# EDGAR Filing Document

**Accession Number:** 0001079112
**File Stem:** 0001079112-26-000003
**Filing Date:** 2026-4
**Character Count:** 29804
**Document Hash:** 374647bd131567dcba42143099ed55ce
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001079112-26-000003.hdr.sgml**: 20260414

**ACCESSION NUMBER**: 0001079112-26-000003

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260414

**DATE AS OF CHANGE**: 20260414

**EFFECTIVENESS DATE**: 20260414

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HOWLAND CAPITAL MANAGEMENT LLC
- **CENTRAL INDEX KEY:** 0001079112

**ORGANIZATION NAME:**
- **EIN:** 461580977
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-03717
- **FILM NUMBER:** 26860572

**BUSINESS ADDRESS:**
- **STREET 1:** 75 FEDERAL STREET
- **STREET 2:** SUITE 1100
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
- **BUSINESS PHONE:** 6173579110

**MAIL ADDRESS:**
- **STREET 1:** 75 FEDERAL STREET SUITE 1100
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110-1911

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HOWLAND CAPITAL MANAGEMENT INC
- **DATE OF NAME CHANGE:** 19990325

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 03-31-2026

**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:** HOWLAND CAPITAL MANAGEMENT LLC<br>**Address:** 75 FEDERAL STREET SUITE 1100<br>BOSTON, MA 02110-1911

**Form 13F File Number:** 028-03717

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:** Lauren McDonough<br>**Title:** Compliance Associate<br>**Phone:** 6173579110

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

Lauren T. McDonough  Boston, MA  04-14-2026<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:** 262

