# EDGAR Filing Document

**Accession Number:** 0002131483
**File Stem:** 0002131483-26-000014
**Filing Date:** 2026-5
**Character Count:** 30100
**Document Hash:** 40e46529eb93e01f7183206441d4e85c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002131483-26-000014.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0002131483-26-000014

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20161231

**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:** 261035871

**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:** 12-31-2016

**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:** 276

**Form 13F Information Table Value Total:** $846562784

      (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 |  | 283569 | 1588 | SH |  | SOLE |  | 0 | 0 | 1588 |
| ACUITY BRANDS INC | COM | 00508Y102 |  | 1278041 | 5536 | SH |  | SOLE |  | 0 | 0 | 5536 |
| ADECOAGRO S A | COM | L00849106 |  | 129023 | 12430 | SH |  | SOLE |  | 0 | 0 | 12430 |
| ADVANCED SEMICONDUCTOR ENGR | SPONSORED ADR | 00756M404 |  | 109156 | 21658 | SH |  | SOLE |  | 0 | 0 | 21658 |
| AEGON N V | NY REGISTRY SH | 007924103 |  | 437019 | 79027 | SH |  | SOLE |  | 0 | 0 | 79027 |
| AERCAP HOLDINGS NV | SHS | N00985106 |  | 322145 | 7742 | SH |  | SOLE |  | 0 | 0 | 7742 |
| AERIE PHARMACEUTICALS INC | COM | 00771V108 |  | 289363 | 7645 | SH |  | SOLE |  | 0 | 0 | 7645 |
| AFFILIATED MANAGERS GROUP | COM | 008252108 |  | 1284597 | 8841 | SH |  | SOLE |  | 0 | 0 | 8841 |
| AFLAC INC | COM | 001055102 |  | 11031600 | 158500 | SH |  | SOLE |  | 0 | 0 | 158500 |
| AIR METHODS CORP | COM PAR $.06 | 009128307 |  | 275694 | 8656 | SH |  | SOLE |  | 0 | 0 | 8656 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 15186512 | 19164 | SH |  | SOLE |  | 0 | 0 | 19164 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 15262741 | 19775 | SH |  | SOLE |  | 0 | 0 | 19775 |
| AMAZON COM INC | COM | 023135106 |  | 8462283 | 11285 | SH |  | SOLE |  | 0 | 0 | 11285 |
| AMBEV SA | SPONSORED ADR | 02319V103 |  | 411571 | 83823 | SH |  | SOLE |  | 0 | 0 | 83823 |
| AMGEN INC | COM | 031162100 |  | 261716 | 1790 | SH |  | SOLE |  | 0 | 0 | 1790 |
| ANHEUSER BUSCH INBEV SA/NV | SPONSORED ADR | 03524A108 |  | 554404 | 5258 | SH |  | SOLE |  | 0 | 0 | 5258 |
| ANIXTER INTL INC | COM | 035290105 |  | 337411 | 4163 | SH |  | SOLE |  | 0 | 0 | 4163 |
| ANSYS INC | COM | 03662Q105 |  | 1814469 | 19618 | SH |  | SOLE |  | 0 | 0 | 19618 |
| AON PLC | SHS CL A | G0408V102 |  | 365149 | 3274 | SH |  | SOLE |  | 0 | 0 | 3274 |
| APPLE INC | COM | 037833100 |  | 29291689 | 252907 | SH |  | SOLE |  | 0 | 0 | 252907 |
| APTARGROUP INC | COM | 038336103 |  | 955070 | 13003 | SH |  | SOLE |  | 0 | 0 | 13003 |
| ARAMARK | COM | 03852U106 |  | 1067671 | 29890 | SH |  | SOLE |  | 0 | 0 | 29890 |
| ARTISAN PARTNERS ASSET MGMT | CL A | 04316A108 |  | 400614 | 13466 | SH |  | SOLE |  | 0 | 0 | 13466 |
| AT INC | COM | 00206R102 |  | 552890 | 13000 | SH |  | SOLE |  | 0 | 0 | 13000 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 28768122 | 279900 | SH |  | SOLE |  | 0 | 0 | 279900 |
| BAIDU INC | SPON ADR REP A | 056752108 |  | 491914 | 2992 | SH |  | SOLE |  | 0 | 0 | 2992 |
| BAKER HUGHES INC | COM | 057224107 |  | 263518 | 4056 | SH |  | SOLE |  | 0 | 0 | 4056 |
| BANCO BILBAO VIZCAYA ARGENTA | SPONSORED ADR | 05946K101 |  | 339786 | 50190 | SH |  | SOLE |  | 0 | 0 | 50190 |
