Billionaire Carl Icahn’s Top 10 Stocks

2. CVR Energy Inc. (NYSE:CVI)

Icahn Capital LP’s Equity Stake: $1.78 Billion

Number of Hedge Fund Holders: 15

CVR Energy, Inc. (NYSE:CVI) is the second biggest holding in Carl Icahn’s portfolio, offering exposure in the energy sector, especially in the petroleum refining and marketing business. The company refines and supplies gasoline, crude oil, distillate, diesel fuel, and other refined products. It also operates an E-Nitrogen Fertilizer segment that owns and operates a nitrogen fertilizer plant in North America.

Icahn controls about 66% of the company’s shares, affirming his strong bet in the energy sector. CVR Energy, Inc. (NYSE:CVI) has sought to strengthen its prospects in the refining business by submitting an offer for the purchase of the parent company of Venezuela-owned Citgo Petroleum.

The company delivered disappointing second-quarter financial results, with net income attributable to shareholders dropping to $21 million or 21 cents a share from $130 million or 1.29 a share delivered the same quarter last year.

The disappointing results were attributable to lower refining margins due to a decrease in the Group 3 2-1-1 crack spread and reduced throughputs related to a fire at the Wynnewood refinery during severe weather.

According to Insider Monkey’s second-quarter database, 15 hedge funds were bullish on CVR Energy, Inc. (NYSE:CVI), compared to 20 funds in the prior quarter. Carl Icahn’s Icahn Capital LP is the largest stakeholder of the company.