One share super-investor Carl Icahn is selling

Carl Icahn

Carl Icahn has been selling off shares in First Energy Corporation, reducing his stake by 25%. However, Icahn remains heavily invested in energy companies such as Southwest Gas and Occidental Petroleum. 

This was revealed in Icahn’s 13F filing with the US Securities and Exchange Commission, which is required for all investors who manage over $100 million in funds.

Icahn is the founder and controlling shareholder of Icahn Enterprises, a diversified holding company with interests in various industries, including manufacturing, energy, and healthcare. 

Icahn is known for his aggressive investment style and willingness to take on corporate management. 

He has been involved in several high-profile corporate battles, including his successful campaign to break up RJR Nabisco and his failed attempt to take over Time Warner.

Icahn was born in Queens, New York, in 1936. He attended Princeton University, where he studied philosophy. 

After graduating from Princeton, Icahn worked as a stockbroker for several years before starting his own investment firm in 1968. 

Icahn quickly became known for his aggressive style, which often involved buying large stakes in companies and then pressuring management to make changes to benefit shareholders.

In the 1980s, Icahn became one of the most famous investors in the United States and eventually became one of the wealthiest people in the world.

He is worth $8.4 billion and manages a portfolio worth just over $15 billion. 

Icahn’s net worth has drastically declined in 2023 as the value of his company, Icahn Enterprises, has plummeted 53% this year. This has reduced his net worth by over $2 billion.

Earlier this year, infamous short-seller Hindenburg accused the company of “Ponzi-like” behaviour.

Hindenburg Research, led by Nathan Anderson, took a public short position in May, alleging Icahn Enterprises was “significantly overvalued” and propped up by a “Ponzi-like economic structure” with “inflated” investment returns.

Carl Icahn’s portfolio

A significant portion of Icahn’s portfolio is held in his own company, Icahn Enterprises, which is worth over $9.51 billion. The rest of the portfolio amounts to less than $6 billion.

The decline in the share price of Icahn Enterprises led Icahn to buy up shares in his own company, increasing his holding by 11.5%. 

Icahn retained a substantial position in Occidental Petroleum and added to his investment in Southwest Gas Holdings.

While energy companies comprise four of Icahn’s five largest holdings, he cut his stake in First Energy Corporation by over a quarter. The rest of the portfolio remained unchanged. 

CompanyPercent of portfolioChangeValue
Icahn Enterprises 62.71%Add 11.5%$9,710,378,000
CVR Energy 13.78%No change$2,133,114,000
Southwest Gas Holdings4.46%Add 3.08%$690,264,000
Occidental Petroleum3.97%No change$615,236,000
First Energy Corp.3.54%Reduce 25.71%$547,849,000
Xerox Holdings Corp.3.29%No change$509,913,000
Bausch Health1.79%No change$277,769,000
Newell Brands1.68%No change$260,876,000
Dana1.57%No change$242,871,000
Conduent0.84%No change$129,708,000
Crown Holdings0.58%No change$90,353,000
Illumina Inc. 0.52%No change$80,621,000
SandRidge Energy0.47%No change$73,487,000
Bausch + Lomb Corp.0.45%No change$70,245,000
International Flavours and Fragrances0.33%No change$51,297,000
Source: Dataroma


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