| BANK OF THE OZARKS INC | COM | 063904106 |  | 537680 | 10224 | SH |  | SOLE |  | 0 | 0 | 10224 |
| BAXTER INTL INC | COM | 071813109 |  | 2660400 | 60000 | SH |  | SOLE |  | 0 | 0 | 60000 |
| BECTON DICKINSON  CO | COM | 075887109 |  | 318353 | 1923 | SH |  | SOLE |  | 0 | 0 | 1923 |
| BEMIS INC | COM | 081437105 |  | 265210 | 5546 | SH |  | SOLE |  | 0 | 0 | 5546 |
| BERKLEY W R CORP | COM | 084423102 |  | 1348157 | 20270 | SH |  | SOLE |  | 0 | 0 | 20270 |
| BHP BILLITON LTD | SPONSORED ADR | 088606108 |  | 412651 | 11533 | SH |  | SOLE |  | 0 | 0 | 11533 |
| BIO RAD LABS INC | CL A | 090572207 |  | 1434544 | 7870 | SH |  | SOLE |  | 0 | 0 | 7870 |
| BIO TECHNE CORP | COM | 09073M104 |  | 453275 | 4408 | SH |  | SOLE |  | 0 | 0 | 4408 |
| BLACKBAUD INC | COM | 09227Q100 |  | 1217536 | 19024 | SH |  | SOLE |  | 0 | 0 | 19024 |
| BLACKROCK INC | COM | 09247X101 |  | 26514125 | 69675 | SH |  | SOLE |  | 0 | 0 | 69675 |
| BOEING CO | COM | 097023105 |  | 23091236 | 148325 | SH |  | SOLE |  | 0 | 0 | 148325 |
| BRITISH AMERN TOB PLC | SPONSORED ADR | 110448107 |  | 993186 | 8815 | SH |  | SOLE |  | 0 | 0 | 8815 |
| BROADCOM LTD | SHS | Y09827109 |  | 415763 | 2352 | SH |  | SOLE |  | 0 | 0 | 2352 |
| BROADRIDGE FINL SOLUTIONS IN | COM | 11133T103 |  | 919714 | 13872 | SH |  | SOLE |  | 0 | 0 | 13872 |
| BUFFALO WILD WINGS INC | COM | 119848109 |  | 327174 | 2119 | SH |  | SOLE |  | 0 | 0 | 2119 |
| BURLINGTON STORES INC | COM | 122017106 |  | 416801 | 4918 | SH |  | SOLE |  | 0 | 0 | 4918 |
| CANADIAN NATL RY CO | COM | 136375102 |  | 532931 | 7907 | SH |  | SOLE |  | 0 | 0 | 7907 |
| CARLISLE COS INC | COM | 142339100 |  | 1337377 | 12126 | SH |  | SOLE |  | 0 | 0 | 12126 |
| CAVIUM INC | COM | 14964U108 |  | 386067 | 6183 | SH |  | SOLE |  | 0 | 0 | 6183 |
| CDW CORP | COM | 12514G108 |  | 1740066 | 33405 | SH |  | SOLE |  | 0 | 0 | 33405 |
| CELGENE CORP | COM | 151020104 |  | 351070 | 3033 | SH |  | SOLE |  | 0 | 0 | 3033 |
| CENOVUS ENERGY INC | COM | 15135U109 |  | 190517 | 12592 | SH |  | SOLE |  | 0 | 0 | 12592 |
| CHATHAM LODGING TR | COM | 16208T102 |  | 221611 | 10784 | SH |  | SOLE |  | 0 | 0 | 10784 |
| CHEVRON CORP NEW | COM | 166764100 |  | 11463627 | 97397 | SH |  | SOLE |  | 0 | 0 | 97397 |
| CHIMERA INVT CORP | COM NEW | 16934Q208 |  | 215950 | 12688 | SH |  | SOLE |  | 0 | 0 | 12688 |
| CHINA MOBILE LIMITED | SPONSORED ADR | 16941M109 |  | 683530 | 13037 | SH |  | SOLE |  | 0 | 0 | 13037 |
| CHIPOTLE MEXICAN GRILL INC | COM | 169656105 |  | 219978 | 583 | SH |  | SOLE |  | 0 | 0 | 583 |
| CHURCH  DWIGHT INC | COM | 171340102 |  | 981194 | 22204 | SH |  | SOLE |  | 0 | 0 | 22204 |
| CINEMARK HOLDINGS INC | COM | 17243V102 |  | 476623 | 12425 | SH |  | SOLE |  | 0 | 0 | 12425 |
| CISCO SYS INC | COM | 17275R102 |  | 11426091 | 378097 | SH |  | SOLE |  | 0 | 0 | 378097 |
| CLARCOR INC | COM | 179895107 |  | 1386156 | 16808 | SH |  | SOLE |  | 0 | 0 | 16808 |
| COCA COLA CO | COM | 191216100 |  | 12661884 | 305400 | SH |  | SOLE |  | 0 | 0 | 305400 |
| COGENT COMMUNICATIONS HLDGS | COM NEW | 19239V302 |  | 342998 | 8295 | SH |  | SOLE |  | 0 | 0 | 8295 |
| COLONY CAP INC | CL A | 19624R106 |  | 454086 | 22424 | SH |  | SOLE |  | 0 | 0 | 22424 |
| COLUMBIA BKG SYS INC | COM | 197236102 |  | 464449 | 10395 | SH |  | SOLE |  | 0 | 0 | 10395 |
| COLUMBIA SPORTSWEAR CO | COM | 198516106 |  | 948308 | 16266 | SH |  | SOLE |  | 0 | 0 | 16266 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 17262500 | 250000 | SH |  | SOLE |  | 0 | 0 | 250000 |
