In this article, we shall discuss the top 5 picks in Carl Icahn’s stock portfolio. To read our detailed analysis of Icahn’s history, his investment strategy, and hedge fund performance, go directly and see Carl Icahn Stock Portfolio: Top 12 Picks.
5. Newell Brands Inc. (NYSE:NWL)
Icahn Capital’s Stake Value: $629.7M
Percentage of Icahn Capital’s 13F Portfolio: 3.01%
Number of Hedge Fund Holdings: 22
Based in Atlanta, Georgia, Newell Brands (NYSE:NWL) is an American company which specializes in the manufacturing, marketing, and distribution of consumer and commercial products. Investor interest in Newell Brands (NYSE:NWL) has declined significantly in the second quarter of 2022, with 22 hedge funds long the stock, down from 31 hedge funds in the previous quarter.
Icahn Capital is more conservative in their ownership of the stock, having a total stake value of $629.7 million in Q2 2022. Icahn has maintained his hold over the stock from the preceding quarter, with Newell Brands (NYSE:NWL) making up for 3.01% of Icahn’s investment portfolio.
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.”
3. Cheniere Energy Inc. (NYSE:CQP)
Icahn Capital’s Stake Value: $746.5M
Percentage of Icahn Capital’s 13F Portfolio: 3.57%
Number of Hedge Fund Holdings: 65
Headquartered in Houston, Texas, Cheniere Energy Inc. (NYSE:CQP) is an American utility company which deals in liquefied natural gas. On September 19, Stifel analyst Benjamin Nolan raised the firm’s price target on Cheniere Energy Inc. (NYSE:CQP) from $159 to $201, keeping a Buy rating on the shares.
Icahn Capital is the largest shareholder in Cheniere Energy Inc. (NYSE:CQP), owning more than 5.61 million shares worth $746.5 million. A result of Icahn loosening his grip over the stock by 43%, Cheniere Energy Inc. (NYSE:CQP) makes up for 3.57% of Icahn’s investment portfolio.
2. CVR Energy Inc. (NYSE:CVI)
Icahn Capital’s Stake Value: $2.39B
Percentage of Icahn Capital’s 13F Portfolio: 11.43%
Number of Hedge Fund Holdings: 22
CVR Energy Inc. (NYSE:CVI) is a diversified holding company, which specializes in petroleum refinery and the manufacture of nitrogen fertilizer.
On September 15, Wolfe Research analyst downgraded CVR Energy Inc. (NYSE:CVI) to Peer Perform from Outperform, and did not confer any price target on the stock.
As of Q2 2022, Icahn Capital is the largest shareholder in the stock, having stakes worth $2.39 billion. CVR Energy Inc. (NYSE:CVI) makes up for 11.43% of Icahn’s 13F portfolio for Q2 2022.
1. Icahn Enterprises L.P. (NASDAQ:IEP)
Icahn Capital’s Stake Value: $
Percentage of Icahn Capital’s 13F Portfolio: %
Number of Hedge Fund Holdings:
Based in Sunny Isle Beach, Florida, Icahn Enterprises L.P. (NASDAQ:IEP) is an American conglomerate which has diversified investments in the energy, automotive, food packaging, metals, real estate, and home fashion sectors. The company was founded by and is controlled by Carl Icahn, who owns 88% of the company’s common stock. Hedge fund sentiment around Icahn Enterprises L.P. (NASDAQ:IEP) has fallen in Q2 2022, with 2 hedge funds long the stock, compared to 4 hedge funds in Q1 2022. Icahn Capital is the largest shareholder in Q2 2022, owning more than 277.7 shares valued at $13.36 billion. The result of Icahn further strengthening his hold over the company by 9%, Icahn Enterprises L.P. (NASDAQ:IEP) makes up for 64.05% of Icahn’s 13F investment portfolio.
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