Kennicott Capital Management LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Kennicott Capital Management LLC reported 47 stock positions worth $206.2 million. Its top holding was Invesco QQQ Trust Series 1 (QQQ) at 18.3% of the portfolio, followed by Vanguard Mrngstar GR ETF-Sui (VUG, 14.1%) and Vngrd Mrgstr LRG-Cap ETF-Usd (VV, 11.1%). Compared with Q3 2025, it opened 1 new position, sold out of 3, added to 15 and reduced 12. The biggest buy was Invesco QQQ Trust Series 1 (QQQ, shares +1%) and the biggest sale iShares 0-3 Month Treasury B (SGOV, shares −19%).
- Most Recent 13F
- Q2 2026
- Location
- LARKSPUR, CA
- CIK
- 0001863265
- Portfolio Value
- $206.2M (Q4 2025)
- SEC Filing
- 0001754960-26-000180 ↗ filed Feb 13, 2026
Holdings Value
Holdings 47 stocks · $206.2M
| QQQ Invesco QQQ Trust Series 1 | 18.31% | 61,468 | $37.8M | Add +0.8% |
| VUG Vanguard Mrngstar GR ETF-Sui | 14.11% | 59,628 | $29.1M | Add +2.0% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 11.07% | 72,556 | $22.8M | Add +2.4% |
| SPY SS SPDR S&P 500 ETF Trust-US | 8.96% | 27,101 | $18.5M | Add +3.2% |
| SGOV iShares 0-3 Month Treasury B | 7.19% | 147,773 | $14.8M | Reduce -18.6% |
| XLK SS Technology Select Sector | 5.37% | 76,892 | $11.1M | No change |
| XLV SS Health Care Select Sector | 3.24% | 43,113 | $6.7M | Add +1.8% |
| XLI SS Industrial Select Sector | 3.03% | 40,329 | $6.3M | Add +0.1% |
| IVV iShares Core S&P 500 ETF | 2.88% | 8,683 | $5.9M | Add +0.4% |
| XLF SS Financial Select Sector | 2.23% | 84,044 | $4.6M | Add +0.3% |
| XLY SS Consumer Disc Select Sect | 2.21% | 38,230 | $4.6M | Reduce -6.3% |
| RSP Invesco S&P 500 Equal Weight | 1.91% | 20,573 | $3.9M | Add +3.1% |
| VTV Vanguard Mrngstr Val ETF-Aui | 1.63% | 17,581 | $3.4M | Add +10.8% |
| RSPT Invesco S&P 500 Equal Weight | 1.58% | 71,444 | $3.3M | No change |
| AAPL Apple Inc. | 1.56% | 11,808 | $3.2M | Reduce -16.8% |
| VTI VG Morningstar TS MKT ETF-US | 1.40% | 8,610 | $2.9M | Reduce -11.5% |
| IYF iShares US Financials ETF | 1.10% | 17,658 | $2.3M | No change |
| VFH Vanguard Financials ETF | 1.01% | 15,667 | $2.1M | Add +8.0% |
| XLP SS Consumer Staples Sel Sect | 0.99% | 26,212 | $2.0M | Add +0.8% |
| RBLX Roblox Corp. Class A | 0.98% | 24,926 | $2.0M | No change |
| NVDA Nvidia Corp. | 0.88% | 9,730 | $1.8M | No change |
| QQQM Invesco Nasdaq 100 ETF | 0.87% | 7,119 | $1.8M | Add +3.0% |
| VCR Vanguard Consumer Discre ETF | 0.82% | 4,308 | $1.7M | No change |
| IYH iShares U.S. Healthcare ETF | 0.66% | 20,910 | $1.4M | No change |
| VB Vanguard Most SM-Cap ETF-Usd | 0.65% | 5,179 | $1.3M | Reduce -28.7% |
| IYJ iShares U.S. Industrials ETF | 0.58% | 8,055 | $1.2M | No change |
| DOCS Doximity Inc. Class A | 0.43% | 20,000 | $886K | No change |
| VBK Van Morst SML-Cap Gro-Usd Inc. | 0.40% | 2,703 | $817K | Reduce -36.4% |
| GOOGL Alphabet Inc. Class A | 0.39% | 2,580 | $808K | No change |
| IWO iShares Russell 2000 Growth | 0.35% | 2,216 | $716K | Reduce -8.3% |
| BXMT Blackstone Mortgage Tru Class A | 0.34% | 36,450 | $697K | Add +2.6% |
| AMZN Amazon.com Inc. | 0.31% | 2,795 | $645K | Reduce -12.5% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.27% | 1,925 | $559K | Reduce -6.6% |
| STWD Starwood Property Trust Inc. | 0.24% | 27,240 | $491K | New |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | 0.24% | 1,739 | $485K | No change |
| VIS Vanguard Industrials ETF | 0.23% | 1,624 | $485K | Add +20.8% |
