Vault-13

ICAHN ENTERPRISES LP IEP

DEPOSITARY UNIT · MLP · CUSIP 451100101

119 institutional holders +7 vs Q1 2025
500,480,441500.5m shares reported held*
$4.0bnreported value*
17 new 46 added 26 reduced 14 sold out net bought ≈ $364.9m (+45.4m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $8.05. Options: 8 managers hold calls ($13.4m notional), 9 hold puts ($25.4m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 148Q4 22: 165Q1 23: 172Q2 23: 146Q3 23: 137Q4 23: 138Q1 24: 125Q2 24: 132Q3 24: 125Q4 24: 122Q1 25: 112Q2 25: 119119Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022148
Q4 2022165
Q1 2023172
Q2 2023146
Q3 2023137
Q4 2023138
Q1 2024125
Q2 2024132
Q3 2024125
Q4 2024122
Q1 2025112
Q2 2025119

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
1000100Q3 23: 74 bought or addedQ3 23: 65 cut or sold outQ4 23: 67 bought or addedQ4 23: 71 cut or sold outQ4 23Q1 24: 50 bought or addedQ1 24: 63 cut or sold outQ2 24: 82 bought or addedQ2 24: 40 cut or sold outQ2 24Q3 24: 73 bought or addedQ3 24: 52 cut or sold outQ4 24: 51 bought or addedQ4 24: 67 cut or sold outQ4 24Q1 25: 44 bought or addedQ1 25: 52 cut or sold outQ2 25: 63 bought or addedQ2 25: 40 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20237465
Q4 20236771
Q1 20245063
Q2 20248240
Q3 20247352
Q4 20245167
Q1 20254452
Q2 20256340

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$10m$20m$30m$40mQ3 24 calls: $31.1mQ3 24 puts: $33.8mQ3 24P/C 1.09Q4 24 calls: $13.6mQ4 24 puts: $15.2mQ4 24P/C 1.12Q1 25 calls: $14.8mQ1 25 puts: $9.9mQ1 25P/C 0.67Q2 25 calls: $13.4mQ2 25 puts: $25.4mQ2 25P/C 1.89
Numbers
QuarterCallsPutsP/C
Q3 2024$31.1m$33.8m1.09
Q4 2024$13.6m$15.2m1.12
Q1 2025$14.8m$9.9m0.67
Q2 2025$13.4m$25.4m1.89

Biggest buyers

ICAHN CARL C Added +43,995,449+44.0m
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +383,969+384.0k
CITADEL ADVISORS LLC New +280,406+280.4k
MORGAN STANLEY Added +217,031+217.0k
INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC New +171,638+171.6k
JANE STREET GROUP, LLC New +169,029+169.0k
FIRST TRUST ADVISORS LP Added +160,183+160.2k
GROUP ONE TRADING LLC Added +89,334+89.3k
SIMPLEX TRADING, LLC New +61,824+61.8k
BANK OF AMERICA CORP /DE/ Added +32,007+32.0k

Biggest sellers

COMMONWEALTH EQUITY SERVICES, LLC Reduced -53,462-53.5k
BNP PARIBAS FINANCIAL MARKETS Sold out -51,150-51.1k
GEODE CAPITAL MANAGEMENT, LLC Reduced -45,055-45.1k
Western Wealth Management, LLC Sold out -42,957-43.0k
Janney Montgomery Scott LLC Reduced -41,645-41.6k
Virtu Financial LLC Reduced -34,545-34.5k
GSA CAPITAL PARTNERS LLP Reduced -28,314-28.3k
LITTLEJOHN FINANCIAL SERVICES, INC. Sold out -24,000-24.0k
RAYMOND JAMES FINANCIAL INC Reduced -19,111-19.1k
M&T Bank Corp Sold out -17,776-17.8k

Biggest calls

GROUP ONE TRADING LLC Reduced $5.5m685.4k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $5.0m617.5k shares
CITADEL ADVISORS LLC Added $1.0m129.5k shares
SIMPLEX TRADING, LLC Reduced $940.0k116.9k shares
JANE STREET GROUP, LLC Reduced $524.5k65.2k shares
WOLVERINE TRADING, LLC Added $427.5k52.2k shares
Ancora Advisors LLC Unchanged $1.8k101 shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $16.3m2.0m shares
GROUP ONE TRADING LLC Added $4.4m553.0k shares
JANE STREET GROUP, LLC Added $1.9m231.3k shares
CITADEL ADVISORS LLC Reduced $1.2m147.1k shares
SIMPLEX TRADING, LLC Reduced $656.0k81.6k shares
WOLVERINE TRADING, LLC Added $531.5k64.9k shares
IMC-Chicago, LLC New $246.2k30.6k shares
Squarepoint Ops LLC Unchanged $181.0k22.5k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
ICAHN CARL C 13D · may seek influence +0.4 pts · filed 2026-09-25 87.7% +0.4 pts 658.9m 2026-09-25

