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
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...