Heritage Wealth Advisors

Registered adviser

CIK

1591122

Location

RICHMOND, VA

Portfolio Value

Mid $2,911,375,280

Diversification

Moderately concentrated

Filing Date

Global Rank

#1,274 / 8,819 ▲ 16

Top Industry

Asset Management 17.3%

Period ended 4 months ago

Filed Aug 14, 2026 · 3mo

26 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 137484

Roster of Oct 1, 2026

Regulatory AUM

$4,858,545,649

Main clients

Individuals and high net worth (55% of AUM)

Private funds

9 funds · Other private funds

Focus by fund count, roster of Oct 1, 2026

$255,372,227 gross assets

Private funds on Schedule D 7.B.(1)

As filed Sep 30, 2024; SEC's bulk Form ADV archive ends with 2024 filings.

$207,600,006 gross assets in 7 funds Other private funds $207,600,006 (7)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Jun 2026 to Oct 2026	$4,858,545,649	Individuals and high net worth (55%)
Apr 2026 to May 2026	$4,858,545,649	Individuals and high net worth (55%)
Apr 2025 to Mar 2026	$4,567,546,731	Individuals and high net worth (61%)
Apr 2024 to Mar 2025	$4,001,734,968	Individuals and high net worth (60%)
Dec 2023 to Mar 2024	$3,081,765,406	Individuals and high net worth (65%)
May 2023 to Nov 2023	$3,081,765,406	Individuals and high net worth (65%)

5 earlier changes not shown.

Stated strategy

Fundamental active, Multi-asset, Fixed income / rates, Wealth management / planning, Private markets Form ADV Part 2A, May 1, 2026 · original

In the firm's words

Fundamental active: A combination of fundamental analysis focused on industry dynamics, competitive positioning, profitability, cash flow and balance sheet strength coupled with a valuation overlay generates a group of equity securities for consideration.
Multi-asset: The firm first designs a personalized target asset allocation model based on a client’s time horizon, risk tolerance, and other client criteria and then selects specific investments for each asset class.
Fixed income / rates: Heritage utilizes mutual funds, exchange traded funds (ETFs), individual fixed income securities, separately managed accounts, individual equities, and private investments to invest clients’ assets in its discretionary accounts.
Wealth management / planning: Before selecting a mutual fund or separately managed account for use in clients’ portfolios, Heritage screens funds utilizing risk and return parameters as well as other key data points including alpha, beta, standard deviation and other data metrics.
Private markets: Heritage utilizes mutual funds, exchange traded funds (ETFs), individual fixed income securities, separately managed accounts, individual equities, and private investments to invest clients’ assets in its discretionary accounts.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Concentrated

The top 10 positions are 76.7% of the book (60%+)

Turnover

Low turnover

22.3% over the last four quarters (under 30%)

Horizon

Long horizon

Value-weighted holding period 20.8 quarters (12+), a floor since 69.8% of the book was already held when coverage starts

Closest benchmark: every 13F filer's combined book, active share 74.3%; sector active share 49.9% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

654 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

40.9%

+5.0 pts

Top 5

66.7%

+4.3 pts

Top 10

76.7%

+3.0 pts

HHI

1,988

Moderately concentrated+387

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Unclassified	60.0%	$1,746,784,351	149
Financial Services	14.0%	$408,402,345	96
Technology	5.8%	$167,959,197	67
Industrials	4.0%	$116,948,215	75
Consumer Cyclical	3.7%	$107,295,038	52
Communication Services	3.3%	$95,351,026	19
Energy	2.9%	$83,661,535	27
Healthcare	2.5%	$74,216,240	54
Consumer Defensive	2.4%	$70,073,785	27
Utilities	1.2%	$35,621,348	29
Basic Materials	0.1%	$2,735,817	21
Real Estate	0.1%	$2,326,383	38

