# EDGAR Filing Document

**Accession Number:** 0002131483
**File Stem:** 0002131483-26-000027
**Filing Date:** 2026-5
**Character Count:** 30592
**Document Hash:** 7ed760719bffd30bc066744fe1e52e87
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002131483-26-000027.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0002131483-26-000027

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20200331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**EFFECTIVENESS DATE**: 20260528

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Henshaw Capital LLC
- **CENTRAL INDEX KEY:** 0002131483

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-26999
- **FILM NUMBER:** 261036123

**BUSINESS ADDRESS:**
- **STREET 1:** 200 WEST CUMMINGS PARK
- **CITY:** WOBURN
- **STATE:** MA
- **ZIP:** 01801
- **BUSINESS PHONE:** 781-935-8000

**MAIL ADDRESS:**
- **STREET 1:** 200 WEST CUMMINGS PARK
- **CITY:** WOBURN
- **STATE:** MA
- **ZIP:** 01801

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 03-31-2020

**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:** Henshaw Capital LLC<br>**Address:** 200 WEST CUMMINGS PARK<br>WOBURN, MA 01801

**Form 13F File Number:** 028-26999

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:** Robert Park<br>**Title:** Managing Director<br>**Phone:** 781-935-8000

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

/s/Robert Park  Woburn, MA  05-28-2026<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:** 281

