# Kensington Investment Counsel, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1845536. Source: https://holderbook.com/funds/1845536-kensington-investment-counsel-llc/

- Reported value: $230.2M
- Positions: 85
- Weight of the ten largest: 39.5%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $18.1M | 62,542 | 7.9% | 22 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $11.7M | 31,349 | 5.1% | 22 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $9.0M | 35,786 | 3.9% | 22 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $8.6M | 26,248 | 3.7% | 22 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $8.2M | 70,023 | 3.6% | 22 |
| SNAP ON INC | [SNA](https://holderbook.com/stocks/SNA/) | $7.7M | 19,252 | 3.4% | 22 |
| DELL TECHNOLOGIES INC | [DELL](https://holderbook.com/stocks/DELL/) | $7.6M | 17,614 | 3.3% | 6 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $6.8M | 34,082 | 3.0% | 13 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $6.6M | 22,238 | 2.9% | 22 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $6.5M | 25,663 | 2.8% | 22 |
| GENERAL DYNAMICS CORP | [GD](https://holderbook.com/stocks/GD/) | $6.4M | 18,184 | 2.8% | 22 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $6.0M | 16,454 | 2.6% | 22 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $5.8M | 16,349 | 2.5% | 22 |
| WILLIAMS SONOMA INC | [WSM](https://holderbook.com/stocks/WSM/) | $5.8M | 24,879 | 2.5% | 12 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $5.7M | 7,792 | 2.5% | 22 |
| REPUBLIC SVCS INC | [RSG](https://holderbook.com/stocks/RSG/) | $5.6M | 26,081 | 2.4% | 22 |
| WATSCO INC | [WSO](https://holderbook.com/stocks/WSO/) | $5.5M | 13,115 | 2.4% | 16 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $5.1M | 14,462 | 2.2% | 22 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $4.8M | 26,221 | 2.1% | 22 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $4.8M | 35,442 | 2.1% | 6 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $4.8M | 37,325 | 2.1% | 22 |
| CANADIAN NATL RY CO | [CNI](https://holderbook.com/stocks/CNI/) | $3.8M | 31,828 | 1.6% | 4 |
| SLB LIMITED | [SLB](https://holderbook.com/stocks/SLB/) | $3.6M | 77,051 | 1.6% | 2 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $3.3M | 8,019 | 1.4% | 4 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $3.1M | 11,276 | 1.3% | 4 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $2.7M | 5,287 | 1.2% | 22 |
| HALLIBURTON CO | [HAL](https://holderbook.com/stocks/HAL/) | $2.6M | 77,838 | 1.1% | 2 |
| AVALONBAY CMNTYS INC | [AVB](https://holderbook.com/stocks/AVB/) | $2.5M | 13,143 | 1.1% | 14 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $2.4M | 2,041 | 1.1% | 13 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $2.4M | 6,327 | 1.0% | 13 |
| EXXONMOBIL HOLDINGS CORP COM SHS | [XOM](https://holderbook.com/stocks/XOM/) | $2.3M | 16,670 | 1.0% | 1 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $2.3M | 9,533 | 1.0% | 22 |
| BROADRIDGE FINL SOLUTIONS IN | [BR](https://holderbook.com/stocks/BR/) | $2.3M | 16,442 | 1.0% | 14 |
| AMETEK INC | [AME](https://holderbook.com/stocks/AME/) | $2.2M | 9,103 | 1.0% | 22 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $2.1M | 3,672 | 0.9% | 14 |
| CHURCH & DWIGHT CO INC | [CHD](https://holderbook.com/stocks/CHD/) | $1.9M | 19,200 | 0.8% | 22 |
| HONEYWELL INTL INC | [HON](https://holderbook.com/stocks/HON/) | $1.8M | 8,107 | 0.8% | 1 |
| HONEYWELL AEROSPACE INC | [HONA](https://holderbook.com/stocks/HONA/) | $1.8M | 8,107 | 0.8% | 1 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $1.6M | 4,703 | 0.7% | 13 |
| SHERWIN WILLIAMS CO | [SHW](https://holderbook.com/stocks/SHW/) | $1.6M | 4,631 | 0.7% | 22 |
| ROSS STORES INC | [ROST](https://holderbook.com/stocks/ROST/) | $1.6M | 7,447 | 0.7% | 22 |
| MONSTER BEVERAGE CORP NEW | [MNST](https://holderbook.com/stocks/MNST/) | $1.4M | 14,859 | 0.6% | 22 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $1.3M | 2,284 | 0.6% | 13 |
| MARKEL GROUP INC | [MKL](https://holderbook.com/stocks/MKL/) | $1.3M | 679 | 0.6% | 22 |
| NOVARTIS AG | [NVS](https://holderbook.com/stocks/NVS/) | $1.3M | 8,456 | 0.6% | 22 |
