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Carl Icahn

Icahn Capital Management · 12 closed periods in the current 3-year detail window (latest closed period: Q4 2025 → next disclosure, 13 priced positions, +10.89% return). Every disclosed long-equity position appears in the table for its period; the Valid column shows 1 (counted in the math) or 0 (excluded — hover the row for the reason). See the methodology for the exact math.

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2026-02-172026-05-15

13 of 13 priced100.00% coverage
+10.89%
Holdings from Q4 2025 disclosure · accession 0001539497-26-000679 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
IEP549,400,539$7.99$8.19$4.39B$4.5B+2.50%49.12%+1.2 bps1
CVI70,418,471$22.52$33.89$1.59B$2.39B+50.49%21.21%+10.7 bps1
SWX6,032,604$88.24$87.70$532.32M$529.06M-0.61%5.72%-0.0 bps1
UAN4,164,274$107.00$129.50$445.58M$539.27M+21.03%5.05%+1.1 bps1
SATS3,354,542$113.00$137.23$379.06M$460.34M+21.44%4.32%+0.9 bps1
CTRI14,336,044$31.29$31.29$448.57M$448.57M+0.00%4.29%+0.0 bps1
IFF4,275,000$82.74$73.10$353.71M$312.5M-11.65%3.41%-0.4 bps1
JBLU33,621,735$6.07$4.58$204.08M$153.99M-24.55%1.81%-0.4 bps1
AEP1,205,300$130.24$125.15$156.98M$150.84M-3.91%1.65%-0.1 bps1
MNRO5,078,573$22.46$15.76$114.06M$80.04M-29.83%1.21%-0.4 bps1
SD4,911,564$17.00$15.27$83.5M$75M-10.18%0.84%-0.1 bps1
BLCO3,500,000$17.73$16.09$62.06M$56.32M-9.25%0.71%-0.1 bps1
CZR2,440,109$18.95$27.80$46.24M$67.84M+46.70%0.68%+0.3 bps1
Top 5 (by entry value)(5)$7.4B$8.4B+13.52%
Total(13)$8.8B$9.76B+10.89%

2025-11-142026-02-17

13 of 13 priced100.00% coverage
-9.13%
Holdings from Q3 2025 disclosure · accession 0001539497-25-002973 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
IEP518,932,944$8.75$7.99$4.54B$4.15B-8.69%47.80%-4.2 bps1
CVI70,418,471$37.11$22.52$2.61B$1.59B-39.32%28.10%-11.0 bps1
SWX6,032,604$81.30$88.24$490.45M$532.32M+8.54%5.17%+0.4 bps1
UAN4,164,274$99.17$107.00$412.97M$445.58M+7.90%4.11%+0.3 bps1
SATS4,354,542$67.40$113.00$293.5M$492.06M+67.66%3.64%+2.5 bps1
IFF4,750,000$65.88$82.74$312.93M$393.02M+25.59%3.20%+0.8 bps1
CTRI10,847,672$20.87$31.29$226.39M$339.42M+49.93%2.51%+1.3 bps1
JBLU33,621,735$4.19$6.07$140.88M$204.08M+44.87%1.81%+0.8 bps1
AEP1,205,300$121.30$130.24$146.2M$156.98M+7.37%1.48%+0.1 bps1
CZR2,440,109$19.78$18.95$48.27M$46.24M-4.20%0.72%-0.0 bps1
SD4,870,233$14.43$17.00$70.28M$82.79M+17.81%0.60%+0.1 bps1
BLCO3,500,000$15.60$17.73$54.6M$62.06M+13.65%0.58%+0.1 bps1
MNRO1,465,000$17.42$22.46$25.52M$32.9M+28.93%0.29%+0.1 bps1
Top 5 (by entry value)(5)$8.37B$7.1B-15.14%
Total(13)$9.38B$8.52B-9.13%

