Kensington Investment Counsel, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 20, 2025), Kensington Investment Counsel, LLC reported 104 stock positions worth $245.5 million. Its top holding was Apple (AAPL) at 6.4% of the portfolio, followed by Microsoft (MSFT, 6.3%) and Williams-Sonoma (WSM, 3.6%). Compared with Q2 2025, it opened 7 new positions, sold out of 4, added to 31 and reduced 47. The biggest buy was a new position in Canadian Natl Railway (CNI) and the biggest sale an exit from LKQ (LKQ).
- Most Recent 13F
- Q2 2026
- Location
- LONG BEACH, CA
- CIK
- 0001845536
- Portfolio Value
- $245.5M (Q3 2025)
- SEC Filing
- 0001845536-25-000005 ↗ filed Nov 20, 2025
Holdings Value
Holdings 104 stocks · $245.5M
| AAPL Apple Inc. | 6.35% | 61,250 | $15.6M | Add +2.7% |
| MSFT Microsoft Corp. | 6.32% | 29,956 | $15.5M | Add +2.6% |
| WSM Williams-Sonoma Inc. | 3.58% | 44,952 | $8.8M | Reduce -2.7% |
| JPM JPMorgan Chase & Co. | 3.43% | 26,690 | $8.4M | Add +1.8% |
| ABBV Abbvie Inc. | 3.41% | 36,163 | $8.4M | Add +1.5% |
| WSO Watsco Inc. | 3.16% | 19,200 | $7.8M | Reduce -1.5% |
| SNA Snap-on Inc. | 3.01% | 21,331 | $7.4M | Reduce -1.0% |
| GD General Dynamics Corp. | 2.53% | 18,189 | $6.2M | Add +2.1% |
| RSG Republic Services Inc. | 2.47% | 26,405 | $6.1M | Add +1.5% |
| HD Home Depot Inc. | 2.44% | 14,767 | $6.0M | Add +1.1% |
| MKC McCormick & Co.-Non VTG SHRS | 2.25% | 82,639 | $5.5M | Reduce -2.4% |
| NVDA Nvidia Corp. | 2.16% | 28,461 | $5.3M | Add +7.6% |
| PG The Procter & Gamble Co. | 2.14% | 34,262 | $5.3M | Add +0.7% |
| PEP Pepsico Inc. | 2.05% | 35,796 | $5.0M | Add +2.0% |
| QQQ Invesco QQQ Trust Series 1 | 2.00% | 8,190 | $4.9M | Add +8.8% |
| AMGN Amgen Inc. | 1.96% | 17,081 | $4.8M | Add +3.1% |
| BR Broadridge Financial Solutio | 1.95% | 20,091 | $4.8M | Add +1.5% |
| JNJ Johnson & Johnson | 1.93% | 25,566 | $4.7M | Add +1.9% |
| QCOM Qualcomm Inc. | 1.78% | 26,321 | $4.4M | Add +3.6% |
| GOOGL Alphabet Inc. Class A | 1.75% | 17,632 | $4.3M | No change |
| TXN Texas Instruments Inc. | 1.66% | 22,153 | $4.1M | Add +3.6% |
| ACN Accenture PLC Class A | 1.49% | 14,792 | $3.6M | Reduce -1.6% |
| CNI Canadian Natl Railway Co. | 1.25% | 32,650 | $3.1M | New |
| MA Mastercard Inc. Class A | 1.25% | 5,404 | $3.1M | No change |
| CRWD CrowdStrike Holdings Inc. Class A | 1.23% | 6,151 | $3.0M | Reduce -7.8% |
| MRK Merck & Co. Inc. | 1.22% | 35,799 | $3.0M | Reduce -17.7% |
| UNH Unitedhealth Group Inc. | 1.18% | 8,365 | $2.9M | New |
| UNP Union Pacific Corp. | 1.10% | 11,406 | $2.7M | New |
| ROP Roper Technologies Inc. | 1.07% | 5,270 | $2.6M | Reduce -7.4% |
