Carl Icahn
Icahn Capital
One of the longest-running activist investors. Takes large stakes and pushes boards for changes; much of the 13F is Icahn Enterprises itself.
13F portfolio value
Q2 2026
$8.26B
1-year growth
+4.8%
2-year growth
-23.8%
Positions
12
Top 10 share
98.6%
Quarterly turnover
2.2%
Last filed
Aug 14, 2026
Q2 2026: summary
MakklerAI- Icahn Capital’s 13F portfolio was $8.3B across 12 positions, with 98.6% in its 10 largest holdings.
- Icahn added 12.6% to IEP; it rose from 48.5% to 54.0% of the portfolio, worth $4.5B.
- AEP shares fell 63.9% and JBLU shares 38.6%; both positions were reduced.
- Energy Minerals made up 78.5% of the portfolio; CVI’s weight fell from 28.0% to 23.7% quarter over quarter.
Portfolio value (13F)
$10.84BQ2 2024
$9.88BQ3 2024
$7.42BQ4 2024
$7.49BQ1 2025
$7.89BQ2 2025
$9.14BQ3 2025
$8.45BQ4 2025
$8.55BQ1 2026
$8.26BQ2 2026
| Quarter | Value | Positions | New | Added | Trimmed | Sold | Quarterly turnover |
|---|---|---|---|---|---|---|---|
| Q2 2026 | $8.26B | 12 | 0 | 2 | 2 | 0 | 2.2% |
| Q1 2026 | $8.55B | 12 | 0 | 2 | 1 | 1 | 0.3% |
| Q4 2025 | $8.45B | 13 | 0 | 4 | 2 | 0 | 1.7% |
| Q3 2025 | $9.14B | 13 | 2 | 4 | 1 | 1 | 4.2% |
| Q2 2025 | $7.89B | 12 | 0 | 4 | 0 | 2 | 2.8% |
| Q1 2025 | $7.49B | 14 | 0 | 4 | 1 | 0 | 1.7% |
| Q4 2024 | $7.42B | 14 | 0 | 2 | 3 | 0 | 2.2% |
| Q3 2024 | $9.88B | 14 | 0 | 2 | 0 | 0 | 0.0% |
| Q2 2024 | $10.84B | 14 | — | — | — | — | — |
Weight of the largest positions
The latest quarter's 10 largest positions, with their weights in earlier quarters.
| Stock | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 |
|---|---|---|---|---|---|---|---|---|---|
| IEP | 61.8% | 59.3% | 52.7% | 54.5% | 50.5% | 47.8% | 49.1% | 48.5% | 54.0% |
| CVI | 16.5% | 15.6% | 16.9% | 17.8% | 24.0% | 28.1% | 21.2% | 28.0% | 23.7% |
| UAN | 2.7% | 2.6% | 4.2% | 4.1% | 4.7% | 4.1% | 5.1% | 6.2% | 5.6% |
| CTRI | 0.5% | 0.6% | 0.6% | 0.5% | 1.8% | 2.5% | 4.3% | 4.9% | 5.2% |
| IFF | 3.3% | 4.0% | 4.3% | 3.9% | 3.5% | 3.2% | 3.4% | 3.6% | 4.1% |
| ECHO | — | — | — | — | — | 3.6% | 4.3% | 1.9% | 1.7% |
| JBLU | 1.0% | 1.2% | 1.9% | 2.2% | 1.8% | 1.8% | 1.8% | 1.7% | 1.4% |
| MNRO | — | — | — | — | — | 0.3% | 1.2% | 1.0% | 1.1% |
| CZR | 0.9% | 1.0% | 1.1% | 0.8% | 0.9% | 0.7% | 0.7% | 0.8% | 0.9% |
| SD | 0.6% | 0.6% | 0.8% | 0.7% | 0.7% | 0.6% | 0.8% | 0.9% | 0.8% |
| AEP | 1.0% | 1.3% | 1.5% | 1.8% | 1.6% | 1.5% | 1.6% | 1.8% | 0.7% |
| BLCO | 0.5% | 0.7% | 0.9% | 0.7% | 0.6% | 0.6% | 0.7% | 0.7% | 0.7% |
MakklerAI
Ask MakklerAI about Carl Icahn's portfolio
Explore this quarter's moves and where each position stands against its estimated buy price and Makkler Fair Value. Answers are based on the 13F and today's prices.