SEC 13F Intelligence

Managers / Q4 2019 · view latest →

HERITAGE INVESTORS MANAGEMENT CORP

CIK 0000937589 · 7101 WISCONSIN AVENUE STE 950, BETHESDA, MD, 20814 · 3019510440

Reported Value
$1.9B
Q4 2019
Positions
208
Filings on Record
30
2019–present window
Filed
Jan 14, 2020
original filing

Summary

Heritage Investors Management Corp reported $1.9B in U.S.-listed holdings across 208 positions for Q4 2019.

Its largest position, AAPL, represents 3.9% of the portfolio.

Compared with Q3 2019, the fund opened 9 new positions and exited 8.

Portfolio Metrics

Turnover
+1.6%
vs prior filed quarter
Top-10 Concentration
+24.0%
share of reported value
Largest Position
+3.9%
Apple
New / Exited
9 / 8
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $1.5BQ4 ’18Q1 ’19: $1.7BQ2 ’19: $1.7BQ3 ’19: $1.8BQ4 ’19: $1.9BQ4 ’19Q1 ’20: $1.4BQ2 ’20: $1.7BQ3 ’20: $1.9BQ4 ’20: $2.1BQ4 ’20Q1 ’21: $2.3BQ2 ’21: $2.4BQ3 ’21: $2.4BQ4 ’21: $2.6BQ4 ’21Q1 ’22: $2.5BQ2 ’22: $2.1BQ3 ’22: $2.0BQ4 ’22: $2.2BQ4 ’22Q1 ’23: $2.3BQ2 ’23: $2.5BQ3 ’23: $2.4BQ4 ’23: $2.6BQ4 ’23Q1 ’24: $2.8BQ2 ’24: $2.9BQ3 ’24: $3.0BQ4 ’24: $3.1BQ4 ’24Q1 ’25: $2.9BQ2 ’25: $3.2BQ3 ’25: $3.3BQ4 ’25: $3.4BQ4 ’25Q1 ’26: $3.3Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 89.4%ETP: 7.1%REIT: 1.4%ADR: 1.3%Other: 0.7%Right: 0.0%
  • Common Stock · 89.4% · $1.7B
  • ETP · 7.1% · $134M
  • REIT · 1.4% · $27M
  • ADR · 1.3% · $25M
  • Other · 0.7% · $13M
  • Right · 0.0% · $86,000

Quarter-over-Quarter Changes full breakdown →

vs Q3 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
MDLZMONDELEZ INTL INCNEW+15.6K15.6K+$859,000$859,000
CVSCVS HEALTH CORPNEW+5.5K5.5K+$406,000$406,000
SPDR RUSSELL 3000 TRUSTNEW+8.6K8.6K+$342,000$342,000
VNOVORNADO REALTY TRUST REITNEW+3.5K3.5K+$233,000$233,000
IWOISHARESNEW+1.0K1.0K+$220,000$220,000
PKOHPARK OHIO HLDGS CORPNEW+6.3K6.3K+$211,000$211,000
IJJISHARESNEW+1.2K1.2K+$203,000$203,000
SDYSPDR SERIES TRUSTNEW+1.9K1.9K+$203,000$203,000

