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Kensington Asset Management, LLC

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13F filer, CIK 1979884, AUSTIN, TX

Kensington Asset Management, LLC reported holdings worth $1,935,119,235 (the sum of its rows) across 41 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-13. The total stated on the cover page is $1,739,437,433. Its ten largest share positions make up 74% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001979884-26-000002

The cover page states a total of $1,739,437,433, 10% less than the sum of the rows, $1,935,119,235. This page uses the sum of the rows.

Period
2025-12-31
Value, sum of rows
$1.94B
Stated on the cover page
$1.74B
Holdings
41
Top 10 weight
74%
New
6
Sold out
2

Largest buys vs the previous quarter

SecurityShares changeApprox. value
VOOadded+82,291$52M
VUSBadded+916,533$45.7M
USHYadded+687,678$25.7M
VNLAadded+466,093$22.9M
PULSadded+425,761$21.1M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
IEFexited-83,454-$8.05M
VGKexited-71,622-$5.72M
JHHYreduced-175,076-$4.52M
JSIreduced-28,228-$1.47M
SPYVreduced-9,995-$572K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001979884-26-000002, largest first. % of portfolio is the value over $1,935,119,235, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
VOOVANGUARD INDEX FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 968,982 shares; 2024Q4: 757,614 shares; 2025Q1: 208,811 shares; 2025Q2: 549,593 shares; 2025Q3: 607,767 shares; 2025Q4: 690,058 shares 690,058$436M22.53%+82,291Timeline
QQQINVESCO QQQ TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 684,154 shares; 2024Q4: 807,758 shares; 2025Q1: not reported; 2025Q2: 366,881 shares; 2025Q3: 367,902 shares; 2025Q4: 375,243 shares 375,243$232M12.01%+7,341Timeline
USHYISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,734,160 shares; 2024Q4: 4,734,160 shares; 2025Q1: 4,651,110 shares; 2025Q2: 3,795,450 shares; 2025Q3: 3,140,450 shares; 2025Q4: 3,828,128 shares 3,828,128$143M7.4%+687,678Timeline
MGKVANGUARD WORLD FDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 147,200 shares; 2024Q4: 4,500 shares; 2025Q1: not reported; 2025Q2: 261,800 shares; 2025Q3: 261,800 shares; 2025Q4: 261,800 shares 261,800$109M5.63%0Timeline
VUGVANGUARD INDEX FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 127,900 shares; 2024Q4: 108,320 shares; 2025Q1: not reported; 2025Q2: 217,710 shares; 2025Q3: 220,810 shares; 2025Q4: 220,810 shares 220,810$109M5.61%0Timeline
IWFISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 130,900 shares; 2024Q4: 88,650 shares; 2025Q1: not reported; 2025Q2: 224,830 shares; 2025Q3: 224,830 shares; 2025Q4: 224,830 shares 224,830$107M5.54%0Timeline
PULSPGIM ETF TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 264,464 shares; 2025Q2: not reported; 2025Q3: 1,162,387 shares; 2025Q4: 1,588,148 shares 1,588,148$78.7M4.07%+425,761Timeline
SPHYSPDR SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,179,100 shares; 2024Q4: 4,179,100 shares; 2025Q1: 4,179,100 shares; 2025Q2: 3,323,020 shares; 2025Q3: 3,170,930 shares; 2025Q4: 3,261,605 shares 3,261,605$77.3M3.99%+90,675Timeline
VNLAJANUS DETROIT STR TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 118,940 shares; 2025Q2: 348,807 shares; 2025Q3: 1,035,956 shares; 2025Q4: 1,502,049 shares 1,502,049$73.8M3.81%+466,093Timeline
FLTRVANECK ETF TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 947,498 shares; 2025Q3: 2,147,092 shares; 2025Q4: 2,589,451 shares 2,589,451$65.9M3.41%+442,359Timeline
JPSTJ P MORGAN EXCHANGE TRADED FQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 72,857 shares; 2025Q3: 1,080,232 shares; 2025Q4: 1,161,999 shares 1,161,999$59M3.05%+81,767Timeline
FLOTISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 158,447 shares; 2025Q2: 293,483 shares; 2025Q3: 1,089,966 shares; 2025Q4: 1,089,966 shares 1,089,966$55.4M2.86%0Timeline
VUSBVANGUARD BD INDEX FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 69,090 shares; 2025Q3: 189,035 shares; 2025Q4: 1,105,568 shares 1,105,568$55.1M2.85%+916,533Timeline
HYLBDBX ETF TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,209,900 shares; 2024Q4: 970,000 shares; 2025Q1: 970,000 shares; 2025Q2: 1,889,800 shares; 2025Q3: 1,322,962 shares; 2025Q4: 1,322,962 shares 1,322,962$48.8M2.52%0Timeline
ANGLVANECK ETF TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,369,726 shares; 2024Q4: 2,369,726 shares; 2025Q1: 2,219,726 shares; 2025Q2: 1,363,870 shares; 2025Q3: 1,363,870 shares; 2025Q4: 1,394,430 shares 1,394,430$41M2.12%+30,560Timeline
