A Look at Billionaire Carl Icahn’s Top Holdings and Most Important Moves in Q3

The third quarter was marked by a number of IPOs, among which was PayPal Holdings Inc (NASDAQ:PYPL), which was was spun-off from eBay Inc (NASDAQ:EBAY). Icahn played a major role in the spin-off, having pushed for the transaction for months. In its latest 13F, Icahn revealed a $1.44 billion stake in PayPal Holdings Inc (NASDAQ:PYPL), which contains 46.27 million shares. We shall also remind you that before the spin-off, Icahn issued a letter in which he stated that PayPal should consolidate its position by acquiring or merging with another payment company. What’s also interesting to point out is that as the spin-off was completed, Icahn ditched his stake in eBay Inc (NASDAQ:EBAY), unloading 46.27 million shares of the company. Another investor that also chose to swap eBay for PayPal is David E. Shaw’s D. E. Shaw, which disclosed holding 12 million shares of PayPal Holdings Inc (NASDAQ:PYPL). At the same time, the fund cut 70% of its stake in eBay Inc (NASDAQ:EBAY), remaining with 1.95 million shares as of the end of the third quarter.

In the liquified natural gas company Cheniere Energy, Inc. (NYSEMKT:LNG), Icahn boosted his position by 27.47 million shares, holding 28.55 million shares worth $1.38 billion. As he acquired more shares, Icahn went activist on the company and obtained two seats on  its board. Seth Klarman’s Baupost Group is also bullish on Cheniere Energy, Inc. (NYSEMKT:LNG), adding 7.30 million shares to his portfolio during the third quarter, reporting ownership of 22.67 million shares in its latest 13F filing.

Freeport-McMoRan Inc (NYSE:FCX) and American International Group Inc (NYSE:AIG) represent two other new picks added to Icahn’s equity portfolio in the third quarter. The activist obtained two seats on Freeport-McMoRan Inc (NYSE:FCX)’s board a couple of months ago, as it acquired an 8.7% stake containing 100.0 million shares that were valued at $969.0 million at the end of September. Rob Citrone’s Discovery Capital Management followed Icahn, reporting a new stake of 17.11 million shares of Freeport-McMoRan Inc (NYSE:FCX) in its latest 13F filing.

In American International Group Inc (NYSE:AIG), Icahn reported a stake of 1.36 million shares worth $77.35 million. At the end of October, Icahn went activist on American International Group Inc (NYSE:AIG), urging the company to separate its life and mortgage units. Some analysts and other shareholders expressed their support for an AIG split, among them John Paulson of Paulson & Co, who said that a split of the company could send the stock above the $100 mark. Paulson owns 14.60 million shares of American International Group Inc (NYSE:AIG) as of the end of September.

Disclosure: None