Markets

Carl Icahn has exited his Herbalife position, according to sources

Share

In this article

Carl Icahn, Chairman, Icahn Enterprises and Bill Ackman, Managing Partner, Pershing Square Capital Management at the 2014 CNBC Institutional Investor Delivering Alpha Conference in New York.
Heidi Gutman | CNBC

Carl Icahn has sold the last of his Herbalife stake, sources familiar with the matter told CNBC's Scott Wapner, closing a position that caused a memorable disagreement on Wall Street.

On the other side of Icahn's long bet was Pershing Square's Bill Ackman, who was short the stock.

The trade was handled by Jefferies, with around 5 million shares sold at market, according to sources.

"I think this is an example of activism working very well. It was certainly an interesting ride fighting off bear raids as well as aiding the company in their numerous negotiations with the government," Icahn told CNBC.

"But all's well that ends well, and we wish the company the best of luck in the future," he said.

All told, Icahn made about $1.3 billion on his Herbalife bet, according to Wapner's calculations

In January, Icahn sold $600 million worth of Herbalife's stock back to the company at a price of $48.05, while also relinquishing the five board seats held by Icahn Enterprises, according to a statement from Herbalife.

Icahn had owned Herbalife since at least 2013. Ackman closed his short position in 2018.

Become a smarter investor with CNBC Pro
Get stock picks, analyst calls, exclusive interviews and access to CNBC TV. 
Sign up to start a free trial today