| COMMSCOPE HLDG CO INC | COM | 20337X109 |  | 255304 | 6863 | SH |  | SOLE |  | 0 | 0 | 6863 |
| COPART INC | COM | 217204106 |  | 851430 | 15366 | SH |  | SOLE |  | 0 | 0 | 15366 |
| CREDICORP LTD | COM | G2519Y108 |  | 261258 | 1655 | SH |  | SOLE |  | 0 | 0 | 1655 |
| CURTISS WRIGHT CORP | COM | 231561101 |  | 366096 | 3722 | SH |  | SOLE |  | 0 | 0 | 3722 |
| CVS HEALTH CORP | COM | 126650100 |  | 16807830 | 213000 | SH |  | SOLE |  | 0 | 0 | 213000 |
| CYBERARK SOFTWARE LTD | SHS | M2682V108 |  | 229548 | 5045 | SH |  | SOLE |  | 0 | 0 | 5045 |
| DARLING INGREDIENTS INC | COM | 237266101 |  | 208058 | 16116 | SH |  | SOLE |  | 0 | 0 | 16116 |
| DENTSPLY SIRONA INC | COM | 24906P109 |  | 1480024 | 25637 | SH |  | SOLE |  | 0 | 0 | 25637 |
| DERMIRA INC | COM | 24983L104 |  | 209702 | 6914 | SH |  | SOLE |  | 0 | 0 | 6914 |
| DEVON ENERGY CORP NEW | COM | 25179M103 |  | 275710 | 6037 | SH |  | SOLE |  | 0 | 0 | 6037 |
| DICKS SPORTING GOODS INC | COM | 253393102 |  | 323645 | 6095 | SH |  | SOLE |  | 0 | 0 | 6095 |
| DONALDSON INC | COM | 257651109 |  | 833310 | 19803 | SH |  | SOLE |  | 0 | 0 | 19803 |
| DR REDDYS LABS LTD | ADR | 256135203 |  | 227849 | 5032 | SH |  | SOLE |  | 0 | 0 | 5032 |
| DRIL-QUIP INC | COM | 262037104 |  | 214318 | 3569 | SH |  | SOLE |  | 0 | 0 | 3569 |
| DU PONT E I DE NEMOURS  CO | COM | 263534109 |  | 371404 | 5060 | SH |  | SOLE |  | 0 | 0 | 5060 |
| EAST WEST BANCORP INC | COM | 27579R104 |  | 638069 | 12553 | SH |  | SOLE |  | 0 | 0 | 12553 |
| EATON CORP PLC | SHS | G29183103 |  | 341220 | 5086 | SH |  | SOLE |  | 0 | 0 | 5086 |
| EL PASO ELEC CO | COM NEW | 283677854 |  | 261237 | 5618 | SH |  | SOLE |  | 0 | 0 | 5618 |
| ENVISION HEALTHCARE CORP | COM | 29414D100 |  | 248920 | 3933 | SH |  | SOLE |  | 0 | 0 | 3933 |
| ERICSSON | ADR B SEK 10 | 294821608 |  | 95729 | 16420 | SH |  | SOLE |  | 0 | 0 | 16420 |
| EXPRESS SCRIPTS HLDG CO | COM | 30219G108 |  | 12716726 | 184863 | SH |  | SOLE |  | 0 | 0 | 184863 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 17610268 | 195106 | SH |  | SOLE |  | 0 | 0 | 195106 |
| FACEBOOK INC | CL A | 30303M102 |  | 35464278 | 308251 | SH |  | SOLE |  | 0 | 0 | 308251 |
| FACTSET RESH SYS INC | COM | 303075105 |  | 920601 | 5633 | SH |  | SOLE |  | 0 | 0 | 5633 |
| FAIR ISAAC CORP | COM | 303250104 |  | 1327992 | 11139 | SH |  | SOLE |  | 0 | 0 | 11139 |
| FEDEX CORP | COM | 31428X106 |  | 12873309 | 69137 | SH |  | SOLE |  | 0 | 0 | 69137 |
| FERRO CORP | COM | 315405100 |  | 204346 | 14260 | SH |  | SOLE |  | 0 | 0 | 14260 |
| FIRST REP BK SAN FRANCISCO C | COM | 33616C100 |  | 849439 | 9219 | SH |  | SOLE |  | 0 | 0 | 9219 |
| FIVE BELOW INC | COM | 33829M101 |  | 296863 | 7429 | SH |  | SOLE |  | 0 | 0 | 7429 |
| FLIR SYS INC | COM | 302445101 |  | 811669 | 22428 | SH |  | SOLE |  | 0 | 0 | 22428 |
| FLOWSERVE CORP | COM | 34354P105 |  | 319725 | 6654 | SH |  | SOLE |  | 0 | 0 | 6654 |
| FOMENTO ECONOMICO MEXICANO S | SPON ADR UNITS | 344419106 |  | 460765 | 6046 | SH |  | SOLE |  | 0 | 0 | 6046 |
| FOOT LOCKER INC | COM | 344849104 |  | 266476 | 3759 | SH |  | SOLE |  | 0 | 0 | 3759 |
| FORD MTR CO DEL | COM PAR $0.01 | 345370860 |  | 3396400 | 280000 | SH |  | SOLE |  | 0 | 0 | 280000 |
| FOREST CITY RLTY TR INC | COM CL A | 345605109 |  | 461022 | 22122 | SH |  | SOLE |  | 0 | 0 | 22122 |