Insider purchases and sales in Q2 2025

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

None reported in Q2 2025.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 ICAHN CARL C 50.47% of their portfolio SUNNY ISLES BEACH, FL 494,783,619494.8m $4.0bn $4.0bn 50.47% Added +44.0m +43,995,449
2 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,004,1491.0m $8.1m $8.1m 0.00% Added +217.0k +217,031
3 FIRST TRUST ADVISORS LP 0.01% of their portfolio Wheaton, IL 884,514884.5k $7.1m $7.1m 0.01% Added +160.2k +160,183
4 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 464,815464.8k $3.7m $3.7m 0.01% Added +384.0k +383,969
5 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 421,680421.7k $3.4m $3.4m 0.00% Reduced -45.1k -45,055
6 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 280,406280.4k $2.3m $2.3m 0.00% New
7 Limestone Investment Advisors LP 0.11% of their portfolio NEW YORK, NY 250,000250.0k $247.7k $247.7k 0.11% First filing
8 GROUP ONE TRADING LLC 0.05% of their portfolio CHICAGO, IL 207,465207.5k $1.7m $1.7m 0.05% Added +89.3k +89,334
9 INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC 0.13% of their portfolio ORLANDO, FL 171,638171.6k $1.6m $1.6m 0.13% New
10 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 169,029169.0k $1.4m $1.4m 0.00% New
11 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 139,498139.5k $1.1m $1.1m 0.00% Reduced -10.2k -10,199
12 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 131,234131.2k $1.1m $1.1m 0.00% Reduced -8.0k -7,963
13 UBS Group AG 0.00% of their portfolio ZURICH, V8 108,723108.7k $874.7k $874.7k 0.00% Reduced -4.7k -4,710
14 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 107,864107.9k $867.8k $867.8k 0.00% Reduced -19.1k -19,111
15 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 91,60491.6k $736.9k $736.9k 0.00% Added +25.1k +25,081
16 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 85,22385.2k $685.6k $685.6k 0.00% Added +32.0k +32,007
17 Fort Point Capital Partners LLC 0.06% of their portfolio San Francisco, CA 80,10080.1k $644.4k $644.4k 0.06% Unchanged
18 AXXCESS WEALTH MANAGEMENT, LLC 0.01% of their portfolio CARLSBAD, CA 66,96567.0k $538.7k $538.7k 0.01% Added +15.4k +15,428
19 SIMPLEX TRADING, LLC 0.01% of their portfolio CHICAGO, IL 61,82461.8k $497.0k $497.0k 0.01% New
20 Bramshill Investments, LLC 0.04% of their portfolio NAPLES, FL 51,98452.0k $418.2k $418.2k 0.04% Reduced -268 -268
21 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 50,05250.1k $402.0k $402.0k 0.00% Added +23.6k +23,554
22 Moors & Cabot, Inc. 0.02% of their portfolio BOSTON, MA 49,99150.0k $402.2k $402.2k 0.02% Added +512 +512
23 MGO ONE SEVEN LLC 0.01% of their portfolio Beachwood, OH 47,20047.2k $379.7k $379.7k 0.01% Added +2.1k +2,125
24 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 40,82540.8k $328.0k $328.0k 0.00% Added +6.7k +6,718
25 WOLVERINE TRADING, LLC 0.01% of their portfolio CHICAGO, IL 40,20540.2k $329.3k $329.3k 0.01% Added +13.4k +13,430
26 Counterpoint Mutual Funds LLC 0.03% of their portfolio San Diego, CA 36,57936.6k $294.3k $294.3k 0.03% Reduced -173 -173
27 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 35,22935.2k $283.4k $283.4k 0.00% Reduced -4.8k -4,849
28 Key Client Fiduciary Advisors, LLC 0.11% of their portfolio Fairfield, NJ 34,33334.3k $276.2k $276.2k 0.11% Added +2.0k +1,961
29 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 34,11834.1k $274.0k $274.0k 0.00% Reduced -53.5k -53,462
30 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 30,67830.7k $246.8k $246.8k 0.00% Added +2.4k +2,350
31 NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio MONTREAL, A8 30,00030.0k $241.2k $241.2k 0.00% Unchanged
