Hedge Fund Billionaire Carl Icahn's Q3: The Activist Goes Defensive, Dumps A Disaster, And Loads Up On EchoStar

Benzinga_recent_news11-17

Activist hedge fund billionaire Carl Icahn may be 89, but his portfolio is moving like it's on an energy drink. The billionaire activist's latest 13F filing shows a $9.14 billion book in Q3 that looks...

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The billionaire activist's latest 13F filing shows a $9.14 billion book in Q3 that looks...</p>\n\n<a href=\"https://www.benzinga.com/markets/hedge-funds/25/11/48897194/hedge-fund-billionaire-carl-icahns-q3-the-activist-goes-defensive-dumps-a-disaster-and-loads-up-on-echostar\">Source Link</a>\n\n</div>\n","source":"benzinga_recent_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hedge Fund Billionaire Carl Icahn's Q3: The Activist Goes Defensive, Dumps A Disaster, And Loads Up On EchoStar</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHedge Fund Billionaire Carl Icahn's Q3: The Activist Goes Defensive, Dumps A Disaster, And Loads Up On EchoStar\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-11-17 21:59 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/markets/hedge-funds/25/11/48897194/hedge-fund-billionaire-carl-icahns-q3-the-activist-goes-defensive-dumps-a-disaster-and-loads-up-on-echostar><strong>Benzinga_recent_news</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Activist hedge fund billionaire Carl Icahn may be 89, but his portfolio is moving like it's on an energy drink. The billionaire activist's latest 13F filing shows a $9.14 billion book in Q3 that looks...</p>\n\n<a href=\"https://www.benzinga.com/markets/hedge-funds/25/11/48897194/hedge-fund-billionaire-carl-icahns-q3-the-activist-goes-defensive-dumps-a-disaster-and-loads-up-on-echostar\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"QLD","symbol_name":"2倍做多纳斯达克100指数ETF-ProShares","start_time":0,"source_url":"https://www.benzinga.com/markets/hedge-funds/25/11/48897194/hedge-fund-billionaire-carl-icahns-q3-the-activist-goes-defensive-dumps-a-disaster-and-loads-up-on-echostar","article_id":"2584934629","we_media_id":null,"thumbnails":["https://cdn.benzinga.com/files/images/story/2025/11/17/investor-charts-ai2.png?optimize=medium&dpr=2&auto=webp&width=240"],"rights":{"source":"benzinga_recent_news","url":"https://www.benzinga.com/markets/hedge-funds/25/11/48897194/hedge-fund-billionaire-carl-icahns-q3-the-activist-goes-defensive-dumps-a-disaster-and-loads-up-on-echostar","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2584934629","pubTimestamp":1763387940,"columns":[],"sourceInfo":{"source_id":"benzinga_recent_news","name":"Benzinga"},"weMediaInfo":null,"summary":"Carl Icahn's hedge fund Q3 portfolio reshuffle: $9.14B, concentrated, contrarian. Walked away from Bausch Health, added EchoStar.","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"QLD":"2倍做多纳斯达克100指数ETF-ProShares","LU0054578231.USD":"BGF SYSTEMATIC SUSTAINABLE GLOBAL SMALLCAP \"A2\" (USD) ACC","BK4590":"PTP","USAW.SI":"AMZN 3xLongSG261006","BK4585":"ETF&股票定投概念","NVIW.SI":"NVDA 3xLongSG261006","IFF":"国际香料香精","QID":"两倍做空纳斯达克指数ETF-ProShares","LU0985320562.USD":"NORDEA 1 GLOBAL STARS EQUITY \"BP\" (USD) ACC","BK4197":"燃气公用事业","MNRO":"Monro Muffler Brake","BK4206":"工业集团企业","SATS":"回声星通信","CTRI":"Centuri","LU2237438978.USD":"Amundi Funds US Pioneer A2 (C) USD",".IXIC":"NASDAQ Composite","BK4129":"建筑与工程","BK4504":"桥水持仓","SWX":"Southwest