WILSONVILLE, OR -- Famed activist investor Carl Icahn continues to shed his stake in Mentor Graphics, selling another 1.7 million shares over the past two weeks. 

Icahn and his proxies now own 6.35 million shares in Mentor, or 5.4% of the company stock. That's down from a high of more than 16 million shares in 2011, which was about a 14% stake in the EDA software firm. He sold 8 million shares to the company in February for $146 million.

In March 2011, Icahn made a $1.9 billion bid for Mentor, which the company rejected.

BlackRock Fund Advisors is now Mentor's largest holder, at just under 8 million shares.