Kensington Asset Management, LLC

Registered adviser

CIK

1979884

Location

AUSTIN, TX

Portfolio Value

Mid $1,833,971,288

Diversification

Diversified

Filing Date

Global Rank

#1,697 / 8,827 ▼ 151

Top Industry

Asset Management 100.0%

Period ended 4 months ago

Filed Aug 12, 2026 · 3mo

17 quarters · since Dec 2021

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Nov 1, 2026

Form ADV adviser

CRD 309780

Roster of Nov 1, 2026

Regulatory AUM

$2,557,083,742

Main clients

Registered funds and BDCs (100% of AUM)

Registered funds advised

6 series (0 index, 2 ETFs)

$2,078,803,434 net assets· N-CEN Dec 31, 2025

LEI

98450047B9147EABFC28

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Nov 2026	$2,557,083,742	Registered funds and BDCs (100%)
Apr 2025 to Mar 2026	$1,898,190,013	Registered funds and BDCs (100%)
Apr 2024 to Mar 2025	$2,065,650,046	Registered funds and BDCs (100%)
May 2023 to Mar 2024	$1,924,707,412	Registered funds and BDCs (100%)
Apr 2023	$1,924,707,412	Registered funds and BDCs (100%)
Apr 2022 to Mar 2023	$1,169,995,545	Registered funds and BDCs (100%)

4 earlier changes not shown.

Stated strategy

Quantitative / systematic, Income, Fixed income / rates, Multi-asset, Long/short hedge Form ADV Part 2A, Aug 3, 2026 · original

In the firm's words

Quantitative / systematic: quantitative methods in managing the Funds, developing models and evaluations
Income: The Managed Income Strategy seeks current income with the potential for capital appreciation.
Fixed income / rates: an unconstrained, actively managed fixed‑income approach that adjusts exposures across multiple sectors
Multi-asset: a momentum‑based, global multi‑asset allocation—reviewed monthly—with a defensive framework.
Long/short hedge: The strategy may seek opportunities both long and short

Schedule 13D/13G stakes

Stakes of 5% or more disclosed on Schedule 13D or 13G, each on the filer's latest filing for the security. These are event-dated stakes, not the quarter-end 13F portfolio below.

Company	Schedule	Event date	Filed	Shares	% of class	Change	Status
HARD now AGGH Simplify Exchange Traded Funds	13G/A	Feb 24, 2025	1y	115,434	100%	-115,435 since Feb 4, 2025	Current

A 13D or 13G stays in force until its filer amends it and no amendment is due without a material change, so a stake with no filing in 24 months reads unconfirmed, never sold. An amendment reporting under 5% ends the filer's duty to amend, not necessarily the holding. Shares are restated onto today's split basis.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Concentrated

The top 10 positions are 88.4% of the book (60%+)

Turnover

Medium turnover

43.1% over the last four quarters (30% to under 100%)

Horizon

Medium horizon

Value-weighted holding period 7.8 quarters (4 to under 12)

Closest benchmark: every 13F filer's combined book, active share 91.7%; sector active share 87.0% against the combined 13F book's sector weights.

Over time 17 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

39 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

23.6%

−3.4 pts

Top 5

64.4%

+1.1 pts

Top 10

88.4%

−0.1 pts

HHI

1,137

Diversified−89

Portfolio Trend

17 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Unclassified	99.9%	$1,831,995,525	38
Financial Services	0.1%	$1,975,763	1

