Kensington Asset Management, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 12, 2025), Kensington Asset Management, LLC reported 29 stock positions worth $1.3 billion. Its top holding was Vanguard S&P 500 ETF (VOO) at 23.6% of the portfolio, followed by Invesco QQQ Trust Series 1 (QQQ, 15.3%) and iShares Broad Usd High Yield (USHY, 10.7%). Compared with Q1 2025, it opened 16 new positions, sold out of 16, added to 8 and reduced 4. The biggest buy was a new position in Invesco QQQ Trust Series 1 (QQQ) and the biggest sale an exit from SS SPDR BB High Yield Bond (JNK).
- Most Recent 13F
- Q2 2026
- Location
- AUSTIN, TX
- CIK
- 0001979884
- Portfolio Value
- $1.3B (Q2 2025)
- SEC Filing
- 0001979884-25-000007 ↗ filed Aug 12, 2025
Holdings Value
Holdings 29 stocks · $1.3B
| VOO Vanguard S&P 500 ETF | 23.57% | 549,593 | $312.2M | Add +163.2% |
| QQQ Invesco QQQ Trust Series 1 | 15.28% | 366,881 | $202.4M | New |
| USHY iShares Broad Usd High Yield | 10.75% | 3,795,450 | $142.4M | Reduce -18.4% |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | 7.24% | 261,800 | $95.9M | New |
| IWF iShares Russell 1000 Growth | 7.21% | 224,830 | $95.5M | New |
| VUG Vanguard Mrngstar GR ETF-Sui | 7.21% | 217,710 | $95.4M | New |
| SPHY SS SPDR P High Yield ETF | 5.97% | 3,323,020 | $79.1M | Reduce -20.5% |
| HYLB Xtrackers Usd High Yield Cor | 5.27% | 1,889,800 | $69.8M | Add +94.8% |
| PYLD PIMCO Multisector Bond Actv | 3.02% | 1,507,954 | $40.0M | Add +371.8% |
| ANGL Vaneck Fallen Angel High YLD | 3.02% | 1,363,870 | $39.9M | Reduce -38.6% |
| FLTR Vaneck Ig Floating Rate ETF | 1.82% | 947,498 | $24.2M | New |
| GSST Goldman Sachs Ultra Short Bo | 1.80% | 470,267 | $23.8M | New |
| JSI JH Securitized Income ETF | 1.49% | 375,115 | $19.7M | Add +74.4% |
| VNLA Janus Henderson Short Durati | 1.30% | 348,807 | $17.2M | Add +193.3% |
| FLOT iShares Floating Rate Bond E | 1.13% | 293,483 | $15.0M | Add +85.2% |
| IEF iShares 7-10 Year Treasury B | 1.06% | 146,875 | $14.1M | Add +94.2% |
| BKUI BNY Mellon Ultr SHRT Inc. ETF | 0.51% | 135,703 | $6.8M | Add +9.1% |
| YEAR AB Ultra Short Income ETF filed as AB ACTIVE ETFS INC | 0.38% | 100,131 | $5.1M | New |
| SPEM State Street SP PTF Em ETF | 0.30% | 93,373 | $4.0M | New |
| FLJP Franklin Ftse Japan ETF | 0.29% | 120,172 | $3.9M | New |
| VGK Vanguard Ftse Europe ETF | 0.29% | 49,737 | $3.9M | Reduce -54.6% |
| JPST JPMorgan Ultra-Short Income | 0.28% | 72,857 | $3.7M | New |
| VUSB Vanguard Ultra Short Bond Et | 0.26% | 69,090 | $3.4M | New |
| USMV iShares MSCI USA Min Vol Fac | 0.17% | 23,980 | $2.3M | New |
| BKGI BNY Mellon GLBL Infra Inc. | 0.12% | 39,720 | $1.6M | New |
| CGUI Cap Group Ultra Short Income | 0.11% | 59,931 | $1.5M | New |
| EMB iShares JP Morgan Usd Emergi | 0.07% | 10,680 | $989K | New |
| JHHY John Hancock High Yield ETF | 0.05% | 25,000 | $645K | No change |
| XCCC Bondbloxx-CCC-Usd HY Corp. BD | 0.03% | 10,906 | $423K | New |
Portfolio Sells Q1 2025 → Q2 2025
| JNK SS SPDR BB High Yield Bond | Sold out | 0.00% | −11.39 |
| USHY iShares Broad Usd High Yield | Reduce -18.4% | 10.75% | −7.24 |
| JAAA Janus Henderson Aaa Clo ETF | Sold out | 0.00% | −5.60 |
