Insights from the Fourth Quarter 2024 13F Filing

Carl Icahn (Trades, Portfolio) recently submitted the 13F filing for the fourth quarter of 2024, providing insights into his investment moves during this period. Carl Icahn (Trades, Portfolio) is an activist investor known for taking significant stakes in public companies and typically pushing for change. He invests through three primary vehicles: the hedge fund Icahn Partners, American Real Estate Partners (a publicly traded private equity firm), and Icahn Management LP (another hedge fund). GuruFocus tracks the third portfolio, which covers all the stocks owned by Icahn Capital Management. Mr. Icahn is renowned for buying undervalued assets, often out of bankruptcy, and revitalizing them for future sale. He believes that "the consensus thinking is generally wrong," and prefers investing in companies and industries that are out of favor.

• Warning! GuruFocus has detected 4 Warning Signs with IEP.

Key Position Increases

Carl Icahn (Trades, Portfolio) also increased stakes in a total of 2 stocks, among them:

• The most notable increase was in Icahn Enterprises LP (NASDAQ:IEP), with an additional 17,581,237 shares, bringing the total to 450,788,170 shares. This adjustment represents a significant 4.06% increase in share count, a 2.06% impact on the current portfolio, with a total value of $3,908,333,440.
• The second largest increase was in CVR Partners LP (NYSE:UAN), with an additional 174,192 shares, bringing the total to 4,066,192. This adjustment represents a significant 4.48% increase in share count, with a total value of $308,867,940.

Key Position Reductions

Carl Icahn (Trades, Portfolio) also reduced positions in 3 stocks. The most significant changes include:

• Reduced Southwest Gas Holdings Inc (NYSE:SWX) by 1,390,000 shares, resulting in a -12.61% decrease in shares and a -1.04% impact on the portfolio. The stock traded at an average price of $74.32 during the quarter and has returned 2.63% over the past 3 months and 9.81% year-to-date.
• Reduced Illumina Inc (NASDAQ:ILMN) by 390,000 shares, resulting in a -90.7% reduction in shares and a -0.52% impact on the portfolio. The stock traded at an average price of $142.62 during the quarter and has returned -29.53% over the past 3 months and -24.99% year-to-date.

Portfolio Overview

At the fourth quarter of 2024, Carl Icahn (Trades, Portfolio)'s portfolio included 14 stocks. The top holdings included 52.71% in Icahn Enterprises LP (NASDAQ:IEP), 16.85% in CVR Energy Inc (NYSE:CVI), 9.19% in Southwest Gas Holdings Inc (NYSE:SWX), 4.28% in International Flavors & Fragrances Inc (NYSE:IFF), and 4.17% in CVR Partners LP (NYSE:UAN).

The holdings are mainly concentrated in 6 of the 11 industries: Energy, Utilities, Basic Materials, Healthcare, Consumer Cyclical, and Industrials.

This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.