Icahn Enterprises Group May Own 87.69% of Units

Reporting persons may be deemed to beneficially own approximately 87.69% of IEP's outstanding depositary units.

Rhea-AI Filing Summary

Icahn Enterprises L.P. issued 40,531,194 depositary units to five reporting entities on September 23, 2026, in connection with its regular quarterly distribution. CCI Onshore received 8,659,767 units, Gascon Partners received 5,571,413, High Coast Limited Partnership received 20,309,942, Highcrest Investors received 4,477,088, and Thornwood Associates Limited Partnership received 1,512,984.

The reporting persons may be deemed to beneficially own 658,924,537 units, approximately 87.69% of IEP's outstanding depositary units. The reported ownership includes indirect attributions through related entities, and certain entities disclaim beneficial ownership for other purposes.

Filing Explained

This Schedule 13D amendment reports that Carl C. Icahn may be deemed to share voting and dispositive power over 658,924,537 IEP units; the entities holding the underlying blocks report sole voting and dispositive power over their respective holdings.

Key Figures

Depositary units issued to reporting persons: 40,531,194 units Units received by CCI Onshore: 8,659,767 units Units received by Gascon Partners: 5,571,413 units +5 more

8 metrics

Depositary units issued to reporting persons 40,531,194 units Regular quarterly distribution on September 23, 2026

Units received by CCI Onshore 8,659,767 units September 23, 2026 quarterly distribution

Units received by Gascon Partners 5,571,413 units September 23, 2026 quarterly distribution

Units received by High Coast Limited Partnership 20,309,942 units September 23, 2026 quarterly distribution

Units received by Highcrest Investors 4,477,088 units September 23, 2026 quarterly distribution

Units received by Thornwood Associates Limited Partnership 1,512,984 units September 23, 2026 quarterly distribution

Aggregate units beneficially owned 658,924,537 units Reporting persons may be deemed to beneficially own this amount

Share of outstanding depositary units Approximately 87.69% Reporting persons' deemed aggregate beneficial ownership

Key Terms

beneficial ownership, sole voting power, sole dispositive power, Rule 13d-3(a)

4 terms

beneficial ownership financial

"may be deemed to beneficially own"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

sole voting power financial

"has sole voting power and sole dispositive power"

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.

sole dispositive power financial

"has sole voting power and sole dispositive power"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

Rule 13d-3(a) regulatory

"Pursuant to Rule 13d-3(a) under the Exchange Act"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many depositary units did IEP distribute on September 23, 2026?

IEP issued 40,531,194 depositary units to five reporting entities in connection with its regular quarterly distribution. CCI Onshore received 8,659,767 units, Gascon Partners 5,571,413, High Coast Limited Partnership 20,309,942, Highcrest Investors 4,477,088, and Thornwood Associates Limited Partnership 1,512,984.

What percentage of IEP does the reporting group may be deemed to own?

The reporting persons may be deemed to beneficially own 658,924,537 depositary units, approximately 87.69% of IEP's outstanding units. The percentage is based on 710,915,093 units outstanding as of August 4, 2026, plus 40,531,194 units issued to the reporting persons on September 23, 2026.

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

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Available on EDGAR 09/25/2026 - 04:45 PM Accepted by SEC EDGAR 09/25/2026 - 04:45 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 86)

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)

09/23/2026

(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 140,783,739.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 140,783,739.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

140,783,739.00

12

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

13

Percent of class represented by amount in Row (11)

18.74 %

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 90,575,678.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 90,575,678.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

90,575,678.00

12

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

13

Percent of class represented by amount in Row (11)

12.05 %

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 330,183,150.00
8	Shared Voting Power 140,783,739.00
9	Sole Dispositive Power 330,183,150.00
10	Shared Dispositive Power 140,783,739.00

11

Aggregate amount beneficially owned by each reporting person

470,966,889.00

12

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

13

Percent of class represented by amount in Row (11)

62.67 %

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 72,785,046.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 72,785,046.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

72,785,046.00

12

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

13

Percent of class represented by amount in Row (11)

