KENSICO CAPITAL MANAGEMENT CORP Diversified Active

CIK: 0001113000 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 17, 2026

Total Value ($000): $5,884,987 (100.0% shares, 0.0% debt)

Holdings (22)

New Positions (5)

SPOT SPOTIFY TECHNOLOGY S A 1.4%

Value ($000) $79,499 Shares 136,900 Est. Cost $625.13 Unrealized 0.0%

SYK STRYKER CORPORATION 0.7%

Value ($000) $42,704 Shares 121,500 Est. Cost $363.46 Unrealized 0.0%

DLTR DOLLAR TREE INC 0.6%

Value ($000) $37,247 Shares 302,800 Est. Cost $107.15 Unrealized 0.0%

SPGI S&P GLOBAL INC 0.4%

Value ($000) $24,719 Shares 47,300 Est. Cost $494.21 Unrealized 0.0%

BC BRUNSWICK CORP 0.2%

Value ($000) $10,735 Shares 144,600 Est. Cost $67.52 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SPOT	SPOTIFY TECHNOLOGY S A	136,900	$79,499	1.4%	$625.13	0.0%	SHS	L8681T102
SYK	STRYKER CORPORATION	121,500	$42,704	0.7%	$363.46	0.0%	COM	863667101
DLTR	DOLLAR TREE INC	302,800	$37,247	0.6%	$107.15	0.0%	COM	256746108
SPGI	S&P GLOBAL INC	47,300	$24,719	0.4%	$494.21	0.0%	COM	78409V104
BC	BRUNSWICK CORP	144,600	$10,735	0.2%	$67.52	0.0%	COM	117043109

Increased Positions (5)

TW TRADEWEB MKTS INC 1.3%

Value ($000) $78,300 (+52.7%) Shares 728,100 (+57.6%) Est. Cost $122.12 Unrealized -12.1%

AMZN AMAZON COM INC 4.0%

Value ($000) $237,283 (+10.5%) Shares 1,028,000 (+5.1%) Est. Cost $172.92 Unrealized +32.3%

PGR PROGRESSIVE CORP 1.9%

Value ($000) $113,518 (+16.7%) Shares 498,500 (+26.6%) Est. Cost $141.28 Unrealized +50.3%

RYAN RYAN SPECIALTY HOLDINGS INC 0.8%

Value ($000) $49,539 (+43.9%) Shares 959,500 (+57.0%) Est. Cost $57.64 Unrealized -4.9%

SE SEA LTD 4.1%

Value ($000) $239,883 (+1.7%) Shares 1,880,400 (+42.5%) Est. Cost $112.38 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TW	TRADEWEB MKTS INC	728,100 (+57.6%)	$78,300 (+52.7%)	1.3%	$122.12	-12.1%	CL A	892672106
AMZN	AMAZON COM INC	1,028,000 (+5.1%)	$237,283 (+10.5%)	4.0%	$172.92	+32.3%	COM	023135106
PGR	PROGRESSIVE CORP	498,500 (+26.6%)	$113,518 (+16.7%)	1.9%	$141.28	+50.3%	COM	743315103
RYAN	RYAN SPECIALTY HOLDINGS INC	959,500 (+57.0%)	$49,539 (+43.9%)	0.8%	$57.64	-4.9%	CL A	78351F107
SE	SEA LTD	1,880,400 (+42.5%)	$239,883 (+1.7%)	4.1%	$112.38	—	SPONSORD ADS	81141R100

Exited Positions (6)

FISV FISERV INC 3.5%

Value ($000) $204,354 Shares 1,585,000 Est. Cost $130.52 Unrealized -35.7%

META META PLATFORMS INC 3.0%

Value ($000) $177,500 Shares 241,700 Est. Cost $400.22 Unrealized +66.7%

EFX EQUIFAX INC 2.0%

Value ($000) $115,439 Shares 450,000 Est. Cost $199.29 Unrealized +9.7%

CRM SALESFORCE INC 0.9%

Value ($000) $55,837 Shares 235,600 Est. Cost $191.64 Unrealized +29.5%

BRO BROWN & BROWN INC 0.4%

Value ($000) $23,635 Shares 252,000 Est. Cost $97.18 Unrealized -14.2%

CASY CASEYS GEN STORES INC 0.3%

Value ($000) $15,264 Shares 27,000 Est. Cost $521.89 Unrealized +5.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
FISV	FISERV INC	1,585,000	$204,354	3.5%	$130.52	-35.7%	—	337738108
META	META PLATFORMS INC	241,700	$177,500	3.0%	$400.22	+66.7%	—	30303M102
EFX	EQUIFAX INC	450,000	$115,439	2.0%	$199.29	+9.7%	—	294429105
CRM	SALESFORCE INC	235,600	$55,837	0.9%	$191.64	+29.5%	—	79466L302
BRO	BROWN & BROWN INC	252,000	$23,635	0.4%	$97.18	-14.2%	—	115236101
CASY	CASEYS GEN STORES INC	27,000	$15,264	0.3%	$521.89	+5.3%	—	147528103

