Carl Icahn Raises Hertz Global and Navistar Stakes ~ market folly

Thursday, December 18, 2014

Carl Icahn Raises Hertz Global and Navistar Stakes

Activist investor Carl Icahn has filed two separate amended 13D's with the SEC.

Increases Hertz Global Stake Again

The corporate rabblerouser has continued to buy shares of Hertz Global (HTZ).  Per the SEC filing, he now owns 11.34% of the company with over 51.9 million shares.

He's increased his position size by 13.1 million more shares since the end of November and the filing was required due to portfolio activity on December 15th.

So Icahn has been very active buying HTZ shares over the past few weeks.  Hertz is analyzed in the latest issue of our Hedge Fund Wisdom newsletter if you want to read the full bull and bear cases on the name.

Per Google Finance, Hertz Global "operates in two segments: rental and leasing of cars, crossovers and light trucks (car rental), and rental of industrial, construction and material handling equipment (equipment rental).."

Adds To Navistar International Position

Icahn also filed a 13D on Navistar and disclosed he now owns 19.99% of the company with over 16.27 million shares.

This means he's boosted his position size by over 1.9 million shares since the end of the third quarter.  This filing was required due to activity on December 17th.

Per Google Finance, Navistar International is "a manufacturer of International brand commercial and military trucks, IC Bus (IC) brand buses, MaxxForce brand diesel engines, Workhorse Custom Chassis (WCC) brand chassis for motor homes and step vans, and Monaco RV (Monaco) recreational vehicles (RV), as well as a provider of service parts for all makes of trucks and trailers. In addition, it is a private-label designer and manufacturer of diesel engines for the pickup truck, van and sport utility vehicle (SUV) markets. It also provides retail, wholesale, and lease financing of trucks and parts. NIC operates in four segments: Truck, Engine, Parts and Financial Services."

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