Heritage Financial Services, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Heritage Financial Services, LLC reported 120 stock positions worth $1.0 billion. Its top holding was Vanguard Intermediate-Term T (VGIT) at 24.9% of the portfolio, followed by iShares Core MSCI Dev MKTS (IDEV, 21.7%) and Dimensional US Core Equity 2 (DFAC, 18.3%). Compared with Q4 2024, it opened 14 new positions, sold out of 11, added to 42 and reduced 46. The biggest buy was iShares Core MSCI Dev MKTS (IDEV, shares +2370%) and the biggest sale Dimensional US Core Equity 2 (DFAC, shares −8%).
- Most Recent 13F
- Q4 2025
- Location
- Westwood, MA
- CIK
- 0001752035
- Portfolio Value
- $1.0B (Q1 2025)
- SEC Filing
- 0001172661-25-001798 ↗ filed May 14, 2025
Holdings Value
Holdings 120 stocks · $1.0B
| VGIT Vanguard Intermediate-Term T | 24.88% | 4,231,512 | $251.4M | Add +51.6% |
| IDEV iShares Core MSCI Dev MKTS | 21.66% | 3,176,295 | $218.8M | Add +2370.1% |
| DFAC Dimensional US Core Equity 2 | 18.33% | 5,612,395 | $185.2M | Reduce -7.5% |
| JPIE JPMorgan Income ETF | 9.95% | 2,182,745 | $100.6M | Reduce -11.1% |
| DFEM Dimensional Emrg MRKT Core | 4.88% | 1,861,920 | $49.3M | Reduce -23.1% |
| USRT iShares Core US REIT ETF | 4.15% | 727,932 | $41.9M | Reduce -4.8% |
| ITOT iShares Core S&P Total U.S. | 1.70% | 140,894 | $17.2M | Reduce -2.6% |
| JPST JPMorgan Ultra-Short Income | 1.29% | 258,216 | $13.1M | Add +4.8% |
| DFSU Dimensional US Sus CORE1 ETF | 1.12% | 315,722 | $11.3M | Add +3.6% |
| AAPL Apple Inc. | 0.96% | 43,626 | $9.7M | Add +12.1% |
| AVUV Avantis US Small Cap Value | 0.94% | 108,935 | $9.5M | New |
| AGG iShares Core U.S. Aggregate | 0.70% | 72,003 | $7.1M | Reduce -7.5% |
| DFSI Dimensional Int Sus COR1 ETF | 0.59% | 172,182 | $6.0M | Reduce -3.1% |
| VTI VG Morningstar TS MKT ETF-US | 0.38% | 13,860 | $3.8M | Add +71.9% |
| MSFT Microsoft Corp. | 0.36% | 9,722 | $3.6M | Add +12.4% |
| DFAI Dimensional International Co. | 0.35% | 112,327 | $3.5M | Reduce -0.0% |
| IEMG iShares Core MSCI Emerging | 0.34% | 63,669 | $3.4M | Reduce -3.8% |
| NVDA Nvidia Corp. | 0.27% | 25,378 | $2.8M | Reduce -1.6% |
| PG The Procter & Gamble Co. | 0.24% | 14,386 | $2.5M | Reduce -0.8% |
| DFEV Dimensional Emrg MRKT Val | 0.23% | 87,476 | $2.4M | Reduce -31.3% |
| DFAE Dimensional Emerging Core Eq | 0.21% | 82,386 | $2.1M | Add +4.6% |
| DFSE Dimensional Em Sus CORE1 ETF | 0.20% | 60,881 | $2.1M | Reduce -17.6% |
| IVV iShares Core S&P 500 ETF | 0.18% | 3,265 | $1.8M | Reduce -0.7% |
| IWV iShares Russell 3000 ETF | 0.18% | 5,763 | $1.8M | Reduce -6.4% |
| MCD McDonald's Corp. | 0.17% | 5,656 | $1.8M | Reduce -0.7% |
| IVW iShares S&P 500 Growth ETF | 0.17% | 18,516 | $1.7M | Reduce -1.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.17% | 3,187 | $1.7M | Add +2.1% |
| VOO Vanguard S&P 500 ETF | 0.16% | 3,226 | $1.7M | Reduce -0.1% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.16% | 4,367 | $1.6M | Reduce -1.0% |
