Fund · 13F holdings
Icahn Capital
Carl Icahn · Sunny Isles Beach, FL · Founded 1968
These are the equity positions of Carl Icahn, the veteran activist investor, filed under his own name. Since the 1980s Icahn has run concentrated, confrontational campaigns to force change at companies, from RJR Nabisco and TWA to more recent targets, using board fights and public pressure to unlock value.
Most of Icahn's capital is held through the publicly-traded Icahn Enterprises (IEP), so his 13F is dominated by IEP itself and a handful of controlled or activist positions such as CVR Energy — a very different, idiosyncratic book from the diversified managers here.
How to read these tables. A Form 13F reports each holding's market value as of the quarter-end date and the share count — not the price the fund paid, when it bought, or any short positions. Buys and sells are inferred by comparing share counts across quarters. Put/call lines are options (often hedges), and their value is notional rather than a straight equity stake. Figures are the fund's US-listed 13(f) holdings only; private positions appear when the manager reports them.
History
1968
Icahn & Co. founded
Carl Icahn starts his brokerage, the base for a career in activist investing.
1985
TWA takeover
A hostile takeover of TWA cements Icahn's reputation as a corporate raider turned activist.
1987
Icahn Enterprises
Icahn builds his publicly-traded holding company, now the main vehicle for his investments.
Q2 2026 holdings
Period end
2026-06-30
Filed
2026-08-14
Portfolio value
$8.26B
Positions
18
We track
0
| # | Company | Class | Value | Shares | % Port. | vs prior |
|---|---|---|---|---|---|---|
| 1 | Icahn Enterprises Lp | DEPOSITARY UNIT | $2.23B | 309.9M | 27.0% | ADD |
| 2 | Cvr Energy Inc | COM | $1.86B | 67.6M | 22.5% | ADD |
| 3 | Icahn Enterprises Lp | DEPOSITARY UNIT | $952.6M | 132.1M | 11.5% | ADD |
| 4 | Icahn Enterprises Lp | DEPOSITARY UNIT | $612.9M | 85.0M | 7.4% | ADD |
| 5 | Icahn Enterprises Lp | DEPOSITARY UNIT | $492.5M | 68.3M | 6.0% | ADD |
| 6 | Cvr Partners, Lp | COM | $433.9M | 3.9M | 5.3% | ADD |
| 7 | Centuri Holdings, INC. | COM SHS | $433.5M | 14.3M | 5.2% | HOLD |
| 8 | International Flavors And Fragrances INC. | COM | $338.7M | 4.3M | 4.1% | HOLD |
| 9 | Icahn Enterprises Lp | DEPOSITARY UNIT | $166.4M | 23.1M | 2.0% | ADD |
| 10 | Echostar Corporation | CL A | $142.6M | 1.4M | 1.7% | HOLD |
| 11 | Jetblue Airways CORP. | COM | $118.4M | 20.7M | 1.4% | TRIM |
| 12 | Cvr Energy Inc | COM | $100.0M | 3.6M | 1.2% | HOLD |
| 13 | Monro, INC. | COM | $86.9M | 5.1M | 1.1% | HOLD |
| 14 | Caesars Entertainment, INC. | COM | $73.6M | 2.4M | 0.9% | HOLD |
| 15 | Sandridge Energy, INC. | COM NEW | $69.3M | 5.1M | 0.8% | ADD |
| 16 | American Electric Power Company | COM | $59.5M | 435K | 0.7% | TRIM |
| 17 | Bausch Plus Lomb CORP. | COMMON SHARES | $58.0M | 3.5M | 0.7% | HOLD |
| 18 | Cvr Partners, Lp | COM | $30.4M | 272K | 0.4% | HOLD |
Earlier filings
Q1 2026 · 18 positions · $8.55B · filed 2026-05-15
| # | Company | Class | Value | Shares | % Port. | vs prior |
|---|---|---|---|---|---|---|
| 1 | Cvr Energy Inc | COM | $2.27B | 67.6M | 26.6% | ADD |
| 2 | Icahn Enterprises Lp | DEPOSITARY UNIT | $2.08B | 275.3M | 24.3% | ADD |
| 3 | Icahn Enterprises Lp | DEPOSITARY UNIT | $886.2M | 117.4M | 10.4% | ADD |
| 4 | Icahn Enterprises Lp | DEPOSITARY UNIT | $570.2M | 75.5M | 6.7% | ADD |
| 5 | Cvr Partners, Lp | COM | $493.0M | 3.9M | 5.8% | ADD |
| 6 | Icahn Enterprises Lp | DEPOSITARY UNIT | $458.2M | 60.7M | 5.4% | ADD |
| 7 | Centuri Holdings, INC. | COM SHS | $418.8M | 14.3M | 4.9% | HOLD |
| 8 | International Flavors And Fragrances INC. | COM | $310.2M | 4.3M | 3.6% | HOLD |