2025-08-142025-11-14

12 of 12 priced100.00% coverage
+4.93%
Holdings from Q2 2025 disclosure · accession 0001539497-25-002145 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
IEP494,783,619$9.34$8.75$4.62B$4.33B-6.32%50.47%-3.2 bps1
CVI70,418,471$27.00$37.11$1.9B$2.61B+37.44%23.97%+9.0 bps1
SWX7,532,604$79.47$81.30$598.62M$612.4M+2.30%7.11%+0.2 bps1
UAN4,164,274$89.28$99.17$371.79M$412.97M+11.08%4.69%+0.5 bps1
IFF3,750,000$65.72$65.88$246.45M$247.05M+0.24%3.50%+0.0 bps1
BHC34,721,118$7.51$6.28$260.76M$218.05M-16.38%2.93%-0.5 bps1
CTRI6,403,877$20.50$20.87$131.28M$133.65M+1.80%1.82%+0.0 bps1
JBLU33,621,735$5.08$4.19$170.8M$140.88M-17.52%1.80%-0.3 bps1
AEP1,205,300$112.86$121.30$136.03M$146.2M+7.48%1.59%+0.1 bps1
CZR2,440,109$25.53$19.78$62.3M$48.27M-22.52%0.88%-0.2 bps1
SD4,818,832$10.80$14.43$52.04M$69.54M+33.61%0.66%+0.2 bps1
BLCO3,500,000$14.08$15.60$49.28M$54.6M+10.80%0.58%+0.1 bps1
Top 5 (by entry value)(5)$7.75B$8.19B+5.58%
Total(12)$8.6B$9.03B+4.93%

2025-05-152025-08-14

14 of 14 priced100.00% coverage
+3.30%
Holdings from Q1 2025 disclosure · accession 0001539497-25-001390 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
IEP450,788,170$9.67$9.34$4.36B$4.21B-3.41%54.55%-1.9 bps1
CVI68,534,270$24.36$27.00$1.67B$1.85B+10.84%17.76%+1.9 bps1
SWX7,532,604$69.18$79.47$521.11M$598.62M+14.87%7.22%+1.1 bps1
UAN4,099,155$81.24$89.28$333.02M$365.97M+9.90%4.12%+0.4 bps1
IFF3,750,000$76.13$65.72$285.49M$246.45M-13.67%3.89%-0.5 bps1
BHC34,721,118$4.60$7.51$159.72M$260.76M+63.26%3.00%+1.9 bps1
DAN14,286,505$16.07$18.75$229.58M$267.87M+16.68%2.54%+0.4 bps1
JBLU33,621,735$4.92$5.08$165.42M$170.8M+3.25%2.16%+0.1 bps1
AEP1,205,300$101.61$112.86$122.47M$136.03M+11.07%1.76%+0.2 bps1
CZR2,440,109$30.31$25.53$73.96M$62.3M-15.77%0.81%-0.1 bps1
SD4,818,832$10.29$10.80$49.59M$52.04M+4.96%0.74%+0.0 bps1
BLCO3,500,000$11.80$14.08$41.3M$49.28M+19.32%0.68%+0.1 bps1
CTRI2,486,495$19.97$20.50$49.66M$50.97M+2.65%0.54%+0.0 bps1
ILMN220,000$80.90$100.09$17.8M$22.02M+23.72%0.23%+0.1 bps1
Top 5 (by entry value)(5)$7.17B$7.27B+1.45%
Total(14)$8.08B$8.34B+3.30%

2025-02-142025-05-15

14 of 14 priced100.00% coverage
+0.39%
Holdings from Q4 2024 disclosure · accession 0001539497-25-000660 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
IEP450,788,170$9.92$9.67$4.47B$4.36B-2.52%52.71%-1.3 bps1
CVI66,692,381$18.56$24.36$1.24B$1.62B+31.25%16.85%+5.3 bps1
SWX9,632,604$77.53$69.18$746.82M$666.38M-10.77%9.19%-1.0 bps1
IFF3,750,000$85.58$76.13$320.93M$285.49M-11.04%4.28%-0.5 bps1
UAN4,066,192$77.40$81.24$314.72M$330.34M+4.96%4.17%+0.2 bps1
BHC34,721,118$6.16$4.60$213.88M$159.72M-25.32%3.77%-1.0 bps1
DAN14,286,505$16.35$16.07$233.58M$229.58M-1.71%2.23%-0.0 bps1
JBLU17,727,029$6.78$4.92$120.19M$87.22M-27.43%1.88%-0.5 bps1
AEP1,205,300$101.83$101.61$122.74M$122.47M-0.22%1.50%-0.0 bps1
CZR2,440,109$39.76$30.31$97.02M$73.96M-23.77%1.10%-0.3 bps1
BLCO3,500,000$16.41$11.80$57.44M$41.3M-28.09%0.85%-0.2 bps1
SD4,818,832$12.15$10.29$58.55M$49.59M-15.31%0.76%-0.1 bps1
CTRI2,486,495$20.71$19.97$51.5M$49.66M-3.57%0.65%-0.0 bps1
ILMN40,000$100.24$80.90$4.01M$3.24M-19.29%0.07%-0.0 bps1
Top 5 (by entry value)(5)$7.09B$7.27B+2.45%
Total(14)$8.05B$8.08B+0.39%

