Hedge Fund Tycoon Carl Icahn's Q3: The Activist Takes a Defensive Stance, Sells Off a Troubling Investment, and Increases Stake in EchoStar
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 17 2025
0mins
Should l Buy SATS?
Source: Benzinga
Icahn's Portfolio Reshuffle: Carl Icahn's latest 13F filing reveals a $9.14 billion portfolio, showcasing a significant reshuffle, including the complete liquidation of his stake in Bausch Health Companies, which had dropped 75%.
New Investments: Icahn made a notable investment in EchoStar Corp, acquiring 4.35 million shares, making it one of his top five positions, alongside increased stakes in Centuri Holdings and International Flavors & Fragrances.
Concentration in Holdings: Despite the changes, Icahn's portfolio remains highly concentrated, with 98.5% of capital in just 10 stocks, and nearly 48% tied to Icahn Enterprises, which he continues to invest in despite its significant decline.
Strategic Outlook: Icahn's moves indicate a shift in strategy, as he exits underperforming investments while doubling down on perceived value opportunities, reflecting his long-term conviction in his core holdings.
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Analyst Views on SATS
Wall Street analysts forecast SATS stock price to rise
5 Analyst Rating
3 Buy
2 Hold
0 Sell
Moderate Buy
Current: 106.240
Low
110.00
Averages
127.00
High
158.00
Current: 106.240
Low
110.00
Averages
127.00
High
158.00
About SATS
EchoStar Corporation is a holding company. The Company is a provider of technology, networking services, television entertainment and connectivity, offering consumer, enterprise, operator and government solutions worldwide under its EchoStar, Boost Mobile, Sling TV, DISH TV, Hughes, HughesNet, HughesON, and JUPITER brands. Its business segments include Pay-TV, Wireless and Broadband and Satellite Services. Its Pay-TV segment provides video services in the United States through its DISH and the SLING brands. Its Wireless segment provides wireless communication services and products. This segment offers wireless services for 5G VoNR and 5G broadband service to Americans, as well as a competitive portfolio of wireless devices. It offers nationwide wireless services to subscribers primarily under the Boost Mobile and Gen Mobile brands. Its Broadband and Satellite Services segment offers broadband satellite technologies and broadband Internet products and services to consumer customers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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