UPDATE: Icahn Reports Higher Stake In Motorola

Billionaire investor Carl Icahn raised his wager on Motorola in the fourth quarter, ahead of the company's split in January.

Icahn had been steadily increasing his investment in Motorola Inc., which split into two companies--Motorola Mobility Holdings Inc. (MMI), which sells cellphones and home set-top boxes, and Motorola Solutions Inc. (MSI), which builds public-safety radios and enterprise computing devices.

The billionaire activist investor bought 17.6 million shares of Motorola, bringing his total holding to roughly 268 million shares, according to a filing with the Securities and Exchange Commission.

Icahn reported the assets in his funds were worth $11.52 billion as of the end of the fourth quarter. The assets were valued at $10.55 billion at the end of the third quarter.

Many investors who manage more than $100 million are required to disclose most securities holdings within a month and a half of the end of a quarter. The filings give the public a relatively fresh look at the portfolios of well-known investors.

While a large portion of his assets remained unchanged, Icahn made some adjustments. He slashed his stake in Cadence Design Systems Inc. (CDNS), which supplies electronic design automation products, to 355,686 shares from 2.8 million in the third quarter.

Always active in the medical field, Icahn added to his position in Enzon Pharmaceuticals Inc. (ENZN), scooping up 3.6 million shares and more than doubling its total holding to 7.1 million shares. His stake in Genzyme Corp. (GENZ) remained unchanged, while he slightly lowered his position in Regeneron Pharmaceuticals Inc. (REGN).

Icahn cut his stake in Masco Corp. (MAS) by 844,084 shares to 4.2 million shares.

He also added a significant position in Chesapeake Energy Corp. (CHK), which was disclosed in a previously filing.

Icahn has been busy recently, having recently sough to acquire Dynergy Inc. (DYN). Earlier Monday, he made what he said was the final extension of his tender offer for the merchant power producer. On Friday, Icahn disclosed a 9.08% stake in Clorox Co. (CLX).

-By Roger Cheng, Dow Jones Newswires; 212-416-2153; roger.cheng@dowjones.com

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