2024-11-142025-02-14

14 of 14 priced100.00% coverage
-12.36%
Holdings from Q3 2024 disclosure · accession 0001539497-24-002435 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
IEP433,206,933$12.56$9.92$5.44B$4.3B-21.02%59.30%-12.5 bps1
CVI66,692,381$18.75$18.56$1.25B$1.24B-1.01%15.55%-0.2 bps1
SWX11,022,604$76.28$77.53$840.8M$854.58M+1.64%8.23%+0.1 bps1
IFF3,750,000$89.37$85.58$335.14M$320.93M-4.24%3.98%-0.2 bps1
BHC34,721,118$8.76$6.16$304.16M$213.88M-29.68%2.87%-0.9 bps1
UAN3,892,000$72.32$77.40$281.47M$301.24M+7.02%2.65%+0.2 bps1
DAN14,286,505$8.34$16.35$119.15M$233.58M+96.04%1.53%+1.5 bps1
AEP1,205,300$93.76$101.83$113.01M$122.74M+8.61%1.25%+0.1 bps1
JBLU17,727,029$7.11$6.78$126.04M$120.19M-4.64%1.18%-0.1 bps1
CZR2,440,109$38.99$39.76$95.14M$97.02M+1.97%1.03%+0.0 bps1
BLCO3,500,000$19.57$16.41$68.5M$57.44M-16.15%0.68%-0.1 bps1
SD4,818,832$11.75$12.15$56.62M$58.55M+3.40%0.60%+0.0 bps1
CTRI3,591,929$20.32$20.71$72.99M$74.39M+1.92%0.59%+0.0 bps1
ILMN430,000$142.24$100.24$61.16M$43.1M-29.53%0.57%-0.2 bps1
Top 5 (by entry value)(5)$8.17B$6.92B-15.26%
Total(14)$9.17B$8.03B-12.36%

2024-08-142024-11-14

14 of 14 priced100.00% coverage
-18.57%
Holdings from Q2 2024 disclosure · accession 0001539497-24-001704 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
IEP406,313,986$16.85$12.56$6.85B$5.1B-25.46%61.75%-15.7 bps1
CVI66,692,381$25.57$18.75$1.71B$1.25B-26.67%16.47%-4.4 bps1
SWX11,022,604$71.94$76.28$792.97M$840.8M+6.03%7.15%+0.4 bps1
IFF3,750,000$96.71$89.37$362.66M$335.14M-7.59%3.29%-0.2 bps1
UAN3,892,000$70.11$72.32$272.87M$281.47M+3.15%2.72%+0.1 bps1
BHC34,721,118$5.53$8.76$192.01M$304.16M+58.41%2.23%+1.3 bps1
DAN14,286,505$10.50$8.34$150.01M$119.15M-20.57%1.60%-0.3 bps1
JBLU17,727,029$4.61$7.11$81.72M$126.04M+54.23%1.00%+0.5 bps1
AEP1,205,300$97.24$93.76$117.2M$113.01M-3.58%0.98%-0.0 bps1
CZR2,440,109$34.78$38.99$84.87M$95.14M+12.10%0.89%+0.1 bps1
SD4,818,832$13.10$11.75$63.13M$56.62M-10.31%0.57%-0.1 bps1
BLCO3,500,000$15.41$19.57$53.94M$68.5M+27.00%0.47%+0.1 bps1
CTRI2,591,929$15.76$20.32$40.85M$52.67M+28.93%0.47%+0.1 bps1
ILMN430,000$122.28$142.24$52.58M$61.16M+16.32%0.41%+0.1 bps1
Top 5 (by entry value)(5)$9.98B$7.81B-21.73%
Total(14)$10.82B$8.81B-18.57%

