Kensington Investment Counsel, LLC

Q3 2025 13F-HR Holdings

Location
Long Beach, CA
Holdings as of
9/30/2025
Date filed
11/20/2025
Form type
13F-HR
Num holdings
104
Total value ($000)
$245,513
Net value change ($000)
+12,340 (5.3%)
New positions
7
Sold out positions
4
Turnover %
5.6%
Sector allocation + QoQ delta (equities-only)
Prev filing: 8/15/2025 Next filing: 2/18/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
AAPL 3,358 27.4%
CNI 3,079 NEW
UNH 2,888 NEW
UNP 2,696 NEW
TMDX 1,926 NEW
ABBV 1,762 26.7%
WSM 1,241 16.4%
GOOGL 1,179 37.9%
NVDA 1,131 27.1%
GD 1,007 19.4%
Top Reduces (Value $000, Stocks/ETFs)
LKQ -1,839 -100.0%
FDS -1,140 -40.8%
MORN -1,026 -31.6%
TTD -977 -37.3%
MKC -890 -13.9%
AVB -850 -24.6%
ACN -844 -18.8%
WSO -843 -9.8%
CSW -642 -26.0%
DUOL -611 -27.0%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type