**Form 13F Information Table Value Total:** $996574081

      (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

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 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 |
| ABBOTT LABS | COM | 002824100 |  | 336630 | 4266 | SH |  | SOLE |  | 0 | 0 | 4266 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 522809 | 3202 | SH |  | SOLE |  | 0 | 0 | 3202 |
| ACUITY BRANDS INC | COM | 00508Y102 |  | 876042 | 10227 | SH |  | SOLE |  | 0 | 0 | 10227 |
| ADAMAS PHARMACEUTICALS INC | COM | 00548A106 |  | 32576 | 11272 | SH |  | SOLE |  | 0 | 0 | 11272 |
| ADOBE INC | COM | 00724F101 |  | 411484 | 1293 | SH |  | SOLE |  | 0 | 0 | 1293 |
| AFFILIATED MANAGERS GROUP IN | COM | 008252108 |  | 457530 | 7736 | SH |  | SOLE |  | 0 | 0 | 7736 |
| AFLAC INC | COM | 001055102 |  | 16606400 | 485000 | SH |  | SOLE |  | 0 | 0 | 485000 |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 |  | 1948690 | 10020 | SH |  | SOLE |  | 0 | 0 | 10020 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 22077050 | 19000 | SH |  | SOLE |  | 0 | 0 | 19000 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 22846892 | 19648 | SH |  | SOLE |  | 0 | 0 | 19648 |
| AMAZON COM INC | COM | 023135106 |  | 22831221 | 11710 | SH |  | SOLE |  | 0 | 0 | 11710 |
| AMERICAN EAGLE OUTFITTERS IN | COM | 02553E106 |  | 150573 | 18940 | SH |  | SOLE |  | 0 | 0 | 18940 |
| AMERICAN EQTY INVT LIFE HLD | COM | 025676206 |  | 242259 | 12886 | SH |  | SOLE |  | 0 | 0 | 12886 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 |  | 351384 | 1614 | SH |  | SOLE |  | 0 | 0 | 1614 |
| AMGEN INC | COM | 031162100 |  | 7247598 | 35750 | SH |  | SOLE |  | 0 | 0 | 35750 |
| AON PLC | SHS CL A | G0408V102 |  | 977482 | 5923 | SH |  | SOLE |  | 0 | 0 | 5923 |
| APPLE INC | COM | 037833100 |  | 64033524 | 251813 | SH |  | SOLE |  | 0 | 0 | 251813 |
| APPLIED INDL TECHNOLOGIES IN | COM | 03820C105 |  | 208712 | 4565 | SH |  | SOLE |  | 0 | 0 | 4565 |
| APTARGROUP INC | COM | 038336103 |  | 1843454 | 18520 | SH |  | SOLE |  | 0 | 0 | 18520 |
| ARAMARK | COM | 03852U106 |  | 1661660 | 83208 | SH |  | SOLE |  | 0 | 0 | 83208 |
| ARMADA HOFFLER PPTYS INC | COM | 04208T108 |  | 114993 | 10747 | SH |  | SOLE |  | 0 | 0 | 10747 |
| ASE TECHNOLOGY HOLDING CO LT | SPONSORED ADS | 00215W100 |  | 254066 | 67932 | SH |  | SOLE |  | 0 | 0 | 67932 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 495241 | 1893 | SH |  | SOLE |  | 0 | 0 | 1893 |
| ASTRAZENECA PLC | SPONSORED ADR | 046353108 |  | 409666 | 9173 | SH |  | SOLE |  | 0 | 0 | 9173 |
| AT INC | COM | 00206R102 |  | 434335 | 14900 | SH |  | SOLE |  | 0 | 0 | 14900 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 38423329 | 281119 | SH |  | SOLE |  | 0 | 0 | 281119 |
| BAOZUN INC | SPONSORED ADR | 06684L103 |  | 373139 | 13355 | SH |  | SOLE |  | 0 | 0 | 13355 |
| BARRICK GOLD CORPORATION | COM | 067901108 |  | 339024 | 18506 | SH |  | SOLE |  | 0 | 0 | 18506 |
| BAXTER INTL INC | COM | 071813109 |  | 4908921 | 60462 | SH |  | SOLE |  | 0 | 0 | 60462 |
| BERKLEY W R CORP | COM | 084423102 |  | 2598531 | 49809 | SH |  | SOLE |  | 0 | 0 | 49809 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 9443170 | 51650 | SH |  | SOLE |  | 0 | 0 | 51650 |
| BIO RAD LABS INC | CL A | 090572207 |  | 1294618 | 3693 | SH |  | SOLE |  | 0 | 0 | 3693 |
| BIO-TECHNE CORP | COM | 09073M104 |  | 1302103 | 6867 | SH |  | SOLE |  | 0 | 0 | 6867 |
| BLACK HILLS CORP | COM | 092113109 |  | 207649 | 3243 | SH |  | SOLE |  | 0 | 0 | 3243 |
| BLACKBAUD INC | COM | 09227Q100 |  | 1385266 | 24937 | SH |  | SOLE |  | 0 | 0 | 24937 |
| BLACKROCK INC | COM | 09247X101 |  | 30705424 | 69790 | SH |  | SOLE |  | 0 | 0 | 69790 |
| BLACKSTONE GROUP INC | COM CL A | 09260D107 |  | 315071 | 6914 | SH |  | SOLE |  | 0 | 0 | 6914 |
| BOEING CO | COM | 097023105 |  | 22156505 | 148562 | SH |  | SOLE |  | 0 | 0 | 148562 |
