Carl Icahn surfaces at JetBlue: whale moves Jun 13

Carl Icahn surfaces at JetBlue: whale moves Jun 13

Carl Icahn is confirmed as the filer behind JetBlue's June 9 13D/A amendment — his first disclosed airline activist position in years, against a carrier trading at multi-year lows. Vista Equity co-founder Brian Sheth quietly accumulated a 22.5% stake in Blend Labs via Haveli Investments ($108.5M position, ~4.7M open-market shares over four weeks), with zero mainstream media pickup. RPAY's annual meeting vote results reveal a severe governance breakdown: every director drew 36%+ withhold votes, and say-on-pay passed at only 52.88% vs. a Russell 3000 norm of ~92%. Silver Lake continued its DELL distribution with 10 more Form 4s (~$393M cumulative) while Dell issued $3B in new debt; Marc Andreessen sold ~$76M of Samsara over four days.

Whale Investor Holdings
Whale Investor Holdings@NeoDrop Official
2026/6/13 · 21:29
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Saturday's EDGAR catch-up confirmed what the filing metadata only hinted at: Carl Icahn is the activist behind JetBlue's fresh 13D/A — his first disclosed airline position in years. That identity confirmation, alongside Vista Equity co-founder Brian Sheth quietly stacking a 22.5% stake in Blend Labs and RPAY's vote results landing with a governance alarm, give the Jun 12–13 window more signal than a Saturday slate normally delivers. Coverage spans late-Friday filings through Saturday morning, Jun 12–13.

Quick scan: all items, Jun 12–13

TickerFilerActionSharesEst. valueFilingSignal
JBLUCarl Icahn (ICAHN CARL C)13D/A amendment — stake updatesee belowundisclosedSched 13D/A🔵 Activist entry confirmed
BLNDHaveli Investments / Brian ShethAdded to 22.5% — 4-week open-market buy64,197,502 total~$108.5MSched 13D/A🔵 Silent accumulation
RPAY— (8-K vote results)Annual meeting: 6 dirs elected, ~36% withhold, 52.9% say-on-pay79,250,950 votes per seat—8-K Item 5.07⚠️ Governance crisis
DELLSilver Lake Group (10 entities)Form 4s — Class B→C sales/conversions~76,000+ sh in named batches~$30M (est.)Form 4 ×10 + Form 144 ×5⚙️ Ongoing distribution
IOTMarc Andreessen (LAMA Community Trust)Sell — 4-day program2,256,487 sh~$76M (est.)Form 4 ×2🔴 Director exits
NRDYCEO Charles Cohn (Revocable Trust)Buy — 2 days continued477,223 sh~$450KForm 4 ×2🟢 Discretionary buy
BHRBoard / Special CommitteeStrategic review closed — self-managed REIT——8-K📋 Watchlist closed
NNDM— (EGM 8-K)EGM set Jul 31, record date Jun 23——8-K📋 Watch date set
BORRTor Olav Trøim (Drew Holdings)Buy — 1.06M sh @ $4.701,063,000 sh~$5.0MForm 4🟢 Director buy
BORRGranular Capital (Mordehachvili)Sell — 8.0M sh @ $4.708,000,000 sh~$37.6MForm 4🔴 Director sell
STTKRedmile Group / Clay Siegall13D/A amended — 9.9%; dir buy 62.5K @ $4.009,819,084 total—Sched 13D/A🔵 Biotech hold
GOSSD.E. Shaw (multiple entities)13D filed — 9.5% debt-for-equity46,485,295 sh—Sched 13D🔵 Debt-for-equity
SVCOKatherine Ngai-Pesic (Dir/10%+)Sell — 200K sh (non-plan)200,000 sh~$2.25MForm 4🔴 Non-plan sell
Coverage: 2026-06-12 13:28 UTC → 2026-06-13 18:00 UTC

JBLU / Carl Icahn: the name behind the 13D/A

The EDGAR filing index for JetBlue Airways' June 9 13D/A (accession 0001539497-26-001705) listed a filer CIK — 0001539497 — that belongs to Icahn's filing agent, not a new unknown entity. Opening the index page confirms the reporting person: ICAHN CARL C, CIK 0000921669, address c/o Icahn Enterprises L.P., 16690 Collins Ave., PH-1, Sunny Isles Beach, FL 33160. 1
The filing itself is 35 KB — amendment language that updates an existing position. The raw share count and percentage are contained in the attached exhibit, which was not accessible in this research window. What is confirmed: Icahn already held a Schedule 13D position in JetBlue Airways (Nasdaq: JBLU) and filed an amendment on June 9, meaning his stake either crossed a reporting threshold or his intent or plans changed in a material way. Icahn's CIK has prior activist campaigns in airlines (he held TWA, US Airways, and Delta stakes in earlier decades) and is known for using 13D filings to signal to management before making public demands. 1
JetBlue is trading near multi-year lows, battling unit-cost pressures and a narrowed route network after the DOJ blocked its American Airlines codeshare partnership. Icahn's track record in distressed-carrier situations — demanding cost cuts, management changes, or a sale process — makes this a filing to watch closely when the full text surfaces.

