Carl Icahn Stock Portfolio: Top 5 Picks

4. FirstEnergy Corp. (NYSE:FE)

Icahn Capital’s Stake Value: $728.2M

Percentage of Icahn Capital’s 13F Portfolio: 3.49%

Number of Hedge Fund Holdings: 42

FirstEnergy Corp. (NYSE:FE) is an electric utility which focuses on the distribution, transmission and generation of electricity, energy management, and other similar services. The company is one of the largest investor-owned utility companies in the United States, with a customer base of almost 8 million within 65,000 square miles.

Icahn Capital is the largest shareholder in the stock, with FirstEnergy Corp. (NYSE:FE) making up for 3.49% for the billionaire’s 13F portfolio for Q2 2022. Carl Icahn has a total stake of $728.2 million in FirstEnergy Corp. (NYSE:FE).

Here is what ClearBridge Investments had to say about FirstEnergy Corp. (NYSE:FE) in their Q4 2021 investor letter:

“On a regional level, the Strategy’s largest exposure is in the U.S. and Canada (44%), consisting of regulated and contracted utilities (31%) and economically sensitive user-pays infrastructure (13%).
During the quarter we initiated new positions in U.S. electric utility FirstEnergy.  With supply chain issues, higher housing costs, higher commodity prices and producer price inflation remaining square in the sights for 2022, we think higher inflation is a risk for global markets. We expect growth to slow to trend or below by mid-2022 and U.S.”