Hendershot Investments Inc.

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 6, 2025), Hendershot Investments Inc. reported 129 stock positions worth $734.7 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 15.8% of the portfolio, followed by Apple (AAPL, 5.1%) and Alphabet Class A (GOOGL, 4.3%). Compared with Q4 2024, it opened 2 new positions, sold out of 4, added to 51 and reduced 40. The biggest buy was General Dynamics (GD, shares +64%) and the biggest sale an exit from Starbucks (SBUX).

Most Recent 13F
Q2 2026
Location
CENTREVILLE, VA
CIK
0001541496
Portfolio Value
$734.7M (Q1 2025)
SEC Filing
0001541496-25-000006 ↗ filed May 6, 2025

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $699.4M Q1 2024 Q2 2024: $695.9M Q2 2024 Q3 2024: $736.2M Q3 2024 Q4 2024: $733.7M Q4 2024 Q1 2025: $734.7M $734.7M Q1 2025 Q2 2025: $748.4M Q2 2025 Q3 2025: $794.4M Q3 2025 Q4 2025: $784.5M Q4 2025 Q1 2026: $744.0M Q1 2026 Q2 2026: $765.5M Q2 2026

Holdings 129 stocks · $734.7M
BRK.B Berkshire Hathaway Inc. Class B 15.84% 218,506 $116.4M Reduce -0.2%
AAPL Apple Inc. 5.06% 167,229 $37.1M Reduce -12.6%
GOOGL Alphabet Inc. Class A 4.33% 205,581 $31.8M Add +2.0%
TJX TJX Companies Inc. filed as TJX COS INC NEW 4.17% 251,387 $30.6M Add +1.0%
BKNG Booking Holdings Inc. 4.12% 6,567 $30.3M Add +2.9%
JNJ Johnson & Johnson 3.51% 155,351 $25.8M Add +3.8%
V Visa Inc. Class A 3.20% 67,163 $23.5M Add +0.2%
UNH Unitedhealth Group Inc. 3.20% 44,837 $23.5M Add +5.2%
MSFT Microsoft Corp. 3.07% 60,012 $22.5M Add +1.1%
ADP Automatic Data Processing 2.85% 68,547 $20.9M Reduce -1.2%
MA Mastercard Inc. Class A 2.65% 35,567 $19.5M Add +0.4%
PEP Pepsico Inc. 2.47% 120,914 $18.1M Add +5.0%
GD General Dynamics Corp. 2.35% 63,237 $17.2M Add +64.0%
CTSH Cognizant Tech Solutions-A 2.33% 223,684 $17.1M Add +0.7%
GPC Genuine Parts Co. 1.98% 122,240 $14.6M Add +4.7%
GNTX Gentex Corp. 1.90% 598,362 $13.9M Reduce -9.2%
AMZN Amazon.com Inc. 1.86% 71,830 $13.7M Add +2.6%
RTX RTX Corp. 1.85% 102,611 $13.6M Reduce -1.1%
CPAY Corpay Inc. 1.60% 33,681 $11.7M Add +2.5%
RMD Resmed Inc. 1.43% 46,830 $10.5M Add +3.0%
TXRH Texas Roadhouse Inc. 1.40% 61,789 $10.3M Add +34.4%
PAYX Paychex Inc. 1.38% 65,698 $10.1M Reduce -0.5%
ORCL Oracle Corp. 1.38% 72,301 $10.1M Reduce -2.5%
TSCO Tractor Supply Company 1.33% 177,880 $9.8M Reduce -0.5%
ROST Ross Stores Inc. 1.30% 74,647 $9.5M Add +0.1%
ACN Accenture PLC Class A 1.27% 29,802 $9.3M Add +0.1%
CNI Canadian Natl Railway Co. 1.24% 93,261 $9.1M Reduce -17.3%
META Meta Platforms Inc. Class A 1.22% 15,613 $9.0M Reduce -1.5%
MOH Molina Healthcare Inc. 1.22% 27,145 $8.9M Add +4.8%
FAST Fastenal Co. 1.08% 102,381 $7.9M Reduce -2.7%
