Icahn Capital 13F: Q2 2026 Portfolio — $8.26B Across 12 Positions

Icahn Capital · Carl Icahn · Q2 2026

Icahn Capital deepened concentration in IEP while trimming smaller exposures in Q2 2026.

Reported value

$8.26B

Filed 2026-08-14

Positions

Quarter ended 2026-06-30

Top 10 weight

98.6%

New0Added2Trimmed2Exited0View the SEC filing

Form 13F reports long US-listed positions only, up to 45 days after quarter end. It excludes shorts, cash, and non-US holdings, so the live book can differ.

Icahn Capital reported a $8.26B US-listed portfolio in its Q2 2026 Form 13F, filed with the SEC on 2026-08-14 for the quarter ended 2026-06-30. The book holds 12 positions, led by Icahn Enterprises at 54.0% of reported value; the top three together account for 83%. Against the Q1 2026 filing, the manager opened 0 new positions, added to 2, trimmed 2, and exited 0.

Top 12 holdings

Portfolio allocation

Icahn EnterprisesIEP54.0%
Cvr EnergyCVI23.7%
Cvr Partners,UAN5.6%
Centuri Holdings,CTRI5.3%
International Flavors And FragrancesIFF4.1%
EchostarECHO1.7%
Jetblue AirwaysJBLU1.4%
Monro,MNRO1.1%
Caesars Entertainment,CZR0.9%
Sandridge Energy,SD0.8%
Other holdings1.4%

Share of reported 13F value

#	Holding	Action	Weight	Value	Shares vs prior quarter
1	Icahn EnterprisesIEP	Added	54.0%	$4.46B	+12.6%
2	Cvr EnergyCVI	Unchanged	23.7%	$1.96B	0.0%
3	Cvr Partners,UAN	Unchanged	5.6%	$464M	0.0%
4	Centuri Holdings,CTRI	Unchanged	5.3%	$434M	0.0%
5	International Flavors And FragrancesIFF	Unchanged	4.1%	$339M	0.0%
6	EchostarECHO	Unchanged	1.7%	$143M	0.0%
7	Jetblue AirwaysJBLU	Trimmed	1.4%	$118M	-38.6%
8	Monro,MNRO	Unchanged	1.1%	$86.9M	0.0%
9	Caesars Entertainment,CZR	Unchanged	0.9%	$73.6M	0.0%
10	Sandridge Energy,SD	Added	0.8%	$69.3M	+2.2%
11	American Electric Power CompanyAEP	Trimmed	0.7%	$59.5M	-63.9%
12	Bausch Plus LombBLCO	Unchanged	0.7%	$58.0M	0.0%

Values and share counts as reported for 2026-06-30; weights are share of reported 13F value.

Actions compare share counts against the prior quarter's filing, so they do not move with price.

New positions and exits

New positions

No new positions this quarter.

Closed out

No positions closed out this quarter.

Read on the quarter

What the moves add up to

The quarter was dominated by a further build in its largest holding, with an add to Icahn Enterprises taking the top position to 53.95% of the portfolio and raising the share count by 12.6%. That reinforced an already highly concentrated structure, with the top 10 positions accounting for 98.6% of the portfolio.

Elsewhere, the firm largely maintained its core energy and industrial exposure. Cvr Energy remained at 23.73% with no share change, while Cvr Partners, and Centuri Holdings, were both held steady at 5.62% and 5.25%, respectively. Sandridge Energy, was the second notable adjustment, adding a 0.84% position with a 2.2% share increase.

Not all moves were adds: Jetblue Airways was trimmed with share count down 38.6% and American Electric Power Company saw an even larger reduction, with shares down 63.9%, though both remained relatively small versus the portfolio’s IEP-heavy concentration.

Context

How to read this filing

A Form 13F is a quarterly snapshot institutional managers with over $100M in US-listed assets must file within 45 days of quarter end. It shows long equity positions only: no short book, no cash, no non-US listings, no timing inside the quarter. Treat it as a delayed map of where the manager's conviction sat on the reporting date — not a live portfolio, and not a buy list.

Positions may have changed since the reporting date. Weight changes also reflect price moves, not only buying or selling — the action tags on this page are derived from share counts, which do not move with price.