| BOISE CASCADE CO DEL | COM | 09739D100 |  | 223698 | 9407 | SH |  | SOLE |  | 0 | 0 | 9407 |
| BOOZ ALLEN HAMILTON HLDG COR | CL A | 099502106 |  | 594079 | 8655 | SH |  | SOLE |  | 0 | 0 | 8655 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 |  | 578791 | 17738 | SH |  | SOLE |  | 0 | 0 | 17738 |
| BRIGHTVIEW HLDGS INC | COM | 10948C107 |  | 122169 | 11046 | SH |  | SOLE |  | 0 | 0 | 11046 |
| BROADCOM INC | COM | 11135F101 |  | 324827 | 1370 | SH |  | SOLE |  | 0 | 0 | 1370 |
| BROADRIDGE FINL SOLUTIONS IN | COM | 11133T103 |  | 1125974 | 11874 | SH |  | SOLE |  | 0 | 0 | 11874 |
| BROOKFIELD ASSET MGMT INC | CL A LTD VT SH | 112585104 |  | 408472 | 9231 | SH |  | SOLE |  | 0 | 0 | 9231 |
| BROOKS AUTOMATION INC NEW | COM | 114340102 |  | 214293 | 7026 | SH |  | SOLE |  | 0 | 0 | 7026 |
| BROWN  BROWN INC | COM | 115236101 |  | 645585 | 17824 | SH |  | SOLE |  | 0 | 0 | 17824 |
| BURLINGTON STORES INC | COM | 122017106 |  | 531475 | 3354 | SH |  | SOLE |  | 0 | 0 | 3354 |
| CACI INTL INC | CL A | 127190304 |  | 815672 | 3863 | SH |  | SOLE |  | 0 | 0 | 3863 |
| CAE INC | COM | 124765108 |  | 177576 | 14071 | SH |  | SOLE |  | 0 | 0 | 14071 |
| CANADIAN NATL RY CO | COM | 136375102 |  | 470834 | 6065 | SH |  | SOLE |  | 0 | 0 | 6065 |
| CARLISLE COS INC | COM | 142339100 |  | 1673022 | 13354 | SH |  | SOLE |  | 0 | 0 | 13354 |
| CASELLA WASTE SYS INC | CL A | 147448104 |  | 224634 | 5751 | SH |  | SOLE |  | 0 | 0 | 5751 |
| CDW CORP | COM | 12514G108 |  | 1139314 | 12215 | SH |  | SOLE |  | 0 | 0 | 12215 |
| CENTERSTATE BK CORP | COM | 15201P109 |  | 223439 | 12968 | SH |  | SOLE |  | 0 | 0 | 12968 |
| CHINA LIFE INS CO LTD | SPON ADR REP H | 16939P106 |  | 153456 | 15723 | SH |  | SOLE |  | 0 | 0 | 15723 |
| CHINA MOBILE LIMITED | SPONSORED ADR | 16941M109 |  | 427426 | 11347 | SH |  | SOLE |  | 0 | 0 | 11347 |
| CHOICE HOTELS INTL INC | COM | 169905106 |  | 913666 | 14917 | SH |  | SOLE |  | 0 | 0 | 14917 |
| CHUBB LIMITED | COM | H1467J104 |  | 576350 | 5160 | SH |  | SOLE |  | 0 | 0 | 5160 |
| CHUNGHWA TELECOM CO LTD | SPON ADR NEW11 | 17133Q502 |  | 283413 | 7968 | SH |  | SOLE |  | 0 | 0 | 7968 |
| CIGNA CORP NEW | COM | 125523100 |  | 677527 | 3824 | SH |  | SOLE |  | 0 | 0 | 3824 |
| CISCO SYS INC | COM | 17275R102 |  | 14475083 | 368229 | SH |  | SOLE |  | 0 | 0 | 368229 |
| CITIGROUP INC | COM NEW | 172967424 |  | 537553 | 12762 | SH |  | SOLE |  | 0 | 0 | 12762 |
| CNOOC LIMITED | SPONSORED ADR | 126132109 |  | 264924 | 2560 | SH |  | SOLE |  | 0 | 0 | 2560 |
| COCA COLA CO | COM | 191216100 |  | 15257283 | 344797 | SH |  | SOLE |  | 0 | 0 | 344797 |
| COEUR MNG INC | COM NEW | 192108504 |  | 69050 | 21511 | SH |  | SOLE |  | 0 | 0 | 21511 |
| COLUMBIA SPORTSWEAR CO | COM | 198516106 |  | 991685 | 14214 | SH |  | SOLE |  | 0 | 0 | 14214 |
| COLUMBUS MCKINNON CORP N Y | COM | 199333105 |  | 207325 | 8293 | SH |  | SOLE |  | 0 | 0 | 8293 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 17876863 | 519978 | SH |  | SOLE |  | 0 | 0 | 519978 |
| CREDICORP LTD | COM | G2519Y108 |  | 410097 | 2866 | SH |  | SOLE |  | 0 | 0 | 2866 |
| CVS HEALTH CORP | COM | 126650100 |  | 14528213 | 244871 | SH |  | SOLE |  | 0 | 0 | 244871 |
| CYBERARK SOFTWARE LTD | SHS | M2682V108 |  | 266262 | 3112 | SH |  | SOLE |  | 0 | 0 | 3112 |
| DANAHER CORPORATION | COM | 235851102 |  | 509841 | 3684 | SH |  | SOLE |  | 0 | 0 | 3684 |
| DENTSPLY SIRONA INC | COM | 24906P109 |  | 1114329 | 28698 | SH |  | SOLE |  | 0 | 0 | 28698 |
| DIAGEO P L C | SPON ADR NEW | 25243Q205 |  | 590726 | 4647 | SH |  | SOLE |  | 0 | 0 | 4647 |
| DIGITAL RLTY TR INC | COM | 253868103 |  | 702468 | 5057 | SH |  | SOLE |  | 0 | 0 | 5057 |
| DISNEY WALT CO | COM DISNEY | 254687106 |  | 217060 | 2247 | SH |  | SOLE |  | 0 | 0 | 2247 |
| DOLBY LABORATORIES INC | COM CL A | 25659T107 |  | 628836 | 11600 | SH |  | SOLE |  | 0 | 0 | 11600 |
