Heritage Financial Services, LLC

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 30, 2025), Heritage Financial Services, LLC reported 134 stock positions worth $1.1 billion. Its top holding was Vanguard Intermediate-Term T (VGIT) at 23.8% of the portfolio, followed by iShares Core MSCI Dev MKTS (IDEV, 23.2%) and Dimensional US Core Equity 2 (DFAC, 16.0%). Compared with Q2 2025, it opened 16 new positions, sold out of 7, added to 45 and reduced 54. The biggest buy was iShares Core MSCI Dev MKTS (IDEV, shares +2%) and the biggest sale Dimensional US Core Equity 2 (DFAC, shares −1%).

Most Recent 13F
Q4 2025
Location
Westwood, MA
CIK
0001752035
Portfolio Value
$1.1B (Q3 2025)
SEC Filing
0001172661-25-004494 ↗ filed Oct 30, 2025

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $672.1M Q1 2024 Q2 2024: $697.1M Q2 2024 Q3 2024: $752.1M Q3 2024 Q4 2024: $753.0M Q4 2024 Q1 2025: $1.0B Q1 2025 Q2 2025: $1.0B Q2 2025 Q3 2025: $1.1B $1.1B Q3 2025 Q4 2025: $1.2B Q4 2025

Holdings 134 stocks · $1.1B
VGIT Vanguard Intermediate-Term T 23.79% 4,409,449 $264.7M Add +4.4%
IDEV iShares Core MSCI Dev MKTS 23.22% 3,222,057 $258.3M Add +2.3%
DFAC Dimensional US Core Equity 2 16.02% 4,621,024 $178.2M Reduce -1.1%
JPIE JPMorgan Income ETF 9.62% 2,305,382 $107.0M Add +4.5%
DFEM Dimensional Emrg MRKT Core 5.16% 1,790,493 $57.4M Reduce -1.9%
USRT iShares Core US REIT ETF 4.11% 778,350 $45.7M Add +5.3%
ITOT iShares Core S&P Total U.S. 1.72% 131,374 $19.1M Reduce -1.9%
AVUV Avantis US Small Cap Value 1.61% 179,957 $17.9M Add +7.1%
DFSU Dimensional US Sus CORE1 ETF 1.29% 338,010 $14.4M Reduce -0.4%
JPST JPMorgan Ultra-Short Income 1.18% 259,107 $13.1M Add +1.1%
AAPL Apple Inc. 0.96% 41,904 $10.7M Add +2.9%
AGG iShares Core U.S. Aggregate 0.71% 78,447 $7.9M Add +13.8%
NVDA Nvidia Corp. 0.69% 40,884 $7.6M Reduce -2.9%
DFSI Dimensional Int Sus COR1 ETF 0.63% 171,850 $7.0M Reduce -0.9%
MSFT Microsoft Corp. 0.43% 9,144 $4.7M Reduce -0.7%
DFAI Dimensional International Co. 0.41% 126,324 $4.6M Add +9.7%
IEMG iShares Core MSCI Emerging 0.33% 55,238 $3.6M Reduce -4.7%
VTI VG Morningstar TS MKT ETF-US 0.31% 10,658 $3.5M Reduce -12.0%
DFAE Dimensional Emerging Core Eq 0.27% 94,825 $3.0M Add +14.3%
AVGO Broadcom Inc. 0.24% 8,226 $2.7M Add +12.2%
DFEV Dimensional Emrg MRKT Val 0.24% 84,340 $2.7M Reduce -1.9%
VOO Vanguard S&P 500 ETF 0.24% 4,325 $2.6M Add +7.7%
SPY SS SPDR S&P 500 ETF Trust-US 0.23% 3,789 $2.5M Add +31.3%
DFSE Dimensional Em Sus CORE1 ETF 0.22% 58,856 $2.4M Reduce -3.2%
IVV iShares Core S&P 500 ETF 0.21% 3,563 $2.4M Add +0.0%
IVW iShares S&P 500 Growth ETF 0.20% 18,538 $2.2M Reduce -2.8%
PG The Procter & Gamble Co. 0.20% 14,422 $2.2M Reduce -0.1%
VUG Vanguard Mrngstar GR ETF-Sui 0.20% 4,617 $2.2M Add +1.7%
IWV iShares Russell 3000 ETF 0.18% 5,395 $2.0M Reduce -2.6%
