Institutional Manager · CIK 0001845536

Kensington Investment Counsel, LLC

LONG BEACH, CA · File #028-20923

Latest AUM

$246.2M

Positions

104

Top-10 Concentration

42.2%

Filings

Portfolio Value Over Time

2024-03

2024-06

2024-09

2024-12

2025-03

2025-06

2025-09

2025-12

Biggest QoQ Changes

Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.

Action	Issuer	Ticker / CUSIP	Δ Shares	Flow ($)	Price Effect
EXITED	DUOLINGO INC CL A COM	26603R106	-5,131	-$1.7M	$0
EXITED	CBIZ INC COM	124805102	-26,671	-$1.4M	$0
NEW	CARGURUS INC COM CL A	CARG	+30,819	+$1.2M	$0
REDUCE	WATSCO INC COM	WSO-B	-3,229	-$1.1M	-$1.3M
ADD	META PLATFORMS INC CL A	META	+1,581	+$1.0M	-$136,397
REDUCE	MCCORMICK & CO INC COM NON VTG	MKC-V	-12,565	-$855,802	+$99,167
ADD	PAYPAL HLDGS INC COM	PYPL	+11,604	+$677,446	-$98,228
ADD	AMAZON COM INC COM	AMZN	+2,927	+$675,610	+$105,267
NEW	STATE STREET CONSUMER DISCRETIONARY SELECT SECTOR SPDR ETF	81369Y407	+4,865	+$580,930	$0
NEW	STATE STREET TECHNOLOGY SELECT SECTOR SPDR ETF	81369Y803	+3,954	+$569,257	$0

Sector Allocation

Technology

26.6%$65.4M

Healthcare

13.8%$34.1M

Industrials

11.3%$27.7M

Consumer Discretionary

9.6%$23.6M

Financials

6.4%$15.8M

Consumer Staples

3.8%$9.4M

Communication Services

0.9%$2.3M

Materials

0.8%$2.0M

Energy

0.3%$863,419

Filing History

Feb 18, 202613F HOLDINGS REPORTQ/E Dec 2025104 pos · $246.2M
Nov 20, 202513F HOLDINGS REPORTQ/E Sep 2025104 pos · $245.5M
Aug 15, 202513F HOLDINGS REPORTQ/E Jun 2025101 pos · $233.2M
May 15, 202513F HOLDINGS REPORTQ/E Mar 202594 pos · $225.1M
Feb 10, 202513F HOLDINGS REPORTQ/E Dec 202494 pos · $239.7M
Nov 15, 202413F HOLDINGS REPORTQ/E Sep 2024112 pos · $239.4M
Aug 14, 202413F HOLDINGS REPORTQ/E Jun 2024108 pos · $226.1M
May 13, 202413F HOLDINGS REPORTQ/E Mar 202497 pos · $218.9M
Nov 9, 202313F HOLDINGS REPORTQ/E Dec 202398 pos · $161.1M

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	APPLE INC COM	AAPL	62,644	$17.0M	8.21%
2	MICROSOFT CORP COM	MSFT	29,742	$14.4M	6.93%
3	JPMORGAN CHASE & CO COM	VYLD	26,863	$8.7M	4.17%
4	ABBVIE INC COM	ABBV	37,021	$8.5M	4.08%
5	WILLIAMS SONOMA INC COM	WSM	42,856	$7.7M	3.69%
6	SNAP ON INC COM	SNA	21,359	$7.4M	3.55%
7	GENERAL DYNAMICS CORP COM	GD	18,893	$6.4M	3.07%
8	AMGEN INC COM	AMGN	18,071	$5.9M	2.85%
9	NVIDIA CORPORATION COM	NVDA	31,337	$5.8M	2.82%
10	REPUBLIC SVCS INC COM	760759100	27,416	$5.8M	2.80%
11	JOHNSON & JOHNSON COM	JNJ	26,663	$5.5M	2.66%
12	ALPHABET INC CAP STK CL A	GOOG	17,429	$5.5M	2.63%
13	PEPSICO INC COM	PEP	37,963	$5.4M	2.63%
14	INVESCO QQQ TRUST SERIES I	IVZ	8,849	$5.4M	2.62%
15	WATSCO INC COM	WSO-B	15,971	$5.4M	2.59%
16	HOME DEPOT INC COM	HD	14,760	$5.1M	2.45%
17	MCCORMICK & CO INC COM NON VTG	MKC-V	70,074	$4.8M	2.30%
18	QUALCOMM INC COM	QCOM	27,361	$4.7M	2.26%
19	BROADRIDGE FINL SOLUTIONS INC COM	11133T103	20,934	$4.7M	2.25%
20	PROCTER & GAMBLE CO COM	742718109	31,327	$4.5M	2.16%