BLND / Haveli: a $108M stake, four weeks under the radar

Blend Labs (NYSE: BLND) — a digital mortgage and banking platform with a market cap of ~$409M — received a Schedule 13D/A Amendment No. 4 on June 12, disclosing that Haveli Investments and its principal Brian N. Sheth now control 64,197,502 shares (22.5%) of Class A common stock. 2
Sheth is the co-founder of Vista Equity Partners, the Austin-based private equity firm with $100B+ in assets under management and a specialized focus on enterprise software buyouts. Haveli is his family office vehicle, operating independently of Vista. This is an active Schedule 13D — not a passive 13G — meaning Haveli reserves the right to engage with management, seek board representation, or pursue a transaction.
The position's construction breaks into two buckets:
  • 46,153,845 shares originated from converting 150,000 shares of Series A convertible preferred stock. Conversion terms are not publicly detailed.
  • 18,173,657 shares were acquired in the open market across five Form 4 tranches over the four weeks ending June 5. 3 4 5 6
The open-market buy pace was steady and at rising prices: from ~$1.255 in mid-May to ~$1.73 in early June. At BLND's current price near $1.69, the ~4.74M open-market shares carry a mixed cost basis — roughly 1.12M shares bought at $1.655–$1.73 are underwater by 2–10%, while the earlier ~3.6M shares bought at $1.25–$1.50 are above water by 13–35%.
Total position market value at $1.69: ~$108.5M (Haveli entities) or ~$108.7M including Sheth's wife's trust (130,000 additional shares). 7
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No mainstream financial press — Bloomberg, Reuters, or WSJ — had picked up this accumulation as of the Jun 13 research window. That gap between filing reality and media coverage is itself a directional signal.

RPAY: governance crisis after 36% withhold and 52.9% say-on-pay

Repay Holdings (Nasdaq: RPAY) — a payment technology company processing card-based payments for vertical markets — filed its 8-K Item 5.07 on June 12 at 16:06 ET, more than 50 hours after the June 10 annual meeting. The headline numbers are stark. 8
All six directors were elected — but every single seat drew withhold votes above 35%:
DirectorForWithheldWithhold %
Peter J. Kight50,213,56129,037,38936.67%
Richard E. Thornburgh50,229,02429,021,92636.66%
Paul R. Garcia50,514,69428,736,25636.09%
Maryann Goebel50,595,65528,655,29535.98%
John Morris50,596,05528,654,89535.98%
Emnet Rios50,597,08228,653,86835.97%
Vote base per seat: 79,250,950 votes (For + Withheld), plus 5,888,994 broker non-votes. 8
The say-on-pay vote was the more severe signal: only 52.88% support (36,772,506 for vs. 32,764,335 against, 9,714,109 abstain). 8 According to proxy advisory firm Georgeson/Computershare analysis cited in the Harvard Law School Corporate Governance Forum, the Russell 3000 average say-on-pay approval rate runs near 92%, and fewer than 10 companies in that index failed to achieve majority support in the 2026 proxy season. RPAY's 52.88% sits well outside that range. ISS issued a negative pay recommendation before the meeting; such recommendations historically depress Russell 3000 company approval rates by up to 23 percentage points.
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The activist coalition — Forager Fund (12.4%, Robert MacArthur and Edward Kissel) and Veradace Capital (8.2%) — together held roughly 20.6% of the vote. The actual withhold tally averaged ~36%, meaning approximately 15 additional percentage points came from institutional shareholders beyond the two known activists. 9 10
In its most recent 13D/A, Forager characterized five directors as having "refused substantive engagement and repeatedly chose governance paths that left stockholders with no meaningful voice and the Board with more control." Forager's standing acquisition proposal values RPAY at $4.80 per share cash — a 42% premium to the June 12 close near $3.37. Neither Forager nor Veradace had issued a post-vote public statement as of the research window's close. The next logical moves are either direct negotiation or a new proxy campaign for 2027. 9

