• Barron's, Tuesday, September 1, 2009 2:18 PM

Activist investor Carl Icahn just sold 12.7 million shares of Yahoo, leaving him with 62.9 million shares, or a 4.48% stake in the company -- below the 5% 13-D reporting threshold, which requires investors to report activity with the SEC. Icahn said the move will "provide a more desired balance" in his portfolios, and are "in no way" a reflection of his long-term view of Yahoo. Indeed, Icahn is "optimistic" about the company's long-term prospects, and continues to believe in "the wisdom" of the company's recent transaction with Microsoft. Good thing, seeing as he still owns over $800 million worth of the company's stock.

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