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Heritage Financial Services, LLC — 13F Holdings & Portfolio

CIK 1752035 · latest 13F-HR filed 2026-02-02

Backtest portfolio

Heritage Financial Services, LLC manages $1.20B in 13F-reported U.S. long-equity assets across 126 reported positions as of its 2025-12-31 13F-HR filing. Its largest disclosed positions are VGIT (26.03%), IDEV (22.57%), DFAC (14.94%). Quarter over quarter (versus its 2025-09-30 filing) the fund opened 6 new positions and exited 14; 32 existing positions rose in reported value and 38 fell.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

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AUM
$1.20B

Long-equity book

Holdings
126

Distinct positions

Period
2025-12-31

Filed 2026-02-02

Q/Q Activity
+6 / −14 / ↑32 / ↓38

vs 2025-09-30

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q4 25
VGIT26.0% · +18%IDEV22.6% · +2%DFAC14.9% · -2%JPIE11.0% · +24%DFEM4.8% · -3%USRT4.1% · +12%AVUV1.7% · +9%ITOT1.5% · -7%DFSU1.3% · +8%JPST1.1% · -1%AAPL0.9% · -7%AGG0.7% · +6%DFSI0.6% · +4%DFAI0.4% · +6%NVDA0.4% · -41%MSFT0.3% · -10%VTI0.3% · +8%IEMG0.3% · -11%DFAE0.3% · +4%DFEV0.2% · -2%DFSE0.2% · +2%VOO0.2% · -12%IVV0.2% · -4%VUG0.2% · 0%IVW0.2% · -7%AVGO0.2% · -27%PG0.2% · -1%IWV0.2% · -3%SPY0.2% · -23%LLY0.2% · -2%IWF0.2% · -6%JNJ0.2% · +0%IVE0.1% · 0%IBM0.1% · +17%XOM0.1% · +4%KO0.1% · +2%BRK.B0.1% · -20%GOOG0.1% · -7%AMZN0.1% · -2%COST0.1% · +1%VEA0.1% · +2%MCD0.1% · -32%AMAT0.1% · -1%AVUS0.1% · +70%TJX0.1% · +0%BND0.1% · +1%VTEB0.1% · +0%GOOGL0.1% · -8%NEE0.1% · +4%JPM0.1% · -6%SDY0.1% · 0%VTV0.1% · 0%VIG0.1% · +1%DXJ0.1% · -3%ABBV0.1% · -12%IWB0.1% · -8%IUSG0.1% · 0%VO0.1% · -9%ES0.1% · -2%SCHX0.1% · 0%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q3 25 → Q4 25

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

2 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 89.1%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

As of the firm’s regulatory filing dated Nov 25, 2025.

Assets Under Management
$2.99B
Discretionary
$2.99B
Employees
49
Accounts
6,481
Address
100 LOWDER BROOK DRIVE
SUITE 1000
WESTWOOD, MA 02090
Phone
(781) 255-0214
Website
Name Title / Status Ownership Type
AZZOUZ, SAMMY, AMR ControlPRESIDENT & CEO
since Jul 2019
5–10%Individual
HERITAGE FINANCIAL SERVICES, INC. ControlOWNER
since Jan 2014
50–75%Domestic Entity
MATTISON, MELISSA ANN ControlCHIEF OPERATING OFFICER
since Jun 2022
Less than 5%Individual
SCALLY, JAMES, PATRICK ControlMANAGING MEMBER
since Jan 2014
5–10%Individual
WALDRON, MICHAEL, R ControlMANAGING MEMBER
since Jan 2022
5–10%Individual
WATSON, JENNIFER, M ControlCHIEF COMPLIANCE OFFICER
since Jun 2022
Less than 5%Individual
WEISSE, ROBERT, THOMAS ControlMANAGING MEMBER
since Jan 2014
10–25%Individual
BEAN, CHARLES, SWAN Control
Indirect owner via HERITAGE FINANCIAL SERVICES, INC.
CHAIRMAN AND FOUNDER
since Jan 1996
75% or moreIndividual
Ownership & leadership changes · 8 filings with changes since Nov 30, 2011

From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.