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
IEFA	iShares Core MSCI EAFE ETF	+457,557	3,543,932	$342,272,952
SPHQ	Invesco S&P 500 Quality ETF	+290,060	4,978,794	$448,589,339
IEMG	iShares Trust	+156,884	1,159,805	$96,078,246
IVV	iShares Core S&P 500 ETF	+73,972	752,076	$563,222,195
GLDM	World Gold Trust	+25,929	56,161	$4,460,306
VO	VANGUARD MID-CAP INDEX FUND	+22,678	30,872	$2,487,357
MSFT	Microsoft Corp	+22,670	174,468	$65,080,053
VGT	VANGUARD INFORMATION TECHNOLOGY INDEX FUND	+9,765	10,911	$1,304,082
BTI	British American Tobacco p.l.c.	+5,364	6,364	$393,040
PGR	Progressive Corp	+5,038	169,958	$37,127,325
BKR	Baker Hughes Co	+4,834	4,928	$273,504
VUG	VANGUARD GROWTH INDEX FUND	+4,685	5,490	$472,908
PALL	abrdn Palladium ETF Trust	+4,500	5,625	$124,200
ESGD	iShares ESG Aware MSCI EAFE ETF	+4,100	44,198	$4,543,996
CARR	CARRIER GLOBAL Corp	+3,722	4,496	$329,781
TSM	Taiwan Semiconductor Manufacturing Co Ltd	+3,393	6,156	$2,939,920
AVGO	Broadcom Inc.	+3,369	8,909	$3,365,374
UVV	Universal Corp	+3,345	21,963	$1,145,809
GOOGL	Alphabet Inc.	+3,151	30,732	$10,982,694
KMI	Kinder Morgan, Inc.	+2,635	5,879	$187,951
IWF	iShares Russell 1000 Growth ETF	+2,337	5,364	$666,047
USMV	iShares MSCI USA Min Vol Factor ETF	+2,298	2,478	$239,027
BAC	Bank Of America Corp	+1,850	22,025	$1,254,984
D	Dominion Energy, Inc	+1,690	16,444	$1,122,960
TJX	Tjx Companies Inc	+1,459	4,571	$692,506
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
PHYS	Sprott Physical Gold Trust	−87,815	4,706,640	$141,999,328
MRK	Merck & Co., Inc.	−31,000	18,619	$2,392,541
ITOT	iShares Core S&P Total U.S. Stock Market ETF	−13,721	244,091	$40,096,828
COP	Conocophillips	−11,509	382,667	$39,782,061
IWS	iShares Russell Mid-Cap Value ETF	−11,015	534,456	$87,971,457
GOOG	Alphabet Inc.	−7,710	230,790	$81,545,030
BN	BROOKFIELD Corp	−7,590	1,242,540	$52,919,778
ADP	Automatic Data Processing Inc	−7,410	3,400	$761,430
RTX	RTX Corp	−7,292	312,800	$59,347,544
WMT	Walmart Inc.	−6,413	375,055	$42,478,729
DUK	Duke Energy CORP	−6,310	251,426	$31,825,503
MO	Altria Group, Inc.	−6,213	75,482	$5,430,929
AES	Aes Corp	−5,408	1,875	$27,487
NFLX	Netflix Inc	−5,000	6,511	$464,885
IVW	iShares S&P 500 Growth ETF	−4,364	56,324	$7,746,239
JNJ	Johnson & Johnson	−4,253	244,804	$62,172,871
PM	Philip Morris International Inc.	−4,240	61,281	$11,086,345
AMZN	Amazon Com Inc	−4,116	197,145	$46,987,539
KHC	Kraft Heinz Co	−3,579	3,742	$88,386
UNP	Union Pacific Corp	−3,560	129,834	$35,314,848
F	Ford Motor Co	−3,210	2,920	$40,588
VIG	Vanguard Specialized Funds	−2,977	31,024	$7,340,898
AAPL	Apple Inc.	−2,778	240,896	$69,705,666
V	Visa Inc.	−2,761	12,221	$4,192,902
MCD	Mcdonalds Corp	−2,635	94,452	$25,531,320
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
BBVA	Banco Bilbao Vizcaya Argentaria, S.A.	22,288	$558,537
TECK	Teck Resources Ltd	7,448	$442,858
CFG	Citizens Financial Group Inc	5,850	$409,909
AIZ	Assurant, Inc.	1,348	$361,978
MTB	M&T Bank Corp	1,460	$347,494
SHEL	Shell plc	3,997	$309,927
HONA	Honeywell Aerospace Inc.	1,215	$268,612
AGOX	Starboard Investment Trust	3,216	$111,466
—		530	$87,651
FDN	First Trust Dow Jones Internet Index Fund	185	$48,973
BHRB	Burke & Herbert Financial Services Corp.	666	$47,858
PKG	Packaging Corp Of America	186	$44,320
GPC	Genuine Parts Co	300	$35,394
TRIN	Trinity Capital Inc.	1,610	$28,802
FTEC	Fidelity MSCI Information Technology Index ETF	100	$28,558
SOXQ	Invesco Ltd.	246	$27,576
SPCX	Space Exploration Technologies Corp	143	$24,432
CSWC	Capital Southwest Corp	980	$23,294
FEZ	State Street(R) SPDR(R) EURO STOXX 50(R) ETF	227	$15,590
FE	Firstenergy Corp	260	$12,360
RDDT	Reddit, Inc.	66	$11,456
SOFI	SoFi Technologies, Inc.	525	$9,413
DY	Dycom Industries Inc	17	$8,595
PINE	Alpine Income Property Trust, Inc.	400	$8,304
GNL	Global Net Lease, Inc.	824	$7,366
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
—		3,500	$448,420
ROP	Roper Technologies Inc	539	$190,730
IQV	Iqvia Holdings Inc.	1,009	$172,074
FICO	Fair Isaac Corp	132	$140,915
VCSH	VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND	1,564	$123,978
BKNG	Booking Holdings Inc.	16	$67,365
CME	Cme Group Inc.	217	$64,090
XPH	State Street(R) SPDR(R) S&P(R) Pharmaceuticals ETF	1,115	$60,310
UAL	United Airlines Holdings, Inc.	629	$57,912
RSG	Republic Services, Inc.	248	$54,316
LDOS	Leidos Holdings, Inc.	342	$53,187
ALL	Allstate Corp	246	$51,005
MRNA	Moderna, Inc.	1,000	$50,800
VWOB	VANGUARD EMERGING MARKETS GOVERNMENT BOND INDEX FUND	760	$49,924
HSIC	Henry Schein Inc	611	$45,030
AEE	Ameren Corp	408	$44,847
AMCR	Amcor plc	1,048	$41,658
PFF	iShares Preferred and Income Securities ETF	1,362	$41,295
—		4,938	$41,183
MKTX	Marketaxess Holdings Inc	235	$38,770
UHS	Universal Health Services Inc	204	$36,509
VOOG	VANGUARD S&P 500 GROWTH INDEX FUND	85	$34,653
OBDC	Blue Owl Capital Corp	2,400	$26,544
EMN	Eastman Chemical Co	345	$26,330
CGBD	Carlyle Secured Lending, Inc.	2,100	$22,974
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

