Heritage Financial Services, LLC
CIK 1752035 · View on SEC EDGAR ↗
- Portfolio value
- $1.2B
- Positions
- 126
- As of
- Dec. 31, 2025 Data as of Q4 2025
#2,165 of 9,443 by 13F value · top 22.9%
Portfolio value QoQ: +7.7% 13F does not disclose cash
- Top 10 holdings weight
- 89.06%
- Top 25 holdings weight
- 94.47%
- Positions above 1%
- 10
- Effective number of positions
- 6.3
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q4 2025: 1.83% Est. buys $89,686,895 · sells $21,139,037
Median holding: 5.0 quarters Tracked Q4 2024–Q4 2025 · 80.8% still held
- New positions
- 6
- Increased
- 44
- Decreased
- 56
- Closed
- 14
On this page
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- High-conviction bets The holdings this manager is most concentrated in.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Sector breakdown
Technology
2.1%
Healthcare
0.6%
Retail
0.4%
Consumer products
0.2%
Energy
0.2%
Communication Services
0.2%
Financials
0.2%
Industrials
0.2%
Consumer Staples
0.1%
Consumer Discretionary
0.1%
Utilities
0.1%
Financial Services
0.1%
Communications
0.0%
Telecommunication
0.0%
Other/Unmapped
95.4%
Full portfolio 126 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| VGIT Vanguard Intermediate-Term Treasury ETF | $311,801,401 | 26.03% | 5,202,760 | $47,102,200 | Up ×2 | ||
| IDEV | $270,395,226 | 22.57% | 3,278,313 | $12,082,921 | Up ×2 | ||
| DFAC | $178,962,777 | 14.94% | 4,520,404 | $729,868 | Down ×4 | ||
| JPIE | $131,862,993 | 11.01% | 2,848,628 | $24,870,219 | Up ×3 | ||
| DFEM | $57,600,831 | 4.81% | 1,741,258 | $179,731 | Down ×4 | ||
| USRT | $49,424,059 | 4.13% | 867,698 | $3,719,365 | Up ×3 | ||
| AVUV | $19,984,448 | 1.67% | 195,964 | $2,073,327 | Up ×3 | ||
| ITOT | $18,164,508 | 1.52% | 122,164 | $-970,059 | Down ×4 | ||
| DFSU | $15,811,387 | 1.32% | 364,066 | $1,455,223 | Up ×1 | ||
| JPST | $12,930,610 | 1.08% | 255,596 | $-213,896 | Down ×1 | ||
| AAPL Apple Inc. - Common Stock | $10,607,805 | 0.89% | 39,019 | $-62,304 | Down ×1 | ||
| AGG | $8,328,181 | 0.70% | 83,382 | $463,882 | Up ×2 | ||
| DFSI | $7,646,376 | 0.64% | 178,466 | $609,101 | Up ×1 | ||
| DFAI | $5,090,261 | 0.42% | 133,568 | $498,398 | Up ×3 | ||
| NVDA NVIDIA Corporation - Common Stock | $4,478,239 | 0.37% | 24,012 | $-3,149,899 | Down ×2 | ||
| MSFT Microsoft Corporation - Common Stock | $3,998,199 | 0.33% | 8,267 | $-738,056 | Down ×3 | ||
| VTI | $3,844,344 | 0.32% | 11,466 | $346,573 | Up ×1 | ||
| IEMG | $3,312,190 | 0.28% | 49,274 | $-329,090 | Down ×4 | ||
| DFAE | $3,198,362 | 0.27% | 98,200 | $208,541 | Up ×4 | ||
| DFEV | $2,786,587 | 0.23% | 82,590 | $96,984 | Down ×4 | ||
| DFSE | $2,477,725 | 0.21% | 59,733 | $59,331 | Up ×1 | ||
| VOO | $2,400,762 | 0.20% | 3,828 | $-247,887 | Down ×1 | ||
| IVV | $2,343,865 | 0.20% | 3,422 | $-40,851 | Down ×1 | ||
| VUG | $2,252,450 | 0.19% | 4,617 | $38,090 | |||
| IVW | $2,116,621 | 0.18% | 17,172 | $-121,287 | Down ×2 | ||
| AVGO Broadcom Inc. - Common Stock | $2,088,714 | 0.17% | 6,035 | $-625,126 | Down ×1 | ||