KNSL Kinsale Capital Group Inc. 1.03% 15,611 $7.6M Add +13.1%
ULTA Ulta Beauty Inc. 0.98% 19,629 $7.2M Reduce -1.9%
UPS United Parcel Service Class B 0.92% 61,255 $6.7M Reduce -16.1%
AXP American Express Co. 0.89% 24,361 $6.6M Reduce -0.0%
ADBE Adobe Inc. 0.87% 16,632 $6.4M New
FDS Factset Research Systems Inc. 0.75% 12,110 $5.5M Add +0.3%
GOOG Alphabet Inc. Class C 0.74% 34,915 $5.5M Reduce -0.3%
NVDA Nvidia Corp. 0.74% 50,104 $5.4M Add +1199.4%
SYK Stryker Corp. 0.67% 13,276 $4.9M Add +5.9%
PHM Pultegroup Inc. 0.53% 38,214 $3.9M Reduce -0.7%
VTI VG Morningstar TS MKT ETF-US 0.46% 12,295 $3.4M Add +15.6%
BRK.A Berkshire Hathaway Inc. Class A 0.43% 4 $3.2M No change
VSEC Vse Corp. 0.39% 24,055 $2.9M Reduce -6.8%
PG The Procter & Gamble Co. 0.39% 16,925 $2.9M Add +0.8%
SCHR Schwab Intermediate-Term US 0.38% 110,913 $2.8M Add +3.0%
LLY Eli Lilly & Co. 0.31% 2,758 $2.3M Add +9.0%
CVX Chevron Corp. 0.28% 12,478 $2.1M Reduce -1.2%
JPM JPMorgan Chase & Co. 0.28% 8,503 $2.1M Add +3.3%
SCHB Schwab US Broad Market ETF 0.25% 84,068 $1.8M Reduce -0.7%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.22% 16,490 $1.6M No change
ABBV Abbvie Inc. 0.22% 7,699 $1.6M Add +0.4%
TPL Texas Pacific Land Corp. 0.20% 1,137 $1.5M No change
PM Philip Morris International 0.18% 8,370 $1.3M Reduce -2.2%
MRK Merck & Co. Inc. 0.18% 14,585 $1.3M Reduce -5.7%
CEG Constellation Energy 0.17% 6,019 $1.2M Reduce -12.3%
HRL Hormel Foods Corp. 0.16% 37,979 $1.2M Reduce -4.2%
BN Brookfield Corp. 0.16% 22,196 $1.2M Reduce -1.6%
MCD McDonald's Corp. 0.16% 3,703 $1.2M Add +1.1%
ABT Abbott Laboratories 0.16% 8,684 $1.2M Add +1.5%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.16% 27,370 $1.1M No change
WMT Walmart Inc. 0.15% 12,894 $1.1M Add +1.5%
BND Vanguard Total Bond Market 0.14% 14,335 $1.1M Reduce -1.8%
WEC WEC Energy Group Inc. 0.14% 9,369 $1.0M Add +1.6%
OKE Oneok Inc. 0.14% 10,145 $1.0M No change
XOM Exxon Mobil Corp. 0.13% 8,200 $975K Add +2.1%
ED Consolidated Edison Inc. 0.13% 8,696 $962K Reduce -1.2%
KO The Coca-Cola Co. 0.12% 11,947 $856K Add +0.8%
PSA Public Storage 0.11% 2,801 $838K Reduce -11.0%
MDLZ Mondelez International Inc. Class A 0.11% 12,030 $816K Reduce -2.7%
TT Trane Technologies PLC 0.10% 2,270 $765K No change
ITW Illinois Tool Works 0.10% 3,015 $748K Add +4.1%
VIGI Vanguard Int Div App Indx FD 0.10% 8,776 $728K Add +1.9%
PLD Prologis Inc. 0.10% 6,326 $707K Reduce -10.3%
COST Costco Wholesale Corp. 0.10% 747 $706K Add +4.8%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.09% 7,874 $660K No change
D Dominion Energy Inc. 0.09% 11,583 $649K Add +1.5%
TTE Totalenergies SE -Spon ADR 0.09% 9,675 $626K No change
