Hedge Funds

Icahn Boosts Energy Investments, Sells BlockBuster


Billionaire investor Carl Icahn invested in the energy sector in the second quarter even while pursuing more high-profile targets like Motorola and Lions Gate Entertainment, according to a regulatory filing Monday.

Carl Icahn
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Shares held by Icahn Capital 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 , 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 , offshore oil driller Ensco and power generator NRG .

Icahn held steady on his pharmaceutical investments, which include Amylin Pharmaceuticals , Biogen Idec and Regeneron , but he did sell off his small stake in Adventrx Pharmaceuticals .

Icahn also continued to offload BlockBuster 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 to buy out movie studio Lions Gate . (Read: Muscular ‘Expendables’ Enlivens Battle for Studio) As of last week, his stake in the company totaled roughly 33.5 percent.