Investor Summary

Carl C. Icahn serves as Chairman of Icahn Enterprises L.P. and founder of Icahn Capital, maintaining an 86% ownership stake in the master limited partnership. Since 2007, he has focused on overseeing private investment funds through Icahn Capital LP, managing third-party capital alongside his own substantial investments. Icahn holds a bachelor's degree in philosophy from Princeton and founded his own brokerage firm, Icahn and Company, in 1968. He is recognized globally as one of the most prominent activist investors, known for acquiring significant stakes in undervalued companies and advocating for strategic changes. His investment career spans over five decades, during which he has built a reputation for identifying distressed assets and implementing corporate restructuring initiatives. Leadership transition planning is underway with Brett Icahn positioned to succeed Carl Icahn as chairman, ensuring continuity of the investment approach and corporate governance.

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Fund Strategy

Carl Icahn's investment philosophy centers on contrarian principles, focusing on companies when consensus thinking deems them unfavorable. The strategy targets undervalued companies with low price-to-earnings ratios and book values exceeding market valuations. Icahn employs activist shareholder tactics to drive corporate changes such as board replacements or asset divestitures to increase shareholder value. This approach often results in the 'Icahn lift' phenomenon where stock prices rise significantly following his investment. The philosophy emphasizes buying assets when they are out of favor and entire industries are distressed. Icahn's approach combines traditional value investing with aggressive corporate activism to unlock shareholder value through strategic interventions and operational improvements.

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FUND PERFORMANCE AS OF 31st December 2025

ANNUALIZED SINCE INCEPTION QUARTERLY YTD
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