Icahn Capital

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Carl Icahn's Icahn Capital reported 14 stock positions worth $7.4 billion. Its top holding was Icahn Enterprises (IEP) at 52.7% of the portfolio, followed by CVR Energy (CVI, 16.9%) and Southwest Gas (SWX, 9.2%). Compared with Q3 2024, it added to 2 and reduced 3. The biggest buy was CVR Partners (UAN, shares +4%) and the biggest sale Illumina (ILMN, shares −91%).

Most Recent 13F
Q2 2026
Notable People
Carl Icahn
Location
SUNNY ISLES BEACH, FL
CIK
0000921669
Portfolio Value
$7.4B (Q4 2024)
SEC Filing
0001539497-25-000660 ↗ filed Feb 14, 2025

Holdings Value

0$5.0B$10.0B$15.0B Q1 2024: $11.2B Q1 2024 Q2 2024: $10.8B Q2 2024 Q3 2024: $9.9B Q3 2024 Q4 2024: $7.4B $7.4B Q4 2024 Q1 2025: $7.5B Q1 2025 Q2 2025: $7.9B Q2 2025 Q3 2025: $9.1B Q3 2025 Q4 2025: $8.4B Q4 2025 Q1 2026: $8.6B Q1 2026 Q2 2026: $8.3B Q2 2026

Holdings 14 stocks · $7.4B
IEP Icahn Enterprises LP 52.71% 450,788,170 $3.9B Add +4.1%
CVI CVR Energy Inc. 16.85% 66,692,381 $1.2B No change
SWX Southwest Gas Holdings Inc. 9.19% 9,632,604 $681.1M Reduce -12.6%
IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA 4.28% 3,750,000 $317.1M No change
UAN CVR Partners LP 4.17% 4,066,192 $308.9M Add +4.5%
BHC Bausch Health Cos Inc. 3.77% 34,721,118 $279.9M No change
DAN Dana Inc. 2.23% 14,286,505 $165.2M No change
JBLU Jetblue Airways Corp. 1.88% 17,727,029 $139.3M No change
AEP American Electric Power 1.50% 1,205,300 $111.2M No change
CZR Caesars Entertainment Inc. 1.10% 2,440,109 $81.5M No change
BLCO Bausch + Lomb Corp. 0.85% 3,500,000 $63.2M No change
SD Sandridge Energy Inc. 0.76% 4,818,832 $56.4M No change
CTRI Centuri Holdings Inc. 0.65% 2,486,495 $48.0M Reduce -30.8%
ILMN Illumina Inc. 0.07% 40,000 $5.3M Reduce -90.7%

Portfolio Sells Q3 2024 → Q4 2024
ILMN Illumina Inc. Reduce -90.7% 0.07% −0.50
CTRI Centuri Holdings Inc. Reduce -30.8% 0.65% +0.06
SWX Southwest Gas Holdings Inc. Reduce -12.6% 9.19% +0.95

Portfolio Buys Q3 2024 → Q4 2024
UAN CVR Partners LP Add +4.5% 4.17% +1.52
IEP Icahn Enterprises LP Add +4.1% 52.71% −6.59

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 12$8.3BIEP, CVI, UAN, CTRI, IFF
Q1 2026 12$8.6BIEP, CVI, UAN, CTRI, IFF
Q4 2025 13$8.4BIEP, CVI, SWX, UAN, ECHO
Q3 2025 13$9.1BIEP, CVI, SWX, UAN, ECHO
Q2 2025 12$7.9BIEP, CVI, SWX, UAN, IFF
Q1 2025 14$7.5BIEP, CVI, SWX, UAN, IFF
Q4 2024 14$7.4BIEP, CVI, SWX, IFF, UAN
Q3 2024 14$9.9BIEP, CVI, SWX, IFF, BHC
Q2 2024 14$10.8BIEP, CVI, SWX, IFF, UAN
Q1 2024 13$11.2BIEP, CVI, SWX, BHC, IFF