Growth Stock Portfolio: 12 Stock Picks by Carl C. Icahn

8. JetBlue Airways Corporation (NASDAQ:JBLU)

Icahn Capital LP’s Stake: $153 Million

JetBlue Airways Corporation (NASDAQ:JBLU) is a relatively new addition to the 13F portfolio of Icahn Capital. The fund first disclosed a stake in the company back in the first quarter of 2024. Back then, this position comprised 17.7 million shares. No new activity was registered against this position till the fourth quarter of 2024. However, in the first quarter of 2025, the fund added to this holding by nearly 90%, growing the stake to 33 million shares. Filings for the fourth quarter of 2025 show that the fund owns 33.6 million shares in the firm.

JetBlue Airways Corporation (NASDAQ:JBLU) has become a focus of attention on Wall Street since reports that the firm is exploring the possibility of a merger with a bigger airline. The collapse of Spirit Airlines in early 2026 has also acted as a major tailwind for the stock. With a major low-cost competitor gone, hedge funds anticipate a reduction in fare wars, allowing JetBlue to raise prices and recapture revenue. Investors are betting that JetBlue would be a primary beneficiary of the redirected passenger traffic, particularly in Florida and the Caribbean. The company reported a wider-than-expected loss of $0.87 per share in Q1 2026, largely due to a 26% surge in fuel costs. Revenue Per Available Seat Mile (RASM) grew 6.5% year-over-year, hitting the upper end of guidance.