Carl Icahn has maintained his large investments in oil companies, which comprise the four largest investments from the billionaire superinvestor outside of his own company.
This was revealed in Icahn’s 13F filing with the SEC, which is required for all investors who manage over $100 million in funds.
Icahn is the founder and controlling shareholder of Icahn Enterprises, a diversified holding company with interests in various industries, including manufacturing, energy, and healthcare.
Icahn is known for his aggressive investment style and willingness to take on corporate management.
He has been involved in several high-profile corporate battles, including his successful campaign to break up RJR Nabisco and his failed attempt to take over Time Warner.
Icahn was born in Queens, New York, in 1936. He attended Princeton University, where he studied philosophy.
After graduating from Princeton, Icahn worked as a stockbroker for several years before starting his own investment firm in 1968.
Icahn quickly became known for his aggressive style, which often involved buying large stakes in companies and then pressuring management to make changes to benefit shareholders.
In the 1980s, Icahn became one of the most famous investors in the United States and eventually became one of the wealthiest people in the world.
He is worth $6.3 billion and manages a portfolio worth just over $12 billion.
Icahn’s net worth has drastically declined in 2023 as the value of his company, Icahn Enterprises, has plummeted 53% this year. This has reduced his net worth by over $2 billion.
Earlier this year, infamous short-seller Hindenburg accused the company of “Ponzi-like” behaviour.
Hindenburg Research, led by Nathan Anderson, took a public short position in May, alleging Icahn Enterprises was “significantly overvalued” and propped up by a “Ponzi-like economic structure” with “inflated” investment returns.
Carl Icahn’s portfolio
A significant portion of Icahn’s portfolio is held in his own company, Icahn Enterprises, which is worth $6.9 billion. The rest of the portfolio amounts to less than $6 billion.
The decline in the share price of Icahn Enterprises led Icahn to buy up shares in his own company, increasing his holding by 4.8%.
Icahn retained a substantial position in Occidental Petroleum and added to his investment in Southwest Gas Holdings.
While energy companies comprise four of Icahn’s five largest holdings, he cut his stake in CVR Energy by 6.33%.
Icahn also significantly cut his holding in Newell Brands by 80.19% and completely sold his investment in Xerox Holdings.
|Company||Percent of portfolio||Change||Value|
|Icahn Enterprises||57.44%||Add 4.88%||$6,939,201,000|
|CVR Energy||18.79%||Reduce 6.33%||$2,269,542,000|
|Occidental Petroleum||5.9%||No change||$712,995,000|
|Southwest Gas Holdings||5.51%||Add 1.64%||$665,876,000|
|First Energy Corp.||3.99%||No change||$481,623,000|
|Bausch Health||2.36%||No change||$285,408,000|
|Crown Holdings||0.76%||No change||$92,028,000|
|SandRidge Energy||0.62%||No change||$75,463,000|
|Bausch + Lomb Corp.||0.49%||No change||$59,325,000|
|Illumina Inc.||0.49%||No change||$59,030,000|
|Newell Brands||0.44%||Reduce 80.19%||$53,645,000|
|International Flavours and Fragrances||0.36%||No change||$43,936,000|