654 tracked positions · $2,911,375,280 total · filing declares 703 positions · $2,913,612,717 · as of Jun 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 654 positions by value · page 1 of 14

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
IVV	iShares Core S&P 500 ETF	Added	752,076	+73,972	$563,222,195	+27.2%	26+	before history	19.35%
SPHQ	Invesco S&P 500 Quality ETF	Added	4,978,794	+290,060	$448,589,339	+27.2%	4	$78.02	15.41%
IEFA	iShares Core MSCI EAFE ETF	Added	3,543,932	+457,557	$342,272,952	+22.5%	26+	before history	11.76%
PHYS	Sprott Physical Gold Trust Financial Services	Reduced	4,706,640	-87,815	$141,999,328	−16.4%	3	$31.65	4.88%
IEMG	iShares Trust	Added	1,159,805	+156,884	$96,078,246	—	26+	before history	3.30%
IWS	iShares Russell Mid-Cap Value ETF	Reduced	534,456	-11,015	$87,971,457	+10.7%	26+	before history	3.02%
GOOG	Alphabet Inc. Communication Services	Reduced	230,790	-7,710	$81,545,030	+19.2%	26+	before history	2.80%
AAPL	Apple Inc. Technology	Reduced	240,896	-2,778	$69,705,666	+12.7%	26+	before history	2.39%
MSFT	Microsoft Corp Technology	Added	174,468	+22,670	$65,080,053	+15.8%	26+	before history	2.24%
JNJ	Johnson & Johnson Healthcare	Reduced	244,804	-4,253	$62,172,871	+2.1%	26+	before history	2.14%
RTX	RTX Corp Industrials	Reduced	312,800	-7,292	$59,347,544	−3.9%	25	unpriced	2.04%
BN	BROOKFIELD Corp Financial Services	Reduced	1,242,540	-7,590	$52,919,778	+4.6%	15	unpriced	1.82%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	98,726	-1,918	$49,401,503	+2.4%	26+	before history	1.70%
AMZN	Amazon Com Inc Consumer Cyclical	Reduced	197,145	-4,116	$46,987,539	+12.1%	26+	before history	1.61%
MA	Mastercard Inc Financial Services	Reduced	88,915	-430	$45,666,744	+2.3%	26+	before history	1.57%
WMT	Walmart Inc. Consumer Defensive	Reduced	375,055	-6,413	$42,478,729	−10.4%	26+	before history	1.46%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	123,143	-2,198	$40,308,398	+9.3%	26+	before history	1.38%
ITOT	iShares Core S&P Total U.S. Stock Market ETF	Reduced	244,091	-13,721	$40,096,828	+9.2%	26+	before history	1.38%
COP	Conocophillips Energy	Reduced	382,667	-11,509	$39,782,061	−23.5%	24	$88.08	1.37%
PGR	Progressive Corp Financial Services	Added	169,958	+5,038	$37,127,325	+13.6%	26+	before history	1.28%
UNP	Union Pacific Corp Industrials	Reduced	129,834	-3,560	$35,314,848	+9.1%	26+	before history	1.21%
DUK	Duke Energy CORP Utilities	Reduced	251,426	-6,310	$31,825,503	−5.7%	26+	before history	1.09%
HD	Home Depot, Inc. Consumer Cyclical	Reduced	81,949	-1,972	$28,901,773	+4.7%	26+	before history	0.99%
