Group 1 - Carl Icahn's equity book is valued at $7.89 billion, with top 10 holdings comprising 98.76% of assets as of June 30, 2025 [1] - Centuri Holdings Inc (CTRI) saw a significant increase in Icahn's stake by 157.55% to 6.4 million shares, valued at approximately $144 million, representing 1.82% of the portfolio [2] - Icahn has completely exited his position in Dana Inc (DAN) and sold off his stake in Illumina Inc (ILMN), indicating a strategic shift in his investment approach [2][3] Group 2 - The second-quarter changes reflect a focus on steady infrastructure and utility-linked earnings while maintaining positions in consumer and healthcare sectors [3] - International Flavors & Fragrances Inc (IFF) remains unchanged with 3.75 million shares valued at $276 million, indicating confidence in its turnaround potential [5] - Bausch Health Companies Inc (BHC) holds 34.7 million shares worth $231 million, representing a long-term bet on healthcare recovery [5]