By Pete Gallo
Carl Icahn's hedge fund portfolio is starting to look a little bit like a crowded medicine cabinet these days. And it may not be a stretch to call it a cabinet full of wonder drugs, at least from a recent return perspective.
Sure, the drug sector has been on a rebound after bottoming out late last year. But in Icahn's case this isn't just passive medicine - at least not with his two biggest sector holdings, Amylin Pharmaceuticals and Biogen Idec. In February the activist investor proposed a massive overhaul of the boards of the two companies.
Both proposals managed to inspire a healthy market reception.
Let's consider Amylin first. Filings with the Securities and Exchange Commission show that Icahn upped his stake in Amylin by some 845,000 shares on February 1. This addition grew his portfolio holdings in the drug...