Henshaw Capital LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed May 28, 2026), Henshaw Capital LLC reported 161 stock positions worth $2.8 billion. Its top holding was Nvidia (NVDA) at 7.0% of the portfolio, followed by Apple (AAPL, 6.3%) and Eli Lilly (LLY, 4.6%). Compared with Q3 2025, it opened 18 new positions, sold out of 114, added to 27 and reduced 11. The biggest buy was Vanguard Russell 2000 ETF (VTWO, shares +3619%) and the biggest sale WR Berkley (WRB, shares −25%).

Most Recent 13F
Q2 2026
Location
WOBURN, MA
CIK
0002131483
Portfolio Value
$2.8B (Q4 2025)
SEC Filing
0002131483-26-000050 ↗ 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 Q1 2025 Q2 2025: $2.5B Q2 2025 Q3 2025: $2.7B Q3 2025 Q4 2025: $2.8B $2.8B Q4 2025 Q1 2026: $2.7B Q1 2026 Q2 2026: $3.1B Q2 2026

Holdings 161 stocks · $2.8B
NVDA Nvidia Corp. 6.96% 1,038,197 $193.6M No change
AAPL Apple Inc. 6.29% 643,494 $174.9M No change
LLY Eli Lilly & Co. 4.55% 117,776 $126.6M No change
JPM JPMorgan Chase & Co. 3.91% 337,139 $108.6M No change
MSFT Microsoft Corp. 3.25% 186,668 $90.3M No change
GOOG Alphabet Inc. Class C 3.20% 283,860 $89.1M No change
GOOGL Alphabet Inc. Class A 3.15% 280,000 $87.6M No change
EUSA iShares MSCI USA Equal Weigh 2.88% 774,400 $80.0M No change
GE General Electric filed as GE AEROSPACE 2.75% 248,000 $76.4M No change
META Meta Platforms Inc. Class A 2.74% 115,400 $76.2M No change
AMZN Amazon.com Inc. 2.68% 323,174 $74.6M No change
BLK BlackRock Inc. 2.59% 67,390 $72.1M No change
WMT Walmart Inc. 2.44% 609,255 $67.9M No change
ORCL Oracle Corp. 2.11% 301,669 $58.8M No change
VTWO Vanguard Russell 2000 ETF 2.08% 582,050 $57.9M Add +3619.2%
CRM Salesforce Inc. 2.06% 216,800 $57.4M Add +0.2%
ADP Automatic Data Processing 1.87% 202,692 $52.1M No change
SHLD Global X Defense Tech ETF 1.77% 762,000 $49.4M Add +0.4%
TMO Thermo Fisher Scientific Inc. 1.72% 82,609 $47.9M No change
MDY State Street SPDR S&P Midcap 1.63% 75,050 $45.3M No change
AMAT Applied Materials Inc. 1.58% 171,300 $44.0M No change
PANW Palo Alto Networks Inc. 1.58% 238,550 $43.9M No change
VEU Vanguard Ftse All-World Ex-U 1.58% 596,273 $43.9M Add +0.6%
HD Home Depot Inc. 1.50% 121,503 $41.8M No change
GEV GE Vernova Inc. 1.46% 62,000 $40.5M No change
MCD McDonald's Corp. 1.41% 128,519 $39.3M No change
UNP Union Pacific Corp. 1.41% 169,273 $39.2M No change
AFL Aflac Inc. 1.34% 337,000 $37.2M No change
AXP American Express Co. 1.31% 98,805 $36.6M No change
MAR Marriott International Class A 1.22% 109,000 $33.8M No change
XOM Exxon Mobil Corp. 1.15% 266,000 $32.0M No change
HON Honeywell International Inc. 1.01% 144,151 $28.1M No change
CSCO Cisco Systems Inc. 1.01% 364,504 $28.1M No change
BA The Boeing Co. 0.94% 121,018 $26.3M No change
BRK.B Berkshire Hathaway Inc. Class B 0.93% 51,650 $26.0M No change
CAT Caterpillar Inc. 0.91% 44,335 $25.4M No change
