Summary
Carl Icahn’s 13F portfolio value increased from $20.12B to $24.14B this quarter.
Herbalife and Cheniere Energy were reduced while increasing Newell Brands.
Icahn Enterprises, CVR Energy, and Herbalife are the three largest positions.
This article is part of a series that provides an ongoing analysis of the changes made to Carl Icahn’s 13F portfolio on a quarterly basis. It is based on Icahn’s regulatory 13F Form filed on 08/14/2018. Please visit our Tracking Carl Icahn’s Portfolio series to get an idea of his investment philosophy and our previous update for the fund’s moves during Q1 2018.
This quarter, Icahn’s 13F portfolio value increased ~20% from $20.12B to $24.14B. The number of holdings increased from 16 to 21. The portfolio is very concentrated with the largest five positions accounting for ~78% of the entire holdings: Icahn Enterprises (NYSE:IEP), CVR Energy (NYSE:CVI), Herbalife (NYSE:HLF), Cheniere Energy (NYSEMKT:LNG), and Freeport-McMoRan (NYSE:FCX).
Carl Icahn is best known for building sizable stakes in businesses and then pushing for changes to increase shareholder value. To learn more about his investing style and philosophy check out “King Icahn: The Biography of a Renegade Capitalist”.
Note: Icahn’s 13F filing is a consolidated report and so should not be viewed as a single portfolio. Specifically, Icahn Enterprises holds several of the businesses and the entities in turn hold Icahn Enterprises. For an idea on the business structure, check out Icahn Enterprises Investor Presentation (Slide 5).
