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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
-7.42%
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
$8.45B
AUM Growth
-$696M
Cap. Flow
+$278M
Cap. Flow %
3.3%
Top 10 Hldgs %
97.78%
Holding
13
New
–
Increased
4
Reduced
2
Closed
–

Top Buys

Rank Stock Value
1
IEP icon
Icahn Enterprises
IEP
+$246M
2
CTRI icon
Centuri Holdings
CTRI
+$78M
3
MNRO icon
Monro
MNRO
+$66.5M
4
SD icon
SandRidge Energy
SD
+$547K

Top Sells

Rank Stock Value
1
ECHO
EchoStar
ECHO
+$81.4M
2
IFF icon
International Flavors & Fragrances
IFF
+$30.8M

Sector Composition

Rank Sector Weight
1 Energy 71.17%
2 Utilities 11.65%
3 Materials 8.47%
4 Communication Services 4.32%
5 Consumer Discretionary 1.88%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IEP icon
1
Icahn Enterprises
IEP
$5.03B
$4.15B 49.12%
549,400,539
+30,467,595
+6% +$246M
CVI icon
2
CVR Energy
CVI
$3.53B
$1.79B 21.21%
70,418,471
– –
SWX icon
3
Southwest Gas
SWX
$6.66B
$483M 5.72%
6,032,604
– –
UAN icon
4
CVR Partners
UAN
$1.26B
$427M 5.05%
4,164,274
– –
ECHO
5
EchoStar
ECHO
$26.7B
$365M 4.32%
3,354,542
-1,000,000
-23% -$81.4M
CTRI icon
6
Centuri Holdings
CTRI
$2.8B
$362M 4.29%
14,336,044
+3,488,372
+32% +$78M
IFF icon
7
International Flavors & Fragrances
IFF
$20B
$288M 3.41%
4,275,000
-475,000
-10% -$30.8M
JBLU icon
8
JetBlue
JBLU
$2.02B
$153M 1.81%
33,621,735
– –
AEP icon
9
American Electric Power
AEP
$71.9B
$139M 1.65%
1,205,300
– –
MNRO icon
10
Monro
MNRO
$530M
$102M 1.21%
5,078,573
+3,613,573
+247% +$66.5M
SD icon
11
SandRidge Energy
SD
$503M
$70.9M 0.84%
4,911,564
+41,331
+0.8% +$547K
BLCO icon
12
Bausch + Lomb
BLCO
$5.8B
$59.8M 0.71%
3,500,000
– –
CZR icon
13
Caesars Entertainment
CZR
$6.08B
$57.1M 0.68%
2,440,109
– –

Similar funds

NB
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ACM
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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 Q4 2025 Portfolio in Review

As of Q4 2025, Icahn Carl held 13 positions worth $8.45B, down 7.6% from $9.14B the previous quarter. Its ten largest holdings account for 98% of the portfolio.

Icahn Carl deployed $278M of net new capital in Q4 2025, adding to 4 existing holdings.

By sector, the portfolio is most concentrated in Energy at 71% of assets, down from 76% a quarter earlier, followed by Utilities and Materials.

On the sell side, the largest reduction was EchoStar, an estimated $81.4M trimmed.

  • Icahn Carl added most to Icahn Enterprises in Q4 2025, an estimated $246M increase.
  • Icahn Carl's biggest Q4 2025 reduction was EchoStar, cutting an estimated $81.4M.
  • Icahn Carl's ten largest holdings make up 98% of its $8.45B portfolio in Q4 2025.
  • Icahn Carl opened 0 new positions and closed 0 in Q4 2025.
  • Icahn Carl's portfolio value fell 7.6% quarter-over-quarter to $8.45B.

Based on Icahn Carl's 13F filing for Q4 2025, filed 17 Feb 2026.