PYLDPIMCO ETF TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 762,781 shares; 2024Q4: 446,181 shares; 2025Q1: 319,651 shares; 2025Q2: 1,507,954 shares; 2025Q3: 1,443,355 shares; 2025Q4: 1,475,964 shares 1,475,964$39.6M2.05%+32,609Timeline
GSSTGOLDMAN SACHS ETF TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 470,267 shares; 2025Q3: 647,061 shares; 2025Q4: 708,974 shares 708,974$35.9M1.86%+61,913Timeline
YEARAB ACTIVE ETFS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 100,131 shares; 2025Q3: 497,486 shares; 2025Q4: 515,597 shares 515,597$26.1M1.35%+18,111Timeline
JSIJANUS DETROIT STR TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 215,100 shares; 2025Q2: 375,115 shares; 2025Q3: 383,352 shares; 2025Q4: 355,124 shares 355,124$18.5M0.96%-28,228Timeline
SPSMSPDR SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 178,825 shares; 2024Q4: 72,087 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 245,342 shares 245,342$11.6M0.6%newTimeline
SGOLETFS GOLD TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 315,113 shares; 2024Q4: 289,371 shares; 2025Q1: 280,678 shares; 2025Q2: not reported; 2025Q3: 170,684 shares; 2025Q4: 278,002 shares 278,002$11.5M0.59%+107,318Timeline
SPEMSPDR INDEX SHS FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 193,934 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 93,373 shares; 2025Q3: 126,629 shares; 2025Q4: 237,569 shares 237,569$11.1M0.57%+110,940Timeline
FLJPFRANKLIN TEMPLETON ETF TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 120,172 shares; 2025Q3: 166,439 shares; 2025Q4: 313,581 shares 313,581$10.8M0.56%+147,142Timeline
VCSHVANGUARD SCOTTSDALE FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 404,709 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 104,498 shares 104,498$8.34M0.43%newTimeline
JAAAJANUS DETROIT STR TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,469,882 shares; 2024Q4: 1,469,882 shares; 2025Q1: 1,050,087 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 161,644 shares 161,644$8.17M0.42%newTimeline
BKUIBNY MELLON ETF TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 124,401 shares; 2025Q2: 135,703 shares; 2025Q3: 138,713 shares; 2025Q4: 138,713 shares 138,713$6.9M0.36%0Timeline
VTIVANGUARD INDEX FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 13,900 shares; 2025Q4: 20,285 shares 20,285$6.85M0.35%+6,385Timeline
USIGISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 129,603 shares 129,603$6.73M0.35%newTimeline
VGSHVANGUARD SCOTTSDALE FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 87,874 shares 87,874$5.16M0.27%newTimeline
CDXSIMPLIFY EXCHANGE TRADED FUNQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 200,172 shares; 2025Q4: 218,669 shares 218,669$4.87M0.25%+18,497Timeline
CGUICAPITAL GRP FIXED INCM ETF TQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 59,931 shares; 2025Q3: 111,925 shares; 2025Q4: 184,915 shares 184,915$4.68M0.24%+72,990Timeline
JHHYJOHN HANCOCK EXCHANGE TRADEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 25,000 shares; 2024Q4: 25,000 shares; 2025Q1: 25,000 shares; 2025Q2: 25,000 shares; 2025Q3: 350,152 shares; 2025Q4: 175,076 shares 175,076$4.52M0.23%-175,076Timeline
XCCCBONDBLOXX ETF TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 10,906 shares; 2025Q3: 107,289 shares; 2025Q4: 107,289 shares 107,289$4.08M0.21%0Timeline
IGIBISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 42,264 shares; 2025Q4: 52,464 shares 52,464$2.84M0.15%+10,200Timeline
HDVISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,500 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 22,500 shares; 2025Q4: 22,450 shares 22,450$2.74M0.14%-50Timeline
BKGIBNY MELLON ETF TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 39,720 shares; 2025Q3: 43,846 shares; 2025Q4: 64,716 shares 64,716$2.62M0.14%+20,870Timeline
NUSBNUSHARES ETF TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 100,700 shares; 2025Q4: 100,700 shares 100,700$2.54M0.13%0Timeline
SPYVSPDR SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 51,875 shares; 2025Q4: 41,880 shares 41,880$2.4M0.12%-9,995Timeline
EMHYISHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 31,923 shares; 2025Q4: 53,432 shares 53,432$2.16M0.11%+21,509Timeline
EMBISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 10,680 shares; 2025Q3: 12,542 shares; 2025Q4: 16,462 shares 16,462$1.59M0.08%+3,920Timeline
NSCINUSHARES ETF TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 50,000 shares 50,000$1.26M0.06%newTimeline

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
IEFISHARES TR83,454$8.05Mshares
VGKVANGUARD INTL EQUITY INDEX F71,622$5.72Mshares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001979884-26-000002 base2026-02-13acceptance time not in the bulk data set