| CROWDSTRIKE HLDGS INC | [CRWD](https://holderbook.com/stocks/CRWD/) | $1.3M | 1,690 | 0.6% | 22 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $1.2M | 2,498 | 0.5% | 13 |
| ILLINOIS TOOL WKS INC | [ITW](https://holderbook.com/stocks/ITW/) | $1.2M | 4,440 | 0.5% | 22 |
| DICKS SPORTING GOODS INC | [DKS](https://holderbook.com/stocks/DKS/) | $1.2M | 5,235 | 0.5% | 10 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $1.2M | 1,259 | 0.5% | 22 |
| SELECT SECTOR SPDR TR | [XLK](https://holderbook.com/stocks/XLK/) | $1.2M | 6,085 | 0.5% | 3 |
| HYATT HOTELS CORP | [H](https://holderbook.com/stocks/H/) | $1.2M | 5,943 | 0.5% | 20 |
| VANGUARD INDEX FDS | [VUG](https://holderbook.com/stocks/VUG/) | $1.1M | 13,240 | 0.5% | 2 |
| DANAHER CORP DEL | [DHR](https://holderbook.com/stocks/DHR/) | $919.6K | 4,828 | 0.4% | 22 |
| INVESCO EXCH TRADED FD TR II | [QQQM](https://holderbook.com/stocks/QQQM/) | $904.4K | 2,985 | 0.4% | 1 |
| ROPER TECHNOLOGIES INC | [ROP](https://holderbook.com/stocks/ROP/) | $870.0K | 2,571 | 0.4% | 22 |
| RESMED INC | [RMD](https://holderbook.com/stocks/RMD/) | $813.0K | 4,172 | 0.4% | 22 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $757.9K | 2,145 | 0.3% | 12 |
| VERTEX PHARMACEUTICALS INC | [VRTX](https://holderbook.com/stocks/VRTX/) | $745.1K | 1,500 | 0.3% | 10 |
| ROLLINS INC | [ROL](https://holderbook.com/stocks/ROL/) | $729.4K | 17,475 | 0.3% | 22 |
| CSW INDUSTRIALS INC | [CSW](https://holderbook.com/stocks/CSW/) | $690.2K | 2,480 | 0.3% | 11 |
| FIVE BELOW INC | [FIVE](https://holderbook.com/stocks/FIVE/) | $686.8K | 3,820 | 0.3% | 22 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $653.0K | 872 | 0.3% | 1 |
| LINDE PLC | [LIN](https://holderbook.com/stocks/LIN/) | $584.3K | 1,126 | 0.3% | 3 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $578.7K | 1,376 | 0.3% | 4 |
| BLACKSTONE INC | [BX](https://holderbook.com/stocks/BX/) | $570.6K | 4,849 | 0.2% | 13 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $545.1K | 754 | 0.2% | 5 |
| ENERPAC TOOL GROUP CORP | [EPAC](https://holderbook.com/stocks/EPAC/) | $537.4K | 14,987 | 0.2% | 9 |
| WATERS CORP | [WAT](https://holderbook.com/stocks/WAT/) | $535.9K | 1,429 | 0.2% | 13 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $490.4K | 657 | 0.2% | 15 |
| COPART INC | [CPRT](https://holderbook.com/stocks/CPRT/) | $486.8K | 17,268 | 0.2% | 22 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $426.1K | 5,968 | 0.2% | 1 |
| NORTHROP GRUMMAN CORP | [NOC](https://holderbook.com/stocks/NOC/) | $398.8K | 783 | 0.2% | 13 |
| FREEPORT-MCMORAN INC | [FCX](https://holderbook.com/stocks/FCX/) | $370.4K | 5,890 | 0.2% | 2 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $368.2K | 319 | 0.2% | 1 |
| NASDAQ INC | [NDAQ](https://holderbook.com/stocks/NDAQ/) | $341.4K | 4,332 | 0.1% | 22 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $316.9K | 632 | 0.1% | 17 |
| WISDOMTREE TR | [NTSX](https://holderbook.com/stocks/NTSX/) | $281.4K | 4,766 | 0.1% | 1 |
| BOEING CO | [BA](https://holderbook.com/stocks/BA/) | $271.7K | 1,255 | 0.1% | 13 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $263.3K | 1,886 | 0.1% | 1 |
| REPLIGEN CORP | [RGEN](https://holderbook.com/stocks/RGEN/) | $238.4K | 1,747 | 0.1% | 22 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $232.0K | 825 | 0.1% | 1 |
| ALTRIA GROUP INC | [MO](https://holderbook.com/stocks/MO/) | $212.5K | 2,953 | 0.1% | 6 |
| WISDOMTREE TR | [WAMA](https://holderbook.com/stocks/WAMA/) | $208.1K | 7,951 | 0.1% | 1 |
| CHUBB LIMITED | [CB](https://holderbook.com/stocks/CB/) | $203.4K | 597 | 0.1% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +13.6% | +14.8% | -1.2% | 100% |
| Q1 2026 | -6.1% | -4.6% | -1.5% | 100% |
| Q4 2025 | -0.0% | +2.4% | -2.4% | 100% |
| Q3 2025 | +2.6% | +7.8% | -5.2% | 100% |
| Q2 2025 | +2.8% | +10.5% | -7.6% | 100% |
| Q1 2025 | -3.4% | -4.6% | +1.1% | 100% |
| Q4 2024 | +1.0% | +2.1% | -1.1% | 100% |
| Q3 2024 | +6.2% | +5.4% | +0.7% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $230.2M | 85 |
| Q1 2026 | $207.7M | 83 |
| Q4 2025 | $246.2M | 104 |
| Q3 2025 | $245.5M | 104 |
| Q2 2025 | $233.2M | 101 |
| Q1 2025 | $225.1M | 94 |
| Q4 2024 | $239.7M | 94 |
| Q3 2024 | $239.4M | 112 |
| Q2 2024 | $226.1M | 108 |
| Q1 2024 | $218.9M | 97 |
| Q4 2023 | $190.7M | 97 |
| Q3 2023 | $161.1M | 98 |