| DONALDSON INC | COM | 257651109 |  | 500165 | 12948 | SH |  | SOLE |  | 0 | 0 | 12948 |
| DR REDDYS LABS LTD | ADR | 256135203 |  | 383256 | 9503 | SH |  | SOLE |  | 0 | 0 | 9503 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 551363 | 6817 | SH |  | SOLE |  | 0 | 0 | 6817 |
| EASTGROUP PPTY INC | COM | 277276101 |  | 254409 | 2435 | SH |  | SOLE |  | 0 | 0 | 2435 |
| EATON CORP PLC | SHS | G29183103 |  | 476601 | 6135 | SH |  | SOLE |  | 0 | 0 | 6135 |
| ENBRIDGE INC | COM | 29250N105 |  | 247585 | 8511 | SH |  | SOLE |  | 0 | 0 | 8511 |
| ENVISTA HOLDINGS CORPORATION | COM | 29415F104 |  | 556635 | 37258 | SH |  | SOLE |  | 0 | 0 | 37258 |
| ESCO TECHNOLOGIES INC | COM | 296315104 |  | 264698 | 3487 | SH |  | SOLE |  | 0 | 0 | 3487 |
| EXLSERVICE HOLDINGS INC | COM | 302081104 |  | 260410 | 5005 | SH |  | SOLE |  | 0 | 0 | 5005 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 14200780 | 374000 | SH |  | SOLE |  | 0 | 0 | 374000 |
| FABRINET | SHS | G3323L100 |  | 283003 | 5187 | SH |  | SOLE |  | 0 | 0 | 5187 |
| FACEBOOK INC | CL A | 30303M102 |  | 51409428 | 308210 | SH |  | SOLE |  | 0 | 0 | 308210 |
| FACTSET RESH SYS INC | COM | 303075105 |  | 799164 | 3066 | SH |  | SOLE |  | 0 | 0 | 3066 |
| FAIR ISAAC CORP | COM | 303250104 |  | 492304 | 1600 | SH |  | SOLE |  | 0 | 0 | 1600 |
| FEDERAL SIGNAL CORP | COM | 313855108 |  | 329842 | 12091 | SH |  | SOLE |  | 0 | 0 | 12091 |
| FEDEX CORP | COM | 31428X106 |  | 8273203 | 68227 | SH |  | SOLE |  | 0 | 0 | 68227 |
| FERRARI N V | COM | N3167Y103 |  | 212988 | 1396 | SH |  | SOLE |  | 0 | 0 | 1396 |
| FIDELITY NATL INFORMATION SV | COM | 31620M106 |  | 519428 | 4270 | SH |  | SOLE |  | 0 | 0 | 4270 |
| FIRST FINL BANCORP OH | COM | 320209109 |  | 180888 | 12132 | SH |  | SOLE |  | 0 | 0 | 12132 |
| FIRST INDL RLTY TR INC | COM | 32054K103 |  | 335822 | 10106 | SH |  | SOLE |  | 0 | 0 | 10106 |
| FIRSTENERGY CORP | COM | 337932107 |  | 342999 | 8560 | SH |  | SOLE |  | 0 | 0 | 8560 |
| FIRSTSERVICE CORP NEW | COM | 33767E202 |  | 314264 | 4075 | SH |  | SOLE |  | 0 | 0 | 4075 |
| FISERV INC | COM | 337738108 |  | 464976 | 4895 | SH |  | SOLE |  | 0 | 0 | 4895 |
| FLIR SYS INC | COM | 302445101 |  | 740030 | 23206 | SH |  | SOLE |  | 0 | 0 | 23206 |
| FOMENTO ECONOMICO MEXICANO S | SPON ADR UNITS | 344419106 |  | 207900 | 3436 | SH |  | SOLE |  | 0 | 0 | 3436 |
| FRESENIUS MED CARE AG KGA | SPONSORED ADR | 358029106 |  | 327114 | 9973 | SH |  | SOLE |  | 0 | 0 | 9973 |
| FRONTDOOR INC | COM | 35905A109 |  | 846684 | 24344 | SH |  | SOLE |  | 0 | 0 | 24344 |
| GARTNER INC | COM | 366651107 |  | 969015 | 9732 | SH |  | SOLE |  | 0 | 0 | 9732 |
| GDS HLDGS LTD | SPONSORED ADS | 36165L108 |  | 572396 | 9874 | SH |  | SOLE |  | 0 | 0 | 9874 |
| GENERAL DYNAMICS CORP | COM | 369550108 |  | 18807830 | 142150 | SH |  | SOLE |  | 0 | 0 | 142150 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 273784 | 1771 | SH |  | SOLE |  | 0 | 0 | 1771 |
| GRACO INC | COM | 384109104 |  | 842284 | 17285 | SH |  | SOLE |  | 0 | 0 | 17285 |
| GW PHARMACEUTICALS PLC | ADS | 36197T103 |  | 276809 | 3161 | SH |  | SOLE |  | 0 | 0 | 3161 |
| HDFC BANK LTD | SPONSORED ADS | 40415F101 |  | 981618 | 25523 | SH |  | SOLE |  | 0 | 0 | 25523 |
| HEICO CORP NEW | COM | 422806109 |  | 542564 | 7272 | SH |  | SOLE |  | 0 | 0 | 7272 |
| HENRY JACK  ASSOC INC | COM | 426281101 |  | 1073094 | 6912 | SH |  | SOLE |  | 0 | 0 | 6912 |
| HENRY SCHEIN INC | COM | 806407102 |  | 992314 | 19642 | SH |  | SOLE |  | 0 | 0 | 19642 |
| HEXCEL CORP NEW | COM | 428291108 |  | 414557 | 11147 | SH |  | SOLE |  | 0 | 0 | 11147 |
| HOLLYSYS AUTOMATION TECHNOLO | SHS | G45667105 |  | 147215 | 11412 | SH |  | SOLE |  | 0 | 0 | 11412 |
| HOME DEPOT INC | COM | 437076102 |  | 22777184 | 121992 | SH |  | SOLE |  | 0 | 0 | 121992 |
| HONEYWELL INTL INC | COM | 438516106 |  | 18779828 | 140368 | SH |  | SOLE |  | 0 | 0 | 140368 |