9.69 %

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 24,596,924.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 24,596,924.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

24,596,924.00

12

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

13

Percent of class represented by amount in Row (11)

3.27 %

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 24,596,924.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 24,596,924.00

11

Aggregate amount beneficially owned by each reporting person

24,596,924.00

12

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

13

Percent of class represented by amount in Row (11)

3.27 %

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 72,785,046.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 72,785,046.00

11

Aggregate amount beneficially owned by each reporting person

72,785,046.00

12

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

13

Percent of class represented by amount in Row (11)

9.69 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 451100101

1

Name of reporting person

MODAL 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 0.00
8	Shared Voting Power 72,785,046.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 72,785,046.00

11

Aggregate amount beneficially owned by each reporting person

72,785,046.00

12

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

13

Percent of class represented by amount in Row (11)

9.69 %

14

Type of Reporting Person (See Instructions)

CO, OO

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 561,542,567.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 561,542,567.00

11

Aggregate amount beneficially owned by each reporting person

561,542,567.00

12

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

13

Percent of class represented by amount in Row (11)

74.73 %

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 658,924,537.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 658,924,537.00

11

Aggregate amount beneficially owned by each reporting person

658,924,537.00

12

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

13

Percent of class represented by amount in Row (11)

87.69 %

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. 86 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, 658,924,537 Depositary Units, representing approximately 87.69% of the Issuer's outstanding Depositary Units (based upon (i) the 710,915,093 Depositary Units stated to be outstanding as of August 4, 2026, by the Issuer in its Form 10-Q filed with the Securities and Exchange Commission on August 5, 2026, plus (ii) the 40,531,194 Depositary Units issued to the Reporting Persons by the Issuer on September 23, 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 140,783,739 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 90,575,678 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 330,183,150 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 72,785,046 Depositary Units. Pursuant to Rule 13d-3(a) under the Exchange Act, each of Starfire, Modal LLC ("Modal"), which owns approximately 99.6% of Starfire and whose sole member is Mr. Icahn, 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, Modal 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 24,596,924 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 September 23, 2026, in connection with the quarterly dividend, CCI Onshore received 8,659,767 Depositary Units, Gascon received 5,571,413 Depositary Units, High Coast received 20,309,942 Depositary Units, Highcrest received 4,477,088 Depositary Units, and Thornwood received 1,512,984 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:	09/25/2026

Gascon Partners

Signature:	/s/ Rowella Asuncion-Gumabong
Name/Title:	Rowella Asuncion-Gumabong / Vice President
Date:	09/25/2026

High Coast Limited Partnership

Signature:	/s/ Rowella Asuncion-Gumabong
Name/Title:	Rowella Asuncion-Gumabong / Vice President
Date:	09/25/2026

Highcrest Investors LLC

Signature:	/s/ Rowella Asuncion-Gumabong
Name/Title:	Rowella Asuncion-Gumabong / Vice President
Date:	09/25/2026

Thornwood Associates Limited Partnership

Signature:	/s/ Rowella Asuncion-Gumabong
Name/Title:	Rowella Asuncion-Gumabong / Vice President
Date:	09/25/2026

Barberry Corp.

Signature:	/s/ Rowella Asuncion-Gumabong
Name/Title:	Rowella Asuncion-Gumabong / Vice President
Date:	09/25/2026

Starfire Holding Corporation

Signature:	/s/ Rowella Asuncion-Gumabong
Name/Title:	Rowella Asuncion-Gumabong / Vice President
Date:	09/25/2026

MODAL LLC

Signature:	/s/ Jesse Lynn
Name/Title:	Jesse Lynn / Vice President
Date:	09/25/2026

Little Meadow Corp.

Signature:	/s/ Rowella Asuncion-Gumabong
Name/Title:	Rowella Asuncion-Gumabong / Vice President
Date:	09/25/2026

Carl C. Icahn

Signature:	/s/ Carl C. Icahn
Name/Title:	CARL C. ICAHN
Date:	09/25/2026