Icahn Keeps Hold of PayPal as He Sells Out of Former Parent EBay
- Activist investor stays busy with AIG stake, Freeport-McMoRan
- Icahn agitated for PayPal spinoff, which began trading July
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Icahn Associates Corp., the fund run by billionaire activist investor Carl Icahn, sold its remaining EBay Inc. stake at the same time as it reported a 3.8 percent holding in the Internet auction company’s spun off payments unit PayPal Holdings Inc.
The New York-based fund in the third quarter bought about 1.36 million shares of insurer American International Group Inc. and held 8.8 percent of Freeport-McMoRan Inc., according to a filing Monday with the U.S. Securities and Exchange Commission. Both investments were earlier made public.