# EDGAR Filing Document

**Accession Number:** 0001979884
**File Stem:** 0001979884-25-000007
**Filing Date:** 2025-8
**Character Count:** 6883
**Document Hash:** 46580c43dac3b0f2ce086cab8809768a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001979884-25-000007.hdr.sgml**: 20250812

**ACCESSION NUMBER**: 0001979884-25-000007

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250812

**DATE AS OF CHANGE**: 20250811

**EFFECTIVENESS DATE**: 20250812

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Kensington Asset Management, LLC
- **CENTRAL INDEX KEY:** 0001979884

**ORGANIZATION NAME:**
- **EIN:** 203861338
- **STATE OF INCORPORATION:** TX
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-23293
- **FILM NUMBER:** 251203215

**BUSINESS ADDRESS:**
- **STREET 1:** 901 S MOPAC EXPY
- **STREET 2:** BARTON OAKS PLAZA BLDG. II SUITE 225
- **CITY:** AUSTIN
- **STATE:** TX
- **ZIP:** 78746
- **BUSINESS PHONE:** 877.891.1222

**MAIL ADDRESS:**
- **STREET 1:** 901 S MOPAC EXPY
- **STREET 2:** BARTON OAKS PLAZA BLDG. II SUITE 225
- **CITY:** AUSTIN
- **STATE:** TX
- **ZIP:** 78746

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Kensington Asset Management LLC<br>**Address:** 901 S MOPAC EXPY<br>BARTON OAKS PLAZA BLDG. II SUITE 225<br>AUSTIN, TX 78746

**Form 13F File Number:** 028-23293

**CRD Number (if applicable):** 000309780

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Steven Byungkwan Chang<br>**Title:** Chief Compliance Officer<br>**Phone:** 5126617116

**Signature, Place, and Date of Signing:**

Steven Byungkwan Chang  AUSTIN, TX  08-11-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 29

**Form 13F Information Table Value Total:** $1324467230

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

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|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| Xtrackers | USD High Yield Corporate Bond ETF | 233051432 |  | 69771416 | 1889800 | SH |  | SOLE |  | 0 | 0 | 0 |
| Goldman Sachs | Ultra Short Bond ETF | 381430230 |  | 23778581 | 470267 | SH |  | SOLE |  | 0 | 0 | 0 |
| iShares | 7-10 Year Treasury Bond ETF | 464287440 |  | 14066219 | 146875 | SH |  | SOLE |  | 0 | 0 | 0 |
| iShares | Russell 1000 Growth ETF | 464287614 |  | 95458321 | 224830 | SH |  | SOLE |  | 0 | 0 | 0 |
| iShares | J.P. Morgan USD Emerging Markets Bond ETF | 464288281 |  | 989182 | 10680 | SH |  | SOLE |  | 0 | 0 | 0 |
| Vanguard | Mega Cap Growth ETF | 921910816 |  | 95863306 | 261800 | SH |  | SOLE |  | 0 | 0 | 0 |
| Vanguard | FTSE Europe ETF | 922042874 |  | 3854618 | 49737 | SH |  | SOLE |  | 0 | 0 | 0 |
| Vanguard | S 500 ETF | 922908363 |  | 312185312 | 549593 | SH |  | SOLE |  | 0 | 0 | 0 |
| Vanguard | Growth ETF | 922908736 |  | 95444064 | 217710 | SH |  | SOLE |  | 0 | 0 | 0 |
| Invesco | QQQ Trust Series 1 | 46090E103 |  | 202386235 | 366881 | SH |  | SOLE |  | 0 | 0 | 0 |
| AB Active ETFS Inc | Ultra Short Income ETF | 00039J103 |  | 5072637 | 100131 | SH |  | SOLE |  | 0 | 0 | 0 |
| BNY Mellon | Global Infrastructure Income ETF | 09661T826 |  | 1560202 | 39720 | SH |  | SOLE |  | 0 | 0 | 0 |
| BNY Mellon | Ultra Short Income ETF | 09661T859 |  | 6768866 | 135703 | SH |  | SOLE |  | 0 | 0 | 0 |
| BondBloxx | CCC-Rated USD High Yield Corporate Bond ETF | 09789C887 |  | 423371 | 10906 | SH |  | SOLE |  | 0 | 0 | 0 |
| Capital Group | Ultra Short Income ETF | 14020Y888 |  | 1512059 | 59931 | SH |  | SOLE |  | 0 | 0 | 0 |
| Franklin | FTSE Japan ETF | 35473P744 |  | 3863530 | 120172 | SH |  | SOLE |  | 0 | 0 | 0 |
| iShares | Floating Rate Bond ETF | 46429B655 |  | 14973503 | 293483 | SH |  | SOLE |  | 0 | 0 | 0 |
| iShares | MSCI USA Min Vol Factor ETF | 46429B697 |  | 2251003 | 23980 | SH |  | SOLE |  | 0 | 0 | 0 |
| iShares | Broad USD High Yield Corporate Bond ETF | 46435U853 |  | 142367330 | 3795450 | SH |  | SOLE |  | 0 | 0 | 0 |
| JPMorgan | Ultra-Short Income ETF | 46641Q837 |  | 3692393 | 72857 | SH |  | SOLE |  | 0 | 0 | 0 |
| Janus Detroit STR TR | Securitized Income ETF | 47103U746 |  | 19738552 | 375115 | SH |  | SOLE |  | 0 | 0 | 0 |
| Janus Detroit STR TR | Short Duration Income ETF | 47103U886 |  | 17161304 | 348807 | SH |  | SOLE |  | 0 | 0 | 0 |
| John Hancock | High Yield ETF | 47804J719 |  | 645003 | 25000 | SH |  | SOLE |  | 0 | 0 | 0 |
| PIMCO | Multisector Bond Active ETF | 72201R585 |  | 40021099 | 1507954 | SH |  | SOLE |  | 0 | 0 | 0 |
| SPDR | Portfolio Emerging Markets ETF | 78463X509 |  | 3990762 | 93373 | SH |  | SOLE |  | 0 | 0 | 0 |
| SPDR | Portfolio High Yield Bond ETF | 78468R606 |  | 79087876 | 3323020 | SH |  | SOLE |  | 0 | 0 | 0 |
| VanEck | Fallen Angel High Yield Bond ETF | 92189F437 |  | 39934114 | 1363870 | SH |  | SOLE |  | 0 | 0 | 0 |
| VanEck | IG Floating Rate ETF | 92189F486 |  | 24161199 | 947498 | SH |  | SOLE |  | 0 | 0 | 0 |
| Vanguard | Ultra Short Bond ETF | 92203C303 |  | 3445173 | 69090 | SH |  | SOLE |  | 0 | 0 | 0 |

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