Henshaw Capital LLC

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 28, 2026), Henshaw Capital LLC reported 292 stock positions worth $2.3 billion. Its top holding was Apple (AAPL) at 6.3% of the portfolio, followed by Nvidia (NVDA, 5.0%) and Eli Lilly (LLY, 4.3%). Compared with Q4 2024, it opened 10 new positions, sold out of 16, added to 115 and reduced 17. The biggest buy was a new position in Global X Defense Tech ETF (SHLD) and the biggest sale an exit from Vngrd Mrngst SL-CP Val ETF-U (VBR).

Most Recent 13F
Q2 2026
Location
WOBURN, MA
CIK
0002131483
Portfolio Value
$2.3B (Q1 2025)
SEC Filing
0002131483-26-000047 ↗ filed May 28, 2026

Holdings Value

0$1.0B$2.0B$3.0B$4.0B Q1 2024: $2.1B Q1 2024 Q2 2024: $2.2B Q2 2024 Q3 2024: $2.4B Q3 2024 Q4 2024: $2.4B Q4 2024 Q1 2025: $2.3B $2.3B Q1 2025 Q2 2025: $2.5B Q2 2025 Q3 2025: $2.7B Q3 2025 Q4 2025: $2.8B Q4 2025 Q1 2026: $2.7B Q1 2026 Q2 2026: $3.1B Q2 2026

