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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q2 | Aug 7, 2024 | Icahn Enterprises L.P. | - | - | CVI, UAN, VKSC | Automotive, earnings, energy, Fertilizers, Refiners | CVR Energy operates petroleum refining operations with Q2 2024 throughput of approximately 186,000 barrels per day. Refining margins compressed to $10.94 per barrel from $18.21 in the prior year quarter, reflecting challenging industry conditions. | View | |
| 2025 Q2 | Aug 4, 2025 | Icahn Enterprises L.P. | -0.5% | -8.8% | CVI, UAN, VKSC | Automotive, energy, Fertilizers, Investment, real estate, Refining | CVR Energy operates petroleum refining and renewables businesses through CVR Refining. Q2 2025 refining margin was $2.21 per throughput barrel compared to $10.94 in Q2 2024, negatively impacted by mark-to-market RINS pricing and reduced throughput following planned turnaround. | View | |
| 2024 Q1 | May 8, 2024 | Icahn Enterprises L.P. | - | - | CVI, UAN, VKSC | Automotive, Diversified, energy, Fertilizers, Refiners | CVR Energy operates petroleum refining operations with Q1 2024 refining margin of $16.29 per throughput barrel, down from $23.24 in Q1 2023. The company processed approximately 196,000 barrels per day of total throughput in the quarter. | View | |
| 2026 Q1 | May 6, 2026 | Icahn Enterprises L.P. | -8.2% | -8.2% | AEP, CTRI, CVI, CZR, IFF, SATS, UAN | Automotive, energy, Fertilizers, Investment, real estate, Refining, Utilities | View | ||
| 2025 Q1 | Mar 31, 2025 | Icahn Enterprises L.P. | - | - | CVI, UAN, VKSC | Automotive, energy, Fertilizers, Investment, real estate, Refining | CVR Energy operates petroleum refining and renewable diesel businesses. Q1 2025 refining margin was negative $0.42 per barrel compared to positive $16.29 in Q1 2024, impacted by Coffeyville refinery turnaround. Renewable diesel margins improved to $1.13 per gallon from $0.65 in prior year. | View | |
| 2025 Q4 | Feb 25, 2026 | Icahn Enterprises L.P. | - | - | CVI, UAN, VKSC | Automotive, Conglomerate, energy, Investment, real estate, Refining | CVR Energy operates petroleum refining, renewables, and nitrogen fertilizer manufacturing businesses. Refining margins remained stable at $8.35 per barrel in Q4 2025. Renewable diesel margins compressed to $0.25 per gallon from $0.79 in Q4 2024. The automotive services business faced revenue decline and margin compression. Successfully completed transfer of owned real estate properties to the Real Estate segment and entered into fair market value operating leases. Real Estate segment benefited from property transfers from the Automotive segment, including assumption of tenant operating leases. The segment includes investment properties with land, retail, office and industrial properties leased to corporate tenants. | View | |
| 2024 Q3 | Nov 8, 2024 | Icahn Enterprises L.P. | - | - | CVI, UAN, VKSC | Automotive, energy, Fertilizer, Investment, real estate, Refining | CVR Energy's refining operations faced significant margin compression with Q3 2024 refining margin of $2.53 per barrel compared to $31.05 in Q3 2023. The company processed approximately 189,000 barrels per day of total throughput during the quarter. | View | |
| 2025 Q3 | Nov 5, 2025 | Icahn Enterprises L.P. | - | - | CVI, UAN, VKSC | asset value, Automotive, Conglomerate, energy, real estate, Refining | CVR Energy delivered strong Q3 2025 results with consolidated Adjusted EBITDA increasing by $660 million to $625 million compared to a loss of $35 million in Q3 2024. The petroleum refining business benefited from EPA small refinery hardship relief and higher throughput, achieving refining margins of $35.65 per barrel versus $2.53 in Q3 2024. The renewables business processed approximately 208,000 gallons per day of vegetable oil throughput. | View | |
| 2023 Q1 | Oct 5, 2023 | Icahn Enterprises L.P. | - | - | CVI, UAN, VKSC | Automotive, energy, Fertilizers, Investment, real estate, Refiners | CVR Energy operates petroleum refining and nitrogen fertilizer manufacturing businesses. The refining segment processed approximately 196,000 barrels per day with refining margins of $23.24 per throughput barrel in Q1 2023, compared to $16.75 in Q1 2022. Net sales decreased by $87 million year-over-year but Adjusted EBITDA increased significantly. | View | |
| 2022 Q1 | Jun 5, 2022 | Icahn Enterprises L.P. | - | - | CVI, UAN, VKSC | - | View | ||
| 2022 Q2 | May 8, 2022 | Icahn Enterprises L.P. | - | - | CVI, UAN, VKSC | - | View | ||
| 2022 Q3 | Apr 11, 2022 | Icahn Enterprises L.P. | - | - | CVI, UAN, VKSC | - | View | ||
| 2023 Q2 | Apr 8, 2023 | Icahn Enterprises L.P. | - | - | CVI, UAN, VKSC | Automotive, energy, Fertilizers, Investment, real estate, Refiners | CVR Energy operates petroleum refining operations with approximately 201,000 barrels per day throughput in Q2 2023. Refining margins decreased to $18.21 per throughput barrel compared to $26.10 in Q2 2022. Net sales decreased by $907 million year-over-year due to lower margins and market conditions. | View | |
| 2023 Q3 | Mar 11, 2023 | Icahn Enterprises L.P. | - | - | CVI, UAN | Automotive, dividends, energy, Fertilizer, Investment, real estate, Refining | CVR Energy's petroleum refining operations showed strong performance with refining margins of $31.05 per barrel in Q3 2023 versus $16.56 in Q3 2022. The company processed approximately 212,000 barrels per day and declared both regular and special dividends. | View | |
| 2023 Q4 | Feb 28, 2023 | Icahn Enterprises L.P. | - | - | CVI, UAN, VKSC | Automotive, energy, Fertilizer, Investment, real estate, Refining | CVR Energy operates petroleum refining and nitrogen fertilizer manufacturing through CVR Refining and CVR Partners. Q4 2023 refining margin was $15.01 per throughput barrel with approximately 223,000 barrels per day processed. The company issued $600 million in 8.50% senior notes to refinance existing debt. | View | |
| 2024 Q4 | Feb 26, 2024 | Icahn Enterprises L.P. | - | - | CVI, UAN | Automotive, energy, Fertilizers, Investment, real estate, Refiners | CVR Energy operates petroleum refining and renewables businesses with Q4 2024 refining margins of $8.37 per barrel versus $15.01 in Q4 2023. The renewables segment processed 187,000 gallons per day of vegetable oil with positive margins of $0.79 per gallon compared to losses in the prior year. | View | |
| 2022 Q4 | Feb 24, 2022 | Icahn Enterprises L.P. | - | - | CVI, UAN, VKSC | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| No pitches found. | |||||||||
| Manager Name | Fund Name | Fund AUM | Invested Value | Portfolio Weight | Shares Owned | Shares Bought / Sold During Quarter | % Bought / Sold During Quarter | % of Shares Outstanding Owned |
|---|---|---|---|---|---|---|---|---|
| No investor data available. | ||||||||