Icahn Enterprises (IEP +1.3%) sold ~14.7M Herbalife Nutrition (HLF -1.1%) shares under HLF's self-tender offer, Icahn said in a regulatory filing.
Icahn still holds ~20.5M shares, or about a 15.5% of HLF's shares outstanding.
"We continue to strongly believe in the great future of the company," IEP said in the filing.
IEP, which started amassing its holdings in HLF about eight years ago, takes credit for HLF's rising stock price since then, saying its representatives who joined HLF's board "worked closely with management to stabilize the company."
As a result, all HLF shareholders benefited, the firm led by Carl Icahn said. "An investment in Herbalife made on the first day we began purchasing shares would have earned a total return of approximately 200% through yesterday," the statement said.
Icahn and rival investor Bill Ackman, who shorted the stock, argued for years over Herbalife's potential. Ackman exited the position in 2018.
HLF stock's total return vs. S&P 500 and IEP over the past 10 years: