360° Coverage : Billionaire Carl Icahn's Investment Fund Returned 31% In...

10 Updates
Billionaire Carl Icahn's Investment Fund Returned 31% In 2013

Billionaire Carl Icahn's Investment Fund Returned 31% In 2013

Jan 21 2014, 7:32am CST | by

By just about any measure, billionaire investor Carl Icahn had a great year in 2013. The stock of Icahn Enterprises returned 158% last year as investors embraced Icahn’s publicly-traded investment...

Filed under: news

 
 
 

27 weeks ago

Billionaire Carl Icahn's Investment Fund Returned 31% In 2013

Jan 21 2014, 7:32am CST | by

By just about any measure, billionaire investor Carl Icahn had a great year in 2013. The stock of Icahn Enterprises returned 158% last year as investors embraced Icahn’s publicly-traded investment vehicle, which not so long ago traded at a discount to its net asset value. With activist investing all the rage, the resurgence of Icahn in 2013 stretched from CNBC to the covers of Forbes and Time magazines, which called Icahn America’s most important investor.

But behind all his proxy fights, television outbursts and tweets, is Icahn’s ability to trade financial markets. Now in his late 70s, Icahn is on an amazing run. In 2013, Icahn’s investment fund returned 31%, according to a recent financial presentation put out by Icahn Enterprises. That’s just about in line with what the U.S. stock market performed last year, which is pretty impressive given that Icahn has said that his portfolio was hugely hedged last year. The vast majority of hedge fund managers were trounced by Icahn and the U.S. stock market last year and their defenders have loudly argued that recent hedge fund underperformance has been a product of prudent and, at times, contractually required hedging of portfolios during a raging bull market.

How did Icahn do it? He went into 2013 with Netflix as his third biggest holding. The stock soared by 283% from the start of the year until Icahn sold a big chunk of his holdings in late October. The stock of Icahn’s biggest holding going into 2013, Forest Laboratories, merely increased by 70% over the year. Icahn held onto most of his stake in Forest Labs throughout the year and it remains his second biggest position. Icahn played an important role in the ouster of Aubrey McClendon from Chesapeake Energy last year and the stock, which was Icahn’s second biggest holding in 2013, rose by 63%.

Can Icahn keep producing good returns in 2014? It’s very early, but Icahn seems to be off to a bit of a rough start. Herbalife, a stock that also helped Icahn’s investment fund tremendously last year, has tumbled by more than 10% in January. It was Icahn’s fourth biggest position going into 2014 with a value of $1.3 billion, a not insignificant chunk of Icahn’s investment fund. Apple, which is Icahn’s biggest single position by far, has dipped by more than 3% to start the year. His other big bets are Forest Labs, Chesapeake and Transocean.

But you would be crazy to bet against him. Home runs like Netflix might seem like luck, but as someone who once worked with Icahn told me recently, it can’t be luck when a guy like Icahn keeps on scoring for decades. After a tough 2008 that saw Icahn post big losses, Icahn has rebounded in a big way. He kicked all outside investors out of his hedge fund after the financial crisis and rebooted. The last five years for Icahn have been tremendous, a stretch that has seen his investment fund return 27% annually. Outside of billionaire hedge fund manager David Tepper, who has done even better, it’s tough to find that kind of investment performance amid big shot money managers over the last five years.

Source: Forbes Business

 
Update
10

7 weeks ago

RM47mil KWSG contributions still unclaimed

Jun 9 2014 7:54am CDT | Source: Business Times Malaysia

KUALA LUMPUR: About RM47 million of contributions in the Teachers Provident Fund (KWSG) still remain unclaimed, the Dewan Rakyat was told t ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
9

7 weeks ago

Gold shop lost almost RM1mil

Jun 9 2014 3:50am CDT | Source: Business Times Malaysia

KANGAR: A gold shop owner lost almost RM1 million after after the safe on in his shop was ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
8

7 weeks ago

Motion to debate MAS losses in Dewan Rakyat rejected

Jun 9 2014 3:39am CDT | Source: Business Times Malaysia

KUALA LUMPUR: AN emergency motion to debate the losses incurred by Malaysia Airlines last year, amounting to RM1.2 billion was rejected by the Dewan Ra ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
7

7 weeks ago

MH370 Tragedy: Hisham: RM27.6 mil spent on 1st phase of SAR

Jun 9 2014 2:11am CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia spent some RM27.6 million in its first phase of the search operations for missing Malaysia Airline flight MH370, said Acting Transport Minister, Datuk Seri Hishammu ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
6

7 weeks ago

9.1m litres of diesel seized in a month

Jun 8 2014 1:11am CDT | Source: Business Times Malaysia

PUTRAJAYA: The Domestic Trade, Cooperatives, and Consumerism ministry has seized some 9.1 million litres of diesel and property worth RM58 million since mounting ‘Operasi Diesel Selatan ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
5

8 weeks ago

Girl, 9, awarded RM2.78m compensation for medical negligence

Jun 6 2014 4:56am CDT | Source: Business Times Malaysia

KUALA LUMPUR: A nine-year-old girl who suffered brain damage during her birth at a government hospital was awarded over RM2.78 millio ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
4