| PG Procter & Gamble Company (The) Common Stock | $2,045,160 | 0.17% | 14,271 | $-170,781 | Down ×2 | ||
| IWV | $2,024,093 | 0.17% | 5,232 | $-20,380 | Down ×4 | ||
| SPY SPY | $1,996,861 | 0.17% | 2,928 | $-527,438 | Down ×1 | ||
| LLY Eli Lilly and Company Common Stock | $1,934,424 | 0.16% | 1,800 | $540,423 | Down ×3 | ||
| IWF | $1,824,099 | 0.15% | 3,854 | $-95,446 | Down ×1 | ||
| JNJ Johnson & Johnson Common Stock | $1,817,607 | 0.15% | 8,783 | $190,392 | Up ×1 | ||
| IVE | $1,783,721 | 0.15% | 8,411 | $46,765 | |||
| IBM International Business Machines Corporation Common Stock | $1,667,663 | 0.14% | 5,630 | $308,780 | Up ×1 | ||
| XOM Exxon Mobil Corporation Common Stock | $1,490,290 | 0.12% | 12,384 | $145,971 | Up ×1 | ||
| KO Coca-Cola Company (The) Common Stock | $1,467,761 | 0.12% | 20,995 | $105,680 | Up ×1 | ||
| BRKB | $1,421,997 | 0.12% | 2,829 | $-351,167 | Down ×1 | ||
| GOOG Alphabet Inc. - Class C Capital Stock | $1,389,507 | 0.12% | 4,428 | $232,888 | Down ×1 | ||
| AMZN Amazon.com, Inc. - Common Stock | $1,270,203 | 0.11% | 5,503 | $30,510 | Down ×2 | ||
| COST Costco Wholesale Corporation - Common Stock | $1,256,871 | 0.10% | 1,458 | $-83,915 | Up ×1 | ||
| VEA | $1,228,973 | 0.10% | 19,673 | $78,089 | Up ×1 | ||
| MCD McDonald's Corporation Common Stock | $1,195,931 | 0.10% | 3,913 | $-551,741 | Down ×1 | ||
| AMAT Applied Materials, Inc. - Common Stock | $1,160,925 | 0.10% | 4,517 | $230,915 | Down ×1 | ||
| AVUS | $1,057,306 | 0.09% | 9,459 | $451,520 | Up ×1 | ||
| TJX TJX Companies, Inc. (The) Common Stock | $1,023,350 | 0.09% | 6,662 | $63,315 | Up ×1 | ||
| BND Vanguard Total Bond Market ETF | $1,011,426 | 0.08% | 13,655 | $3,712 | Up ×2 | ||
| VTEB | $970,748 | 0.08% | 19,303 | $6,550 | Up ×1 | ||
| GOOGL Alphabet Inc. - Class A Common Stock | $958,093 | 0.08% | 3,061 | $147,597 | Down ×1 | ||
| NEE NextEra Energy, Inc. Common Stock | $948,188 | 0.08% | 11,811 | $94,169 | Up ×1 | ||
| JPM JP Morgan Chase & Co. Common Stock | $852,595 | 0.07% | 2,646 | $-40,317 | Down ×1 | ||
| SDY | $837,048 | 0.07% | 6,015 | $-5,353 | |||
| VTV | $829,372 | 0.07% | 4,342 | $19,541 | |||
| VIG | $785,428 | 0.07% | 3,574 | $18,790 | Up ×2 | ||
| DXJ | $773,184 | 0.06% | 5,363 | $64,362 | Down ×1 | ||
| ABBV AbbVie Inc. Common Stock | $772,525 | 0.06% | 3,381 | $-111,727 | Down ×1 | ||
| IWB | $737,171 | 0.06% | 1,974 | $-47,150 | Down ×1 | ||
| IUSG iShares Core S&P U.S. Growth ETF | $663,867 | 0.06% | 3,953 | $13,440 | |||
| VO | $650,384 | 0.05% | 2,241 | $-72,217 | Down ×1 | ||
| ES Eversource Energy (D/B/A) Common Stock | $623,476 | 0.05% | 9,260 | $-48,157 | Down ×1 | ||
| SCHX | $599,394 | 0.05% | 22,274 | $12,696 | |||
| MRK Merck & Company, Inc. Common Stock (new) | $573,667 | 0.05% | 5,450 | $132,446 | Up ×1 | ||
| GLD | $567,913 | 0.05% | 1,433 | $-66,601 | Down ×1 | ||
| IGOV iShares International Treasury Bond ETF | $564,327 | 0.05% | 13,546 | $-12,733 | |||
| SCHB | $556,812 | 0.05% | 21,228 | $1,140 | Down ×2 | ||
| MFC Manulife Financial Corporation Common Stock | $548,082 | 0.05% | 15,107 | $77,498 | |||