V Visa Inc. Class A 0.88% 69,467 $24.4M No change
DOV Dover Corp. 0.87% 124,025 $24.2M No change
KO The Coca-Cola Co. 0.84% 335,497 $23.5M No change
SHEL Shell PLC-ADR 0.84% 316,973 $23.3M Add +0.0%
SPY SS SPDR S&P 500 ETF Trust-US 0.84% 34,135 $23.3M No change
CDNS Cadence Design SYS Inc. 0.80% 70,910 $22.2M No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.77% 188,350 $21.4M No change
C Citigroup Inc. 0.73% 174,000 $20.3M No change
MRVL Marvell Technology Inc. 0.73% 238,382 $20.3M No change
GD General Dynamics Corp. 0.71% 59,000 $19.9M No change
FDX FedEx Corp. 0.71% 68,227 $19.7M No change
PEP Pepsico Inc. 0.67% 130,666 $18.8M No change
VRT Vertiv Holdings Co. Class A 0.65% 111,375 $18.0M No change
SBUX Starbucks Corp. 0.61% 200,353 $16.9M No change
MDLZ Mondelez International Inc. Class A 0.48% 249,700 $13.4M No change
MPC Marathon Petroleum Corp. 0.46% 78,589 $12.8M No change
EMR Emerson Electric Co. 0.41% 85,000 $11.3M No change
COP Conocophillips 0.40% 118,500 $11.1M No change
VWO Vanguard Ftse Emerging Marke 0.29% 150,000 $8.1M No change
SPHQ Invesco S&P 500 Quality ETF 0.27% 100,000 $7.5M No change
TRMB Trimble Inc. 0.20% 69,254 $5.4M No change
CSL Carlisle Cos Inc. 0.19% 16,110 $5.2M Add +0.3%
CACI Caci International Inc. Class A 0.18% 9,280 $4.9M Reduce -3.4%
MKL Markel Group Inc. 0.16% 2,062 $4.4M No change
CASY Casey's General Stores Inc. 0.16% 7,862 $4.3M No change
TSM Taiwan Semiconductor-SP ADR 0.14% 13,147 $4.0M Add +38.2%
BURL Burlington Stores Inc. 0.14% 13,182 $3.8M No change
GDDY GoDaddy Inc. Class A 0.13% 30,193 $3.7M No change
WRB WR Berkley Corp. filed as BERKLEY W R CORP 0.13% 52,184 $3.7M Reduce -25.0%
AVY Avery Dennison Corp. 0.13% 19,917 $3.6M Add +28.1%
JLL Jones Lang Lasalle Inc. 0.13% 10,745 $3.6M No change
TRU Transunion 0.13% 41,850 $3.6M Add +32.9%
SEIC Sei Investments Company 0.13% 42,843 $3.5M No change
AMG Affiliated Managers Group 0.12% 11,541 $3.3M No change
RPM RPM International Inc. 0.10% 27,323 $2.8M Add +0.5%
ARMK Aramark 0.10% 76,698 $2.8M Add +0.3%
DLB Dolby Laboratories Inc. Class A 0.10% 43,223 $2.8M Reduce -5.9%
MORN Morningstar Inc. 0.10% 12,510 $2.7M Add +0.2%
ATR Aptargroup Inc. 0.09% 20,828 $2.5M Add +0.4%
LII Lennox International Inc. 0.09% 5,151 $2.5M Reduce -7.8%
BAH Booz Allen Hamilton Holdings 0.09% 29,234 $2.5M No change
WEX Wex Inc. 0.08% 15,609 $2.3M Reduce -6.2%
LKQ LKQ Corp. 0.08% 74,203 $2.2M No change
KEX Kirby Corp. 0.08% 20,065 $2.2M No change
QUAL iShares MSCI USA Quality Fac 0.08% 11,000 $2.2M No change
CHH Choice Hotels Intl Inc. 0.08% 22,369 $2.1M No change
TECH Bio-Techne Corp. 0.07% 34,990 $2.1M Add +0.1%
IEX Idex Corp. 0.07% 11,483 $2.0M Add +0.4%
VZ Verizon Communications Inc. 0.07% 50,000 $2.0M No change
NDSN Nordson Corp. 0.07% 8,149 $2.0M No change
MANH Manhattan Associates Inc. 0.07% 11,205 $1.9M No change
J Jacobs Solutions Inc. 0.07% 14,221 $1.9M Add +54.7%
