Carl Icahn

Carl Icahn

Last Update: 2014-08-20

Number of Stocks: 19
Number of New Stocks: 1

Total Value: $32,532 Mil
Q/Q Turnover: 1%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Carl Icahn Watch

  • Icahn and Lions Gate Entertainment Feud Intensifies

    “Lions Gate Entertainment Corp. may be flirting with bankruptcy, according to Carl Icahn, the billionaire investor attempting a hostile takeover of the movie studio.” – Business News Network 6/11/2010


    The contentious battle over control of Lions Gate Entertainment (LGF) has heated up between activist investor Carl Icahn and the current board of directors. The two parties have exchanged a series of open-letters regarding Icahn’s hostile bid to buy the company for $7 per share for the Vancouver-based movie studio and television producing unit; a price that the board believes is much too low. The latest development is that Icahn has made it known that he will not extend his $7 offer past the current deadline next Wednesday. Furthermore, he is looking to acquire 6.4 million shares currently held by Mark Cuban, which would push Icahn’s stake over the 20% threshold that may trigger a default on some of its debts. The Dallas Maverick’s owner has hinted that he may be interested in tendering his shares to Icahn. It seems the two parties are in a game of chicken and the remaining shareholders are just along for the ride.  


  • View on Carl Icahn

    Imp read on Carl Icahn Mentor Graphics Investment http://www.kagazz.com/docs/135/thoughts-on-carl-icahn-mentor-graphics-investment.html  


  • Carl Icahn Top Holdings: Motorola Inc., Biogen Idec Inc, Genzyme Corp. , Amylin Pharmaceuticals Inc. Lions Gate Entertainment Corp., TakeTwo Interactive Software Inc.

    Carl Icahn is known for his activist investing and his investment performance has been good: since inception of 2004, his partnership Icahn Captial returned a total of 41.3%, beating S&P500’s 5.9%. In 2009, the partnership returned 31.9%, also beating S&P 500, as he disclosed in his 4Q09 letter to shareholders (see a copy at the end of this articles).

    But Icahn did not necessarily achieved his good performance through stocks. According to GuruFocus, which tracks Icahn Capital Management’s long equity position together with that of 70+ other investment gurus, as of March 31, 2010, he held only 3.18 $billion allocated among 16 stocks. We know Icahn manages far more money than this amount. long equity position was only 15.4% of his total portfolio at Icahn Capital L.P.. The rest is long credit (34.6%), short equity and short credit.  


  • Carl Icahn Buys Chesapeake Energy Corp., Genzyme Corp., Motorola Inc., Taketwo Interactive Software Inc., Sells Blockbuster Inc., CIT Group Inc.

    Activist investor Carl Icahn likes to push restructuring in companies that are in distress. Interestingly, he just got into Chesapeake Energy. He got out of two positions: Blockbuster Inc., CIT Group Inc. Maybe he is tired of losing money with Blockbuster Inc. This is the Q1 portfolio update of Carl Icahn. Carl Icahn buys Chesapeake Energy Corp., sells Blockbuster Inc., Cit Group Inc., Ultrashort Real Estate during the 3-months ended 03/31/2010, according to the most recent filings of his investment company, Icahn Capital Management LP. Carl Icahn owns 16 stocks with a total value of $3.2 billion. These are the details of the buys and sells.

    For the details of Carl Icahn's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Carl+Icahn  


  • Carl Icahn Comments On His Offer Lion Gate Entertainment Corp.

    Activist Investor Carl Icahn is making his move again. This time he is on the case of Lion Gate Entertainment Corp. (LGF). Looking to block Lions Gate from MGM Deal, Carl Icahn offered to buy the rest of the shares of LGF for $6.00 on March 19, 2010, a price only pennies above LGF’s then price. The offer, naturally, was rejected by the management.

