Icahn Carl C 13F Filing
Carl Icahn’s Icahn Carl C just filed its Q3 2015 13F. Dated 25/12/2015, the filing reveals the hedge fund has a portfolio value of $27.88 billion, representing a decrease of $3.33 billion from the previous quarter when it was $31.20 billion. Note: This filling reprents only assets that which are listed in the US.
|Previous Mkt Value:||$31,201,438,000|
|Chg Mkt Value %:||-10.66 %|
|Turnover %:||61.64 %|
|Top 10 Holdings %:||86.72%|
During this quarter, Carl Icahn’s Icahn Carl C opened new positions in Apple Inc (AAPL) for $5.82 billion, Paypal Hldgs Inc for $1.44 billion, Freeport (FCX) for $969.00 million, Cvr Refng Lp (CVRR) for $115.04 million and American Intl Group Inc (AIG) for $77.35 million. These were the 5 biggest new positions. In total the hedge fund bought 5 new stocks.
|Top 5 New Buys|
|Paypal Hldgs Inc||5.15%|
|Cvr Refng Lp||0.41%|
|American Intl Group Inc||0.28%|
|13F Sector Allocation|
|Information Technology||26 %|
|Health Care||7 %|
The hedge fund didn’t report any raised positions in this quarter.
Carl Icahn’s fund got rid of its stakes in Apple Inc, Ebay Inc (EBAY) and Cvr Refng Lp. These securities constituted 21.21 %, 8.93 % and 0.35 % of the portfolio, respectively. We can only speculate about the reasons for the dumping but we believe it has to do with either value, momentum or a better place for Icahn Carl C’s capital.
The fund also cut its postiton in Hologic Inc (HOLX) by -17.57%.
Top 5 Holdings
Icahn Enterprises Lp (IEP), Apple Inc (AAPL) and Cvr Energy Inc (CVI) made up the majority of Icahn Carl C’s total US long portfolio in this quarter. These holdings were top 3 and constitute 58.9% of Icahn Carl C’s US-listed securities. The top 10 holdings make about 86.72% of the fund’s value.
It seems Carl Icahn ‘s Icahn Carl C holds concentrated portfolio. We wonder do they believe, same as legendary trader Stanley Druckenmiller, that diversification is wrong investment strategy? The image above provides an overview of Icahn Carl C’s top 10 US-listed stocks in this quarter.
Icahn Carl C raised the information technology sector from 14 % to 26 %. According to the filing, the fund also has securities for 18 % in the energy sector. The health care sector is 7 % of Icahn Carl C’s 13F US-listed securities. The fund cut the Industrials and Consumer Discretionary sector positions by 30 % and 33 %, respectively.
So these are Q3 2015 fund’s sector weights now: industrials 30 % for $8.36 billion, information technology 26 % for $7.25 billion, energy 18 % for $5.02 billion, health care 7 % for $1.95 billion, materials 4 % for $1.12 billion, consumer discretionary 3 % for $836.27 million and transports 3 % for $836.27 million.
Important Position Changes
Top 10 Q3 2015 New Positions: Apple Inc (AAPL), Paypal Hldgs Inc, Freeport (FCX), Cvr Refng Lp (CVRR) and American Intl Group Inc (AIG).
Top 10 Q3 2015 Sold Out Completely: Apple Inc, Ebay Inc (EBAY) and Cvr Refng Lp.
13F Filing Link: 000114036115041684
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