Carl Icahn Initiated A New 14.54% Activist Stake In CVR Energy

ICAHN CAPITAL LPCarl Icahn recently filed for his new position in CVR Energy Inc. (CVI). According to a SEC regulatory disclosure, Carl Icahn now has 12.58 million shares of CVI in his portfolio, giving him a 14.54% activist stake ownership. In the third quarter, Carl Icahn did not have a position in the CVI. CVI slumped in late November and dropped nearly 40% in one month, so Icahn might have seen this decline as a buying opportunity. It's possible that he bought most shares at round $19. Now CVI is trading at $23.50.

David Tepper is also bullish about CVI. His Appaloosa Management reported 6.31 million shares of CVI as of the end of September. Dan Loeb’s Third Point also had 4 million shares of CVI at that time. It’s clear that Carl Icahn has become CVI’s largest hedge fund stakeholder by now.

CVR Energy, Inc. “is an independent petroleum refiner and marketer of transportation fuels. In addition, CVR Energy owns all of the interests (other than the managing general partner interest and associated incentive distribution rights (the IDRs)) in CVR Partners, LP (the Partnership), is a limited partnership, which produces nitrogen fertilizers in the form of ammonia and urea ammonium nitrate (UAN). It has two business segments: petroleum and nitrogen fertilizer.” according to Google Finance.

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