Burke & Herbert Bank & Trust Co.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 7, 2025), Burke & Herbert Bank & Trust Co. reported 238 stock positions worth $465.3 million. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 5.7% of the portfolio, followed by Microsoft (MSFT, 5.0%) and Apple (AAPL, 3.4%). Compared with Q2 2025, it opened 7 new positions, sold out of 9, added to 12 and reduced 106. The biggest buy was Invesco QQQ Trust Series 1 (QQQ, shares +1%) and the biggest sale an exit from Cigna (CI).

Most Recent 13F
Q2 2026
Location
ALEXANDRIA, VA
CIK
0001101250
Portfolio Value
$465.3M (Q3 2025)
SEC Filing
0001140361-25-041093 ↗ filed Nov 7, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $132.8M Q1 2024 Q2 2024: $411.4M Q2 2024 Q3 2024: $430.0M Q3 2024 Q4 2024: $421.7M Q4 2024 Q1 2025: $415.6M Q1 2025 Q2 2025: $446.3M Q2 2025 Q3 2025: $465.3M $465.3M Q3 2025 Q4 2025: $362.1M Q4 2025 Q1 2026: $361.9M Q1 2026 Q2 2026: $403.4M Q2 2026

Holdings 238 stocks · $465.3M

SPY SS SPDR S&P 500 ETF Trust-US 5.71% 39,916 $26.6M Reduce -3.0%
MSFT Microsoft Corp. 5.00% 44,951 $23.3M Reduce -1.0%
AAPL Apple Inc. 3.42% 62,488 $15.9M Reduce -1.4%
BHRB Burke & Herbert Financial SE 3.41% 257,161 $15.9M Reduce -0.9%
EFA iShares MSCI Eafe ETF 2.16% 107,456 $10.0M Reduce -0.8%
IJR iShares Core S&P Small-Cap E 2.15% 84,306 $10.0M Reduce -0.0%
RSP Invesco S&P 500 Equal Weight 2.10% 51,442 $9.8M Add +2.3%
JNJ Johnson & Johnson 2.01% 50,480 $9.4M Reduce -1.5%
IJH iShares Core S&P Midcap ETF 1.90% 135,414 $8.8M Reduce -1.1%
XOM Exxon Mobil Corp. 1.78% 73,593 $8.3M Reduce -3.0%
QQQ Invesco QQQ Trust Series 1 1.63% 12,624 $7.6M Add +0.8%
IVV iShares Core S&P 500 ETF 1.59% 11,084 $7.4M Reduce -1.0%
PG The Procter & Gamble Co. 1.52% 45,896 $7.1M Reduce -0.4%
LLY Eli Lilly & Co. 1.37% 8,357 $6.4M Reduce -4.6%
AGG iShares Core U.S. Aggregate 1.34% 62,392 $6.3M Add +1.0%
DVY iShares Select Dividend ETF 1.26% 41,248 $5.9M Reduce -1.4%
KO The Coca-Cola Co. 1.24% 87,154 $5.8M Reduce -0.9%
HD Home Depot Inc. 1.17% 13,422 $5.4M Add +0.9%
ABBV Abbvie Inc. 1.11% 22,309 $5.2M Reduce -1.4%
JPM JPMorgan Chase & Co. 1.11% 16,346 $5.2M Reduce -1.1%
IWM iShares Russell 2000 ETF 1.05% 20,223 $4.9M Reduce -2.5%
GOOGL Alphabet Inc. Class A 1.02% 19,459 $4.7M Reduce -2.9%
WMT Walmart Inc. 0.99% 44,662 $4.6M Reduce -2.9%
SPYG SS SPDR P S&P 500 Growth ETF 0.98% 43,855 $4.6M Reduce -1.7%
IWR iShares Russell Mid-Cap ETF 0.90% 43,538 $4.2M Reduce -1.2%
NSC Norfolk Southern Corp. 0.85% 13,176 $4.0M Reduce -4.7%
HDV iShares Core High Dividend E 0.85% 32,239 $3.9M Reduce -1.2%
CVX Chevron Corp. 0.83% 24,854 $3.9M Reduce -0.0%
EEM iShares MSCI Emerging Market 0.80% 69,307 $3.7M Reduce -0.2%
RTX RTX Corp. 0.77% 21,468 $3.6M No change
CSX CSX Corp. 0.76% 100,215 $3.6M Reduce -0.6%
WM Waste Management Inc. 0.76% 15,975 $3.5M Reduce -1.3%
CSCO Cisco Systems Inc. 0.76% 51,473 $3.5M No change
PFF iShares Preferred & Income S 0.75% 109,806 $3.5M Reduce -0.6%
PM Philip Morris International 0.72% 20,771 $3.4M Reduce -0.1%
IWF iShares Russell 1000 Growth 0.72% 7,182 $3.4M Reduce -3.3%
VYM Vanguard High DVD Yield ETF 0.69% 22,828 $3.2M Reduce -1.6%
VWO Vanguard Ftse Emerging Marke 0.67% 57,196 $3.1M Reduce -0.3%
META Meta Platforms Inc. Class A 0.65% 4,142 $3.0M Add +0.2%
PEP Pepsico Inc. 0.64% 21,141 $3.0M Reduce -6.5%
BRK.B Berkshire Hathaway Inc. Class B 0.63% 5,799 $2.9M No change
AMZN Amazon.com Inc. 0.62% 13,137 $2.9M Reduce -4.2%
