Icahn Loads Up 30.5 Million IEP Shares Worth $245.6 Million
Key Points
Bought 30,467,595 IEP shares; estimated transaction value of $245.63 million based on quarterly average pricing.
Quarter-end position value fell by $221.44 million, reflecting both share purchases and price movement.
Transaction represented a 2.91% increase relative to ICAHN CARL C’s 13F reportable assets under management.
Post-trade position: 549,400,539 shares valued at $4.15 billion.
IEP now accounts for 49.1% of fund AUM, making it the fund’s largest disclosed holding.
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On February 17, 2026, ICAHN CARL C disclosed a buy of Icahn Enterprises (NASDAQ:IEP).
What happened
According to a recent SEC filing, ICAHN CARL C increased its stake in Icahn Enterprises by 30,467,595 shares during the fourth quarter. The estimated value of this purchase was $245.63 million, calculated using the average closing price over the quarter. As a result, the fund’s quarter-end position in IEP rose to 549,400,539 shares, with the total value of the stake decreasing by $221.44 million compared to the previous filing.
What else to know
- This was a buy transaction, bringing the fund's IEP position to 49.1% of its reportable U.S. equity holdings as of December 31, 2025.
- Top five holdings after the filing:
- NASDAQ: IEP: $4,147,974,070 (49.1% of AUM)
- NYSE: CVI: $1,791,445,902 (21.2% of AUM)
- NYSE: SWX: $482,728,972 (5.7% of AUM)
- NYSE: UAN: $426,838,085 (5.1% of AUM)
- NASDAQ: SATS: $364,638,715 (4.3% of AUM)
- As of February 17, 2026, IEP shares were priced at $7.99, down 0.62% over the prior year, trailing the S&P 500 by 31.32 percentage points.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $8.63 billion |
| Net income (TTM) | ($299.00 million) |
| Dividend yield | 25.02% |
| Price (as of market close February 17, 2026) | $7.99 |
Company snapshot
- Products and services span investment management, energy refining and fertilizers, automotive parts and services, food packaging, real estate, home fashion, and pharmaceuticals.
- The company generates revenue through diversified operations, including proprietary capital investments, manufacturing, retail and wholesale distribution, and real estate development and leasing.
- Primary customers include institutional investors, industrial clients, automotive consumers, food manufacturers, real estate buyers and tenants, and healthcare providers.
Icahn Enterprises is a diversified conglomerate with significant operations across multiple sectors, including energy, automotive, and real estate.
What this transaction means for investors
The increase in shares in Icahn Enterprises may tell a lot about Carl Icahn’s fund. Such a move is reminiscent of when Warren Buffett would buy shares in his own company, Berkshire Hathaway, presumably because he could not find better investments.
With the purchase, 49.1% of the fund’s assets are now in Icahn Enterprises stock, the largest of its 13 holdings.
Investors might also note the 25% dividend yield, a payout that tends to inspire alarm bells rather than bargain hunting. Such high yields tend to call a payout’s sustainability into question.
Indeed, the industrial stock is down by about 88% over the last five years despite Icahn’s legendary success as an investor. Additionally, the fund holds more than 549 million shares of Icahn Enterprises, comprising the majority of its 600 million shares outstanding, implying it may have to find a new stock in which to invest in the near future.
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Will Healy has positions in Berkshire Hathaway. The Motley Fool has positions in and recommends Berkshire Hathaway. The Motley Fool has a disclosure policy.
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