KENSICO CAPITAL MANAGEMENT CORP

Kensico Capital Management's $5.88B Q4 2025 13F is unmistakably an AppLovin-concentrated fund — the stock still accounts for 35.7% of the portfolio at $2.10B — but the manager used the prior quarter's rally to expand the book and introduce a new aerospace and software constellation. Howmet Aerospace entered as a $1.08B new position (18.3%), Fair Isaac joined at $517M (8.8%), and Amazon, Microsoft, Spotify, and Tradeweb debuted as smaller but meaningful tech exposure. The Q/Q data is real and populated: META and Salesforce were sold outright, Visa and Cheniere were trimmed, while Ryan Specialty and CoStar received sizeable additions. The whaleScore of 75 captures the elevated absolute scale of a portfolio that is still effectively a leveraged bet on one name with a growing satellite sleeve.