32 United Advisor Group, LLC 0.04% of their portfolio CINCINNATI, OH 29,84929.8k $240.1k $240.1k 0.04% Added +1.5k +1,483
33 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 29,33629.3k $236.0k $236.0k 0.00% Reduced -179 -179
34 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 28,33428.3k $228.0k $228.0k 0.00% Added +2.1k +2,077
35 Stablepoint Partners, LLC 0.04% of their portfolio BRAINTREE, MA 27,36027.4k $220.1k $220.1k 0.04% Added +1.6k +1,612
36 Advisory Services Network, LLC 0.00% of their portfolio ATLANTA, GA 26,92426.9k $245.8k $245.8k 0.00% Reduced -3.0k -3,023
37 Jump Financial, LLC 0.00% of their portfolio Chicago, IL 26,82126.8k $215.8k $215.8k 0.00% New
38 GSA CAPITAL PARTNERS LLP 0.01% of their portfolio LONDON, X0 24,35724.4k $196.0k $196.0k 0.01% Reduced -28.3k -28,314
39 Meridian Wealth Management, LLC 0.01% of their portfolio LEXINGTON, KY 23,88823.9k $192.2k $192.2k 0.01% Added +2.7k +2,717
40 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 23,83723.8k $191.8k $191.8k 0.00% Reduced -13.8k -13,754
41 Corient Private Wealth LP 0.00% of their portfolio MIAMI, FL 23,28123.3k $187.3k $187.3k 0.00% Reduced -327 -327
42 Corps Capital Advisors, LLC 0.30% of their portfolio SOUTHLAKE, TX 22,85422.9k $183.9k $183.9k 0.30% Unchanged
43 Brookstone Capital Management 0.00% of their portfolio WHEATON, IL 20,46720.5k $164.7k $164.7k 0.00% Reduced -200 -200
44 Arista Wealth Management, LLC 0.02% of their portfolio Las Vegas, NV 20,00020.0k $160.9k $160.9k 0.02% New
45 PSI Advisors, LLC 0.08% of their portfolio TAMPA, FL 19,97320.0k $160.7k $160.7k 0.08% Reduced -1.9k -1,864
46 OPPENHEIMER & CO INC 0.00% of their portfolio NEW YORK, NY 19,73019.7k $158.7k $158.7k 0.00% Added +1.3k +1,278
47 Virtu Financial LLC 0.01% of their portfolio New York, NY 19,63119.6k $158.0k $158.0k 0.01% Reduced -34.5k -34,545
48 Paragon Capital Management Ltd 0.03% of their portfolio DENVER, CO 19,41019.4k $156.2k $156.2k 0.03% Added +2.2k +2,163
49 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 19,28519.3k $155.2k $155.2k 0.00% Added +983 +983
50 Triumph Capital Management 0.05% of their portfolio DENVER, CO 19,05419.1k $153.3k $153.3k 0.05% Reduced -4.3k -4,285
51 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 19,00319.0k $152.9k $152.9k 0.00% Added +15.3k +15,256
52 Mariner, LLC 0.00% of their portfolio Overland Park, KS 18,51718.5k $149.0k $149.0k 0.00% Added +3.6k +3,644
53 HighPoint Advisor Group LLC 0.01% of their portfolio DOWNERS GROVE, IL 18,46818.5k $148.6k $148.6k 0.01% Added +8 +8
54 Arrow Investment Advisors, LLC 0.14% of their portfolio LAUREL, MD 17,81517.8k $143.3k $143.3k 0.14% Added +2.7k +2,677
55 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 16,74016.7k $134.7k $134.7k 0.00% New
56 INSIGNEO ADVISORY SERVICES, LLC 0.01% of their portfolio MIAMI, FL 14,71414.7k $118.4k $118.4k 0.01% Reduced -25 -25
57 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 14,57314.6k $117.0k $117.0k 0.00% Added +1.1k +1,120
58 Integrated Wealth Concepts LLC 0.00% of their portfolio WALTHAM, MA 14,49914.5k $116.6k $116.6k 0.00% New
59 Merit Financial Group, LLC 0.00% of their portfolio ALPHARETTA, GA 11,64911.6k $93.7k $93.7k 0.00% Added +322 +322
60 EagleClaw Capital Managment, LLC 0.01% of their portfolio BOSTON, MA 11,56011.6k $93.0k $93.0k 0.01% New
61 Beacon Harbor Wealth Advisors, Inc. 0.02% of their portfolio VIRGINIA BEACH, VA 11,35011.3k $91.3k $91.3k 0.02% Unchanged
62 CAZ INVESTMENTS LP 0.51% of their portfolio HOUSTON, TX 11,25411.3k $90.5k $90.5k 0.51% Added +1.3k +1,254
63 KPP Advisory Services LLC 0.01% of their portfolio Louisville, KY 11,22811.2k $90.3k $90.3k 0.01% Added +878 +878
64 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 11,11411.1k $89.0k $89.0k 0.00% Reduced -41.6k -41,645