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
VUSB	VANGUARD ULTRA-SHORT BOND ETF	+1,271,900	4,125,497	$205,367,240
PULS	PGIM Ultra Short Bond ETF	+1,180,897	4,407,675	$218,400,296
JPST	JPMorgan Ultra-Short Income ETF	+706,414	2,701,053	$136,592,250
FLOT	iShares Floating Rate Bond ETF	+576,500	2,101,238	$107,268,199
FLTR	VanEck IG Floating Rate ETF	+325,573	3,314,952	$84,895,920
SPHY	State Street(R) SPDR(R) Portfolio High Yield Bond ETF	+325,000	3,453,978	$80,961,244
PDBC	Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF	+223,100	392,091	$6,226,405
JAAA	Janus Henderson AAA CLO ETF	+179,521	623,470	$31,479,000
VGSH	VANGUARD SHORT-TERM TREASURY INDEX FUND	+172,108	511,014	$29,741,014
VGIT	VANGUARD INTERMEDIATE-TERM TREASURY INDEX FUND	+165,748	435,894	$25,709,028
—		+164,956	188,695	$5,172,129
HYLB	Xtrackers USD High Yield Corporate Bond ETF	+150,000	1,272,962	$46,488,572
YEAR	AB Ultra Short Income ETF	+150,000	869,794	$43,785,429
VNLA	Janus Henderson Short Duration Income ETF	+136,679	2,028,176	$99,106,820
CGUI	Capital Group Ultra Short Income ETF	+100,000	284,915	$7,202,651
GSST	Goldman Sachs Ultra Short Bond ETF	+86,753	905,991	$45,820,494
FLJP	Franklin FTSE Japan ETF	+77,100	158,041	$6,282,129
SPEM	State Street(R) SPDR(R) Portfolio Emerging Markets ETF	+61,500	123,770	$6,408,810
—		+50,800	111,072	$6,405,522
PYLD		+50,000	1,740,431	$46,156,230
BKGI	BNY Mellon Global Infrastructure Income ETF	+25,968	94,680	$4,257,759
FRDM	Freedom 100 Emerging Markets ETF	+25,200	33,316	$2,428,736
EMHY	iShares J.P. Morgan EM High Yield Bond ETF	+25,000	81,603	$3,318,794
IDMO	Invesco Ltd.	+21,600	32,771	$1,975,763
VGLT	VANGUARD LONG-TERM TREASURY INDEX FUND	+13,822	83,744	$4,620,993
No positions match the current search.

Trimmed

Positions the filer reduced

5 positions

Ticker	Company	Δ Shares	Shares	Value
QQQ	Invesco Qqq Trust, Series 1	−339,230	8,100	$5,964,840
VOO	VANGUARD 500 INDEX FUND	−200,014	609,865	$418,861,380
SGOL	abrdn Gold ETF Trust	−160,765	86,301	$3,299,287
JHHY	John Hancock High Yield ETF	−150,000	25,281	$646,258
USHY	iShares Broad USD High Yield Corporate Bond ETF	−77,500	2,140,983	$79,259,190
No positions match the current search.

New Positions

Positions the filer opened this quarter

3 positions

Ticker	Shares	Value
IALT	120,000	$3,366,000
CTAP	100,000	$2,641,000
LONZ	9,509	$468,888
No positions match the current search.

Sold Out

Positions the filer fully exited

5 positions

Ticker	Company	Shares	Value
JSI	Janus Henderson Securitized Income ETF	264,409	$13,630,283
VGK	VANGUARD EUROPEAN STOCK INDEX FUND	34,830	$2,871,036
IGIB	iShares 5-10 Year Investment Grade Corporate Bond ETF	52,464	$2,792,134
SPYV	State Street(R) SPDR(R) Portfolio S&P 500(R) Value ETF	41,880	$2,369,570
XCCC	BondBloxx CCC Rated USD High Yield Corporate Bond ETF	9,167	$333,678
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

39 tracked positions · $1,833,971,288 total · filing declares 39 positions · $1,833,970,787 · as of Jun 30, 2026