| HUNT J B TRANS SVCS INC | COM | 445658107 |  | 1924939 | 20871 | SH |  | SOLE |  | 0 | 0 | 20871 |
| IAA INC | COM | 449253103 |  | 757299 | 25277 | SH |  | SOLE |  | 0 | 0 | 25277 |
| ICICI BANK LIMITED | ADR | 45104G104 |  | 266200 | 31318 | SH |  | SOLE |  | 0 | 0 | 31318 |
| ICON PLC | SHS | G4705A100 |  | 315656 | 2321 | SH |  | SOLE |  | 0 | 0 | 2321 |
| IDEX CORP | COM | 45167R104 |  | 1064645 | 7709 | SH |  | SOLE |  | 0 | 0 | 7709 |
| II VI INC | COM | 902104108 |  | 244587 | 8582 | SH |  | SOLE |  | 0 | 0 | 8582 |
| ILLINOIS TOOL WKS INC | COM | 452308109 |  | 467257 | 3288 | SH |  | SOLE |  | 0 | 0 | 3288 |
| INDEPENDENT BANK CORP MASS | COM | 453836108 |  | 220789 | 3430 | SH |  | SOLE |  | 0 | 0 | 3430 |
| INFOSYS LTD | SPONSORED ADR | 456788108 |  | 352339 | 42916 | SH |  | SOLE |  | 0 | 0 | 42916 |
| INTEL CORP | COM | 458140100 |  | 16410297 | 303221 | SH |  | SOLE |  | 0 | 0 | 303221 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 232749 | 470 | SH |  | SOLE |  | 0 | 0 | 470 |
| INVESCO EXCHANGE TRADED FD T | S QUALITY | 46137V241 |  | 2993000 | 100000 | SH |  | SOLE |  | 0 | 0 | 100000 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 761600 | 4000 | SH |  | SOLE |  | 0 | 0 | 4000 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 |  | 6738255 | 166500 | SH |  | SOLE |  | 0 | 0 | 166500 |
| ISHARES INC | MSCI JPN ETF NEW | 46434G822 |  | 436410 | 8836 | SH |  | SOLE |  | 0 | 0 | 8836 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 4715172 | 88200 | SH |  | SOLE |  | 0 | 0 | 88200 |
| ISHARES TR | SELECT DIVID ETF | 464287168 |  | 735400 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| ISHARES TR | USA QUALITY FCTR | 46432F339 |  | 891440 | 11000 | SH |  | SOLE |  | 0 | 0 | 11000 |
| J  J SNACK FOODS CORP | COM | 466032109 |  | 226512 | 1872 | SH |  | SOLE |  | 0 | 0 | 1872 |
| J2 GLOBAL INC | COM | 48123V102 |  | 317888 | 4247 | SH |  | SOLE |  | 0 | 0 | 4247 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 880507 | 6715 | SH |  | SOLE |  | 0 | 0 | 6715 |
| JONES LANG LASALLE INC | COM | 48020Q107 |  | 705784 | 6989 | SH |  | SOLE |  | 0 | 0 | 6989 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 31007069 | 344409 | SH |  | SOLE |  | 0 | 0 | 344409 |
| KADANT INC | COM | 48282T104 |  | 247390 | 3314 | SH |  | SOLE |  | 0 | 0 | 3314 |
| KAISER ALUMINUM CORP | COM PAR $0.01 | 483007704 |  | 209156 | 3019 | SH |  | SOLE |  | 0 | 0 | 3019 |
| KIMBERLY CLARK CORP | COM | 494368103 |  | 308772 | 2415 | SH |  | SOLE |  | 0 | 0 | 2415 |
| KIRBY CORP | COM | 497266106 |  | 899742 | 20698 | SH |  | SOLE |  | 0 | 0 | 20698 |
| KITE RLTY GROUP TR | COM NEW | 49803T300 |  | 137317 | 14500 | SH |  | SOLE |  | 0 | 0 | 14500 |
| KONINKLIJKE PHILIPS N V | NY REG SH NEW | 500472303 |  | 355094 | 8842 | SH |  | SOLE |  | 0 | 0 | 8842 |
| L3HARRIS TECHNOLOGIES INC | COM | 502431109 |  | 420040 | 2332 | SH |  | SOLE |  | 0 | 0 | 2332 |
| LANDSTAR SYS INC | COM | 515098101 |  | 1139489 | 11887 | SH |  | SOLE |  | 0 | 0 | 11887 |
| LENNOX INTL INC | COM | 526107107 |  | 1653980 | 9098 | SH |  | SOLE |  | 0 | 0 | 9098 |
| LEXINGTON REALTY TRUST | COM | 529043101 |  | 134194 | 13514 | SH |  | SOLE |  | 0 | 0 | 13514 |
| LIGAND PHARMACEUTICALS INC | COM NEW | 53220K504 |  | 210670 | 2897 | SH |  | SOLE |  | 0 | 0 | 2897 |
| LILLY ELI  CO | COM | 532457108 |  | 18134323 | 130726 | SH |  | SOLE |  | 0 | 0 | 130726 |
| LINDE PLC | SHS | G5494J103 |  | 226457 | 1309 | SH |  | SOLE |  | 0 | 0 | 1309 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 301112 | 888 | SH |  | SOLE |  | 0 | 0 | 888 |
| LULULEMON ATHLETICA INC | COM | 550021109 |  | 212486 | 1121 | SH |  | SOLE |  | 0 | 0 | 1121 |
| MADDEN STEVEN LTD | COM | 556269108 |  | 231533 | 9967 | SH |  | SOLE |  | 0 | 0 | 9967 |
| MANHATTAN ASSOCS INC | COM | 562750109 |  | 1036555 | 20806 | SH |  | SOLE |  | 0 | 0 | 20806 |
| MARATHON PETE CORP | COM | 56585A102 |  | 1856279 | 78589 | SH |  | SOLE |  | 0 | 0 | 78589 |
