null (IEP) filed Amended Quarterly Report for the period ended 2009-03-31.
ICAHN ENTERPRISES L.P. formerly American Real Estate Partners L.P. is a diversified holding company engaged in a variety of businesses. Their businesses currently include investment management metals real estate and home fashion. Icahn Enterprises L.P. is a Delaware master limited partnership. null has a market cap of $2.94 billion; its shares were traded at around $39.28 with and P/S ratio of 0.6. The dividend yield of null stocks is 2.5%.
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Overview Introduction Icahn Enterprises L.P., or Icahn Enterprises, is a master limited partnership formed in Delaware on February 17, 1987. We own a 99% limited partner interest in Icahn Enterprises Holdings L.P., or Icahn Enterprises Holdings. Icahn Enterprises Holdings and its subsidiaries own substantially all of our assets and liabilities and conduct substantially all of our operations. Icahn Enterprises G.P. Inc., or Icahn Enterprises GP, our sole general partner, which is owned and controlled by Mr. Carl C. Icahn, owns a 1% general partner interest in both us and Icahn Enterprises Holdings, representing an aggregate 1.99% general partner interest in us and Icahn Enterprises Holdings. As of March 31, 2009, affiliates of Mr. Icahn owned 68,740,822 of our depositary units and 11,360,173 of our preferred units, which represented approximately 91.9% and 86.5% of our outstanding depositary units and preferred units, respectively.
Continued volatility characterized the first quarter of fiscal 2009, with the S&P 500 index down nearly 11% during this period. Despite the volatility, the Private Funds had a positive return for the first quarter of fiscal 2009. We believe that the continuation of constrained credit markets and a deepening global recession will continue to impact price volatility and asset values. The Private Funds’ positive performance was primarily attributable to their short equity and short credit positions for the first quarter of fiscal 2009. Additionally, for the first quarter of fiscal 2009, the Private Funds’ long equity, credit and treasury positions were essentially flat. We expect that the remainder of fiscal 2009 will continue to present opportunities for capitalizing on distressed investing. Based on values at March 31, 2009, the Private Funds have received redemption notices of approximately 10% of the net assets under management as of March 31, 2009 for redemptions effective June 30, 2009.
Since inception in November 2004, the Private Funds’ gross returns are 32.7%, representing an annualized rate of return of 6.6% through March 31, 2009, which is indicative of a typical investor who has invested since inception of the Private Funds. Past performance is not necessarily indicative of future results, particularly in the near-term given current market conditions.
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