Kensington Investment Counsel, LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 15, 2025), Kensington Investment Counsel, LLC reported 101 stock positions worth $233.2 million. Its top holding was Microsoft (MSFT) at 6.2% of the portfolio, followed by Apple (AAPL, 5.2%) and Watsco (WSO, 3.7%). Compared with Q1 2025, it opened 8 new positions, sold out of 1, added to 43 and reduced 33. The biggest buy was Microsoft (MSFT, shares +3%) and the biggest sale an exit from Emerson Electric (EMR).

Most Recent 13F
Q2 2026
Location
LONG BEACH, CA
CIK
0001845536
Portfolio Value
$233.2M (Q2 2025)
SEC Filing
0001845536-25-000003 ↗ filed Aug 15, 2025

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q1 2024: $218.9M Q1 2024 Q2 2024: $226.1M Q2 2024 Q3 2024: $239.4M Q3 2024 Q4 2024: $239.7M Q4 2024 Q1 2025: $225.1M Q1 2025 Q2 2025: $233.2M $233.2M Q2 2025 Q3 2025: $245.5M Q3 2025 Q4 2025: $246.2M Q4 2025 Q1 2026: $207.7M Q1 2026 Q2 2026: $230.2M Q2 2026

Holdings 101 stocks · $233.2M
MSFT Microsoft Corp. 6.23% 29,194 $14.5M Add +2.5%
AAPL Apple Inc. 5.25% 59,647 $12.2M Add +2.2%
WSO Watsco Inc. 3.69% 19,488 $8.6M Add +1.8%
JPM JPMorgan Chase & Co. 3.26% 26,228 $7.6M Add +2.6%
WSM Williams-Sonoma Inc. 3.24% 46,183 $7.5M Add +1.6%
SNA Snap-on Inc. 2.87% 21,537 $6.7M Add +2.1%
ABBV Abbvie Inc. 2.84% 35,615 $6.6M Add +3.6%
MKC McCormick & Co.-Non VTG SHRS 2.75% 84,662 $6.4M Add +2.0%
RSG Republic Services Inc. 2.75% 26,018 $6.4M Add +3.0%
PG The Procter & Gamble Co. 2.33% 34,036 $5.4M Add +3.7%
HD Home Depot Inc. 2.30% 14,602 $5.4M Add +1.7%
GD General Dynamics Corp. 2.23% 17,813 $5.2M Add +3.2%
BR Broadridge Financial Solutio 2.06% 19,802 $4.8M Add +3.1%
PEP Pepsico Inc. 1.99% 35,104 $4.6M Add +4.6%
AMGN Amgen Inc. 1.98% 16,565 $4.6M Add +3.2%
ACN Accenture PLC Class A 1.93% 15,028 $4.5M Add +3.0%
TXN Texas Instruments Inc. 1.90% 21,372 $4.4M Add +3.6%
NVDA Nvidia Corp. 1.79% 26,450 $4.2M Add +4.1%
QQQ Invesco QQQ Trust Series 1 1.78% 7,531 $4.2M Add +1.7%
QCOM Qualcomm Inc. 1.74% 25,406 $4.0M Add +2.8%
JNJ Johnson & Johnson 1.64% 25,076 $3.8M Add +2.9%
AVB Avalonbay Communities Inc. 1.48% 16,986 $3.5M Add +3.2%
MRK Merck & Co. Inc. 1.48% 43,490 $3.4M Add +3.0%
CRWD CrowdStrike Holdings Inc. Class A 1.46% 6,668 $3.4M Reduce -0.9%
MORN Morningstar Inc. 1.39% 10,343 $3.2M Reduce -0.6%
ROP Roper Technologies Inc. 1.38% 5,693 $3.2M Reduce -0.3%
GOOGL Alphabet Inc. Class A 1.33% 17,632 $3.1M Add +1.0%
MA Mastercard Inc. Class A 1.30% 5,404 $3.0M Reduce -0.3%
CHD Church & Dwight Co. Inc. 1.24% 30,099 $2.9M Reduce -0.3%
CPRT Copart Inc. 1.23% 58,634 $2.9M Reduce -0.6%
FDS Factset Research Systems Inc. 1.20% 6,242 $2.8M Reduce -0.6%
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC 1.12% 36,427 $2.6M Add +1.0%
AME Ametek Inc. 1.07% 13,745 $2.5M Reduce -1.4%
CSW CSW Industrials Inc. 1.06% 8,593 $2.5M Reduce -0.6%
MKL Markel Group Inc. 1.00% 1,173 $2.3M Reduce -0.8%
EPAC Enerpac Tool Group Corp. 0.98% 56,375 $2.3M Reduce -0.6%
DUOL Duolingo 0.97% 5,517 $2.3M Add +0.5%
ROL Rollins Inc. 0.89% 36,773 $2.1M Reduce -0.6%
AMZN Amazon.com Inc. 0.84% 8,961 $2.0M Add +3.1%
LKQ LKQ Corp. 0.79% 49,689 $1.8M Reduce -31.0%
RMD Resmed Inc. 0.79% 7,098 $1.8M Reduce -0.4%
