The 23-year-Austrian, who won her maiden World Cup race in Lienz exactly a year ago, clocked a combined time of two minutes 13.09 seconds.
The super-combined world champion beat World Cup leader Tina Maze by 1.10 seconds while France's Tessa Worely was third, a further 0.08 of a second adrift.
It was Maze's 10th top three placing of the season and the Slovenian again increased the gap in the overall World Cup standings. She now leads second-placed Maria Hoefl-Riesch of Germany by 417 points.
"It was like dancing on the snow," said Fenninger of her immaculate performance in the closest ski resort to the Austrian capital Vienna.
A slalom is taking place on the same course on Saturday. (Reporting by Manuele Lang; Editing by John Mehaffey)
- Sports & Recreation