2024-05-152024-08-14

13 of 13 priced100.00% coverage
-8.61%
Holdings from Q1 2024 disclosure · accession 0001539497-24-001052 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
IEP367,879,902$18.20$16.85$6.7B$6.2B-7.42%55.84%-4.1 bps1
CVI66,692,381$28.90$25.57$1.93B$1.71B-11.52%21.22%-2.4 bps1
SWX11,022,604$76.11$71.94$838.93M$792.97M-5.48%7.49%-0.4 bps1
BHC34,721,118$7.08$5.53$245.83M$192.01M-21.89%3.29%-0.7 bps1
IFF3,750,000$96.51$96.71$361.91M$362.66M+0.21%2.88%+0.0 bps1
UAN3,892,000$81.30$70.11$316.42M$272.87M-13.76%2.73%-0.4 bps1
DAN14,286,505$14.00$10.50$200.01M$150.01M-25.00%1.62%-0.4 bps1
JBLU17,727,029$6.09$4.61$107.96M$81.72M-24.30%1.17%-0.3 bps1
CNDT38,149,336$3.96$3.21$151.07M$122.46M-18.94%1.15%-0.2 bps1
AEP1,205,300$91.97$97.24$110.85M$117.2M+5.73%0.93%+0.1 bps1
SD4,818,832$13.86$13.10$66.79M$63.13M-5.48%0.63%-0.0 bps1
BLCO3,500,000$14.99$15.41$52.47M$53.94M+2.80%0.54%+0.0 bps1
ILMN430,000$111.88$122.28$48.11M$52.58M+9.30%0.53%+0.0 bps1
Top 5 (by entry value)(5)$10.14B$9.33B-7.96%
Total(13)$11.12B$10.17B-8.61%

2024-02-142024-05-15

13 of 13 priced100.00% coverage
-8.42%
Holdings from Q4 2023 disclosure · accession 0001539497-24-000494 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
IEP367,879,902$20.34$18.20$7.48B$6.7B-10.52%61.56%-6.5 bps1
CVI66,692,381$35.25$28.90$2.35B$1.93B-18.01%19.67%-3.5 bps1
SWX11,022,604$58.29$76.11$642.51M$838.93M+30.57%6.80%+2.1 bps1
BHC34,721,118$8.43$7.08$292.7M$245.83M-16.01%2.71%-0.4 bps1
FE5,887,171$36.93$40.26$217.41M$237.02M+9.02%2.10%+0.2 bps1
DAN14,286,505$13.35$14.00$190.72M$200.01M+4.87%2.03%+0.1 bps1
CNDT38,149,336$3.47$3.96$132.38M$151.07M+14.12%1.36%+0.2 bps1
AEP1,205,300$78.80$91.97$94.98M$110.85M+16.71%0.95%+0.2 bps1
SD4,818,832$12.29$13.86$59.22M$66.79M+12.77%0.64%+0.1 bps1
ILMN430,000$136.91$111.88$58.87M$48.11M-18.28%0.58%-0.1 bps1
BLCO3,500,000$14.29$14.99$50.02M$52.47M+4.90%0.58%+0.0 bps1
IFF644,510$79.38$96.51$51.16M$62.2M+21.58%0.51%+0.1 bps1
NWL5,940,744$7.61$8.39$45.21M$49.84M+10.25%0.50%+0.1 bps1
Top 5 (by entry value)(5)$10.99B$9.94B-9.48%
Total(13)$11.67B$10.69B-8.42%

2023-11-142024-02-14

13 of 13 priced100.00% coverage
+5.54%
Holdings from Q3 2023 disclosure · accession 0001539497-23-001928 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
IEP350,819,104$19.38$20.34$6.8B$7.14B+4.95%61.04%+3.0 bps1
CVI66,692,381$32.04$35.25$2.14B$2.35B+10.02%19.97%+2.0 bps1
SWX11,022,604$61.31$58.29$675.8M$642.51M-4.93%5.86%-0.3 bps1
FE14,090,778$36.63$36.93$516.15M$520.37M+0.82%4.24%+0.0 bps1
BHC34,721,118$6.79$8.43$235.76M$292.7M+24.15%2.51%+0.6 bps1
DAN14,286,505$12.88$13.35$184.01M$190.72M+3.65%1.84%+0.1 bps1
CNDT38,149,336$2.66$3.47$101.48M$132.38M+30.45%1.17%+0.4 bps1
CCK1,040,100$83.14$73.47$86.47M$76.42M-11.63%0.81%-0.1 bps1
SD4,818,832$15.00$12.29$72.28M$59.22M-18.07%0.66%-0.1 bps1
BLCO3,500,000$16.27$14.29$56.95M$50.02M-12.17%0.52%-0.1 bps1
ILMN430,000$94.83$136.91$40.78M$58.87M+44.36%0.52%+0.2 bps1
NWL5,940,744$7.36$7.61$43.72M$45.21M+3.40%0.47%+0.0 bps1
IFF644,510$73.66$79.38$47.47M$51.16M+7.77%0.39%+0.0 bps1
Top 5 (by entry value)(5)$10.36B$10.94B+5.58%
Total(13)$11B$11.61B+5.54%