H Hyatt Hotels Corp. Class A 0.77% 12,927 $1.8M Reduce -2.2%
DELL Dell Technologies -C 0.75% 14,213 $1.7M Add +5.2%
SHW The Sherwin-Williams Co. 0.72% 4,918 $1.7M No change
EXLS Exlservice Holdings Inc. 0.71% 37,690 $1.7M Reduce -0.7%
ZS Zscaler Inc. 0.70% 5,184 $1.6M Reduce -0.9%
LLY Eli Lilly & Co. 0.67% 2,011 $1.6M No change
WAT Waters Corp. 0.67% 4,465 $1.6M Reduce -0.7%
AVGO Broadcom Inc. 0.63% 5,299 $1.5M Add +1.3%
MNST Monster Beverage Corp. 0.61% 22,811 $1.4M Reduce -0.3%
TYL Tyler Technologies Inc. 0.61% 2,409 $1.4M Reduce -0.5%
INTU Intuit Inc. 0.59% 1,756 $1.4M Add +0.3%
CBZ Cbiz Inc. 0.59% 19,285 $1.4M Reduce -1.9%
DKS Dick's Sporting Goods Inc. 0.57% 6,769 $1.3M Add +5.5%
ITW Illinois Tool Works 0.57% 5,335 $1.3M No change
NDAQ Nasdaq Inc. 0.56% 14,541 $1.3M Reduce -1.1%
META Meta Platforms Inc. Class A 0.53% 1,687 $1.2M Add +1.4%
SSNC Ss&c Technologies Holdings 0.53% 15,010 $1.2M Reduce -0.8%
BRK.B Berkshire Hathaway Inc. Class B 0.53% 2,550 $1.2M Add +3.7%
RGEN Repligen Corp. 0.49% 9,117 $1.1M Reduce -2.3%
NVS Novartis AG-Sponsored ADR 0.47% 9,100 $1.1M Add +0.1%
DHR Danaher Corp. 0.44% 5,238 $1.0M No change
FIVE Five Below 0.44% 7,880 $1.0M Reduce -0.7%
ROST Ross Stores Inc. 0.41% 7,559 $964K No change
PANW Palo Alto Networks Inc. 0.39% 4,447 $910K Add +0.3%
COST Costco Wholesale Corp. 0.38% 885 $876K Add +1.0%
BX Blackstone Inc. 0.37% 5,753 $861K No change
PYPL PayPal Holdings Inc. 0.36% 11,335 $842K Reduce -3.0%
TECH Bio-Techne Corp. 0.35% 15,814 $814K Reduce -0.9%
ADBE Adobe Inc. 0.31% 1,860 $720K Reduce -4.5%
LFUS Littelfuse Inc. 0.30% 3,092 $701K Reduce -1.4%
VRTX Vertex Pharmaceuticals Inc. 0.29% 1,503 $669K Add +0.5%
COO The Cooper Cos Inc. 0.28% 9,273 $660K Reduce -0.8%
SPY SS SPDR S&P 500 ETF Trust-US 0.26% 997 $616K Add +26.5%
XOM Exxon Mobil Corp. 0.25% 5,441 $587K No change
CRM Salesforce Inc. 0.23% 1,972 $538K No change
CSCO Cisco Systems Inc. 0.22% 7,540 $523K Add +1.2%
TMO Thermo Fisher Scientific Inc. 0.22% 1,250 $507K Reduce -13.6%
GOOG Alphabet Inc. Class C 0.22% 2,828 $502K Add +4.2%
AMD Advanced Micro Devices 0.20% 3,269 $464K Add +0.9%
NOC Northrop Grumman Corp. 0.17% 783 $391K No change
WST West Pharmaceutical Services 0.16% 1,697 $371K Reduce -0.9%
NKE Nike Inc. Class B 0.16% 5,209 $370K Reduce -9.7%
CTSH Cognizant Tech Solutions-A 0.15% 4,397 $343K No change
MO Altria Group Inc. 0.13% 5,187 $304K Add +0.3%
COIN Coinbase Global Inc. Class A 0.11% 755 $265K New
BA The Boeing Co. 0.11% 1,255 $263K No change
CVX Chevron Corp. 0.11% 1,822 $261K Add +0.7%
CB Chubb Ltd. 0.11% 880 $255K No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.10% 825 $243K New
AMAT Applied Materials Inc. 0.10% 1,304 $239K New
APH Amphenol Corp. Class A 0.10% 2,400 $237K New
NOW ServiceNow Inc. 0.10% 226 $232K New
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.09% 1,756 $218K New
APPF Appfolio Inc. Class A 0.09% 900 $207K New
FIS Fidelity National Info Serv 0.09% 2,525 $206K New
GBDC Golub Capital BDC Inc. 0.08% 11,966 $175K No change
OBDC Blue Owl Capital Corp. 0.07% 11,971 $172K No change
MOV Movado Group Inc. 0.07% 10,621 $162K No change
OCSL Oaktree Specialty Lending Co. 0.07% 11,547 $158K No change

