Carl Icahn's Portfolio Shows Significant Shifts in Key Holdings During Q4 2025

Carl Icahn's portfolio, managed by Icahn Capital Management, displayed significant shifts during the quarter ending December 2025. His largest position, Icahn Enterprises LP (IEP), an Energy stock, saw its share count increase by 5.87%, marking a substantial stake growth. IEP, which accounts for 49.12% of Icahn's total portfolio, is available for more detailed analysis here.

Another major mover was Centuri Holdings, Inc. (CTRI), a Utilities stock. Icahn increased his stake in CTRI by 32.16%, adding significantly to his position, which currently represents 4.29% of the portfolio. Further details on CTRI can be found here.

In contrast, Icahn reduced his position in EchoStar Corporation (SATS), a Technology stock. The stake decreased by 22.96%, reflecting an unwinding of a prior position, which held 4.32% of the portfolio. More information about SATS is available here.

Icahn Capital Management also saw a reduction in its stake in International Flavors and Fragrances Inc. (IFF), a Basic Materials company. The position decreased by 10.00%, down from its previous allocation. For more on IFF, visit here.

Conversely, Monro, Inc. (MNRO), a Consumer Cyclical stock, experienced a massive increase of 246.66% in Icahn's holdings during the quarter. This significant stake growth currently makes up 1.21% of the portfolio. Details on MNRO can be explored here.

Lastly, Icahn's position in SandRidge Energy, Inc. (SD), another Energy stock, increased slightly by 0.85%. This small stake, representing 0.84% of the portfolio, is detailed here.