Ed Lin

Activist investor Carl Icahn kept adding to his hefty stake in a fertilizer company in the last month of 2024.

Icahn paid $2.4 million from Dec. 13 through Dec. 30 for a total of 32,348 CVR Partners common units, an average price of $74.53. CVR Partners, a maker of ammonia and urea ammonium nitrate, publicly lists common units, rather than stock, as the company is organized as a limited partnership rather than a corporation. Ammonia and urea ammonium nitrate are typically used to improve the yield and quality of crops.

The transactions were made through Icahn Enterprises unit American Entertainment Properties, or AEP, which now directly owns 174,192 CVR Partners units, according to a form Icahn filed with the Securities and Exchange Commission. CVR Energy, in which Icahn and his affiliates own a 66% stake, owns 3.9 million CVR Partners units.

Through AEP's direct ownership of CVR Partner units, and majority stake in CVR Energy, Icahn owns more than 4 million CVR Partner units, a stake of more than 38%.

Icahn and his affiliates owned a stake of about 86% in Icahn Enterprises as of Sept. 30.

Icahn Enterprises didn't respond to a request to make Icahn available for comment on the purchase of more CVR Partners units.

AEP began directly buying CVR Partners units on Nov. 6, the day after the U.S. presidential election, and continued buying through the month.

Inside Scoop is a regular Barron's feature covering stock transactions by corporate executives and board members -- so-called insiders -- as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.

Write to Ed Lin at edward.lin@barrons.com and follow @BarronsEdLin.

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January 05, 2025 03:00 ET (08:00 GMT)

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