65 SUMMIT SECURITIES GROUP LLC 0.03% of their portfolio NEW YORK, NY 11,00011.0k $88.5k $88.5k 0.03% Added +700 +700
66 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 10,77810.8k $86.7k $86.7k 0.00% New
67 Claro Advisors Inc. 0.01% of their portfolio BOSTON, MA 10,53010.5k $84.7k $84.7k 0.01% New
68 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 10,07910.1k $86.3k $86.3k 0.00% Reduced -1.6k -1,562
69 Global Retirement Partners, LLC 0.00% of their portfolio San Rafael, CA 7,9718.0k $64.1k $64.1k 0.00% First filing
70 Spire Wealth Management 0.00% of their portfolio MCLEAN, VA 5,4975.5k $44.2k $44.2k 0.00% Reduced -3 -3
71 Anfield Capital Management, LLC 0.01% of their portfolio IRVINE, CA 5,3135.3k $42.7k $42.7k 0.01% Unchanged
72 Allworth Financial LP 0.00% of their portfolio FOLSOM, CA 5,2695.3k $42.4k $42.4k 0.00% Added +4.2k +4,233
73 MPWM ADVISORY SOLUTIONS, LLC 0.02% of their portfolio ALPHARETTA, GA 4,2804.3k $34.4k $34.4k 0.02% Added +30 +30
74 Aventura Private Wealth, LLC 0.01% of their portfolio AVENTURA, FL 2,6022.6k $20.9k $20.9k 0.01% Added +92 +92
75 LANARK FINANCIAL, INC. 0.00% of their portfolio BIRMINGHAM, AL 2,0002.0k $16.0k $16.0k 0.00% New
76 EverSource Wealth Advisors, LLC 0.00% of their portfolio BIRMINGHAM, AL 1,7531.8k $14.1k $14.1k 0.00% Unchanged
77 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 1,6461.6k $13.2k $13.2k 0.00% Added +45 +45
78 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 1,6411.6k $13.2k $13.2k 0.00% Added +774 +774
79 Wilmington Savings Fund Society, FSB 0.00% of their portfolio WILMINGTON, DE 1,3951.4k $11.2k $11.2k 0.00% Reduced -789 -789
80 Ameritas Advisory Services, LLC 0.00% of their portfolio Lincoln, NE 1,3401.3k $10.8k $10.8k 0.00% New
81 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 1,1251.1k $9.1k $9.1k 0.00% Added +125 +125
82 HARBOUR INVESTMENTS, INC. 0.00% of their portfolio MADISON, WI 1,0651.1k $8.6k $8.6k 0.00% Unchanged
83 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 1,0251.0k $8.4k $8.4k 0.00% Added +721 +721
84 FMR LLC 0.00% of their portfolio BOSTON, MA 824824 $6.6k $6.6k 0.00% New
85 Bangor Savings Bank 0.00% of their portfolio BANGOR, ME 600600 $4.8k $4.8k 0.00% Unchanged
86 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 476476 $3.8k $3.8k 0.00% Reduced -1.5k -1,547
87 Harbor Asset Planning, Inc. 0.00% of their portfolio BELMONT, MA 458458 $3.7k $3.7k 0.00% First filing
88 Cedar Wealth Management, LLC 0.00% of their portfolio LA JOLLA, CA 420420 $3.4k $3.4k 0.00% Unchanged
89 TRUST CO OF TOLEDO NA /OH/ 0.00% of their portfolio HOLLAND, OH 342342 $2.8k $2.8k 0.00% New
90 Bogart Wealth, LLC 0.00% of their portfolio MCLEAN, VA 268268 $2.2k $2.2k 0.00% Added +30 +30
91 Indiana Trust & Investment Management Co 0.00% of their portfolio MISHAWAKA, IN 257257 $2.1k $2.1k 0.00% Added +15 +15
92 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 244244 $2.0k $2.0k 0.00% Unchanged
93 Arax Advisory Partners 0.00% of their portfolio NEW YORK, NY 221221 $1.8k $1.8k 0.00% Unchanged
94 NBT BANK, N.A. 0.00% of their portfolio NORWICH, NY 200200 $1.6k $1.6k 0.00% Unchanged
95 NVWM, LLC 0.00% of their portfolio YARDLEY, PA 159159 $1.3k $1.3k 0.00% Added +37 +37
96 Transce3nd, LLC 0.00% of their portfolio BUDA, TX 150150 $1.2k $1.2k 0.00% Unchanged
97 LRI Investments, LLC 0.00% of their portfolio PALM BEACH GARDENS, FL 136136 $1.1k $1.1k 0.00% Added +14 +14
98 FIFTH THIRD BANCORP 0.00% of their portfolio CINCINNATI, OH 105105 $845 $845 0.00% Reduced -2.0k -1,987
99 CoreCap Advisors, LLC 0.00% of their portfolio SOUTHFIELD, MI 103103 $834 $834 0.00% Added +11 +11
100 Colonial Trust Advisors 0.00% of their portfolio SPARTANBURG, SC 100100 $805 $805 0.00% Unchanged