KITCHING PARTNERS, LLC

CONSHOHOCKEN, PA · CIK 2010145 · 13F filing filed 2025-08-14

SEC-registered investment adviser since 2023 · limited liability company

Assets managed$645.9m
Staff19 · 5 in investment roles
Main clients (by assets)High net worth individuals 100%
Form ADV · 2026-03-25SEC adviser record

$98.5m reported value +13.4% vs Q1 2025

35positions

87.5%in top 10

3 new 21 added 5 reduced 3 sold out vs Q1 2025

Holdings, Q2 2025

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	VANGUARD SPECIALIZED FUNDS DIV APP ETF VIG	VIG	79,259	$16.2m16.46%	16.46%	Added +4.3k	+4,275 5.7%
2	VANGUARD TAX-MANAGED FDS VAN FTSE DEV MKT VEA	VEA	193,555	$11.0m11.20%	11.20%	Added +32.8k	+32,772 20.4%
3	VANGUARD BD INDEX FDS VANGUARD ULTRA VUSB	VUSB	206,287	$10.3m10.44%	10.44%	Added +12.6k	+12,610 6.5%
4	SPDR SER TR S&P DIVID ETF SDY	SDY	74,269	$10.1m10.23%	10.23%	Added +2.4k	+2,435 3.4%
5	ISHARES TR 0-5YR HI YL CP SHYG	SHYG	225,023	$9.7m9.85%	9.85%	Added +10.4k	+10,384 4.8%
6	VANGUARD INDEX FDS S&P 500 ETF SHS VOO	VOO	16,225	$9.2m9.35%	9.35%	Added +1.9k	+1,886 13.2%
7	ISHARES GOLD TR ISHARES NEW IAU	IAU	105,409	$6.6m6.67%	6.67%	Added +3.4k	+3,446 3.4%
8	VANGUARD WHITEHALL FDS EM MK GOV BD ETF VWOB	VWOB	67,957	$4.4m4.51%	4.51%	Added +892	+892 1.3%
9	VANGUARD SCOTTSDALE FDS LONG TERM TREAS VGLT	VGLT	78,012	$4.4m4.44%	4.44%	Added +2.4k	+2,351 3.1%
10	VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF VWO	VWO	85,777	$4.2m4.31%	4.31%	Added +6.6k	+6,575 8.3%
11	VANGUARD INDEX FDS VALUE ETF VTV	VTV	8,192	$1.4m1.47%	1.47%	Added +2.8k	+2,753 50.6%
12	VANGUARD INDEX FDS GROWTH ETF VUG	VUG	2,917	$1.3m1.30%	1.30%	Reduced -112	-112 -3.7%
13	KRANESHARES TRUST KFA MOUNT LUCAS KMLM	KMLM	41,648	$1.1m1.11%	1.11%	Added +3.1k	+3,103 8.1%
14	NVIDIA CORPORATION COM NVDA	NVDA	6,067	$958.5k0.97%	0.97%	Unchanged
15	NEXTNAV INC COMMON STOCK NN	NN	50,193	$762.9k0.77%	0.77%	Added +10.0k	+10,000 24.9%
16	MICROSOFT CORP COM MSFT	MSFT	1,505	$748.6k0.76%	0.76%	Added +114	+114 8.2%
17	AMAZON COM INC COM AMZN	AMZN	3,271	$717.6k0.73%	0.73%	Reduced -908	-908 -21.7%
18	VANGUARD SCOTTSDALE FDS SHORT TERM TREAS VGSH	VGSH	10,232	$601.4k0.61%	0.61%	Added +6.5k	+6,480 172.7%
19	AMERICAN EXPRESS CO COM AXP	AXP	1,391	$443.7k0.45%	0.45%	Added +563	+563 68.0%
20	VANGUARD INDEX FDS SMALL CP ETF VB	VB	1,635	$387.4k0.39%	0.39%	Unchanged
21	NEXTNAV INC W EXP 99/99/999 W EXP 99/99/999		56,649	$359.7k0.37%	0.37%	Added +10.0k	+10,000 21.4%
22	CSX CORP COM CSX	CSX	10,894	$355.5k0.36%	0.36%	Added +44	+44 0.4%
23	PHILIP MORRIS INTL INC COM PM	PM	1,817	$330.9k0.34%	0.34%	Unchanged
24	META PLATFORMS INC CL A META	META	442	$326.2k0.33%	0.33%	New
25	PALANTIR TECHNOLOGIES INC CL A PLTR	PLTR	2,386	$325.3k0.33%	0.33%	New
26	APPLE INC COM AAPL	AAPL	1,565	$321.1k0.33%	0.33%	Reduced -255	-255 -14.0%
27	EASTERN BANKSHARES INC COM EBC	EBC	20,077	$306.6k0.31%	0.31%	Added +175	+175 0.9%
28	KONINKLIJKE PHILIPS N V NY REGIS SHS NEW PHG	PHG	11,259	$270.0k0.27%	0.27%	Added +457	+457 4.2%
29	ISHARES TR CORE HIGH DV ETF HDV	HDV	1,991	$233.3k0.24%	0.24%	Reduced -710	-710 -26.3%
30	FISERV INC COM FISV	FISV	1,284	$221.4k0.22%	0.22%	Added +31	+31 2.5%
31	NETFLIX INC COM NFLX	NFLX	162	$216.9k0.22%	0.22%	New
32	SHERWIN WILLIAMS CO COM SHW	SHW	602	$206.7k0.21%	0.21%	Reduced -45	-45 -7.0%
33	AMPLIFY ETF TR AMPLIFY JUNIOR S SILJ	SILJ	12,583	$186.2k0.19%	0.19%	Unchanged
34	BIGBEAR AI HLDGS INC COM BBAI	BBAI	20,410	$138.6k0.14%	0.14%	Unchanged
35	ORLA MNG LTD NEW COM OLA	OLA	12,018	$120.4k0.12%	0.12%	Unchanged

Sold out since Q1 2025

Security	Ticker	Shares held before	Value then
UNITEDHEALTH GROUP INC UNH	UNH	485	$254.0k485 shares
SCHWAB CHARLES CORP SCHW	SCHW	2,987	$233.8k3.0k shares
BROADCOM INC AVGO	AVGO	1,292	$216.3k1.3k shares