Kensico Capital Management (Michael Lowenstein) latest 13F portfolio: 25 holdings worth $5.8B as of Q2 2026.
Backtested since 2020: mirroring Kensico Capital Management's reported 13F equity holdings each quarter would have returned +185.8% versus +186.7%for the S&P 500 (+18.0% annualized). See the Performance tab for the full equity curve.
Investor: Michael Lowenstein
Number of Assets: 25
Reporting Period: Q2 - 2026
Holdings at Report: $5,831,368,599
Return $ Since Report: -$754,067,589
Return % Since Report: -12.93%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| Howmet Aerospace Inc. (HWM) | Equity | 0% | 5,083,600 | 23.44% | $268.86 | $227.37 | $1,366,776,696 | $1,155,858,132 | -$210,918,564 | -15.43% |
| Intercontinental Exchange Inc. (ICE) | Equity | +19.69% | 857,700 | 1.81% | $123.11 | $155.37 | $105,591,447 | $133,260,849 | +$27,669,402 | +26.20% |
| Intel Corp. (INTC) | Equity | +16.12% | 563,200 | 1.35% | $139.63 | $121.78 | $78,639,616 | $68,586,496 | -$10,053,120 | -12.78% |
| Morningstar Inc. (MORN) | Equity | +110.44% | 284,100 | 0.76% | $156.02 | $201.47 | $44,325,282 | $57,237,627 | +$12,912,345 | +29.13% |
| Icon Public Limited Company (ICLR) | Equity | +100% | 188,000 | 0.56% | $173.71 | $169.55 | $32,657,480 | $31,875,400 | -$782,080 | -2.39% |
| Iqvia Holdings Inc. (IQV) | Equity | +100% | 165,000 | 0.55% | $193.22 | $269.88 | $31,881,300 | $44,530,200 | +$12,648,900 | +39.67% |
| Amazon.com Inc. (AMZN) | Equity | -8.77% | 978,100 | 4.00% | $238.34 | $258.45 | $233,120,354 | $252,789,945 | +$19,669,591 | +8.44% |
| Cheniere Energy Inc. (LNG) | Equity | 0% | 424,900 | 1.74% | $239.01 | $274.98 | $101,555,349 | $116,839,002 | +$15,283,653 | +15.05% |
| Hilton Worldwide Holdings Inc. (HLT) | Equity | 0% | 322,500 | 1.83% | $330.46 | $307.08 | $106,573,350 | $99,033,300 | -$7,540,050 | -7.07% |
| The Progressive Corp. (PGR) | Equity | 0% | 498,500 | 1.87% | $218.45 | $212.24 | $108,897,325 | $105,801,640 | -$3,095,685 | -2.84% |
| Taiwan Semiconductor Manufacturing Company Limited (TSM) | Equity | +100% | 179,500 | 1.47% | $477.57 | $445.14 | $85,723,815 | $79,902,630 | -$5,821,185 | -6.79% |
| Visa Inc. (V) | Equity | -0.26% | 946,600 | 5.57% | $343.09 | $369.95 | $324,768,994 | $350,194,670 | +$25,425,676 | +7.83% |
| Alphabet Inc. (GOOGL) | Equity | 0% | 1,509,500 | 9.25% | $357.37 | $354.97 | $539,450,015 | $535,827,215 | -$3,622,800 | -0.67% |
| Booking Holdings Inc. (BKNG) | Equity | +2847.34% | 576,500 | 1.76% | $178.24 | $168.52 | $102,755,360 | $97,151,780 | -$5,603,580 | -5.45% |
| Fair Isaac Corp. (FICO) | Equity | -2.99% | 373,500 | 7.65% | $1,194.78 | $924.52 | $446,250,330 | $345,308,220 | -$100,942,110 | -22.62% |
| Microsoft Corp. (MSFT) | Equity | 0% | 403,400 | 2.58% | $373.02 | $501.61 | $150,476,268 | $202,349,474 | +$51,873,206 | +34.47% |
| Sea Limited (SE) | Equity | -46.79% | 408,700 | 0.67% | $95.83 | $102.65 | $39,165,721 | $41,953,055 | +$2,787,334 | +7.12% |
| Tradeweb Markets Inc. (TW) | Equity | -0.31% | 1,004,700 | 1.72% | $99.66 | $104.45 | $100,128,402 | $104,940,915 | +$4,812,513 | +4.81% |
| Applovin Corp. (APP) | Equity | -3.09% | 3,182,850 | 28.12% | $515.23 | $330.17 | $1,639,899,806 | $1,050,881,585 | -$589,018,222 | -35.92% |
| Mckesson Corp. (MCK) | Equity | +100% | 99,680 | 1.29% | $755.60 | $886.47 | $75,318,208 | $88,363,330 | +$13,045,122 | +17.32% |
| S&P Global Inc. (SPGI) | Equity | -5.11% | 107,700 | 0.75% | $407.26 | $404.47 | $43,861,902 | $43,561,419 | -$300,483 | -0.69% |
| Toast Inc. (TOST) | Equity | +100% | 1,659,800 | 0.79% | $27.82 | $29.80 | $46,175,636 | $49,462,040 | +$3,286,404 | +7.12% |
| Vse Corp. (VSEC) | Equity | +100% | 119,600 | 0.47% | $228.50 | $180.14 | $27,328,600 | $21,544,744 | -$5,783,856 | -21.16% |
| Net Power Inc. (NPWR-WS) | Bond | -0.31% | 453,800 | N/A | $0.29 | N/A | $131,602 | N/A | N/A | N/A |
| DPC Holdings PLC | Equity | +100% | 965 | 0.00% | $49.06 | N/A | $47,343 | N/A | N/A | N/A |