Carl Icahn is one of the most successful investors in the world. According to Forbes, Icahn’s net worth stands at over $17 billion. Carl Icahn’s hedge fund Icahn Capital LP returned 2.1% last year. In this article we will take a look at Icahn’s favorite stocks by assessing his holdings as of the end of the second quarter of 2018. Icahn Capital LP managed over $24.14 billion in the second quarter.
Newell Brands Inc (NYSE:NWL)
Newell Brands Inc (NYSE:NWL) is one of the favorite stocks of billionaire Carl Icahn. As of the end of the second quarter, Icahn Capital LP owned over 38.30 million shares of the company. The fund increased its hold in the stock by 15% in the quarter. The Rubbermaid parent’s stock recently surged higher after the company reported better than expected earnings and also upped its full-year outlook. Newell is currently undergoing a major transformation plan that was announced earlier this year. The company has now started to see a major improvement in its margins and operating cash flow. Wells Fargo’s analyst Bonnie Herzog recently said that all the concerns around Newell stock are overblown. The analyst gave a $33 price target for Newell.
Energen Corporation (NYSE:EGN)
Energen Corporation (NYSE:EGN) is an Alabama-based oil and gas exploration company. Carl Icahn amassed 5.19 million new shares of Energen in the second quarter of 2018. Energen recently reported quarterly results that show a strong financial base of the company. Energen reported $0.96 earnings per share, above the Zacks Consensus Estimate of $0.85. Revenue in the third quarter came in at $381 million, above $249.1 million in the year-ago quarter.
VMware, Inc. (NYSE:VMW)
As of the end of the second quarter, Carl Icahn owns over 2.27 million shares of Vmware.VMware, Inc. (NYSE:VMW) is a subsidiary of Dell Technologies that provides Cloud-based solutions. Carl Icahn recently sued Dell, claiming that the company allegedly withheld key financial information related to a planned deal with VMware.
Tenneco Inc (NYSE:TEN)
Tenneco Inc (NYSE:TEN) is an Illinois-based company that manufactures automotive emission control and ride control products and systems. Given the growth prospects in the emissions control market, Tenneco stock is expected to rise in 2019. Perhaps that’s why Carl Icahn acquired 5.65 million shares of the company. Tenneco recently reported EPS of $1.70 for the third quarter, better than the Zacks Consensus Estimate of $1.50.
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Author does not have investment in stock discussed in this article.