Hendershot Investments Inc.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 26, 2026), Hendershot Investments Inc. reported 124 stock positions worth $784.5 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 13.5% of the portfolio, followed by Alphabet Class A (GOOGL, 6.4%) and Apple (AAPL, 6.2%). Compared with Q3 2025, it opened 2 new positions, sold out of 6, added to 23 and reduced 52. The biggest buy was Procter & Gamble (PG, shares +418%) and the biggest sale an exit from Unitedhealth (UNH).

Most Recent 13F
Q2 2026
Location
CENTREVILLE, VA
CIK
0001541496
Portfolio Value
$784.5M (Q4 2025)
SEC Filing
0001541496-26-000002 ↗ filed Jan 26, 2026

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 Q1 2025 Q2 2025: $748.4M Q2 2025 Q3 2025: $794.4M Q3 2025 Q4 2025: $784.5M $784.5M Q4 2025 Q1 2026: $744.0M Q1 2026 Q2 2026: $765.5M Q2 2026

Holdings 124 stocks · $784.5M
BRK.B Berkshire Hathaway Inc. Class B 13.49% 210,484 $105.8M Reduce -1.3%
GOOGL Alphabet Inc. Class A 6.42% 160,989 $50.4M Reduce -21.9%
AAPL Apple Inc. 6.17% 177,985 $48.4M Reduce -2.2%
TJX TJX Companies Inc. filed as TJX COS INC NEW 4.78% 244,204 $37.5M Reduce -3.1%
BKNG Booking Holdings Inc. 4.43% 6,491 $34.8M Reduce -0.6%
JNJ Johnson & Johnson 4.18% 158,598 $32.8M Reduce -1.9%
MSFT Microsoft Corp. 3.96% 64,291 $31.1M Add +5.4%
V Visa Inc. Class A 3.39% 75,860 $26.6M Add +13.1%
GD General Dynamics Corp. 2.82% 65,721 $22.1M Reduce -2.2%
MA Mastercard Inc. Class A 2.62% 36,011 $20.6M Reduce -1.1%
ADP Automatic Data Processing 2.62% 79,898 $20.6M Add +16.2%
NVDA Nvidia Corp. 2.50% 105,059 $19.6M Reduce -1.4%
CTSH Cognizant Tech Solutions-A 2.48% 234,602 $19.5M Add +1.6%
PEP Pepsico Inc. 2.26% 123,636 $17.7M Add +1.3%
AMZN Amazon.com Inc. 2.23% 75,885 $17.5M Add +2.0%
GPC Genuine Parts Co. 1.97% 125,547 $15.4M Add +1.8%
RTX RTX Corp. 1.91% 81,542 $15.0M Reduce -5.0%
ROST Ross Stores Inc. 1.72% 74,761 $13.5M Reduce -4.0%
RMD Resmed Inc. 1.69% 55,094 $13.3M Add +14.7%
CPAY Corpay Inc. 1.68% 43,812 $13.2M Reduce -15.4%
PG The Procter & Gamble Co. 1.54% 84,109 $12.1M Add +418.3%
TXRH Texas Roadhouse Inc. 1.52% 72,006 $12.0M Reduce -0.1%
GNTX Gentex Corp. 1.31% 442,741 $10.3M Reduce -8.9%
GOOG Alphabet Inc. Class C 1.31% 32,750 $10.3M Reduce -6.0%
CNI Canadian Natl Railway Co. 1.30% 103,331 $10.2M Reduce -7.4%
ACN Accenture PLC Class A 1.27% 37,151 $10.0M Add +0.1%
AXP American Express Co. 1.13% 23,903 $8.8M Reduce -0.1%
TSCO Tractor Supply Company 1.10% 172,230 $8.6M Reduce -2.5%
KNSL Kinsale Capital Group Inc. 1.07% 21,533 $8.4M Add +9.8%
ORCL Oracle Corp. 1.07% 43,184 $8.4M Reduce -5.3%
PAYX Paychex Inc. 1.03% 71,845 $8.1M Add +14.8%
ADBE Adobe Inc. 0.99% 22,272 $7.8M Reduce -30.8%
FAST Fastenal Co. 0.95% 184,998 $7.4M Reduce -4.6%
META Meta Platforms Inc. Class A 0.71% 8,449 $5.6M Reduce -4.3%
SYK Stryker Corp. 0.64% 14,172 $5.0M Reduce -0.8%
FDS Factset Research Systems Inc. 0.56% 15,243 $4.4M Reduce -8.6%