| FORTINET INC | COM | 34959E109 |  | 326922 | 10854 | SH |  | SOLE |  | 0 | 0 | 10854 |
| FRESENIUS MED CARE AG KGA | SPONSORED ADR | 358029106 |  | 289265 | 6853 | SH |  | SOLE |  | 0 | 0 | 6853 |
| FRONTIER COMMUNICATIONS CORP | COM | 35906A108 |  | 219558 | 64958 | SH |  | SOLE |  | 0 | 0 | 64958 |
| GAMING  LEISURE PPTYS INC | COM | 36467J108 |  | 248481 | 8115 | SH |  | SOLE |  | 0 | 0 | 8115 |
| GARTNER INC | COM | 366651107 |  | 881533 | 8722 | SH |  | SOLE |  | 0 | 0 | 8722 |
| GENERAL DYNAMICS CORP | COM | 369550108 |  | 24517720 | 142000 | SH |  | SOLE |  | 0 | 0 | 142000 |
| GENERAL ELECTRIC CO | COM | 369604103 |  | 1052722 | 33314 | SH |  | SOLE |  | 0 | 0 | 33314 |
| GENERAL MTRS CO | COM | 37045V100 |  | 5052636 | 145024 | SH |  | SOLE |  | 0 | 0 | 145024 |
| GILDAN ACTIVEWEAR INC | COM | 375916103 |  | 375019 | 14782 | SH |  | SOLE |  | 0 | 0 | 14782 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 383400 | 5354 | SH |  | SOLE |  | 0 | 0 | 5354 |
| GLAXOSMITHKLINE PLC | SPONSORED ADR | 37733W105 |  | 3658450 | 95000 | SH |  | SOLE |  | 0 | 0 | 95000 |
| GLOBAL PMTS INC | COM | 37940X102 |  | 599980 | 8644 | SH |  | SOLE |  | 0 | 0 | 8644 |
| GRACO INC | COM | 384109104 |  | 769912 | 9266 | SH |  | SOLE |  | 0 | 0 | 9266 |
| GREAT LAKES DREDGE  DOCK CO | COM | 390607109 |  | 108717 | 25885 | SH |  | SOLE |  | 0 | 0 | 25885 |
| GROUPE CGI INC | CL A SUB VTG | 39945C109 |  | 439378 | 9148 | SH |  | SOLE |  | 0 | 0 | 9148 |
| GRUPO TELEVISA SA | SPON ADR REP ORD | 40049J206 |  | 314207 | 15041 | SH |  | SOLE |  | 0 | 0 | 15041 |
| HAIN CELESTIAL GROUP INC | COM | 405217100 |  | 242337 | 6209 | SH |  | SOLE |  | 0 | 0 | 6209 |
| HCA HOLDINGS INC | COM | 40412C101 |  | 16536068 | 223400 | SH |  | SOLE |  | 0 | 0 | 223400 |
| HDFC BANK LTD | ADR REPS 3 SHS | 40415F101 |  | 316811 | 5221 | SH |  | SOLE |  | 0 | 0 | 5221 |
| HENRY JACK  ASSOC INC | COM | 426281101 |  | 1239280 | 13959 | SH |  | SOLE |  | 0 | 0 | 13959 |
| HERSHA HOSPITALITY TR | PR SHS BEN INT | 427825500 |  | 340195 | 15823 | SH |  | SOLE |  | 0 | 0 | 15823 |
| HESS CORP | COM | 42809H107 |  | 6166710 | 99000 | SH |  | SOLE |  | 0 | 0 | 99000 |
| HOME DEPOT INC | COM | 437076102 |  | 16089600 | 120000 | SH |  | SOLE |  | 0 | 0 | 120000 |
| HONEYWELL INTL INC | COM | 438516106 |  | 15549966 | 134225 | SH |  | SOLE |  | 0 | 0 | 134225 |
| HSBC HLDGS PLC | ADR A 1/40PF A | 404280604 |  | 1008000 | 40000 | SH |  | SOLE |  | 0 | 0 | 40000 |
| HSBC HLDGS PLC | SPON ADR NEW | 404280406 |  | 461990 | 11498 | SH |  | SOLE |  | 0 | 0 | 11498 |
| HUNT J B TRANS SVCS INC | COM | 445658107 |  | 1365192 | 14064 | SH |  | SOLE |  | 0 | 0 | 14064 |
| ICICI BK LTD | ADR | 45104G104 |  | 131831 | 17601 | SH |  | SOLE |  | 0 | 0 | 17601 |
| IDEX CORP | COM | 45167R104 |  | 1340093 | 14880 | SH |  | SOLE |  | 0 | 0 | 14880 |
| IDEXX LABS INC | COM | 45168D104 |  | 1237550 | 10553 | SH |  | SOLE |  | 0 | 0 | 10553 |
| INC RESH HLDGS INC | CL A | 45329R109 |  | 308026 | 5856 | SH |  | SOLE |  | 0 | 0 | 5856 |
| INTEL CORP | COM | 458140100 |  | 6256575 | 172500 | SH |  | SOLE |  | 0 | 0 | 172500 |
| INTERPUBLIC GROUP COS INC | COM | 460690100 |  | 368942 | 15760 | SH |  | SOLE |  | 0 | 0 | 15760 |
| INTERSECT ENT INC | COM | 46071F103 |  | 161099 | 13314 | SH |  | SOLE |  | 0 | 0 | 13314 |
| INTUIT | COM | 461202103 |  | 396551 | 3460 | SH |  | SOLE |  | 0 | 0 | 3460 |