Gas Corp","BK4109":"特种化学制品","TQQQ":"纳指三倍做多ETF","BHC":"Bausch Health Companies Inc","PSQ":"做空纳斯达克100指数ETF-ProShares","BK4214":"汽车零售","BK4588":"碎股","SQQQ":"纳指三倍做空ETF","QQQ":"纳指100ETF","USJW.SI":"ALPHAB 3xLongSG261006","BK4089":"非传统电信运营商","BK4007":"制药","BK4100":"有线和卫星","TSYW.SI":"TESLA 3xLongSG261006","BK4561":"索罗斯持仓","IEP":"伊坎企业"},"translate_title":"对冲基金亿万富翁卡尔·伊坎(Carl Icahn)的第三季度：激进分子采取守势，抛出灾难，并买入EchoStar","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"QID":0.6,"NVIW.SI":0.6,"SWX":1,"IFF":1,"IEP":1,"PSQ":0.6,"QLD":0.6,"USAW.SI":0.6,"USJW.SI":0.6,"MNQmain":0.6,"TSYW.SI":0.6,"SQQQ":0.6,".IXIC":0.72,"TQQQ":0.6,"MNRO":1,"QQQ":0.6,"NQmain":0.6,"SATS":1.5,"BHC":1,"CTRI":1},"content_text":"Activist hedge fund billionaire Carl Icahn may be 89, but his portfolio is moving like it's on an energy drink. The billionaire activist's latest 13F filing shows a $9.14 billion book in Q3 that looks unmistakably Icahn: concentrated, contrarian and packed with companies that most hedge funds wouldn't touch with tongs. And this quarter, Icahn made a rare move — he actually reshuffled it.\nThe biggest headline is unmistakable: Icahn walked away from Bausch Health Companies Inc (NYSE:BHC) entirely, liquidating a massive 34.7 million-share stake. The position had melted down 75%, and Icahn finally did what Icahn almost never does — he quit. When the activist who normally doubles down decides to walk away, it tells you everything you need to know about sentiment.\nSouthwest Gas Holdings Inc (NYSE:SWX) also got clipped via top-line selling, signaling Icahn is trimming exposure to holdings that haven't delivered the recovery he expected.\nBut the real surprise sits in the \"new buys\" column: EchoStar Corp (NASDAQ:SATS). Icahn didn't nibble — he added 4.35 million shares and instantly made it one of his top five positions at 3.64% of the portfolio as of Sept. 30. It's a vintage Icahn trade: undervalued telecom, distressed narrative, optionality on strategic consolidation.\nHe mirrored that conviction in Centuri Holdings Inc (NYSE:CTRI), boosting the position by 32%, and in International Flavors & Fragrances Inc (NYSE:IFF), where he expanded his stake by 26% despite the stock's rough year. \nAnd in a rare small-cap swing, he more than tripled his position in Monro Inc (NASDAQ:MNRO), the struggling auto-repair chain that's now on Icahn's fix-it list.\nDespite the churn, Icahn's portfolio remains highly concentrated: 98.5% of capital sits in just 10 stocks. His crown jewel, Icahn Enterprises LP (NASDAQ:IEP), still accounts for nearly 48% of total assets — and he added another 24 million shares, even though the stock is down 80%. \nIf conviction had a caricature, this would be it.\nRead Also: Carl Icahn’s Biggest Bet Just Torched Half His Fortune\nIcahn didn't just tweak positions — he drew a new battle map. Dumping Bausch signals a rare surrender, while going big on EchoStar shows he still sees opportunities in old-school value. \nAnd with nearly half his portfolio tied to Icahn Enterprises, the activist's third quarter reshuffle is less about chasing trends — and more about doubling down on the empire he built.\nRead Next: \nImage created using artificial intelligence via Midjourney.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.9","shortVersion":"4.35.9","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2584934629","isCrawlerRequest":true}