ULTA Ulta Beauty Inc. 0.07% 3,077 $1.9M No change
JBHT Hunt (jb) Transprt SVCS Inc. 0.07% 9,319 $1.8M Reduce -25.2%
TFX Teleflex Inc. 0.07% 14,815 $1.8M Reduce -25.7%
ASX Ase Technology Holding -ADR 0.06% 111,396 $1.8M New
JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC 0.06% 9,809 $1.8M Add +0.3%
SOLS Solstice Adv Materials Inc. 0.06% 36,037 $1.8M No change
NVST Envista Holdings Corp. 0.06% 77,082 $1.7M No change
ARGX Argenx SE - ADR 0.06% 1,862 $1.6M No change
UBS UBS Group AG-Reg 0.06% 33,267 $1.5M No change
GGG Graco Inc. 0.05% 18,537 $1.5M Add +0.3%
SCI Service Corp. International 0.05% 19,110 $1.5M Add +0.4%
BLKB Blackbaud Inc. 0.05% 23,260 $1.5M No change
SAIA Saia Inc. 0.05% 4,496 $1.5M No change
LSTR Landstar System Inc. 0.05% 9,723 $1.4M Add +0.3%
FCN Fti Consulting Inc. 0.05% 7,905 $1.4M No change
KNSL Kinsale Capital Group Inc. 0.05% 3,433 $1.3M No change
BLD Topbuild Corp. 0.04% 2,952 $1.2M New
NSIT Insight Enterprises Inc. 0.04% 14,639 $1.2M Add +48.6%
COLM Columbia Sportswear Co. 0.04% 21,511 $1.2M Add +0.5%
TYL Tyler Technologies Inc. 0.04% 2,556 $1.2M No change
COST Costco Wholesale Corp. 0.04% 1,314 $1.1M Add +8.9%
SSD Simpson Manufacturing Co. Inc. 0.04% 6,998 $1.1M No change
ASML ASML Holding NV-NY Reg SHS 0.04% 1,020 $1.1M No change
BAM Brookfield Asset Mgmt-A 0.04% 20,600 $1.1M No change
AON Aon PLC Class A 0.04% 3,058 $1.1M No change
BSY Bentley Systems Inc. Class B 0.04% 28,227 $1.1M Add +50.0%
PB Prosperity Bancshares Inc. 0.04% 15,506 $1.1M No change
HSBC HSBC Holdings PLC-Spons ADR filed as HSBC HLDGS PLC 0.04% 12,880 $1.0M No change
ONC Beone Medicines Ltd.-ADR 0.04% 3,224 $979K Reduce -24.1%
COLB Columbia Banking System Inc. 0.03% 34,328 $959K Reduce -17.4%
DB Deutsche Bank AG-Registered 0.03% 24,540 $946K No change
POOL Pool Corp. 0.03% 4,095 $937K No change
SONY Sony Group Corp. - SP ADR 0.03% 36,555 $936K Reduce -30.7%
CIB Grupo Cibest SA-ADR 0.03% 14,177 $902K New
TM Toyota Motor Corp. -Spon ADR 0.03% 4,151 $889K Add +86.7%
IHG Intercontinental Hotels-ADR 0.03% 6,196 $873K No change
ICLR Icon PLC 0.03% 4,734 $863K New
AZN Astrazeneca PLC-Spons ADR 0.03% 9,380 $862K No change
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 0.03% 51,405 $861K No change
CAE Cae Inc. 0.03% 28,087 $854K New
CCL Carnival Corp. 0.03% 27,494 $840K New
SQM Quimica Y Minera Chil-SP ADR filed as SOCIEDAD QUIMICA Y MINERA DE 0.03% 11,745 $808K New
MUFG Mitsubishi Ufj Finl-Spon ADR 0.03% 48,563 $770K No change
SPOT Spotify Technology SA 0.03% 1,277 $742K No change
NXPI NXP Semiconductors NV 0.03% 3,399 $738K No change
PSN Parsons Corp. 0.03% 11,911 $736K No change
CHKP Check Point Software Tech 0.03% 3,963 $735K New
IBN Icici Bank Ltd.-Spon ADR 0.03% 24,407 $727K New
FDS Factset Research Systems Inc. 0.03% 2,504 $727K Add +0.4%
FERG Ferguson Enterprises Inc. 0.03% 3,251 $724K No change
SAP Sap SE-Sponsored ADR 0.03% 2,888 $702K No change
