Carl Icahn’s investment firm “Icahn Enterprises L.P.” (IEP) owned 3.9 million shares of technology giant Apple (AAPL) at the end of September, a regulatory filing showed.
Icahn revealed via social media platform Twitter (TWTR) on August 13 that he had a “large position” in the iPhone maker. The tweet however, didn’t disclose the size of the stake but a person familiar with the trade said at the time that Mr. Icahn’s high profile Apple stake was worth about $1.5 billion. According to documents disclosed Thursday with the Securities and Exchange Commissions, Icahn’s long position in Apple was indeed valued at $1.48 billion at the time of acquisition.
Based on Apple’s closing price of $528.16 on Thursday, Icahn’s trade would be valued $2.05 billion. That price is up almost 11 percent from Sept. 30, when AAPL closed at $476.75 per share.
Icahn, who has publicly and privately urged Apple CEO Tim Cook to step up stock buybacks, has said that Apple shares could trade at $700 with a larger stock buyback.
Leave a Reply