Carl Icahn’s 13F in Q2 2026: 83% in his own companies, JetBlue cut, and the IEP units that were not a purchase

Carl Icahn filed his 13F for the second quarter of 2026 on August 14. It lists 12 companies worth $8.26 billion on June 30, down from $8.55 billion three months earlier, the same 12 he held in March. The filing also covers nine entities of his group, among them Icahn Capital and subsidiaries of Icahn Enterprises, so most of what it shows is not a set of stock picks but his own holding company and the businesses it controls.

Mostly his own companies

Icahn Enterprises is a diversified holding company — investment, energy, automotive, food packaging, real estate, home fashion and pharma — of which Mr. Icahn and his affiliates owned about 87% of the units on June 30, its 10-Q says. It owns about 71% of CVR Energy, and CVR Energy holds about 37% of CVR Partners. Together the three were 83.3% of the 13F.

The IEP position grew by 68,992,804 units in the quarter, but that was not a purchase. Icahn Enterprises pays $0.50 a unit each quarter and lets holders take cash or new units; in April it delivered 32,536,774 units to Mr. Icahn and his affiliates and in June 36,456,030, which add up exactly to the increase. After another distribution in September he held 658,924,537 units, 87.69%, according to a Schedule 13D amendment filed on September 25. In August Icahn Enterprises also completed the sale of Pep Boys to Mavis for about $700 million.

What he sold

He cut JetBlue by 38.6%, to 20.7 million shares, selling in the open market in May and June at $4.69 to $5.11 a share, according to his 13D amendments. The selling continued after the quarter: from August 17 to 20 he sold another 8.1 million shares and was left with 12.5 million, 3.32% of the airline, below the 5% level that requires him to keep reporting. He also cut American Electric Power by 63.9%, to 434,710 shares, and added 107,206 shares of SandRidge Energy. The filings do not say why.

Since June 30

Repriced at the October 23 close, the same June 30 holdings would be worth about $9.42 billion, 14% more, almost all of it from CVR Energy, which has more than doubled (+111%) with no filing that explains the move. JetBlue fell 54%, Centuri 36% and Icahn Enterprises 20%. That figure overstates JetBlue, which he had already sold down further, and understates IEP, where he received more units.

Two cautions. Subsidiaries of EchoStar, including Hughes Satellite Systems, filed for Chapter 11 reorganization on August 2, 2026, and its DISH DBS subsidiary emerged from its restructuring on October 1; EchoStar itself is not in Chapter 11. And a 13F shows long U.S. stock positions at the end of the quarter only: it leaves out short positions, derivatives, bonds and cash, and it does not say on which day shares changed hands.

The figures come from the 13F filings, Icahn Enterprises’ 10-Q for the second quarter of 2026, Schedule 13D amendments and the companies’ 8-K filings. They describe what happened; they are not a forecast and not investment advice.