Show all 101 holdings

Portfolio Sells Q1 2025 → Q2 2025
EMR Emerson Electric Co. Sold out 0.00% −1.07
LKQ LKQ Corp. Reduce -31.0% 0.79% −0.57
CPRT Copart Inc. Reduce -0.6% 1.23% −0.25
CHD Church & Dwight Co. Inc. Reduce -0.3% 1.24% −0.24
EPAC Enerpac Tool Group Corp. Reduce -0.6% 0.98% −0.15
ROP Roper Technologies Inc. Reduce -0.3% 1.38% −0.11
TMO Thermo Fisher Scientific Inc. Reduce -13.6% 0.22% −0.10
EXLS Exlservice Holdings Inc. Reduce -0.7% 0.71% −0.09
FDS Factset Research Systems Inc. Reduce -0.6% 1.20% −0.07
CBZ Cbiz Inc. Reduce -1.9% 0.59% −0.07
WAT Waters Corp. Reduce -0.7% 0.67% −0.07
COO The Cooper Cos Inc. Reduce -0.8% 0.28% −0.07
TECH Bio-Techne Corp. Reduce -0.9% 0.35% −0.07
CSW CSW Industrials Inc. Reduce -0.6% 1.06% −0.06
RGEN Repligen Corp. Reduce -2.3% 0.49% −0.04
SSNC Ss&c Technologies Holdings Reduce -0.8% 0.53% −0.03
ADBE Adobe Inc. Reduce -4.5% 0.31% −0.02
MA Mastercard Inc. Class A Reduce -0.3% 1.30% −0.02
TYL Tyler Technologies Inc. Reduce -0.5% 0.61% −0.01
WST West Pharmaceutical Services Reduce -0.9% 0.16% −0.01
NKE Nike Inc. Class B Reduce -9.7% 0.16% −0.00
AME Ametek Inc. Reduce -1.4% 1.07% +0.00
ROL Rollins Inc. Reduce -0.6% 0.89% +0.00
MORN Morningstar Inc. Reduce -0.6% 1.39% +0.01
MNST Monster Beverage Corp. Reduce -0.3% 0.61% +0.02
PYPL PayPal Holdings Inc. Reduce -3.0% 0.36% +0.02
MKL Markel Group Inc. Reduce -0.8% 1.00% +0.02
LFUS Littelfuse Inc. Reduce -1.4% 0.30% +0.03
H Hyatt Hotels Corp. Class A Reduce -2.2% 0.77% +0.05
NDAQ Nasdaq Inc. Reduce -1.1% 0.56% +0.06
RMD Resmed Inc. Reduce -0.4% 0.79% +0.08
FIVE Five Below Reduce -0.7% 0.44% +0.18
ZS Zscaler Inc. Reduce -0.9% 0.70% +0.24
CRWD CrowdStrike Holdings Inc. Class A Reduce -0.9% 1.46% +0.40

