Fenninger's route to securing Alpine skiing's Crystal Globe was made easier when nearest rival Maria Hoefl-Riesch secured season ending injuries in Wednesday's downhill.
And looking to confirm the title, 24-year-old Fenninger, who won gold in the Super-G at the Winter Olympics in Sochi last month, clocked a time of 1:17.75minutes to leave her as the race leader.
Gut would however deny her rival a perfect day, completing the course in 1:17.14mins to take victory by over half a second and take the Super-G title.
But with Fenninger holding a 215-point lead over Gut with two races remaining this weekend, it means the Austrian cannot be caught in the overall standings.
Russia's Tina Maze, winner of double gold in the downhill and giant slalom in Sochi, completed the podium in third.
Meanwhile in the men's event, Norway's Aksel Lund Svindal added the Super-G title to that the downhill crown won on Wednesday.
But with his 16th place giving him no points in the race for the overall title, it leaves Austria's Marcel Hirscher, who was 12th, in pole position for the remainder of the weekend.
The Super-G race itself was won by the day's final skier with giant slalom Olympic bronze medallist Alexis Pinturault posting a time of 1:13.71mins, over half a second quicker than fellow Frenchman Thomas Mermillod Blondin.
American Bode Miller rounded off the medals, just 0.01secs behind Blondin.
- Sports & Recreation