Sector cluster: tech sell-off continues at IOT and DELL

Two of the window's largest dollar-volume moves came from the same direction: institutional and insider selling in technology names.
Marc Andreessen — Samsara (NYSE: IOT) board director and a16z co-founder — sold 2,256,487 Class A shares over four days (June 8–11) through the LAMA Community Trust, at weighted averages ranging from $32.18 to $35.36. 11 The two Form 4s filed June 10 and June 12 each cover two-day execution windows; combined estimated proceeds are approximately $76M at midpoint prices. A separate Form 144 filed June 8 by a16z-affiliated funds lists an additional 4,512,974 shares as proposed for sale — that secondary pipeline has not yet appeared as executed Form 4 transactions.
Silver Lake filed 10 Form 4s and 5 Form 144s for Dell Technologies (NYSE: DELL) on June 12, continuing the Class B-to-C conversion and sale program that has been running since early June. Named sale tranches across the batch total approximately 76,000+ shares at prices between $390.39 and $398.83 per share — roughly $30M in estimated proceeds from the identified tranches. 12 Silver Lake's entities hold approximately 44.4–44.6 million Class B shares indirectly plus Egon Durban's direct 1.3 million Class C shares. Cumulative Silver Lake DELL sales since June 3 have reached an estimated ~$393M without a 13D/A update — the last such filing was #14, dated July 10, 2024. A filing is due if sales have crossed the 1% ownership-change threshold.
Dell on the same day filed an 8-K announcing a $3 billion investment-grade debt offering: $1B of 4.750% Senior Notes due 2031, $750M of 5.000% due 2034, and $1.25B of 5.250% due 2037. Settlement is expected June 16. Underwriters include Barclays, BofA, Goldman Sachs, and J.P. Morgan. 13
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NRDY / CEO Cohn: continued buying at sub-$1

Nerdy Inc. (NYSE: NRDY) CEO Charles K. Cohn bought another 477,223 Class A shares through the Charles K. Cohn Revocable Trust on June 10–11, filing two Form 4s on June 11–12. 14
  • June 10: 219,019 shares at a weighted average of $0.91, estimated value ~$199K. Trust position: 0 → 219,019 shares.
  • June 11: 258,204 shares at a weighted average of $0.97 (range: $0.94–$0.99), estimated value ~$251K. Trust position: → 477,223 shares.
Neither transaction is under a Rule 10b5-1 plan. Cohn already holds more than 9.2 million Class A shares directly and additional millions through other family vehicles — this trust is a separately funded accumulation at current prices. NRDY's market cap as of June 11 was approximately $182M. Cohn's performance-based RSUs only vest if the stock hits $18–$42 by September 2028, price levels 19–43× above where shares are trading today.

Watch list updates

BHR — strategic review closed. Braemar Hotels & Resorts (NYSE: BHR) filed an 8-K on June 12 formally concluding its strategic review. The board elected not to sell the company but instead to convert to a self-managed REIT: terminating the advisory relationship with Ashford Inc., replacing the near-entire board with five new independent directors plus an independent chair, retaining CEO Richard Stockton, and targeting $25M+ in annual G&A savings. The portfolio will be pared to approximately 6–8 US and Caribbean luxury properties with total asset value exceeding $1 billion, with 2–3 dispositions expected to cover Ashford termination fees. Al Shams Investments (9.55%, Wafic Said) filed a DFAN14A and 13D Amendment No. 9 on June 10, continuing its proxy push — though BHR's pre-emptive restructuring substantially addresses the activist's stated demands. A DEF 14A proxy statement is still pending. 15
NNDM — EGM dated Jul 31, record date Jun 23. Nano Dimension (Nasdaq: NNDM) filed an 8-K on June 11 setting a firm date for its extraordinary general meeting: July 31, 2026, in Waltham, Massachusetts. Record date is June 23. Murchinson-backed "Proposing Shareholders" placed six proposals on the agenda including removal of three directors (the board recommends voting against) and election of three replacements (also recommended against). The board supports the first two proposals — a consultative resolution on strategic alternatives and an amendment to Article 39 requiring 70% majority. 16
SNOW — Slootman charity gift Form 4 still absent. Frank Slootman's anticipated June 9 charitable gift Form 4 did not surface in this window. His June 1 Form 4 (accession 0001402348-26-000011) left him with 200,970 Class A shares directly held (plus 5,336,655 unexercised options). No further Slootman Form 4 appeared in the June 8–12 window. 17 18
DELL 13D/A #15 — still absent despite ~$393M in cumulative Silver Lake sales since June 3 across at least 15 Form 4 batches. A 10-day filing clock would run to approximately June 20 if the 1% ownership-change threshold was crossed in the most recent sales batch.

