Icahn Management, one of Icahn's investment vehicles, took a stake of about 3.1 million shares in Anadarko, worth about $133.5 million as of March 31, the filing said Tuesday. Anadarko last year purchased another of Icahn's targets, Kerr-McGee, after an activist campaign by Icahn and hedge fund Jana Partners. "He usually goes after the value plays," said Calyon Securities analyst Carin Dehne Kiley, who has a "Buy" rating on Anadarko shares. "Investors have been taking a wait and see attitude toward Anadarko, to see how they are going to digest all these acquisitions and divestitures ...