Holdings 292 stocks · $2.3B
AAPL Apple Inc. 6.29% 643,494 $142.9M No change
NVDA Nvidia Corp. 4.95% 1,038,197 $112.5M No change
LLY Eli Lilly & Co. 4.28% 117,776 $97.3M No change
JPM JPMorgan Chase & Co. 3.64% 337,139 $82.7M No change
EUSA iShares MSCI USA Equal Weigh 3.19% 774,400 $72.5M Add +8.9%
MSFT Microsoft Corp. 3.09% 186,668 $70.1M No change
META Meta Platforms Inc. Class A 2.93% 115,400 $66.5M No change
BLK BlackRock Inc. 2.81% 67,390 $63.8M No change
ADP Automatic Data Processing 2.73% 202,692 $61.9M No change
AMZN Amazon.com Inc. 2.71% 323,174 $61.5M No change
CRM Salesforce Inc. 2.56% 216,400 $58.1M No change
WMT Walmart Inc. 2.36% 609,255 $53.5M No change
GE General Electric filed as GE AEROSPACE 2.19% 248,000 $49.6M No change
HD Home Depot Inc. 1.96% 121,503 $44.5M No change
GOOG Alphabet Inc. Class C 1.95% 283,860 $44.3M No change
GOOGL Alphabet Inc. Class A 1.91% 280,000 $43.3M No change
ORCL Oracle Corp. 1.86% 301,669 $42.2M No change
TMO Thermo Fisher Scientific Inc. 1.81% 82,609 $41.1M No change
PANW Palo Alto Networks Inc. 1.79% 238,550 $40.7M No change
MCD McDonald's Corp. 1.77% 128,519 $40.1M No change
MDY State Street SPDR S&P Midcap 1.76% 75,050 $40.0M No change
UNP Union Pacific Corp. 1.76% 169,273 $40.0M No change
AFL Aflac Inc. 1.65% 337,000 $37.5M No change
SHLD Global X Defense Tech ETF 1.56% 759,000 $35.3M New
XOM Exxon Mobil Corp. 1.39% 266,000 $31.6M No change
HON Honeywell International Inc. 1.34% 144,151 $30.5M Add +5.2%
BRK.B Berkshire Hathaway Inc. Class B 1.21% 51,650 $27.5M No change
AXP American Express Co. 1.17% 98,805 $26.6M No change
MAR Marriott International Class A 1.14% 109,000 $26.0M No change
AMAT Applied Materials Inc. 1.09% 171,300 $24.9M No change
V Visa Inc. Class A 1.07% 69,467 $24.3M No change
SHEL Shell PLC-ADR 1.06% 329,956 $24.2M Add +1852.1%
KO The Coca-Cola Co. 1.06% 335,497 $24.0M Reduce -0.8%
CSCO Cisco Systems Inc. 0.99% 364,504 $22.5M No change
DOV Dover Corp. 0.96% 124,025 $21.8M No change
BA The Boeing Co. 0.91% 120,553 $20.6M No change
SBUX Starbucks Corp. 0.87% 200,353 $19.7M No change
PEP Pepsico Inc. 0.86% 130,666 $19.6M No change
GEV GE Vernova Inc. 0.83% 62,000 $18.9M No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.82% 188,350 $18.6M No change
CDNS Cadence Design SYS Inc. 0.79% 70,910 $18.0M No change
SPY SS SPDR S&P 500 ETF Trust-US 0.76% 30,900 $17.3M No change
MDLZ Mondelez International Inc. Class A 0.75% 249,700 $16.9M No change
FDX FedEx Corp. 0.73% 68,227 $16.6M No change
GD General Dynamics Corp. 0.71% 59,000 $16.1M Reduce -58.5%
MRVL Marvell Technology Inc. 0.65% 238,382 $14.7M No change
CAT Caterpillar Inc. 0.64% 44,335 $14.6M Add +30.2%
COP Conocophillips 0.55% 118,500 $12.4M No change
C Citigroup Inc. 0.54% 174,000 $12.4M No change
MPC Marathon Petroleum Corp. 0.50% 78,589 $11.4M No change
EMR Emerson Electric Co. 0.41% 85,000 $9.3M No change
VRT Vertiv Holdings Co. Class A 0.35% 111,375 $8.0M No change
VWO Vanguard Ftse Emerging Marke 0.30% 150,000 $6.8M No change
WRB WR Berkley Corp. filed as BERKLEY W R CORP 0.30% 95,335 $6.8M Reduce -16.8%
SPHQ Invesco S&P 500 Quality ETF 0.29% 100,000 $6.6M No change
CSL Carlisle Cos Inc. 0.24% 15,965 $5.4M Add +7.5%
GDDY GoDaddy Inc. Class A 0.23% 29,265 $5.3M Add +3.2%
MORN Morningstar Inc. 0.19% 14,593 $4.4M Add +8.2%
TSM Taiwan Semiconductor-SP ADR 0.17% 23,884 $4.0M Add +54.2%
CACI Caci International Inc. Class A 0.17% 10,595 $3.9M Add +9.6%
MKL Markel Group Inc. 0.17% 2,062 $3.9M Reduce -16.7%
TRMB Trimble Inc. 0.17% 58,589 $3.8M Add +22.2%
DLB Dolby Laboratories Inc. Class A 0.16% 45,913 $3.7M No change
CASY Casey's General Stores Inc. 0.16% 8,490 $3.7M No change
BURL Burlington Stores Inc. 0.15% 14,217 $3.4M Add +10.4%
SEIC Sei Investments Company 0.15% 42,594 $3.3M Reduce -1.1%
BRO Brown & Brown Inc. 0.14% 26,206 $3.3M Reduce -28.2%
LII Lennox International Inc. 0.14% 5,561 $3.1M Add +0.2%
RPM RPM International Inc. 0.14% 26,939 $3.1M Add +0.4%
BAH Booz Allen Hamilton Holdings 0.14% 29,406 $3.1M No change
ATR Aptargroup Inc. 0.13% 20,618 $3.1M Add +0.3%
LKQ LKQ Corp. 0.13% 71,263 $3.0M Reduce -29.5%
CHH Choice Hotels Intl Inc. 0.13% 22,369 $3.0M No change
TFX Teleflex Inc. 0.12% 19,839 $2.7M Add +0.2%
ARMK Aramark 0.12% 76,054 $2.6M Add +0.3%
EWJ iShares MSCI Japan ETF 0.12% 38,288 $2.6M Add +69.3%
TRU Transunion 0.12% 31,489 $2.6M Add +18.4%
LSTR Landstar System Inc. 0.11% 16,245 $2.4M Add +1.4%
JLL Jones Lang Lasalle Inc. 0.10% 9,272 $2.3M No change
VZ Verizon Communications Inc. 0.10% 50,000 $2.3M No change
NGG National Grid PLC-SP ADR 0.10% 34,333 $2.3M Add +70.4%
MUFG Mitsubishi Ufj Finl-Spon ADR 0.10% 159,608 $2.2M Add +64.8%
COLM Columbia Sportswear Co. 0.09% 28,462 $2.2M Add +0.4%
AMG Affiliated Managers Group 0.09% 12,715 $2.1M Reduce -25.2%
AVY Avery Dennison Corp. 0.09% 11,826 $2.1M Add +18.1%
AZN Astrazeneca PLC-Spons ADR 0.09% 28,420 $2.1M Add +147.6%
BABA Alibaba Group Holding-SP ADR 0.09% 15,627 $2.1M Add +65.3%
IEX Idex Corp. 0.09% 11,347 $2.1M Add +0.3%
KEX Kirby Corp. 0.09% 20,065 $2.0M Add +23.1%
VTWO Vanguard Russell 2000 ETF 0.09% 24,900 $2.0M No change
HSBC HSBC Holdings PLC-Spons ADR filed as HSBC HLDGS PLC 0.09% 34,163 $2.0M Add +51.2%
WEX Wex Inc. 0.09% 12,378 $1.9M No change
SAP Sap SE-Sponsored ADR 0.08% 7,101 $1.9M Add +68.7%
QUAL iShares MSCI USA Quality Fac 0.08% 11,000 $1.9M No change
JBHT Hunt (jb) Transprt SVCS Inc. 0.08% 12,378 $1.8M Add +0.3%
SONY Sony Group Corp. - SP ADR 0.08% 70,592 $1.8M Add +58.1%
RELX Relx PLC - Spon ADR 0.08% 35,400 $1.8M Add +59.6%
JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC 0.08% 9,709 $1.8M Add +23.9%
BLKB Blackbaud Inc. 0.08% 28,299 $1.8M Add +21.0%
NDSN Nordson Corp. 0.07% 8,058 $1.6M Add +0.4%

