What Carl C. Icahn changed, 2013 to 2026
53 quarterly 13F filings, from Q2 2013 to Q2 2026, each read from the filing itself. A quarter is compared only with the quarter before it, so a quarter with no filing is a gap in the record, not a sale.
Reported book
$8.3bn
$21.5bn at Q2 2013
Positions
12
19 at Q2 2013
Top ten weight
99%
90% at Q2 2013
Typical quarterly turnover
about 3%
Estimated from share changes
- Q2 2013: $21.5bn
- Q3 2013: $24.6bn
- Q4 2013: $30.5bn
- Q1 2014: $32.9bn
- Q2 2014: $38.5bn
- Q3 2014: $33.6bn
- Q4 2014: $31.9bn
- Q1 2015: $32.1bn
- Q2 2015: $31.2bn
- Q3 2015: $27.9bn
- Q4 2015: $29.4bn
- Q1 2016: $21.5bn
- Q2 2016: $20.3bn
- Q3 2016: $19.8bn
- Q4 2016: $22.4bn
- Q1 2017: $19.9bn
- Q2 2017: $19.6bn
- Q3 2017: $21.3bn
- Q4 2017: $22.7bn
- Q1 2018: $20.1bn
- Q2 2018: $24.1bn
- Q3 2018: $25.2bn
- Q4 2018: $20.4bn
- Q1 2019: $24.1bn
- Q2 2019: $26.5bn
- Q3 2019: $25.7bn
- Q4 2019: $26.2bn
- Q1 2020: $18.0bn
- Q2 2020: $19.7bn
- Q3 2020: $17.4bn
- Q4 2020: $20.1bn
- Q1 2021: $23.8bn
- Q2 2021: $24.3bn
- Q3 2021: $22.5bn
- Q4 2021: $22.3bn
- Q1 2022: $21.9bn
- Q2 2022: $20.9bn
- Q3 2022: $21.2bn
- Q4 2022: $21.8bn
- Q1 2023: $22.0bn
- Q2 2023: $15.5bn
- Q3 2023: $12.1bn
- Q4 2023: $10.9bn
- Q1 2024: $11.9bn
- Q2 2024: $10.8bn
- Q3 2024: $9.9bn
- Q4 2024: $7.4bn
- Q1 2025: $7.5bn
- Q2 2025: $7.9bn
- Q3 2025: $9.1bn
- Q4 2025: $8.4bn
- Q1 2026: $8.6bn
- Q2 2026: $8.3bn
- Q2 2013: 90%
- Q3 2013: 93%
- Q4 2013: 89%
- Q1 2014: 88%
- Q2 2014: 91%
- Q3 2014: 87%
- Q4 2014: 88%
- Q1 2015: 90%
- Q2 2015: 91%
- Q3 2015: 87%
- Q4 2015: 83%
- Q1 2016: 90%
- Q2 2016: 87%
- Q3 2016: 92%
- Q4 2016: 91%
- Q1 2017: 94%
- Q2 2017: 94%
- Q3 2017: 93%
- Q4 2017: 93%
- Q1 2018: 95%
- Q2 2018: 90%
- Q3 2018: 90%
- Q4 2018: 95%
- Q1 2019: 95%
- Q2 2019: 96%
- Q3 2019: 92%
- Q4 2019: 92%
- Q1 2020: 93%
- Q2 2020: 97%
- Q3 2020: 97%
- Q4 2020: 95%
- Q1 2021: 91%
- Q2 2021: 93%
- Q3 2021: 94%
- Q4 2021: 95%
- Q1 2022: 96%
- Q2 2022: 96%
- Q3 2022: 96%
- Q4 2022: 97%
- Q1 2023: 98%
- Q2 2023: 98%
- Q3 2023: 98%
- Q4 2023: 98%
- Q1 2024: 98%
- Q2 2024: 98%
- Q3 2024: 98%
- Q4 2024: 98%
- Q1 2025: 98%
- Q2 2025: 99%
- Q3 2025: 99%
- Q4 2025: 98%
- Q1 2026: 99%
- Q2 2026: 99%
The positions that defined it
Every position that was ever among the 25 largest: when it first appeared, when it was largest, and where it stands in Q2 2026. The line is its reported value each quarter.