| IVE iShares S&P 500 Value ETF | 0.16% | 8,358 | $1.6M | No change |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.15% | 2,789 | $1.6M | Add +5.4% |
| LLY Eli Lilly & Co. | 0.15% | 1,886 | $1.6M | Add +3.6% |
| JNJ Johnson & Johnson | 0.15% | 9,385 | $1.6M | Add +3.2% |
| KO The Coca-Cola Co. | 0.15% | 20,598 | $1.5M | Reduce -0.5% |
| XOM Exxon Mobil Corp. | 0.15% | 12,352 | $1.5M | Reduce -1.9% |
| BND Vanguard Total Bond Market | 0.14% | 19,507 | $1.4M | Add +23.6% |
| COST Costco Wholesale Corp. | 0.14% | 1,452 | $1.4M | Reduce -1.6% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.12% | 25,324 | $1.3M | Reduce -0.1% |
| IWF iShares Russell 1000 Growth | 0.12% | 3,424 | $1.2M | Reduce -2.6% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.12% | 4,899 | $1.2M | Add +2.1% |
| AMZN Amazon.com Inc. | 0.12% | 6,265 | $1.2M | Add +21.8% |
| VXUS Vanguard Total Intl Stock | 0.11% | 17,829 | $1.1M | New |
| VEA Vanguard Ftse Developed ETF | 0.11% | 21,139 | $1.1M | Add +2.4% |
| AVGO Broadcom Inc. | 0.10% | 5,877 | $984K | Reduce -1.2% |
| BSX Boston Scientific Corp. | 0.09% | 9,388 | $947K | New |
| GOOG Alphabet Inc. Class C | 0.09% | 5,754 | $899K | Add +17.8% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.08% | 6,904 | $841K | Add +0.0% |
| NEE Nextera Energy Inc. | 0.08% | 11,617 | $824K | Reduce -1.8% |
| SDY SS SPDR S&P Dividend ETF | 0.08% | 6,015 | $816K | No change |
| ABBV Abbvie Inc. | 0.08% | 3,683 | $772K | Add +4.0% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.07% | 2,630 | $680K | Add +2.5% |
| VIG Vanguard Dividend Apprec ETF | 0.07% | 3,481 | $675K | Add +10.7% |
| ADI Analog Devices Inc. | 0.07% | 3,317 | $669K | Add +1.6% |
| GOOGL Alphabet Inc. Class A | 0.07% | 4,259 | $659K | Add +23.3% |
| AMAT Applied Materials Inc. | 0.06% | 4,514 | $655K | No change |
| JPM JPMorgan Chase & Co. | 0.06% | 2,581 | $633K | Reduce -3.1% |
| DXJ Wisdomtree Japan Hedged Eq | 0.06% | 5,536 | $610K | No change |
| PAYX Paychex Inc. | 0.06% | 3,932 | $607K | New |
| ES Eversource Energy | 0.06% | 9,432 | $586K | No change |
| UNH Unitedhealth Group Inc. | 0.06% | 1,071 | $561K | Reduce -11.3% |
| VGT Vanguard Info Tech ETF | 0.05% | 1,013 | $549K | Add +37.1% |
| CVX Chevron Corp. | 0.05% | 3,172 | $531K | Reduce -12.5% |
| HD Home Depot Inc. | 0.05% | 1,437 | $526K | Reduce -8.2% |
| IWB iShares Russell 1000 ETF | 0.05% | 1,716 | $526K | Reduce -2.8% |
| ABT Abbott Laboratories | 0.05% | 3,941 | $523K | Add +3.0% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.05% | 3,012 | $520K | Reduce -8.5% |
| META Meta Platforms Inc. Class A | 0.05% | 898 | $518K | Add +62.4% |
| AVUS Avantis U.S. Equity ETF | 0.05% | 5,573 | $515K | No change |
| IUSG iShares Core S&P U.S. Growth | 0.05% | 3,953 | $502K | No change |
