Billionaire Carl Icahn Portfolio: Top 5 Stock Picks

4. CVR Energy, Inc. (NYSE:CVI)

Carl Icahn’s Stake Value: $1,186,171,000

Percentage of Carl Icahn’s 13F Portfolio: 5.26%

Number of Hedge Fund Holders: 16

CVR Energy, Inc. (NYSE:CVI) is a Texas-based holding company engaged in petroleum refining and the nitrogen fertilizer manufacturing business via its subsidiaries. Billionaire Carl Icahn, as of September 2021, holds over 71 million shares in CVR Energy, Inc. (NYSE:CVI), worth $1.18 billion, accounting for 5.26% of his Q3 investments. 

CVR Energy, Inc. (NYSE:CVI) announced on November 1 its Q3 results. EPS in the period totaled -$0.24, missing estimates by -$0.22. The $1.88 billion revenue exceeded estimates by $150.85 million. 

Due to macro headwinds and limited upside potential associated with the stock, Credit Suisse analyst Manav Gupta on October 27 downgraded CVR Energy, Inc. (NYSE:CVI)  to Underperform from Neutral with a price target of $20, up from $19.

The Q3 database of Insider Monkey reported that 16 hedge funds were long CVR Energy, Inc. (NYSE:CVI), with total stakes amounting to $1.24 billion. Encompass Capital Advisors is one of the leading stakeholders of the company in the third quarter, with an $8.72 million position.