CVR Energy (CVI): Carl C. Icahn Has A Bullish View on This Stock

We just covered Growth Stock Portfolio: 12 Stock Picks by Carl C. Icahn and CVR Energy, Inc. (NYSE:CVI) ranks 2nd on this list.

CVR Energy, Inc. (NYSE:CVI) has been a staple in the 13F portfolio of Icahn Capital since the fourth quarter of 2011. Back then, this position comprised 3.83 million shares. The fund added to this stake and even grew it to over 142 million shares at one point in 2014. Filings for the fourth quarter of 2025 show that the fund owns over 70 million shares in the company, the same as in the previous quarter. CVR engages in renewable fuels and petroleum refining and marketing, and nitrogen fertilizer manufacturing activities in the United States. It refines and markets transportation fuels, such as gasoline, diesel, jet fuel, and distillates, and includes crude gathering and logistics activities that support refinery operations.

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CVR Energy, Inc. (NYSE:CVI) owns CVR Partners. This is a major driver of institutional interest in the stock. The fertilizer segment reported a 103% ammonia utilization rate in Q1 2026, with net income surging to $50 million, up from $27 million the previous year. Hedge funds see this as a high-margin offset to the volatility in the refining business. While CVR Energy reported a net loss in Q1 2026 due to unrealized derivative charges, management highlighted that they have roughly $447 million in locked-in value from NYMEX crack spread swaps that will be realized through 2027. Analysts forecast a full-year 2026 EPS of $1.53.

While we acknowledge the risk and potential of CVI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CVI and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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