Kensico Capital

Q1 2023 13F · by Michael Lowenstein, founder

As of: Mar 31, 2023
Filed: May 15, 2023
US stock: $2.2B · prev $2.1B
Positions: 28 · prev 31
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%

Moves38 since the prior filing

+23.9 pp in · −24.0 pp out

New 7 +18.97 pp
Added 6 +4.97 pp
Trimmed 15 −5.31 pp
Exited 10 −18.65 pp

The book

Concentrated · behaves like 16 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

High turnover · 96% a year, about 1.1 years per position

Low
Moderate
High

Top 5 positions45% of US stock

HWM Howmet Aerospace Inc. trimmed−1.95 pp trimmed−1.9511.6%
V VISA Inc. trimmed−0.14 pp trimmed−0.149.7%
FICO Fair Isaac Corporation trimmed+0.42 pp trimmed+0.428.8%
BC Brunswick Corporation trimmed+0.25 pp trimmed+0.257.7%
UNH UNITEDHEALTH GROUP INCORPORATED (Delaware) added−0.63 pp added−0.637.5%

Positions28 in this filing · 10 exited


HWMHowmet Aerospace Inc.	11.61%	6,148,600	$261M	trimmed−15%	−1.95 pp	22 q
VVISA Inc.	9.67%	962,300	$217M	trimmed−3%	−0.14 pp	40 q
FICOFair Isaac Corporation	8.81%	281,273	$198M	trimmed−4%	+0.42 pp	7 q
BCBrunswick Corporation	7.69%	2,104,933	$173M	trimmed−3%	+0.25 pp	12 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	7.54%	358,100	$169M	added+11%	−0.63 pp	9 q
MSFTMicrosoft Corp	6.13%	477,200	$138M	trimmed−3%	+0.52 pp	39 q
LNGCheniere Energy Inc	5.38%	766,100	$121M	trimmed−3%	−0.26 pp	40 q
CRMSalesforce, Inc.	5.11%	574,000	$115M	new	+5.11 pp	new
ICEIntercontinental Exchange Inc.	4.34%	934,000	$97M	trimmed−15%	−1.02 pp	3 q
PYPLPayPal Holdings, Inc.	4.34%	1,282,300	$97M	new	+4.34 pp	new
FISVFiserv, Inc.	3.50%	695,700	$79M	added+54%	+1.33 pp	4 q
GOOGLAlphabet Inc. Class A	3.42%	739,500	$77M	new	+3.42 pp	new
ROGRogers Corporation	3.26%	447,500	$73M	added+7%	+0.88 pp	2 q
EFXEquifax, Incorporated	3.25%	360,000	$73M	added×2.0	+1.60 pp	2 q
IQVIQVIA Holdings Inc.	3.05%	344,400	$68M	trimmed−28%	−1.60 pp	13 q
ATIATI Inc.	2.52%	1,430,300	$56M	added+80%	+1.39 pp	3 q
WWDWoodward, Inc.	2.32%	535,000	$52M	new	+2.32 pp	new
THCTenet Healthcare Corporation New	1.71%	647,000	$38M	new	+1.71 pp	new
APPApplovin Corporation Class A	1.15%	1,634,500	$26M	added+10%	+0.40 pp	4 q
AZOAutoZone, Inc.	1.15%	10,500	$26M	new	+1.15 pp	new
TDYTeledyne Technologies Incorporated	1.14%	57,400	$26M	trimmed−13%	−0.12 pp	2 q
unresolvedRice Acquisition Corp II	1.07%	2,335,000	$24M	trimmed−3%	−0.10 pp	5 q
CHXChampionX Corporation	0.92%	763,800	$21M	new	+0.92 pp	new
LPGDorian Lpg Ltd	0.36%	408,700	$8M	trimmed−76%	−1.20 pp	36 q
AMPSAltus Power, Inc.	0.27%	1,096,800	$6M	trimmed−3%	−0.08 pp	6 q
unresolvedAfternext Healthtech Acquisition Corp	0.23%	506,400	$5M	trimmed−5%	−0.03 pp	6 q
unresolvedRice Acquisition Corp II	0.04%	593,300	$869,066	trimmed−5%	0.00 pp	5 q
unresolvedAfternext Healthtech Acquisi	0.00%	158,167	$26,351	trimmed−5%	0.00 pp	5 q
SEESealed Air Corp New	—	−2,543,000	—	exited	−6.05 pp	—
CIThe Cigna Group	—	−218,600	—	exited	−3.46 pp	—
SLBSLB Limited	—	−1,083,700	—	exited	−2.77 pp	—
NEENextEra Energy, Inc.	—	−469,900	—	exited	−1.88 pp	—
BURLBurlington Stores, Inc.	—	−139,100	—	exited	−1.35 pp	—
ILMNIllumina Inc	—	−115,100	—	exited	−1.11 pp	—
unresolvedMsd Acquisition Corp	—	−2,139,500	—	exited	−1.03 pp	—
ETRNEquitrans Midstream Corporation	—	−2,264,100	—	exited	−0.72 pp	—
PPLIPeople Incorporated	—	−134,300	—	exited	−0.28 pp	—
unresolvedMsd Acquisition Corp	—	−400,000	—	exited	0.00 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 4 unresolved
Accession: 0000950123-23-005257
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet

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