Mar 17, 2023 filing
  • AddedWALDRON, MICHAEL, R · MANAGING MEMBER · 5–10% · control person
  • ChangedAZZOUZ, SAMMY, AMR · title MANAGING MEMBER → PRESIDENT & CEO
  • ChangedBEAN, CHARLES, SWAN · indirect via HERITAGE FINANCIAL SERVICES, INC.: title PRESIDENT & CEO → CHAIRMAN AND FOUNDER
Jul 19, 2022 filing
  • No longer listedSMITH, CARROLL, ANN · CHIEF OPERATING OFFICER, CHIEF COMPLIANCE OFFICER, MANAGING MEMBER · Less than 5% · control person · listed since Mar 2015
  • AddedMATTISON, MELISSA ANN · CHIEF OPERATING OFFICER · Less than 5% · control person
  • AddedWATSON, JENNIFER, M · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
Mar 14, 2022 filing
  • ChangedBEAN, CHARLES, SWAN · indirect via HERITAGE FINANCIAL SERVICES, INC.: title PRESIDENT → PRESIDENT & CEO
Mar 23, 2020 filing
  • No longer listedBEAN, CHARLES, SWAN · MANAGING MEMBER · Less than 5% · control person · listed since Jan 1996
  • ChangedAZZOUZ, SAMMY, AMR · ownership Less than 5% → 5–10%
  • ChangedSMITH, CARROLL, ANN · title CHIEF OPERATING OFFICER, CHIEF COMPLIANCE OFFICER → CHIEF OPERATING OFFICER, CHIEF COMPLIANCE OFFICER, MANAGING MEMBER
  • ChangedWEISSE, ROBERT, THOMAS · ownership 5–10% → 10–25%
Mar 29, 2019 filing
  • ChangedHERITAGE FINANCIAL SERVICES, INC. · ownership 75% or more → 50–75%
Mar 16, 2016 filing
  • AddedAZZOUZ, SAMMY, AMR · MANAGING MEMBER · Less than 5% · control person
Mar 18, 2015 filing
  • AddedSMITH, CARROLL, ANN · CHIEF OPERATING OFFICER, CHIEF COMPLIANCE OFFICER · Less than 5% · control person
  • AddedWEISSE, ROBERT, THOMAS · MANAGING MEMBER · 5–10% · control person
  • Listed againSCALLY, JAMES, PATRICK · MANAGING MEMBER · 5–10% · control person
  • ChangedBEAN, CHARLES, SWAN · title CHIEF COMPLIANCE OFFICER → MANAGING MEMBER
Mar 18, 2014 filing
  • No longer listedSCALLY, JAMES, PATRICK · VICE PRESIDENT · Less than 5% · control person · listed since Jan 1999
  • AddedBEAN, CHARLES, SWAN · PRESIDENT · 75% or more · indirect via HERITAGE FINANCIAL SERVICES, INC. · control person
  • AddedHERITAGE FINANCIAL SERVICES, INC. · OWNER · 75% or more · control person
  • ChangedBEAN, CHARLES, SWAN · title PRESIDENT, CHIEF COMPLIANCE OFFICER → CHIEF COMPLIANCE OFFICER; ownership 75% or more → Less than 5%
Nov 30, 2011 filing (earliest on record)
  • ListedBEAN, CHARLES, SWAN · PRESIDENT, CHIEF COMPLIANCE OFFICER · 75% or more · control person
  • ListedSCALLY, JAMES, PATRICK · VICE PRESIDENT · Less than 5% · control person

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

Top Adds (vs prior quarter)

Show all 32 →

Top Trims

Show all 38 →

New Positions

Show all 6 →

Exited Positions

Show all 14 →

Heritage Financial Services, LLC Holdings (2025-12-31)

