Billionaire investor Carl Icahn boosted his stakes in Genzyme Corp. and Motorola Inc. in the first quarter but dumped shares in CIT Group Inc., Yahoo Inc. and Blockbuster Inc.
His main investment vehicle grew in value by 11 percent to $3.18 billion during the first three months of the year.
Shares held by Icahn Capital LP were disclosed in documents filed with the Securities and Exchange Commission on Monday. The documents offer a snapshot into the activist investor's portfolio as of March 31. The entire portfolio was worth $2.87 billion on Dec. 31.
Icahn bought 2.1 million shares in new investment Chesapeake Energy Corp. worth $50.2 million during the quarter and boosted his stake in video game maker Take-Two Interactive Software Inc. to 9.3 million shares from 6.7 million at the end of December. His stake is now worth $91.6 million.
His stake in Genzyme more than doubled to 10.5 million shares, worth $543.2 million, from 4.8 million shares worth $235.2 million in the previous quarter.
Icahn's 156.2 million shares in Motorola were worth $1.10 billion, up from 119.8 million shares worth $929.6 million a quarter earlier. His stake in Lions Gate Entertainment Corp. grew to 17.6 million shares worth $109.7 million from 16.6 million shares worth $96.4 million previously.
The biggest sell-off was his complete divestiture of 9.7 million shares of business lender CIT Group that had been worth $268 million on Dec. 31.
His stake in Web portal Yahoo fell to 4 million shares, worth $66.8 million, down from 12 million shares worth $201.2 million at the end of the previous quarter. Icahn stepped down from the Internet company's board in October.
He sold off all of his 10.5 million Class A shares in Blockbuster, worth just $7.1 million. He retains 3.3 million Class B shares, worth $619,000.
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