8 weeks ago

Malaysia's total trade in April up 12pc

Jun 5 2014 11:52pm CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia's total trade in April 2014 rose by 12 per cent from a year ago to RM123.86 billion due to growing trading activities, International Trade and Industry Minister Datuk Seri Mustap ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
3

8 weeks ago

Works Ministry to spend RM20m for upgrading works at 50 accident black spots

Jun 4 2014 11:35pm CDT | Source: Business Times Malaysia

JOHOR BARU: The Works Ministry will implement upgrading works at 50 accident prone locations in the country that have been identified this year involving an allocation ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
2

8 weeks ago

Najib launches loan scheme for Ramadan traders

Jun 4 2014 10:24pm CDT | Source: Business Times Malaysia

PUTRAJAYA: Prime Minister Datuk Seri Najib Razak today launches RM45 million Ramadan Bazaar Sc ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
1

8 weeks ago

Residents bring up objection against Kidex to Suhakam

Jun 4 2014 4:49am CDT | Source: Business Times Malaysia

PETALING JAYA: A group of 20 Petaling Jaya residents held a meeting with the Human Rights Commission of Malaysia (Suhakam) over their objection against the proposed RM2.2 billion Kinrara Damansara Sky ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

WTO fails to reach trade facilitation agreement
Geneva, Aug 2 (IANS) Negotiations at the World Trade Organisation(WTO) has failed to agree on the implementation of the trade facilitation agreement as the deadline of July 31 passed.
 
 
Liberia reports new Ebola cases
Lagos, Aug 1 (IANS) The Liberian government has reported new Ebola cases as of July 28.
 
 
Japanese men's life expectancy over 80 years for first time
Tokyo, Aug 1 (IANS/EFE) The life expectancy of Japanese men stood at 80.21 years in 2013, the first time that men have gone past the 80-year mark in the Asian country, according to the country's ministry of health, labour and welfare.
 
 
Methane created mysterious Siberian crater: Study
London, Aug 1 (IANS) The mysterious crater spotted in the frozen Yamal peninsula in Siberia earlier this month was probably caused by methane released as permafrost thawed, Russian researchers say.
 
 
 

Latest from the Network

Commonwealth Games medals tally
Glasgow, Aug 2 (IANS) England lead the medals tally Friday at the 20th Commonwealth Games with 47 golds, 46 silvers and 43 bronzes followed by Australia and Canada. India are still fifth with a tally of 49 medals,...
Read more on Sport Balla
 
How John Legend coped with parents' divorce?
Los Angeles, Aug 2 (IANS) Singer John Legend credits his teachers for helping him cope with his parents' divorce and for motivating him to complete his Ivy League education. "I was 10 years old when my parents got...
Read more on Celebrity Balla
 
Kerry condemns violation of Gaza ceasefire
Washington, Aug 2 (IANS) US Friday condemned Friday the killing of Israeli soldiers and apparent abduction of another by the Palestinian militants that violated the ceasefire. "It was an outrageous violation of the...
Read more on Politics Balla
 
Gurusaidutt leads Indian shuttlers into semis
Glasgow, Aug 2 (IANS) Indian shuttler R.M.V. Gurusaidutt came out with a brilliant performance to oust Malaysian top seed Chong Wei Feng and enter the men's singles semi-finals of the Commonwealth Games here Friday....
Read more on Sport Balla
 
Discus thrower Seema earns silver, pugilist Pinki bronze (Roundup)
Glasgow, Aug 2 (IANS) Woman discus thrower Seema Punia grabbed a silver, boxer Pinki Jangra brought home a bronze, while pugilists and paddlers assured the nation of at least three more silver medals on day eight of...
Read more on Sport Balla
 
Four Indian boxers in final, Pinki takes bronze (Roundup)
Glasgow, Aug 2 (IANS) Four Indian boxers -- L. Sarita Devi, L. Devendro Singh, Mandeep Jangra and Vijender Singh -- made it into their respective gold medal bouts after Pinki Jangra lost her semi-final to settle for...
Read more on Sport Balla
 
Sharath-Amalraj settle for silver (Table Tennis Roundup)
Glasgow, Aug 2 (IANS) Veteran Achanta Sharath Kamal and Anthony Amalraj picked up the silver medal in the men's doubles table tennis after they lost 1-3 to Singapore's Hu Li and Ning Gao in the title clash of the 2014...
Read more on Sport Balla
 
Pallikal-Chinappa enter women's doubles squash finals (Roundup)
Glasgow, Aug 2 (IANS) India's star squash players Dipika Pallikal and Joshana Chinappa lived up to their names and potential to enter the women's doubles final at the Commonwealth Games here Friday. The Indian duo...
Read more on Sport Balla
 
Indian medal winners at the Commonwealth Games
Glasgow, Aug 2 (IANS) The following is the list of Indian medal winners at the 2014 Commonwealth Games here: Gold: Sanjita Khumukchan: women's 48 kg weightlifting Sukhen Dey: men's 56 kg weightlifting Abhinav Bindra:...
Read more on Sport Balla
 
Keith Urban reacts to ill-fated Massachusetts concert
Los Angeles, Aug 2 (IANS) Singer Keith Urban has broken his silence about his recent ill-fated concert in Massachusetts, where dozens of hospitalized fans and an arrest made for an alleged rape. "My team and I were...
Read more on Celebrity Balla