Carl Icahn (Barely) Snaps a Six-Year Losing Streak

The legendary activist investor squeezed out the first performance gain in his internal hedge fund in seven years.

Stephen Taub March 4, 2026

Carl Icahn’s internal hedge fund staged a stunning fourth-quarter rally, barely avoiding a seventh straight annual loss.The portfolio climbed nearly 10 percent in the final three months of the year. As a result, it finished 2025 in the black — eking out a puny 40-basis-point

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