Kensico Capital Management Corp.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Kensico Capital Management Corp. reported 22 stock positions worth $6.5 billion. Its top holding was AppLovin Class A (APP) at 34.5% of the portfolio, followed by Howmet Aerospace (HWM, 15.9%) and Fair Isaac (FICO, 7.5%). Compared with Q2 2025, it opened 3 new positions, sold out of 1, added to 5 and reduced 4. The biggest buy was AppLovin Class A (APP, shares +3%) and the biggest sale Equifax (EFX, shares −37%).

Most Recent 13F
Q2 2026
Location
GREENWICH, CT
CIK
0001113000
Portfolio Value
$6.5B (Q3 2025)
SEC Filing
0001193125-25-282860 ↗ filed Nov 14, 2025

Holdings Value

0$2.0B$4.0B$6.0B$8.0B Q1 2024: $3.0B Q1 2024 Q2 2024: $3.2B Q2 2024 Q3 2024: $3.8B Q3 2024 Q4 2024: $4.4B Q4 2024 Q1 2025: $4.4B Q1 2025 Q2 2025: $5.2B Q2 2025 Q3 2025: $6.5B $6.5B Q3 2025 Q4 2025: $5.9B Q4 2025 Q1 2026: $4.9B Q1 2026 Q2 2026: $5.8B Q2 2026

Holdings 22 stocks · $6.5B
APP AppLovin Corp. Class A 34.52% 3,118,500 $2.2B Add +3.1%
HWM Howmet Aerospace Inc. 15.91% 5,264,500 $1.0B No change
FICO Fair Isaac Corp. 7.49% 324,880 $486.2M Add +30.4%
GOOGL Alphabet Inc. Class A 6.68% 1,783,500 $433.6M No change
V Visa Inc. Class A 4.30% 818,130 $279.3M Reduce -3.3%
SE Sea Ltd.-ADR 3.63% 1,320,000 $235.9M Reduce -17.9%
AMZN Amazon.com Inc. 3.31% 978,100 $214.8M No change
FISV Fiserv Inc. 3.15% 1,585,000 $204.4M Add +2.5%
MSFT Microsoft Corp. 2.79% 349,700 $181.1M Reduce -1.8%
META Meta Platforms Inc. Class A 2.73% 241,700 $177.5M No change
LNG Cheniere Energy Inc. 2.53% 699,700 $164.4M No change
ICE Intercontinental Exchange Inc. 2.11% 814,300 $137.2M No change
EFX Equifax Inc. 1.78% 450,000 $115.4M Reduce -37.5%
RBA RB Global Inc. 1.74% 1,044,000 $113.1M Add +152.0%
CSGP Costar Group Inc. 1.67% 1,282,400 $108.2M No change
PGR Progressive Corp. 1.50% 393,800 $97.2M No change
HLT Hilton Worldwide Holdings Inc. 1.37% 342,000 $88.7M No change
CRM Salesforce Inc. 0.86% 235,600 $55.8M No change
TW Tradeweb Markets Inc. Class A 0.79% 462,000 $51.3M Add +109.9%
RYAN Ryan Specialty Holdings Inc. 0.53% 611,000 $34.4M New
BRO Brown & Brown Inc. 0.36% 252,000 $23.6M New
CASY Casey's General Stores Inc. 0.24% 27,000 $15.3M New
Other holdings (1): bonds, preferreds, convertibles and warrants · $362K (not counted above)
SecurityClassShares / PrincipalValueChange
NPWR.WS Rice Acquisition Corp. II-CW *W EXP 06/08/202 482,400$362KNo change

Total filed on the 13F, all lines: $6.5B.

Portfolio Sells Q2 2025 → Q3 2025
EFX Equifax Inc. Reduce -37.5% 1.78% −1.81
V Visa Inc. Class A Reduce -3.3% 4.30% −1.47
SE Sea Ltd.-ADR Reduce -17.9% 3.63% −1.31
ISRG Intuitive Surgical Inc. Sold out 0.00% −0.99
MSFT Microsoft Corp. Reduce -1.8% 2.79% −0.61

Portfolio Buys Q2 2025 → Q3 2025
APP AppLovin Corp. Class A Add +3.1% 34.52% +14.16
RBA RB Global Inc. Add +152.0% 1.74% +0.90
RYAN Ryan Specialty Holdings Inc. New 0.53% +0.53
BRO Brown & Brown Inc. New 0.36% +0.36
CASY Casey's General Stores Inc. New 0.24% +0.24
TW Tradeweb Markets Inc. Class A Add +109.9% 0.79% +0.17
FICO Fair Isaac Corp. Add +30.4% 7.49% −1.27
FISV Fiserv Inc. Add +2.5% 3.15% −1.98

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 24$5.8BAPP, HWM, GOOGL, FICO, V
Q1 2026 19$4.9BAPP, HWM, GOOGL, FICO, V
Q4 2025 21$5.9BAPP, HWM, FICO, GOOGL, V
Q3 2025 22$6.5BAPP, HWM, FICO, GOOGL, V
Q2 2025 20$5.2BAPP, HWM, FICO, GOOGL, V
Q1 2025 23$4.4BAPP, HWM, FICO, FISV, V
Q4 2024 22$4.4BAPP, HWM, FICO, FISV, V
Q3 2024 25$3.8BHWM, FICO, APP, V, FISV
Q2 2024 23$3.2BHWM, FICO, MSFT, V, META
Q1 2024 22$3.0BHWM, FICO, V, MSFT, CRM