Can a brokerage firm also operate as a holding company and/or investment fund?
I understand that Carl Icahn started a brokerage firm (Icahn & Co) in 1968, but how did he make large stakes in companies? He started activist investing in the late 70’s and by February 1987 he formed Icahn enterprises, his current holding company. It seems as though he operated his brokerage company as an investment fund and then transformed it into a holding company. Would this be possible to do nowadays?
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