Kensico Capital Management Corp. In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Kensico Capital Management Corp. reported 21 stock positions worth $5.9 billion . Its top holding was AppLovin Class A (APP) at 35.7% of the portfolio, followed by Howmet Aerospace (HWM, 18.3% ) and Fair Isaac (FICO, 8.8% ). Compared with Q3 2025, it opened 5 new positions, sold out of 6, added to 5 and reduced 9. The biggest buy was a new position in Spotify Technology (SPOT) and the biggest sale an exit from Fiserv (FISV).
Location GREENWICH, CT
CIK 0001113000
Portfolio Value $5.9B (Q4 2025) Holdings 21 stocks · $5.9B Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q3 2025 APP AppLovin Corp. Class A 3,118,500 $2.1B No change HWM Howmet Aerospace Inc. 5,264,500 $1.1B No change FICO Fair Isaac Corp. 305,680 $516.8M Reduce -5.9% GOOGL Alphabet Inc. Class A 1,397,600 $437.4M Reduce -21.6% V Visa Inc. Class A 774,200 $271.5M Reduce -5.4% SE Sea Ltd.-ADR 1,880,400 $239.9M Add +42.5% AMZN Amazon.com Inc. 1,028,000 $237.3M Add +5.1% MSFT Microsoft Corp. 338,600 $163.8M Reduce -3.2% ICE Intercontinental Exchange Inc. 732,400 $118.6M Reduce -10.1% PGR Progressive Corp. 498,500 $113.5M Add +26.6% HLT Hilton Worldwide Holdings Inc. 329,700 $94.7M Reduce -3.6% LNG Cheniere Energy Inc. 424,900 $82.6M Reduce -39.3% SPOT Spotify Technology SA 136,900 $79.5M New TW Tradeweb Markets Inc. Class A 728,100 $78.3M Add +57.6% CSGP Costar Group Inc. 901,600 $60.6M Reduce -29.7% RYAN Ryan Specialty Holdings Inc. 959,500 $49.5M Add +57.0% RBA RB Global Inc. 433,900 $44.6M Reduce -58.4% SYK Stryker Corp. 121,500 $42.7M New DLTR Dollar Tree Inc. 302,800 $37.2M New SPGI S&P Global Inc. 47,300 $24.7M New BC Brunswick Corp. 144,600 $10.7M New
Other holdings (1): bonds, preferreds, convertibles and warrants · $233K (not counted above) Security Class Shares / Principal Value Change NPWR.WS Rice Acquisition Corp. II-CW *W EXP 06/08/202 465,200 $233K Reduce -3.6%
Total filed on the 13F, all lines: $5.9B.
Portfolio Sells Q3 2025 → Q4 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2025 % Of Portfolio Change To Portfolio ▲ FISV Fiserv Inc. Sold out 0.00% −3.15 META Meta Platforms Inc. Class A Sold out 0.00% −2.73 EFX Equifax Inc. Sold out 0.00% −1.78 LNG Cheniere Energy Inc. Reduce -39.3% 1.40% −1.13 RBA RB Global Inc. Reduce -58.4% 0.76% −0.98 CRM Salesforce Inc. Sold out 0.00% −0.86 CSGP Costar Group Inc. Reduce -29.7% 1.03% −0.64 BRO Brown & Brown Inc. Sold out 0.00% −0.36 CASY Casey's General Stores Inc. Sold out 0.00% −0.24 ICE Intercontinental Exchange Inc. Reduce -10.1% 2.02% −0.10 MSFT Microsoft Corp. Reduce -3.2% 2.78% −0.01 HLT Hilton Worldwide Holdings Inc. Reduce -3.6% 1.61% +0.24 V Visa Inc. Class A Reduce -5.4% 4.61% +0.31 GOOGL Alphabet Inc. Class A Reduce -21.6% 7.43% +0.75 FICO Fair Isaac Corp. Reduce -5.9% 8.78% +1.29
Portfolio Buys Q3 2025 → Q4 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2025 % Of Portfolio Change To Portfolio ▼ SPOT Spotify Technology SA New 1.35% +1.35 SYK Stryker Corp. New 0.73% +0.73 AMZN Amazon.com Inc. Add +5.1% 4.03% +0.72 DLTR Dollar Tree Inc. New 0.63% +0.63 TW Tradeweb Markets Inc. Class A Add +57.6% 1.33% +0.54 SE Sea Ltd.-ADR Add +42.5% 4.08% +0.44 PGR Progressive Corp. Add +26.6% 1.93% +0.43 SPGI S&P Global Inc. New 0.42% +0.42 RYAN Ryan Specialty Holdings Inc. Add +57.0% 0.84% +0.31 BC Brunswick Corp. New 0.18% +0.18
Notes & Other Activity Q3 2025 → Q4 2025 Security Class Change vs Q3 2025 Shares / Principal Value ▼ NPWR.WS Rice Acquisition Corp. II-CW *W EXP 06/08/202 Reduce -3.6% 465,200 $233K
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 24 $5.8B APP, HWM, GOOGL, FICO, V Q1 2026 19 $4.9B APP, HWM, GOOGL, FICO, V Q4 2025 21 $5.9B APP, HWM, FICO, GOOGL, V Q3 2025 22 $6.5B APP, HWM, FICO, GOOGL, V Q2 2025 20 $5.2B APP, HWM, FICO, GOOGL, V Q1 2025 23 $4.4B APP, HWM, FICO, FISV, V Q4 2024 22 $4.4B APP, HWM, FICO, FISV, V Q3 2024 25 $3.8B HWM, FICO, APP, V, FISV Q2 2024 23 $3.2B HWM, FICO, MSFT, V, META Q1 2024 22 $3.0B HWM, FICO, V, MSFT, CRM