Saturday, 20 December 2014
Last updated 17 hours ago
Jan 22 2014 | 1:41pm ET
Approaching his 78th birthday, Carl Icahn is showing no signs of slowing down.
The billionaire's investment fund returned 31% last year, more than three times the gain of the average hedge fund, his Icahn Enterprises said in a recent presentation. And Icahn has at last revealed the size of his position in Apple Inc.—and it is now more than $3 billion.
Icahn's fund benefited from huge gains by big holdings such as Netflix, Chesapeake Energy, Forest Laboratories and Herbalife. In addition, Icahn Enterprises stock jumped 158% in 2013.
In 2014, Icahn is betting big on Apple, which is now his largest holding, $1 billion larger than his investment in Forest. Icahn said today on Twitter that he had bought another $500 million in Apple shares over the past two weeks, increasing his stake in the company to more than $3 billion yesterday.
Icahn had not previously disclosed the size of his Apple horde.
"Since tweeting about our large position in $AAPL on Aug 13, when the stock was $468 per share, we've kept buying shares of this 'no brainer,'" he said. Apple shares were trading at about $550 today
"No brainer" it might be, but that doesn't mean Icahn thinks it can't be made better: He has pushed Apple to hold a $150 billion share buyback, and is promoting a non-binding shareholder resolution calling for Apple to launch a $50 billion program right away.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
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