| AVB Avalonbay Communities Inc. | 1.06% | 13,494 | $2.6M | Reduce -20.6% |
| CHD Church & Dwight Co. Inc. | 1.00% | 28,084 | $2.5M | Reduce -6.7% |
| AME Ametek Inc. | 0.99% | 12,944 | $2.4M | Reduce -5.8% |
| CPRT Copart Inc. | 0.98% | 53,716 | $2.4M | Reduce -8.4% |
| MORN Morningstar Inc. | 0.90% | 9,574 | $2.2M | Reduce -7.4% |
| DELL Dell Technologies -C | 0.85% | 14,730 | $2.1M | Add +3.6% |
| AMZN Amazon.com Inc. | 0.84% | 9,357 | $2.1M | Add +4.4% |
| MKL Markel Group Inc. | 0.82% | 1,059 | $2.0M | Reduce -9.7% |
| EPAC Enerpac Tool Group Corp. | 0.82% | 49,284 | $2.0M | Reduce -12.6% |
| ROL Rollins Inc. | 0.80% | 33,596 | $2.0M | Reduce -8.6% |
| TMDX Transmedics Group Inc. | 0.78% | 17,165 | $1.9M | New |
| AVGO Broadcom Inc. | 0.78% | 5,815 | $1.9M | Add +9.7% |
| RMD Resmed Inc. | 0.75% | 6,713 | $1.8M | Reduce -5.4% |
| CSW CSW Industrials Inc. | 0.74% | 7,511 | $1.8M | Reduce -12.6% |
| SHW The Sherwin-Williams Co. | 0.68% | 4,822 | $1.7M | Reduce -1.9% |
| FDS Factset Research Systems Inc. | 0.67% | 5,766 | $1.7M | Reduce -7.6% |
| DUOL Duolingo | 0.67% | 5,131 | $1.7M | Reduce -7.0% |
| TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC | 0.67% | 33,566 | $1.6M | Reduce -7.8% |
| H Hyatt Hotels Corp. Class A | 0.67% | 11,553 | $1.6M | Reduce -10.6% |
| LLY Eli Lilly & Co. | 0.63% | 2,011 | $1.5M | No change |
| EXLS Exlservice Holdings Inc. | 0.61% | 34,187 | $1.5M | Reduce -9.3% |
| MNST Monster Beverage Corp. | 0.61% | 22,120 | $1.5M | Reduce -3.0% |
| ZS Zscaler Inc. | 0.58% | 4,749 | $1.4M | Reduce -8.4% |
| CBZ Cbiz Inc. | 0.58% | 26,671 | $1.4M | Add +38.3% |
| META Meta Platforms Inc. Class A | 0.55% | 1,836 | $1.3M | Add +8.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.52% | 2,550 | $1.3M | No change |
| ITW Illinois Tool Works | 0.51% | 4,783 | $1.2M | Reduce -10.3% |
| WAT Waters Corp. | 0.50% | 4,109 | $1.2M | Reduce -8.0% |
| INTU Intuit Inc. | 0.49% | 1,768 | $1.2M | Add +0.7% |
| SSNC Ss&c Technologies Holdings | 0.48% | 13,366 | $1.2M | Reduce -10.9% |
| NDAQ Nasdaq Inc. | 0.48% | 13,350 | $1.2M | Reduce -8.2% |
| ROST Ross Stores Inc. | 0.47% | 7,632 | $1.2M | Add +1.0% |
| FIVE Five Below | 0.47% | 7,416 | $1.1M | Reduce -5.9% |
| TYL Tyler Technologies Inc. | 0.47% | 2,186 | $1.1M | Reduce -9.3% |
| NVS Novartis AG-Sponsored ADR | 0.46% | 8,747 | $1.1M | Reduce -3.9% |
| DKS Dick's Sporting Goods Inc. | 0.44% | 4,868 | $1.1M | Reduce -28.1% |
| RGEN Repligen Corp. | 0.44% | 8,092 | $1.1M | Reduce -11.2% |
| DHR Danaher Corp. | 0.41% | 5,117 | $1.0M | Reduce -2.3% |
| BX Blackstone Inc. | 0.40% | 5,753 | $983K | No change |
