Carl Icahn (IEP) updates control to 87.28% of Icahn Enterprises units

Rhea-AI Filing Summary

Icahn-related entities filed Amendment No. 85 to their Schedule 13D on Icahn Enterprises L.P., updating their ownership following a unit distribution. The reporting persons may be deemed to beneficially own 618,393,343 Depositary Units, representing about 87.28% of Icahn Enterprises’ outstanding Depositary Units.

This percentage is based on 672,050,553 Depositary Units outstanding as of May 6, 2026, plus 36,456,030 Depositary Units issued to the reporting persons on June 25, 2026 as a regular quarterly distribution. The filing details how various Icahn-controlled entities, including CCI Onshore, Gascon, High Coast, Highcrest, Thornwood, Barberry, Starfire and Little Meadow, hold and share voting and dispositive power, with Carl C. Icahn deemed to share beneficial ownership of 618,393,343 units through these structures.

Insights

Corporate governance analyst

Icahn-affiliated entities reaffirm an 87.28% control stake in Icahn Enterprises via a unit distribution.

The amendment shows Carl C. Icahn and affiliated entities collectively may be deemed to beneficially own 618,393,343 Depositary Units of Icahn Enterprises L.P., or about 87.28% of the outstanding class. This reinforces long-standing majority control rather than signaling a new strategic move.

The increase in reported holdings stems from a regular quarterly distribution of 36,456,030 Depositary Units on June 25, 2026, allocated among entities such as CCI Onshore, Gascon, High Coast, Highcrest and Thornwood. Future company actions will largely be shaped by this entrenched control structure, as documented under Schedule 13D rules.

Key Figures

Beneficial ownership: 618,393,343 Depositary Units Ownership percentage: 87.28% Units outstanding baseline: 672,050,553 Depositary Units +5 more

8 metrics

Beneficial ownership 618,393,343 Depositary Units Aggregate units beneficially owned by reporting persons

Ownership percentage 87.28% Percent of Icahn Enterprises Depositary Units outstanding

Units outstanding baseline 672,050,553 Depositary Units Units stated outstanding as of May 6, 2026

Quarterly distribution 36,456,030 Depositary Units Units issued to reporting persons on June 25, 2026

High Coast holding 309,873,208 Depositary Units Sole voting and dispositive power reported by High Coast

CCI Onshore holding 132,123,972 Depositary Units Sole voting and dispositive power reported by CCI Onshore

Little Meadow shared power 527,001,445 Depositary Units Shared voting and dispositive power reported by Little Meadow

Highcrest holding 68,307,958 Depositary Units Sole voting and dispositive power reported by Highcrest

Key Terms

Schedule 13D, beneficially own, Rule 13d-3(a), Depositary Units Representing Limited Partner Interests, +2 more

6 terms

Schedule 13D regulatory

"The Initial 13D is hereby further amended to furnish the additional information set forth in this Amendment No. 85"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

beneficially own financial

"The Reporting Persons may be deemed to beneficially own, in the aggregate, 618,393,343 Depositary Units"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

Rule 13d-3(a) regulatory

"Pursuant to Rule 13d-3(a) under the Exchange Act, each of High Coast, Little Meadow and Mr. Icahn may be deemed to indirectly beneficially own"

Depositary Units Representing Limited Partner Interests financial

"Title of Class of Securities: Depositary Units Representing Limited Partner Interests"

sole voting power financial

"CCI Onshore has sole voting power and sole dispositive power with respect to 132,123,972 Depositary Units"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

dispositive power financial

"High Coast has sole voting power and sole dispositive power with respect to 309,873,208 Depositary Units"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 06/29/2026 - 09:00 PM Accepted by SEC EDGAR 06/29/2026 - 09:00 PM Learn about SEC filing dates

FAQ

How many Icahn Enterprises (IEP) units do the reporting persons now beneficially own?

The reporting persons may be deemed to beneficially own 618,393,343 Depositary Units of Icahn Enterprises. This figure reflects their aggregate holdings after receiving additional units through a regular quarterly distribution completed on June 25, 2026.

What percentage of Icahn Enterprises (IEP) does Carl Icahn now control according to this Schedule 13D/A?

Carl C. Icahn is deemed to share beneficial ownership of 618,393,343 units, representing about 87.28% of Icahn Enterprises’ outstanding Depositary Units. This confirms his continued dominant control position in the partnership.

How was the 87.28% ownership of Icahn Enterprises (IEP) calculated in this amendment?

