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      For more than 55 years, Institutional Investor has delivered the news and analysis that investment professionals need to succeed and stay relevant. Our coverage of the global asset management industry helps you to stay ahead of the curve on the trends and stories that impact your world.

      The Five Ds of 2025

      The Five Ds of 2025
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      Flow of Capital Into Japan Shows Industry Reform Is Working
      CIO Lens Q4 2025: Seeking Resilience as Clouds Form

      CIO Lens Q4 2025: Seeking Resilience as Clouds Form
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      Will Private Equity’s ‘Window of Opportunity’ Last?
      The Shifting Value Dynamics Between Winter Wheats

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      European Managers Say They Will Continue to Tap Institutional Opportunities in the U.S.

      European Managers Say They Will Continue to Tap Institutional Opportunities in the U.S.
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      International Families Are Increasing U.S. Exposure Despite Policy Shifts
      Navigating the Multifamily Market Cycle: WDIP’s Strategic Approach to Emerging Opportunities

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      Private Markets, Public Access

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      Will 2025 Be the Year of Diversification in Equities?

      Will 2025 Be the Year of Diversification in Equities?
      Artificial Intelligence, Meet Private Equity. They’re Here to Help.

      Artificial Intelligence, Meet Private Equity. They’re Here to Help.
      Model Portfolios to Deliver Alternative Asset Exposure

      Model Portfolios to Deliver Alternative Asset Exposure
      Solana vs. Bitcoin vs. Ethereum: How Do They Compare?

      Solana vs. Bitcoin vs. Ethereum: How Do They Compare?
      Open Architecture and Next-Gen Technology Help Support Model Delivery

      Open Architecture and Next-Gen Technology Help Support Model Delivery
      Large Universities Like Michigan Benefited from Early Bets on AI, Crypto

      Large Universities Like Michigan Benefited from Early Bets on AI, Crypto
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      A Short Seller’s AI Exercise Paints a Dire Picture of Private Equity
      What Sustainable Investors Got Wrong — And Why It Is Still the Future of Finance

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      Podcast- Capturing Alpha: A Bridge Between Quantitative and Fundamental Disciplines

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      Seattle Children’s CIO Puts Conviction Over Diversification
      Cleveland Clinic Alum Joins Sanford Health as First CIO

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      Hinge Health’s Planned IPO Attracts a Trio of High-Profile Investors
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      Will Short Seller Andrew Left’s Latest Gambit to Prove His Innocence Work?
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      Susan Ridlen is ‘Not Leaving the Institutional World’ Despite Leaving Eli Lilly
      Citi Wealth's Family Office Head to Depart

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      Electron Capital’s Energy Strategy Keeps Winning — Even Through a Change at the Top
      Podcast- Capturing Alpha: A Bridge Between Quantitative and Fundamental Disciplines

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      Private Markets Investment Outlook Q2 2025: Opportunities Amid Uncertainty
      VC Is Down — But Private Placements for Post-IPO Companies Are Up

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      Franklin Templeton and Binance Launch Digital Asset Collaboration

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      Will Short Seller Andrew Left’s Latest Gambit to Prove His Innocence Work?

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      Light Street’s October Gain Puts the Fund Above Its High-Water Mark

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      Why Families Need to Plan for Death While Still Alive

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      Building a Championship Investment Roster

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      European Managers Say They Will Continue to Tap Institutional Opportunities in the U.S.

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      How Short Sellers Are Surviving a Crazy Bull Market — While Waiting for It to End

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      Navigating the Multifamily Market Cycle: WDIP’s Strategic Approach to Emerging Opportunities

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      Greenlight’s October Rebound Fails to Close Gap With S&P

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      The Debate Over Private Credit Returns Is Just Heating Up

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      Large Universities Like Michigan Benefited from Early Bets on AI, Crypto

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      Lone Pine Bets on Etsy
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      Light Street’s October Gain Puts the Fund Above Its High-Water Mark
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      Susan Ridlen is ‘Not Leaving the Institutional World’ Despite Leaving Eli Lilly
      Will Private Equity’s ‘Window of Opportunity’ Last?