VSEC Vse Corp. 0.53% 24,055 $4.2M No change
VTI VG Morningstar TS MKT ETF-US 0.52% 12,197 $4.1M Reduce -1.0%
BRK.A Berkshire Hathaway Inc. Class A 0.38% 4 $3.0M No change
SCHR Schwab Intermediate-Term US 0.36% 112,683 $2.8M Reduce -3.3%
ERIE Erie Indemnity Company Class A 0.35% 9,652 $2.8M Reduce -15.0%
LLY Eli Lilly & Co. 0.34% 2,455 $2.6M Reduce -3.4%
JPM JPMorgan Chase & Co. 0.30% 7,313 $2.4M Reduce -8.0%
SCHB Schwab US Broad Market ETF 0.29% 85,716 $2.2M Add +2.0%
CEG Constellation Energy 0.26% 5,701 $2.0M Reduce -0.3%
CVX Chevron Corp. 0.25% 12,711 $1.9M Add +0.4%
ABBV Abbvie Inc. 0.22% 7,678 $1.8M Reduce -0.3%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.21% 14,810 $1.7M Reduce -10.2%
BN Brookfield Corp. 0.19% 32,394 $1.5M Reduce -2.2%
MRK Merck & Co. Inc. 0.19% 13,870 $1.5M Reduce -3.0%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.18% 25,303 $1.4M Reduce -7.5%
WMT Walmart Inc. 0.17% 11,636 $1.3M Reduce -4.6%
MCD McDonald's Corp. 0.14% 3,703 $1.1M No change
BND Vanguard Total Bond Market 0.13% 14,162 $1.0M Add +2.0%
ABT Abbott Laboratories 0.13% 8,034 $1.0M Reduce -1.2%
PM Philip Morris International 0.12% 6,110 $980K Reduce -11.0%
TPL Texas Pacific Land Corp. 0.12% 3,411 $980K No change
XOM Exxon Mobil Corp. 0.12% 8,095 $974K Reduce -0.4%
WEC WEC Energy Group Inc. 0.12% 9,218 $972K No change
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.12% 7,874 $914K No change
VIGI Vanguard Int Div App Indx FD 0.11% 9,364 $856K Add +6.0%
TT Trane Technologies PLC 0.11% 2,194 $854K No change
ED Consolidated Edison Inc. 0.11% 8,398 $834K Reduce -2.1%
KO The Coca-Cola Co. 0.10% 11,779 $823K Reduce -1.4%
PLD Prologis Inc. 0.10% 6,260 $799K No change
OKE Oneok Inc. 0.10% 10,744 $790K Reduce -0.6%
D Dominion Energy Inc. 0.10% 12,818 $751K Add +12.1%
ITW Illinois Tool Works 0.09% 3,015 $743K No change
SCHA Schwab US Small-Cap ETF 0.09% 25,582 $729K Add +5.3%
PSA Public Storage 0.09% 2,765 $717K No change
NSC Norfolk Southern Corp. 0.09% 2,480 $716K No change
SCHM Schwab US Mid Cap ETF 0.09% 23,763 $715K Add +5.3%
GLD SPDR Gold Shares 0.08% 1,595 $632K No change
MDLZ Mondelez International Inc. Class A 0.08% 11,623 $626K Reduce -2.4%
COST Costco Wholesale Corp. 0.08% 708 $611K Add +1.6%
DUK Duke Energy Corp. 0.08% 5,153 $604K Reduce -5.3%
WELL Welltower Inc. 0.07% 3,126 $580K Reduce -3.7%
PLTR Palantir Technologies Inc. Class A 0.07% 3,100 $551K Reduce -11.4%
HD Home Depot Inc. 0.07% 1,517 $522K Add +0.5%
PFE Pfizer Inc. 0.07% 20,912 $521K Reduce -1.2%
TTE Totalenergies SE -Spon ADR 0.07% 7,945 $520K No change
APAM Artisan Partners Asset Ma -A 0.06% 11,475 $468K No change
USB US Bancorp 0.06% 8,716 $465K No change
NVS Novartis AG-Sponsored ADR 0.06% 3,331 $459K No change
MO Altria Group Inc. 0.06% 7,521 $434K Reduce -0.0%
LHX L3HARRIS Technologies Inc. 0.05% 1,453 $427K Reduce -1.0%
OTTR Otter Tail Corp. 0.05% 5,000 $404K No change
