# Heritage Way Advisors, LLC

> Institutional holdings reported to the SEC as of Q4 2021 on Form 13F. CIK 1698220. Source: https://holderbook.com/funds/1698220-heritage-way-advisors-llc/

- Reported value: $267.2M
- Positions: 69
- Weight of the ten largest: 46.1%
- Filed: 2022-01-13

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $55.9M | 117,250 | 20.9% | 13 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $15.6M | 305,356 | 5.8% | 13 |
| SCHWAB STRATEGIC TR | [SCHX](https://holderbook.com/stocks/SCHX/) | $7.9M | 69,556 | 3.0% | 13 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $7.4M | 25,992 | 2.8% | 13 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $7.3M | 63,736 | 2.7% | 13 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $7.2M | 21,333 | 2.7% | 13 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $5.6M | 13,429 | 2.1% | 13 |
| BLACKROCK INC | [BLKXXXX](https://holderbook.com/stocks/BLKXXXX/) | $5.5M | 6,038 | 2.1% | 13 |
| UNITED PARCEL SVCS INC | [UPS](https://holderbook.com/stocks/UPS/) | $5.4M | 25,294 | 2.0% | 8 |
| ACCENTURE PLC IRELAND | [ACN](https://holderbook.com/stocks/ACN/) | $5.3M | 12,713 | 2.0% | 13 |
| VANGUARD INTL EQUITY INDEX F | [VSS](https://holderbook.com/stocks/VSS/) | $5.1M | 38,363 | 1.9% | 13 |
| NORFOLK SOUTHN CORP | [NSC](https://holderbook.com/stocks/NSC/) | $4.9M | 16,508 | 1.8% | 13 |
| NIKE INC | [NKE](https://holderbook.com/stocks/NKE/) | $4.9M | 29,245 | 1.8% | 13 |
| PRICE T ROWE GROUP INC | [TROW](https://holderbook.com/stocks/TROW/) | $4.9M | 24,696 | 1.8% | 13 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $4.7M | 33,076 | 1.7% | 13 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $4.6M | 93,476 | 1.7% | 13 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $4.6M | 34,032 | 1.7% | 13 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $4.0M | 46,241 | 1.5% | 13 |
| EQUIFAX INC | [EFX](https://holderbook.com/stocks/EFX/) | $4.0M | 13,559 | 1.5% | 13 |
| HERSHEY CO | [HSY](https://holderbook.com/stocks/HSY/) | $3.9M | 20,186 | 1.5% | 13 |
| EASTMAN CHEM CO | [EMN](https://holderbook.com/stocks/EMN/) | $3.8M | 31,720 | 1.4% | 8 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $3.8M | 21,648 | 1.4% | 13 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $3.7M | 21,709 | 1.4% | 13 |
| AUTOMATIC DATA PROCESSING IN | [ADP](https://holderbook.com/stocks/ADP/) | $3.7M | 14,999 | 1.4% | 13 |
| GENUINE PARTS CO | [GPC](https://holderbook.com/stocks/GPC/) | $3.7M | 26,229 | 1.4% | 8 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $3.6M | 56,029 | 1.3% | 13 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $3.5M | 7,038 | 1.3% | 6 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $3.5M | 22,211 | 1.3% | 13 |
| STARBUCKS CORP | [SBUX](https://holderbook.com/stocks/SBUX/) | $3.3M | 28,223 | 1.2% | 8 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $3.3M | 21,037 | 1.2% | 13 |
| NORTHERN TR CORP | [NTRS](https://holderbook.com/stocks/NTRS/) | $3.2M | 26,816 | 1.2% | 8 |
| NOVARTIS AG | [NVS](https://holderbook.com/stocks/NVS/) | $3.1M | 35,585 | 1.2% | 13 |
| HONEYWELL INTL INC | [HONZZZZ](https://holderbook.com/stocks/HONZZZZ/) | $3.1M | 14,874 | 1.2% | 7 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $3.0M | 50,773 | 1.1% | 13 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $2.9M | 10,665 | 1.1% | 6 |
| COMCAST CORP NEW | [CMCSA](https://holderbook.com/stocks/CMCSA/) | $2.8M | 56,287 | 1.1% | 13 |
| ANALOG DEVICES INC | [ADI](https://holderbook.com/stocks/ADI/) | $2.7M | 15,609 | 1.0% | 8 |
| AIR PRODUCTS AND CHEMICALS I | [APD](https://holderbook.com/stocks/APD/) | $2.7M | 8,999 | 1.0% | 7 |