**Form 13F Information Table Value Total:** $2530260737

      (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 |
| 3M CO | COM | 88579Y101 |  | 908725 | 6257 | SH |  | SOLE |  | 5850 | 0 | 407 |
| ABBOTT LABORATORIES | COM | 002824100 |  | 4665120 | 45438 | SH |  | SOLE |  | 14349 | 0 | 31089 |
| ABBVIE INC | COM | 00287Y109 |  | 6451189 | 29662 | SH |  | SOLE |  | 11918 | 0 | 17744 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 4973907 | 25084 | SH |  | SOLE |  | 19445 | 0 | 5639 |
| ADOBE INC | COM | 00724F101 |  | 428551 | 1763 | SH |  | SOLE |  | 646 | 0 | 1117 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 274428 | 1349 | SH |  | SOLE |  | 125 | 0 | 1224 |
| AGNC INVT CORP | COM | 00123Q104 |  | 332596 | 32768 | SH |  | SOLE |  | 32768 | 0 | 0 |
| AIR PRODUCTS AND CHEMICALS I | COM | 009158106 |  | 1218606 | 4195 | SH |  | SOLE |  | 1080 | 0 | 3115 |
| AKAMAI TECHNOLOGIES INC | COM | 00971T101 |  | 246928 | 2150 | SH |  | SOLE |  | 1450 | 0 | 700 |
| ALIGN TECHNOLOGY INC | COM | 016255101 |  | 239488 | 1397 | SH |  | SOLE |  | 1397 | 0 | 0 |
| ALNYLAM PHARMACEUTICALS INC | COM | 02043Q107 |  | 1400904 | 4234 | SH |  | SOLE |  | 1234 | 0 | 3000 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 151265144 | 526030 | SH |  | SOLE |  | 393957 | 0 | 132073 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 13483901 | 47005 | SH |  | SOLE |  | 19571 | 0 | 27434 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 757889 | 11303 | SH |  | SOLE |  | 2340 | 0 | 8963 |
| AMAZON COM INC | COM | 023135106 |  | 70290917 | 337499 | SH |  | SOLE |  | 221836 | 0 | 115663 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 666969 | 2205 | SH |  | SOLE |  | 250 | 0 | 1955 |
| AMERICAN TOWER CORP | COM | 03027X100 |  | 15895136 | 92103 | SH |  | SOLE |  | 78030 | 0 | 14073 |
| AMERICAN WTR WKS CO INC NEW | COM | 030420103 |  | 26856545 | 197344 | SH |  | SOLE |  | 159381 | 0 | 37963 |
| AMGEN INC | COM | 031162100 |  | 1159698 | 3296 | SH |  | SOLE |  | 1826 | 0 | 1470 |
| AMPHENOL CORP | CL A | 032095101 |  | 60078101 | 474544 | SH |  | SOLE |  | 378211 | 0 | 96333 |
| ANALOG DEVICES INC | COM | 032654105 |  | 813484 | 2557 | SH |  | SOLE |  | 742 | 0 | 1815 |
| APPLE INC | COM | 037833100 |  | 136779994 | 538950 | SH |  | SOLE |  | 330236 | 0 | 208714 |
| APPLIED MATLS INC | COM | 038222105 |  | 961114 | 2812 | SH |  | SOLE |  | 2784 | 0 | 28 |
| ASML HLDG NV | N Y REGISTRY SHS | N07059210 |  | 475499 | 360 | SH |  | SOLE |  | 285 | 0 | 75 |
| ASTRAZENECA PLC | ORD | G0593M107 |  | 591660 | 3000 | SH |  | SOLE |  | 2250 | 0 | 750 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 21730157 | 106094 | SH |  | SOLE |  | 85446 | 0 | 20648 |
| AVERY DENNISON CORP | COM | 053611109 |  | 376443 | 2180 | SH |  | SOLE |  | 2000 | 0 | 180 |
| AXSOME THERAPEUTICS INC. | COM | 05464T104 |  | 375225 | 2220 | SH |  | SOLE |  | 2220 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 1859715 | 38148 | SH |  | SOLE |  | 8686 | 0 | 29462 |
| BECTON DICKINSON  CO | COM | 075887109 |  | 572318 | 3640 | SH |  | SOLE |  | 2299 | 0 | 1341 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 87264237 | 182104 | SH |  | SOLE |  | 147101 | 0 | 35003 |
| BLACKROCK INC | COM | 09290D101 |  | 807847 | 840 | SH |  | SOLE |  | 42 | 0 | 798 |
| BLACKSTONE INC | COM | 09260D107 |  | 8249622 | 71742 | SH |  | SOLE |  | 58286 | 0 | 13456 |
| BP PLC | SPONSORED ADR | 055622104 |  | 391181 | 8323 | SH |  | SOLE |  | 8273 | 0 | 50 |
| BRINKER INTL INC | COM | 109641100 |  | 1734085 | 12146 | SH |  | SOLE |  | 546 | 0 | 11600 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 1366196 | 22526 | SH |  | SOLE |  | 5682 | 0 | 16844 |
| BROADCOM INC | COM | 11135F101 |  | 1960127 | 6333 | SH |  | SOLE |  | 952 | 0 | 5381 |
