Kensico Capital

Q1 2024 13F · by Michael Lowenstein, founder

As of: Mar 31, 2024
Filed: May 15, 2024
US stock: $3.0B · prev $2.6B
Positions: 23 · prev 22
Options notional: $0
Documents: 1· no amendments

Picture99.7% US stock

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

US stock listed on a US exchange 99.7%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.3%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves24 since the prior filing

+4.5 pp in · −4.5 pp out

New 2 +1.51 pp
Added 3 +2.95 pp
Trimmed 18 −4.20 pp
Exited 1 −0.26 pp

The book

Concentrated · behaves like 15 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 14% a year, about 7.3 years per position

Low
Moderate
High

Top 5 positions45% of US stock

HWM Howmet Aerospace Inc. trimmed+1.05 pp trimmed+1.0512.7%
FICO Fair Isaac Corporation trimmed−1.09 pp trimmed−1.0910.4%
V VISA Inc. trimmed−0.68 pp trimmed−0.688.1%
MSFT Microsoft Corp trimmed−0.24 pp trimmed−0.247.3%
CRM Salesforce, Inc. added+0.90 pp added+0.906.8%

Positions23 in this filing · 1 exited


HWMHowmet Aerospace Inc.	12.74%	5,640,700	$386M	trimmed−1%	+1.05 pp	26 q
FICOFair Isaac Corporation	10.41%	252,460	$315M	trimmed−3%	−1.09 pp	11 q
VVISA Inc.	8.10%	878,700	$245M	trimmed−1%	−0.68 pp	44 q
MSFTMicrosoft Corp	7.26%	522,500	$220M	trimmed−1%	−0.24 pp	43 q
CRMSalesforce, Inc.	6.78%	681,800	$205M	added+16%	+0.90 pp	5 q
EFXEquifax, Incorporated	6.39%	723,200	$193M	trimmed−10%	−1.12 pp	6 q
FISVFiserv, Inc.	6.19%	1,173,200	$188M	added+9%	+0.76 pp	8 q
BCBrunswick Corporation	5.70%	1,788,400	$173M	trimmed−1%	−0.94 pp	16 q
APPApplovin Corporation Class A	4.91%	2,149,700	$149M	trimmed−1%	+1.62 pp	8 q
GOOGLAlphabet Inc. Class A	4.57%	917,600	$138M	trimmed−19%	−1.40 pp	5 q
PGRProgressive Corporation	4.12%	603,200	$125M	trimmed−1%	+0.43 pp	4 q
ICEIntercontinental Exchange Inc.	3.87%	853,100	$117M	trimmed−1%	−0.34 pp	7 q
LNGCheniere Energy Inc	3.73%	699,700	$113M	trimmed−1%	−0.86 pp	44 q
METAMeta Platforms, Inc. Class A	3.19%	199,000	$97M	trimmed−1%	+0.49 pp	2 q
AMZNAmazon.Com Inc	3.01%	505,000	$91M	trimmed−1%	+0.06 pp	3 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	2.38%	529,800	$72M	added+92%	+1.29 pp	2 q
SWKStanley Black & Decker, Inc.	1.95%	602,700	$59M	trimmed−1%	−0.32 pp	4 q
DXCMDexCom, Inc.	1.36%	297,600	$41M	trimmed−1%	−0.06 pp	2 q
CNMCore & Main, Inc.	1.21%	641,300	$37M	new	+1.21 pp	new
INTCIntel Corp	1.11%	759,800	$34M	trimmed−24%	−0.78 pp	3 q
NPWRNET Power Inc.	0.69%	1,826,600	$21M	trimmed−1%	−0.02 pp	4 q
CORZCore Scientific, Inc.	0.30%	2,527,399	$9M	new	+0.30 pp	new
NPWR.WSNET Power Inc. Redeemable warrants, each whole warrant exercisable for one share of Class A at an exercise price of $11.50	0.05%	541,900	$2M	trimmed−1%	0.00 pp	4 q
AMPSAltus Power, Inc.	—	−1,015,200	—	exited	−0.26 pp	—

Other 13(f) securities

Options 0

None in this filing

Notes 1

Issue	% of notes	Principal	Value
Core Scientific Inc	100.00%	10,797,341	$10M

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0000950123-24-005608
Options: none in this filing
SEC cross-check: SEC data set not published yet

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