    I think all the future shareholder-manager conflict should be debated on television:  


  • Lions Gate: Worth More Than Icahn’s Offering

    Lions Gate Entertainment (LGF), a motion picture and television programming studio, is at the center of an increasingly contentious takeover attempt by activist investor Carl Icahn. For starters, Icahn already owns about 19% of the company, but he is unsatisfied with the current managements’ plans for a merger with fellow movie studio Metro-Goldwyn-Mayer, Inc (aka MGM) which put itself up for sale after failing to make interest payments last year. So, on March 19th Icahn offered $6 per share to buy the rest of the studio, only three cents better than the previous day’s closing price. The Lions Gate board has roundly rejected that offering price from Icahn calling it “financially inadequate and coercive,” and urged investors to reject the bid as well.

    Icahn, never one to shy away from a fight, issued a statement this morning where he says Lions Gate management has failed investors as evidenced by the stagnant stock price. The company’s stock has been in a holding pattern, as the rest of the market has rallied over the last year Lions Gate has returned a measly 11% in the last twelve months.  


  • Carl Icahn Publishes Letter to Investors and Comments on CIT Group Inc., Motorola Inc., Biogen Idec Inc., Trump Entertainment Resorts Inc.

    Carl Icahn is known for his activist investing. Thanks to Zerohedge who made a copy of Icahn 4Q09 Letter to Icahn Partners LP Investors available at www.scribd.com. One can get a glimpse of what’s happened with his investments and what goes on in his mind. GuruFocus tracks Icahn Capital Management’s long equity position. As of December 31, 2009, we record 2.87 $billion allocated among 18 stocks. We know Icahn manages far more money than this amount. As disclosed in his letter (Page 3), long equity position is only 15.4% of the total portfolio. The rest is long credit (34.6%), short equity and short credit. His investment performance has been good: since inception of 2004, the partnership returned a total of 41.3%, beating S&P500’s 5.9%. In 2009, the partnership returned 31.9%, also beating S&P 500.

    As for the future, Icahn seems to be very reserved. He is definitely not forecasting a “V”-shaped economic recovery, rather, he sees possibility of a double-dip recession, and the equity and credit market simply went ahead of the fundamental in 2009. As he stated in the letter (Page 6):
    The contrast between the investment environments of 2008 and 2009 could hardly be more stark. 2008 was defined by an utter lack of liquidity, while 2009 came to be a year of excess liquidity. With cash yielding close to nothing last year, yield-hungry investors felt that they could no longer sit on the sidelines. They plunged head first into both equity and credit, aggressively driving up the markets. Yet where and what were the signs suggesting that the fundamentals had changed and that the economy was on the mend? While some economic indicators showed signs of improvement towards year end, a key indicator, unemployment, still remains high.
    Icahn will not declare no victory unless employment picks up and corporate balance sheets cleaned up:
    We belive that until employment picks up, both the housing market and the overall economy will remain weak as debt-laden consumers will be unwilling (and unable) to open their wallets. Many consumers seem down-right scared to spend money. In short, we believe that a true economic recovery will require a healthier and more confident consumer. In addition, many corporate balance sheets are still impaired with too much leverage. I believe that this combination of obstacles will not be bypassed as quickly and easily as many seem to think.
    One has to question whether Icahn is talking down the economy as a gloom and doom economy is actually good for a distressed investor like himself – a point he is very frank about in the letter:
    an environment in which good companies with bad balance sheets are forced to file and reorganize is an environment in which we have the ability to earn outsized returns. Our team of investment and legal professionals is certainly one of the best in terms of its understanding of distressed debt, distressed of control situation, as well as the bankruptcy process.
    The current environment is ripe for some M&A activities, another area activist Icahn knows how to create value for his investors. Particularly, he sees marriages between cash-rich big pharma and tech-savvy biotech companies:
    One benefit of the increase in liquidity is a potential uptick in M&A activity due to the fact that some companies may begin to feel cash-rich while others may find themselves on the auction block. This paradigm is tailor made for the activist investor. While we don’t believe that the stars have aligned quit yet in many sectors, a notable exception is biotech. Big pharma is notoriously cash-rich, which means they are not dependent on financing, and we believe their appetite for biotech is as big as ever.
    Icahn also commented on the individual investments in his portfolio:  


  • Take-Two Interactive: The Icahn Turnaround Begins

    Shares of video game maker Take-Two Interactive (TTWO) are surging in after hours trading following a much better than expected fiscal first quarter. Earnings per share came in at a loss of $.31 per share, which was twenty cents better than the consensus of analysts’ estimates. Perhaps more impressive was revenue of $163.2 million which easily topped TTWO’s guidance of $90-$140 million (although analysts thought it was overly conservative at the time). Also announced, the company will be cutting up to 15% of headcount to save $8 million this year and $15 million annually in what they termed as “targeted restructuring.”