IWF iShares Russell 1000 Growth 0.17% 4,098 $1.9M Add +8.1%
BRK.B Berkshire Hathaway Inc. Class B 0.16% 3,527 $1.8M Add +23.8%
MCD McDonald's Corp. 0.16% 5,751 $1.7M Add +1.2%
IVE iShares S&P 500 Value ETF 0.16% 8,411 $1.7M Reduce -0.6%
JNJ Johnson & Johnson 0.15% 8,776 $1.6M Reduce -2.2%
LLY Eli Lilly & Co. 0.13% 1,827 $1.4M Reduce -1.7%
KO The Coca-Cola Co. 0.12% 20,538 $1.4M Reduce -1.1%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.12% 4,816 $1.4M Reduce -0.4%
XOM Exxon Mobil Corp. 0.12% 11,923 $1.3M Reduce -1.5%
COST Costco Wholesale Corp. 0.12% 1,449 $1.3M Reduce -0.6%
AMZN Amazon.com Inc. 0.11% 5,646 $1.2M Reduce -10.5%
GOOG Alphabet Inc. Class C 0.10% 4,749 $1.2M Add +1.1%
VEA Vanguard Ftse Developed ETF 0.10% 19,207 $1.2M Reduce -10.8%
BND Vanguard Total Bond Market 0.09% 13,550 $1.0M Add +0.4%
VTEB Vanguard Tax-Exempt Bond ETF 0.09% 19,257 $964K Reduce -1.1%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.09% 6,642 $960K Reduce -4.1%
AMAT Applied Materials Inc. 0.08% 4,542 $930K Add +0.8%
JPM JPMorgan Chase & Co. 0.08% 2,831 $893K Add +13.7%
ABBV Abbvie Inc. 0.08% 3,819 $884K Add +13.2%
NEE Nextera Energy Inc. 0.08% 11,313 $854K Reduce -4.2%
SDY SS SPDR S&P Dividend ETF 0.08% 6,015 $842K Reduce -1.1%
GOOGL Alphabet Inc. Class A 0.07% 3,334 $810K Add +4.1%
VTV Vanguard Mrngstr Val ETF-Aui 0.07% 4,342 $810K Add +8.4%
IAU iShares Gold Trust 0.07% 11,065 $805K New
IWB iShares Russell 1000 ETF 0.07% 2,146 $784K Add +19.3%
ADI Analog Devices Inc. 0.07% 3,145 $773K Reduce -0.3%
VIG Vanguard Dividend Apprec ETF 0.07% 3,553 $767K Add +2.1%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.06% 2,460 $723K Add +1.7%
DXJ Wisdomtree Japan Hedged Eq 0.06% 5,536 $709K No change
HD Home Depot Inc. 0.06% 1,748 $708K Add +12.6%
ES Eversource Energy 0.06% 9,441 $672K Add +0.1%
IUSG iShares Core S&P U.S. Growth 0.06% 3,953 $650K No change
GLD SPDR Gold Shares 0.06% 1,785 $635K New
VYM Vanguard High DVD Yield ETF 0.06% 4,370 $616K Add +149.9%
AVUS Avantis U.S. Equity ETF 0.05% 5,573 $606K No change
SCHX Schwab US Large-Cap ETF 0.05% 22,274 $587K No change
IGOV iShares International Treasu 0.05% 13,546 $577K New
SCHB Schwab US Broad Market ETF 0.05% 21,613 $556K Reduce -0.7%
AXP American Express Co. 0.05% 1,603 $532K Add +6.9%
VGT Vanguard Info Tech ETF 0.05% 705 $526K Reduce -7.8%
PAYX Paychex Inc. 0.04% 3,934 $499K Add +0.1%
ABT Abbott Laboratories 0.04% 3,678 $493K Reduce -2.1%
CVX Chevron Corp. 0.04% 3,152 $489K Add +4.5%
MUB iShares National Muni Bond E 0.04% 4,567 $486K No change
MFC Manulife Financial Corp. 0.04% 15,107 $471K No change
IWD iShares Russell 1000 Value E 0.04% 2,306 $469K No change
IEFA iShares Core MSCI Eafe ETF 0.04% 5,330 $465K No change
META Meta Platforms Inc. Class A 0.04% 627 $460K Reduce -28.3%
QQQ Invesco QQQ Trust Series 1 0.04% 743 $446K Reduce -12.7%