| AXP American Express Company Common Stock | $543,457 | 0.05% | 1,469 | $11,004 | Down ×1 | ||
| HD Home Depot, Inc. (The) Common Stock | $534,031 | 0.04% | 1,552 | $-174,226 | Down ×1 | ||
| VGT | $529,154 | 0.04% | 702 | $2,779 | Down ×3 | ||
| V Visa Inc. | $528,170 | 0.04% | 1,506 | $90,179 | Up ×1 | ||
| CAT Caterpillar, Inc. Common Stock | $526,468 | 0.04% | 919 | $91,784 | Up ×2 | ||
| IEFA | $499,903 | 0.04% | 5,588 | $34,540 | Up ×1 | ||
| IAU | $498,871 | 0.04% | 6,146 | $-306,330 | Down ×1 | ||
| MUB | $489,707 | 0.04% | 4,572 | $3,367 | Up ×1 | ||
| IWD | $485,045 | 0.04% | 2,306 | $15,566 | |||
| ABT Abbott Laboratories Common Stock | $474,348 | 0.04% | 3,786 | $-18,284 | Up ×1 | ||
| META Meta Platforms, Inc. - Class A Common Stock | $473,945 | 0.04% | 718 | $13,488 | Up ×1 | ||
| CVX Chevron Corporation Common Stock | $461,650 | 0.04% | 3,029 | $-27,825 | Down ×1 | ||
| ADI Analog Devices, Inc. - Common Stock | $452,282 | 0.04% | 1,668 | $-320,372 | Down ×3 | ||
| IWM | $434,627 | 0.04% | 1,766 | $-1,295 | Down ×1 | ||
| DFIV | $431,444 | 0.04% | 8,646 | $32,682 | |||
| TOTL | $423,471 | 0.04% | 10,521 | $-3,366 | |||
| QQQ Invesco QQQ Trust, Series 1 | $423,260 | 0.04% | 689 | $-22,815 | Down ×2 | ||
| TRMB Trimble Inc. - Common Stock | $418,703 | 0.03% | 5,344 | $-17,390 | Up ×1 | ||
| AIRJ AirJoule Technologies Corporation - Class A Common Stock | $385,356 | 0.03% | 97,806 | $327,317 | Up ×1 | ||
| SCHH | $372,595 | 0.03% | 17,836 | $-25,501 | Down ×3 | ||
| SPTI | $372,094 | 0.03% | 12,902 | $-774 | |||
| WMT Walmart Inc. - Common Stock | $350,274 | 0.03% | 3,144 | $39,960 | Up ×2 | ||
| VXUS Vanguard Total International Stock ETF | $342,205 | 0.03% | 4,536 | $-27,749 | Down ×1 | ||
| TPL Texas Pacific Land Corporation Common Stock | $341,218 | 0.03% | 1,188 | $-28,504 | Up ×2 | ||
| UNH UnitedHealth Group Incorporated Common Stock (DE) | $333,412 | 0.03% | 1,010 | $2,269 | Up ×1 | ||
| VWO | $327,023 | 0.03% | 6,083 | $-4,224 | Down ×4 | ||
| AVDE | $326,816 | 0.03% | 3,970 | Up ×1 | |||
| ISHG iShares 1-3 Year International Treasury Bond ETF | $319,921 | 0.03% | 4,252 | $-3,997 | |||
| QCOM QUALCOMM Incorporated - Common Stock | $313,557 | 0.03% | 1,833 | $12,756 | Up ×1 | ||
| PSTG Everpure, Inc. Class A common stock | $303,087 | 0.03% | 4,523 | $-75,902 | Up ×1 | ||
| GE GE Aerospace Common Stock | $301,254 | 0.03% | 978 | $12,466 | Up ×1 | ||
| BAC Bank of America Corporation Common Stock | $300,179 | 0.03% | 5,458 | $6,849 | Down ×3 | ||
| RTX RTX Corporation Common Stock | $293,624 | 0.02% | 1,601 | $-71,825 | Down ×1 | ||
| DVY iShares Select Dividend ETF | $291,313 | 0.02% | 2,064 | $-1,982 | |||
| VXF | $290,829 | 0.02% | 1,391 | $-306 | |||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
| Security | Value | % of portfolio | Streak |
|---|---|---|---|
| JPIE | $131,862,993 | 11.01% | up ×3 |
| USRT | $49,424,059 | 4.13% | up ×3 |
| AVUV | $19,984,448 | 1.67% | up ×3 |
| DFAI | $5,090,261 | 0.42% | up ×3 |
| DFAE | $3,198,362 | 0.27% | up ×4 |
Biggest new bets
New positions opened this quarter, largest first.