| BROWN FORMAN CORP | CL B | 115637209 |  | 233372 | 8750 | SH |  | SOLE |  | 8750 | 0 | 0 |
| CACI INTL INC | CL A | 127190304 |  | 761418 | 1400 | SH |  | SOLE |  | 1400 | 0 | 0 |
| CANADIAN NATL RY CO | COM | 136375102 |  | 341197 | 3320 | SH |  | SOLE |  | 1600 | 0 | 1720 |
| CARRIER GLOBAL CORPORATION | COM | 14448C104 |  | 226369 | 4020 | SH |  | SOLE |  | 3136 | 0 | 884 |
| CATERPILLAR INC | COM | 149123101 |  | 4736056 | 6685 | SH |  | SOLE |  | 5977 | 0 | 708 |
| CBOE GLOBAL MKTS INC | COM | 12503M108 |  | 407271 | 1449 | SH |  | SOLE |  | 1449 | 0 | 0 |
| CHEVRON CORPORATION | COM | 166764100 |  | 35473005 | 171450 | SH |  | SOLE |  | 132227 | 0 | 39223 |
| CHUBB LTD SWITZ | COM | H1467J104 |  | 32063352 | 98089 | SH |  | SOLE |  | 82563 | 0 | 15526 |
| CHURCH  DWIGHT CO INC | COM | 171340102 |  | 507755 | 5441 | SH |  | SOLE |  | 3851 | 0 | 1590 |
| CINTAS CORP | COM | 172908105 |  | 1608353 | 9509 | SH |  | SOLE |  | 273 | 0 | 9236 |
| CISCO SYS INC | COM | 17275R102 |  | 3761839 | 48484 | SH |  | SOLE |  | 17363 | 0 | 31121 |
| COCA COLA CO | COM | 191216100 |  | 6927425 | 90485 | SH |  | SOLE |  | 38636 | 0 | 51849 |
| COLGATE PALMOLIVE CO | COM | 194162103 |  | 1979638 | 23227 | SH |  | SOLE |  | 9580 | 0 | 13647 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 411070 | 14318 | SH |  | SOLE |  | 2722 | 0 | 11596 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 2652200 | 20092 | SH |  | SOLE |  | 142 | 0 | 19950 |
| CORNING INC | COM | 219350105 |  | 1411505 | 10381 | SH |  | SOLE |  | 5291 | 0 | 5090 |
| CORTEVA INC | COM | 22052L104 |  | 526536 | 6290 | SH |  | SOLE |  | 2136 | 0 | 4154 |
| COSTCO WHOLESALE CORPORATION | COM | 22160K105 |  | 25702912 | 25795 | SH |  | SOLE |  | 14990 | 0 | 10805 |
| COUPANG INC | CL A | 22266T109 |  | 982516 | 52040 | SH |  | SOLE |  | 51040 | 0 | 1000 |
| CROWDSTRIKE HLDGS INC | CL A | 22788C105 |  | 1006868 | 2579 | SH |  | SOLE |  | 790 | 0 | 1789 |
| CSX CORP | COM | 126408103 |  | 898462 | 21887 | SH |  | SOLE |  | 10787 | 0 | 11100 |
| CUMMINS INC | COM | 231021106 |  | 489599 | 910 | SH |  | SOLE |  | 910 | 0 | 0 |
| DANAHER CORP DEL | COM | 235851102 |  | 34659246 | 182417 | SH |  | SOLE |  | 143094 | 0 | 39323 |
| DARDEN RESTAURANTS INC | COM | 237194105 |  | 666536 | 3400 | SH |  | SOLE |  | 3400 | 0 | 0 |
| DEERE  CO | COM | 244199105 |  | 790888 | 1400 | SH |  | SOLE |  | 1200 | 0 | 200 |
| DEVON ENERGY CORP NEW | COM | 25179M103 |  | 204602 | 4066 | SH |  | SOLE |  | 4066 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 477081 | 4950 | SH |  | SOLE |  | 4950 | 0 | 0 |
| DORCHESTER MINERALS L P | COM UNIT | 25820R105 |  | 277965 | 10257 | SH |  | SOLE |  | 10257 | 0 | 0 |
| DOVER CORP | COM | 260003108 |  | 285577 | 1370 | SH |  | SOLE |  | 1370 | 0 | 0 |
| DUPONT DE NEMOURS INC | COM | 26614N102 |  | 389667 | 8508 | SH |  | SOLE |  | 3418 | 0 | 5090 |
| EASTERN BANKSHARES INC | COM | 27627N105 |  | 611642 | 31270 | SH |  | SOLE |  | 19912 | 0 | 11358 |
| EATON CORP PLC | SHS | G29183103 |  | 4694777 | 13126 | SH |  | SOLE |  | 135 | 0 | 12991 |
| EBAY INC. | COM | 278642103 |  | 300366 | 3300 | SH |  | SOLE |  | 1300 | 0 | 2000 |
| ECOLAB INC | COM | 278865100 |  | 48167193 | 180571 | SH |  | SOLE |  | 141959 | 0 | 38612 |
| EDWARDS LIFESCIENCES CORP | COM | 28176E108 |  | 2489608 | 31089 | SH |  | SOLE |  | 11370 | 0 | 19719 |
| ELI LILLY  CO | COM | 532457108 |  | 3104321 | 3375 | SH |  | SOLE |  | 1627 | 0 | 1748 |
| EMERSON ELEC CO | COM | 291011104 |  | 3509305 | 26784 | SH |  | SOLE |  | 8411 | 0 | 18373 |
| ENTERPRISE PRODS PARTNERS L | COM | 293792107 |  | 338668 | 8950 | SH |  | SOLE |  | 7150 | 0 | 1800 |
| EQUIFAX INC | COM | 294429105 |  | 804913 | 4470 | SH |  | SOLE |  | 750 | 0 | 3720 |