| INVESTORS BANCORP INC NEW | COM | 46146L101 |  | 255480 | 18314 | SH |  | SOLE |  | 0 | 0 | 18314 |
| ISHARES INC | MSCI JPN ETF NEW | 46434G822 |  | 268730 | 5500 | SH |  | SOLE |  | 0 | 0 | 5500 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 5137970 | 89000 | SH |  | SOLE |  | 0 | 0 | 89000 |
| ISHARES TR | SELECT DIVID ETF | 464287168 |  | 885700 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| ISHARES TR | USA QUALITY FCTR | 46432F339 |  | 760100 | 11000 | SH |  | SOLE |  | 0 | 0 | 11000 |
| ITAU UNIBANCO HLDG SA | SPON ADR REP PFD | 465562106 |  | 173917 | 16918 | SH |  | SOLE |  | 0 | 0 | 16918 |
| JONES LANG LASALLE INC | COM | 48020Q107 |  | 550264 | 5446 | SH |  | SOLE |  | 0 | 0 | 5446 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 23286392 | 269862 | SH |  | SOLE |  | 0 | 0 | 269862 |
| KIRBY CORP | COM | 497266106 |  | 1075638 | 16175 | SH |  | SOLE |  | 0 | 0 | 16175 |
| KONINKLIJKE PHILIPS N V | NY REG SH NEW | 500472303 |  | 321077 | 10503 | SH |  | SOLE |  | 0 | 0 | 10503 |
| KORN FERRY INTL | COM NEW | 500643200 |  | 228436 | 7762 | SH |  | SOLE |  | 0 | 0 | 7762 |
| KRAFT HEINZ CO | COM | 500754106 |  | 9087043 | 104066 | SH |  | SOLE |  | 0 | 0 | 104066 |
| LABORATORY CORP AMER HLDGS | COM NEW | 50540R409 |  | 381545 | 2972 | SH |  | SOLE |  | 0 | 0 | 2972 |
| LANDSTAR SYS INC | COM | 515098101 |  | 968752 | 11357 | SH |  | SOLE |  | 0 | 0 | 11357 |
| LENNOX INTL INC | COM | 526107107 |  | 494892 | 3231 | SH |  | SOLE |  | 0 | 0 | 3231 |
| LEVEL 3 COMMUNICATIONS INC | COM NEW | 52729N308 |  | 442877 | 7858 | SH |  | SOLE |  | 0 | 0 | 7858 |
| LILLY ELI  CO | COM | 532457108 |  | 9587243 | 130350 | SH |  | SOLE |  | 0 | 0 | 130350 |
| LLOYDS BANKING GROUP PLC | SPONSORED ADR | 539439109 |  | 158091 | 50997 | SH |  | SOLE |  | 0 | 0 | 50997 |
| MACOM TECH SOLUTIONS HLDGS I | COM | 55405Y100 |  | 437161 | 9446 | SH |  | SOLE |  | 0 | 0 | 9446 |
| MANHATTAN ASSOCS INC | COM | 562750109 |  | 1282424 | 24183 | SH |  | SOLE |  | 0 | 0 | 24183 |
| MARATHON OIL CORP | COM | 565849106 |  | 301021 | 17390 | SH |  | SOLE |  | 0 | 0 | 17390 |
| MARATHON PETE CORP | COM | 56585A102 |  | 3577972 | 71062 | SH |  | SOLE |  | 0 | 0 | 71062 |
| MARKEL CORP | COM | 570535104 |  | 2208789 | 2442 | SH |  | SOLE |  | 0 | 0 | 2442 |
| MCDONALDS CORP | COM | 580135101 |  | 15637977 | 128475 | SH |  | SOLE |  | 0 | 0 | 128475 |
| MERCK  CO INC | COM | 58933Y105 |  | 388542 | 6600 | SH |  | SOLE |  | 0 | 0 | 6600 |
| METTLER TOLEDO INTERNATIONAL | COM | 592688105 |  | 635793 | 1519 | SH |  | SOLE |  | 0 | 0 | 1519 |
| MFA FINL INC | COM | 55272X102 |  | 444661 | 58278 | SH |  | SOLE |  | 0 | 0 | 58278 |
| MICROSOFT CORP | COM | 594918104 |  | 11934546 | 192059 | SH |  | SOLE |  | 0 | 0 | 192059 |
| MOBILE MINI INC | COM | 60740F105 |  | 366207 | 12106 | SH |  | SOLE |  | 0 | 0 | 12106 |
| MOLINA HEALTHCARE INC | COM | 60855R100 |  | 297399 | 5481 | SH |  | SOLE |  | 0 | 0 | 5481 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 11069201 | 249700 | SH |  | SOLE |  | 0 | 0 | 249700 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 283202 | 6703 | SH |  | SOLE |  | 0 | 0 | 6703 |
| MORNINGSTAR INC | COM | 617700109 |  | 1117303 | 15189 | SH |  | SOLE |  | 0 | 0 | 15189 |
| NETEASE INC | SPONSORED ADR | 64110W102 |  | 300399 | 1395 | SH |  | SOLE |  | 0 | 0 | 1395 |
| NEVRO CORP | COM | 64157F103 |  | 301176 | 4145 | SH |  | SOLE |  | 0 | 0 | 4145 |