MRK Merck & Co. Inc. 0.04% 5,257 $441K Reduce -44.6%
V Visa Inc. Class A 0.04% 1,283 $438K Reduce -47.6%
TRMB Trimble Inc. 0.04% 5,341 $436K No change
IWM iShares Russell 2000 ETF 0.04% 1,802 $436K Add +0.9%
CAT Caterpillar Inc. 0.04% 911 $435K Add +0.2%
TOTL SS Doubleline TR Tact ETF 0.04% 10,521 $427K No change
DFIV Dimensional International Va 0.04% 8,646 $399K No change
SCHH Schwab US REIT ETF 0.04% 18,456 $398K Reduce -0.4%
TSLA Tesla Inc. 0.03% 861 $383K New
P Everpure Inc. Class A filed as PURE STORAGE INC 0.03% 4,522 $379K No change
SPTI SS SPDR P Int Term TSY ETF 0.03% 12,902 $373K No change
VXUS Vanguard Total Intl Stock 0.03% 5,036 $370K Add +9.5%
TPL Texas Pacific Land Corp. 0.03% 396 $370K Add +61.0%
RTX RTX Corp. 0.03% 2,184 $365K Add +13.8%
SHW The Sherwin-Williams Co. 0.03% 963 $333K New
VWO Vanguard Ftse Emerging Marke 0.03% 6,114 $331K Reduce -11.7%
UNH Unitedhealth Group Inc. 0.03% 959 $331K Reduce -10.4%
ISHG iShares -3 Year Internationa 0.03% 4,252 $324K New
WMT Walmart Inc. 0.03% 3,011 $310K Add +0.5%
QUIK Quicklogic Corp. 0.03% 50,000 $303K New
QCOM Qualcomm Inc. 0.03% 1,808 $301K Reduce -22.8%
BSX Boston Scientific Corp. 0.03% 3,009 $294K New
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.03% 5,686 $293K Reduce -14.1%
DVY iShares Select Dividend ETF 0.03% 2,064 $293K No change
VXF Vanguard Extended Market ETF 0.03% 1,391 $291K Add +0.1%
GE General Electric filed as GE AEROSPACE 0.03% 960 $289K Reduce -2.4%
BA The Boeing Co. 0.03% 1,337 $289K Add +5.9%
TT Trane Technologies PLC 0.03% 669 $282K Reduce -5.8%
CSCO Cisco Systems Inc. 0.03% 4,101 $281K Reduce -8.9%
T AT&T Inc. 0.02% 9,791 $277K Reduce -29.6%
VZ Verizon Communications Inc. 0.02% 6,228 $274K Reduce -30.1%
ADP Automatic Data Processing 0.02% 932 $274K Reduce -0.5%
AFL Aflac Inc. 0.02% 2,414 $270K No change
IDXX Idexx Laboratories Inc. 0.02% 409 $261K Reduce -0.5%
SCHD Schwab US DVD Equity ETF 0.02% 9,507 $260K Add +18.3%
IWR iShares Russell Mid-Cap ETF 0.02% 2,677 $258K Reduce -14.4%
ORCL Oracle Corp. 0.02% 893 $251K New
VPU Vanguard Utilities ETF 0.02% 1,314 $249K No change
IJR iShares Core S&P Small-Cap E 0.02% 2,094 $249K Reduce -0.5%
LOW Lowe's Cos Inc. 0.02% 982 $247K Reduce -13.6%
VT Vanguard Tot World STK ETF 0.02% 1,755 $242K Reduce -0.5%
UNP Union Pacific Corp. 0.02% 971 $230K Add +10.0%
RWL Invesco S&P 500 Revenue ETF 0.02% 1,996 $221K Reduce -20.8%
HON Honeywell International Inc. 0.02% 1,042 $219K Add +0.1%
GLW Corning Inc. 0.02% 2,652 $218K New
IJH iShares Core S&P Midcap ETF 0.02% 3,301 $215K New
SYK Stryker Corp. 0.02% 578 $214K New
ETN Eaton Corp. PLC 0.02% 566 $212K Reduce -10.7%
MGK Vngrd Mrgstr MG CP GR ETF-Ui 0.02% 525 $211K New
TRV The Travelers Cos Inc. 0.02% 752 $210K No change
PEP Pepsico Inc. 0.02% 1,477 $207K New
CBT Cabot Corp. 0.02% 2,707 $206K No change
