Icahn Carl C 13F Filing (Q2 2026) — Top Positions & Stock Picks
Icahn Carl CCIK: 0000921669
Concentrated strategyMomentum followerSector-focused
Total reported value
$8.3B
Reporting period: 2026-06-30 · Number of holdings: 18
ICAHN CARL C disclosed 18 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $8.3B and a quarterly turnover rate of 12.3%.
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Personality snowflake
- Concentration
- 100
- Portfolio Stability
- 12.26
- Momentum
- 100
- Sector conviction
- 88.28
- Diversification
- 24
- Sizing Uniformity
- 81.11
Icahn Carl C's disclosed holdings carry a Herfindahl concentration index of 0.356 — mathematically equivalent to about 3 equally-sized positions, well below its 18 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.89), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 24.7 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Sector classification currently covers about 9% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd IEP
+12.6% $310.6M
Trim CVI
0.0% -$435.0M
Trim AEP
-63.9% -$98.5M
Trim UAN
0.0% -$63.3M
Add IFF
0.0% $28.5M
Add CTRI
0.0% $14.8M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 12 holdings (of 18 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | IEP | Icahn Enterprises LP | Stock-Other | 53.95% | +5.46% | +12.56% | |
| 2 | CVI | Cvr Energy Inc | Stock-Other | 23.73% | -4.28% | — | |
| 3 | UAN | Cvr Partners LP | Stock-Other | 5.62% | -0.55% | — | |
| 4 | CTRI | Centuri Holdings Inc | Stock-Other | 5.25% | +0.35% | — | |
| 5 | IFF | Intl Flavors & Fragrances | Stock-Materials | 4.10% | +0.47% | — | |
| 6 | ECHO | Echostar Corp-a | Stock-Comm Services | 1.73% | -0.19% | — | |
| 7 | JBLU | Jetblue Airways CORP | Stock-Industrials | 1.43% | -0.31% | -38.56% | |
| 8 | MNRO | Monro Inc | Stock-Other | 1.05% | +0.10% | — | |
| 9 | CZR | Caesars Entertainment Inc | Stock-Consumer Disc | 0.89% | +0.14% | — | |
| 10 | SD | Sandridge Energy Inc | Stock-Other | 0.84% | -0.10% | +2.17% | |
| 11 | AEP | American Electric Power | Stock-Utilities | 0.72% | -1.13% | -63.93% | |
| 12 | BLCO | Bausch + Lomb CORP | Stock-Other | 0.70% | +0.05% | — |
Portfolio Performance
Performance for Q3 2026
+4.6%
Performance Last 4 Quarters
+17.6%
- Stdev
- +21.1%
- Beta
- +0.58
- Alpha
- -9.1%
- Max Drawdown
- -33.3%
- Annualized Perf
- +0.2%
- Batting Avg vs S&P
- +41.7%
- Sortino
- +0.15
- Stutzer
- +0.03
- Treynor
- +0.04
- Sterling
- +0.01
- Calmar
- +0.01
- Information Ratio
- -0.86
- Tracking Error
- +20.5%
- Stdev Down
- +15.6%
- Winning Months %
- +52.8%
- Losing Months %
- +47.2%
- Best 12 Months
- +41.7%
- Worst 12 Months
- -30.4%
- Efficiency Ratio
- 0
- Sharpe
- +0.11
- Stdev Sectors
- +13.7%
- Skewness
- -0.55
- Kurtosis
- -0.48
- Upside Potential
- +1.96
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 18 | $8.3B | 12 | ||
| 2026 Q1 | 18 | $8.6B | 18 | ||
| 2025 Q4 | 19 | $8.4B | 15 | ||
| 2025 Q3 | 20 | $9.1B | 31 | ||
| 2025 Q2 | 19 | $7.9B | 0 | ||
| 2025 Q1 | 21 | $7.5B | 100 | ||
| 2024 Q4 | 20 | $7.4B | 0 | ||
| 2024 Q3 | 19 | $9.9B | 0 | ||
| 2024 Q2 | 19 | $10.8B | 0 | ||
| 2024 Q1 | 20 | $11.9B | 0 | ||
| 2023 Q4 | 20 | $10.9B | 0 | ||
| 2023 Q3 | 18 | $12.1B | 0 | ||
| 2023 Q2 | 19 | $15.5B | 0 | ||
| 2023 Q1 | 21 | $22.0B | 0 | ||
| 2022 Q4 | 20 | $21.8B | 0 | ||
| 2022 Q3 | 21 | $21.2B | 0 | ||
| 2022 Q2 | 20 | $20.9B | 0 | ||
| 2022 Q1 | 20 | $21.9B | 0 | ||
| 2021 Q4 | 20 | $22.3B | 0 | ||
| 2021 Q3 | 21 | $22.5B | 0 | ||
| 2021 Q2 | 21 | $24.3B | 99 | ||
| 2021 Q1 | 23 | $23.8B | 24 | ||
| 2020 Q4 | 22 | $20.1B | 14 | ||
| 2020 Q3 | 20 | $17.4B | 26 | ||
| 2020 Q2 | 20 | $19.7B | 27 | ||
| 2020 Q1 | 23 | $18.0B | 39 | ||
| 2019 Q4 | 37 | $26.2B | 7 | ||
| 2019 Q3 | 37 | $25.7B | 25 | ||
| 2019 Q2 | 33 | $26.5B | 18 | ||
| 2019 Q1 | 33 | $24.1B | 27 | ||
| 2018 Q4 | 37 | $20.4B | 34 | ||
