Heritage Financial Services, LLC

RIA/Wealth

Heritage Financial Services, LLC is a RIA/Wealth based in Gainesville, VA led by Sammy Amr Azzouz, reporting $3.0B in AUM as of Q3 2025 with 94% ETF concentration, 88% concentrated in top 10 holdings, 24% allocation to VGIT, and minimal technology exposure.

CEOSammy Amr Azzouz

Portfolio Value: $1.1B
Positions: 134
Top Holding: VGIT at 23.79%
Last Reported: Q3 2025

Address7001 Heritage Village Plaza, Suite 190, Gainesville, VA, 20155, United States

Top Holdings

Largest long holdings in Heritage Financial Services, LLC's portfolio (87.7% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Vanguard Intermediate-Term Treasury VGIT	ETF ETF	$264.7M	23.79%	+$11.0M Bought	— 4.4M shares	Q4 2022 Held for 2y 11m
2 iShares Core MSCI International Developed Markets IDEV	ETF ETF	$258.3M	23.22%	+$5.7M Bought	— 3.2M shares	Q4 2022 Held for 2y 11m
3 Dimensional U.S. Core Equity 2 DFAC	ETF ETF	$178.2M	16.02%	-$2.0M Sold	— 4.6M shares	Q4 2021 Held for 3y 11m
4 JPIE JPMorgan Income JPIE	ETF ETF	$107.0M	9.62%	+$4.6M Bought	— 2.3M shares	Q2 2022 Held for 3y 5m
5 Dimensional Emerging Markets Core Equity 2 DFEM	ETF ETF	$57.4M	5.16%	-$1.1M Sold	— 1.8M shares	Q1 2024 Held for 1y 8m
6 iShares Core U.S. REIT USRT	ETF ETF	$45.7M	4.11%	+$2.3M Bought	— 778.4K shares	Q4 2021 Held for 3y 11m
7 iShares Core S&P Total U.S. Stock Market ITOT	ETF ETF	$19.1M	1.72%	-$368.8K Sold	— 131.4K shares	Q4 2021 Held for 3y 11m
8 Avantis U.S. Small Cap Value AVUV	ETF ETF	$17.9M	1.61%	+$1.2M Bought	— 180.0K shares	Q1 2025 Held for 8 months
9 Dimensional US Sustainability Core 1 DFSU	ETF ETF	$14.4M	1.29%	-$60.7K Sold	— 338.0K shares	Q4 2022 Held for 2y 11m
10 JPMorgan Ultra-Short Income JPST	ETF ETF	$13.1M	1.18%	+$145.9K Bought	— 259.1K shares	Q4 2021 Held for 3y 11m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Heritage Financial Services, LLC's latest filing

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Market Value

$1.1B

Prior: $1.0B

Q/Q Change

+7.06%

+$73.4M

Net Flows % of MV

+2.11%

Turnover Ratio

1.97%

New Purchases

6 stocks

$1.8M

Added To

45 stocks

+$30.0M

Sold Out Of

7 stocks

$1.3M

Reduced Holdings

54 stocks

-$7.0M

Increased Positions

Position	Shares Δ	Change
1 iShares 1-3 Year International Treasury Bond IGOV	New	0 → 13.5K +$577.1K
2 ISHG iShares International Treasury Bond ISHG	New	0 → 4.3K +$323.9K
3 QuickLogic QUIK	New	0 → 50.0K +$303.0K
4 Vanguard Mega Cap Growth MGK	New	0 → 525.0 +$211.3K
5 VOOG Vanguard S&P 500 Growth VOOG	New	0 → 464.0 +$202.1K

Decreased Positions

Position	Shares Δ	Change
1 Cigna CI	Sold	733.0 → 0 −$242.3K
2 Amgen AMGN	Sold	834.0 → 0 −$232.9K
3 Advanced Micro Devices AMD	Sold	1.5K → 0 −$219.1K
4 Schwab 1-5 Year Corporate Bond SCHJ	Sold	8.3K → 0 −$205.7K
5 Texas Instruments TXN	Sold	982.0 → 0 −$203.9K