Thursday, 5 May 2016
Last updated 48 min ago
May 15 2014 | 2:46pm ET
Carl Icahn is going to need an impressive run the rest of the year if he’s to keep up his recent torrid pace.
Icahn Enterprises lost 0.4% in the first quarter, Forbes reports. Much of the decline can be attributed to Icahn’s big bet on nutritional supplements company Herbalife, whose stock has plummeted this year amidst a number of state and federal investigations.
Icahn is still up significantly on the Herbalife investment.
The loss was offset by a big win for Icahn’s second-biggest investment at the start of the year, Forest Laboratories, which in February was acquired for $25 billion.
Icahn has returned an annualized 27% over the past five years, including a 30.8% rise last year.