Billionaire Carl Icahn’s Top 10 Stocks

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1. Icahn Enterprises LP Common Stock (NASDAQ:IEP)

Icahn Capital LP’s Equity Stake: $6.69 billion

Number of Hedge Fund Holders: 3

Icahn Enterprises LP Common Stock (NASDAQ:IEP) is Carl Icahn’s largest holding. It operates as an Investment Company in the energy, automotive, food, packaging, real estate, home fashion, and Pharmaceutical business. The company’s investment segment invests capital in various private investment funds.

After announcing plans to sell up to $400 million in depository units through an at-the-market offering, the company has come under pressure. The company says it plans to raise the financing to fund potential acquisitions and for company purposes.

Icahn Enterprises LP Common Stock (NASDAQ:IEP) continues to clash with short-seller Hindenburg Research, which has previously accused Icahn of operating a scheme similar to a Ponzi scheme by overvaluing its assets to fund dividends. Hindenburg also questioned Icahn’s practice of margin borrowing.

On the other hand, the investment firm delivered mixed second-quarter results, having experienced a decline in its net asset value and mixed results in various industries. The company delivered a net loss of $331 million and saw its net asset value decrease by $969 million during this period, and the energy sector saw its EBITDA drop to $46 million.

Despite the mixed results, Icahn Enterprises LP Common Stock (NASDAQ:IEP) is still optimistic about its future performance and the possibility of increasing profits in its service sector.

Amid the disappointment, Icahn Enterprises LP Common Stock (NASDAQ:IEP) continues to reward investors with a 28.90% dividend yield while trading at a price-to-earnings multiple of 28, above the energy sector’s P/E of 13.

As of the end of the second quarter of 2024, just three hedge funds had stakes in Icahn Enterprises LP Common Stock (NASDAQ:IEP). Carl Icahn’s Icahn Capital LP remains the most prominent holder, with stakes worth $6.70 billion.

Billionaire Icahn’s top 10 stocks offer insights on some of the top stock picks in various sectors, ideal for any investor looking to diversify their investment portfolio. However, given that the artificial intelligence arms race is just but starting, there are under-the-radar AI stocks trading at highly discounted valuations that hold greater promise for anyone looking to diversify their portfolio. If you are looking for an AI stock that is more promising than the top activist investment plays, check out our report about the cheapest AI stock.

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