Bonus, Severance: Carl Icahn, Bill Ackman Why activist investor Carl Icahn is up, and rival hedge fund manager Bill Ackman is down. Related Articles Chris Hohn’s TCI Tops Hedge Fund Gains in 2025 Michelle Celarier Bill Ackman’s Big Year Came from AI, Trump — And an Insurance Play Michelle Celarier How Ultra 10-Year Futures Became a Treasury Benchmark Sponsored by CME Group