WELL Welltower Inc. 0.08% 4,073 $624K Reduce -1.0%
PFE Pfizer Inc. 0.08% 24,525 $621K Add +1.7%
NSC Norfolk Southern Corp. 0.08% 2,480 $587K Reduce -2.1%
DUK Duke Energy Corp. 0.08% 4,814 $587K Add +0.2%
HD Home Depot Inc. 0.08% 1,597 $585K No change
SCHM Schwab US Mid Cap ETF 0.08% 21,956 $575K Add +1.6%
SCHA Schwab US Small-Cap ETF 0.08% 23,643 $554K Add +3.0%
MO Altria Group Inc. 0.07% 9,053 $543K Reduce -0.7%
PLTR Palantir Technologies Inc. Class A 0.07% 6,000 $506K Reduce -14.3%
GLD SPDR Gold Shares 0.07% 1,705 $491K Add +17.2%
APAM Artisan Partners Asset Ma -A 0.06% 11,475 $449K No change
PECO Phillips Edison & Company Inc. 0.05% 11,021 $402K Reduce -20.6%
OTTR Otter Tail Corp. 0.05% 5,000 $402K No change
USB US Bancorp 0.05% 8,816 $372K No change
NVS Novartis AG-Sponsored ADR 0.05% 3,331 $371K No change
EXC Exelon Corp. 0.05% 7,999 $369K No change
BAM Brookfield Asset Mgmt-A 0.05% 7,158 $347K No change
O Realty Income Corp. 0.04% 5,675 $329K Reduce -15.2%
LHX L3HARRIS Technologies Inc. 0.04% 1,568 $328K Add +15.0%
YUM Yum! Brands Inc. 0.04% 2,012 $317K No change
FDX FedEx Corp. 0.04% 1,207 $294K Add +4.3%
VIG Vanguard Dividend Apprec ETF 0.04% 1,464 $284K No change
QQQ Invesco QQQ Trust Series 1 0.04% 605 $284K No change
ISRG Intuitive Surgical Inc. 0.04% 571 $283K No change
MKC McCormick & Co.-Non VTG SHRS 0.04% 3,386 $279K No change
OGE Oge Energy Corp. 0.04% 6,000 $276K No change
SPGI S&P Global Inc. 0.04% 527 $268K Add +10.3%
BMY Bristol-Myers Squibb Co. 0.04% 4,364 $266K Reduce -5.4%
CSW CSW Industrials Inc. 0.04% 897 $261K No change
XLK SS Technology Select Sector 0.03% 1,242 $256K New
MWA Mueller Water Products Inc. Class A 0.03% 9,925 $252K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.03% 445 $249K Add +12.7%
BF.B Brown-Forman Corp. Class B 0.03% 7,039 $239K Add +12.7%
MFC Manulife Financial Corp. 0.03% 7,460 $232K Reduce -35.6%
SASR Sandy Spring Bancorp Inc. 0.03% 8,272 $231K No change
JNPR Juniper Networks Inc. 0.03% 6,200 $224K No change
UVSP Univest Financial Corp. 0.03% 7,679 $218K No change
HON Honeywell International Inc. 0.03% 973 $206K Add +9.4%
AVGO Broadcom Inc. 0.03% 1,223 $205K Reduce -1.5%
MAR Marriott International Class A 0.03% 857 $204K No change
IBDX iShares Ibonds Dec 2032 TC 0.03% 8,156 $204K No change
IBDY iShares Ibonds Dec 2033 Corp. 0.03% 7,953 $203K No change
BHRB Burke & Herbert Financial SE 0.03% 3,540 $199K Reduce -50.1%
SCHD Schwab US DVD Equity ETF 0.03% 6,749 $189K No change
BP BP PLC-Spons ADR 0.03% 5,513 $186K Reduce -24.1%
FMAO Farmers & Merchants Banco 0.02% 30 $173K No change
KMB Kimberly-Clark Corp. 0.02% 1,198 $170K No change
VTEB Vanguard Tax-Exempt Bond ETF 0.02% 3,305 $164K No change
