Icahn Enterprises LP (NASDAQ:IEP) Hedge Funds Are Snapping Up

At Insider Monkey, we pore over the filings of more than 700 top investment firms every quarter, a process we have now completed for the latest reporting period. The data we’ve gathered as a result gives us access to a wealth of collective knowledge based on these firms’ portfolio holdings as of September 30. In this article, we will use that wealth of knowledge to determine whether or not Icahn Enterprises LP (NASDAQ:IEP) makes for a good investment right now.

Is Icahn Enterprises LP (NASDAQ:IEP) an exceptional investment today? Hedge funds are in an optimistic mood. The number of bullish hedge fund bets inched up by 1 recently. Still, the increase in interest was not enough for the company to secure a spot on the list of 30 most popular stocks among hedge funds.

In today’s marketplace there are several metrics investors have at their disposal to value publicly traded companies. Some of the most under-the-radar metrics are hedge fund and insider trading activity. Our researchers have shown that, historically, those who follow the top picks of the elite money managers can beat the S&P 500 by a significant amount (see the details here).

While collecting data for our write-up, we tracked down the opinion of Horizon Kinetics LLC, a fund that is long on the stock. In its 4th Quarter Shareholder Letter, the fund said this:

“Icahn Enterprises(NYSE: IEP), which has a $9 billion market cap, is a primary investment vehicle of investor Carl Icahn, who owns approximately 90% of the depositary units. Through public and private investments, IEP is a highly diversified portfolio of businesses, which include the automotive sector, energy, hotels and gaming, railcar manufacturing and leasing, food packaging, metals, and real estate.

Mr. Icahn is an activist investor with a deep value opportunist’s bent. Recent transactions include

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