ICLN Fair Value: Look-Through Valuation
Equity Rank publishes model fair values for holdings making up 33% of ICLN, too little for a fund-level model figure (the threshold is 60%). Data as of 2026-10-22. Net assets $2.2B; holdings as of 2026-10-22.
Top 25 holdings of 112
| Holding | Weight | Price | Model fair value | Gap |
|---|---|---|---|---|
| BE Bloom Energy Corp | 10.04% | $217.77 | $201.05 | -7.7% |
| — CHINA YANGTZE POWER CO LTD CLASS A | 7.98% | — | Not covered | — |
| FSLR First Solar Inc | 6.87% | $171.25 | $162.11 | -5.3% |
| NXT Nextpower Inc. | 6.78% | $77.63 | $58.77 | -24.3% |
| ENPH Enphase Energy Inc | 4.22% | $31.35 | $19.81 | -36.8% |
| — VESTAS WIND SYSTEMS AS | 4.20% | — | Not covered | — |
| — EQUATORIAL SA | 3.58% | — | Not covered | — |
| — EDP-ENERGIAS DE PORTUGAL SA | 2.93% | — | Not covered | — |
| PLUG PLUG POWER INC | 2.54% | — | Not covered | — |
| — CHUBU ELECTRIC POWER CO INC | 2.51% | — | Not covered | — |
| SEDG SolarEdge Technologies Inc | 1.93% | — | Not covered | — |
| CWEN Clearway Energy Inc Class C | 1.83% | $31.43 | $32.36 | +3.0% |
| — ENLIGHT RENEWABLE ENERGY LTD | 1.76% | — | Not covered | — |
| — SUZLON ENERGY LTD | 1.69% | — | Not covered | — |
| — n/a | 1.59% | — | Not covered | — |
| — ORSTED AS | 1.58% | — | Not covered | — |
| — NORDEX SE AKT. NACH KAPITALHERABSETZUNG | 1.45% | — | Not covered | — |
| SHLS Shoals Technologies Group Inc | 1.33% | $7.73 | $5.07 | -34.4% |
| — DOOSAN FUEL CELL ORDINARY SHARES | 1.32% | — | Not covered | — |
| — n/a | 1.19% | — | Not covered | — |
| — n/a | 1.15% | — | Not covered | — |
| — n/a | 1.06% | — | Not covered | — |
| — SOLARIA ENERGIA Y MEDIO AMBIENTE SA | 1.04% | — | Not covered | — |
| GPRE Green Plains Renewable Energy Inc | 1.02% | $13.91 | $19.80 | +42.3% |
| — CPFL ENERGIA SA | 1.00% | — | Not covered | — |
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