| EQUITY RESIDENTIAL | SH BEN INT | 29476L107 |  | 258324 | 4316 | SH |  | SOLE |  | 266 | 0 | 4050 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 25979456 | 153127 | SH |  | SOLE |  | 95471 | 0 | 57656 |
| FEDEX CORP | COM | 31428X106 |  | 723844 | 2024 | SH |  | SOLE |  | 283 | 0 | 1741 |
| FISERV INC | COM | 337738108 |  | 590532 | 10583 | SH |  | SOLE |  | 7100 | 0 | 3483 |
| FORTINET INC | COM | 34959E109 |  | 555696 | 6800 | SH |  | SOLE |  | 250 | 0 | 6550 |
| FRANCO NEV CORP | COM | 351858105 |  | 1586556 | 6422 | SH |  | SOLE |  | 6422 | 0 | 0 |
| GE AEROSPACE | COM NEW | 369604301 |  | 18405393 | 64753 | SH |  | SOLE |  | 62642 | 0 | 2111 |
| GE HEALTHCARE TECHNOLOGIES I | COMMON STOCK | 36266G107 |  | 1432925 | 20131 | SH |  | SOLE |  | 20123 | 0 | 8 |
| GE VERNOVA INC | COM | 36828A101 |  | 13830289 | 15835 | SH |  | SOLE |  | 15449 | 0 | 386 |
| GENERAL MILLS INC | COM | 370334104 |  | 522867 | 14048 | SH |  | SOLE |  | 9800 | 0 | 4248 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 1585752 | 11378 | SH |  | SOLE |  | 10052 | 0 | 1326 |
| GRAYSCALE BITCOIN TRUST ETF | SHS REP COM UT | 389637109 |  | 612016 | 11600 | SH |  | SOLE |  | 11600 | 0 | 0 |
| HEALTHPEAK PROPERTIES INC | COM | 42250P103 |  | 164300 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| HERSHEY CO | COM | 427866108 |  | 1475188 | 7096 | SH |  | SOLE |  | 6096 | 0 | 1000 |
| HOME DEPOT INC | COM | 437076102 |  | 3770815 | 11465 | SH |  | SOLE |  | 2493 | 0 | 8972 |
| HONEYWELL INTL INC | COM | 438516106 |  | 741379 | 3280 | SH |  | SOLE |  | 815 | 0 | 2465 |
| IDEXX LABS INC | COM | 45168D104 |  | 26677414 | 47478 | SH |  | SOLE |  | 41091 | 0 | 6387 |
| ILLINOIS TOOL WKS INC | COM | 452308109 |  | 2518914 | 9618 | SH |  | SOLE |  | 891 | 0 | 8727 |
| ILLUMINA INC | COM | 452327109 |  | 2075945 | 16842 | SH |  | SOLE |  | 1645 | 0 | 15197 |
| INDEPENDENT BK CORP MASS | COM | 453836108 |  | 3777330 | 49800 | SH |  | SOLE |  | 800 | 0 | 49000 |
| INTEL CORP | COM | 458140100 |  | 1632558 | 36994 | SH |  | SOLE |  | 2241 | 0 | 34753 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 3825865 | 15784 | SH |  | SOLE |  | 5936 | 0 | 9848 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 2217362 | 4810 | SH |  | SOLE |  | 3425 | 0 | 1385 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 7291809 | 37994 | SH |  | SOLE |  | 2296 | 0 | 35698 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 1459112 | 2528 | SH |  | SOLE |  | 414 | 0 | 2114 |
| IRON MTN INC DEL | COM | 46284V101 |  | 425130 | 4147 | SH |  | SOLE |  | 1800 | 0 | 2347 |
| ISHARES GOLD TR | ISHARES NEW | 464285204 |  | 4671952 | 52994 | SH |  | SOLE |  | 50447 | 0 | 2547 |
| ISHARES GOLD TR | SHARES REPRESENT | 46436F103 |  | 12844602 | 275045 | SH |  | SOLE |  | 194916 | 0 | 80129 |
| ISHARES INC | ESG AWR MSCI EM | 46434G863 |  | 686234 | 15092 | SH |  | SOLE |  | 10696 | 0 | 4396 |
| ISHARES TR | CORE MSCI TOTAL | 46432F834 |  | 13727935 | 158448 | SH |  | SOLE |  | 122790 | 0 | 35658 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 1071364 | 15865 | SH |  | SOLE |  | 13340 | 0 | 2525 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 1158321 | 9318 | SH |  | SOLE |  | 8684 | 0 | 634 |
| ISHARES TR | CORE S US VLU | 464287663 |  | 1377308 | 13470 | SH |  | SOLE |  | 13200 | 0 | 270 |
| ISHARES TR | CORE S ETF | 464287200 |  | 2118361 | 3243 | SH |  | SOLE |  | 906 | 0 | 2337 |
| ISHARES TR | CORE US AGGBD ET | 464287226 |  | 1373103 | 13832 | SH |  | SOLE |  | 157 | 0 | 13675 |
| ISHARES TR | ESG AW MSCI EAFE | 46435G516 |  | 19491755 | 203846 | SH |  | SOLE |  | 190975 | 0 | 12871 |
| ISHARES TR | IBDS DEC28 ETF | 46435U515 |  | 31171757 | 1230626 | SH |  | SOLE |  | 831953 | 0 | 398673 |
