Icahn boosted energy investments in second quarter, held steady on pharma and biotech
By APMonday, August 16, 2010
Icahn boosted energy investments in 2Q
NEW YORK — Billionaire investor Carl Icahn invested in the energy sector in the second quarter even while pursuing more high-profile targets like Motorola Inc. and Lions Gate Entertainment Corp., according to a regulatory filing Monday.
Shares held by Icahn Capital LP were disclosed in documents filed with the Securities and Exchange Commission. The documents offer a snapshot into the activist investor’s portfolio as of June.
Icahn Capital grew in value to $3.69 billion from $3.18 billion in the April to June period, mainly through the inflow of funds.
Icahn bought 10.6 million shares of Chesapeake Energy Corp., adding to the 2.1 million he owned three months earlier. The investment was worth $267 million at the end of the quarter.
He also added smaller positions in Anadarko Petroleum Corp., offshore oil driller Ensco PLC and power generator NRG Inc.
Icahn held steady on his pharmaceutical investments, which include Amylin Pharmaceuticals Inc., Biogen Idec Inc., Genzyme Corp. and Regeneron Inc., but he did sell off his small stake in Adventrx Pharmaceuticals Inc.
Icahn also continued to offload BlockBuster Inc. shares, selling 2.6 million of them and keeping just 675,160, valued at $161 million.
He bought shares in Motorola, and has continued to do so since the end of the quarter. As of Aug. 4, he owned nearly 10 percent of the maker of phones and police radios.
Icahn is attempting buy out movie studio Lions Gate. As of last week, his stake in the company totaled roughly 33.5 percent.
