NEW YORK, January 1, 2026, 07:57 ET — Market closed
- Icahn Enterprises units last closed up 3.5% at $7.55, bucking a broader market dip.
- U.S. markets are closed Thursday for New Year’s Day and reopen Friday.
- Traders are watching the partnership’s payout outlook, liquidity-driven swings and the next macro catalysts.
Icahn Enterprises L.P. shares rose in the last U.S. session of 2025, while Wall Street is shut on Thursday for the New Year’s Day holiday. The partnership’s units last closed up 3.5% at $7.55. 1
That year-end pop matters because IEP often trades like an income vehicle, with price action shaped by flows as much as fundamentals. Thin liquidity — fewer buyers and sellers — can magnify moves, especially around holidays and quarter-ends.
IEP’s gain came as the S&P 500 fell 0.74% on Wednesday in holiday-thinned trading. “It’s perfectly fine in any bull market to have moments of cost,” said Giuseppe Sette, co-founder and president of Reflexivity, pointing to profit-taking when liquidity was low.
IEP traded between $7.24 and $7.67 on Wednesday, with about 2.48 million units changing hands, according to Yahoo Finance data. The stock opened at $7.27, and traders often treat the day’s low and high as near-term “support” and “resistance” levels on charts. 2
Icahn Enterprises is structured as a master limited partnership, a publicly traded partnership whose investors own “units” rather than common shares. In its last quarterly update, the company reported third-quarter net income attributable to IEP of $287 million and adjusted EBITDA — a profit measure that strips out interest, taxes, depreciation and some items management deems non-recurring — of $383 million.
The partnership also declared a $0.50 quarterly distribution per depositary unit in that report. Using that latest payout as an annual run-rate implies roughly $2 a year, or about a 26% yield at Wednesday’s close — a key reason the stock stays on the radar for yield-focused investors.
IEP’s holdings span an investment portfolio and operating businesses in areas including energy, automotive, food packaging, real estate, home fashion and pharma. That mix can leave the stock sensitive to both market swings and the outlook for individual portfolio companies.
With markets closed on Thursday, the next test comes when trading resumes on Friday. A pickup in normal volumes will help investors judge whether Wednesday’s move reflects fresh demand or simply year-end positioning.
Before the next session, traders will also be watching the U.S. data calendar for near-term risk sentiment, including construction spending due at 10 a.m. ET on Friday. Next week’s schedule includes the ISM manufacturing index on January 5 and the December U.S. employment report on January 9.
For Icahn Enterprises specifically, the next hard catalyst is its next earnings update, which the partnership has not announced. MarketBeat estimates the next report could fall around late February based on past reporting patterns.
Investors will also watch for any change in the distribution policy, since the payout can dominate total returns at current prices. Any shift in the cash-versus-unit mix of distributions can also affect the number of units outstanding, which matters for per-unit figures.