| ISHARES TR | IBOND DEC 2030 | 46436E593 |  | 3463148 | 175616 | SH |  | SOLE |  | 155591 | 0 | 20025 |
| ISHARES TR | IBONDS 2026 TERM | 46436E528 |  | 315333 | 13740 | SH |  | SOLE |  | 13740 | 0 | 0 |
| ISHARES TR | IBONDS 26 TRM TS | 46436E858 |  | 3681639 | 160665 | SH |  | SOLE |  | 134474 | 0 | 26191 |
| ISHARES TR | IBONDS 27 ETF | 46435UAA9 |  | 30780437 | 1269820 | SH |  | SOLE |  | 825223 | 0 | 444597 |
| ISHARES TR | IBONDS 27 TRM TS | 46436E841 |  | 2623413 | 116960 | SH |  | SOLE |  | 99372 | 0 | 17588 |
| ISHARES TR | IBONDS 28 TRM TS | 46436E833 |  | 3112646 | 139687 | SH |  | SOLE |  | 119752 | 0 | 19935 |
| ISHARES TR | IBONDS 29 TRM TS | 46436E825 |  | 3327476 | 152336 | SH |  | SOLE |  | 130868 | 0 | 21468 |
| ISHARES TR | IBONDS DEC 2029 | 46436E163 |  | 4308765 | 169971 | SH |  | SOLE |  | 144251 | 0 | 25720 |
| ISHARES TR | IBONDS DEC 2030 | 46436E726 |  | 19299297 | 881649 | SH |  | SOLE |  | 610087 | 0 | 271562 |
| ISHARES TR | IBONDS DEC 2031 | 46438G356 |  | 251536 | 9800 | SH |  | SOLE |  | 9800 | 0 | 0 |
| ISHARES TR | IBONDS DEC 2031 | 46436E460 |  | 1759630 | 86261 | SH |  | SOLE |  | 53821 | 0 | 32440 |
| ISHARES TR | IBONDS DEC 2031 | 46436E486 |  | 10900889 | 520826 | SH |  | SOLE |  | 317646 | 0 | 203180 |
| ISHARES TR | IBONDS DEC 2032 | 46436E312 |  | 4700195 | 185999 | SH |  | SOLE |  | 122879 | 0 | 63120 |
| ISHARES TR | IBONDS DEC 2033 | 46436E130 |  | 2304502 | 89149 | SH |  | SOLE |  | 59741 | 0 | 29408 |
| ISHARES TR | IBONDS DEC 26 | 46435U259 |  | 4720431 | 184176 | SH |  | SOLE |  | 98186 | 0 | 85990 |
| ISHARES TR | IBONDS DEC 27 | 46435U283 |  | 6176960 | 242805 | SH |  | SOLE |  | 157970 | 0 | 84835 |
| ISHARES TR | IBONDS DEC 28 | 46435U325 |  | 10555124 | 413440 | SH |  | SOLE |  | 329270 | 0 | 84170 |
| ISHARES TR | IBONDS DEC 29 | 46436E205 |  | 23618367 | 1015407 | SH |  | SOLE |  | 688315 | 0 | 327092 |
| ISHARES TR | IBONDS DEC2026 | 46435GAA0 |  | 32191690 | 1328040 | SH |  | SOLE |  | 896406 | 0 | 431634 |
| ISHARES TR | IBOXX HI YD ETF | 464288513 |  | 950663 | 11949 | SH |  | SOLE |  | 224 | 0 | 11725 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 561509 | 5781 | SH |  | SOLE |  | 5714 | 0 | 67 |
| ISHARES TR | MSCI EMG MKT ETF | 464287234 |  | 2114633 | 37236 | SH |  | SOLE |  | 31236 | 0 | 6000 |
| ISHARES TR | RUS 1000 ETF | 464287622 |  | 217146 | 609 | SH |  | SOLE |  | 609 | 0 | 0 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 3883652 | 9108 | SH |  | SOLE |  | 8882 | 0 | 226 |
| ISHARES TR | RUS MID CAP ETF | 464287499 |  | 322415 | 3316 | SH |  | SOLE |  | 3316 | 0 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 506912 | 2044 | SH |  | SOLE |  | 1906 | 0 | 138 |
| ISHARES TR | SELECT DIVID ETF | 464287168 |  | 2701609 | 17843 | SH |  | SOLE |  | 16665 | 0 | 1178 |
| ISHARES TR | ULTRA SHORT DUR | 46434V878 |  | 3703056 | 73154 | SH |  | SOLE |  | 64888 | 0 | 8266 |
| JANUS DETROIT STR TR | HENDRSN SHRT ETF | 47103U886 |  | 4330997 | 88303 | SH |  | SOLE |  | 82706 | 0 | 5597 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 21535588 | 88102 | SH |  | SOLE |  | 74781 | 0 | 13321 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 11552361 | 39272 | SH |  | SOLE |  | 24259 | 0 | 15013 |
| KIMBERLY-CLARK CORP | COM | 494368103 |  | 517961 | 5295 | SH |  | SOLE |  | 1195 | 0 | 4100 |
| KINSALE CAP GROUP INC | COM | 49714P108 |  | 23460768 | 68667 | SH |  | SOLE |  | 55292 | 0 | 13375 |
| KLA CORP | COM NEW | 482480100 |  | 424055 | 288 | SH |  | SOLE |  | 271 | 0 | 17 |
| L3HARRIS TECHNOLOGIES INC | COM | 502431109 |  | 913958 | 2648 | SH |  | SOLE |  | 2450 | 0 | 198 |
| LIBERTY MEDIA CORP DEL | COM LBTY ONE S C | 531229755 |  | 259567 | 3053 | SH |  | SOLE |  | 3000 | 0 | 53 |