| MARKEL CORP | COM | 570535104 |  | 1119035 | 1206 | SH |  | SOLE |  | 0 | 0 | 1206 |
| MASTERCARD INC | CL A | 57636Q104 |  | 605910 | 2508 | SH |  | SOLE |  | 0 | 0 | 2508 |
| MAXLINEAR INC | COM | 57776J100 |  | 158129 | 13550 | SH |  | SOLE |  | 0 | 0 | 13550 |
| MCDONALDS CORP | COM | 580135101 |  | 21329226 | 128994 | SH |  | SOLE |  | 0 | 0 | 128994 |
| MCKESSON CORP | COM | 58155Q103 |  | 357643 | 2644 | SH |  | SOLE |  | 0 | 0 | 2644 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 790527 | 8766 | SH |  | SOLE |  | 0 | 0 | 8766 |
| MERCADOLIBRE INC | COM | 58733R102 |  | 395493 | 809 | SH |  | SOLE |  | 0 | 0 | 809 |
| MERCK  CO. INC | COM | 58933Y105 |  | 960528 | 12484 | SH |  | SOLE |  | 0 | 0 | 12484 |
| MERIT MED SYS INC | COM | 589889104 |  | 258281 | 8265 | SH |  | SOLE |  | 0 | 0 | 8265 |
| MGIC INVT CORP WIS | COM | 552848103 |  | 113379 | 17855 | SH |  | SOLE |  | 0 | 0 | 17855 |
| MICROSOFT CORP | COM | 594918104 |  | 30199708 | 191489 | SH |  | SOLE |  | 0 | 0 | 191489 |
| MINERALS TECHNOLOGIES INC | COM | 603158106 |  | 212958 | 5873 | SH |  | SOLE |  | 0 | 0 | 5873 |
| MOBILE TELESYSTEMS PJSC | SPONSORED ADR | 607409109 |  | 196164 | 25811 | SH |  | SOLE |  | 0 | 0 | 25811 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 12504976 | 249700 | SH |  | SOLE |  | 0 | 0 | 249700 |
| MORNINGSTAR INC | COM | 617700109 |  | 778022 | 6693 | SH |  | SOLE |  | 0 | 0 | 6693 |
| NASDAQ INC | COM | 631103108 |  | 310004 | 3265 | SH |  | SOLE |  | 0 | 0 | 3265 |
| NATERA INC | COM | 632307104 |  | 278594 | 9330 | SH |  | SOLE |  | 0 | 0 | 9330 |
| NATIONAL GRID PLC | SPONSORED ADR NE | 636274409 |  | 277715 | 4766 | SH |  | SOLE |  | 0 | 0 | 4766 |
| NETEASE INC | SPONSORED ADS | 64110W102 |  | 527169 | 1642 | SH |  | SOLE |  | 0 | 0 | 1642 |
| NETFLIX INC | COM | 64110L106 |  | 387516 | 1032 | SH |  | SOLE |  | 0 | 0 | 1032 |
| NEW ORIENTAL ED  TECH GRP I | SPON ADR | 647581107 |  | 334245 | 3088 | SH |  | SOLE |  | 0 | 0 | 3088 |
| NORDSON CORP | COM | 655663102 |  | 1088471 | 8059 | SH |  | SOLE |  | 0 | 0 | 8059 |
| NORTHROP GRUMMAN CORP | COM | 666807102 |  | 458204 | 1514 | SH |  | SOLE |  | 0 | 0 | 1514 |
| NORTHWESTERN CORP | COM NEW | 668074305 |  | 373279 | 6239 | SH |  | SOLE |  | 0 | 0 | 6239 |
| NOVARTIS A G | SPONSORED ADR | 66987V109 |  | 291663 | 3537 | SH |  | SOLE |  | 0 | 0 | 3537 |
| NOVO-NORDISK A S | ADR | 670100205 |  | 387086 | 6430 | SH |  | SOLE |  | 0 | 0 | 6430 |
| NUVASIVE INC | COM | 670704105 |  | 238659 | 4711 | SH |  | SOLE |  | 0 | 0 | 4711 |
| NVIDIA CORP | COM | 67066G104 |  | 234578 | 890 | SH |  | SOLE |  | 0 | 0 | 890 |
| NXP SEMICONDUCTORS N V | COM | N6596X109 |  | 215867 | 2603 | SH |  | SOLE |  | 0 | 0 | 2603 |
| OCCIDENTAL PETE CORP | COM | 674599105 |  | 1236121 | 106746 | SH |  | SOLE |  | 0 | 0 | 106746 |
| OLD NATL BANCORP IND | COM | 680033107 |  | 228002 | 17286 | SH |  | SOLE |  | 0 | 0 | 17286 |
| OPEN TEXT CORP | COM | 683715106 |  | 483013 | 13832 | SH |  | SOLE |  | 0 | 0 | 13832 |
| ORACLE CORP | COM | 68389X105 |  | 14647311 | 303069 | SH |  | SOLE |  | 0 | 0 | 303069 |
| PAGSEGURO DIGITAL LTD | COM CL A | G68707101 |  | 205671 | 10640 | SH |  | SOLE |  | 0 | 0 | 10640 |
| PATTERSON UTI ENERGY INC | COM | 703481101 |  | 25829 | 10991 | SH |  | SOLE |  | 0 | 0 | 10991 |
| PEBBLEBROOK HOTEL TR | COM | 70509V100 |  | 112298 | 10312 | SH |  | SOLE |  | 0 | 0 | 10312 |
| PEPSICO INC | COM | 713448108 |  | 15984371 | 133092 | SH |  | SOLE |  | 0 | 0 | 133092 |
| PFIZER INC | COM | 717081103 |  | 20755885 | 635904 | SH |  | SOLE |  | 0 | 0 | 635904 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 278335 | 3815 | SH |  | SOLE |  | 0 | 0 | 3815 |
| PHYSICIANS RLTY TR | COM | 71943U104 |  | 190420 | 13660 | SH |  | SOLE |  | 0 | 0 | 13660 |
| PNC FINL SVCS GROUP INC | COM | 693475105 |  | 275369 | 2877 | SH |  | SOLE |  | 0 | 0 | 2877 |
