Carl Icahn didn't sell any stocks during the rout — here's what the legendary investor is betting on

Carl Icahn speaking at Delivering Alpha in New York on Sept. 13, 2016.
David A. Grogan | CNBC

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Billionaire activist investor Carl Icahn held tight during the coronavirus market rout in the first quarter, not selling any stocks, according to the latest filings. 

Icahn, the chairman of Icahn Enterprises, told CNBC in March he has been bearish on stocks for several years, believing the conditions were there for a sharp pullback. In the first quarter of 2020, when stocks experienced the worst first quarter on record due to the coronavirus pandemic, Icahn said he became more optimistic about some of his biggest positions. 

The billionaire only added new positions and increased already existing positions in the first quarter, SEC filings show.