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 VANGUARD SCOTTSDALE FDS VGIT 92206C706 $311.8M 26.03% 5,202,760 SH
2 ISHARES TR IDEV 46435G326 $270.4M 22.57% 3,278,313 SH
3 DIMENSIONAL ETF TRUST DFAC 25434V708 $179.0M 14.94% 4,520,404 SH
4 J P MORGAN EXCHANGE TRADED F JPIE 46641Q159 $131.9M 11.01% 2,848,628 SH
5 DIMENSIONAL ETF TRUST DFEM 25434V732 $57.6M 4.81% 1,741,258 SH
6 ISHARES TR USRT 464288521 $49.4M 4.13% 867,698 SH
7 AMERICAN CENTY ETF TR AVUV 025072877 $20.0M 1.67% 195,964 SH
8 ISHARES TR ITOT 464287150 $18.2M 1.52% 122,164 SH
9 DIMENSIONAL ETF TRUST DFSU 25434V716 $15.8M 1.32% 364,066 SH
10 J P MORGAN EXCHANGE TRADED F JPST 46641Q837 $12.9M 1.08% 255,596 SH
11 APPLE INC AAPL 037833100 $10.6M 0.89% 39,019 SH
12 ISHARES TR AGG 464287226 $8.3M 0.70% 83,382 SH
13 DIMENSIONAL ETF TRUST DFSI 25434V690 $7.6M 0.64% 178,466 SH
14 DIMENSIONAL ETF TRUST DFAI 25434V203 $5.1M 0.42% 133,568 SH
15 NVIDIA CORPORATION NVDA 67066G104 $4.5M 0.37% 24,012 SH
16 MICROSOFT CORP MSFT 594918104 $4.0M 0.33% 8,267 SH
17 VANGUARD INDEX FDS VTI 922908769 $3.8M 0.32% 11,466 SH
18 ISHARES INC IEMG 46434G103 $3.3M 0.28% 49,274 SH
19 DIMENSIONAL ETF TRUST DFAE 25434V302 $3.2M 0.27% 98,200 SH
20 DIMENSIONAL ETF TRUST DFEV 25434V740 $2.8M 0.23% 82,590 SH
21 DIMENSIONAL ETF TRUST DFSE 25434V682 $2.5M 0.21% 59,733 SH
22 VANGUARD INDEX FDS VOO 922908363 $2.4M 0.20% 3,828 SH
23 ISHARES TR IVV 464287200 $2.3M 0.20% 3,422 SH
24 VANGUARD INDEX FDS VUG 922908736 $2.3M 0.19% 4,617 SH
25 ISHARES TR IVW 464287309 $2.1M 0.18% 17,172 SH
26 BROADCOM INC AVGO 11135F101 $2.1M 0.17% 6,035 SH
27 PROCTER AND GAMBLE CO PG 742718109 $2.0M 0.17% 14,271 SH
28 ISHARES TR IWV 464287689 $2.0M 0.17% 5,232 SH
29 SPDR S&P 500 ETF TR SPY 78462F103 $2.0M 0.17% 2,928 SH
30 ELI LILLY & CO LLY 532457108 $1.9M 0.16% 1,800 SH
31 ISHARES TR IWF 464287614 $1.8M 0.15% 3,854 SH
32 JOHNSON & JOHNSON JNJ 478160104 $1.8M 0.15% 8,783 SH
33 ISHARES TR IVE 464287408 $1.8M 0.15% 8,411 SH
34 INTERNATIONAL BUSINESS MACHS IBM 459200101 $1.7M 0.14% 5,630 SH
35 EXXON MOBIL CORP XOM 30231G102 $1.5M 0.12% 12,384 SH
36 COCA COLA CO KO 191216100 $1.5M 0.12% 20,995 SH
37 BERKSHIRE HATHAWAY INC DEL BRK.B 084670702 $1.4M 0.12% 2,829 SH
38 ALPHABET INC GOOG 02079K107 $1.4M 0.12% 4,428 SH
39 AMAZON COM INC AMZN 023135106 $1.3M 0.11% 5,503 SH
40 COSTCO WHSL CORP NEW COST 22160K105 $1.3M 0.10% 1,458 SH
41 VANGUARD TAX-MANAGED FDS VEA 921943858 $1.2M 0.10% 19,673 SH
42 MCDONALDS CORP MCD 580135101 $1.2M 0.10% 3,913 SH
43 APPLIED MATLS INC AMAT 038222105 $1.2M 0.10% 4,517 SH
44 AMERICAN CENTY ETF TR AVUS 025072885 $1.1M 0.09% 9,459 SH
45 TJX COS INC NEW TJX 872540109 $1.0M 0.09% 6,662 SH
46 VANGUARD BD INDEX FDS BND 921937835 $1.0M 0.08% 13,655 SH
47 VANGUARD MUN BD FDS VTEB 922907746 $970.7K 0.08% 19,303 SH
48 ALPHABET INC GOOGL 02079K305 $958.1K 0.08% 3,061 SH
49 NEXTERA ENERGY INC NEE 65339F101 $948.2K 0.08% 11,811 SH
50 JPMORGAN CHASE & CO. JPM 46625H100 $852.6K 0.07% 2,646 SH
Filing History
Period Filed AUM Holdings Accession
2025-12-31 2026-02-02 $1.20B 126 0001172661-26-000428
2025-09-30 2025-10-30 $1.11B 134 0001172661-25-004494