PAVE Global X US Infrastructure 0.61% 59,595 $2.8M Reduce -0.7%
XLI SS Industrial Select Sector 0.58% 17,568 $2.7M Reduce -1.5%
VEU Vanguard Ftse All-World Ex-U 0.58% 37,690 $2.7M Reduce -0.3%
AXP American Express Co. 0.57% 7,967 $2.6M No change
SMH Vaneck Semiconductor ETF 0.56% 7,950 $2.6M Reduce -7.3%
NVDA Nvidia Corp. 0.55% 13,727 $2.6M Add +3.1%
ORCL Oracle Corp. 0.54% 8,975 $2.5M No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.54% 21,871 $2.5M Reduce -6.6%
IXN iShares Global Tech ETF 0.54% 24,248 $2.5M Reduce -0.3%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.53% 47,473 $2.4M No change
IEI iShares 3-7 Year Treasury Bo 0.53% 20,451 $2.4M Reduce -0.2%
EMXC iShares MSCI Emr MRK Ex Chna 0.50% 34,716 $2.3M Reduce -0.7%
IGSB iShares 1-5Y Inv Grade Corp. 0.50% 43,480 $2.3M Reduce -1.2%
CAT Caterpillar Inc. 0.49% 4,776 $2.3M Reduce -1.0%
EMR Emerson Electric Co. 0.48% 16,928 $2.2M Reduce -0.3%
VEA Vanguard Ftse Developed ETF 0.48% 36,912 $2.2M Reduce -0.3%
GE General Electric filed as GE AEROSPACE 0.47% 7,331 $2.2M Reduce -3.8%
XLF SS Financial Select Sector 0.47% 40,925 $2.2M Reduce -5.2%
CIBR First Trust Nasdaq Cybersecu 0.47% 28,886 $2.2M Reduce -0.3%
COF Capital One Financial Corp. 0.47% 10,317 $2.2M No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.47% 7,770 $2.2M Reduce -3.3%
IVW iShares S&P 500 Growth ETF 0.47% 17,987 $2.2M Reduce -2.5%
LOW Lowe's Cos Inc. 0.47% 8,634 $2.2M No change
IWD iShares Russell 1000 Value E 0.46% 10,467 $2.1M Reduce -3.6%
GOOG Alphabet Inc. Class C 0.44% 8,489 $2.1M Reduce -6.3%
ABT Abbott Laboratories 0.43% 15,083 $2.0M Reduce -2.0%
VZ Verizon Communications Inc. 0.42% 44,172 $1.9M Reduce -3.6%
PFE Pfizer Inc. 0.42% 76,033 $1.9M Reduce -4.7%
COST Costco Wholesale Corp. 0.41% 2,037 $1.9M Reduce -0.2%
MRK Merck & Co. Inc. 0.40% 22,396 $1.9M Reduce -6.3%
QQEW First TR Nasdaq-100 Sel Eq 0.40% 13,248 $1.9M No change
WFC Wells Fargo & Co. 0.40% 22,291 $1.9M No change
DUK Duke Energy Corp. 0.38% 14,413 $1.8M Reduce -0.6%
GS Goldman Sachs Group Inc. 0.37% 2,166 $1.7M Add +4.8%
GD General Dynamics Corp. 0.37% 4,997 $1.7M No change
ADP Automatic Data Processing 0.36% 5,679 $1.7M Reduce -0.2%
HON Honeywell International Inc. 0.35% 7,841 $1.7M Reduce -0.3%
UBER Uber Technologies Inc. 0.35% 16,700 $1.6M No change
NEE Nextera Energy Inc. 0.35% 21,568 $1.6M No change
ADSK Autodesk Inc. 0.34% 5,000 $1.6M No change
VOO Vanguard S&P 500 ETF 0.34% 2,559 $1.6M Reduce -3.2%
VRP Invesco Variable Rate Prefer 0.33% 62,230 $1.5M Reduce -1.2%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.32% 18,578 $1.5M Reduce -1.8%
MCD McDonald's Corp. 0.32% 4,933 $1.5M No change
T AT&T Inc. 0.31% 51,842 $1.5M Reduce -0.6%
SO The Southern Co. 0.31% 15,350 $1.5M No change
MO Altria Group Inc. 0.31% 21,725 $1.4M Reduce -1.1%
FDN First Trust DJ Internet Ind 0.31% 5,093 $1.4M No change
XLK SS Technology Select Sector 0.30% 4,980 $1.4M Reduce -1.3%
IWP iShares Russell Mid-Cap Grow 0.30% 9,747 $1.4M Reduce -3.0%
QLD Proshares Ultra QQQ 0.29% 10,000 $1.4M No change
FCBC First Community Bankshares 0.29% 38,682 $1.3M Reduce -0.3%
V Visa Inc. Class A 0.28% 3,885 $1.3M No change
INTC Intel Corp. 0.28% 39,142 $1.3M Reduce -5.6%
ICE Intercontinental Exchange Inc. 0.27% 7,510 $1.3M Reduce -5.3%
CL Colgate-Palmolive Co. 0.27% 15,715 $1.3M Reduce -0.8%
AEP American Electric Power 0.27% 11,117 $1.3M Reduce -3.5%
IBB iShares Biotechnology ETF 0.27% 8,654 $1.2M Reduce -1.8%