| 3M CO | [MMM](https://holderbook.com/stocks/MMM/) | $2.7M | 15,335 | 1.0% | 13 |
| COLGATE PALMOLIVE CO | [CL](https://holderbook.com/stocks/CL/) | $2.7M | 31,558 | 1.0% | 13 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $2.6M | 10,813 | 1.0% | 8 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $2.6M | 50,033 | 1.0% | 13 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $2.5M | 21,578 | 0.9% | 13 |
| NORTHROP GRUMMAN CORP | [NOC](https://holderbook.com/stocks/NOC/) | $2.5M | 6,536 | 0.9% | 5 |
| ALLEGION PLC | [ALLE](https://holderbook.com/stocks/ALLE/) | $2.5M | 19,089 | 0.9% | 4 |
| ENBRIDGE INC | [ENB](https://holderbook.com/stocks/ENB/) | $2.3M | 59,782 | 0.9% | 13 |
| FLEXSHARES TR | [QDEF](https://holderbook.com/stocks/QDEF/) | $2.3M | 39,000 | 0.9% | 3 |
| MEDTRONIC PLC | [MDT](https://holderbook.com/stocks/MDT/) | $2.2M | 20,845 | 0.8% | 8 |
| SCHWAB STRATEGIC TR | [SCHF](https://holderbook.com/stocks/SCHF/) | $2.0M | 50,933 | 0.7% | 13 |
| STATE STR CORP | [STT](https://holderbook.com/stocks/STT/) | $1.8M | 19,007 | 0.7% | 2 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $1.3M | 7,345 | 0.5% | 13 |
| SCHWAB STRATEGIC TR | [SCHA](https://holderbook.com/stocks/SCHA/) | $1.1M | 10,747 | 0.4% | 13 |
| SCHWAB STRATEGIC TR | [SCHM](https://holderbook.com/stocks/SCHM/) | $893.0K | 11,107 | 0.3% | 13 |
| SNAP ON INC | [SNA](https://holderbook.com/stocks/SNA/) | $677.0K | 3,145 | 0.3% | 8 |
| VANGUARD STAR FDS | [VXUS](https://holderbook.com/stocks/VXUS/) | $677.0K | 10,648 | 0.3% | 8 |
| ISHARES TR | [IWF](https://holderbook.com/stocks/IWF/) | $642.0K | 2,101 | 0.2% | 5 |
| SCHWAB STRATEGIC TR | [SCHC](https://holderbook.com/stocks/SCHC/) | $612.0K | 14,957 | 0.2% | 11 |
| SCHWAB STRATEGIC TR | [SCHE](https://holderbook.com/stocks/SCHE/) | $588.0K | 19,846 | 0.2% | 13 |
| CARRIER GLOBAL CORPORATION | [CARR](https://holderbook.com/stocks/CARR/) | $542.0K | 10,000 | 0.2% | 7 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $508.0K | 1,069 | 0.2% | 6 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $469.0K | 1,568 | 0.2% | 6 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $379.0K | 6,188 | 0.1% | 13 |
| OTIS WORLDWIDE CORP | [OTIS](https://holderbook.com/stocks/OTIS/) | $348.0K | 4,000 | 0.1% | 7 |
| CORTEVA INC | [CTVA](https://holderbook.com/stocks/CTVA/) | $331.0K | 7,000 | 0.1% | 6 |
| PHILIP MORRIS INTL INC | [PM](https://holderbook.com/stocks/PM/) | $293.0K | 3,080 | 0.1% | 3 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $288.0K | 6,000 | 0.1% | 1 |
| SYNOVUS FINL CORP | [SNV](https://holderbook.com/stocks/SNV/) | $287.0K | 6,000 | 0.1% | 4 |
| INTUITIVE SURGICAL INC | [ISRG](https://holderbook.com/stocks/ISRG/) | $243.0K | 675 | 0.1% | 3 |
| PLX PHARMA INC | [PLXPQ](https://holderbook.com/stocks/PLXPQ/) | $200.0K | 25,000 | 0.1% | 12 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q4 2021 | +9.4% | +10.7% | -1.3% | 100% |
| Q3 2021 | -1.6% | +0.3% | -1.9% | 100% |
| Q2 2021 | +6.8% | +8.0% | -1.2% | 100% |
| Q1 2021 | +6.0% | +6.0% | +0.0% | 100% |
| Q4 2020 | +12.8% | +11.6% | +1.1% | 100% |
| Q3 2020 | +6.8% | +8.6% | -1.8% | 100% |
| Q2 2020 | +16.9% | +19.6% | -2.7% | 100% |
| Q1 2020 | -22.2% | -19.9% | -2.2% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q4 2021 | $267.2M | 69 |
| Q3 2021 | $240.7M | 68 |
| Q2 2021 | $243.3M | 69 |
| Q1 2021 | $228.1M | 65 |
| Q4 2020 | $217.0M | 65 |
| Q3 2020 | $190.5M | 65 |
| Q2 2020 | $171.2M | 62 |
| Q1 2020 | $139.1M | 60 |
| Q4 2019 | $172.7M | 61 |
| Q3 2019 | $158.1M | 60 |
| Q2 2019 | $156.7M | 60 |
| Q1 2019 | $149.3M | 59 |