| LINDE PLC | SHS | G54950103 |  | 745128 | 1503 | SH |  | SOLE |  | 1451 | 0 | 52 |
| LOWES COS INC | COM | 548661107 |  | 600960 | 2543 | SH |  | SOLE |  | 2295 | 0 | 248 |
| MARKEL GROUP INC | COM | 570535104 |  | 361760 | 189 | SH |  | SOLE |  | 189 | 0 | 0 |
| MARSH  MCLENNAN COS INC | COM | 571748102 |  | 1991553 | 11482 | SH |  | SOLE |  | 7550 | 0 | 3932 |
| MASCO CORP | COM | 574599106 |  | 1012466 | 16771 | SH |  | SOLE |  | 571 | 0 | 16200 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 3598552 | 7202 | SH |  | SOLE |  | 4447 | 0 | 2755 |
| MCCORMICK  CO INC | COM NON VTG | 579780206 |  | 3350175 | 66419 | SH |  | SOLE |  | 55086 | 0 | 11333 |
| MCDONALDS CORP | COM | 580135101 |  | 3227537 | 10385 | SH |  | SOLE |  | 1792 | 0 | 8593 |
| MERCADOLIBRE INC | COM | 58733R102 |  | 24766483 | 14324 | SH |  | SOLE |  | 11309 | 0 | 3015 |
| MERCK  CO INC | COM | 58933Y105 |  | 5597826 | 46206 | SH |  | SOLE |  | 20447 | 0 | 25759 |
| META PLATFORMS INC | CL A | 30303M102 |  | 57817207 | 101056 | SH |  | SOLE |  | 80674 | 0 | 20382 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 438374 | 1297 | SH |  | SOLE |  | 600 | 0 | 697 |
| MICROSOFT CORP | COM | 594918104 |  | 103209319 | 278816 | SH |  | SOLE |  | 207552 | 0 | 71264 |
| MOODYS CORP | COM | 615369105 |  | 455882 | 1045 | SH |  | SOLE |  | 15 | 0 | 1030 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 3067789 | 18641 | SH |  | SOLE |  | 15059 | 0 | 3582 |
| NEBIUS GROUP N.V. | SHS CLASS A | N97284108 |  | 12195951 | 117540 | SH |  | SOLE |  | 114640 | 0 | 2900 |
| NEOGENOMICS INC | COM NEW | 64049M209 |  | 260598 | 35121 | SH |  | SOLE |  | 21000 | 0 | 14121 |
| NETFLIX INC. | COM | 64110L106 |  | 2276159 | 23673 | SH |  | SOLE |  | 13253 | 0 | 10420 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 954816 | 10280 | SH |  | SOLE |  | 766 | 0 | 9514 |
| NIKE INC | CL B | 654106103 |  | 438785 | 8250 | SH |  | SOLE |  | 3470 | 0 | 4780 |
| NORFOLK SOUTHN CORP | COM | 655844108 |  | 653499 | 2277 | SH |  | SOLE |  | 150 | 0 | 2127 |
| NUCOR CORP | COM | 670346105 |  | 3366734 | 19844 | SH |  | SOLE |  | 200 | 0 | 19644 |
| NUTRIEN LTD | COM | 67077M108 |  | 434778 | 5720 | SH |  | SOLE |  | 5720 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 95022206 | 544821 | SH |  | SOLE |  | 434858 | 0 | 109963 |
| ORACLE CORP | COM | 68389X105 |  | 830014 | 5642 | SH |  | SOLE |  | 5274 | 0 | 368 |
| OREILLY AUTOMOTIVE INC | COM | 67103H107 |  | 46539472 | 504165 | SH |  | SOLE |  | 394457 | 0 | 109708 |
| OTIS WORLDWIDE CORP | COM | 68902V107 |  | 256191 | 3324 | SH |  | SOLE |  | 2715 | 0 | 609 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 416898 | 2850 | SH |  | SOLE |  | 2050 | 0 | 800 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 554547 | 3459 | SH |  | SOLE |  | 2752 | 0 | 707 |
| PAYCHEX INC | COM | 704326107 |  | 1627761 | 17670 | SH |  | SOLE |  | 14945 | 0 | 2725 |
| PEPSICO INC | COM | 713448108 |  | 5474040 | 35250 | SH |  | SOLE |  | 20618 | 0 | 14632 |
| PERSONALIS INC | COM | 71535D106 |  | 3485123 | 547115 | SH |  | SOLE |  | 83200 | 0 | 463915 |
| PFIZER INC | COM | 717081103 |  | 1717106 | 61150 | SH |  | SOLE |  | 35963 | 0 | 25187 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 564152 | 3382 | SH |  | SOLE |  | 1450 | 0 | 1932 |
| PHILLIPS 66 | COM | 718546104 |  | 887988 | 4874 | SH |  | SOLE |  | 1069 | 0 | 3805 |
| PIMCO ETF TR | ENHAN SHRT MA AC | 72201R833 |  | 8818079 | 87681 | SH |  | SOLE |  | 75191 | 0 | 12490 |
| PIMCO ETF TR | ENHNCD LW DUR AC | 72201R718 |  | 6750136 | 70446 | SH |  | SOLE |  | 60254 | 0 | 10192 |
| PROCTER  GAMBLE CO | COM | 742718109 |  | 19381217 | 134182 | SH |  | SOLE |  | 85699 | 0 | 48483 |
| PROSHARES TR | S 500 DV ARIST | 74348A467 |  | 361283 | 3408 | SH |  | SOLE |  | 3400 | 0 | 8 |