The 87.28% figure is based on 672,050,553 Depositary Units stated outstanding as of May 6, 2026, plus 36,456,030 units issued to the reporting persons on June 25, 2026 as a regular quarterly distribution.

Which Icahn-affiliated entities hold significant stakes in Icahn Enterprises (IEP)?

Major holders include High Coast Limited Partnership with 309,873,208 units, Little Meadow Corp. with 527,001,445 units of shared power, and other entities such as CCI Onshore, Gascon, Highcrest, Thornwood, Barberry, and Starfire, all linked to Carl C. Icahn.

Did Icahn Enterprises (IEP) insiders buy units on the market in this Schedule 13D/A update?

The amendment states that, aside from the quarterly dividend, none of the reporting persons effected transactions in Icahn Enterprises’ securities during the past 60 days. The change in holdings results from a regular unit distribution by the issuer.

How many Icahn Enterprises (IEP) units were issued in the June 25, 2026 quarterly distribution?

The filing attributes an additional 36,456,030 Depositary Units to the reporting persons from the June 25, 2026 regular quarterly distribution. These units increased their aggregate beneficial holdings to 618,393,343 units.

What is the role of Schedule 13D/A Amendment No. 85 for Icahn Enterprises (IEP)?

Amendment No. 85 further updates the original Schedule 13D first filed in 1990. It revises beneficial ownership details, reflecting the latest unit distribution and confirming that Icahn-affiliated entities still control a large majority of outstanding Depositary Units.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 85)

Icahn Enterprises L.P.

(Name of Issuer)

Depositary Units Representing Limited Partner Interests

(Title of Class of Securities)

451100101

(CUSIP Number)

Jesse Lynn, Esq.
16690 Collins Avenue, Suite PH-1,
Sunny Isles Beach, FL, 33160
(305) 422-4100

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

06/25/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 451100101

1

Name of reporting person

CCI Onshore LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 132,123,972.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 132,123,972.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

132,123,972.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

18.65 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP Number(s): 451100101

1

Name of reporting person

Gascon Partners

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 85,004,265.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 85,004,265.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

85,004,265.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

12.00 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): 451100101

1

Name of reporting person

High Coast Limited Partnership

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 309,873,208.00
8	Shared Voting Power 132,123,972.00
9	Sole Dispositive Power 309,873,208.00
10	Shared Dispositive Power 132,123,972.00

11

Aggregate amount beneficially owned by each reporting person

441,997,180.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

62.38 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): 451100101

1

Name of reporting person

Highcrest Investors LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 68,307,958.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 68,307,958.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

68,307,958.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

9.64 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP Number(s): 451100101

1

Name of reporting person

Thornwood Associates Limited Partnership

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 23,083,940.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 23,083,940.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

23,083,940.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

3.26 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): 451100101

1

Name of reporting person

Barberry Corp.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 23,083,940.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 23,083,940.00

11

Aggregate amount beneficially owned by each reporting person

23,083,940.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

3.26 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 451100101

1

Name of reporting person

Starfire Holding Corporation

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 68,307,958.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 68,307,958.00

11

Aggregate amount beneficially owned by each reporting person

68,307,958.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

9.64 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 451100101

1

Name of reporting person

Little Meadow Corp.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 527,001,445.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 527,001,445.00

11

Aggregate amount beneficially owned by each reporting person

527,001,445.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

74.38 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 451100101

1

Name of reporting person

Carl C. Icahn

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 618,393,343.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 618,393,343.00

