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Icahn Carl Portfolio holdings

AUM $8.55B
1-Year Est. Return 29.29%
This Fund
S&P 500
This Quarter Est. Return
+18.9%
1 Year Est. Return
+29.29%
3 Year Est. Return
-52.41%
5 Year Est. Return
-44.99%
10 Year Est. Return
-2.67%
AUM
$9.14B
AUM Growth
+$1.26B
Cap. Flow
+$248M
Cap. Flow %
2.71%
Top 10 Hldgs %
98.53%
Holding
14
New
2
Increased
4
Reduced
1
Closed
1

Top Buys

Rank Stock Value
1
IEP icon
Icahn Enterprises
IEP
+$211M
2
ECHO
EchoStar
ECHO
+$197M
3
CTRI icon
Centuri Holdings
CTRI
+$94.3M
4
IFF icon
International Flavors & Fragrances
IFF
+$68.7M
5
MNRO icon
Monro
MNRO
+$24M

Top Sells

Rank Stock Value
1
BHC icon
Bausch Health
BHC
+$231M
2
SWX icon
Southwest Gas
SWX
+$117M

Sector Composition

Rank Sector Weight
1 Energy 76.5%
2 Utilities 9.17%
3 Materials 7.3%
4 Communication Services 3.64%
5 Industrials 1.81%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IEP icon
1
Icahn Enterprises
IEP
$5.03B
$4.37B 47.8%
518,932,944
+24,149,325
+5% +$211M
CVI icon
2
CVR Energy
CVI
$3.53B
$2.57B 28.1%
70,418,471
– –
SWX icon
3
Southwest Gas
SWX
$6.66B
$473M 5.17%
6,032,604
-1,500,000
-20% -$117M
UAN icon
4
CVR Partners
UAN
$1.26B
$375M 4.11%
4,164,274
– –
ECHO
5
EchoStar
ECHO
$26.7B
$333M 3.64%
+4,354,542
New +$197M
IFF icon
6
International Flavors & Fragrances
IFF
$20B
$292M 3.2%
4,750,000
+1,000,000
+27% +$68.7M
CTRI icon
7
Centuri Holdings
CTRI
$2.8B
$230M 2.51%
10,847,672
+4,443,795
+69% +$94.3M
JBLU icon
8
JetBlue
JBLU
$2.02B
$165M 1.81%
33,621,735
– –
AEP icon
9
American Electric Power
AEP
$71.9B
$136M 1.48%
1,205,300
– –
CZR icon
10
Caesars Entertainment
CZR
$6.08B
$65.9M 0.72%
2,440,109
– –
SD icon
11
SandRidge Energy
SD
$503M
$54.9M 0.6%
4,870,233
+51,401
+1% +$567K
BLCO icon
12
Bausch + Lomb
BLCO
$5.8B
$52.7M 0.58%
3,500,000
– –
MNRO icon
13
Monro
MNRO
$530M
$26.3M 0.29%
+1,465,000
New +$24M
BHC icon
14
Bausch Health
BHC
$1.8B
– –
-34,721,118
Closed -$231M

Similar funds

NB
Norinchukin Bank Tokyo, Japan $8.57B AUM 20.17% 1-Year Est. Return
ACM
Advisors Capital Management Ridgewood, New Jersey $8.58B AUM 23.43% 1-Year Est. Return
PCM
Penserra Capital Management Orinda, California $8.52B AUM 37.76% 1-Year Est. Return
AV
ASR Vermogensbeheer Utrecht, Netherlands $8.5B AUM 25.14% 1-Year Est. Return
GRQ
Gardner Russo & Quinn Lancaster, Pennsylvania $8.5B AUM 9.79% 1-Year Est. Return
DM
Deerfield Management New York $8.48B AUM 99.04% 1-Year Est. Return
PCIA
Prime Capital Investment Advisors Overland Park, Kansas $8.65B AUM 19.52% 1-Year Est. Return
FT
Fiduciary Trust Boston, Massachusetts $8.46B AUM 21.38% 1-Year Est. Return

Icahn Carl's Q3 2025 Portfolio in Review

As of Q3 2025, Icahn Carl held 14 positions worth $9.14B, up 16% from $7.89B the previous quarter. Its ten largest holdings account for 99% of the portfolio.

Icahn Carl's Q3 2025 filing shows 2 new, 4 increased, 1 reduced and 1 closed positions. Its largest new stake was EchoStar: 4,354,542 shares worth $333M. The largest sale was Bausch Health, an estimated $231M.

By sector, the portfolio is most concentrated in Energy at 76% of assets, up from 75% a quarter earlier, followed by Utilities and Materials.

  • Icahn Carl's largest Q3 2025 buy was EchoStar: 4,354,542 shares worth $333M.
  • Icahn Carl added most to Icahn Enterprises in Q3 2025, an estimated $211M increase.
  • Icahn Carl's biggest Q3 2025 reduction was Southwest Gas, cutting an estimated $117M.
  • Icahn Carl fully exited Bausch Health in Q3 2025, selling an estimated $231M.
  • Icahn Carl's ten largest holdings make up 99% of its $9.14B portfolio in Q3 2025.
  • Icahn Carl opened 2 new positions and closed 1 in Q3 2025.
  • Icahn Carl's portfolio value rose 16% quarter-over-quarter to $9.14B.

Based on Icahn Carl's 13F filing for Q3 2025, filed 14 Nov 2025.