Show all 238 holdings

Portfolio Sells Q2 2025 → Q3 2025

CI The Cigna Group Sold out 0.00% −0.42
LLY Eli Lilly & Co. Reduce -4.6% 1.37% −0.16
KO The Coca-Cola Co. Reduce -0.9% 1.24% −0.15
ELV Elevance Health Inc. Sold out 0.00% −0.14
PG The Procter & Gamble Co. Reduce -0.4% 1.52% −0.13
PM Philip Morris International Reduce -0.1% 0.72% −0.12
DIS The Walt Disney Co. Reduce -6.6% 0.54% −0.11
FISV Fiserv Inc. Reduce -2.0% 0.26% −0.11
EW Edwards Lifesciences Corp. Reduce -25.3% 0.19% −0.08
COM Direxion Auspice BRD Cmdty Sold out 0.00% −0.07
WM Waste Management Inc. Reduce -1.3% 0.76% −0.07
BHRB Burke & Herbert Financial SE Reduce -0.9% 3.41% −0.06
IBM Intl Business Machines Corp. Reduce -3.3% 0.47% −0.06
MSFT Microsoft Corp. Reduce -1.0% 5.00% −0.06
HON Honeywell International Inc. Reduce -0.3% 0.35% −0.06
AMZN Amazon.com Inc. Reduce -4.2% 0.62% −0.05
ICE Intercontinental Exchange Inc. Reduce -5.3% 0.27% −0.05
CL Colgate-Palmolive Co. Reduce -0.8% 0.27% −0.05
FCBC First Community Bankshares Reduce -0.3% 0.29% −0.05
CARR Carrier Global Corp. Sold out 0.00% −0.05
XOM Exxon Mobil Corp. Reduce -3.0% 1.78% −0.05
ADBE Adobe Inc. Sold out 0.00% −0.05
COST Costco Wholesale Corp. Reduce -0.2% 0.41% −0.05
GWW WW Grainger Inc. Sold out 0.00% −0.05
FCX Freeport-McMoran Inc. Sold out 0.00% −0.05
MRSH Marsh & McLennan Cos Sold out 0.00% −0.05
KHC The Kraft Heinz Co. Sold out 0.00% −0.04
INTU Intuit Inc. Reduce -0.8% 0.18% −0.04
ABT Abbott Laboratories Reduce -2.0% 0.43% −0.04
ADP Automatic Data Processing Reduce -0.2% 0.36% −0.03
XLF SS Financial Select Sector Reduce -5.2% 0.47% −0.03
GLPI Gaming and Leisure Propertie Reduce -29.4% 0.07% −0.03
PEP Pepsico Inc. Reduce -6.5% 0.64% −0.03
EMR Emerson Electric Co. Reduce -0.3% 0.48% −0.03
VZ Verizon Communications Inc. Reduce -3.6% 0.42% −0.03
CMCSA Comcast Corp. Class A Reduce -1.6% 0.12% −0.03
IGSB iShares 1-5Y Inv Grade Corp. Reduce -1.2% 0.50% −0.02
BMY Bristol-Myers Squibb Co. Reduce -9.1% 0.13% −0.02
T AT&T Inc. Reduce -0.6% 0.31% −0.02
IHI iShares U.S. Medical Devices Reduce -1.1% 0.23% −0.02
YUM Yum! Brands Inc. Reduce -20.2% 0.08% −0.02
IEI iShares 3-7 Year Treasury Bo Reduce -0.2% 0.53% −0.02
SHY iShares 1-3 Year Treasury Bo Reduce -8.2% 0.15% −0.02
MRK Merck & Co. Inc. Reduce -6.3% 0.40% −0.02
AMAT Applied Materials Inc. Reduce -17.9% 0.14% −0.02
KMB Kimberly-Clark Corp. Reduce -18.0% 0.06% −0.02
CIBR First Trust Nasdaq Cybersecu Reduce -0.3% 0.47% −0.02
WMT Walmart Inc. Reduce -2.9% 0.99% −0.02
TFC Truist Financial Corp. Reduce -10.7% 0.18% −0.02
HYG Ishr Ibx Usd Hiyld CB ETF-Ui Reduce -1.8% 0.32% −0.02