| PANW Palo Alto Networks Inc. | 0.38% | 4,565 | $930K | Add +2.6% |
| COST Costco Wholesale Corp. | 0.36% | 963 | $891K | Add +8.8% |
| GOOG Alphabet Inc. Class C | 0.35% | 3,543 | $863K | Add +25.3% |
| TECH Bio-Techne Corp. | 0.33% | 14,602 | $812K | Reduce -7.7% |
| PYPL PayPal Holdings Inc. | 0.31% | 11,317 | $759K | Reduce -0.2% |
| ADBE Adobe Inc. | 0.27% | 1,904 | $672K | Add +2.4% |
| COO The Cooper Cos Inc. | 0.25% | 8,996 | $617K | Reduce -3.0% |
| XOM Exxon Mobil Corp. | 0.25% | 5,441 | $613K | No change |
| LFUS Littelfuse Inc. | 0.25% | 2,346 | $608K | Reduce -24.1% |
| VRTX Vertex Pharmaceuticals Inc. | 0.24% | 1,526 | $598K | Add +1.5% |
| TMO Thermo Fisher Scientific Inc. | 0.24% | 1,219 | $591K | Reduce -2.5% |
| AMD Advanced Micro Devices | 0.24% | 3,567 | $577K | Add +9.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.20% | 747 | $498K | Reduce -25.1% |
| CSCO Cisco Systems Inc. | 0.20% | 7,054 | $483K | Reduce -6.5% |
| NOC Northrop Grumman Corp. | 0.19% | 783 | $477K | No change |
| CRM Salesforce Inc. | 0.19% | 1,917 | $454K | Reduce -2.8% |
| NKE Nike Inc. Class B | 0.15% | 5,209 | $363K | No change |
| WST West Pharmaceutical Services | 0.15% | 1,362 | $357K | Reduce -19.7% |
| MO Altria Group Inc. | 0.14% | 5,174 | $342K | Reduce -0.3% |
| AMAT Applied Materials Inc. | 0.12% | 1,465 | $300K | Add +12.3% |
| APH Amphenol Corp. Class A | 0.12% | 2,400 | $297K | No change |
| CTSH Cognizant Tech Solutions-A | 0.12% | 4,397 | $295K | No change |
| CVX Chevron Corp. | 0.11% | 1,809 | $281K | Reduce -0.7% |
| COIN Coinbase Global Inc. Class A | 0.11% | 808 | $273K | Add +7.0% |
| BA The Boeing Co. | 0.11% | 1,255 | $271K | No change |
| APPF Appfolio Inc. Class A | 0.10% | 900 | $248K | No change |
| BKE The Buckle Inc. | 0.10% | 4,173 | $245K | New |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.09% | 825 | $233K | No change |
| PLTR Palantir Technologies Inc. Class A | 0.09% | 1,219 | $222K | New |
| TSLA Tesla Inc. | 0.09% | 473 | $210K | New |
| NOW ServiceNow Inc. | 0.08% | 226 | $208K | No change |
| MOV Movado Group Inc. | 0.08% | 10,621 | $201K | No change |
Portfolio Sells Q2 2025 → Q3 2025
| LKQ LKQ Corp. | Sold out | 0.00% | −0.79 |
| WSO Watsco Inc. | Reduce -1.5% | 3.16% | −0.53 |
| FDS Factset Research Systems Inc. | Reduce -7.6% | 0.67% | −0.52 |
| MKC McCormick & Co.-Non VTG SHRS | Reduce -2.4% | 2.25% | −0.50 |
| MORN Morningstar Inc. | Reduce -7.4% | 0.90% | −0.49 |
| TTD Trade Desk Inc./the Class A | Reduce -7.8% | 0.67% | −0.45 |
| ACN Accenture PLC Class A | Reduce -1.6% | 1.49% | −0.44 |
| AVB Avalonbay Communities Inc. | Reduce -20.6% | 1.06% | −0.42 |