| NIELSEN HLDGS PLC | SHS EUR | G6518L108 |  | 280016 | 6675 | SH |  | SOLE |  | 0 | 0 | 6675 |
| NN INC | COM | 629337106 |  | 237020 | 12442 | SH |  | SOLE |  | 0 | 0 | 12442 |
| NORDSTROM INC | COM | 655664100 |  | 235049 | 4904 | SH |  | SOLE |  | 0 | 0 | 4904 |
| NOVARTIS A G | SPONSORED ADR | 66987V109 |  | 781355 | 10727 | SH |  | SOLE |  | 0 | 0 | 10727 |
| OCCIDENTAL PETE CORP DEL | COM | 674599105 |  | 5570186 | 78200 | SH |  | SOLE |  | 0 | 0 | 78200 |
| OCEANEERING INTL INC | COM | 675232102 |  | 247768 | 8783 | SH |  | SOLE |  | 0 | 0 | 8783 |
| ORACLE CORP | COM | 68389X105 |  | 11636893 | 302650 | SH |  | SOLE |  | 0 | 0 | 302650 |
| ORANGE | SPONSORED ADR | 684060106 |  | 301634 | 19923 | SH |  | SOLE |  | 0 | 0 | 19923 |
| OTONOMY INC | COM | 68906L105 |  | 160781 | 10112 | SH |  | SOLE |  | 0 | 0 | 10112 |
| OWENS CORNING NEW | COM | 690742101 |  | 421297 | 8171 | SH |  | SOLE |  | 0 | 0 | 8171 |
| P T TELEKOMUNIKASI INDONESIA | SPONSORED ADR | 715684106 |  | 274279 | 9406 | SH |  | SOLE |  | 0 | 0 | 9406 |
| PAYCOM SOFTWARE INC | COM | 70432V102 |  | 446575 | 9817 | SH |  | SOLE |  | 0 | 0 | 9817 |
| PDC ENERGY INC | COM | 69327R101 |  | 245175 | 3378 | SH |  | SOLE |  | 0 | 0 | 3378 |
| PEBBLEBROOK HOTEL TR | COM | 70509V100 |  | 231842 | 7793 | SH |  | SOLE |  | 0 | 0 | 7793 |
| PEPSICO INC | COM | 713448108 |  | 13538180 | 129391 | SH |  | SOLE |  | 0 | 0 | 129391 |
| PERFORMANCE FOOD GROUP CO | COM | 71377A103 |  | 505536 | 21064 | SH |  | SOLE |  | 0 | 0 | 21064 |
| PFIZER INC | COM | 717081103 |  | 15516995 | 477740 | SH |  | SOLE |  | 0 | 0 | 477740 |
| PINNACLE FINL PARTNERS INC | COM | 72346Q104 |  | 571309 | 8244 | SH |  | SOLE |  | 0 | 0 | 8244 |
| POLYONE CORP | COM | 73179P106 |  | 285508 | 8911 | SH |  | SOLE |  | 0 | 0 | 8911 |
| PORTLAND GEN ELEC CO | COM NEW | 736508847 |  | 334118 | 7711 | SH |  | SOLE |  | 0 | 0 | 7711 |
| POWERSHARES ETF TRUST | S 500 QLTY PRT | 73935X682 |  | 2599000 | 100000 | SH |  | SOLE |  | 0 | 0 | 100000 |
| POWERSHARES QQQ TRUST | UNIT SER 1 | 73935A104 |  | 473920 | 4000 | SH |  | SOLE |  | 0 | 0 | 4000 |
| PRAXAIR INC | COM | 74005P104 |  | 270357 | 2307 | SH |  | SOLE |  | 0 | 0 | 2307 |
| PRINCIPAL FINL GROUP INC | COM | 74251V102 |  | 367874 | 6358 | SH |  | SOLE |  | 0 | 0 | 6358 |
| PRUDENTIAL PLC | ADR | 74435K204 |  | 590842 | 14849 | SH |  | SOLE |  | 0 | 0 | 14849 |
| Q2 HLDGS INC | COM | 74736L109 |  | 262275 | 9091 | SH |  | SOLE |  | 0 | 0 | 9091 |
| QTS RLTY TR INC | COM CL A | 74736A103 |  | 300581 | 6054 | SH |  | SOLE |  | 0 | 0 | 6054 |
| REDWOOD TR INC | COM | 758075402 |  | 265856 | 17479 | SH |  | SOLE |  | 0 | 0 | 17479 |
| RELX PLC | SPONSORED ADR | 759530108 |  | 799898 | 44513 | SH |  | SOLE |  | 0 | 0 | 44513 |
| REXNORD CORP NEW | COM | 76169B102 |  | 361945 | 18476 | SH |  | SOLE |  | 0 | 0 | 18476 |
| ROYAL DUTCH SHELL PLC | SPON ADR B | 780259107 |  | 268633 | 4634 | SH |  | SOLE |  | 0 | 0 | 4634 |
| ROYAL DUTCH SHELL PLC | SPONS ADR A | 780259206 |  | 861977 | 15851 | SH |  | SOLE |  | 0 | 0 | 15851 |
| RPM INTL INC | COM | 749685103 |  | 672068 | 12485 | SH |  | SOLE |  | 0 | 0 | 12485 |
| RYANAIR HLDGS PLC | SPONSORED ADR NE | 783513203 |  | 245117 | 2944 | SH |  | SOLE |  | 0 | 0 | 2944 |
| SALESFORCE COM INC | COM | 79466L302 |  | 16457784 | 240400 | SH |  | SOLE |  | 0 | 0 | 240400 |
| SALLY BEAUTY HLDGS INC | COM | 79546E104 |  | 1584540 | 59975 | SH |  | SOLE |  | 0 | 0 | 59975 |
