Icahn’s investment fund, which he uses to bet on stocks with his own money and money belonging to his publicly-traded Icahn Enterprises, fell by 0.4% in the first three months of the year, according to an investment presentation released by Icahn Enterprises.
Icahn’s down quarter meant he trailed the market by a slim margin, with the Standard & Poor’s 500 index returning 1.81% in the first quarter. His first-quarter performance was hit by the drop in the shares of Herbalife, which plunged by 27% in the first three months of the year. Icahn is the biggest shareholder in Herbalife, which hedge fund billionaire Bill Ackman calls a pyramid scheme and has shorted in a big way. In March, news broke that federal regulators were investigating Herbalife, helping to drive down the company’s shares. Icahn is still sitting on a big overall gain on his shares of Herbalife, which soared last year.
Carl Icahn Has Chosen Trolling Bill Ackman Over Making Money
He can't take it with him...but neither will Bill.