Kensington Investment Counsel, LLC

Q4 2025 13F-HR Holdings

Location
Long Beach, CA
Holdings as of
12/31/2025
Date filed
2/18/2026
Form type
13F-HR
Num holdings
104
Total value ($000)
$246,186
Net value change ($000)
+673 (0.3%)
New positions
8
Sold out positions
8
Turnover %
3.6%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/20/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 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 1,434 9.2%
CARG 1,182 NEW
GOOGL 1,169 27.3%
AMGN 1,095 22.7%
MRK 1,031 34.3%
META 908 67.4%
AMZN 780 38.0%
JNJ 778 16.4%
LLY 659 43.0%
XLY 581 NEW
Top Reduces (Value $000, Stocks/ETFs)
WSO -2,382 -30.7%
DUOL -1,651 -100.0%
CBZ -1,412 -100.0%
MSFT -1,132 -7.3%
WSM -1,132 -12.9%
HD -904 -15.1%
PG -775 -14.7%
MKC -756 -13.7%
TTD -689 -41.9%
MORN -678 -30.5%
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