| SAP SE | SPON ADR | 803054204 |  | 882105 | 10206 | SH |  | SOLE |  | 0 | 0 | 10206 |
| SCHEIN HENRY INC | COM | 806407102 |  | 733821 | 4837 | SH |  | SOLE |  | 0 | 0 | 4837 |
| SCHLUMBERGER LTD | COM | 806857108 |  | 10966976 | 130637 | SH |  | SOLE |  | 0 | 0 | 130637 |
| SEI INVESTMENTS CO | COM | 784117103 |  | 1631200 | 33047 | SH |  | SOLE |  | 0 | 0 | 33047 |
| SELECT SECTOR SPDR TR | SBI INT-ENERGY | 81369Y506 |  | 2259600 | 30000 | SH |  | SOLE |  | 0 | 0 | 30000 |
| SEMGROUP CORP | CL A | 81663A105 |  | 334084 | 8002 | SH |  | SOLE |  | 0 | 0 | 8002 |
| SEMPRA ENERGY | COM | 816851109 |  | 453786 | 4509 | SH |  | SOLE |  | 0 | 0 | 4509 |
| SERVICEMASTER GLOBAL HLDGS I | COM | 81761R109 |  | 609463 | 16179 | SH |  | SOLE |  | 0 | 0 | 16179 |
| SHIRE PLC | SPONSORED ADR | 82481R106 |  | 394770 | 2317 | SH |  | SOLE |  | 0 | 0 | 2317 |
| SIGNATURE BK NEW YORK N Y | COM | 82669G104 |  | 518941 | 3455 | SH |  | SOLE |  | 0 | 0 | 3455 |
| SILICON LABORATORIES INC | COM | 826919102 |  | 361075 | 5555 | SH |  | SOLE |  | 0 | 0 | 5555 |
| SMITH  NEPHEW PLC | SPDN ADR NEW | 83175M205 |  | 510969 | 16987 | SH |  | SOLE |  | 0 | 0 | 16987 |
| SONY CORP | ADR NEW | 835699307 |  | 230463 | 8222 | SH |  | SOLE |  | 0 | 0 | 8222 |
| SOUTHERN COPPER CORP | COM | 84265V105 |  | 214573 | 6718 | SH |  | SOLE |  | 0 | 0 | 6718 |
| SPDR DOW JONES INDL AVRG ETF | UT SER 1 | 78467X109 |  | 2370120 | 12000 | SH |  | SOLE |  | 0 | 0 | 12000 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 6907077 | 30900 | SH |  | SOLE |  | 0 | 0 | 30900 |
| SPDR S MIDCAP 400 ETF TR | UTSER1 S | 78467Y107 |  | 22599577 | 74900 | SH |  | SOLE |  | 0 | 0 | 74900 |
| SPIRIT AIRLS INC | COM | 848577102 |  | 314643 | 5438 | SH |  | SOLE |  | 0 | 0 | 5438 |
| SPROUTS FMRS MKT INC | COM | 85208M102 |  | 702991 | 37156 | SH |  | SOLE |  | 0 | 0 | 37156 |
| ST JUDE MED INC | COM | 790849103 |  | 392931 | 4900 | SH |  | SOLE |  | 0 | 0 | 4900 |
| STARBUCKS CORP | COM | 855244109 |  | 18321600 | 330000 | SH |  | SOLE |  | 0 | 0 | 330000 |
| STARWOOD PPTY TR INC | COM | 85571B105 |  | 361736 | 16480 | SH |  | SOLE |  | 0 | 0 | 16480 |
| STATE STR CORP | COM | 857477103 |  | 348963 | 4490 | SH |  | SOLE |  | 0 | 0 | 4490 |
| STATOIL ASA | SPONSORED ADR | 85771P102 |  | 214776 | 11775 | SH |  | SOLE |  | 0 | 0 | 11775 |
| SUMITOMO MITSUI FINL GROUP I | SPONSORED ADR | 86562M209 |  | 409183 | 53558 | SH |  | SOLE |  | 0 | 0 | 53558 |
| SUMMIT HOTEL PPTYS | COM | 866082100 |  | 286344 | 17863 | SH |  | SOLE |  | 0 | 0 | 17863 |
| SUMMIT MATLS INC | CL A | 86614U100 |  | 420488 | 17675 | SH |  | SOLE |  | 0 | 0 | 17675 |
| SUNCOR ENERGY INC NEW | COM | 867224107 |  | 579856 | 17738 | SH |  | SOLE |  | 0 | 0 | 17738 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADR | 874039100 |  | 1095404 | 38101 | SH |  | SOLE |  | 0 | 0 | 38101 |
| TALLGRASS ENERGY GP LP | SHS CL A | 874696107 |  | 340092 | 12690 | SH |  | SOLE |  | 0 | 0 | 12690 |
| TEAM HEALTH HOLDINGS INC | COM | 87817A107 |  | 229590 | 5284 | SH |  | SOLE |  | 0 | 0 | 5284 |
| TELEFLEX INC | COM | 879369106 |  | 1567023 | 9724 | SH |  | SOLE |  | 0 | 0 | 9724 |
| TEVA PHARMACEUTICAL INDS LTD | ADR | 881624209 |  | 10004130 | 275976 | SH |  | SOLE |  | 0 | 0 | 275976 |
| TEXAS ROADHOUSE INC | COM | 882681109 |  | 276849 | 5739 | SH |  | SOLE |  | 0 | 0 | 5739 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 8466000 | 60000 | SH |  | SOLE |  | 0 | 0 | 60000 |
