Kensico Capital

Q1 2022 13F · by Michael Lowenstein, founder

As of: Mar 31, 2022
Filed: May 16, 2022
US stock: $2.5B · prev $3.4B
Positions: 36 · prev 34
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves43 since the prior filing

+13.0 pp in · −13.3 pp out

New 12 +7.50 pp
Added 7 +5.53 pp
Trimmed 14 −3.08 pp
Exited 10 −10.23 pp

The book

Concentrated · behaves like 16 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 50% a year, about 2.0 years per position

Low
Moderate
High

Top 5 positions44% of US stock

Positions36 in this filing · 10 exited


HWMHowmet Aerospace Inc.	10.69%	7,319,300	$263M	trimmed−32%	+0.48 pp	18 q
VVISA Inc.	9.49%	1,053,500	$234M	trimmed−41%	−2.06 pp	36 q
SEESealed Air Corp New	8.98%	3,299,500	$221M	trimmed−21%	+0.57 pp	18 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	7.86%	379,400	$193M	trimmed−8%	+1.72 pp	5 q
MSFTMicrosoft Corp	6.54%	522,300	$161M	trimmed−46%	−3.18 pp	35 q
METAMeta Platforms, Inc. Class A	6.44%	713,100	$159M	added+2%	−0.58 pp	9 q
IQVIQVIA Holdings Inc.	5.94%	632,300	$146M	trimmed−10%	+0.06 pp	9 q
GOOGLAlphabet Inc. Class A	5.80%	51,300	$143M	trimmed−26%	−0.16 pp	6 q
BCBrunswick Corporation	5.75%	1,750,000	$142M	added+50%	+2.26 pp	8 q
FICOFair Isaac Corporation	5.57%	293,700	$137M	trimmed−5%	+1.59 pp	3 q
LNGCheniere Energy Inc	4.72%	838,600	$116M	trimmed−65%	−2.46 pp	36 q
LFGArchaea Energy Inc	3.16%	3,548,599	$78M	added+6%	+1.33 pp	3 q
PYPLPayPal Holdings, Inc.	2.97%	632,300	$73M	added×2.9	+1.73 pp	3 q
ARMKAramark	2.66%	1,739,100	$65M	trimmed−6%	+0.62 pp	29 q
LPGDorian Lpg Ltd	2.05%	3,488,240	$51M	trimmed−15%	+0.50 pp	32 q
SPGIS&P Global Inc.	1.98%	118,900	$49M	new	+1.98 pp	new
BABAAlibaba Group Holding Limited	1.24%	280,500	$31M	new	+1.24 pp	new
unresolvedRice Acquisition Corp II	1.00%	2,500,000	$25M	new	+1.00 pp	new
unresolvedMsd Acquisition Corp	0.85%	2,139,500	$21M	held	—	3 q
ETRNEquitrans Midstream Corporation	0.81%	2,361,000	$20M	trimmed−25%	−0.16 pp	14 q
PLANAnaplan, Inc.	0.80%	304,300	$20M	new	+0.80 pp	new
BILLBILL Holdings, Inc.	0.68%	74,100	$17M	trimmed−60%	−0.68 pp	2 q
XYZBlock, Inc.	0.67%	121,700	$17M	new	+0.67 pp	new
JCIJohnson Controls International plc	0.60%	225,000	$15M	new	+0.60 pp	new
ALGNAlign Technology Inc	0.58%	33,000	$14M	new	+0.58 pp	new
AMPSAltus Power, Inc.	0.58%	1,925,500	$14M	added+88%	+0.26 pp	2 q
unresolvedHumanco Acquisition Corp	0.35%	882,600	$9M	added×15.3	+0.33 pp	2 q
PSTHPershing Square Tontine Holdings, Ltd.	0.35%	437,400	$9M	trimmed−5%	+0.08 pp	7 q
RHRh	0.32%	23,800	$8M	new	+0.32 pp	new
CORZQCore Scientific Inc	0.28%	850,000	$7M	new	+0.28 pp	new
unresolvedAfternext Healthtech Acquisition Corp	0.21%	533,600	$5M	added×15.9	+0.20 pp	2 q
unresolvedRice Acquisition Corp II	0.02%	625,000	$388,000	new	+0.02 pp	new
unresolvedHumanco Acquisition Corp	0.01%	412,500	$132,000	new	+0.01 pp	new
unresolvedMsd Acquisition Corp	0.01%	400,000	$312,000	held	—	3 q
unresolvedPershing Square Tontine Hldg	0.00%	53,253	$50,000	held	—	7 q
unresolvedAfternext Healthtech Acquisi	0.00%	166,667	$70,000	new	0.00 pp	new
FISVFiserv, Inc.	—	−1,014,200	—	exited	−3.13 pp	—
8INSyneos Health, Inc. Class A	—	−786,800	—	exited	−2.40 pp	—
GEGE Aerospace	—	−356,800	—	exited	−1.00 pp	—
HUMHumana Inc.	—	−65,700	—	exited	−0.91 pp	—
AMZNAmazon.Com Inc	—	−8,450	—	exited	−0.84 pp	—
unresolvedRice Acquisition Corp II	—	−2,500,000	—	exited	−0.78 pp	—
TFXTeleflex Incorporated	—	−46,900	—	exited	−0.46 pp	—
CDEVPermian Resources Corporation	—	−1,764,300	—	exited	−0.31 pp	—
unresolvedHumanco Acquisition Corp	—	−825,000	—	exited	−0.25 pp	—
unresolvedAfternext Healthtech Acquisition Corp	—	−500,000	—	exited	−0.15 pp	—