| SCHX Schwab US Large-Cap ETF | 0.05% | 22,274 | $492K | Reduce -28.7% |
| IWD iShares Russell 1000 Value E | 0.05% | 2,585 | $486K | Reduce -4.0% |
| MUB iShares National Muni Bond E | 0.05% | 4,599 | $485K | Reduce -23.4% |
| MFC Manulife Financial Corp. | 0.05% | 15,107 | $471K | New |
| SCHB Schwab US Broad Market ETF | 0.05% | 21,213 | $457K | No change |
| TOTL SS Doubleline TR Tact ETF | 0.04% | 11,251 | $453K | Add +66.1% |
| MRK Merck & Co. Inc. | 0.04% | 4,875 | $438K | Add +1.4% |
| TRMB Trimble Inc. | 0.04% | 6,571 | $431K | Reduce -17.5% |
| SCHH Schwab US REIT ETF | 0.04% | 19,422 | $418K | Add +3.1% |
| SPTI SS SPDR P Int Term TSY ETF | 0.04% | 12,902 | $369K | Reduce -37.5% |
| QQQ Invesco QQQ Trust Series 1 | 0.04% | 756 | $355K | Reduce -3.3% |
| AXP American Express Co. | 0.03% | 1,311 | $353K | No change |
| IWM iShares Russell 2000 ETF | 0.03% | 1,747 | $348K | No change |
| DFIV Dimensional International Va | 0.03% | 8,646 | $340K | Reduce -31.6% |
| VWO Vanguard Ftse Emerging Marke | 0.03% | 7,319 | $331K | Reduce -40.3% |
| TPL Texas Pacific Land Corp. | 0.03% | 246 | $326K | No change |
| CAT Caterpillar Inc. | 0.03% | 979 | $323K | Add +2.9% |
| V Visa Inc. Class A | 0.03% | 903 | $316K | Add +12.2% |
| CSCO Cisco Systems Inc. | 0.03% | 5,012 | $309K | Add +14.7% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.03% | 7,342 | $306K | Add +0.4% |
| T AT&T Inc. | 0.03% | 10,259 | $290K | Add +16.0% |
| ADP Automatic Data Processing | 0.03% | 936 | $286K | Add +10.5% |
| VZ Verizon Communications Inc. | 0.03% | 6,202 | $281K | Reduce -9.0% |
| DVY iShares Select Dividend ETF | 0.03% | 2,089 | $281K | Add +6.0% |
| IEFA iShares Core MSCI Eafe ETF | 0.03% | 3,700 | $280K | New |
| QCOM Qualcomm Inc. | 0.03% | 1,813 | $279K | Reduce -1.3% |
| AFL Aflac Inc. | 0.03% | 2,414 | $268K | No change |
| IJH iShares Core S&P Midcap ETF | 0.03% | 4,593 | $268K | Reduce -23.1% |
| WMT Walmart Inc. | 0.03% | 2,997 | $263K | Add +4.1% |
| LOW Lowe's Cos Inc. | 0.03% | 1,120 | $261K | Add +3.7% |
| CVS CVS Health Corp. | 0.03% | 3,828 | $259K | New |
Portfolio Sells Q4 2024 → Q1 2025
| DFAC Dimensional US Core Equity 2 | Reduce -7.5% | 18.33% | −9.55 |
| JPIE JPMorgan Income ETF | Reduce -11.1% | 9.95% | −4.92 |
| DFEM Dimensional Emrg MRKT Core | Reduce -23.1% | 4.88% | −3.55 |
| USRT iShares Core US REIT ETF | Reduce -4.8% | 4.15% | −1.67 |
| ITOT iShares Core S&P Total U.S. | Reduce -2.6% | 1.70% | −0.77 |
| AGG iShares Core U.S. Aggregate | Reduce -7.5% | 0.70% | −0.30 |
| DFEV Dimensional Emrg MRKT Val | Reduce -31.3% | 0.23% | −0.21 |
| NVDA Nvidia Corp. | Reduce -1.6% | 0.27% | −0.19 |
| DFSI Dimensional Int Sus COR1 ETF | Reduce -3.1% | 0.59% | −0.18 |
| DFSE Dimensional Em Sus CORE1 ETF | Reduce -17.6% | 0.20% | −0.12 |
| IEMG iShares Core MSCI Emerging | Reduce -3.8% | 0.34% | −0.12 |
| IWV iShares Russell 3000 ETF | Reduce -6.4% | 0.18% | −0.09 |
