Apple, on the other hand, remained untouched, and continued to occupy the second spot in the billionaire’s list. However, with 52,760,848 shares, worth about $6.6 billion, Icahn did not make it to the top 10 institutional investors list. The largest investor continues to be the Vanguard Group, which owns 327,508,974 shares of the company, or roughly $41 billion in stock.
Related Link: Cheniere Energy Spikes After Carl Icahn Goes Long
Finally, let’s take a look at the two new positions initiated over the second quarter: Gannett Co Inc (NYSE: GCI) and Cheniere Energy, Inc. (NYSE: LNG). Over the period, Icahn invested purchased almost $180 million in these companies’ stock. He last declared holding 7,483,683 shares of Gannett and 1,075,000 shares of Cheniere.
A couple of weeks ago, the investor declared a huge boost in his exposure to Cheniere. He now holds 19,353,530 shares of the company; this makes him the largest institutional investor, trailed by the Vanguard Group, with 15,551,615 shares, and Seth Klarman’s Baupost Group, with 15,365,230 shares.
The Vanguard Group is also Gannett’s biggest institutional shareholder, and may be deemed beneficial ownership of 8,124,847 shares of the small-cap media and marketing solutions company.
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