MMM 3M Co. 0.02% 1,320 $205K Reduce -0.5%
VOOG Vanguard S&P 500 Growth ETF 0.02% 464 $202K New
PHYS Sprott Physical Gold Trust 0.02% 6,790 $201K New
AIRJ Airjoule Technologies Corp. 0.01% 12,375 $58K No change

Portfolio Sells Q2 2025 → Q3 2025
DFAC Dimensional US Core Equity 2 Reduce -1.1% 16.02% −0.10
DFEM Dimensional Emrg MRKT Core Reduce -1.9% 5.16% −0.05
V Visa Inc. Class A Reduce -47.6% 0.04% −0.04
VTI VG Morningstar TS MKT ETF-US Reduce -12.0% 0.31% −0.04
MRK Merck & Co. Inc. Reduce -44.6% 0.04% −0.03
DFSI Dimensional Int Sus COR1 ETF Reduce -0.9% 0.63% −0.03
CI The Cigna Group Sold out 0.00% −0.02
AMGN Amgen Inc. Sold out 0.00% −0.02
PG The Procter & Gamble Co. Reduce -0.1% 0.20% −0.02
AMZN Amazon.com Inc. Reduce -10.5% 0.11% −0.02
AMD Advanced Micro Devices Sold out 0.00% −0.02
META Meta Platforms Inc. Class A Reduce -28.3% 0.04% −0.02
ITOT iShares Core S&P Total U.S. Reduce -1.9% 1.72% −0.02
SCHJ Schwab 1-5 YR Corp. BND ETF Sold out 0.00% −0.02
ROP Roper Technologies Inc. Sold out 0.00% −0.02
TXN Texas Instruments Inc. Sold out 0.00% −0.02
KO The Coca-Cola Co. Reduce -1.1% 0.12% −0.02
COST Costco Wholesale Corp. Reduce -0.6% 0.12% −0.02
MSFT Microsoft Corp. Reduce -0.7% 0.43% −0.02
IBM Intl Business Machines Corp. Reduce -0.4% 0.12% −0.02
VEA Vanguard Ftse Developed ETF Reduce -10.8% 0.10% −0.01
LLY Eli Lilly & Co. Reduce -1.7% 0.13% −0.01
T AT&T Inc. Reduce -29.6% 0.02% −0.01
VZ Verizon Communications Inc. Reduce -30.1% 0.02% −0.01
QCOM Qualcomm Inc. Reduce -22.8% 0.03% −0.01
IEMG iShares Core MSCI Emerging Reduce -4.7% 0.33% −0.01
DFEV Dimensional Emrg MRKT Val Reduce -1.9% 0.24% −0.01
RWL Invesco S&P 500 Revenue ETF Reduce -20.8% 0.02% −0.01
DFSE Dimensional Em Sus CORE1 ETF Reduce -3.2% 0.22% −0.01
VTEB Vanguard Tax-Exempt Bond ETF Reduce -1.1% 0.09% −0.01
QQQ Invesco QQQ Trust Series 1 Reduce -12.7% 0.04% −0.01
ABT Abbott Laboratories Reduce -2.1% 0.04% −0.00
CSCO Cisco Systems Inc. Reduce -8.9% 0.03% −0.00
XOM Exxon Mobil Corp. Reduce -1.5% 0.12% −0.00
IWR iShares Russell Mid-Cap ETF Reduce -14.4% 0.02% −0.00
TT Trane Technologies PLC Reduce -5.8% 0.03% −0.00
BAC Bank of America Corp. Reduce -14.1% 0.03% −0.00
SDY SS SPDR S&P Dividend ETF Reduce -1.1% 0.08% −0.00
IWV iShares Russell 3000 ETF Reduce -2.6% 0.18% −0.00
ADP Automatic Data Processing Reduce -0.5% 0.02% −0.00
VWO Vanguard Ftse Emerging Marke Reduce -11.7% 0.03% −0.00
IVE iShares S&P 500 Value ETF Reduce -0.6% 0.16% −0.00
ADI Analog Devices Inc. Reduce -0.3% 0.07% −0.00
ETN Eaton Corp. PLC Reduce -10.7% 0.02% −0.00
UNH Unitedhealth Group Inc. Reduce -10.4% 0.03% −0.00
LOW Lowe's Cos Inc. Reduce -13.6% 0.02% −0.00
NEE Nextera Energy Inc. Reduce -4.2% 0.08% −0.00
SCHH Schwab US REIT ETF Reduce -0.4% 0.04% −0.00
VGT Vanguard Info Tech ETF Reduce -7.8% 0.05% −0.00
MMM 3M Co. Reduce -0.5% 0.02% −0.00