| META Meta Platforms Inc. Class A | 0.21% | 669 | $442K | No change |
| LRCX Lam Research Corp. | 0.20% | 2,400 | $411K | No change |
| MSFT Microsoft Corp. | 0.18% | 755 | $365K | No change |
| IVW iShares S&P 500 Growth ETF | 0.16% | 2,724 | $336K | No change |
| GOOG Alphabet Inc. Class C | 0.15% | 960 | $301K | No change |
| UBER Uber Technologies Inc. | 0.15% | 3,675 | $300K | No change |
| IWM iShares Russell 2000 ETF | 0.13% | 1,083 | $267K | Reduce -12.8% |
| AVGO Broadcom Inc. | 0.12% | 730 | $253K | No change |
| XLC SS Comm Select Sector SPDR | 0.12% | 2,077 | $245K | No change |
| VOE Vngrd Mrngstr MD-Cap Val ETF | 0.10% | 1,181 | $209K | Reduce -17.9% |
| NAD Nuveen Quality Municipal Inc. | 0.06% | 10,418 | $125K | Reduce -30.6% |
Portfolio Sells Q3 2025 → Q4 2025
| SGOV iShares 0-3 Month Treasury B | Reduce -18.6% | 7.19% | −1.63 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -28.7% | 0.65% | −0.24 |
| VBK Van Morst SML-Cap Gro-Usd Inc. | Reduce -36.4% | 0.40% | −0.21 |
| AAPL Apple Inc. | Reduce -16.8% | 1.56% | −0.19 |
| XLY SS Consumer Disc Select Sect | Reduce -6.3% | 2.21% | −0.15 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -11.5% | 1.40% | −0.14 |
| GBTC Grayscale Bitcoin Trust ETF | Sold out | 0.00% | −0.11 |
| VWO Vanguard Ftse Emerging Marke | Sold out | 0.00% | −0.10 |
| IWF iShares Russell 1000 Growth | Sold out | 0.00% | −0.10 |
| IWO iShares Russell 2000 Growth | Reduce -8.3% | 0.35% | −0.03 |
| AMZN Amazon.com Inc. | Reduce -12.5% | 0.31% | −0.03 |
| NAD Nuveen Quality Municipal Inc. | Reduce -30.6% | 0.06% | −0.02 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Reduce -6.6% | 0.27% | −0.02 |
| VOE Vngrd Mrngstr MD-Cap Val ETF | Reduce -17.9% | 0.10% | −0.02 |
| IWM iShares Russell 2000 ETF | Reduce -12.8% | 0.13% | −0.02 |
Portfolio Buys Q3 2025 → Q4 2025
| QQQ Invesco QQQ Trust Series 1 | Add +0.8% | 18.31% | +0.65 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +2.0% | 14.11% | +0.57 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | Add +2.4% | 11.07% | +0.54 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +3.2% | 8.96% | +0.52 |
| XLV SS Health Care Select Sector | Add +1.8% | 3.24% | +0.39 |
| STWD Starwood Property Trust Inc. | New | 0.24% | +0.24 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +10.8% | 1.63% | +0.20 |
| VFH Vanguard Financials ETF | Add +8.0% | 1.01% | +0.10 |
| IVV iShares Core S&P 500 ETF | Add +0.4% | 2.88% | +0.09 |
| RSP Invesco S&P 500 Equal Weight | Add +3.1% | 1.91% | +0.08 |
| XLF SS Financial Select Sector | Add +0.3% | 2.23% | +0.05 |
| QQQM Invesco Nasdaq 100 ETF | Add +3.0% | 0.87% | +0.05 |
| VIS Vanguard Industrials ETF | Add +20.8% | 0.23% | +0.04 |
| XLI SS Industrial Select Sector | Add +0.1% | 3.03% | +0.04 |
| BXMT Blackstone Mortgage Tru Class A | Add +2.6% | 0.34% | +0.02 |
| XLP SS Consumer Staples Sel Sect | Add +0.8% | 0.99% | +0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 46 | $215.9M | QQQ, VV, VUG, SPY, SGOV |
| Q1 2026 | 46 | $183.1M | QQQ, VUG, VV, SPY, SGOV |
| Q4 2025 | 47 | $206.2M | QQQ, VUG, VV, SPY, SGOV |
| Q3 2025 | 49 | $207.2M | QQQ, VUG, VV, SGOV, SPY |
| Q2 2025 | 49 | $175.3M | QQQ, VUG, VV, SPY, XLK |
| Q1 2025 | 42 | $153.3M | QQQ, VV, SPY, VUG, XLK |
| Q4 2024 | 41 | $194.5M | QQQ, SPY, VV, RBLX, VUG |
| Q3 2024 | 44 | $260.7M | SPY, QQQ, VV, VUG, RBLX |
| Q2 2024 | 41 | $240.5M | SPY, QQQ, VV, VUG, RBLX |
| Q1 2024 | 42 | $226.1M | SPY, QQQ, VV, VUG, RBLX |