PECO Phillips Edison & Company Inc. 0.05% 11,021 $392K No change
AVGO Broadcom Inc. 0.05% 1,116 $386K Add +4.5%
BAM Brookfield Asset Mgmt-A 0.05% 7,158 $375K No change
QQQ Invesco QQQ Trust Series 1 0.05% 605 $372K No change
XLK SS Technology Select Sector 0.05% 2,484 $358K No change
FDX FedEx Corp. 0.04% 1,196 $345K Reduce -0.9%
EXC Exelon Corp. 0.04% 7,799 $340K No change
VIG Vanguard Dividend Apprec ETF 0.04% 1,479 $325K No change
O Realty Income Corp. 0.04% 5,675 $320K No change
YUM Yum! Brands Inc. 0.04% 2,012 $304K No change
GLW Corning Inc. 0.04% 3,443 $301K No change
SMH Vaneck Semiconductor ETF 0.04% 800 $288K No change
TSLA Tesla Inc. 0.04% 630 $283K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.03% 395 $269K No change
CSW CSW Industrials Inc. 0.03% 897 $263K No change
AUB Atlantic Union Bankshares Co. 0.03% 7,444 $263K No change
OGE Oge Energy Corp. 0.03% 6,000 $256K No change
GS Goldman Sachs Group Inc. 0.03% 290 $255K No change
UVSP Univest Financial Corp. 0.03% 7,679 $251K No change
FMAO Farmers & Merchants Banco 0.03% 30 $250K No change
SPGI S&P Global Inc. 0.03% 478 $250K No change
ISRG Intuitive Surgical Inc. 0.03% 418 $237K Add +4.2%
MWA Mueller Water Products Inc. Class A 0.03% 9,925 $236K No change
MKC McCormick & Co.-Non VTG SHRS 0.03% 3,386 $231K No change
SCHW Schwab (charles) Corp. 0.03% 2,165 $216K No change
MFC Manulife Financial Corp. 0.03% 5,960 $216K No change
COF Capital One Financial Corp. 0.03% 879 $213K New
MTG Mgic Investment Corp. 0.03% 7,232 $211K No change
IWP iShares Russell Mid-Cap Grow 0.03% 1,522 $208K No change
IBDX iShares Ibonds Dec 2032 TC 0.03% 8,156 $208K No change
IBDY iShares Ibonds Dec 2033 Corp. 0.03% 7,953 $208K No change
UNP Union Pacific Corp. 0.03% 876 $203K Reduce -21.4%
IVW iShares S&P 500 Growth ETF 0.03% 1,626 $200K New
SCHD Schwab US DVD Equity ETF 0.02% 6,749 $185K No change
HON Honeywell International Inc. 0.02% 816 $159K Reduce -13.3%
KMB Kimberly-Clark Corp. 0.02% 1,198 $121K No change
BAH Booz Allen Hamilton Holdings 0.02% 1,400 $118K No change

Portfolio Sells Q3 2025 → Q4 2025
UNH Unitedhealth Group Inc. Sold out 0.00% −1.48
MOH Molina Healthcare Inc. Sold out 0.00% −0.68
ORCL Oracle Corp. Reduce -5.3% 1.07% −0.54
ADBE Adobe Inc. Reduce -30.8% 0.99% −0.43
GNTX Gentex Corp. Reduce -8.9% 1.31% −0.42
FAST Fastenal Co. Reduce -4.6% 0.95% −0.25
CPAY Corpay Inc. Reduce -15.4% 1.68% −0.20
TSCO Tractor Supply Company Reduce -2.5% 1.10% −0.17
META Meta Platforms Inc. Class A Reduce -4.3% 0.71% −0.11
ERIE Erie Indemnity Company Class A Reduce -15.0% 0.35% −0.10
GD General Dynamics Corp. Reduce -2.2% 2.82% −0.06
FDS Factset Research Systems Inc. Reduce -8.6% 0.56% −0.04
SYK Stryker Corp. Reduce -0.8% 0.64% −0.03
IAU iShares Gold Trust Sold out 0.00% −0.03
DIS The Walt Disney Co. Reduce -10.2% 0.21% −0.02
CNI Canadian Natl Railway Co. Reduce -7.4% 1.30% −0.02
MAR Marriott International Class A Sold out 0.00% −0.02