Show all 292 holdings

Portfolio Sells Q4 2024 → Q1 2025
VBR Vngrd Mrngst SL-CP Val ETF-U Sold out 0.00% −1.46
GD General Dynamics Corp. Reduce -58.5% 0.71% −0.85
CMCSA Comcast Corp. Class A Sold out 0.00% −0.78
AMGN Amgen Inc. Sold out 0.00% −0.76
SUM Summit Materials Inc. Class A Sold out 0.00% −0.05
AMG Affiliated Managers Group Reduce -25.2% 0.09% −0.04
DEO Diageo PLC-Sponsored ADR Sold out 0.00% −0.02
ASHR Xtrackers Harvest Csi 300 CH Sold out 0.00% −0.02
EAT Brinker International Inc. Reduce -51.5% 0.03% −0.02
IBTX Independent Bank Group Inc. Sold out 0.00% −0.02
LKQ LKQ Corp. Reduce -29.5% 0.13% −0.02
SHOO Steven Madden Ltd. Reduce -16.5% 0.02% −0.02
TYL Tyler Technologies Inc. Reduce -26.9% 0.07% −0.02
GLOB Globant SA Sold out 0.00% −0.02
PJT PJT Partners Inc. Class A Reduce -53.8% 0.01% −0.01
ITCI Intra-Cellular Therapies Inc. Sold out 0.00% −0.01
BRO Brown & Brown Inc. Reduce -28.2% 0.14% −0.01
ARCB Arcbest Corp. Sold out 0.00% −0.01
SPT Sprout Social Inc. Class A Sold out 0.00% −0.01
DAN Dana Inc. Sold out 0.00% −0.01
RXO Rxo Inc. Sold out 0.00% −0.01
MBUU Malibu Boats Inc. Class A Sold out 0.00% −0.01
STNG Scorpio Tankers Inc. Sold out 0.00% −0.01
MKL Markel Group Inc. Reduce -16.7% 0.17% −0.01
JBI Janus International Group Inc. Sold out 0.00% −0.01
ETN Eaton Corp. PLC Reduce -5.0% 0.03% −0.01
HLNE Hamilton Lane Inc. Class A Reduce -23.6% 0.02% −0.00
SEIC Sei Investments Company Reduce -1.1% 0.15% −0.00
IRT Independence Realty Trust Inc. Reduce -13.8% 0.03% −0.00
NVS Novartis AG-Sponsored ADR Reduce -10.8% 0.03% +0.00
HEES H&E Equipment Services Inc. Reduce -41.7% 0.02% +0.00
WRB WR Berkley Corp. Reduce -16.8% 0.30% +0.02
KO The Coca-Cola Co. Reduce -0.8% 1.06% +0.18