| CSW CSW Industrials Inc. | Reduce -12.6% | 0.74% | −0.31 |
| ROP Roper Technologies Inc. | Reduce -7.4% | 1.07% | −0.31 |
| DUOL Duolingo | Reduce -7.0% | 0.67% | −0.30 |
| MRK Merck & Co. Inc. | Reduce -17.7% | 1.22% | −0.25 |
| CPRT Copart Inc. | Reduce -8.4% | 0.98% | −0.25 |
| CHD Church & Dwight Co. Inc. | Reduce -6.7% | 1.00% | −0.24 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -7.8% | 1.23% | −0.23 |
| MKL Markel Group Inc. | Reduce -9.7% | 0.82% | −0.18 |
| WAT Waters Corp. | Reduce -8.0% | 0.50% | −0.17 |
| EPAC Enerpac Tool Group Corp. | Reduce -12.6% | 0.82% | −0.16 |
| TYL Tyler Technologies Inc. | Reduce -9.3% | 0.47% | −0.15 |
| DKS Dick's Sporting Goods Inc. | Reduce -28.1% | 0.44% | −0.13 |
| ZS Zscaler Inc. | Reduce -8.4% | 0.58% | −0.12 |
| CB Chubb Ltd. | Sold out | 0.00% | −0.11 |
| H Hyatt Hotels Corp. Class A | Reduce -10.6% | 0.67% | −0.11 |
| EXLS Exlservice Holdings Inc. | Reduce -9.3% | 0.61% | −0.09 |
| DIS The Walt Disney Co. | Sold out | 0.00% | −0.09 |
| FIS Fidelity National Info Serv | Sold out | 0.00% | −0.09 |
| ROL Rollins Inc. | Reduce -8.6% | 0.80% | −0.09 |
| NDAQ Nasdaq Inc. | Reduce -8.2% | 0.48% | −0.08 |
| AME Ametek Inc. | Reduce -5.8% | 0.99% | −0.08 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -25.1% | 0.20% | −0.06 |
| ITW Illinois Tool Works | Reduce -10.3% | 0.51% | −0.06 |
| LFUS Littelfuse Inc. | Reduce -24.1% | 0.25% | −0.05 |
| PYPL PayPal Holdings Inc. | Reduce -0.2% | 0.31% | −0.05 |
| SSNC Ss&c Technologies Holdings | Reduce -10.9% | 0.48% | −0.05 |
| RGEN Repligen Corp. | Reduce -11.2% | 0.44% | −0.05 |
| CRM Salesforce Inc. | Reduce -2.8% | 0.19% | −0.05 |
| SHW The Sherwin-Williams Co. | Reduce -1.9% | 0.68% | −0.04 |
| RMD Resmed Inc. | Reduce -5.4% | 0.75% | −0.04 |
| COO The Cooper Cos Inc. | Reduce -3.0% | 0.25% | −0.03 |
| DHR Danaher Corp. | Reduce -2.3% | 0.41% | −0.03 |
| CSCO Cisco Systems Inc. | Reduce -6.5% | 0.20% | −0.03 |
| TECH Bio-Techne Corp. | Reduce -7.7% | 0.33% | −0.02 |
| NVS Novartis AG-Sponsored ADR | Reduce -3.9% | 0.46% | −0.02 |
| WST West Pharmaceutical Services | Reduce -19.7% | 0.15% | −0.01 |
| MNST Monster Beverage Corp. | Reduce -3.0% | 0.61% | −0.01 |
| CVX Chevron Corp. | Reduce -0.7% | 0.11% | +0.00 |
| MO Altria Group Inc. | Reduce -0.3% | 0.14% | +0.01 |
| TMO Thermo Fisher Scientific Inc. | Reduce -2.5% | 0.24% | +0.02 |
| FIVE Five Below | Reduce -5.9% | 0.47% | +0.02 |
| SNA Snap-on Inc. | Reduce -1.0% | 3.01% | +0.14 |
Portfolio Buys Q2 2025 → Q3 2025
| CNI Canadian Natl Railway Co. | New | 1.25% | +1.25 |
