Kensico Capital

Q2 2024 13F · by Michael Lowenstein, founder

As of: Jun 30, 2024
Filed: Aug 14, 2024
US stock: $3.2B · prev $3.0B
Positions: 24 · prev 23
Options notional: $0
Documents: 1· no amendments

Picture99.5% US stock

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

US stock listed on a US exchange 99.5%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.5%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves28 since the prior filing

+13.3 pp in · −13.4 pp out

New 6 +8.76 pp
Added 4 +4.53 pp
Trimmed 13 −7.49 pp
Exited 5 −5.93 pp

The book

Concentrated · behaves like 15 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 47% a year, about 2.1 years per position

Low
Moderate
High

Top 5 positions46% of US stock

Positions24 in this filing · 5 exited


HWMHowmet Aerospace Inc.	13.60%	5,595,100	$434M	trimmed−1%	+0.86 pp	27 q
FICOFair Isaac Corporation	11.65%	250,110	$372M	trimmed−1%	+1.24 pp	12 q
MSFTMicrosoft Corp	7.24%	517,600	$231M	trimmed−1%	−0.02 pp	44 q
VVISA Inc.	7.15%	870,600	$229M	trimmed−1%	−0.95 pp	45 q
METAMeta Platforms, Inc. Class A	6.04%	383,000	$193M	added+92%	+2.85 pp	3 q
EFXEquifax, Incorporated	5.90%	777,500	$189M	added+8%	−0.49 pp	7 q
APPApplovin Corporation Class A	5.47%	2,101,800	$175M	trimmed−2%	+0.56 pp	9 q
FISVFiserv, Inc.	5.31%	1,137,400	$170M	trimmed−3%	−0.88 pp	9 q
GOOGLAlphabet Inc. Class A	4.81%	843,500	$154M	trimmed−8%	+0.24 pp	6 q
CRMSalesforce, Inc.	4.01%	498,400	$128M	trimmed−27%	−2.77 pp	6 q
AMZNAmazon.Com Inc	3.85%	636,900	$123M	added+26%	+0.84 pp	4 q
LNGCheniere Energy Inc	3.83%	699,700	$122M	held	—	45 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	3.71%	682,500	$119M	added+29%	+1.33 pp	3 q
ICEIntercontinental Exchange Inc.	3.54%	827,100	$113M	trimmed−3%	−0.33 pp	8 q
UBERUber Technologies, Inc.	2.90%	1,274,800	$93M	new	+2.90 pp	new
PGRProgressive Corporation	2.60%	399,500	$83M	trimmed−34%	−1.52 pp	5 q
MCKMcKesson Corporation	2.11%	115,400	$67M	new	+2.11 pp	new
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	1.98%	124,100	$63M	new	+1.98 pp	new
BCBrunswick Corporation	1.93%	846,000	$62M	trimmed−53%	−3.77 pp	17 q
AAPLApple Inc.	1.02%	155,000	$33M	new	+1.02 pp	new
FWONKLiberty Media Corporation Series C	0.72%	321,000	$23M	new	+0.72 pp	new
NPWRNET Power Inc.	0.55%	1,778,346	$17M	trimmed−3%	−0.14 pp	5 q
NPWR.WSNET Power Inc. Redeemable warrants, each whole warrant exercisable for one share of Class A at an exercise price of $11.50	0.04%	535,075	$1M	trimmed−1%	−0.01 pp	5 q
LOARLoar Holdings Inc.	0.03%	19,400	$1M	new	+0.03 pp	new
SWKStanley Black & Decker, Inc.	—	−602,700	—	exited	−1.95 pp	—
DXCMDexCom, Inc.	—	−297,600	—	exited	−1.36 pp	—
CNMCore & Main, Inc.	—	−641,300	—	exited	−1.21 pp	—
INTCIntel Corp	—	−759,800	—	exited	−1.11 pp	—
CORZCore Scientific, Inc.	—	−2,527,399	—	exited	−0.30 pp	—