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Net Net: Promoting innovation and managing change

Icahn nets $3.4 billion on Apple

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Carl Icahn's big bet on Apple is now one of the greatest trades of all time.

Icahn has made about $3.4 billion on the technology company since he first tweeted about the position on Aug. 13, 2013, according to a CNBC analysis of public ownership disclosures and stock prices. (Tweet This)

Read MoreIcahn: Apple shares should double

That gain puts Icahn in elite company. John Paulson's Paulson & Co. made about $15 billion shorting subprime mortgages in 2007; George Soros' Soros Fund Management made an estimated $1 billion shorting the British pound in 1992; David Tepper's Appaloosa Management made about $7.5 billion mostly by going long financial stocks in 2009; and Bill Ackman's Pershing Square Capital made about $3 billion betting on General Growth Properties from 2008 to 2014.

When asked if the Apple trade was one of the greatest of all time, Icahn declined to comment on the profit but told this, "I will certainly say Apple is one of the greatest companies of all time."

Read MoreApple shelves TV plans, despite Icahn's hopes: Rpt

Carl Icahn: Apple worth $240/share today

Icahn, who owns more than 52 million shares today, could make even more on Apple.

On Monday, he sent a letter to Apple CEO Tim Cook saying he values the company's shares at $240 (the shares trade around $130 today).

At the value Icahn is suggesting, Apple would be a nearly $1.5 trillion company. Monday's letter, which was also signed by Brett Icahn and David Schechter, called for accelerated Apple buybacks.

Read MorePortfolio manager: Ihope Icahn is right about Apple