| UNH Unitedhealth Group Inc. | New | 1.18% | +1.18 |
| AAPL Apple Inc. | Add +2.7% | 6.35% | +1.10 |
| UNP Union Pacific Corp. | New | 1.10% | +1.10 |
| TMDX Transmedics Group Inc. | New | 0.78% | +0.78 |
| ABBV Abbvie Inc. | Add +1.5% | 3.41% | +0.58 |
| NVDA Nvidia Corp. | Add +7.6% | 2.16% | +0.37 |
| GD General Dynamics Corp. | Add +2.1% | 2.53% | +0.30 |
| JNJ Johnson & Johnson | Add +1.9% | 1.93% | +0.29 |
| QQQ Invesco QQQ Trust Series 1 | Add +8.8% | 2.00% | +0.22 |
| JPM JPMorgan Chase & Co. | Add +1.8% | 3.43% | +0.17 |
| AVGO Broadcom Inc. | Add +9.7% | 0.78% | +0.15 |
| HD Home Depot Inc. | Add +1.1% | 2.44% | +0.14 |
| GOOG Alphabet Inc. Class C | Add +25.3% | 0.35% | +0.14 |
| DELL Dell Technologies -C | Add +3.6% | 0.85% | +0.10 |
| BKE The Buckle Inc. | New | 0.10% | +0.10 |
| MSFT Microsoft Corp. | Add +2.6% | 6.32% | +0.09 |
| PLTR Palantir Technologies Inc. Class A | New | 0.09% | +0.09 |
| TSLA Tesla Inc. | New | 0.09% | +0.09 |
| ROST Ross Stores Inc. | Add +1.0% | 0.47% | +0.06 |
| PEP Pepsico Inc. | Add +2.0% | 2.05% | +0.06 |
| QCOM Qualcomm Inc. | Add +3.6% | 1.78% | +0.05 |
| AMD Advanced Micro Devices | Add +9.1% | 0.24% | +0.04 |
| AMAT Applied Materials Inc. | Add +12.3% | 0.12% | +0.02 |
| META Meta Platforms Inc. Class A | Add +8.8% | 0.55% | +0.02 |
| COIN Coinbase Global Inc. Class A | Add +7.0% | 0.11% | −0.00 |
| AMZN Amazon.com Inc. | Add +4.4% | 0.84% | −0.01 |
| PANW Palo Alto Networks Inc. | Add +2.6% | 0.38% | −0.01 |
| COST Costco Wholesale Corp. | Add +8.8% | 0.36% | −0.01 |
| CBZ Cbiz Inc. | Add +38.3% | 0.58% | −0.02 |
| AMGN Amgen Inc. | Add +3.1% | 1.96% | −0.02 |
| ADBE Adobe Inc. | Add +2.4% | 0.27% | −0.04 |
| VRTX Vertex Pharmaceuticals Inc. | Add +1.5% | 0.24% | −0.04 |
| INTU Intuit Inc. | Add +0.7% | 0.49% | −0.10 |
| BR Broadridge Financial Solutio | Add +1.5% | 1.95% | −0.11 |
| PG The Procter & Gamble Co. | Add +0.7% | 2.14% | −0.18 |
| TXN Texas Instruments Inc. | Add +3.6% | 1.66% | −0.25 |
| RSG Republic Services Inc. | Add +1.5% | 2.47% | −0.28 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 85 | $230.2M | AAPL, MSFT, ABBV, JPM, CSCO |
| Q1 2026 | 83 | $207.7M | AAPL, MSFT, ABBV, JPM, SNA |
| Q4 2025 | 104 | $246.2M | AAPL, MSFT, JPM, ABBV, WSM |
| Q3 2025 | 104 | $245.5M | AAPL, MSFT, WSM, JPM, ABBV |
| Q2 2025 | 101 | $233.2M | MSFT, AAPL, WSO, JPM, WSM |
| Q1 2025 | 94 | $225.1M | AAPL, MSFT, WSO, ABBV, WSM |
| Q4 2024 | 94 | $239.7M | AAPL, MSFT, WSM, WSO, SNA |
| Q3 2024 | 112 | $239.4M | AAPL, MSFT, WSO, WSM, MKC |
| Q2 2024 | 108 | $226.1M | MSFT, AAPL, WSM, WSO, QCOM |
| Q1 2024 | 97 | $218.9M | MSFT, WSM, AAPL, WSO, MKC |