| 9 | Echostar Corporation | CL A | $164.4M | 1.4M | 1.9% | TRIM |
| 10 | American Electric Power Company | COM | $158.0M | 1.2M | 1.8% | HOLD |
| 11 | Icahn Enterprises Lp | DEPOSITARY UNIT | $154.8M | 20.5M | 1.8% | HOLD |
| 12 | Jetblue Airways CORP. | COM | $148.6M | 33.6M | 1.7% | HOLD |
| 13 | Cvr Energy Inc | COM | $122.2M | 3.6M | 1.4% | ADD |
| 14 | Monro, INC. | COM | $81.5M | 5.1M | 1.0% | HOLD |
| 15 | Sandridge Energy, INC. | COM NEW | $80.7M | 4.9M | 0.9% | ADD |
| 16 | Caesars Entertainment, INC. | COM | $64.5M | 2.4M | 0.8% | HOLD |
| 17 | Bausch Plus Lomb CORP. | COMMON SHARES | $55.6M | 3.5M | 0.7% | HOLD |
| 18 | Cvr Partners, Lp | COM | $34.5M | 272K | 0.4% | HOLD |
Q4 2025 · 19 positions · $8.45B · filed 2026-02-17
| # | Company | Class | Value | Shares | % Port. | vs prior |
|---|---|---|---|---|---|---|
| 1 | Icahn Enterprises Lp | DEPOSITARY UNIT | $2.08B | 275.3M | 24.6% | ADD |
| 2 | Cvr Energy Inc | COM | $1.72B | 67.6M | 20.4% | ADD |
| 3 | Icahn Enterprises Lp | DEPOSITARY UNIT | $886.2M | 117.4M | 10.5% | ADD |
| 4 | Icahn Enterprises Lp | DEPOSITARY UNIT | $570.2M | 75.5M | 6.8% | ADD |
| 5 | Southwest Gas Holdings INC. | COM | $482.7M | 6.0M | 5.7% | HOLD |
| 6 | Icahn Enterprises Lp | DEPOSITARY UNIT | $458.2M | 60.7M | 5.4% | ADD |
| 7 | Cvr Partners, Lp | COM | $398.9M | 3.9M | 4.7% | ADD |
| 8 | Echostar Corporation | CL A | $364.6M | 3.4M | 4.3% | TRIM |
| 9 | Centuri Holdings, INC. | COM SHS | $362.0M | 14.3M | 4.3% | ADD |
| 10 | International Flavors And Fragrances INC. | COM | $288.1M | 4.3M | 3.4% | TRIM |
| 11 | Icahn Enterprises Lp | DEPOSITARY UNIT | $154.8M | 20.5M | 1.8% | ADD |
| 12 | Jetblue Airways CORP. | COM | $153.0M | 33.6M | 1.8% | HOLD |
| 13 | American Electric Power Company | COM | $139.0M | 1.2M | 1.6% | HOLD |
| 14 | Monro, INC. | COM | $101.8M | 5.1M | 1.2% | ADD |
| 15 | Cvr Energy Inc | COM | $72.5M | 2.8M | 0.9% | HOLD |
| 16 | Sandridge Energy, INC. | COM NEW | $70.9M | 4.9M | 0.8% | ADD |
| 17 | Bausch Plus Lomb CORP. | COMMON SHARES | $59.8M | 3.5M | 0.7% | HOLD |
| 18 | Caesars Entertainment, INC. | COM | $57.1M | 2.4M | 0.7% | HOLD |
| 19 | Cvr Partners, Lp | COM | $27.9M | 272K | 0.3% | HOLD |
Q3 2025 · 20 positions · $9.14B · filed 2025-11-14
| # | Company | Class | Value | Shares | % Port. | vs prior |
|---|---|---|---|---|---|---|
| 1 | Icahn Enterprises Lp | DEPOSITARY UNIT | $2.19B | 260.0M | 24.0% | |
| 2 | Cvr Energy Inc | COM | $1.90B | 52.1M | 20.8% | |
| 3 | Icahn Enterprises Lp | DEPOSITARY UNIT | $933.6M | 110.9M | 10.2% | |
| 4 | Icahn Enterprises Lp | DEPOSITARY UNIT | $600.6M | 71.3M | 6.6% | |
| 5 | Cvr Energy Inc | COM | $565.4M | 15.5M | 6.2% | |
| 6 | Icahn Enterprises Lp | DEPOSITARY UNIT | $482.6M | 57.3M | 5.3% | |
| 7 | Southwest Gas Holdings INC. | COM | $472.6M | 6.0M | 5.2% | |
| 8 | Cvr Partners, Lp | COM | $350.7M | 3.9M | 3.8% | |
| 9 | Echostar Corporation | CL A | $332.5M | 4.4M | 3.6% | |
| 10 | International Flavors And Fragrances INC. | COM | $292.3M | 4.8M | 3.2% | |
| 11 | Centuri Holdings, INC. | COM SHS | $229.6M | 10.8M | 2.5% | |
| 12 | Jetblue Airways CORP. | COM | $165.4M | 33.6M | 1.8% | |
| 13 | Icahn Enterprises Lp | DEPOSITARY UNIT | $163.1M | 19.4M | 1.8% | |
| 14 | American Electric Power Company | COM | $135.6M | 1.2M | 1.5% | |
| 15 | Cvr Energy Inc | COM | $103.9M | 2.8M | 1.1% | |
| 16 | Caesars Entertainment, INC. | COM | $65.9M | 2.4M | 0.7% | |
| 17 | Sandridge Energy, INC. | COM NEW | $54.9M | 4.9M | 0.6% | |
| 18 | Bausch Plus Lomb CORP. | COMMON SHARES | $52.7M | 3.5M | 0.6% | |
| 19 | Monro, INC. | COM | $26.3M | 1.5M | 0.3% | |
| 20 | Cvr Partners, Lp | COM | $24.5M | 272K | 0.3% |