Portfolio Buys Q4 2024 → Q1 2025
SHLD Global X Defense Tech ETF New 1.56% +1.56
SHEL Shell PLC-ADR Add +1852.1% 1.06% +1.02
EUSA iShares MSCI USA Equal Weigh Add +8.9% 3.19% +0.37
CAT Caterpillar Inc. Add +30.2% 0.64% +0.13
AZN Astrazeneca PLC-Spons ADR Add +147.6% 0.09% +0.06
BABA Alibaba Group Holding-SP ADR Add +65.3% 0.09% +0.06
HON Honeywell International Inc. Add +5.2% 1.34% +0.05
EWJ iShares MSCI Japan ETF Add +69.3% 0.12% +0.05
COST Costco Wholesale Corp. New 0.05% +0.05
NGG National Grid PLC-SP ADR Add +70.4% 0.10% +0.05
MUFG Mitsubishi Ufj Finl-Spon ADR Add +64.8% 0.10% +0.05
SPOT Spotify Technology SA New 0.05% +0.05
WCN Waste Connections Inc. New 0.05% +0.05
TSM Taiwan Semiconductor-SP ADR Add +54.2% 0.17% +0.05
BBVA Banco Bilbao Vizcaya-SP ADR New 0.04% +0.04
CRH CRH PLC Add +187.3% 0.07% +0.04
SAP Sap SE-Sponsored ADR Add +68.7% 0.08% +0.04
HSBC HSBC Holdings PLC-Spons ADR Add +51.2% 0.09% +0.04
SONY Sony Group Corp. - SP ADR Add +58.1% 0.08% +0.04
RELX Relx PLC - Spon ADR Add +59.6% 0.08% +0.04
CCEP Coca-Cola Europacific Partne Add +71.3% 0.07% +0.03
EMBJ Embraer SA-Spon ADR New 0.03% +0.03
TD Toronto-Dominion Bank Add +157.9% 0.05% +0.03
ING ING Groep N.V.-Sponsored ADR Add +70.0% 0.06% +0.03
LIN Linde PLC Add +71.8% 0.06% +0.03
MFG Mizuho Financial Group-ADR Add +67.6% 0.06% +0.03
RNR Renaissancere Holdings Ltd. Add +72.5% 0.07% +0.03
TRI Thomson Reuters Corp. Add +70.5% 0.06% +0.03
TRMB Trimble Inc. Add +22.2% 0.17% +0.03
SNY Sanofi-ADR Add +48.8% 0.06% +0.03
RYAAY Ryanair Holdings PLC-SP ADR Add +126.3% 0.05% +0.03
HTHT H World Group Ltd.-ADR Add +96.0% 0.05% +0.03
UL Unilever PLC Add +45.7% 0.06% +0.02
AEM Agnico Eagle Mines Ltd. Add +70.6% 0.04% +0.02
SSB Southstate Bank Corp. Add +81.5% 0.05% +0.02
JCI Johnson Controls Internation Add +113.9% 0.04% +0.02
RACE Ferrari NV Add +68.8% 0.05% +0.02
AER Aercap Holdings NV Add +68.4% 0.05% +0.02
IX Orix - Sponsored ADR Add +69.4% 0.05% +0.02
JKHY Jack Henry & Associates Inc. Add +23.9% 0.08% +0.02
TELFY Telefonica SA-Spon ADR Add +42.9% 0.05% +0.02
CM Can Imperial BK of Commerce Add +68.8% 0.06% +0.02
ARM Arm Holdings PLC-ADR New 0.02% +0.02
PDD PDD Holdings Inc. Add +159.6% 0.03% +0.02
ASML ASML Holding NV-NY Reg SHS Add +36.5% 0.07% +0.02
KEX Kirby Corp. Add +23.1% 0.09% +0.02
NVO Novo-Nordisk A/S-Spons ADR Add +55.4% 0.07% +0.02
HDB HDFC Bank Ltd.-ADR Add +69.8% 0.03% +0.02
KB KB Financial Group Inc.-ADR Add +69.3% 0.04% +0.02
ARGX Argenx SE - ADR Add +67.5% 0.04% +0.01

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 160$3.1BNVDA, AAPL, LLY, AMAT, JPM
Q1 2026 160$2.7BNVDA, AAPL, LLY, JPM, GOOG
Q4 2025 161$2.8BNVDA, AAPL, LLY, JPM, MSFT
Q3 2025 256$2.7BNVDA, AAPL, JPM, MSFT, LLY
Q2 2025 291$2.5BNVDA, AAPL, JPM, MSFT, LLY
Q1 2025 292$2.3BAAPL, NVDA, LLY, JPM, EUSA
Q4 2024 298$2.4BAAPL, NVDA, LLY, JPM, MSFT
Q3 2024 302$2.4BAAPL, NVDA, LLY, MSFT, JPM
Q2 2024 282$2.2BAAPL, NVDA, LLY, MSFT, JPM
Q1 2024 283$2.1BAAPL, NVDA, LLY, MSFT, JPM