All sectors Financial Services

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
VOO	VANGUARD 500 INDEX FUND	Reduced	609,865	-200,014	$418,861,380	−13.4%	14	before history	22.84%
PULS	PGIM Ultra Short Bond ETF	Added	4,407,675	+1,180,897	$218,400,296	+36.7%	4	$49.67	11.91%
VUSB	VANGUARD ULTRA-SHORT BOND ETF	Added	4,125,497	+1,271,900	$205,367,240	+44.6%	5	$49.82	11.20%
JPST	JPMorgan Ultra-Short Income ETF	Added	2,701,053	+706,414	$136,592,250	+35.3%	5	$50.60	7.45%
FLOT	iShares Floating Rate Bond ETF	Added	2,101,238	+576,500	$107,268,199	+38.1%	6	unpriced	5.85%
VNLA	Janus Henderson Short Duration Income ETF	Added	2,028,176	+136,679	$99,106,820	+7.2%	6	$49.13	5.40%
FLTR	VanEck IG Floating Rate ETF	Added	3,314,952	+325,573	$84,895,920	+11.5%	5	$25.47	4.63%
SPHY	State Street(R) SPDR(R) Portfolio High Yield Bond ETF	Added	3,453,978	+325,000	$80,961,244	+11.0%	11	$22.98	4.41%
USHY	iShares Broad USD High Yield Corporate Bond ETF	Reduced	2,140,983	-77,500	$79,259,190	−3.0%	11	unpriced	4.32%
HYLB	Xtrackers USD High Yield Corporate Bond ETF	Added	1,272,962	+150,000	$46,488,572	+14.5%	11	$35.39	2.53%
PYLD		Added	1,740,431	+50,000	$46,156,230	+4.2%	8	$26.20	2.52%
GSST	Goldman Sachs Ultra Short Bond ETF	Added	905,991	+86,753	$45,820,494	+10.6%	5	$50.47	2.50%
YEAR	AB Ultra Short Income ETF	Added	869,794	+150,000	$43,785,429	+20.5%	5	$50.51	2.39%
ANGL	VanEck Fallen Angel High Yield Bond ETF	Held	1,244,430	0	$36,387,133	+1.8%	11	unpriced	1.98%
JAAA	Janus Henderson AAA CLO ETF	Added	623,470	+179,521	$31,479,000	+40.8%	3	$50.61	1.72%
VGSH	VANGUARD SHORT-TERM TREASURY INDEX FUND	Added	511,014	+172,108	$29,741,014	+49.9%	3	$58.58	1.62%
VGIT	VANGUARD INTERMEDIATE-TERM TREASURY INDEX FUND	Added	435,894	+165,748	$25,709,028	+59.8%	2	$59.59	1.40%
VTI	VANGUARD TOTAL STOCK MARKET INDEX FUND	Held	38,539	0	$14,260,971	+15.3%	4	unpriced	0.78%
BKUI	BNY Mellon Ultra Short Income ETF	Added	147,692	+8,979	$7,350,335	+6.4%	6	unpriced	0.40%
CGUI	Capital Group Ultra Short Income ETF	Added	284,915	+100,000	$7,202,651	+54.1%	5	$25.30	0.39%
SPEM	State Street(R) SPDR(R) Portfolio Emerging Markets ETF	Added	123,770	+61,500	$6,408,810	+119.4%	5	$47.58	0.35%
		Added	111,072	+50,800	$6,405,522	+119.9%	3	$49.73	0.35%
FLJP	Franklin FTSE Japan ETF	Added	158,041	+77,100	$6,282,129	+114.5%	5	$35.93	0.34%
PDBC	Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF	Added	392,091	+223,100	$6,226,405	+112.7%	2	$16.50	0.34%
QQQ	Invesco Qqq Trust, Series 1	Reduced	8,100	-339,230	$5,964,840	−97.0%	5	$499.83	0.33%
		Added	188,695	+164,956	$5,172,129	+702.7%	4	unpriced	0.28%
VGLT	VANGUARD LONG-TERM TREASURY INDEX FUND	Added	83,744	+13,822	$4,620,993	+19.4%	2	$55.93	0.25%
BKGI	BNY Mellon Global Infrastructure Income ETF	Added	94,680	+25,968	$4,257,759	+39.1%	5	unpriced	0.23%
IALT		NEW	120,000	NEW	$3,366,000	NEW	1	$28.05	0.18%
EMHY	iShares J.P. Morgan EM High Yield Bond ETF	Added	81,603	+25,000	$3,318,794	+48.9%	4	$39.88	0.18%
SGOL	abrdn Gold ETF Trust	Reduced	86,301	-160,765	$3,299,287	−70.1%	4	$35.54	0.18%
CTAP		NEW	100,000	NEW	$2,641,000	NEW	1	$29.44	0.14%
NUSB	Nuveen Ultra Short Income ETF	Held	100,700	0	$2,543,984	−0.0%	4	$25.28	0.14%
FRDM	Freedom 100 Emerging Markets ETF	Added	33,316	+25,200	$2,428,736	+447.6%	2	$64.49	0.13%
IDMO	Invesco Ltd. Financial Services	Added	32,771	+21,600	$1,975,763	+222.5%	2	$58.63	0.11%
EMB	iShares J.P. Morgan USD Emerging Markets Bond ETF	Held	16,462	0	$1,587,595	+2.7%	5	unpriced	0.09%
NSCI	Nuveen Securitized Income ETF	Held	50,000	0	$1,263,000	+0.3%	3	$25.16	0.07%
JHHY	John Hancock High Yield ETF	Reduced	25,281	-150,000	$646,258	−85.5%	8	$25.94	0.04%
LONZ		NEW	9,509	NEW	$468,888	NEW	1	$49.42	0.03%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.