VT	VANGUARD TOTAL WORLD STOCK INDEX FUND	Reduced	164,556	-225	$25,827,064	+13.3%	26+	before history	0.89%
VOO	VANGUARD 500 INDEX FUND	Reduced	37,206	-411	$25,553,452	+13.7%	26+	before history	0.88%
MCD	Mcdonalds Corp Consumer Cyclical	Reduced	94,452	-2,635	$25,531,320	−15.4%	26+	before history	0.88%
WMB	Williams Companies, Inc. Energy	Reduced	318,516	-1,424	$23,678,479	+1.7%	24	$31.79	0.81%
ACWX	iShares MSCI ACWI ex U.S. ETF	Held	308,971	0	$23,515,782	+11.2%	16	unpriced	0.81%
MKL	Markel Group Inc. Financial Services	Held	7,272	0	$14,202,288	+2.0%	26+	before history	0.49%
SPY	Spdr S&P 500 ETF Trust	Added	17,513	+351	$13,078,183	+17.2%	26+	before history	0.45%
EPD	Enterprise Products Partners L.P. Energy	Reduced	343,269	-500	$12,618,568	−3.0%	24	$21.34	0.43%
PM	Philip Morris International Inc. Consumer Defensive	Reduced	61,281	-4,240	$11,086,345	+2.3%	26+	before history	0.38%
GOOGL	Alphabet Inc. Communication Services	Added	30,732	+3,151	$10,982,694	+38.5%	26+	before history	0.38%
IVW	iShares S&P 500 Growth ETF	Reduced	56,324	-4,364	$7,746,239	+12.8%	21	unpriced	0.27%
VIG	Vanguard Specialized Funds	Reduced	31,024	-2,977	$7,340,898	+0.4%	26+	before history	0.25%
XLK	State Street(R) Technology Select Sector SPDR(R) ETF	Added	32,855	+159	$6,259,534	+44.1%	26+	before history	0.22%
MO	Altria Group, Inc. Consumer Defensive	Reduced	75,482	-6,213	$5,430,929	+0.7%	26+	before history	0.19%
AMAT	Applied Materials Inc Technology	Added	6,562	+1,209	$4,744,326	+159.3%	26+	before history	0.16%
ESGD	iShares ESG Aware MSCI EAFE ETF	Added	44,198	+4,100	$4,543,996	+18.5%	20	unpriced	0.16%
XOM	ExxonMobil Holdings Corp Energy	Added	32,827	+934	$4,488,107	−17.1%	26+	before history	0.15%
GLDM	World Gold Trust	Added	56,161	+25,929	$4,460,306	+59.2%	11	$70.54	0.15%
IVE	iShares S&P 500 Value ETF	Held	19,058	0	$4,327,309	+7.5%	3	unpriced	0.15%
IJJ	iShares S&P Mid-Cap 400 Value ETF	Held	28,654	0	$4,233,055	+11.5%	8	unpriced	0.15%
OEF	iShares S&P 100 ETF	Reduced	11,465	-37	$4,194,699	+14.7%	26+	before history	0.14%
V	Visa Inc. Financial Services	Reduced	12,221	-2,761	$4,192,902	−7.4%	26+	before history	0.14%
NVDA	Nvidia Corp Technology	Added	18,444	+340	$3,690,459	+16.9%	26+	before history	0.13%
CSX	Csx Corp Industrials	Reduced	74,010	-1,249	$3,517,695	+13.9%	26+	before history	0.12%
AVGO	Broadcom Inc. Technology	Added	8,909	+3,369	$3,365,374	+96.3%	26+	before history	0.12%
MU	Micron Technology Inc Technology	Added	2,832	+788	$3,268,949	+373.4%	24	$257.64	0.11%
TSM	Taiwan Semiconductor Manufacturing Co Ltd Technology	Added	6,156	+3,393	$2,939,920	+214.8%	18	$308.67	0.10%

Showing the top 50 of 654 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.