    Take-Two has streamlined its focus in the quarter as the sale of Jack of All Games to SYNNEX (SNX) was completed in the quarter, and netted the company up to $44 million. For the quarter ahead, Take-Two is looking for sales of $250-$300 million with profit of 20-30 cents per share. That guidance compares favorably to analysts’ expectations for EPS of 7 cents on$267 million in revenue. For the full year, TTWO still sees losses of 40-60 cents per share, while the Street has estimated a loss of 56 cents.  


  • Carl Icahn's Top Activist Plays: Motorola Inc., Biogen Idec Inc, CIT Group Inc., Genzyme Corp., Yahoo! Inc., Amylin Pharmaceuticals Inc.

    (GuruFocus, February 14, 2010) Carl Icahn is the opposite of Warren Buffett. Buffett looks for companies with good economic moats under good managers, then he will either to take the whole company private or take a minority position in the company. Either way, the precondition for Buffett to take a interest in a company is for it to possess a competent and honest management. Buffett does not supply managers. Carl Icahn, on the other hand, believes that managements and board of directors in the US are mostly either incompetent, corrupted, or both. If he sees a suitable target, he will build a stake a position, announce the interest, and demand company to make strategic changes to unleash its value.

    Robert Shiller, a Yale Business School professor brought Carl Icahn as a guest lecturer to Shiller’s Financial Markets class. Lecture 15 of the class features Carl Icahn. He discusses his thoughts about today's economy and American businesses and their inherent threats and opportunities. He believes that the biggest challenge facing corporate America is weak management and that today's CEOs, with exceptions, might not be the most capable of leading global companies. In the video, someone asked a question on Motorola proxy fight, an event happened in 2007, so the video is 2-3 years old.  


  • Carl Icahn on CEOs and Boards of Directors

    This article highlights the 2008 Commencement speech by Carl Icahn at Drexel University in 2008. The focus is on management in the United States and it's inability to compete. Icahn also says that boards of directors, for the most part, are just as bad. Unions are also a problem, but it is a minor problem. Carl Icahn is an activist investor who in the past has forced Time Warner Inc (ticker: TWX) to reinvent its board of directors to be more independent. He also has control of two seats at Biogen Idec Inc (ticker: BIIB) and is currently waging a proxy fight to get control over 3 more seats. Icahn has recently been a buyer of Genzyme Corporation (ticker: GENZ) and Forest Laboratories Inc (ticker: FRX).

    Summary  


  • Icahn Showing Strong Interest in Biogen Idec Inc – Valuation

    Carl Icahn is trying to add 3 more seats to the Biogen Idec Inc (ticker: BIIB) board of directors through a proxy fight. This is in addition to 2 seats that he already controls. He is also trying to lock the number of seats to 13. By doing this, he prevents any potential dilution of the board of directors. At the same time, he will essentially have strong oversight of the company.

    This action is a potential catalyst. It is likely that Icahn is trying to accomplish two things. First, he is hoping to improve the value of the company while possibly improving corporate governance. Speculatively, he is may also hoping to later sell Biogen to a larger company at a premium.  


  • Carl Icahn Considers Proxy Assault on Genzyme Corp.

    Billionaire investor Carl Icahn, who last year forced board changes at biotechnology company Biogen Idec Inc, may take aim at cross-town rival Genzyme Corp(GENZ), according to a source familiar with the situation.

    Icahn bought 1.5 million Genzyme shares in the third quarter, and some observers expect him to increase that stake as he considers a proxy assault on the biotech powerhouse.  


  • View on GENZ

    Will eventually fix manufacturing issues. Wide moat. Investors over-estimate competition.  