| TOLL BROTHERS INC | COM | 889478103 |  | 229245 | 7395 | SH |  | SOLE |  | 0 | 0 | 7395 |
| TRANSUNION | COM | 89400J107 |  | 645045 | 20855 | SH |  | SOLE |  | 0 | 0 | 20855 |
| TRIMBLE INC | COM | 896239100 |  | 609844 | 20227 | SH |  | SOLE |  | 0 | 0 | 20227 |
| TWENTY FIRST CENTY FOX INC | CL A | 90130A101 |  | 307346 | 10961 | SH |  | SOLE |  | 0 | 0 | 10961 |
| UBS GROUP AG | SHS | H42097107 |  | 287968 | 18377 | SH |  | SOLE |  | 0 | 0 | 18377 |
| ULTA SALON COSMETCS  FRAG I | COM | 90384S303 |  | 575655 | 2258 | SH |  | SOLE |  | 0 | 0 | 2258 |
| UMPQUA HLDGS CORP | COM | 904214103 |  | 825212 | 43941 | SH |  | SOLE |  | 0 | 0 | 43941 |
| UNILEVER N V | N Y SHS NEW | 904784709 |  | 344124 | 8381 | SH |  | SOLE |  | 0 | 0 | 8381 |
| UNILEVER PLC | SPON ADR NEW | 904767704 |  | 327554 | 8048 | SH |  | SOLE |  | 0 | 0 | 8048 |
| UNION PAC CORP | COM | 907818108 |  | 22353408 | 215600 | SH |  | SOLE |  | 0 | 0 | 215600 |
| UNITED NAT FOODS INC | COM | 911163103 |  | 262842 | 5508 | SH |  | SOLE |  | 0 | 0 | 5508 |
| UNITED TECHNOLOGIES CORP | COM | 913017109 |  | 26958627 | 245928 | SH |  | SOLE |  | 0 | 0 | 245928 |
| UNIVAR INC | COM | 91336L107 |  | 568847 | 20051 | SH |  | SOLE |  | 0 | 0 | 20051 |
| VAIL RESORTS INC | COM | 91879Q109 |  | 796871 | 4940 | SH |  | SOLE |  | 0 | 0 | 4940 |
| VALIDUS HOLDINGS LTD | COM SHS | G9319H102 |  | 353659 | 6429 | SH |  | SOLE |  | 0 | 0 | 6429 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 |  | 5036520 | 114000 | SH |  | SOLE |  | 0 | 0 | 114000 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 5367000 | 150000 | SH |  | SOLE |  | 0 | 0 | 150000 |
| VANGUARD SPECIALIZED PORTFOL | DIV APP ETF | 921908844 |  | 2298838 | 26988 | SH |  | SOLE |  | 0 | 0 | 26988 |
| VANTIV INC | CL A | 92210H105 |  | 932636 | 15643 | SH |  | SOLE |  | 0 | 0 | 15643 |
| VARIAN MED SYS INC | COM | 92220P105 |  | 758461 | 8448 | SH |  | SOLE |  | 0 | 0 | 8448 |
| VARONIS SYS INC | COM | 922280102 |  | 230641 | 8606 | SH |  | SOLE |  | 0 | 0 | 8606 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 13681294 | 256300 | SH |  | SOLE |  | 0 | 0 | 256300 |
| VWR CORP | COM | 91843L103 |  | 215408 | 8606 | SH |  | SOLE |  | 0 | 0 | 8606 |
| WAL-MART STORES INC | COM | 931142103 |  | 6006528 | 86900 | SH |  | SOLE |  | 0 | 0 | 86900 |
| WATERS CORP | COM | 941848103 |  | 215696 | 1605 | SH |  | SOLE |  | 0 | 0 | 1605 |
| WAYFAIR INC | CL A | 94419L101 |  | 213525 | 6092 | SH |  | SOLE |  | 0 | 0 | 6092 |
| WELLS FARGO  CO NEW | COM | 949746101 |  | 415033 | 7531 | SH |  | SOLE |  | 0 | 0 | 7531 |
| WEST CORP | COM | 952355204 |  | 397472 | 16053 | SH |  | SOLE |  | 0 | 0 | 16053 |
| WESTAMERICA BANCORPORATION | COM | 957090103 |  | 654094 | 10394 | SH |  | SOLE |  | 0 | 0 | 10394 |
| WEX INC | COM | 96208T104 |  | 990450 | 8875 | SH |  | SOLE |  | 0 | 0 | 8875 |
| WHITE MTNS INS GROUP LTD | COM | G9618E107 |  | 477385 | 571 | SH |  | SOLE |  | 0 | 0 | 571 |
| WINTRUST FINL CORP | COM | 97650W108 |  | 443258 | 6108 | SH |  | SOLE |  | 0 | 0 | 6108 |
| WISDOMTREE TR | JAPN HEDGE EQT | 97717W851 |  | 6440200 | 130000 | SH |  | SOLE |  | 0 | 0 | 130000 |
| WPP PLC NEW | ADR | 92937A102 |  | 395720 | 3576 | SH |  | SOLE |  | 0 | 0 | 3576 |
| ZOES KITCHEN INC | COM | 98979J109 |  | 247265 | 10307 | SH |  | SOLE |  | 0 | 0 | 10307 |

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