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Legendary corporate raider Carl Icahn recently announced that he will be returning $1.76 Billion back to his investors. We believe Icahn is still bullish about the market. Carl Icahn is a very smart man and following his moves in the market could have made investors a lot of money. For instance on December 20th Carl Icahn revealed a 5.8% stake in Chesapeake Energy (NYSE:CHK) and CHK immediately jumped 3%. However, that wasn’t the end of it. Even if you had waited till the last day of trading in 2010 and bought CHK at the close, your return could have been 28.8% in less than three months.

We believe imitating Carl Icahn can benefit ordinary investors. Icahn’s top 20 holdings in his 13F portfolio returned 8.2% since the end of December, vs. SPY’s 5.3% return. Here is how his profitable bets performed so far this year:

Company

Ticker

Return

Value (X1000)

MOTOROLA INC

MOT

4.6%

1944939

BIOGEN IDEC INC

BIIB

6.0%

862277

GENZYME CORP

GENZ

6.8%

746176

CHESAPEAKE ENERGY CORP

CHK

28.8%

541017

LIONS GATE ENTERTAINMENT

LGF

-4.6%

232496

AMYLIN PHARMACEUTICALS

AMLN

-26.9%

211558

MENTOR GRAPHICS CORP

MENT

22.3%

154755

HAIN CELESTIAL GROUP INC

HAIN

22.0%

144807

LAWSON SOFTWARE INC

LWSN

29.2%

125633

TAKE TWO INTERACTIVE

TTWO

29.8%

120497

REGENERON PHARMACEUTICALS

REGN

32.4%

80239

CYBERONICS INC

CYBX

3.2%

65389

MATTEL INC

MAT

-0.8%

61681

COMMERCIAL METALS CO

CMC

3.0%

61267

ENZON PHARMACEUTICALS INC

ENZN

-14.1%

57490

DYNEGY INC DEL

DYN

3.9%

53952

MASCO CORP

MAS

9.7%

52893

N R G ENERGY INC

NRG

10.5%

46444

FOREST LABS INC

FRX

-2.7%

38796

EXELIXIS INC

EXEL

44.0%

19352

Motorola’s spinoff was completed on January 4th and MOT was split into Motorola Solutions (NYSE:MSI) and Motorola Mobility (NYSE:MMI). Icahn’s Motorola investment returned 4.6% since the end of 2010. His best performing stocks are Exelixis (NASDAQ:EXEL), Regeneron Pharma (NASDAQ:REGN), Take Two (NASDAQ:TTWO), Lawson Software (NASDAQ:LWSN) and Chesapeake Energy (CHK). These stocks returned at least 28.8% in less than three months. Seth Klarman’s Baupost also has REGN in its portfolio. George Soros is also bullish about LWSN. Jim Simons has a relatively small TTWO position in his portfolio. Finally T. Boone Pickens is very bullish about CHK.

Source: Carl Icahn's Favorite Stocks