| PROSHARES TR | ULTRPRO S | 74347X864 |  | 210835 | 2174 | SH |  | SOLE |  | 2174 | 0 | 0 |
| QNITY ELECTRONICS INC | COMMON STOCK | 74743L100 |  | 415830 | 3604 | SH |  | SOLE |  | 1068 | 0 | 2536 |
| QUALCOMM INC | COM | 747525103 |  | 238243 | 1850 | SH |  | SOLE |  | 1095 | 0 | 755 |
| RANGE RES CORP | COM | 75281A109 |  | 257526 | 5700 | SH |  | SOLE |  | 5700 | 0 | 0 |
| REGENERON PHARMACEUTICALS | COM | 75886F107 |  | 30399521 | 39345 | SH |  | SOLE |  | 28702 | 0 | 10643 |
| ROSS STORES INC | COM | 778296103 |  | 410731 | 1896 | SH |  | SOLE |  | 96 | 0 | 1800 |
| RTX CORPORATION | COM | 75513E101 |  | 4328600 | 22440 | SH |  | SOLE |  | 6878 | 0 | 15562 |
| S GLOBAL INC | COM | 78409V104 |  | 44082663 | 103641 | SH |  | SOLE |  | 83946 | 0 | 19695 |
| SALESFORCE INC | COM | 79466L302 |  | 693666 | 3716 | SH |  | SOLE |  | 64 | 0 | 3652 |
| SCHWAB STRATEGIC TR | US DIVIDEND EQ | 808524797 |  | 470202 | 15326 | SH |  | SOLE |  | 10191 | 0 | 5135 |
| SELECT SECTOR SPDR TR | STATE STREET ENE | 81369Y506 |  | 17570532 | 286819 | SH |  | SOLE |  | 223352 | 0 | 63467 |
| SELECT SECTOR SPDR TR | STATE STREET HEA | 81369Y209 |  | 287796 | 1963 | SH |  | SOLE |  | 1550 | 0 | 413 |
| SELECT SECTOR SPDR TR | STATE STREET TEC | 81369Y803 |  | 1284745 | 9667 | SH |  | SOLE |  | 8591 | 0 | 1076 |
| SEMPRA | COM | 816851109 |  | 278320 | 2845 | SH |  | SOLE |  | 2722 | 0 | 123 |
| SERVICE CORP INTL | COM | 817565104 |  | 1469834 | 17814 | SH |  | SOLE |  | 266 | 0 | 17548 |
| SERVICENOW INC | COM | 81762P102 |  | 20187874 | 193093 | SH |  | SOLE |  | 154916 | 0 | 38177 |
| SHELL PLC | SPON ADS | 780259305 |  | 1222857 | 13149 | SH |  | SOLE |  | 400 | 0 | 12749 |
| SHERWIN WILLIAMS CO | COM | 824348106 |  | 287534 | 897 | SH |  | SOLE |  | 352 | 0 | 545 |
| SHOPIFY INC | CL A SUB VTG SHS | 82509L107 |  | 644937 | 5437 | SH |  | SOLE |  | 818 | 0 | 4619 |
| SIMON PPTY GROUP INC NEW | COM | 828806109 |  | 1977592 | 10602 | SH |  | SOLE |  | 136 | 0 | 10466 |
| SKEENA RES LTD NEW | COM | 83056P715 |  | 594400 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| SLB LIMITED | COM STK | 806857108 |  | 437032 | 8450 | SH |  | SOLE |  | 8000 | 0 | 450 |
| SOFI TECHNOLOGIES INC | COM | 83406F102 |  | 847151 | 53347 | SH |  | SOLE |  | 53347 | 0 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 9037381 | 21003 | SH |  | SOLE |  | 20575 | 0 | 428 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A763 |  | 355641 | 2437 | SH |  | SOLE |  | 1361 | 0 | 1076 |
| STARBUCKS CORP | COM | 855244109 |  | 757932 | 8460 | SH |  | SOLE |  | 6020 | 0 | 2440 |
| STATE STR CORP | COM | 857477103 |  | 317666 | 2510 | SH |  | SOLE |  | 910 | 0 | 1600 |
| STATE STR SPDR S 500 ETF T | TR UNIT | 78462F103 |  | 17513702 | 26856 | SH |  | SOLE |  | 16793 | 0 | 10063 |
| STATE STR SPDR S MIDCAP 40 | UTSER1 S | 78467Y107 |  | 665884 | 1077 | SH |  | SOLE |  | 1077 | 0 | 0 |
| STRYKER CORPORATION | COM | 863667101 |  | 40193034 | 121993 | SH |  | SOLE |  | 79403 | 0 | 42590 |
| SYNOPSYS INC | COM | 871607107 |  | 8683309 | 21901 | SH |  | SOLE |  | 18696 | 0 | 3205 |
| SYSCO CORP | COM | 871829107 |  | 1479385 | 20740 | SH |  | SOLE |  | 3570 | 0 | 17170 |
| TAIWAN SEMICONDUCTOR MANUFAC | SPONSORED ADS | 874039100 |  | 376525 | 1111 | SH |  | SOLE |  | 496 | 0 | 615 |
| TE CONNECTIVITY PLC | ORD SHS | G87052109 |  | 37815063 | 180916 | SH |  | SOLE |  | 145469 | 0 | 35447 |
| TERRENO RLTY CORP | COM | 88146M101 |  | 10380588 | 167592 | SH |  | SOLE |  | 141909 | 0 | 25683 |
| TESLA INC | COM | 88160R101 |  | 800006 | 2152 | SH |  | SOLE |  | 1000 | 0 | 1152 |
| TEXAS INSTRS INC | COM | 882508104 |  | 519131 | 2674 | SH |  | SOLE |  | 1871 | 0 | 803 |
| TEXAS PACIFIC LAND CORPORATI | COM | 88262P102 |  | 23590378 | 49710 | SH |  | SOLE |  | 49710 | 0 | 0 |