| POOL CORPORATION | COM | 73278L105 |  | 647177 | 3289 | SH |  | SOLE |  | 0 | 0 | 3289 |
| PPG INDS INC | COM | 693506107 |  | 412822 | 4938 | SH |  | SOLE |  | 0 | 0 | 4938 |
| PRESTIGE CONSMR HEALTHCARE I | COM | 74112D101 |  | 295347 | 8052 | SH |  | SOLE |  | 0 | 0 | 8052 |
| PROCTER  GAMBLE CO | COM | 742718109 |  | 231440 | 2104 | SH |  | SOLE |  | 0 | 0 | 2104 |
| PROSPERITY BANCSHARES INC | COM | 743606105 |  | 612920 | 12703 | SH |  | SOLE |  | 0 | 0 | 12703 |
| PRUDENTIAL PLC | ADR | 74435K204 |  | 467030 | 18847 | SH |  | SOLE |  | 0 | 0 | 18847 |
| Q2 HLDGS INC | COM | 74736L109 |  | 305754 | 5177 | SH |  | SOLE |  | 0 | 0 | 5177 |
| QUIDEL CORP | COM | 74838J101 |  | 453838 | 4640 | SH |  | SOLE |  | 0 | 0 | 4640 |
| RAPID7 INC | COM | 753422104 |  | 228696 | 5278 | SH |  | SOLE |  | 0 | 0 | 5278 |
| REPLIGEN CORP | COM | 759916109 |  | 411550 | 4263 | SH |  | SOLE |  | 0 | 0 | 4263 |
| RETROPHIN INC | COM | 761299106 |  | 221812 | 15203 | SH |  | SOLE |  | 0 | 0 | 15203 |
| RPM INTL INC | COM | 749685103 |  | 1340586 | 22531 | SH |  | SOLE |  | 0 | 0 | 22531 |
| RPT REALTY | SH BEN INT | 74971D101 |  | 132135 | 21913 | SH |  | SOLE |  | 0 | 0 | 21913 |
| SALESFORCE COM INC | COM | 79466L302 |  | 35001826 | 243102 | SH |  | SOLE |  | 0 | 0 | 243102 |
| SALLY BEAUTY HLDGS INC | COM | 79546E104 |  | 475306 | 58825 | SH |  | SOLE |  | 0 | 0 | 58825 |
| SANOFI | SPONSORED ADR | 80105N105 |  | 438206 | 10023 | SH |  | SOLE |  | 0 | 0 | 10023 |
| SAP SE | SPON ADR | 803054204 |  | 430398 | 3895 | SH |  | SOLE |  | 0 | 0 | 3895 |
| SEI INVESTMENTS CO | COM | 784117103 |  | 1160561 | 25044 | SH |  | SOLE |  | 0 | 0 | 25044 |
| SELECTIVE INS GROUP INC | COM | 816300107 |  | 214306 | 4312 | SH |  | SOLE |  | 0 | 0 | 4312 |
| SEMTECH CORP | COM | 816850101 |  | 231525 | 6174 | SH |  | SOLE |  | 0 | 0 | 6174 |
| SENSIENT TECHNOLOGIES CORP | COM | 81725T100 |  | 721178 | 16575 | SH |  | SOLE |  | 0 | 0 | 16575 |
| SERVICE CORP INTL | COM | 817565104 |  | 680640 | 17403 | SH |  | SOLE |  | 0 | 0 | 17403 |
| SERVICEMASTER GLOBAL HLDGS I | COM | 81761R109 |  | 1470663 | 54469 | SH |  | SOLE |  | 0 | 0 | 54469 |
| SHERWIN WILLIAMS CO | COM | 824348106 |  | 221807 | 483 | SH |  | SOLE |  | 0 | 0 | 483 |
| SHINHAN FINANCIAL GROUP CO L | SPN ADR RESTRD | 824596100 |  | 217806 | 9344 | SH |  | SOLE |  | 0 | 0 | 9344 |
| SILICON LABORATORIES INC | COM | 826919102 |  | 215489 | 2523 | SH |  | SOLE |  | 0 | 0 | 2523 |
| SK TELECOM LTD | SPONSORED ADR | 78440P108 |  | 503622 | 30954 | SH |  | SOLE |  | 0 | 0 | 30954 |
| SONY CORP | SPONSORED ADR | 835699307 |  | 710397 | 12004 | SH |  | SOLE |  | 0 | 0 | 12004 |
| SOUTH JERSEY INDS INC | COM | 838518108 |  | 386180 | 15447 | SH |  | SOLE |  | 0 | 0 | 15447 |
| SOUTHERN CO | COM | 842587107 |  | 459107 | 8480 | SH |  | SOLE |  | 0 | 0 | 8480 |
| SPDR DOW JONES INDL AVRG ETF | UT SER 1 | 78467X109 |  | 2630760 | 12000 | SH |  | SOLE |  | 0 | 0 | 12000 |
| SPDR INDEX SHS FDS | MSCI ACWI EXUS | 78463X848 |  | 494972 | 25100 | SH |  | SOLE |  | 0 | 0 | 25100 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 7964475 | 30900 | SH |  | SOLE |  | 0 | 0 | 30900 |
| SPDR S MIDCAP 400 ETF TR | UTSER1 S | 78467Y107 |  | 19755432 | 75150 | SH |  | SOLE |  | 0 | 0 | 75150 |
| SPECTRUM PHARMACEUTICALS INC | COM | 84763A108 |  | 30495 | 13088 | SH |  | SOLE |  | 0 | 0 | 13088 |
| SPIRE INC | COM | 84857L101 |  | 429063 | 5761 | SH |  | SOLE |  | 0 | 0 | 5761 |
| STANLEY BLACK  DECKER INC | COM | 854502101 |  | 258100 | 2581 | SH |  | SOLE |  | 0 | 0 | 2581 |
| STARBUCKS CORP | COM | 855244109 |  | 21717407 | 330353 | SH |  | SOLE |  | 0 | 0 | 330353 |
| STIFEL FINL CORP | COM | 860630102 |  | 257835 | 6246 | SH |  | SOLE |  | 0 | 0 | 6246 |
| SUNCOR ENERGY INC NEW | COM | 867224107 |  | 201371 | 12745 | SH |  | SOLE |  | 0 | 0 | 12745 |