| SRLN SS Blackstone Sr Loan ETF | Sold out | 0.00% | −5.38 |
| SPHY SS SPDR P High Yield ETF | Reduce -20.5% | 5.97% | −4.31 |
| SJNK SS SPDR BB St Hi Yield ETF | Sold out | 0.00% | −3.83 |
| ANGL Vaneck Fallen Angel High YLD | Reduce -38.6% | 3.02% | −3.72 |
| VCSH Vanguard S/T Corp. Bond ETF | Sold out | 0.00% | −3.36 |
| BKLN Invesco Senior Loan ETF | Sold out | 0.00% | −3.27 |
| LONZ PIMCO Senior Loan Active ETF | Sold out | 0.00% | −2.21 |
| HYGV NT HY Val-SCRD BD ETF | Sold out | 0.00% | −2.20 |
| PULS Pgim Ultra Short Bond ETF | Sold out | 0.00% | −1.38 |
| FLHY Franklin High Yield Corporat | Sold out | 0.00% | −1.27 |
| SGOL Abrdn Physical Gold Shares | Sold out | 0.00% | −0.88 |
| IYR iShares US Real Estate ETF | Sold out | 0.00% | −0.82 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Sold out | 0.00% | −0.82 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Sold out | 0.00% | −0.82 |
| INVESCO QQQ TR | Sold out | 0.00% | −0.81 |
| VGK Vanguard Ftse Europe ETF | Reduce -54.6% | 0.29% | −0.52 |
| JBBB Janus Henderson B-BBB Clo Et | Sold out | 0.00% | −0.15 |
Portfolio Buys Q1 2025 → Q2 2025
| QQQ Invesco QQQ Trust Series 1 | New | 15.28% | +15.28 |
| VOO Vanguard S&P 500 ETF | Add +163.2% | 23.57% | +12.29 |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | New | 7.24% | +7.24 |
| IWF iShares Russell 1000 Growth | New | 7.21% | +7.21 |
| VUG Vanguard Mrngstar GR ETF-Sui | New | 7.21% | +7.21 |
| PYLD PIMCO Multisector Bond Actv | Add +371.8% | 3.02% | +2.14 |
| FLTR Vaneck Ig Floating Rate ETF | New | 1.82% | +1.82 |
| GSST Goldman Sachs Ultra Short Bo | New | 1.80% | +1.80 |
| HYLB Xtrackers Usd High Yield Cor | Add +94.8% | 5.27% | +1.58 |
| VNLA Janus Henderson Short Durati | Add +193.3% | 1.30% | +0.68 |
| YEAR AB Ultra Short Income ETF | New | 0.38% | +0.38 |
| JSI JH Securitized Income ETF | Add +74.4% | 1.49% | +0.31 |
| IEF iShares 7-10 Year Treasury B | Add +94.2% | 1.06% | +0.30 |
| SPEM State Street SP PTF Em ETF | New | 0.30% | +0.30 |
| FLJP Franklin Ftse Japan ETF | New | 0.29% | +0.29 |
| FLOT iShares Floating Rate Bond E | Add +85.2% | 1.13% | +0.28 |
| JPST JPMorgan Ultra-Short Income | New | 0.28% | +0.28 |
| VUSB Vanguard Ultra Short Bond Et | New | 0.26% | +0.26 |
| USMV iShares MSCI USA Min Vol Fac | New | 0.17% | +0.17 |
| BKGI BNY Mellon GLBL Infra Inc. | New | 0.12% | +0.12 |
| CGUI Cap Group Ultra Short Income | New | 0.11% | +0.11 |
| EMB iShares JP Morgan Usd Emergi | New | 0.07% | +0.07 |
| XCCC Bondbloxx-CCC-Usd HY Corp. BD | New | 0.03% | +0.03 |
| BKUI BNY Mellon Ultr SHRT Inc. ETF | Add +9.1% | 0.51% | −0.14 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 39 | $1.8B | VOO, PULS, VUSB, JPST, FLOT |
| Q1 2026Amended | 41 | $1.8B | VOO, QQQ, PULS, VUSB, JPST |
| Q4 2025 | 41 | $1.9B | VOO, QQQ, USHY, MGK, VUG |
| Q3 2025 | 37 | $1.7B | VOO, QQQ, USHY, VUG, MGK |
| Q2 2025 | 29 | $1.3B | VOO, QQQ, USHY, MGK, IWF |
| Q1 2025 | 29 | $951.5M | USHY, JNK, VOO, SPHY, ANGL |
| Q4 2024 | 26 | $1.7B | QQQ, VOO, USHY, JNK, SPHY |
| Q3 2024 | 30 | $1.8B | VOO, QQQ, USHY, JNK, SPHY |
| Q2 2024Amended | 20 | $926.6M | JAAA, USHY, JNK, BKLN, SPHY |
| Q1 2024 | 23 | $2.0B | QQQ, VOO, USHY, JNK, MGK |