BIDU Baidu Inc. - Spon ADR 0.03% 5,356 $700K New
RELX Relx PLC - Spon ADR 0.02% 16,941 $685K No change
NVS Novartis AG-Sponsored ADR 0.02% 4,865 $671K New
WMS Advanced Drainage Systems Inc. 0.02% 4,424 $641K No change
CNI Canadian Natl Railway Co. 0.02% 6,302 $623K Add +39.6%
RIO Rio Tinto PLC-Spon ADR 0.02% 7,528 $602K New
GRMN Garmin Ltd. 0.02% 2,960 $600K No change
HDB HDFC Bank Ltd.-ADR 0.02% 16,269 $594K New
VTV Vanguard Mrngstr Val ETF-Aui 0.02% 3,075 $587K No change
MRK Merck & Co. Inc. 0.02% 5,500 $579K No change
ABBV Abbvie Inc. 0.02% 2,475 $566K No change
BALL Ball Corp. 0.02% 10,354 $548K No change
ABT Abbott Laboratories 0.02% 4,266 $534K No change
EQNR Equinor ASA-Spon ADR 0.02% 21,454 $507K New
EG Everest Group Ltd. 0.02% 1,468 $498K New
UL Unilever PLC-Sponsored ADR 0.02% 7,031 $460K No change
PBR Petroleo Brasileiro-Spon ADR 0.02% 38,514 $456K New
ABEV Ambev SA-ADR 0.02% 181,497 $448K New
BBD Banco Bradesco-ADR 0.01% 111,907 $373K New
BRO Brown & Brown Inc. 0.01% 3,899 $311K Reduce -42.6%
XLRE SS Real Estate Select Sector 0.01% 6,675 $269K No change
VMRK Vivmark Residential filed as EQUITY RESIDENTIAL 0.01% 3,500 $221K No change

Portfolio Sells Q3 2025 → Q4 2025
WRB WR Berkley Corp. Reduce -25.0% 0.13% −0.07
SMTC Semtech Corp. Sold out 0.00% −0.04
FSS Federal Signal Corp. Sold out 0.00% −0.04
ROAD Construction Partners Inc. Class A Sold out 0.00% −0.03
MYRG MYR Group Inc./Delaware Sold out 0.00% −0.03
LGND Ligand Pharmaceuticals Sold out 0.00% −0.03
VRNS Varonis Systems Inc. Sold out 0.00% −0.03
ONB Old National Bancorp Sold out 0.00% −0.03
SUPN Supernus Pharmaceuticals Inc. Sold out 0.00% −0.03
ASB Associated Banc-Corp. Sold out 0.00% −0.03
AORT Artivion Inc. Sold out 0.00% −0.03
TFX Teleflex Inc. Reduce -25.7% 0.07% −0.03
MOD Modine Manufacturing Co. Sold out 0.00% −0.03
BBIO Bridgebio Pharma Inc. Sold out 0.00% −0.03
QTWO Q2 Holdings Inc. Sold out 0.00% −0.02
URBN Urban Outfitters Inc. Sold out 0.00% −0.02
TVTX Travere Therapeutics Inc. Sold out 0.00% −0.02
ESE Esco Technologies Inc. Sold out 0.00% −0.02
DLB Dolby Laboratories Inc. Class A Reduce -5.9% 0.10% −0.02
MTX Minerals Technologies Inc. Sold out 0.00% −0.02
ZWS Zurn Elkay Water Solutions C Sold out 0.00% −0.02
SLAB Silicon Laboratories Inc. Sold out 0.00% −0.02
IMAX Imax Corp. Sold out 0.00% −0.02
SONY Sony Group Corp. - SP ADR Reduce -30.7% 0.03% −0.02
AXSM Axsome Therapeutics Inc. Sold out 0.00% −0.02
CRDO Credo Technology Group Holdi Sold out 0.00% −0.02
CWK Cushman & Wakefield UK Holdc Sold out 0.00% −0.02
CNO Cno Financial Group Inc. Sold out 0.00% −0.02
KTB Kontoor Brands Inc. Sold out 0.00% −0.02
CWST Casella Waste Systems Inc. Class A Sold out 0.00% −0.02
ESNT Essent Group Ltd. Sold out 0.00% −0.02
WSFS WSFS Financial Corp. Sold out 0.00% −0.02
SSB Southstate Bank Corp. Sold out 0.00% −0.02
EXLS Exlservice Holdings Inc. Sold out 0.00% −0.02