CMCSA Comcast Corp. Class A 0.02% 4,352 $161K No change
BAH Booz Allen Hamilton Holdings 0.02% 1,400 $146K No change
EW Edwards Lifesciences Corp. 0.02% 1,929 $140K No change
TSLA Tesla Inc. 0.02% 516 $134K Add +5.3%

Portfolio Sells Q4 2024 → Q1 2025
SBUX Starbucks Corp. Sold out 0.00% −1.51
AAPL Apple Inc. Reduce -12.6% 5.06% −1.47
GNTX Gentex Corp. Reduce -9.2% 1.90% −0.68
NKE Nike Inc. Class B Sold out 0.00% −0.63
UPS United Parcel Service Class B Reduce -16.1% 0.92% −0.34
CNI Canadian Natl Railway Co. Reduce -17.3% 1.24% −0.32
ORCL Oracle Corp. Reduce -2.5% 1.38% −0.31
ULTA Ulta Beauty Inc. Reduce -1.9% 0.98% −0.21
GOOG Alphabet Inc. Class C Reduce -0.3% 0.74% −0.17
AXP American Express Co. Reduce -0.0% 0.89% −0.09
CEG Constellation Energy Reduce -12.3% 0.17% −0.04
META Meta Platforms Inc. Class A Reduce -1.5% 1.22% −0.04
PHM Pultegroup Inc. Reduce -0.7% 0.53% −0.04
BHRB Burke & Herbert Financial SE Reduce -50.1% 0.03% −0.03
MRK Merck & Co. Inc. Reduce -5.7% 0.18% −0.03
MET Metlife Inc. Sold out 0.00% −0.02
BN Brookfield Corp. Reduce -1.6% 0.16% −0.02
MFC Manulife Financial Corp. Reduce -35.6% 0.03% −0.02
PECO Phillips Edison & Company Inc. Reduce -20.6% 0.05% −0.02
SCHB Schwab US Broad Market ETF Reduce -0.7% 0.25% −0.02
PSA Public Storage Reduce -11.0% 0.11% −0.01
AVGO Broadcom Inc. Reduce -1.5% 0.03% −0.01
HRL Hormel Foods Corp. Reduce -4.2% 0.16% −0.01
PLD Prologis Inc. Reduce -10.3% 0.10% −0.01
SCHO Schwab Short-Term US Treas Sold out 0.00% −0.00
BP BP PLC-Spons ADR Reduce -24.1% 0.03% −0.00
O Realty Income Corp. Reduce -15.2% 0.04% −0.00
PLTR Palantir Technologies Inc. Class A Reduce -14.3% 0.07% −0.00
NSC Norfolk Southern Corp. Reduce -2.1% 0.08% −0.00
BND Vanguard Total Bond Market Reduce -1.8% 0.14% +0.00
BMY Bristol-Myers Squibb Co. Reduce -5.4% 0.04% +0.00
MO Altria Group Inc. Reduce -0.7% 0.07% +0.01
MDLZ Mondelez International Inc. Class A Reduce -2.7% 0.11% +0.01
WELL Welltower Inc. Reduce -1.0% 0.08% +0.01
ED Consolidated Edison Inc. Reduce -1.2% 0.13% +0.02
CVX Chevron Corp. Reduce -1.2% 0.28% +0.03
PM Philip Morris International Reduce -2.2% 0.18% +0.04
TSCO Tractor Supply Company Reduce -0.5% 1.33% +0.04
FAST Fastenal Co. Reduce -2.7% 1.08% +0.05
VSEC Vse Corp. Reduce -6.8% 0.39% +0.06
ADP Automatic Data Processing Reduce -1.2% 2.85% +0.08
PAYX Paychex Inc. Reduce -0.5% 1.38% +0.12
RTX RTX Corp. Reduce -1.1% 1.85% +0.21
BRK.B Berkshire Hathaway Inc. Class B Reduce -0.2% 15.84% +2.31

Portfolio Buys Q4 2024 → Q1 2025
GD General Dynamics Corp. Add +64.0% 2.35% +0.96
ADBE Adobe Inc. New 0.87% +0.87
NVDA Nvidia Corp. Add +1199.4% 0.74% +0.67
JNJ Johnson & Johnson Add +3.8% 3.51% +0.56