Portfolio Buys Q2 2025 → Q3 2025
IDEV iShares Core MSCI Dev MKTS Add +2.3% 23.22% +0.16
AAPL Apple Inc. Add +2.9% 0.96% +0.16
AVUV Avantis US Small Cap Value Add +7.1% 1.61% +0.14
USRT iShares Core US REIT ETF Add +5.3% 4.11% +0.09
IAU iShares Gold Trust New 0.07% +0.07
GLD SPDR Gold Shares New 0.06% +0.06
SPY SS SPDR S&P 500 ETF Trust-US Add +31.3% 0.23% +0.06
IGOV iShares International Treasu New 0.05% +0.05
AVGO Broadcom Inc. Add +12.2% 0.24% +0.05
AGG iShares Core U.S. Aggregate Add +13.8% 0.71% +0.05
DFAE Dimensional Emerging Core Eq Add +14.3% 0.27% +0.04
TSLA Tesla Inc. New 0.03% +0.03
VYM Vanguard High DVD Yield ETF Add +149.9% 0.06% +0.03
SHW The Sherwin-Williams Co. New 0.03% +0.03
DFAI Dimensional International Co. Add +9.7% 0.41% +0.03
ISHG iShares -3 Year Internationa New 0.03% +0.03
QUIK Quicklogic Corp. New 0.03% +0.03
BSX Boston Scientific Corp. New 0.03% +0.03
BRK.B Berkshire Hathaway Inc. Class B Add +23.8% 0.16% +0.03
GOOG Alphabet Inc. Class C Add +1.1% 0.10% +0.02
ORCL Oracle Corp. New 0.02% +0.02
GLW Corning Inc. New 0.02% +0.02
IJH iShares Core S&P Midcap ETF New 0.02% +0.02
ABBV Abbvie Inc. Add +13.2% 0.08% +0.02
SYK Stryker Corp. New 0.02% +0.02
MGK Vngrd Mrgstr MG CP GR ETF-Ui New 0.02% +0.02
PEP Pepsico Inc. New 0.02% +0.02
GOOGL Alphabet Inc. Class A Add +4.1% 0.07% +0.02
VOO Vanguard S&P 500 ETF Add +7.7% 0.24% +0.02
VOOG Vanguard S&P 500 Growth ETF New 0.02% +0.02
PHYS Sprott Physical Gold Trust New 0.02% +0.02
IWF iShares Russell 1000 Growth Add +8.1% 0.17% +0.02
IWB iShares Russell 1000 ETF Add +19.3% 0.07% +0.01
JPM JPMorgan Chase & Co. Add +13.7% 0.08% +0.01
HD Home Depot Inc. Add +12.6% 0.06% +0.01
TPL Texas Pacific Land Corp. Add +61.0% 0.03% +0.01
VUG Vanguard Mrngstar GR ETF-Sui Add +1.7% 0.20% +0.01
RTX RTX Corp. Add +13.8% 0.03% +0.01
CAT Caterpillar Inc. Add +0.2% 0.04% +0.01
VTV Vanguard Mrngstr Val ETF-Aui Add +8.4% 0.07% +0.00
AMAT Applied Materials Inc. Add +0.8% 0.08% +0.00
SCHD Schwab US DVD Equity ETF Add +18.3% 0.02% +0.00
VXUS Vanguard Total Intl Stock Add +9.5% 0.03% +0.00
ES Eversource Energy Add +0.1% 0.06% +0.00
CVX Chevron Corp. Add +4.5% 0.04% +0.00
IWM iShares Russell 2000 ETF Add +0.9% 0.04% +0.00
AXP American Express Co. Add +6.9% 0.05% +0.00
IVV iShares Core S&P 500 ETF Add +0.0% 0.21% +0.00
UNP Union Pacific Corp. Add +10.0% 0.02% +0.00
BA The Boeing Co. Add +5.9% 0.03% +0.00

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q4 2025 126$1.2BVGIT, IDEV, DFAC, JPIE, DFEM
Q3 2025 134$1.1BVGIT, IDEV, DFAC, JPIE, DFEM
Q2 2025 125$1.0BVGIT, IDEV, DFAC, JPIE, DFEM
Q1 2025 120$1.0BVGIT, IDEV, DFAC, JPIE, DFEM
Q4 2024 117$753.0MDFAC, VGIT, JPIE, DFEM, USRT
Q3 2024 110$752.1MDFAC, VGIT, JPIE, DFEM, USRT
Q2 2024 105$697.1MDFAC, VGIT, JPIE, DFEM, USRT
Q1 2024 104$672.1MDFAC, VGIT, JPIE, DFEM, USRT