| TABULA RASA HEALTHCARE INC | COM | 873379101 |  | 262548 | 5021 | SH |  | SOLE |  | 0 | 0 | 5021 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 2617766 | 54776 | SH |  | SOLE |  | 0 | 0 | 54776 |
| TAKEDA PHARMACEUTICAL CO LTD | SPONSORED ADS | 874060205 |  | 461335 | 30391 | SH |  | SOLE |  | 0 | 0 | 30391 |
| TELADOC HEALTH INC | COM | 87918A105 |  | 457900 | 2954 | SH |  | SOLE |  | 0 | 0 | 2954 |
| TELEFLEX INCORPORATED | COM | 879369106 |  | 2550082 | 8708 | SH |  | SOLE |  | 0 | 0 | 8708 |
| TETRA TECH INC NEW | COM | 88162G103 |  | 363905 | 5153 | SH |  | SOLE |  | 0 | 0 | 5153 |
| TEXAS INSTRS INC | COM | 882508104 |  | 696356 | 6969 | SH |  | SOLE |  | 0 | 0 | 6969 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 23611945 | 83258 | SH |  | SOLE |  | 0 | 0 | 83258 |
| THOMSON REUTERS CORP | COM NEW | 884903709 |  | 254611 | 3752 | SH |  | SOLE |  | 0 | 0 | 3752 |
| TOWER SEMICONDUCTOR LTD | SHS NEW | M87915274 |  | 350925 | 22043 | SH |  | SOLE |  | 0 | 0 | 22043 |
| TRANE TECHNOLOGIES PLC | SHS | G8994E103 |  | 431370 | 5223 | SH |  | SOLE |  | 0 | 0 | 5223 |
| TRANSUNION | COM | 89400J107 |  | 1775496 | 26828 | SH |  | SOLE |  | 0 | 0 | 26828 |
| TRAVELERS COMPANIES INC | COM | 89417E109 |  | 215809 | 2172 | SH |  | SOLE |  | 0 | 0 | 2172 |
| TRIMBLE INC | COM | 896239100 |  | 599582 | 18837 | SH |  | SOLE |  | 0 | 0 | 18837 |
| TRUIST FINL CORP | COM | 89832Q109 |  | 245610 | 7964 | SH |  | SOLE |  | 0 | 0 | 7964 |
| TUFIN SOFTWARE TECHNOLOGIS L | SHS | M8893U102 |  | 100004 | 11390 | SH |  | SOLE |  | 0 | 0 | 11390 |
| ULTA BEAUTY INC | COM | 90384S303 |  | 506192 | 2881 | SH |  | SOLE |  | 0 | 0 | 2881 |
| ULTRAGENYX PHARMACEUTICAL IN | COM | 90400D108 |  | 289461 | 6515 | SH |  | SOLE |  | 0 | 0 | 6515 |
| UMPQUA HLDGS CORP | COM | 904214103 |  | 851963 | 78162 | SH |  | SOLE |  | 0 | 0 | 78162 |
| UNILEVER N V | N Y SHS NEW | 904784709 |  | 467782 | 9588 | SH |  | SOLE |  | 0 | 0 | 9588 |
| UNION PAC CORP | COM | 907818108 |  | 31045984 | 220122 | SH |  | SOLE |  | 0 | 0 | 220122 |
| UNITED TECHNOLOGIES CORP | COM | 913017109 |  | 23389484 | 247954 | SH |  | SOLE |  | 0 | 0 | 247954 |
| US BANCORP DEL | COM NEW | 902973304 |  | 372014 | 10799 | SH |  | SOLE |  | 0 | 0 | 10799 |
| VALLEY NATL BANCORP | COM | 919794107 |  | 184351 | 25219 | SH |  | SOLE |  | 0 | 0 | 25219 |
| VANDA PHARMACEUTICALS INC | COM | 921659108 |  | 148676 | 14351 | SH |  | SOLE |  | 0 | 0 | 14351 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 |  | 10121685 | 246750 | SH |  | SOLE |  | 0 | 0 | 246750 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 10711362 | 319266 | SH |  | SOLE |  | 0 | 0 | 319266 |
| VANGUARD SCOTTSDALE FDS | VNG RUS2000IDX | 92206C664 |  | 1148015 | 12450 | SH |  | SOLE |  | 0 | 0 | 12450 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 2790289 | 26988 | SH |  | SOLE |  | 0 | 0 | 26988 |
| VARIAN MED SYS INC | COM | 92220P105 |  | 606002 | 5903 | SH |  | SOLE |  | 0 | 0 | 5903 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 13823826 | 257283 | SH |  | SOLE |  | 0 | 0 | 257283 |
| VISA INC | COM CL A | 92826C839 |  | 272615 | 1692 | SH |  | SOLE |  | 0 | 0 | 1692 |
| WALMART INC | COM | 931142103 |  | 9907101 | 87195 | SH |  | SOLE |  | 0 | 0 | 87195 |
| WESTAMERICA BANCORPORATION | COM | 957090103 |  | 652230 | 11096 | SH |  | SOLE |  | 0 | 0 | 11096 |
| WEX INC | COM | 96208T104 |  | 1175978 | 11248 | SH |  | SOLE |  | 0 | 0 | 11248 |
| WISDOMTREE TR | JAPN HEDGE EQT | 97717W851 |  | 5479500 | 130000 | SH |  | SOLE |  | 0 | 0 | 130000 |
| WNS HOLDINGS LTD | SPON ADR | 92932M101 |  | 243396 | 5663 | SH |  | SOLE |  | 0 | 0 | 5663 |
| WRIGHT MED GROUP N V | ORD SHS | N96617118 |  | 203759 | 7112 | SH |  | SOLE |  | 0 | 0 | 7112 |
| YANDEX N V | SHS CLASS A | N97284108 |  | 533564 | 15670 | SH |  | SOLE |  | 0 | 0 | 15670 |
| ZOETIS INC | CL A | 98978V103 |  | 202795 | 1723 | SH |  | SOLE |  | 0 | 0 | 1723 |

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