V Visa Inc. Class A Add +0.2% 3.20% +0.32
TXRH Texas Roadhouse Inc. Add +34.4% 1.40% +0.27
UNH Unitedhealth Group Inc. Add +5.2% 3.20% +0.26
MOH Molina Healthcare Inc. Add +4.8% 1.22% +0.19
KNSL Kinsale Capital Group Inc. Add +13.1% 1.03% +0.16
GPC Genuine Parts Co. Add +4.7% 1.98% +0.12
MA Mastercard Inc. Class A Add +0.4% 2.65% +0.11
CPAY Corpay Inc. Add +2.5% 1.60% +0.08
PEP Pepsico Inc. Add +5.0% 2.47% +0.08
TJX TJX Companies Inc. Add +1.0% 4.17% +0.07
SYK Stryker Corp. Add +5.9% 0.67% +0.06
LLY Eli Lilly & Co. Add +9.0% 0.31% +0.04
VTI VG Morningstar TS MKT ETF-US Add +15.6% 0.46% +0.04
XLK SS Technology Select Sector New 0.03% +0.03
ABBV Abbvie Inc. Add +0.4% 0.22% +0.03
ABT Abbott Laboratories Add +1.5% 0.16% +0.02
WEC WEC Energy Group Inc. Add +1.6% 0.14% +0.02
GLD SPDR Gold Shares Add +17.2% 0.07% +0.02
SCHR Schwab Intermediate-Term US Add +3.0% 0.38% +0.02
KO The Coca-Cola Co. Add +0.8% 0.12% +0.02
XOM Exxon Mobil Corp. Add +2.1% 0.13% +0.01
JPM JPMorgan Chase & Co. Add +3.3% 0.28% +0.01
MCD McDonald's Corp. Add +1.1% 0.16% +0.01
RMD Resmed Inc. Add +3.0% 1.43% +0.01
DUK Duke Energy Corp. Add +0.2% 0.08% +0.01
PG The Procter & Gamble Co. Add +0.8% 0.39% +0.01
COST Costco Wholesale Corp. Add +4.8% 0.10% +0.01
LHX L3HARRIS Technologies Inc. Add +15.0% 0.04% +0.01
VIGI Vanguard Int Div App Indx FD Add +1.9% 0.10% +0.01
D Dominion Energy Inc. Add +1.5% 0.09% +0.00
SPGI S&P Global Inc. Add +10.3% 0.04% +0.00
SPY SS SPDR S&P 500 ETF Trust-US Add +12.7% 0.03% +0.00
CTSH Cognizant Tech Solutions-A Add +0.7% 2.33% +0.00
ITW Illinois Tool Works Add +4.1% 0.10% +0.00
HON Honeywell International Inc. Add +9.4% 0.03% +0.00
BF.B Brown-Forman Corp. Class B Add +12.7% 0.03% +0.00
WMT Walmart Inc. Add +1.5% 0.15% −0.00
PFE Pfizer Inc. Add +1.7% 0.08% −0.00
SCHM Schwab US Mid Cap ETF Add +1.6% 0.08% −0.00
FDX FedEx Corp. Add +4.3% 0.04% −0.00
SCHA Schwab US Small-Cap ETF Add +3.0% 0.08% −0.01
TSLA Tesla Inc. Add +5.3% 0.02% −0.01
FDS Factset Research Systems Inc. Add +0.3% 0.75% −0.04
ACN Accenture PLC Class A Add +0.1% 1.27% −0.16
BKNG Booking Holdings Inc. Add +2.9% 4.12% −0.20
AMZN Amazon.com Inc. Add +2.6% 1.86% −0.23

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 134$765.5MBRK.B, AAPL, JNJ, TJX, GOOGL
Q1 2026 129$744.0MBRK.B, AAPL, TJX, JNJ, GOOGL
Q4 2025 124$784.5MBRK.B, GOOGL, AAPL, TJX, BKNG
Q3 2025 128$794.4MBRK.B, GOOGL, AAPL, TJX, BKNG
Q2 2025 129$748.4MBRK.B, BKNG, GOOGL, AAPL, TJX
Q1 2025 129$734.7MBRK.B, AAPL, GOOGL, TJX, BKNG
Q4 2024 131$733.7MBRK.B, AAPL, GOOGL, BKNG, TJX
Q3 2024 130$736.2MBRK.B, AAPL, GOOGL, TJX, BKNG
Q2 2024 131$695.9MBRK.B, AAPL, GOOGL, TJX, MSFT
Q1 2024 131$699.4MBRK.B, AAPL, GOOGL, TJX, MSFT