MMSI Merit Medical Systems Inc. Sold out 0.00% −0.02
KAI Kadant Inc. Sold out 0.00% −0.02
ATRC Atricure Inc. Sold out 0.00% −0.02
KRG Kite Realty Group Trust Sold out 0.00% −0.02
LII Lennox International Inc. Reduce -7.8% 0.09% −0.02
PBH Prestige Consumer Healthcare Sold out 0.00% −0.02
ACA Arcosa Inc. Sold out 0.00% −0.02
TMDX Transmedics Group Inc. Sold out 0.00% −0.02
SM SM Energy Co. Sold out 0.00% −0.02
SIGI Selective Insurance Group Sold out 0.00% −0.02
AGIO Agios Pharmaceuticals Inc. Sold out 0.00% −0.02
TMHC Taylor Morrison Home Corp. Sold out 0.00% −0.02
MGY Magnolia Oil & Gas Corp. Class A Sold out 0.00% −0.02
SR Spire Inc. Sold out 0.00% −0.02
ONC Beone Medicines Ltd.-ADR Reduce -24.1% 0.04% −0.02
HALO Halozyme Therapeutics Inc. Sold out 0.00% −0.02

Portfolio Buys Q3 2025 → Q4 2025
VTWO Vanguard Russell 2000 ETF Add +3619.2% 2.08% +2.03
CRM Salesforce Inc. Add +0.2% 2.06% +0.15
ASX Ase Technology Holding -ADR New 0.06% +0.06
TSM Taiwan Semiconductor-SP ADR Add +38.2% 0.14% +0.04
BLD Topbuild Corp. New 0.04% +0.04
AVY Avery Dennison Corp. Add +28.1% 0.13% +0.04
CIB Grupo Cibest SA-ADR New 0.03% +0.03
ICLR Icon PLC New 0.03% +0.03
CAE Cae Inc. New 0.03% +0.03
TRU Transunion Add +32.9% 0.13% +0.03
CCL Carnival Corp. New 0.03% +0.03
SQM Quimica Y Minera Chil-SP ADR New 0.03% +0.03
CHKP Check Point Software Tech New 0.03% +0.03
IBN Icici Bank Ltd.-Spon ADR New 0.03% +0.03
BIDU Baidu Inc. - Spon ADR New 0.03% +0.03
NVS Novartis AG-Sponsored ADR New 0.02% +0.02
RIO Rio Tinto PLC-Spon ADR New 0.02% +0.02
HDB HDFC Bank Ltd.-ADR New 0.02% +0.02
EQNR Equinor ASA-Spon ADR New 0.02% +0.02
EG Everest Group Ltd. New 0.02% +0.02
J Jacobs Solutions Inc. Add +54.7% 0.07% +0.02
PBR Petroleo Brasileiro-Spon ADR New 0.02% +0.02
ABEV Ambev SA-ADR New 0.02% +0.02
TM Toyota Motor Corp. -Spon ADR Add +86.7% 0.03% +0.02
BBD Banco Bradesco-ADR New 0.01% +0.01
JKHY Jack Henry & Associates Inc. Add +0.3% 0.06% +0.01
CNI Canadian Natl Railway Co. Add +39.6% 0.02% +0.01
LSTR Landstar System Inc. Add +0.3% 0.05% +0.01
IEX Idex Corp. Add +0.4% 0.07% +0.00
BSY Bentley Systems Inc. Class B Add +50.0% 0.04% +0.00
TECH Bio-Techne Corp. Add +0.1% 0.07% +0.00
NSIT Insight Enterprises Inc. Add +48.6% 0.04% +0.00
COLM Columbia Sportswear Co. Add +0.5% 0.04% +0.00
VEU Vanguard Ftse All-World Ex-U Add +0.6% 1.58% −0.00
FDS Factset Research Systems Inc. Add +0.4% 0.03% −0.00
COST Costco Wholesale Corp. Add +8.9% 0.04% −0.00
GGG Graco Inc. Add +0.3% 0.05% −0.00
SCI Service Corp. International Add +0.4% 0.05% −0.01
SHEL Shell PLC-ADR Add +0.0% 0.84% −0.01
ARMK Aramark Add +0.3% 0.10% −0.01
MORN Morningstar Inc. Add +0.2% 0.10% −0.01
CSL Carlisle Cos Inc. Add +0.3% 0.19% −0.01
ATR Aptargroup Inc. Add +0.4% 0.09% −0.01
RPM RPM International Inc. Add +0.5% 0.10% −0.02
SHLD Global X Defense Tech ETF Add +0.4% 1.77% −0.21

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