- Billionaire activist sold out of six companies in quarter
- 13F filing shows Icahn exited Apple investment entirely
Icahn Associates, the fund run by billionaire activist investor Carl Icahn, exited stakes in six companies including Hologic Inc., Tegna Inc., and Mentor Graphics Corp., while adding to his American International Group Inc. stake.
Icahn’s New York-based fund also increased its holdings of Xerox Corp. and sold off its remaining stake in Gannett Co. in the first quarter, a regulatory filing Monday showed.
The document confirmed his exit from Apple Inc.
Icahn on April 28 told CNBC he had sold off his stake in Apple Inc. almost three years after investing, because of his concerns about the company’s relationship with China. After disclosing his Apple stake in August 2013, Icahn pushed Chief Executive Officer Tim Cook to return more of the company’s ballooning cash pile to investors with buybacks and dividends.
Icahn, 80, who rose to fame in the 1980s as a corporate raider, has successfully rebranded himself as an activist investor and outspoken shareholder advocate. Worth more than $19 billion, according to the Bloomberg Billionaires Index, Icahn primarily invests his own fortune rather than relying on money from outsiders.