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Herbalife Ltd. (HLF): Billionaire Carl Icahn’s Icahn Capital Raises Stake

Published on November 4, 2016 at 12:09 pm by Insider Monkey Staff in Hedge Funds, News
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Billionaire Icahn Carl‘s Icahn Capital has filed an amended Form 13D  with the US Securities and Exchange Commission, in which it reported raising its stake in Herbalife Ltd. (NYSE:HLF) to 21.44 million shares, which account for 23.05% of the float. As per the prior 13D filing on the company, the fund’s stake consisted of 19.3 million shares, which amassed 20.78% of the outstanding stock.

Herbalife is a world-renowned nutrition company that produces a variety of nutritional products. Since the beginning of the year, the company’s stock has gained 2.8%. For the third quarter of 2016, the company reported earnings per share of $1.21, topping the estimates of $1.09, and revenue of $1.12 billion, below the estimates of $1.14 billion. Recently, Pivotal Research reiterated its ‘Buy’ rating on the stock, with a price target of $90.

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Out of the 749 hedge funds that we track which filed 13Fs for the end of June, 35 reported long positions in Herbalife (NYSE:HLF), down by two from the previous quarter. Among the largest investors in the company were William Duhamel’s Route One Investment Company (3.61 million shares), Jim Simons’ Renaissance Technologies (3.16 million shares), David Kowitz and Sheldon Kasowitz’s Indus Capital (2.63 million shares), and Vinit Bodas’ Deccan Value Advisors (2.13 million shares).

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You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
High River Limited Partnership 4,288,786 0 4,288,786 0 4,288,786 4.61%
Hopper Investments 0 4,288,786 0 4,288,786 4,288,786 4.61%
Barberry Corp 0 4,288,786 0 4,288,786 4,288,786 4.61%
Icahn Partners Master Fund 6,980,001 0 6,980,001 0 6,980,001 7.50%
Icahn Offshore 0 6,980,001 0 6,980,001 6,980,001 7.50%
Icahn Partners 10,175,144 0 10,175,144 0 10,175,144 10.94%
Icahn Onshore 0 10,175,144 0 10,175,144 10,175,144 10.94%
Icahn Capital 0 17,155,145 0 17,155,145 17,155,145 18.44%
IPH GP 0 17,155,145 0 17,155,145 17,155,145 18.44%
Icahn Enterprises Holdings 0 17,155,145 0 17,155,145 17,155,145 18.44%
Icahn Enterprises G.P. Inc 0 17,155,145 0 17,155,145 17,155,145 18.44%
Beckton Corp 0 17,155,145 0 17,155,145 17,155,145 18.44%
Carl C. Icahn 0 21,443,931 0 21,443,931 21,443,931 23.05%
Date of Transaction Amount of Securities Price Per Share High River Limited Partnership

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Page 1 of 16 – SEC Filing

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 9)*
Herbalife Ltd.
(Name of Issuer)
Common Shares, par value $0.001 per Share
(Title of Class of Securities)
G4412G101
(CUSIP Number)
Andrew Langham, Esq.
Icahn Capital LP
767 Fifth Avenue, 47th Floor
New York, New York 10153
(212) 702-4300
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
November 3, 2016
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Section 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box  / /.
NOTE:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d‑7 for other parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
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