So, Carl Icahn bought another $245.6 million worth of Icahn Enterprises (IEP +1.76%). It’s like when you realize you’ve spent all your money on lottery tickets, then buy more lottery tickets. A sound strategy, really. It happened on February 17, 2026, which, let’s be honest, feels approximately 7 years too late for everything.
Let’s Break It Down (If You Must)
The filing shows Icahn scooped up 30,467,595 shares in the fourth quarter. That brings his total holding to a cool 549,400,539 shares. Which, quick math, is a lot of shares. The value of the stake actually decreased by $221.44 million, which is corporate-speak for “we’re not entirely sure what’s happening.”
The Numbers (Because We Have To)
- As of December 31, 2025, nearly half (49.1%) of the fund’s U.S. equity holdings are now IEP. It’s good to have a type, I guess.
- Here’s the Top 5, for those keeping score:
- NASDAQ: IEP: $4,147,974,070 (49.1% of AUM – Assets Under Management. A phrase designed to make you feel deeply inadequate.)
- 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 trading at $7.99. Down 0.62% over the year and trailing the S&P 500 by a whopping 31.32 percentage points. I’m sensing a theme here.
A Quick IEP Refresher (For Those Who Haven’t Googled It Yet)
Icahn Enterprises is…well, it’s a conglomerate. They do everything. Investment management, energy, fertilizers, automotive parts, food packaging, real estate, home fashion, pharmaceuticals. It’s like they threw a dart at a list of industries and said, “Let’s do those.” They make money by investing, manufacturing, selling stuff, and building things. Basically, they’re diversified. Which is corporate-speak for “we’re hedging our bets.”
| 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 |
What Does This Mean For Investors? (Hold On To Your Hats)
Icahn buying more of his own company is…familiar. It’s the corporate equivalent of ordering pizza when you’re already full. It suggests he thinks it’s the best place for his money. Or, you know, he’s running out of options. 49.1% of the fund’s assets are now in IEP. That’s…a lot. It’s like putting all your eggs in one very, very wobbly basket.
And then there’s the 25% dividend yield. That’s either incredibly generous or a giant red flag. It’s the kind of yield that makes financial advisors sweat. The stock is down 88% over the last five years. Despite Icahn’s legendary investing skills. And the fund holds over 549 million shares of IEP, out of a total of 600 million outstanding. Which means they may need to find a new stock to invest in soon. Just a thought.
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2026-02-27 05:13