| 2018 Q3 | 41 | $25.2B | 10 | ||
| 2018 Q2 | 43 | $24.1B | 26 | ||
| 2018 Q1 | 33 | $20.1B | 32 | ||
| 2017 Q4 | 35 | $22.7B | 17 | ||
| 2017 Q3 | 33 | $21.3B | 11 | ||
| 2017 Q2 | 33 | $19.6B | 12 | ||
| 2017 Q1 | 33 | $19.9B | 22 | ||
| 2016 Q4 | 36 | $22.4B | 16 | ||
| 2016 Q3 | 38 | $19.8B | 16 | ||
| 2016 Q2 | 42 | $20.3B | 23 | ||
| 2016 Q1 | 42 | $21.5B | 43 | ||
| 2015 Q4 | 55 | $29.4B | 24 | ||
| 2015 Q3 | 52 | $27.9B | 79 | ||
| 2015 Q2 | 48 | $31.2B | 12 | ||
| 2015 Q1 | 47 | $32.1B | 11 | ||
| 2014 Q4 | 49 | $31.9B | 46 | ||
| 2014 Q3 | 47 | $33.6B | 35 | ||
| 2014 Q2 | 43 | $38.5B | 33 | ||
| 2014 Q1 | 43 | $32.9B | 20 | ||
| 2013 Q4 | 42 | $30.5B | 29 | ||
| 2013 Q3 | 42 | $24.6B | 43 | ||
| 2013 Q2 | 44 | $21.5B | 0 |
Holding changes this quarter
Icahn Carl C's most significant position changes for 2026-06-30: Add: Icahn Enterprises LP (IEP) — shares +12.56%; Trim: American Electric Power (AEP) — shares -63.93%; Trim: Jetblue Airways CORP (JBLU) — shares -38.56%; Add: Sandridge Energy Inc (SD) — shares +2.17%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | IEP | Icahn Enterprises LP | +5.5% | +12.56% | Add |
| 2 | IFF | Intl Flavors & Fragrances | +0.5% | — | Unchanged |
| 3 | CTRI | Centuri Holdings Inc | +0.4% | — | Unchanged |
| 4 | CZR | Caesars Entertainment Inc | +0.1% | — | Unchanged |
| 5 | MNRO | Monro Inc | +0.1% | — | Unchanged |
| 6 | BLCO | Bausch + Lomb CORP | +0.1% | — | Unchanged |
| 7 | SD | Sandridge Energy Inc | -0.1% | +2.17% | Add |
| 8 | ECHO | Echostar Corp-a | -0.2% | — | Unchanged |
| 9 | JBLU | Jetblue Airways CORP | -0.3% | -38.56% | Trim |
| 10 | UAN | Cvr Partners LP | -0.6% | — | Unchanged |
| 11 | AEP | American Electric Power | -1.1% | -63.93% | Trim |
| 12 | CVI | Cvr Energy Inc | -4.3% | — | Unchanged |
Filing History
FAQ
What is Icahn Carl C and what type of investor is it?
Icahn Carl C is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $8.3B, spread across 18 disclosed positions.
What are Icahn Carl C's largest equity positions?
Based on the latest 13F filing, Icahn Carl C's top holdings by market value are:
1. Icahn Enterprises LP (IEP) — $4.5B (54.0%)
2. Cvr Energy Inc (CVI) — $2.0B (23.7%)
3. Cvr Partners LP (UAN) — $464.2M (5.6%)
4. Centuri Holdings Inc (CTRI) — $433.5M (5.3%)
5. Intl Flavors & Fragrances (IFF) — $338.7M (4.1%)
What changes did Icahn Carl C make in its most recent portfolio filing?
In the latest reported quarter, Icahn Carl C made 4 notable position adjustments: 0 new positions were initiated, 2 existing holdings were added to, 2 positions were partially reduced, and 0 were completely exited. The largest of these moves: Add: Icahn Enterprises LP (IEP) — shares +12.56%; Trim: American Electric Power (AEP) — shares -63.93%; Trim: Jetblue Airways CORP (JBLU) — shares -38.56%; Add: Sandridge Energy Inc (SD) — shares +2.17%
What sectors does Icahn Carl C focus on?
Icahn Carl C is concentrated in the following sectors based on its current disclosed equity portfolio:
• Materials: 46.2%
• Communication Services: 19.5%
• Industrials: 16.2%
• Consumer Discretionary: 10.1%
• Utilities: 8.1%
Investment Profile
Icahn Carl C returned an annualized 0.2% over the trailing 36 months — underperforming the S&P 500 by 9.1 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.58 (less volatile than the market) and a 42% quarterly batting average against the index.
Its portfolio is concentrated and long-term-holding, with 46.2% of the portfolio concentrated in Materials.
It has added to its CTRI position over the past two quarters (+$71.5M, now $433.5M), while trimming ECHO over the same stretch (-$222.1M, still holding $142.6M).
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KW
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AW
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Developer Access
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