# David Kennon Inc

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1954126. Source: https://holderbook.com/funds/1954126-david-kennon-inc/

- Reported value: $302.6M
- Positions: 45
- Weight of the ten largest: 72.8%
- Filed: 2026-07-22

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 |
|---|---|---|---|---|---|
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $77.8M | 113,227 | 25.7% | 14 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $35.5M | 95,930 | 11.7% | 16 |
| VANGUARD STAR FDS | [VXUS](https://holderbook.com/stocks/VXUS/) | $19.9M | 232,552 | 6.6% | 16 |
| INVESCO EXCH TRADED FD TR II | [QQQM](https://holderbook.com/stocks/QQQM/) | $18.4M | 60,880 | 6.1% | 1 |
| VANGUARD BD INDEX FDS | [VUSB](https://holderbook.com/stocks/VUSB/) | $17.6M | 354,232 | 5.8% | 14 |
| VANGUARD INDEX FDS | [VB](https://holderbook.com/stocks/VB/) | $14.2M | 46,823 | 4.7% | 16 |
| VANGUARD INDEX FDS | [VO](https://holderbook.com/stocks/VO/) | $11.6M | 143,679 | 3.8% | 16 |
| FIDELITY COVINGTON TRUST | [FIDI](https://holderbook.com/stocks/FIDI/) | $9.3M | 340,918 | 3.1% | 16 |
| VANGUARD INDEX FDS | [VNQ](https://holderbook.com/stocks/VNQ/) | $8.1M | 84,031 | 2.7% | 16 |
| SPDR INDEX SHS FDS | [SPEM](https://holderbook.com/stocks/SPEM/) | $7.9M | 152,251 | 2.6% | 16 |
| FIDELITY COMWLTH TR | [ONEQ](https://holderbook.com/stocks/ONEQ/) | $7.8M | 76,041 | 2.6% | 16 |
| VANGUARD SCOTTSDALE FDS | [VGSH](https://holderbook.com/stocks/VGSH/) | $7.0M | 120,630 | 2.3% | 2 |
| VANGUARD WORLD FD | [VHT](https://holderbook.com/stocks/VHT/) | $5.9M | 19,829 | 2.0% | 10 |
| VANGUARD WORLD FD | [VPU](https://holderbook.com/stocks/VPU/) | $5.4M | 27,602 | 1.8% | 10 |
| VANGUARD WORLD FD | [MGC](https://holderbook.com/stocks/MGC/) | $4.4M | 16,168 | 1.5% | 16 |
| SSGA ACTIVE ETF TR | [ULST](https://holderbook.com/stocks/ULST/) | $4.3M | 106,107 | 1.4% | 14 |
| GOLDMAN SACHS ETF TR | [GCOR](https://holderbook.com/stocks/GCOR/) | $3.9M | 94,106 | 1.3% | 10 |
| SELECT SECTOR SPDR TR | [XLK](https://holderbook.com/stocks/XLK/) | $3.5M | 18,579 | 1.2% | 1 |
| SELECT SECTOR SPDR TR | [XLI](https://holderbook.com/stocks/XLI/) | $3.5M | 18,779 | 1.1% | 1 |
| ISHARES TR | [ICSH](https://holderbook.com/stocks/ICSH/) | $3.4M | 67,495 | 1.1% | 2 |
| ISHARES TR | [IGSB](https://holderbook.com/stocks/IGSB/) | $3.4M | 64,760 | 1.1% | 2 |
| SELECT SECTOR SPDR TR | [XLP](https://holderbook.com/stocks/XLP/) | $3.3M | 39,182 | 1.1% | 1 |
| VANGUARD BD INDEX FDS | [BND](https://holderbook.com/stocks/BND/) | $3.1M | 42,239 | 1.0% | 16 |
| SELECT SECTOR SPDR TR | [XLE](https://holderbook.com/stocks/XLE/) | $3.1M | 57,428 | 1.0% | 1 |
| BNY MELLON ETF TRUST | [BKLC](https://holderbook.com/stocks/BKLC/) | $2.9M | 20,115 | 1.0% | 10 |
| INVESCO EXCH TRADED FD TR II | [SPHD](https://holderbook.com/stocks/SPHD/) | $2.9M | 56,137 | 0.9% | 16 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $2.6M | 8,911 | 0.9% | 16 |
| ISHARES TR | [IWD](https://holderbook.com/stocks/IWD/) | $2.0M | 8,424 | 0.7% | 10 |
| SPDR SERIES TRUST | [SPBO](https://holderbook.com/stocks/SPBO/) | $1.5M | 52,207 | 0.5% | 16 |
| VANGUARD WHITEHALL FDS | [VWOB](https://holderbook.com/stocks/VWOB/) | $1.2M | 18,155 | 0.4% | 16 |
| WISDOMTREE TR | [AGGY](https://holderbook.com/stocks/AGGY/) | $1.1M | 24,427 | 0.4% | 16 |
| GLOBAL X FDS | [PFFD](https://holderbook.com/stocks/PFFD/) | $692.6K | 37,058 | 0.2% | 16 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $672.6K | 2,822 | 0.2% | 16 |
| VANGUARD WORLD FD | [MGK](https://holderbook.com/stocks/MGK/) | $659.9K | 7,507 | 0.2% | 5 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $640.3K | 855 | 0.2% | 14 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $539.1K | 722 | 0.2% | 10 |
| ISHARES TR | [USHY](https://holderbook.com/stocks/USHY/) | $515.1K | 13,914 | 0.2% | 14 |
| ISHARES TR | [SHYG](https://holderbook.com/stocks/SHYG/) | $471.8K | 11,125 | 0.2% | 14 |
| GLOBAL X FDS | [BOTZ](https://holderbook.com/stocks/BOTZ/) | $388.1K | 10,230 | 0.1% | 10 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $315.2K | 845 | 0.1% | 14 |
| RBB FD INC | [XBIL](https://holderbook.com/stocks/XBIL/) | $272.0K | 5,440 | 0.1% | 13 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $268.2K | 224 | 0.1% | 3 |
| NORTHERN LTS FD TR IV | [BIBL](https://holderbook.com/stocks/BIBL/) | $250.3K | 4,324 | 0.1% | 2 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $233.1K | 712 | 0.1% | 7 |
| ISHARES INC | [CEMB](https://holderbook.com/stocks/CEMB/) | $226.3K | 4,958 | 0.1% | 14 |

## 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 | +10.5% | +14.8% | -4.4% | 100% |
| Q1 2026 | -2.0% | -4.6% | +2.6% | 100% |
| Q4 2025 | +1.5% | +2.4% | -0.9% | 100% |
| Q3 2025 | +6.0% | +7.8% | -1.8% | 100% |
| Q2 2025 | +6.3% | +10.5% | -4.2% | 100% |
| Q1 2025 | -1.8% | -4.6% | +2.7% | 100% |
| Q4 2024 | -1.3% | +2.1% | -3.4% | 100% |
| Q3 2024 | +5.8% | +5.4% | +0.4% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $302.6M | 45 |
| Q1 2026 | $278.9M | 41 |
| Q4 2025 | $281.3M | 38 |
| Q3 2025 | $277.8M | 36 |
| Q2 2025 | $267.7M | 36 |
| Q1 2025 | $251.2M | 36 |
| Q4 2024 | $253.5M | 36 |
| Q3 2024 | $254.0M | 34 |
| Q2 2024 | $238.1M | 34 |
| Q1 2024 | $233.9M | 34 |
| Q4 2023 | $223.2M | 27 |
| Q3 2023 | $208.7M | 27 |