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KCM

Kensico Capital Management Portfolio holdings

AUM $5.83B
1-Year Est. Return 42.34%
This Fund
S&P 500
This Quarter Est. Return
+0.19%
1 Year Est. Return
+42.34%
3 Year Est. Return
+303.73%
5 Year Est. Return
+408.08%
10 Year Est. Return
+1,200.7%
AUM
$5.88B
AUM Growth
-$607M
Cap. Flow
-$557M
Cap. Flow %
-9.47%
Top 10 Hldgs %
89.71%
Holding
28
New
5
Increased
5
Reduced
10
Closed
6

Top Buys

Rank Stock Value
1
SPOT icon
Spotify
SPOT
+$85.6M
2
SE icon
Sea Limited
SE
+$83M
3
SYK icon
Stryker
SYK
+$44.3M
4
DLTR icon
Dollar Tree
DLTR
+$32.4M
5
TW icon
Tradeweb Markets
TW
+$28.6M

Top Sells

Rank Stock Value
1
FISV
Fiserv Inc
FISV
+$204M
2
META icon
Meta Platforms (Facebook)
META
+$177M
3
EFX icon
Equifax
EFX
+$115M
4
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$110M
5
RBA icon
RB Global
RBA
+$62M

Sector Composition

Rank Sector Weight
1 Communication Services 44.49%
2 Industrials 19.1%
3 Technology 11.56%
4 Financials 11.15%
5 Consumer Discretionary 9.9%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
APP icon
1
Applovin
APP
$106B
$2.1B 35.71%
3,118,500
– –
HWM icon
2
Howmet Aerospace
HWM
$106B
$1.08B 18.34%
5,264,500
– –
FICO icon
3
Fair Isaac
FICO
$24.9B
$517M 8.78%
305,680
-19,200
-6% -$33.1M
GOOGL icon
4
Alphabet (Google) Class A
GOOGL
$4.24T
$437M 7.43%
1,397,600
-385,900
-22% -$110M
V icon
5
Visa
V
$712B
$272M 4.61%
774,200
-43,930
-5% -$15M
SE icon
6
Sea Limited
SE
$73.1B
$240M 4.08%
1,880,400
+560,400
+42% +$83M
AMZN icon
7
Amazon
AMZN
$2.87T
$237M 4.03%
1,028,000
+49,900
+5% +$11.4M
MSFT icon
8
Microsoft
MSFT
$3.81T
$164M 2.78%
338,600
-11,100
-3% -$5.56M
ICE icon
9
Intercontinental Exchange
ICE
$91.1B
$119M 2.02%
732,400
-81,900
-10% -$12.8M
PGR icon
10
Progressive
PGR
$127B
$114M 1.93%
498,500
+104,700
+27% +$23.6M
HLT icon
11
Hilton Worldwide
HLT
$72.4B
$94.7M 1.61%
329,700
-12,300
-4% -$3.35M
LNG icon
12
Cheniere Energy
LNG
$58.3B
$82.6M 1.4%
424,900
-274,800
-39% -$57.7M
SPOT icon
13
Spotify
SPOT
$113B
$79.5M 1.35%
+136,900
New +$85.6M
TW icon
14
Tradeweb Markets
TW
$23B
$78.3M 1.33%
728,100
+266,100
+58% +$28.6M
CSGP icon
15
CoStar Group
CSGP
$13.1B
$60.6M 1.03%
901,600
-380,800
-30% -$27M
RYAN icon
16
Ryan Specialty Holdings
RYAN
$11.2B
$49.5M 0.84%
959,500
+348,500
+57% +$19.1M
RBA icon
17
RB Global
RBA
$15.9B
$44.6M 0.76%
433,900
-610,100
-58% -$62M
SYK icon
18
Stryker
SYK
$127B
$42.7M 0.73%
+121,500
New +$44.3M
DLTR icon
19
Dollar Tree
DLTR
$24.1B
$37.2M 0.63%
+302,800
New +$32.4M
SPGI icon
20
S&P Global
SPGI
$131B
$24.7M 0.42%
+47,300
New +$23.4M
BC icon
21
Brunswick
BC
$4.97B
$10.7M 0.18%
+144,600
New +$9.8M
NPWR.WS icon
22
NET Power Inc Warrants
NPWR.WS
$25.4M
$233K ﹤0.01%
465,200
-17,200
-4% -$15.1K
BRO icon
23
Brown & Brown
BRO
$24.5B
– –
-252,000
Closed -$23.6M
CASY icon
24
Casey's General Stores
CASY
$28B
– –
-27,000
Closed -$15.3M
CRM icon
25
Salesforce
CRM
$211B
– –
-235,600
Closed -$55.8M
1
2

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Kensico Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, Kensico Capital Management held 28 positions worth $5.88B, down 9.3% from $6.49B the previous quarter. Its ten largest holdings account for 90% of the portfolio.

Kensico Capital Management withdrew a net $557M in Q4 2025, closing 6 positions and reducing 10 holdings. Its most notable exit was Fiserv Inc, an estimated $204M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 44% of assets, up from 44% a quarter earlier, followed by Industrials and Technology.

Against the trend, Kensico Capital Management opened a new position in Spotify worth $79.5M.

  • Kensico Capital Management's largest Q4 2025 buy was Spotify: 136,900 shares worth $79.5M.
  • Kensico Capital Management added most to Sea Limited in Q4 2025, an estimated $83M increase.
  • Kensico Capital Management's biggest Q4 2025 reduction was Alphabet (Google) Class A, cutting an estimated $110M.
  • Kensico Capital Management fully exited Fiserv Inc in Q4 2025, selling an estimated $204M.
  • Kensico Capital Management's ten largest holdings make up 90% of its $5.88B portfolio in Q4 2025.
  • Kensico Capital Management opened 5 new positions and closed 6 in Q4 2025.
  • Kensico Capital Management's portfolio value fell 9.3% quarter-over-quarter to $5.88B.

Based on Kensico Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.