| DFAI Dimensional International Co. | Reduce -0.0% | 0.35% | −0.09 |
| AVGO Broadcom Inc. | Reduce -1.2% | 0.10% | −0.09 |
| IVW iShares S&P 500 Growth ETF | Reduce -1.8% | 0.17% | −0.08 |
| PG The Procter & Gamble Co. | Reduce -0.8% | 0.24% | −0.08 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -1.0% | 0.16% | −0.08 |
| IVV iShares Core S&P 500 ETF | Reduce -0.7% | 0.18% | −0.08 |
| VOO Vanguard S&P 500 ETF | Reduce -0.1% | 0.16% | −0.07 |
| IWF iShares Russell 1000 Growth | Reduce -2.6% | 0.12% | −0.07 |
| VYM Vanguard High DVD Yield ETF | Reduce -65.9% | 0.02% | −0.06 |
| SCHX Schwab US Large-Cap ETF | Reduce -28.7% | 0.05% | −0.05 |
| MCD McDonald's Corp. | Reduce -0.7% | 0.17% | −0.04 |
| VTEB Vanguard Tax-Exempt Bond ETF | Reduce -0.1% | 0.12% | −0.04 |
| COST Costco Wholesale Corp. | Reduce -1.6% | 0.14% | −0.04 |
| SPTI SS SPDR P Int Term TSY ETF | Reduce -37.5% | 0.04% | −0.04 |
| VWO Vanguard Ftse Emerging Marke | Reduce -40.3% | 0.03% | −0.04 |
| HON Honeywell International Inc. | Sold out | 0.00% | −0.04 |
| MUB iShares National Muni Bond E | Reduce -23.4% | 0.05% | −0.04 |
| IJJ iShares S&P Mid-Cap 400 Valu | Sold out | 0.00% | −0.04 |
| IJK iShares S&P Mid-Cap 400 Grow | Sold out | 0.00% | −0.04 |
| XOM Exxon Mobil Corp. | Reduce -1.9% | 0.15% | −0.03 |
| VHT Vanguard Health Care ETF | Sold out | 0.00% | −0.03 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Sold out | 0.00% | −0.03 |
| TRMB Trimble Inc. | Reduce -17.5% | 0.04% | −0.03 |
| NEE Nextera Energy Inc. | Reduce -1.8% | 0.08% | −0.03 |
| IJS iShares S&P Small-Cap 600 Va | Sold out | 0.00% | −0.03 |
| IJT iShares S&P Small-Cap 600 GR | Sold out | 0.00% | −0.03 |
| HD Home Depot Inc. | Reduce -8.2% | 0.05% | −0.03 |
| PEP Pepsico Inc. | Sold out | 0.00% | −0.03 |
| PFE Pfizer Inc. | Sold out | 0.00% | −0.03 |
| TSLA Tesla Inc. | Sold out | 0.00% | −0.03 |
| ORCL Oracle Corp. | Sold out | 0.00% | −0.03 |
| DFIV Dimensional International Va | Reduce -31.6% | 0.03% | −0.03 |
| UNH Unitedhealth Group Inc. | Reduce -11.3% | 0.06% | −0.03 |
| KO The Coca-Cola Co. | Reduce -0.5% | 0.15% | −0.03 |
| IWB iShares Russell 1000 ETF | Reduce -2.8% | 0.05% | −0.02 |
| IJH iShares Core S&P Midcap ETF | Reduce -23.1% | 0.03% | −0.02 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -8.5% | 0.05% | −0.02 |
| JPM JPMorgan Chase & Co. | Reduce -3.1% | 0.06% | −0.02 |
Portfolio Buys Q4 2024 → Q1 2025
| IDEV iShares Core MSCI Dev MKTS | Add +2370.1% | 21.66% | +20.56 |
| VGIT Vanguard Intermediate-Term T | Add +51.6% | 24.88% | +3.38 |
| AVUV Avantis US Small Cap Value | New | 0.94% | +0.94 |
| VXUS Vanguard Total Intl Stock | New | 0.11% | +0.11 |
| BSX Boston Scientific Corp. | New | 0.09% | +0.09 |
| VTI VG Morningstar TS MKT ETF-US | Add +71.9% | 0.38% | +0.07 |
| PAYX Paychex Inc. | New | 0.06% | +0.06 |
| MFC Manulife Financial Corp. | New | 0.05% | +0.05 |