| Position | Value over time | First listed | Largest | Q2 2026 |
|---|---|---|---|---|
| Icahn Enterprises LP(IEP)Depositary Unit | Q2 2013 | $15.5bnQ1 2023 | $4.5bn | |
| CVR Energy Inc(CVI) | Q2 2013 | $3.6bnQ2 2019 | $2.0bn | |
| CVR Partners, LP(UAN) | Q1 2024 | $527mQ1 2026 | $464m | |
| Centuri Holdings, Inc.(CTRI) | Q2 2024 | $434mQ2 2026 | $434m | |
| International Flavors and Fragrances Inc.(IFF) | Q1 2022 | $393mQ3 2024 | $339m | |
| EchoStar Corporation(ECHO)Class A | Q3 2025 | $365mQ4 2025 | $143m | |
| JetBlue Airways Corp.(JBLU) | Q1 2024 | $165mQ3 2025 | $118m | |
| Monro, Inc.(MNRO) | Q3 2025 | $102mQ4 2025 | $87m | |
| Caesars Entertainment, Inc.(CZR) | Q2 2024 | $102mQ3 2024 | $74m | |
| Sandridge Energy Inc(SD) | Q4 2017 | $102mQ4 2017 | $69m | |
| American Electric Power Company(AEP) | Q4 2023 | $158mQ1 2026 | $59m | |
| Bausch Plus Lomb Corp.(BLCO) | Q2 2022 | $70mQ2 2023 | $58m | |
| Hologic Inc(HOLX) | Q4 2013 | $6.9bnQ2 2014 | Soldlast listed Q4 2015 | |
| Apple Inc | Q4 2014 | $6.6bnQ2 2015 | Soldlast listed Q2 2015 | |
| Apple Inc(AAPL) | Q3 2013 | $5.8bnQ3 2015 | Soldlast listed Q4 2015 | |
| American Intl Group Inc(AIG) | Q3 2015 | $3.0bnQ4 2016 | Soldlast listed Q4 2017 | |
| Forest Labs Inc | Q2 2013 | $2.8bnQ1 2014 | Soldlast listed Q1 2014 | |
| eBay Inc(EBAY) | Q1 2014 | $2.8bnQ2 2015 | Soldlast listed Q2 2015 | |
| Federal Mogul Corp | Q2 2013 | $2.5bnQ2 2014 | Soldlast listed Q4 2016 | |
| Occidental Pete Corp(OXY) | Q2 2019 | $2.3bnQ1 2021 | Soldlast listed Q4 2021 |
Quarter by quarter
Q1 2024: $11.9bn across 14 positions
Against Q4 2023: 2 new, 1 added to, 0 trimmed, 2 sold out, across all 14 positions.
Turnover about 2% of the book, estimated from share changes at quarter-end prices.
Largest additions
- International Flavors and Fragrances Inc. (IFF)+$270m
Largest reductions
No position was cut this quarter.
Opened
- CVR Partners, LP (UAN)$306m
- JetBlue Airways Corp. (JBLU)$132m
Sold out
- FirstEnergy Corp (FE)was $216m
- Newell Brands Inc (NWL)was $52m
Largest positions, Q1 2024
| Position | Value | Weight | On the quarter |
|---|---|---|---|
| Icahn Enterprises LP (IEP) | $6.3bn | 52.5% | Held |
| CVR Energy Inc (CVI) | $2.4bn | 20.0% | Held |
| Southwest Gas Holdings Inc. (SWX) | $839m | 7.0% | Held |
| Occidental Petroleum Corp Warrants | $711m | 6.0% | Held |
| Bausch Health Companies Inc (BHC) | $368m | 3.1% | Held |
| International Flavors and Fragrances Inc. (IFF) | $322m | 2.7% | Added |
| CVR Partners, LP (UAN) | $306m | 2.6% | New |
| Dana Inc. (DAN) | $181m | 1.5% | Held |
| JetBlue Airways Corp. (JBLU) | $132m | 1.1% | New |
| Conduent Inc (CNDT) | $129m | 1.1% | Held |
| American Electric Power Company (AEP) | $104m | 0.9% | Held |
| Sandridge Energy Inc (SD) | $70m | 0.6% | Held |
| Bausch Plus Lomb Corp. (BLCO) | $61m | 0.5% | Held |
| Illumina Inc. (ILMN) | $59m | 0.5% | Held |
The books most like this one
Among the managers whose filings are on file, at Q2 2026. Overlap is the share of the two books that is the same: for every stock both list, the smaller of its two weights, added up. Two books can overlap because both own the largest companies; it says nothing about whether the managers agree.
| Manager | Overlap | Stocks in both | Overlap over time | |
|---|---|---|---|---|
| Davidson Kempner Capital Management LP | 2.4% | 2 | Compare | |
| Dodge & Cox | 2.2% | 2 | Compare | |
| PDT Partners LLC | 1.3% | 4 | Compare | |
| Steadfast Capital Management LP | 1.3% | 1 | Compare | |
| First Eagle Investment Management LLC | 1.2% | 1 | Compare | |
| GAMCO Investors Inc | at least 1.0% | 5 | Compare | |
| Soros Fund Management LLC | 0.9% | 2 | Compare | |
| Winton Group Ltd | at least 0.8% | 4 | Compare |
“At least” where either manager has more positions than are read each quarter: a stock both hold below that range is not counted.
