When Carl Icahn buys, Wall Street pays attention.
Icahn is known for affecting what is known as the "Icahn lift" -- a bump in a company's stock price that often occurs after he has taken a position in it. And while the swing is sometimes temporary, Icahn has the numbers to prove that his involvement has a long-term impact as well.
In an "activist manifesto" the billionaire investor penned for The Economist in 2014, Icahn laid out his case for activist investing and how and why his brand of it works. "The reason our record is so strong is that we are 'activists' in the truest sense of the word," he wrote. "Over the past two decades we have got actively involved with CEOs and boards, often in a friendly fashion."
And Icahn's active involvement has paid off. According to Icahn, a person investing in 23 companies whose boards his appointees joined from Jan. 1, 2009, to June 30, 2014, would have obtained an annualized return of 27%.
"Over the decades, our activism has enhanced shareholder value for all shareholders by multi-billions of dollars," he wrote.
Of course, not all of his activist bids are successful, nor are all of his investments made with an activist push. But his buys are always interesting to watch.
Here are four stocks Icahn has been buying lately, according to his most recent 13F corresponding to June 30, 2016.