      Will Private Equity’s ‘Window of Opportunity’ Last?
      Citi Wealth's Family Office Head to Depart

      Citi Wealth's Family Office Head to Depart
      These Hedge Funds Benefit From Kenvue Deal

      These Hedge Funds Benefit From Kenvue Deal
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      Why Families Need to Plan for Death While Still Alive
      Building a Championship Investment Roster

      Building a Championship Investment Roster
      Navan Eyes $750M IPO Despite Shutdown, Coatue Among Backers

      Navan Eyes $750M IPO Despite Shutdown, Coatue Among Backers
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      U.S. Dollar at a Crossroads: Bearish Signals Persist, but Rebound Risks Rise
      Profit Pressure: Why COOs and CFOs are Bracing for a Tough 2025

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      Investors Reach for What They Recognize

      Investors Reach for What They Recognize
      CFOs and COOs Show Less Favor in Emerging Markets

      CFOs and COOs Show Less Favor in Emerging Markets
      Out with the Old, in with the New

      Out with the Old, in with the New
      Expert Perspectives: C-Suite Insights from II’s Exclusive Forums

      Expert Perspectives: C-Suite Insights from II’s Exclusive Forums
      Allocators and Asset Managers Tell Us What Concerns Them Most

      Allocators and Asset Managers Tell Us What Concerns Them Most
      Rising Federal Debt and Fewer Institutional Buyers Means an Increased Need for Private Credit

      Rising Federal Debt and Fewer Institutional Buyers Means an Increased Need for Private Credit
      Building a Championship Investment Roster

      Building a Championship Investment Roster
      Governance Influence Over Manager Selection Performance

      Governance Influence Over Manager Selection Performance
      Gold Glitters, But the World Still Turns

      Gold Glitters, But the World Still Turns
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      Investors Reach for What They Recognize

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      Cecelia Chen, Director of Investments, Carnegie Corporation

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      Michael Sinoway, Director, Investments, Penn State University

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      Ananya Handa, Senior Investment Associate, The Harry and Jeanette Weinberg Foundation

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      Chun Lai, Chief Investment Officer, The Rockefeller Foundation

      Chun Lai, Chief Investment Officer, The Rockefeller Foundation
      Geeta Kapadia, Chief Investment Officer, Fordham University

      Geeta Kapadia, Chief Investment Officer, Fordham University
      Kalina Berova, Managing Director, British Columbia Investment Management Corporation (BCI)

      Kalina Berova, Managing Director, British Columbia Investment Management Corporation (BCI)
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      CIOs Tell Us What Concerns Them Most in 2025

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      Expert Perspectives: C-Suite Insights from II’s Exclusive Forums

      Expert Perspectives: C-Suite Insights from II’s Exclusive Forums
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      CIO Lens Q4 2025: Seeking Resilience as Clouds Form

      CIO Lens Q4 2025: Seeking Resilience as Clouds Form
      Fireside Chat: Why We’re Bullish About Asset-Based Private Credit

      Fireside Chat: Why We’re Bullish About Asset-Based Private Credit
      The Shifting Value Dynamics Between Winter Wheats

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      Navigating the Multifamily Market Cycle: WDIP’s Strategic Approach to Emerging Opportunities

      Navigating the Multifamily Market Cycle: WDIP’s Strategic Approach to Emerging Opportunities
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      Podcast- Capturing Alpha: A Bridge Between Quantitative and Fundamental Disciplines

      Podcast- Capturing Alpha: A Bridge Between Quantitative and Fundamental Disciplines
      U.S. Dollar at a Crossroads: Bearish Signals Persist, but Rebound Risks Rise

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      Rising Federal Debt and Fewer Institutional Buyers Means an Increased Need for Private Credit

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      Trump 2.0 and the Markets

      Trump 2.0 and the Markets
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  • About Us
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Stephen Taub
Premium
Icahn’s Private Portfolio Lags Market Again, Poised for Another Annual Loss
The legendary investor’s private portfolio fell behind the S&P 500 by nearly 30 percentage points through September.
Stephen Taub November 10, 2025
abstract background

Carl Icahn’s private hedge fund suffered another quarterly loss, albeit a small one this time. The octogenarian’s portfolio lost 50 basis points in the September quarter.This brought the year-to-date decline to 9.3 percent, according to the quarterly filing of publicly traded holding company Icahn Enterprises.

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