Kensington Asset Management, LLC Q3 2025 Filing

Filed November 12, 2025

Portfolio Value

$1.7T

Holdings

Report Date

Q3 2025

Filing Type

13F-HR

All Holdings (37 positions)

#	Stock	Shares	Value	% Portfolio
1	VOOVanguard	607,767	$372.2B	22.31%
2	NDQInvesco	367,902	$220.9B	13.24%
3	USHYiShares	3,140,450	$118.6B	7.11%
4	VUGVanguard	220,810	$105.9B	6.35%
5	MGKVanguard	261,800	$105.4B	6.31%
6	IWFiShares	224,830	$105.3B	6.31%
7	SPHYSPDR	3,170,930	$75.9B	4.55%
8	PULSPGIM	1,162,387	$57.9B	3.47%
9	FLOTiShares	1,089,966	$55.7B	3.34%
10	FLTRVanEck	2,147,092	$54.9B	3.29%
11	JPSTJPMorgan	1,080,232	$54.8B	3.28%
12	VNLAJanus Henderson	1,035,956	$51.1B	3.06%
13	HYLBXtrackers	1,322,962	$49.1B	2.94%
14	ANGLVanEck	1,363,870	$40.5B	2.43%
15	PYLDPIMCO	1,443,355	$38.7B	2.32%
16	GSSTGoldman Sachs	647,061	$32.8B	1.97%
17	YEARAB ACTIVE ETFS INC	497,486	$25.2B	1.51%
18	JSIJanus Henderson	383,352	$20.0B	1.20%
19	VUSBVanguard	189,035	$9.5B	0.57%
20	IEFiShares	83,454	$8.0B	0.48%
21	BKUIBNY Mellon	138,713	$6.9B	0.42%
22	SGOLabrdn	170,684	$6.3B	0.38%
23	SPEMSPDR	126,629	$5.9B	0.36%
24	FLJPFranklin	166,439	$5.8B	0.34%
25	VGKVanguard	71,622	$5.7B	0.34%
26	CDXSimplify	200,172	$4.6B	0.27%
27	JHHYJohn Hancock	350,152	$4.6B	0.27%
28	VTIVanguard	13,900	$4.6B	0.27%
29	XCCCBondBloxx	107,289	$4.2B	0.25%
30	SPYVSPDR	51,875	$2.9B	0.17%
31	CGUICapital Group	111,925	$2.8B	0.17%
32	HDViShares	22,500	$2.8B	0.17%
33	NUSBNuveen	100,700	$2.6B	0.15%
34	IGIBiShares	42,264	$2.3B	0.14%
35	BKGIBNY Mellon	43,846	$1.7B	0.10%
36	EMHYiShares	31,923	$1.3B	0.08%
37	EMBiShares	12,542	$1.2B	0.07%