| THE CIGNA GROUP | COM | 125523100 |  | 1223316 | 4586 | SH |  | SOLE |  | 1150 | 0 | 3436 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 35764092 | 72691 | SH |  | SOLE |  | 59878 | 0 | 12813 |
| TJX COS INC NEW | COM | 872540109 |  | 68007287 | 425844 | SH |  | SOLE |  | 355490 | 0 | 70354 |
| TRANSDIGM GROUP INC | COM | 893641100 |  | 24056533 | 20757 | SH |  | SOLE |  | 16007 | 0 | 4750 |
| TRAVELERS COMPANIES INC | COM | 89417E109 |  | 440146 | 1509 | SH |  | SOLE |  | 544 | 0 | 965 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 18614549 | 258787 | SH |  | SOLE |  | 207271 | 0 | 51516 |
| UGI CORP NEW | COM | 902681105 |  | 367950 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| UNION PAC CORP | COM | 907818108 |  | 1862352 | 7676 | SH |  | SOLE |  | 4381 | 0 | 3295 |
| UNITED PARCEL SVCS INC | CL B | 911312106 |  | 428839 | 4359 | SH |  | SOLE |  | 3460 | 0 | 899 |
| UNIVERSAL CORP VA MTNS BK EN | COM | 913456109 |  | 336385 | 6383 | SH |  | SOLE |  | 6383 | 0 | 0 |
| VALHI INC NEW | COM | 918905209 |  | 143000 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| VANECK ETF TRUST | GOLD MINERS ETF | 92189F106 |  | 501778 | 5468 | SH |  | SOLE |  | 5400 | 0 | 68 |
| VANGUARD INDEX FDS | EXTEND MKT ETF | 922908652 |  | 409748 | 1991 | SH |  | SOLE |  | 1991 | 0 | 0 |
| VANGUARD INDEX FDS | MCAP GR IDXVIP | 922908538 |  | 302387 | 1175 | SH |  | SOLE |  | 1152 | 0 | 23 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 2198938 | 7657 | SH |  | SOLE |  | 485 | 0 | 7172 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 43980876 | 73602 | SH |  | SOLE |  | 19989 | 0 | 53613 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 |  | 1952876 | 7456 | SH |  | SOLE |  | 649 | 0 | 6807 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 5661335 | 17647 | SH |  | SOLE |  | 15779 | 0 | 1868 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 |  | 920571 | 4692 | SH |  | SOLE |  | 3284 | 0 | 1408 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 |  | 161442846 | 2149705 | SH |  | SOLE |  | 1672110 | 0 | 477595 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 3563409 | 65928 | SH |  | SOLE |  | 37533 | 0 | 28395 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 690773 | 3212 | SH |  | SOLE |  | 3140 | 0 | 72 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 1666080 | 26000 | SH |  | SOLE |  | 5103 | 0 | 20897 |
| VANGUARD WHITEHALL FDS | HIGH DIV YLD | 921946406 |  | 2471493 | 16688 | SH |  | SOLE |  | 788 | 0 | 15900 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 624119 | 12433 | SH |  | SOLE |  | 900 | 0 | 11533 |
| VERTEX PHARMACEUTICALS INC | COM | 92532F100 |  | 881917 | 1975 | SH |  | SOLE |  | 1186 | 0 | 789 |
| VISA INC | COM CL A | 92826C839 |  | 54538906 | 180449 | SH |  | SOLE |  | 137078 | 0 | 43371 |
| VISTANCE NETWORKS INC | COM | 20337X109 |  | 1505140 | 82700 | SH |  | SOLE |  | 82700 | 0 | 0 |
| VIZSLA SILVER CORP | COM NEW | 92859G608 |  | 66000 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 43448174 | 348912 | SH |  | SOLE |  | 276026 | 0 | 72886 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 943502 | 4106 | SH |  | SOLE |  | 270 | 0 | 3836 |
| WATSCO INC | COM | 942622200 |  | 30254105 | 83164 | SH |  | SOLE |  | 69468 | 0 | 13696 |
| WEYERHAEUSER CO | COM NEW | 962166104 |  | 719659 | 29458 | SH |  | SOLE |  | 6960 | 0 | 22498 |
| WHEATON PRECIOUS METALS CORP | COM | 962879102 |  | 2099280 | 16000 | SH |  | SOLE |  | 16000 | 0 | 0 |
| YUM BRANDS INC | COM | 988498101 |  | 657214 | 4227 | SH |  | SOLE |  | 3976 | 0 | 251 |
| ZOETIS INC | CL A | 98978V103 |  | 260062 | 2200 | SH |  | SOLE |  | 2000 | 0 | 200 |

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