2023-08-142023-11-14

14 of 14 priced100.00% coverage
-16.44%
Holdings from Q2 2023 disclosure · accession 0001539497-23-001450 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
IEP334,494,577$24.16$19.38$8.08B$6.48B-19.78%65.31%-12.9 bps1
CVI71,198,718$35.99$32.04$2.56B$2.28B-10.98%14.35%-1.6 bps1
SWX10,844,681$64.93$61.31$704.15M$664.89M-5.58%4.64%-0.3 bps1
FE14,090,778$36.86$36.63$519.39M$516.15M-0.62%3.68%-0.0 bps1
XRX34,245,314$15.27$13.77$522.93M$471.56M-9.82%3.43%-0.3 bps1
BHC34,721,118$8.42$6.79$292.35M$235.76M-19.36%1.87%-0.4 bps1
NWL29,985,763$10.58$7.36$317.25M$220.7M-30.43%1.75%-0.5 bps1
DAN14,286,505$16.84$12.88$240.58M$184.01M-23.52%1.63%-0.4 bps1
CNDT38,149,336$3.27$2.66$124.75M$101.48M-18.65%0.87%-0.2 bps1
CCK1,040,100$89.22$83.14$92.8M$86.47M-6.81%0.61%-0.0 bps1
ILMN430,000$170.37$94.83$73.26M$40.78M-44.34%0.54%-0.2 bps1
SD4,818,832$16.34$15.00$78.74M$72.28M-8.20%0.49%-0.0 bps1
BLCO3,500,000$18.86$16.27$66.01M$56.95M-13.73%0.47%-0.1 bps1
IFF644,510$64.97$73.66$41.87M$47.47M+13.38%0.35%+0.0 bps1
Top 5 (by entry value)(5)$12.39B$10.42B-15.93%
Total(14)$13.72B$11.46B-16.44%

2023-05-152023-08-14

16 of 16 priced100.00% coverage
-12.65%
Holdings from Q1 2023 disclosure · accession 0001539497-23-000903 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
IEP299,997,624$34.12$24.16$10.24B$7.25B-29.19%72.66%-21.2 bps1
CVI71,198,718$24.83$35.99$1.77B$2.56B+44.95%10.93%+4.9 bps1
FE18,967,757$38.81$36.86$736.14M$699.15M-5.02%3.56%-0.2 bps1
SWX10,520,600$55.80$64.93$587.05M$683.1M+16.36%3.08%+0.5 bps1
XRX34,245,314$14.42$15.27$493.82M$522.93M+5.89%2.47%+0.1 bps1
NWL29,985,763$9.28$10.58$278.27M$317.25M+14.01%1.75%+0.2 bps1
BHC34,721,118$6.03$8.42$209.37M$292.35M+39.64%1.32%+0.5 bps1
DAN14,286,505$13.46$16.84$192.3M$240.58M+25.11%1.01%+0.3 bps1
LNG1,000,000$149.80$164.59$149.8M$164.59M+9.87%0.74%+0.1 bps1
CNDT38,149,336$2.91$3.27$111.01M$124.75M+12.37%0.61%+0.1 bps1
ILMN430,000$199.27$170.37$85.69M$73.26M-14.50%0.47%-0.1 bps1
CCK1,040,100$82.83$89.22$86.15M$92.8M+7.71%0.40%+0.0 bps1
SD4,818,832$16.36$16.34$78.84M$78.74M-0.12%0.33%-0.0 bps1
BLCO3,500,000$18.60$18.86$65.1M$66.01M+1.40%0.29%+0.0 bps1
IFF644,510$84.36$64.97$54.37M$41.87M-22.98%0.28%-0.1 bps1
HRI230,160$102.90$134.63$23.68M$30.99M+30.84%0.12%+0.0 bps1
Top 5 (by entry value)(5)$13.82B$11.72B-15.23%
Total(16)$15.16B$13.24B-12.65%