Billionaire Carl Icahn’s Top 10 Stocks

5. CVR Partners, LP (NYSE:UAN)

Icahn Capital LP’s Equity Stake: $294.47 Million

Number of Hedge Fund Holders: 4

CVR Partners, LP (NYSE:UAN) is a basic materials company that produces and sells nitrogen fertilizer. It is one of billionaire Icahn’s top 10 stocks specializing in offering ammonia products for agricultural and industrial customers.

Billionaire investor Icahn acquired stakes in the basic materials company in the first quarter as he sought to take advantage of the company’s high dividend yield of 10.07%. Additionally, CVR Partners, LP (NYSE:UAN) appears fairly valued while trading at an earnings multiple of 14.

The company delivered strong results for the second quarter of 2024, recording a net income of $26 million, or $2.48 per unit, and an EBITDA of $54 million from sales of $133 million. The company increased its combined ammonia production to 102%, producing 221,000 tons of ammonia and 337,000 tons of UAN.

CVR Partners, LP (NYSE:UAN) is well positioned to deliver better-than-expected results for the rest of the year, going by the strong demand for nitrogen fertilizer at prices higher than 2023. Therefore, it should generate more free cash flow to continue rewarding its investors with higher dividend payouts.

By the end of this year’s second quarter, four of the 912 hedge funds part of Insider Monkey’s database had invested in CVR Partners, LP (NYSE:UAN). The firm’s largest shareholder is Carl Icahn’s Icahn Capital LP, with a $294.47 million stake.