KENSICO CAPITAL MANAGEMENT CORP recently filed their 13F report for the fourth quarter of 2022, which ended on 2022-12-31.
The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.
Kensico Capital Management Corporation is a hedge fund sponsor based out of Greenwich, Connecticut. The company was established in 2000 by cofounders Michael B. Lowenstein and Thomas J. Coleman, who are both still with the company today acting as its co-Presidents. The firm would begin with a focus in stock investments, although its venture into credit default swaps in 2006 would allow it to capture a great deal of capital to facilitate its growth. Kensico Capital Management has grown from its inception to now have 29 employees of which 16 are investment professionals. The company utilizes a value driven and opportunistic investment approach with a diverse investment focus, allocating its assets in various public equity and fixed income markets on a global scale. Kensico Capital Management invests most heavily in the information technology sector, which alone makes up over a quarter of its total asset allocations, and also invests in the consumer staples, energy, finance, consumer discretionary, and health care sectors, among others to a lesser degree. The firm’s top holdings include Constellation Brands, Inc., Cheniere Energy Inc., and American International Group, Inc. each making up over 10% of its total holdings. Kensico Capital Management’s top 10 holdings alone make up over three quarters of its total holdings and the company currently has a turnover rate of 33%. The company currently holds over $8.8 billion in total assets under management spread across 7 accounts, all of which are discretionary accounts. Although Kensico Capital Management’s total number of accounts held has been unchanged in recent years, its total assets under management has been steadily increasing, growing significantly from $5.1 billion back in 2012 to its current amount today. The company currently caters exclusively to pooled investment vehicles and takes its advisory fees from a percentage of fees and various other performance fees.
As of the latest 13F report, the guru’s equity portfolio contained 31 stocks valued at a total of $2.10Bil. The top holdings were HWM(13.56%), V(9.81%), and FICO(8.39%).
According to GuruFocus data, these were KENSICO CAPITAL MANAGEMENT CORP’s top five trades of the quarter.
Meta Platforms Inc
The guru sold out of their 689,100-share investment in NAS:META. Previously, the stock had a 4.83% weight in the equity portfolio. Shares traded for an average price of $117.43 during the quarter.
On 02/18/2023, Meta Platforms Inc traded for a price of $172.88 per share and a market cap of $448.22Bil. The stock has returned -16.77% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Meta Platforms Inc has a price-earnings ratio of 20.15, a price-book ratio of 3.59, a price-earnings-to-growth (PEG) ratio of 1.31, a EV-to-Ebitda ratio of 11.50 and a price-sales ratio of 4.07.
The price-to-GF Value ratio is 0.46, earning the stock a GF Value rank of 4.
Intercontinental Exchange Inc
During the quarter, KENSICO CAPITAL MANAGEMENT CORP bought 954,200 shares of NYSE:ICE for a total holding of 1,094,200. The trade had a 4.67% impact on the equity portfolio. During the quarter, the stock traded for an average price of $99.59.
On 02/18/2023, Intercontinental Exchange Inc traded for a price of $107.11 per share and a market cap of $59.86Bil. The stock has returned -11.86% over the past year.
GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Intercontinental Exchange Inc has a price-earnings ratio of 41.68, a price-book ratio of 2.63, a price-earnings-to-growth (PEG) ratio of 4.53, a EV-to-Ebitda ratio of 22.13 and a price-sales ratio of 6.24.
The price-to-GF Value ratio is 0.84, earning the stock a GF Value rank of 9.
Archaea Energy Inc
The guru sold out of their 3,800,000-share investment in NYSE:LFG. Previously, the stock had a 3.54% weight in the equity portfolio. Shares traded for an average price of $24.58 during the quarter.
On 02/18/2023, Archaea Energy Inc traded for a price of $26 per share and a market cap of $2.12Bil. The stock has returned 47.81% over the past year.
GuruFocus gives the company a financial strength rating of 2 out of 10 and a profitability rating of 1 out of 10.
In terms of valuation, Archaea Energy Inc has a price-book ratio of 16.25, a EV-to-Ebitda ratio of 55.23 and a price-sales ratio of 6.86.
Cigna Corp
The guru established a new position worth 218,600 shares in NYSE:CI, giving the stock a 3.46% weight in the equity portfolio. Shares traded for an average price of $316.43 during the quarter.
On 02/18/2023, Cigna Corp traded for a price of $301.06 per share and a market cap of $89.44Bil. The stock has returned 34.53% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Cigna Corp has a price-earnings ratio of 14.08, a price-book ratio of 2.04, a price-earnings-to-growth (PEG) ratio of 0.65, a EV-to-Ebitda ratio of 11.20 and a price-sales ratio of 0.52.
The price-to-GF Value ratio is 1.11, earning the stock a GF Value rank of 3.
Fidelity National Information Services Inc
The guru sold out of their 715,000-share investment in NYSE:FIS. Previously, the stock had a 2.79% weight in the equity portfolio. Shares traded for an average price of $71.04000000000001 during the quarter.
On 02/18/2023, Fidelity National Information Services Inc traded for a price of $69.5 per share and a market cap of $41.24Bil. The stock has returned -26.84% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, Fidelity National Information Services Inc has a price-book ratio of 1.52, a EV-to-Ebitda ratio of -4.83 and a price-sales ratio of 2.88.
The price-to-GF Value ratio is 0.50, earning the stock a GF Value rank of 4.
Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.
When GuruFocus covers insider information, we only track open market or the private purchase and sale of common stock with the transaction code of P or S. Therefore, all the transactions mentioned in this article are only the ones with transaction code of P or S.
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