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Carl Icahn Got Creamed On A Bunch Of Companies You've Probably Never Heard Of

Linette Lopez   

Carl Icahn Got Creamed On A Bunch Of Companies You've Probably Never Heard Of
Finance2 min read

carl icahn

Reuters

Billionaire investor Carl Icahn's holding company posted a $355 million loss on revenues of $4.4 billion in its third quarter earnings report.

Icahn Enterprises took in a net income of $472 million on revenue of $5.8 billion at the same time last year.

Icahn said in the release that $270 million of those losses were on the investing side of his business.

More specifically, Icahn got clobbered on some energy investments.

Now you may be saying to yourself - Apple, Ebay, Hertz, Herbalife... these well-known Icahn investment are certainly not energy companies.

That's because these unsexy segments of Icahn's portfolio that are often overlooked. Let's go over them.

Talisman Energy

Icahn tweeted that he had a 6% stake in the company, about 61 million shares of the $300 million company, over a year ago, Oct. 7th, 2013. In that time the stock has fallen over over 50%.

talisman energy

Yahoo Finance

CVR Energy

This Icahn subsidiary posted dismal 3rd quarter earnings - down to 9 cents a share from 51 cents a share - due in part to a fire in one of its refineries. In the period from April 30th 2014 to September 30th 2014 the stock whipsawed down 9%.

Federal-Mogul Holdings

Not an energy company (auto supply) but Icahn owns 80% of this company, and it posted a third quarter loss of $18 million.

Seventy Seven Energy

Icahn reported a 10% stake in the Oklahoma-based oilfield services company this summer. In its 3rd quarter earnings the company reported a $1.8 million loss. The stock also fell around 7% between the time Icahn acquired it and September 30, 2014.

Chesapeake Energy

Icahn is the largest shareholder in Chesapeake with 66,450,000 shares, and the stock fell over 15% in the third quarter.

Transocean Limited

According to recent filings Transocean makes up 2.5% of the Icahn portfolio . In the third quarter the stock lost 25% of its value.

transocean

Yahoo Finance

This, of course, is just one quarter as Icahn himself points out in his note to investors.

"As I've said in the past, while I am extremely proud of our long term record, there have always been sporadic speed bumps along the road. However, I believe over the long term, our model continues to be one of the best in the world," he said.

So that's that.

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