Billionaire activist investor Carl Icahn faced a steep challenge recently as his conglomerate, Icahn Enterprises L.P. (NASDAQ:IEP), was the subject of a short report issued by well-known short seller Hindenburg Research.
Shares of Icahn Enterprises fell as much as 20% on the news and have struggled to return to the trading range it was in before the short report was released — but it looks like Icahn bought the dip, according to his latest 13F filing.
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What Happened: While IEP remains Icahn’s largest holding, he increased his position in the stock by purchasing an additional 11.48 million shares, and it represents 71.30% of his portfolio, up from the previous 70.43%.
The investment giant known for his scuffle with Pershing Square’s Bill Ackman also opened a new position in Illumina, Inc. (NASDAQ:ILMN), a leading company in the genomics industry, by purchasing 430,000 shares valued at $99.97 million.
On the short report, Icahn Enterprises refuted any allegations, describing them as a “disinformation campaign,” and said it would take appropriate steps to protect shareholders and combat the claims.
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Photo: Insider Monkey via Flickr Creative Commons
