Icahn Ramps Up Bets On Genes And Jets: Illumina Stake Jumps 450%, JetBlue Holding Grow 90%

Carl Icahn is making bold moves from the lab to the tarmac.

According to his latest 13F filing for the quarter ended March 31, the billionaire activist investor significantly boosted his holdings in Illumina Inc. ILMN and JetBlue Airways Corp. JBLU – a striking bet on both biotech and airlines.

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Three Of Icahn’s Top Holdings Are Healthcare Stocks

Icahn increased his stake in Illumina by 450%, adding 180,000 shares to bring his total holding to 220,000 shares. That holding now represents 0.25% of his $7 billion portfolio, up from just 0.07% previously.

The genomics giant ranks 13th in Icahn's portfolio and was one of his top percentage gainers this quarter. The move signals renewed conviction in the embattled DNA sequencing company, which has been under pressure amid boardroom battles and regulatory scrutiny.

Icahn's top three healthcare holdings now include Bausch Health Companies Inc BHC, Bausch + Lomb Corp BLCO and Illumina – a diverse mix that spans pharma, optics, and biotech.

But that wasn't the only high-flyer in Icahn's crosshairs.

JetBlue Boost – Turnaround Potential?

He nearly doubled down on JetBlue, boosting his stake by 89.66% with a purchase of nearly 15.9 million shares.

Icahn now owns 33.6 million shares of the airline, worth over $162 million, making it the 7th largest position in his portfolio. That's up from 1.88% of the portfolio to 2.33%. Notably, Icahn first took a position in JetBlue in the first quarter of 2024, and the ramp-up suggests he sees serious turnaround potential.

While JetBlue and Illumina were among the top buys this quarter, Icahn trimmed exposure elsewhere, most notably Southwest Gas Holdings Inc SWX, which saw a 1.96% drop in portfolio allocation.

With bets spanning DNA sequencing and discount air travel, Icahn’s latest moves show he's not afraid to invest where turbulence—literal or figurative—is part of the ride.

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Image created using artificial intelligence via Midjourney.