11

Aggregate amount beneficially owned by each reporting person

618,393,343.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

87.28 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Depositary Units Representing Limited Partner Interests
(b)	Name of Issuer: Icahn Enterprises L.P.
(c)	Address of Issuer's Principal Executive Offices: 16690 COLLINS AVE,, PH-1, SUNNY ISLES BEACH, FLORIDA , 33160.
Item 1 Comment: The Schedule 13D filed with the U.S. Securities and Exchange Commission ("SEC") on September 24, 1990, as previously amended (the "Initial 13D"), is hereby further amended to furnish the additional information set forth in this Amendment No. 85 to the Initial 13D. All capitalized terms contained herein but not otherwise defined shall have the meanings ascribed to such terms in the Initial 13D.
Item 5.	Interest in Securities of the Issuer
(a)	The Reporting Persons may be deemed to beneficially own, in the aggregate, 618,393,343 Depositary Units, representing approximately 87.28% of the Issuer's outstanding Depositary Units (based upon (i) the 672,050,553 Depositary Units stated to be outstanding as of May 6, 2026, by the Issuer in its Form 10-Q filed with the Securities and Exchange Commission on May 6, 2026, plus (ii) the 36,456,030 Depositary Units issued to the Reporting Persons by the Issuer on June 25, 2026, in connection with a regular quarterly distribution of Depositary Units by the Issuer).
(b)	CCI Onshore has sole voting power and sole dispositive power with respect to 132,123,972 Depositary Units. Pursuant to Rule 13d-3(a) under the Exchange Act, each of High Coast, Little Meadow and Mr. Icahn (by virtue of their relationships to CCI Onshore) may be deemed to indirectly beneficially own the Depositary Units which CCI Onshore owns. Each of High Coast, Little Meadow and Mr. Icahn disclaims beneficial ownership of the Depositary Units for all other purposes. Gascon has sole voting power and sole dispositive power with respect to 85,004,265 Depositary Units. Pursuant to Rule 13d-3(a) under the Exchange Act, each of Little Meadow and Mr. Icahn (by virtue of their relationships to Gascon) may be deemed to indirectly beneficially own the Depositary Units which Gascon owns. Each of Little Meadow and Mr. Icahn disclaims beneficial ownership of the Depositary Units for all other purposes. High Coast has sole voting power and sole dispositive power with respect to 309,873,208 Depositary Units. Pursuant to Rule 13d-3(a) under the Exchange Act, each of Little Meadow and Mr. Icahn (by virtue of their relationships to High Coast) may be deemed to indirectly beneficially own the Depositary Units which High Coast owns. Each of Little Meadow and Mr. Icahn disclaims beneficial ownership of the Depositary Units for all other purposes. Highcrest has sole voting power and sole dispositive power with respect to 68,307,958 Depositary Units. Pursuant to Rule 13d-3(a) under the Exchange Act, each of Starfire and Mr. Icahn (by virtue of their relationships to Highcrest) may be deemed to indirectly beneficially own the Depositary Units which Highcrest owns. Each of Starfire and Mr. Icahn disclaims beneficial ownership of the Depositary Units for all other purposes. Thornwood has sole voting power and sole dispositive power with respect to 23,083,940 Depositary Units. Pursuant to Rule 13d-3(a) under the Exchange Act, each of Barberry and Mr. Icahn (by virtue of their relationships to Thornwood) may be deemed to indirectly beneficially own the Depositary Units which Thornwood owns. Each of Barberry and Mr. Icahn disclaims beneficial ownership of the Depositary Units for all other purposes.
(c)	Except for the acquisition of Depositary Units from the Issuer in connection with a quarterly dividend, none of the Reporting Persons effected any transactions in the Issuer's securities during the past sixty (60) days. On June 25, 2026, in connection with the quarterly dividend, CCI Onshore received 7,789,081 Depositary Units, Gascon received 5,011,241 Depositary Units, High Coast received 18,267,900 Depositary Units, Highcrest received 4,026,945 Depositary Units, and Thornwood received 1,360,863 Depositary Units.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

CCI Onshore LLC

Signature:	/s/ Rowella Asuncion-Gumabong
Name/Title:	Rowella Asuncion-Gumabong / Vice President
Date:	06/29/2026

Gascon Partners

Signature:	/s/ Rowella Asuncion-Gumabong
Name/Title:	Rowella Asuncion-Gumabong / Vice President
Date:	06/29/2026

High Coast Limited Partnership

Signature:	/s/ Rowella Asuncion-Gumabong
Name/Title:	Rowella Asuncion-Gumabong / Vice President
Date:	06/29/2026

Highcrest Investors LLC

Signature:	/s/ Rowella Asuncion-Gumabong
Name/Title:	Rowella Asuncion-Gumabong / Vice President
Date:	06/29/2026

Thornwood Associates Limited Partnership

Signature:	/s/ Rowella Asuncion-Gumabong
Name/Title:	Rowella Asuncion-Gumabong / Vice President
Date:	06/29/2026

Barberry Corp.

Signature:	/s/ Rowella Asuncion-Gumabong
Name/Title:	Rowella Asuncion-Gumabong / Vice President
Date:	06/29/2026

Starfire Holding Corporation

Signature:	/s/ Rowella Asuncion-Gumabong
Name/Title:	Rowella Asuncion-Gumabong / Vice President
Date:	06/29/2026

Little Meadow Corp.

Signature:	/s/ Rowella Asuncion-Gumabong
Name/Title:	Rowella Asuncion-Gumabong / Vice President
Date:	06/29/2026

Carl C. Icahn

Signature:	/s/ Carl C. Icahn
Name/Title:	CARL C. ICAHN
Date:	06/29/2026