Latest Kensington Investment Counsel, LLC Stock Portfolio

Kensington Investment Counsel, LLC Performance:

2025 Q4: 0.4%YTD: 2.81%2024: 12.86%

Performance for 2025 Q4 is 0.4%, and YTD is 2.81%, and 2024 is 12.86%.

About Kensington Investment Counsel, LLC and 13F Hedge Fund Stock Holdings

On 2026-02-18, the fund reported it's updated stock portfolio. In the 13F Holdings report, Kensington Investment Counsel, LLC reported an equity portfolio of $246.2 Millions as of 31 Dec, 2025.

The top stock holdings of Kensington Investment Counsel, LLC are AAPL, MSFT, JPM. The fund has invested 6.9% of it's portfolio in APPLE INC COM and 5.8% of portfolio in MICROSOFT CORP COM.

The fund managers got completely rid off DUOLINGO INC CL A COM (DUOL), CBIZ INC COM (CBZ) and COINBASE GLOBAL INC COM CL A (COIN) stocks. They significantly reduced their stock positions in BIO-TECHNE CORP COM (TECH), REPLIGEN CORP COM (RGEN) and FACTSET RESH SYS INC COM (FDS). Kensington Investment Counsel, LLC opened new stock positions in CARGURUS INC COM CL A (CARG), STATE STREET CONSUMER DISCRETIONARY SELECT SECTOR SPDR ETF (XLB) and ZOETIS INC CL A (ZTS). The fund showed a lot of confidence in some stocks as they added substantially to PALANTIR TECHNOLOGIES INC CL A (PLTR), PAYPAL HLDGS INC COM (PYPL) and TESLA INC COM (TSLA).

Kensington Investment Counsel, LLC Annual Return Estimates Vs S&P 500

Our best estimate is that Kensington Investment Counsel, LLC made a return of 0.4% in the last quarter. In trailing 12 months, it's portfolio return was 2.81%.

Performance
S&P 500

New Buys

Ticker	$ Bought
cargurus inc com cl a	1,181,910
state street consumer discretionary select sector spdr etf	580,930
state street technology select sector spdr etf	569,257
zoetis inc cl a	544,172
linde plc shs	497,597
honeywell intl inc com	494,163
fortinet inc com	447,634
state street industrial select sector spdr etf	272,701

New stocks bought by Kensington Investment Counsel, LLC

Additions

Ticker	% Inc.
palantir technologies inc cl a	128
paypal hldgs inc com	102
tesla inc com	94.5
meta platforms inc cl a	86.11
costco wholesale corporation com	62.2
amazon com inc com	31.28
alphabet inc cap stk cl c	27.77
cooper cos inc com	21.6

Additions to existing portfolio by Kensington Investment Counsel, LLC

Reductions

Ticker	% Reduced
bio-techne corp com	-50.05
repligen corp com	-35.23
factset resh sys inc com	-33.51
morningstar inc com	-25.84
the trade desk inc com cl a	-24.98
chevron corporation com	-24.32
littelfuse inc com	-21.95
west pharmaceutical svsc inc com	-19.46

Kensington Investment Counsel, LLC reduced stake in above stock

Sold off

Ticker	$ Sold
cbiz inc com	-1,412,500
arbor realty trust inc com	-158,132
blue owl capital corporation com	-152,870
golub cap bdc inc com	-163,815
oaktree specialty lending corp com	-150,688
duolingo inc cl a com	-1,651,360
servicenow inc com	-207,983
coinbase global inc com cl a	-272,692

Kensington Investment Counsel, LLC got rid off the above stocks

Sector Distribution

Kensington Investment Counsel, LLC has about 30.9% of it's holdings in Technology sector.

Sector	%
Technology	30.9
Healthcare	15.9
Industrials	15.6
Consumer Cyclical	10
Financial Services	8.1
Consumer Defensive	8.1
Others	5.4
Communication Services	3.7
Real Estate	1.1

Market Cap. Distribution

Kensington Investment Counsel, LLC has about 89.3% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
MEGA-CAP	45.1
LARGE-CAP	44.2
UNALLOCATED	5.4
MID-CAP	5.1

Stocks belong to which Index?

About 82.7% of the stocks held by Kensington Investment Counsel, LLC either belong to S&P 500 or RUSSELL 2000 index.

Index	%
S&P 500	79.3
Others	17.3
RUSSELL 2000	3.4

Top 5 Winners (%)		%
LLY	eli lilly & co com	40.4 %
AMD	advanced micro devices inc com	30.8 %
GOOG	alphabet inc cap stk cl a	28.6 %
GOOG	alphabet inc cap stk cl c	24.9 %
WAT	waters corp com	24.9 %

Top 5 Winners ($)		$
GOOG	alphabet inc cap stk cl a	1.2 M
AAPL	apple inc com	1.1 M
AMGN	amgen inc com	0.8 M
MRK	merck & co inc com	0.8 M
LLY	eli lilly & co com	0.6 M

Top 5 Losers (%)		%
ZS	zscaler inc com	-23.2 %
TTD	the trade desk inc com cl a	-19.7 %
APPF	appfolio inc com cl a	-15.6 %
WSO	watsco inc com	-15.3 %
HD	home depot inc com	-15.1 %

Top 5 Losers ($)		$
WSO	watsco inc com	-1.2 M
MSFT	microsoft corp com	-1.0 M
HD	home depot inc com	-0.9 M
WSM	williams sonoma inc com	-0.7 M
RSG	republic svcs inc com	-0.5 M

Kensington Investment Counsel, LLC Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of Kensington Investment Counsel, LLC

Kensington Investment Counsel, LLC has 104 stocks in it's portfolio. About 35.5% of the portfolio is in top 10 stocks. WSO proved to be the most loss making stock for the portfolio. GOOG was the most profitable stock for Kensington Investment Counsel, LLC last quarter.

Last Reported on: 18 Feb, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
AAPL	apple inc com	6.92	62,644	17,030,400	added	2.28

ABBV	abbvie inc com	3.44	37,021	8,458,930	added	2.37

ABR	arbor realty trust inc com	0.00	0.00	0.00	sold off	-100

ACN	accenture plc ireland shs class a	1.40	12,881	3,455,970	reduced	-12.92

ADBE	adobe inc com	0.31	2,171	759,828	added	14.02

AMAT	applied matls inc com	0.17	1,661	426,860	added	13.38

AMD	advanced micro devices inc com	0.34	3,863	827,300	added	8.3

AME	ametek inc com	0.99	11,893	2,441,750	reduced	-8.12

AMGN	amgen inc com	2.40	18,071	5,914,820	added	5.8

AMZN	amazon com inc com	1.15	12,284	2,835,390	added	31.28

APH	amphenol corp cl a	0.13	2,400	324,336	unchanged	0.00

APPF	appfolio inc com cl a	0.09	900	209,385	unchanged	0.00

AVB	avalonbay cmntys inc com	1.05	14,330	2,598,170	added	6.2

AVGO	broadcom inc com	0.95	6,777	2,345,520	added	16.54

BA	boeing co com	0.11	1,255	272,486	unchanged	0.00

BKE	buckle inc com	0.09	4,095	218,755	reduced	-1.87

BR	broadridge finl solutions inc com	1.90	20,934	4,671,840	added	4.2

BX	blackstone inc com	0.36	5,783	891,392	added	0.52

CARG	cargurus inc com cl a	0.48	30,819	1,181,910	new

CBZ	cbiz inc com	0.00	0.00	0.00	sold off	-100