Other notable filings

BORR — opposing directors cross on the same day at the same price. Borr Drilling director Tor Olav Trøim (via Drew Holdings Ltd.) bought 1,063,000 shares at $4.70 on June 9, pushing indirect holdings to 27,185,941 shares. On the same day at the same price, fellow director and Granular Capital representative Thiago Mordehachvili sold 8,000,000 shares at $4.70, leaving Granular with 38,199,677 shares. 19 Borr had separately priced a two-tranche bond refinancing — 8.750% notes due 2032 and 9.000% due 2034 — that settled June 10, totaling approximately $2.035 billion.
STTK / Redmile — Redmile Group's 13D/A Amendment No. 5, filed June 11, holds 9,819,084 shares (9.9%) of Shattuck Labs following warrant exercises totaling approximately $8.4M in cash paid in early June. Separately, board director Clay Siegall bought 62,500 shares at $4.00 in the company's concurrent equity offering. 20
GOSS / D.E. Shaw — D.E. Shaw's June 11 Schedule 13D reports 46,485,295 shares (9.5%) of Gossamer Bio after its entities tendered $28.8M in old convertible notes into the debt-for-equity exchange that settled June 4. Shaw also holds a 3.7M share short position (convertible arb offset) and signed a voting support agreement for Gossamer's July 14 special meeting. Final exchange settlement is expected June 18. 21
SVCO / Ngai-Pesic — Silvaco Group (Nasdaq: SVCO) director and 10%+ owner Katherine Ngai-Pesic sold 200,000 shares at a weighted average of $11.2716 on June 11, not under a 10b5-1 plan, for approximately $2.25M. She retains 9,176,403 shares. 22
HOWL / RA Capital — RA Capital Management sold approximately 678,226 shares of Werewolf Therapeutics (Nasdaq: HOWL) at $0.37–$0.38 across June 9–11, for approximately $254K in proceeds. Remaining RA Capital position: ~5.4M shares across affiliated funds. 23
Cover: AI-generated illustration.

参考来源

  1. 1SEC EDGAR — JBLU 13D/A filing index (0001539497-26-001705)
  2. 2StockTitan — Brian Sheth group discloses 22% BLND stake (13D/A Amendment No. 4)
  3. 3StockTitan — Haveli buys 1,527,874 BLND shares (Form 4, May 14–18)
  4. 4StockTitan — Haveli buys 777,178 BLND shares (Form 4, May 19–21)
  5. 5StockTitan — Haveli buys 1.04M BLND shares (Form 4, May 22–27)
  6. 6StockTitan — Haveli buys 1.1M BLND shares (Form 4, late May–early Jun)
  7. 7SEC EDGAR — BLND 13D/A Amendment No. 4 filing index (0001193125-26-270049)
  8. 8SEC EDGAR — RPAY 8-K (Items 5.02, 5.07, 9.01) dated June 10, 2026
  9. 9StockTitan — Forager Fund 12.4% RPAY stake (13D/A Amendment No. 6)
  10. 10Access Newswire — Veradace Partners withdraws nominations and announces withhold intent
  11. 11StockTitan — Samsara (IOT) SEC Filings
  12. 12SEC EDGAR — DELL Form 4 (0001193125-26-269842)
  13. 13SEC EDGAR — DELL 8-K: $3B notes offering (0001193125-26-269594)
  14. 14StockTitan — Nerdy Inc. SEC Filings
  15. 15StockTitan — Braemar Hotels & Resorts (BHR) SEC Filings
  16. 16StockTitan — Nano Dimension (NNDM) SEC Filings
  17. 17SEC EDGAR — Snowflake Form 4 (Speiser, 0001628280-26-041712)
  18. 18SEC EDGAR — Snowflake Form 4 (Kleinerman, 0001628280-26-042332)
  19. 19StockTitan — Borr Drilling (BORR) SEC Filings
  20. 20StockTitan — Shattuck Labs (STTK) SEC Filings
  21. 21StockTitan — Gossamer Bio (GOSS) SEC Filings
  22. 22StockTitan — Silvaco Group (SVCO) SEC Filings
  23. 23StockTitan — Werewolf Therapeutics (HOWL) SEC Filings
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