Icahn’s 4Q14, Historical Holdings Show Robust Confidence in Apple



Icahn’s fourth quarter portfolio

Activist investor Carl Icahn’s 4Q14 portfolio was worth $31.9 billion, down from $33.6 billion in 3Q14. The fund made one new purchase in Manitowoc Company (MTW) and sold its stake in CVR Refining (CVRR). The fund had holdings in 21 tickers, and its top ten holdings represented 88.7% of the fund’s 4Q14 portfolio value.

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Sector breakdown of Icahn’s 4Q14 portfolio

As evident from the chart below, Carl Icahn’s largest percentage of holdings is in financials. Icahn Enterprises LP (IEP) is a diversified holding company that owns subsidiaries involved in a variety of industries:

  • real estate
  • food packaging
  • automotive
  • home fashion
  • investment

Icahn’s holdings in Apple

The chart below shows that Icahn added Apple (AAPL) to his portfolio in September 2013, purchasing ~27 million shares. Since March 2014, the fund has maintained its holdings in Apple at ~53 million shares. This clearly indicates Icahn’s strong belief in Apple’s future earnings potential.

AAPL is part of the iShares US Technology ETF (IYW) and the Technology Select Sector SPDR Fund (XLK), with exposures of 18.8% and 18.1%, respectively. Apple is also part of the PowerShares QQQ Trust (QQQ), with an exposure of 15.41%.

In the next part of this series, we’ll discuss Apple’s financial performance.


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