Thursday, 3 September 2015
Last updated 2 hours 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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…