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2019

187 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AAPLAPPLE INChistory →COM3.94%$74M253.0K
2GOOGLALPHABET INCCL A · CL C3.25%$61M45.7K
3MSFTMICROSOFT CORPhistory →COM2.86%$54M341.5K
4MAMASTERCARD INChistory →CL A2.43%$46M153.2K
5MARMARRIOTT INTL INC NEWhistory →CL A2.18%$41M272.0K
6INTCINTEL CORPhistory →COM1.92%$36M604.7K
7EFAISHARES TRMSCI EAFE ETF · CORE MSCI EAFE · RUSSELL 2000 ETF · MSCI EMG MKT ETF · CORE S&P SCP ETF · CORE S&P MCP ETF · RUS MID-CAP ETF · US TREAS BD ETF · IBOXX INV CP ETF · CORE S&P500 ETF · PFD AND INCM SEC1.92%$36M504.3K
8VBVANGUARD INDEX FUNDSSMALL CP ETF · MID CAP ETF · S&P 500 ETF SHS · TOTAL STK MKT · LARGE CAP ETF1.89%$36M210.1K
9DISDISNEY WALT COhistory →COM1.87%$35M243.2K
10MDYSPDR S&P MIDCAP 400 ETF TRhistory →UT1.75%$33M87.7K
11JPMJPMORGAN CHASE & COhistory →COM1.73%$33M234.3K
12CSCOCISCO SYSTEMS INChistory →COM1.71%$32M670.7K
13HDHOME DEPOT INChistory →COM1.56%$29M135.0K
14CATCATERPILLAR INChistory →COM1.52%$29M194.5K
15AXPAMERICAN EXPRESS COhistory →COM1.49%$28M224.9K
16NKENIKE INChistory →CL B1.46%$28M271.6K
17MCDMCDONALDS CORPhistory →COM1.45%$27M138.0K
18JNJJOHNSON & JOHNSONhistory →COM1.41%$27M182.0K
19MLMMARTIN MARIETTA MATLS INChistory →COM1.41%$27M94.8K
20ZTSZOETIS INChistory →COM1.38%$26M195.9K
21BABOEING COhistory →COM1.37%$26M79.3K
22UTXZUNITED TECHNOLOGIES CORPhistory →COM1.36%$26M171.0K
23WMTWAL-MART STORES INChistory →COM1.35%$25M213.5K
24VZVERIZON COMMUNICATIONS INChistory →COM1.27%$24M390.4K
25TROWPRICE T ROWE GROUP INChistory →COM1.27%$24M196.5K
26AMGNAMGEN INChistory →COM1.24%$23M97.1K
27PANWPALO ALTO NETWORKS INChistory →COM1.24%$23M100.7K
28MRKMERCK & CO INChistory →COM1.20%$23M249.6K
29TAT&T INChistory →COM1.20%$23M580.3K
30AVGOBROADCOM INC.history →COM1.16%$22M69.3K
31STZCONSTELLATION BRANDS INChistory →CL A1.16%$22M115.2K
32UNHUNITEDHEALTH GROUP INChistory →COM1.15%$22M74.0K
33BACBANK OF AMERICA CORPhistory →COM1.12%$21M600.4K
34PEPPEPSICO INChistory →COM1.05%$20M144.4K
35YUMCYUM CHINA HLDGS INChistory →COM0.99%$19M389.1K
36ZBHZIMMER BIOMET HLDGS INChistory →COM0.98%$18M123.3K
37SYFSYNCHRONY FINANCIALhistory →COM0.97%$18M507.1K
38AMZNAMAZON.COM INChistory →COM0.97%$18M9.9K
39CRMSALESFORCE COM INChistory →COM0.94%$18M109.4K
40CVXCHEVRON CORPhistory →COM0.93%$18M145.8K
41BLACKROCK INCCOM0.92%$17M34.4K
42VEUVANGUARD INTL EQUITY INDEX FDALLWRLD EX US · FTSE EMR MKT ETF · FTSE DEV MKT ETF0.89%$17M333.7K
43CCITIGROUP INChistory →COM0.88%$17M207.5K
44COPCONOCOPHILLIPShistory →COM0.88%$17M254.8K
45YUMYUM! BRANDS INChistory →COM0.88%$17M164.4K
46PCARPACCAR INChistory →COM0.86%$16M205.5K
47PFEPFIZER INChistory →COM0.85%$16M406.9K
48CSXCSX CORPhistory →COM0.84%$16M219.1K
49KOCOCA COLA COhistory →COM0.84%$16M284.8K
50GSGOLDMAN SACHS GROUP INChistory →COM0.82%$15M67.3K
51EXMOCEXXON MOBIL CORPhistory →COM0.76%$14M206.2K
52ADPAUTOMATIC DATA PROCESSING INChistory →COM0.74%$14M82.4K
53PGPROCTER & GAMBLE COhistory →COM0.74%$14M111.2K
54COFCAPITAL ONE FINANCIAL CORPhistory →COM0.73%$14M133.5K
55IBMINTERNATIONAL BUSINESS MACHShistory →COM0.72%$14M101.4K
56CMCSACOMCAST CORPhistory →CL A0.72%$14M301.1K
57EQIXEQUINIX INChistory →COM0.71%$13M22.8K
58MSMORGAN STANLEYhistory →COM0.71%$13M260.3K
59APDAIR PRODS & CHEMS INChistory →COM0.69%$13M55.1K
60AMTAMERICAN TOWER CORPhistory →COM0.66%$12M54.0K