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| VGIT | Bought more | +793K | +$47.1M |
| JPIE | Bought more | +543K | +$24.9M |
| IDEV | Bought more | +56K | +$12.1M |
| USRT | Bought more | +89K | +$3.7M |
| NVDA | Trimmed | -17K | -$3.1M |
| AVUV | Bought more | +16K | +$2.1M |
| DFSU | Bought more | +26K | +$1.5M |
| ITOT | Trimmed | -9K | -$970K |
| MSFT | Trimmed | -877 | -$738K |
| DFAC | Trimmed | -101K | +$730K |
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| BSX | June 30, 2025 | 9,388 | $947,062 | -52.1% |
| PAYX | Dec. 31, 2025 | 3,934 | $498,674 | 10.1% |
| TSLA | Dec. 31, 2025 | 861 | $382,904 | -23.2% |
| SHW | Dec. 31, 2025 | 963 | $333,449 | 6.0% |
| QUIK | Dec. 31, 2025 | 50,000 | $303,000 | 92.7% |
| BA | Dec. 31, 2025 | 1,337 | $288,565 | 1.0% |
| HON | March 31, 2025 | 1,241 | $280,330 | 10.9% |
| IJJ | March 31, 2025 | 2,218 | $277,150 | No longer tracked |
| IJK | March 31, 2025 | 3,040 | $276,428 | No longer tracked |
| IJH | June 30, 2025 | 4,593 | $268,002 | No longer tracked |
| CVS | June 30, 2025 | 3,828 | $259,348 | 36.3% |
| TMO | June 30, 2025 | 512 | $254,772 | 52.8% |
| VHT | March 31, 2025 | 1,002 | $254,198 | No longer tracked |
| VBR | March 31, 2025 | 1,260 | $249,798 | No longer tracked |
| CI | Sept. 30, 2025 | 733 | $242,316 | -3.4% |
| BNDX | June 30, 2025 | 4,819 | $235,264 | |
| AMGN | Sept. 30, 2025 | 834 | $232,862 | 54.6% |
| IJS | March 31, 2025 | 2,126 | $230,905 | No longer tracked |
| IJT | March 31, 2025 | 1,654 | $223,902 | |
| HON | Dec. 31, 2025 | 1,042 | $219,341 | 13.4% |
| AMD | Sept. 30, 2025 | 1,544 | $219,094 | 188.0% |
| GLW | Dec. 31, 2025 | 2,652 | $217,544 | 71.8% |
| PEP | March 31, 2025 | 1,423 | $216,382 | -5.2% |
| SYK | Dec. 31, 2025 | 578 | $213,817 | -3.3% |
| ETN | Dec. 31, 2025 | 566 | $211,826 | 30.8% |
| PFE | March 31, 2025 | 7,938 | $210,596 | 9.8% |
| TRV | Dec. 31, 2025 | 752 | $209,974 | 25.4% |
| TSLA | March 31, 2025 | 516 | $208,382 | 33.2% |
| PEP | Dec. 31, 2025 | 1,477 | $207,430 | -0.9% |
| CBT | Dec. 31, 2025 | 2,707 | $205,868 | 27.7% |
| SCHJ | Sept. 30, 2025 | 8,290 | $205,675 | No longer tracked |
| ORCL | March 31, 2025 | 1,233 | $205,468 | 2.0% |
| TXN | Sept. 30, 2025 | 982 | $203,883 | 44.8% |
| ROP | Sept. 30, 2025 | 359 | $203,496 | -17.9% |
| VOOG | Dec. 31, 2025 | 464 | $202,095 | No longer tracked |
| PHYS | Dec. 31, 2025 | 6,790 | $201,120 | No longer tracked |
| SPLV | June 30, 2025 | 2,684 | $200,549 | No longer tracked |
| VERUXXXX | Sept. 30, 2025 | 17,196 | $10,005 | No longer tracked |