Decreased Positions (10)

LNG CHENIERE ENERGY INC 1.4%

Value ($000) $82,596 (-49.8%) Shares 424,900 (-39.3%) Est. Cost $50.32 Unrealized +317.3%

RBA RB GLOBAL INC 0.8%

Value ($000) $44,635 (-60.5%) Shares 433,900 (-58.4%) Est. Cost $108.30 Unrealized -6.2%

CSGP COSTAR GROUP INC 1.0%

Value ($000) $60,624 (-44.0%) Shares 901,600 (-29.7%) Est. Cost $75.78 Unrealized -6.5%

FICO FAIR ISAAC CORP 8.8%

Value ($000) $516,789 (+6.3%) Shares 305,680 (-5.9%) Est. Cost $741.46 Unrealized +132.2%

ICE INTERCONTINENTAL EXCHANGE IN 2.0%

Value ($000) $118,620 (-13.5%) Shares 732,400 (-10.1%) Est. Cost $95.55 Unrealized +63.5%

MSFT MICROSOFT CORP 2.8%

Value ($000) $163,754 (-9.6%) Shares 338,600 (-3.2%) Est. Cost $141.78 Unrealized +253.1%

V VISA INC 4.6%

Value ($000) $271,520 (-2.8%) Shares 774,200 (-5.4%) Est. Cost $116.48 Unrealized +192.2%

HLT HILTON WORLDWIDE HLDGS INC 1.6%

Value ($000) $94,706 (+6.7%) Shares 329,700 (-3.6%) Est. Cost $237.69 Unrealized +14.5%

GOOGL ALPHABET INC 7.4%

Value ($000) $437,449 (+0.9%) Shares 1,397,600 (-21.6%) Est. Cost $135.21 Unrealized +111.2%

NPWR/WS NET POWER INC 0.0%

Value ($000) $233 (-35.7%) Shares 465,200 (-3.6%) Est. Cost $3.36 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
LNG	CHENIERE ENERGY INC	424,900 (-39.3%)	$82,596 (-49.8%)	1.4%	$50.32	+317.3%	COM NEW	16411R208
RBA	RB GLOBAL INC	433,900 (-58.4%)	$44,635 (-60.5%)	0.8%	$108.30	-6.2%	COM	74935Q107
CSGP	COSTAR GROUP INC	901,600 (-29.7%)	$60,624 (-44.0%)	1.0%	$75.78	-6.5%	COM	22160N109
FICO	FAIR ISAAC CORP	305,680 (-5.9%)	$516,789 (+6.3%)	8.8%	$741.46	+132.2%	COM	303250104
ICE	INTERCONTINENTAL EXCHANGE IN	732,400 (-10.1%)	$118,620 (-13.5%)	2.0%	$95.55	+63.5%	COM	45866F104
MSFT	MICROSOFT CORP	338,600 (-3.2%)	$163,754 (-9.6%)	2.8%	$141.78	+253.1%	COM	594918104
V	VISA INC	774,200 (-5.4%)	$271,520 (-2.8%)	4.6%	$116.48	+192.2%	COM CL A	92826C839
HLT	HILTON WORLDWIDE HLDGS INC	329,700 (-3.6%)	$94,706 (+6.7%)	1.6%	$237.69	+14.5%	COM	43300A203
GOOGL	ALPHABET INC	1,397,600 (-21.6%)	$437,449 (+0.9%)	7.4%	$135.21	+111.2%	CAP STK CL A	02079K305
NPWR/WS	NET POWER INC	465,200 (-3.6%)	$233 (-35.7%)	0.0%	$3.36	—	*W EXP 06/08/2028	64107A113

Unchanged Positions (2)

APP APPLOVIN CORP 35.7%

Value ($000) $2,101,308 Shares 3,118,500 Est. Cost $100.46 Unrealized +527.2%

HWM HOWMET AEROSPACE INC 18.3%

Value ($000) $1,079,328 Shares 5,264,500 Est. Cost $16.15 Unrealized +1132.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
APP	APPLOVIN CORP	3,118,500	$2,101,308	35.7%	$100.46	+527.2%	COM CL A	03831W108
HWM	HOWMET AEROSPACE INC	5,264,500	$1,079,328	18.3%	$16.15	+1132.4%	COM	443201108