61PMPHILIP MORRIS INTL INChistory →COM0.65%$12M143.3K
62TMOTHERMO FISHER SCIENTIFIC INChistory →COM0.64%$12M36.9K
63FDXFEDEX CORPhistory →COM0.62%$12M77.9K
64HONHONEYWELL INTERNATIONAL INChistory →COM0.61%$12M65.2K
65UPSUNITED PARCEL SERVICE INChistory →CL B0.60%$11M96.5K
66NSCNORFOLK SOUTHERN CORPhistory →COM0.59%$11M57.4K
67MOALTRIA GROUP INChistory →COM0.59%$11M222.6K
68ADMARCHER DANIELS MIDLAND COhistory →COM0.57%$11M231.9K
69BMYBRISTOL MYERS SQUIBB COCOM · RTS EXP 12/31/200.56%$11M192.5K
70LMTLOCKHEED MARTIN CORPhistory →COM0.55%$10M26.8K
71SLBSCHLUMBERGER LTDCOM0.51%$10M240.1K
72PSXPHILLIPS 66COM0.48%$9M81.5K
73LINDE PLCCOM0.47%$9M41.9K
74METAFACEBOOK INCCL A0.47%$9M42.9K
75IAC INTERACTIVECORPCOM0.46%$9M34.9K
76MMM3M COCOM0.44%$8M47.3K
77DDDUPONT DE NEMOURS INCCOM0.44%$8M129.6K
78BURLBURLINGTON STORES INCCOM0.43%$8M36.0K
79ROYAL DUTCH SHELL PLCSPONS ADR A · SPON ADR B0.43%$8M135.7K
80WFCWELLS FARGO & COCOM0.42%$8M147.8K
81ABBVABBVIE INCCOM0.42%$8M89.7K
82TMTOYOTA MOTOR CORPSPON ADR0.41%$8M55.1K
83AERAERCAP HOLDINGS NVSHS0.35%$7M107.1K
84DOWDOW INCCOM0.35%$7M119.2K
85MDTMEDTRONIC PLCSHS0.34%$6M56.1K
86UNPUNION PACIFIC CORPCOM0.33%$6M34.4K
87TAKTAKEDA PHARMACEUTICAL CO LTDSPONSORED ADS0.32%$6M304.1K
88VVISA INCCOM CL A0.31%$6M31.4K
89HSYHERSHEY COCOM0.31%$6M40.0K
90CMGCHIPOTLE MEXICAN GRILL INCCOM0.31%$6M7.0K
91RAYTHEON COCOM0.31%$6M26.5K
92ELANELANCO ANIMAL HEALTH INCCOM0.31%$6M197.4K
93MCKMCKESSON CORPCOM0.29%$5M38.9K
94WBAWALGREENS BOOTS ALLIANCE INCCOM0.28%$5M88.4K
95SLMSLM CORPCOM0.28%$5M582.6K
96BSXBOSTON SCIENTIFIC CORPCOM0.27%$5M112.7K
97CTVACORTEVA INCCOM0.26%$5M162.7K
98IEMGISHARES INCCORE MSCI EMKT · RUS 2000 GRW ETF · S&P MC 400VL ETF0.25%$5M82.6K
99BRK/BBERKSHIRE HATHAWAY INCCL B0.25%$5M20.8K
100LDOSLEIDOS HLDGS INCCOM0.25%$5M47.6K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$3.3B249Apr 24, 202613F-HRchanges · EDGAR ↗
Q4 2025$3.4B245Feb 6, 202613F-HRchanges · EDGAR ↗
Q3 2025$3.3B251Nov 4, 202513F-HRchanges · EDGAR ↗
Q2 2025$3.2B252Aug 4, 202513F-HRchanges · EDGAR ↗
Q1 2025$2.9B254May 5, 202513F-HRchanges · EDGAR ↗
Q4 2024$3.1B255Feb 5, 202513F-HRchanges · EDGAR ↗
Q3 2024$3.0B254Oct 30, 202413F-HRchanges · EDGAR ↗
Q2 2024$2.9B252Jul 30, 202413F-HRchanges · EDGAR ↗
Q1 2024$2.8B255Apr 29, 202413F-HRchanges · EDGAR ↗
Q4 2023$2.6B248Feb 7, 202413F-HRchanges · EDGAR ↗
Q3 2023$2.4B246Nov 9, 202313F-HRchanges · EDGAR ↗
Q2 2023$2.5B244Aug 1, 202313F-HRchanges · EDGAR ↗
Q1 2023$2.3B249May 1, 202313F-HRchanges · EDGAR ↗
Q4 2022$2.2B261Feb 6, 202313F-HRchanges · EDGAR ↗
Q3 2022$2.0B252Oct 27, 202213F-HRchanges · EDGAR ↗
Q2 2022$2.1B256Aug 1, 202213F-HRchanges · EDGAR ↗
Q1 2022$2.5B274May 2, 202213F-HRchanges · EDGAR ↗
Q4 2021$2.6B276Jan 28, 202213F-HRchanges · EDGAR ↗
Q3 2021$2.4B276Oct 28, 202113F-HRchanges · EDGAR ↗
Q2 2021$2.4B267Jul 29, 202113F-HRchanges · EDGAR ↗
Q1 2021$2.3B259Apr 23, 202113F-HRchanges · EDGAR ↗
Q4 2020$2.1B263Jan 28, 202113F-HRchanges · EDGAR ↗
Q3 2020$1.9B260Oct 29, 202013F-HRchanges · EDGAR ↗
Q2 2020$1.7B262Jul 24, 202013F-HRchanges · EDGAR ↗
Q1 2020$1.4B219May 6, 202013F-HRchanges · EDGAR ↗
Q4 2019$1.9B208Jan 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$1.8B207Oct 18, 201913F-HRchanges · EDGAR ↗
Q2 2019$1.7B212Jul 11, 201913F-HRchanges · EDGAR ↗
Q1 2019$1.7B206Apr 9, 201913F-HRchanges · EDGAR ↗
Q4 2018$1.5B181Jan 28, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.