Portfolio Buys Q2 2025 → Q3 2025

QQQ Invesco QQQ Trust Series 1 Add +0.8% 1.63% +0.08
NVDA Nvidia Corp. Add +3.1% 0.55% +0.08
SCHD Schwab US DVD Equity ETF Add +125.2% 0.14% +0.08
HD Home Depot Inc. Add +0.9% 1.17% +0.08
CB Chubb Ltd. Add +93.5% 0.14% +0.06
JSMD Janus Small Mid Cap GR Alp New 0.06% +0.06
RSP Invesco S&P 500 Equal Weight Add +2.3% 2.10% +0.05
VIOO Vanguard S&P Small-Cap 600 E New 0.05% +0.05
SPMO Invesco S&P 500 Momentum ETF New 0.05% +0.05
ISCG iShares Morningstar Small-Ca New 0.04% +0.04
XLG Invesco S&P 500 Top 50 ETF New 0.04% +0.04
QTUM Defiance Quantum ETF New 0.04% +0.04
USCI United States Commodity Inde New 0.04% +0.04
GS Goldman Sachs Group Inc. Add +4.8% 0.37% +0.04
SLV iShares Silver Trust Add +19.9% 0.12% +0.04
CCJ Cameco Corp. Add +7.3% 0.25% +0.04
USB US Bancorp Add +8.0% 0.06% +0.01
AGG iShares Core U.S. Aggregate Add +1.0% 1.34% −0.03
META Meta Platforms Inc. Class A Add +0.2% 0.65% −0.03

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 246$403.4MSPY, AAPL, BHRB, MSFT, JNJ
Q1 2026 235$361.9MSPY, AAPL, BHRB, MSFT, JNJ
Q4 2025 230$362.1MSPY, AAPL, MSFT, BHRB, JNJ
Q3 2025 238$465.3MSPY, MSFT, AAPL, BHRB, EFA
Q2 2025 240$446.3MSPY, MSFT, BHRB, AAPL, EFA
Q1 2025 229$415.6MSPY, MSFT, AAPL, BHRB, XOM
Q4 2024 226$421.7MSPY, MSFT, AAPL, BHRB, IJR
Q3 2024 229$430.0MSPY, MSFT, BHRB, AAPL, IJR
Q2 2024 227$411.4MMSFT, SPY, BHRB, AAPL, LLY
Q1 2024 119$132.8MBHRB, SPY, MSFT, AAPL, XOM