Portfolio Buys Q1 2025 → Q2 2025
MSFT Microsoft Corp. Add +2.5% 6.23% +1.48
NVDA Nvidia Corp. Add +4.1% 1.79% +0.57
JPM JPMorgan Chase & Co. Add +2.6% 3.26% +0.47
TXN Texas Instruments Inc. Add +3.6% 1.90% +0.26
TTD Trade Desk Inc./the Class A Add +1.0% 1.12% +0.25
QQQ Invesco QQQ Trust Series 1 Add +1.7% 1.78% +0.24
AVGO Broadcom Inc. Add +1.3% 0.63% +0.24
DUOL Duolingo Add +0.5% 0.97% +0.21
DELL Dell Technologies -C Add +5.2% 0.75% +0.20
GD General Dynamics Corp. Add +3.2% 2.23% +0.14
GOOGL Alphabet Inc. Class A Add +1.0% 1.33% +0.13
INTU Intuit Inc. Add +0.3% 0.59% +0.12
COIN Coinbase Global Inc. Class A New 0.11% +0.11
AMZN Amazon.com Inc. Add +3.1% 0.84% +0.11
META Meta Platforms Inc. Class A Add +1.4% 0.53% +0.11
IBM Intl Business Machines Corp. New 0.10% +0.10
AMAT Applied Materials Inc. New 0.10% +0.10
APH Amphenol Corp. Class A New 0.10% +0.10
NOW ServiceNow Inc. New 0.10% +0.10
DIS The Walt Disney Co. New 0.09% +0.09
APPF Appfolio Inc. Class A New 0.09% +0.09
FIS Fidelity National Info Serv New 0.09% +0.09
SPY SS SPDR S&P 500 ETF Trust-US Add +26.5% 0.26% +0.07
PANW Palo Alto Networks Inc. Add +0.3% 0.39% +0.05
AMD Advanced Micro Devices Add +0.9% 0.20% +0.05
QCOM Qualcomm Inc. Add +2.8% 1.74% +0.05
WSM Williams-Sonoma Inc. Add +1.6% 3.24% +0.04
RSG Republic Services Inc. Add +3.0% 2.75% +0.03
GOOG Alphabet Inc. Class C Add +4.2% 0.22% +0.03
NVS Novartis AG-Sponsored ADR Add +0.1% 0.47% +0.02
CSCO Cisco Systems Inc. Add +1.2% 0.22% +0.02
COST Costco Wholesale Corp. Add +1.0% 0.38% +0.01
DKS Dick's Sporting Goods Inc. Add +5.5% 0.57% −0.00
BR Broadridge Financial Solutio Add +3.1% 2.06% −0.00
MO Altria Group Inc. Add +0.3% 0.13% −0.01
CVX Chevron Corp. Add +0.7% 0.11% −0.02
VRTX Vertex Pharmaceuticals Inc. Add +0.5% 0.29% −0.04
HD Home Depot Inc. Add +1.7% 2.30% −0.04
BRK.B Berkshire Hathaway Inc. Class B Add +3.7% 0.53% −0.05
AVB Avalonbay Communities Inc. Add +3.2% 1.48% −0.09
ACN Accenture PLC Class A Add +3.0% 1.93% −0.10
JNJ Johnson & Johnson Add +2.9% 1.64% −0.15
PG The Procter & Gamble Co. Add +3.7% 2.33% −0.16
MRK Merck & Co. Inc. Add +3.0% 1.48% −0.21
AMGN Amgen Inc. Add +3.2% 1.98% −0.24
PEP Pepsico Inc. Add +4.6% 1.99% −0.25
MKC McCormick & Co.-Non VTG SHRS Add +2.0% 2.75% −0.28
SNA Snap-on Inc. Add +2.1% 2.87% −0.28
ABBV Abbvie Inc. Add +3.6% 2.84% −0.37
AAPL Apple Inc. Add +2.2% 5.25% −0.51

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 85$230.2MAAPL, MSFT, ABBV, JPM, CSCO
Q1 2026 83$207.7MAAPL, MSFT, ABBV, JPM, SNA
Q4 2025 104$246.2MAAPL, MSFT, JPM, ABBV, WSM
Q3 2025 104$245.5MAAPL, MSFT, WSM, JPM, ABBV
Q2 2025 101$233.2MMSFT, AAPL, WSO, JPM, WSM
Q1 2025 94$225.1MAAPL, MSFT, WSO, ABBV, WSM
Q4 2024 94$239.7MAAPL, MSFT, WSM, WSO, SNA
Q3 2024 112$239.4MAAPL, MSFT, WSO, WSM, MKC
Q2 2024 108$226.1MMSFT, AAPL, WSM, WSO, QCOM
Q1 2024 97$218.9MMSFT, WSM, AAPL, WSO, MKC