EW Edwards Lifesciences Corp. Sold out 0.00% −0.02
CMCSA Comcast Corp. Class A Sold out 0.00% −0.02
PM Philip Morris International Reduce -11.0% 0.12% −0.02
JPM JPMorgan Chase & Co. Reduce -8.0% 0.30% −0.02
MDLZ Mondelez International Inc. Class A Reduce -2.4% 0.08% −0.01
BRK.B Berkshire Hathaway Inc. Class B Reduce -1.3% 13.49% −0.01
PLTR Palantir Technologies Inc. Class A Reduce -11.4% 0.07% −0.01
ABT Abbott Laboratories Reduce -1.2% 0.13% −0.01
SCHR Schwab Intermediate-Term US Reduce -3.3% 0.36% −0.01
DUK Duke Energy Corp. Reduce -5.3% 0.08% −0.01
MO Altria Group Inc. Reduce -0.0% 0.06% −0.01
UNP Union Pacific Corp. Reduce -21.4% 0.03% −0.01
BKNG Booking Holdings Inc. Reduce -0.6% 4.43% −0.01
HON Honeywell International Inc. Reduce -13.3% 0.02% −0.00
NVDA Nvidia Corp. Reduce -1.4% 2.50% −0.00
ED Consolidated Edison Inc. Reduce -2.1% 0.11% −0.00
LHX L3HARRIS Technologies Inc. Reduce -1.0% 0.05% −0.00
PFE Pfizer Inc. Reduce -1.2% 0.07% −0.00
BN Brookfield Corp. Reduce -2.2% 0.19% −0.00
ABBV Abbvie Inc. Reduce -0.3% 0.22% −0.00
BAC Bank of America Corp. Reduce -7.5% 0.18% −0.00
WELL Welltower Inc. Reduce -3.7% 0.07% +0.00
OKE Oneok Inc. Reduce -0.6% 0.10% +0.00
KO The Coca-Cola Co. Reduce -1.4% 0.10% +0.01
WMT Walmart Inc. Reduce -4.6% 0.17% +0.01
FDX FedEx Corp. Reduce -0.9% 0.04% +0.01
XOM Exxon Mobil Corp. Reduce -0.4% 0.12% +0.01
VTI VG Morningstar TS MKT ETF-US Reduce -1.0% 0.52% +0.01
MA Mastercard Inc. Class A Reduce -1.1% 2.62% +0.01
TXRH Texas Roadhouse Inc. Reduce -0.1% 1.52% +0.02
CEG Constellation Energy Reduce -0.3% 0.26% +0.02
MRK Merck & Co. Inc. Reduce -3.0% 0.19% +0.04
LLY Eli Lilly & Co. Reduce -3.4% 0.34% +0.09

Portfolio Buys Q3 2025 → Q4 2025
PG The Procter & Gamble Co. Add +418.3% 1.54% +1.22
CTSH Cognizant Tech Solutions-A Add +1.6% 2.48% +0.53
V Visa Inc. Class A Add +13.1% 3.39% +0.51
AMZN Amazon.com Inc. Add +2.0% 2.23% +0.18
ACN Accenture PLC Class A Add +0.1% 1.27% +0.12
PEP Pepsico Inc. Add +1.3% 2.26% +0.11
ADP Automatic Data Processing Add +16.2% 2.62% +0.08
RMD Resmed Inc. Add +14.7% 1.69% +0.04
PAYX Paychex Inc. Add +14.8% 1.03% +0.03
COF Capital One Financial Corp. New 0.03% +0.03
IVW iShares S&P 500 Growth ETF New 0.03% +0.03
KNSL Kinsale Capital Group Inc. Add +9.8% 1.07% +0.02
SCHB Schwab US Broad Market ETF Add +2.0% 0.29% +0.01
VIGI Vanguard Int Div App Indx FD Add +6.0% 0.11% +0.01
D Dominion Energy Inc. Add +12.1% 0.10% +0.01
ISRG Intuitive Surgical Inc. Add +4.2% 0.03% +0.01
SCHA Schwab US Small-Cap ETF Add +5.3% 0.09% +0.01
SCHM Schwab US Mid Cap ETF Add +5.3% 0.09% +0.01
AVGO Broadcom Inc. Add +4.5% 0.05% +0.00
BND Vanguard Total Bond Market Add +2.0% 0.13% +0.00
CVX Chevron Corp. Add +0.4% 0.25% −0.00
COST Costco Wholesale Corp. Add +1.6% 0.08% −0.00
HD Home Depot Inc. Add +0.5% 0.07% −0.01
MSFT Microsoft Corp. Add +5.4% 3.96% −0.01
GPC Genuine Parts Co. Add +1.8% 1.97% −0.18

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