Dec 02, 2008. /Lesprom.com/. Investor Carl Icahn cut his stake in Temple-Inland Inc. after shares of the paper-and-building-products company fell 85% this year, The Statesman reported. Icahn owns 4.99% of Temple-Inland, down from 6.9%, regulatory filings show. The billionaire investor owned 5.3 million shares of the Austin-based company. Temple-Inland shares tumbled this year as demand slowed because of the slumping housing market. The company reported an unexpected 3Q loss last month, which it attributed to a weakening economy and hurricane damage.