| IEFA iShares Core MSCI Eafe ETF | New | 0.03% | +0.03 |
| CVS CVS Health Corp. | New | 0.03% | +0.03 |
| RTX RTX Corp. | New | 0.02% | +0.02 |
| BNDX Vanguard Total Intl Bond ETF | New | 0.02% | +0.02 |
| UNP Union Pacific Corp. | New | 0.02% | +0.02 |
| MMM 3M Co. | New | 0.02% | +0.02 |
| ROP Roper Technologies Inc. | New | 0.02% | +0.02 |
| SPLV Invesco S&P 500 Low Volatili | New | 0.02% | +0.02 |
| TOTL SS Doubleline TR Tact ETF | Add +66.1% | 0.04% | +0.01 |
| META Meta Platforms Inc. Class A | Add +62.4% | 0.05% | +0.01 |
| T AT&T Inc. | Add +16.0% | 0.03% | +0.00 |
| VERU Veru Inc. | New | 0.00% | +0.00 |
| V Visa Inc. Class A | Add +12.2% | 0.03% | −0.00 |
| IWR iShares Russell Mid-Cap ETF | Add +25.8% | 0.03% | −0.00 |
| TMO Thermo Fisher Scientific Inc. | Add +24.3% | 0.03% | −0.00 |
| CSCO Cisco Systems Inc. | Add +14.7% | 0.03% | −0.00 |
| ADP Automatic Data Processing | Add +10.5% | 0.03% | −0.00 |
| VXF Vanguard Extended Market ETF | Add +20.3% | 0.02% | −0.01 |
| ABT Abbott Laboratories | Add +3.0% | 0.05% | −0.01 |
| DVY iShares Select Dividend ETF | Add +6.0% | 0.03% | −0.01 |
| VGT Vanguard Info Tech ETF | Add +37.1% | 0.05% | −0.01 |
| ABBV Abbvie Inc. | Add +4.0% | 0.08% | −0.01 |
| BA The Boeing Co. | Add +4.2% | 0.02% | −0.01 |
| WMT Walmart Inc. | Add +4.1% | 0.03% | −0.01 |
| BND Vanguard Total Bond Market | Add +23.6% | 0.14% | −0.01 |
| LOW Lowe's Cos Inc. | Add +3.7% | 0.03% | −0.01 |
| SCHH Schwab US REIT ETF | Add +3.1% | 0.04% | −0.01 |
| BAC Bank of America Corp. | Add +0.4% | 0.03% | −0.01 |
| CAT Caterpillar Inc. | Add +2.9% | 0.03% | −0.01 |
| VIG Vanguard Dividend Apprec ETF | Add +10.7% | 0.07% | −0.01 |
| IBM Intl Business Machines Corp. | Add +2.1% | 0.12% | −0.02 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +2.1% | 0.17% | −0.02 |
| MRK Merck & Co. Inc. | Add +1.4% | 0.04% | −0.02 |
| JNJ Johnson & Johnson | Add +3.2% | 0.15% | −0.02 |
| GOOGL Alphabet Inc. Class A | Add +23.3% | 0.07% | −0.02 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +2.5% | 0.07% | −0.02 |
| VEA Vanguard Ftse Developed ETF | Add +2.4% | 0.11% | −0.02 |
| ADI Analog Devices Inc. | Add +1.6% | 0.07% | −0.03 |
| TJX TJX Companies Inc. | Add +0.0% | 0.08% | −0.03 |
| AMZN Amazon.com Inc. | Add +21.8% | 0.12% | −0.03 |
| LLY Eli Lilly & Co. | Add +3.6% | 0.15% | −0.03 |
| GOOG Alphabet Inc. Class C | Add +17.8% | 0.09% | −0.03 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q4 2025 | 126 | $1.2B | VGIT, IDEV, DFAC, JPIE, DFEM |
| Q3 2025 | 134 | $1.1B | VGIT, IDEV, DFAC, JPIE, DFEM |
| Q2 2025 | 125 | $1.0B | VGIT, IDEV, DFAC, JPIE, DFEM |
| Q1 2025 | 120 | $1.0B | VGIT, IDEV, DFAC, JPIE, DFEM |
| Q4 2024 | 117 | $753.0M | DFAC, VGIT, JPIE, DFEM, USRT |
| Q3 2024 | 110 | $752.1M | DFAC, VGIT, JPIE, DFEM, USRT |
| Q2 2024 | 105 | $697.1M | DFAC, VGIT, JPIE, DFEM, USRT |
| Q1 2024 | 104 | $672.1M | DFAC, VGIT, JPIE, DFEM, USRT |