  • Near Graham net nets vs Ultra-low price-to-book value stocks

    I’m setting up a new experiment for 2009/2010 along the same lines as the 2008/2009 Net Net vs Activist Legend thought experiment pitting a little Graham net net against activist investing legend Carl Icahn (Net Net vs Activist Legend: And the winner is…). This time around I’m pitting a small portfolio of near Graham net nets against a small portfolio of ultra-low price-to-book value stocks. The reason? Near Graham net nets are stocks trading at a small premium to Graham’s two-thirds NCAV cut-off, but still trading at a discount to NCAV. While they are also obviously trading at a discount to book, they will in many cases trade at a higher price-to-book value ratio than a portfolio of stocks selected on the basis of price-to-book only. I’m interested to see which will perform better in 2010. The two portfolios are set out below (each contains 30 stocks). I’ll track the equal-weighted returns of each through the year.

    The Near Graham Net Net Portfolio:  


  • Carl Icahn’s activist investing master class at Yale: Commenting on Motorola Inc.

    Carl Icahn recently gave a guest lecture to Professor Robert Shiller’s Yale Financial Markets class.

    In the lecture, Icahn talks about how he started out in finance and evolved into a shareholder activist. He trots out a few of his old saws: the biggest challenge facing corporate America is weak management and today’s CEOs, with exceptions, might not be the most capable of leading global companies. He also discusses the economy and slaps down an undergrad Yalie who has the temerity to have him repeat an answer, which is fun to watch. There are a few gems, including this one:
    I was borrowing money and bought all these convertibles and I thought I was a genius and Jack Dreyfus said, you’re going to lose all your money. I had made a few bucks playing poker and that’s how I started with about eight, ten thousand dollars and I made all this money by borrowing at 90%. I would go out and I was making a lot more in two weeks than my father made in two years. My father said, well you know, put the money away. I said, no Dad, I’m really going to make a fortune here. So, I went out–I remember once–and bought a Galaxy convertible. It was a beautiful car. I had a beautiful girlfriend; she was a model–it was just pretty nice.  


  • View on Carl Icahn

    He is an invester with high degree of knowledge and makes logical reasoning in the process of making decision.  


  • Billionaire Validation x 2: Ron Burkle On Barnes & Noble (BKS) and Carl Icahn on Forest Labs (FRX)

    Lonely Value had received clear endorsements from 2 billionaires in just the last 24 hours.

    Yesterday, Barron's reported on Ron Burkle's $80 million purchase of Barnes & Noble (BKS) shares. Burkle's company, Yucaipa increased its existing BKS stake to 9.8 million shares or 17% of total outstanding shares.  


  • View on Carl Icahn

    He's my mentor and what he buys, i have
    been buying as well, keeping in touch to see, what Icahn will be buying next .  


  • Carl Icahn Changed His Position to CIT Group Inc. PrePackaged Reorganization Plan

    (GuruFocus, November 1, 2009) Activist Investor Carl Icahn went to Fox Business Network explaining what exactly going on with small and middle business lender CIT Group Inc. In exchange giving the control of the board to the bond holders, the CIT Group Inc. is getting $1b from Carl Icahn as a line of credit during the prepackage bankruptcy period.

    CIT Group has gone through a series of financial and liquidity crisis during the past year due to credit losses. A month ago, the company announced a reorganization plan. Under the prepackaged plan, as amended and extended later on, CIT bondholders will get 70 cents on the dollar in the form of new notes and essentially most of the equity in the reorganized company.  


  • Carl Icahn leaves Yahoo!

    Carl Icahn resigned from Yahoo’s board of directors on Friday (October 23, 2009). His resignation letter reads as follows:

    [i]To the Yahoo! Board of Directors:  


Add Notes, Comments or Ask Questions

User Comments

Bashe
ReplyBashe - 1 month ago
you got Icahn going from 6 million to 104 million you guys charge us for information you got to get the numbers right. does anyone there read the stuff you post?
Robertbradf@google
ReplyRobertbradf@google - 8 months ago
Icahn is known for acquiring large stakes in companies with the intent of changing their corporate strategies.http://bit.ly/19cSEv3
Tnguye48
ReplyTnguye48 - 9 months ago
Is APPLE missing in this portfolio?



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