The filings behind it
Every quarter above is one 13F holdings report, with any amendment the filer made to it applied in the order it was filed. Where the reporting entity changed, each quarter keeps the filer that actually reported it.
| Quarter | Filer | Book | Amended | Filing |
|---|---|---|---|---|
| Q2 2026 | Carl C. Icahn | $8.3bn | 13F-HR | |
| Q1 2026 | Carl C. Icahn | $8.6bn | 13F-HR | |
| Q4 2025 | Carl C. Icahn | $8.4bn | 13F-HR | |
| Q3 2025 | Carl C. Icahn | $9.1bn | 13F-HR | |
| Q2 2025 | Carl C. Icahn | $7.9bn | 13F-HR | |
| Q1 2025 | Carl C. Icahn | $7.5bn | 13F-HR | |
| Q4 2024 | Carl C. Icahn | $7.4bn | 13F-HR | |
| Q3 2024 | Carl C. Icahn | $9.9bn | 13F-HR | |
| Q2 2024 | Carl C. Icahn | $10.8bn | 13F-HR | |
| Q1 2024 | Carl C. Icahn | $11.9bn | 13F-HR | |
| Q4 2023 | Carl C. Icahn | $10.9bn | 13F-HR | |
| Q3 2023 | Carl C. Icahn | $12.1bn | 13F-HR | |
| Q2 2023 | Carl C. Icahn | $15.5bn | 13F-HR | |
| Q1 2023 | Carl C. Icahn | $22.0bn | 13F-HR | |
| Q4 2022 | Carl C. Icahn | $21.8bn | 13F-HR | |
| Q3 2022 | Carl C. Icahn | $21.2bn | 13F-HR | |
| Q2 2022 | Carl C. Icahn | $20.9bn | 13F-HR | |
| Q1 2022 | Carl C. Icahn | $21.9bn | 13F-HR | |
| Q4 2021 | Carl C. Icahn | $22.3bn | 13F-HR | |
| Q3 2021 | Carl C. Icahn | $22.5bn | 13F-HR | |
| Q2 2021 | Carl C. Icahn | $24.3bn | 13F-HR | |
| Q1 2021 | Carl C. Icahn | $23.8bn | 13F-HR | |
| Q4 2020 | Carl C. Icahn | $20.1bn | 13F-HR | |
| Q3 2020 | Carl C. Icahn | $17.4bn | 13F-HR | |
| Q2 2020 | Carl C. Icahn | $19.7bn | 13F-HR | |
| Q1 2020 | Carl C. Icahn | $18.0bn | 13F-HR | |
| Q4 2019 | Carl C. Icahn | $26.2bn | 13F-HR | |
| Q3 2019 | Carl C. Icahn | $25.7bn | 13F-HR | |
| Q2 2019 | Carl C. Icahn | $26.5bn | 13F-HR | |
| Q1 2019 | Carl C. Icahn | $24.1bn | 13F-HR | |
| Q4 2018 | Carl C. Icahn | $20.4bn | 13F-HR | |
| Q3 2018 | Carl C. Icahn | $25.2bn | 13F-HR | |
| Q2 2018 | Carl C. Icahn | $24.1bn | 13F-HR | |
| Q1 2018 | Carl C. Icahn | $20.1bn | 13F-HR | |
| Q4 2017 | Carl C. Icahn | $22.7bn | 13F-HR | |
| Q3 2017 | Carl C. Icahn | $21.3bn | 13F-HR | |
| Q2 2017 | Carl C. Icahn | $19.6bn | 13F-HR | |
| Q1 2017 | Carl C. Icahn | $19.9bn | 13F-HR | |
| Q4 2016 | Carl C. Icahn | $22.4bn | 13F-HR | |
| Q3 2016 | Carl C. Icahn | $19.8bn | 13F-HR | |
| Q2 2016 | Carl C. Icahn | $20.3bn | 13F-HR | |
| Q1 2016 | Carl C. Icahn | $21.5bn | 13F-HR | |
| Q4 2015 | Carl C. Icahn | $29.4bn | 13F-HR | |
| Q3 2015 | Carl C. Icahn | $27.9bn | 13F-HR | |
| Q2 2015 | Carl C. Icahn | $31.2bn | 13F-HR | |
| Q1 2015 | Carl C. Icahn | $32.1bn | 13F-HR | |
| Q4 2014 | Carl C. Icahn | $31.9bn | 13F-HR | |
| Q3 2014 | Carl C. Icahn | $33.6bn | 13F-HR | |
| Q2 2014 | Carl C. Icahn | $38.5bn | 13F-HR | |
| Q1 2014 | Carl C. Icahn | $32.9bn | 13F-HR | |
| Q4 2013 | Carl C. Icahn | $30.5bn | 13F-HR | |
| Q3 2013 | Carl C. Icahn | $24.6bn | 13F-HR | |
| Q2 2013 | Carl C. Icahn | $21.5bn | 13F-HR |
Reading this record
A 13F lists US-listed long equity and options at the quarter end, filed up to 45 days later. It shows what was held, not when it was bought or at what price, and nothing short. Where a quarter lists only the largest positions, a name missing from it may still be held below that range; the counts of what was opened and sold always cover the whole filing.
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