Icahn Discloses Positions in VMware and Its Tracking Stock Worth $535M

Activist investor Carl Icahn disclosed new positions in VMware and its tracking stock DVMT•The billionaire had a 2.1 percent stake in the data center software giant at the end of June, Bloomberg reported, citing a regulatory filing Tuesday•His interest in DVMT was 1.2 percent•Together, the two new positions are worth $525 million


August 15, 2018

1 Min Read
VMware CEO Pat Gelsinger (L) shares the stage with Dell Technologies founder and CEO Michael Dell at VMworld 2017.
VMware CEO Pat Gelsinger (L) shares the stage with Dell Technologies founder and CEO Michael Dell at VMworld 2017.VMware

Scott Deveau (Bloomberg) -- Carl Icahn took new positions in two stocks affiliated with Michael Dell in the second quarter: VMWare Inc. and its tracking stock known as DVMT.

The billionaire investor reported a 2.1 percent stake in VMWare at the end of June worth about about $334 million, according to a regulatory filing Tuesday.

He also reported a 1.2 percent interest in DVMT, a stake valued at about $202 million. Dell Technologies Inc. has announced its plans to return to the public markets by buying out the tracking stock in a deal valued at about $21.7 billion.

Icahn said he also bought a new position in Energen Corp. during the quarter. On Tuesday, that company agreed to be acquired by Diamondback Energy Inc. for $9.2 billion.

It’s been a busy year for Icahn, who has waged battles at Xerox Corp., Newell Brands Inc., SandRidge Energy Inc. and AmTrust Financial Services Inc.

Icahn increased his position in Newell Brands and sold down positions in Herbalife Nutrition Ltd. and Cheniere Energy Inc. during the quarter

He dropped his fight to this week to block Cigna Corp.’s $54 billion acquisition of Express Scripts Holding Co.

Icahn rose to fame in the 1980s as a corporate raider and has re-branded himself since then as an activist investor and shareholder advocate. Worth about $23.7 billion, according to the Bloomberg Billionaires Index, he primarily invests his own fortune rather than money from outsiders.

Related:Dell to Return to Public Markets With Tracking Stock Buyout

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