Icahn Capital
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Carl Icahn's Icahn Capital reported 12 stock positions worth $7.9 billion. Its top holding was Icahn Enterprises (IEP) at 50.5% of the portfolio, followed by CVR Energy (CVI, 24.0%) and Southwest Gas (SWX, 7.1%). Compared with Q1 2025, it sold out of 2 and added to 4. The biggest buy was CVR Energy (CVI, shares +3%) and the biggest sale an exit from Dana (DAN).
- Most Recent 13F
- Q2 2026
- Notable People
- Carl Icahn
- Location
- SUNNY ISLES BEACH, FL
- CIK
- 0000921669
- Portfolio Value
- $7.9B (Q2 2025)
- SEC Filing
- 0001539497-25-002145 ↗ filed Aug 14, 2025
Holdings Value
Holdings 12 stocks · $7.9B
| IEP Icahn Enterprises LP | 50.47% | 494,783,619 | $4.0B | Add +9.8% |
| CVI CVR Energy Inc. | 23.97% | 70,418,471 | $1.9B | Add +2.8% |
| SWX Southwest Gas Holdings Inc. | 7.11% | 7,532,604 | $560.4M | No change |
| UAN CVR Partners LP | 4.69% | 4,164,274 | $370.0M | Add +1.6% |
| IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA | 3.50% | 3,750,000 | $275.8M | No change |
| BHC Bausch Health Cos Inc. | 2.93% | 34,721,118 | $231.2M | No change |
| CTRI Centuri Holdings Inc. | 1.82% | 6,403,877 | $143.7M | Add +157.6% |
| JBLU Jetblue Airways Corp. | 1.80% | 33,621,735 | $142.2M | No change |
| AEP American Electric Power | 1.59% | 1,205,300 | $125.1M | No change |
| CZR Caesars Entertainment Inc. | 0.88% | 2,440,109 | $69.3M | No change |
| SD Sandridge Energy Inc. | 0.66% | 4,818,832 | $52.1M | No change |
| BLCO Bausch + Lomb Corp. | 0.58% | 3,500,000 | $45.5M | No change |
Portfolio Sells Q1 2025 → Q2 2025
Portfolio Buys Q1 2025 → Q2 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 12 | $8.3B | IEP, CVI, UAN, CTRI, IFF |
| Q1 2026 | 12 | $8.6B | IEP, CVI, UAN, CTRI, IFF |
| Q4 2025 | 13 | $8.4B | IEP, CVI, SWX, UAN, ECHO |
| Q3 2025 | 13 | $9.1B | IEP, CVI, SWX, UAN, ECHO |
| Q2 2025 | 12 | $7.9B | IEP, CVI, SWX, UAN, IFF |
| Q1 2025 | 14 | $7.5B | IEP, CVI, SWX, UAN, IFF |
| Q4 2024 | 14 | $7.4B | IEP, CVI, SWX, IFF, UAN |
| Q3 2024 | 14 | $9.9B | IEP, CVI, SWX, IFF, BHC |
| Q2 2024 | 14 | $10.8B | IEP, CVI, SWX, IFF, UAN |
| Q1 2024 | 13 | $11.2B | IEP, CVI, SWX, BHC, IFF |