SEC 13F Intelligence

Managers / Q1 2020 · view latest →

HERITAGE INVESTORS MANAGEMENT CORP

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

Reported Value
$1.4B
Q1 2020
Positions
219
Filings on Record
30
2019–present window
Filed
May 6, 2020
original filing

Summary

Heritage Investors Management Corp reported $1.4B in U.S.-listed holdings across 219 positions for Q1 2020.

Its largest position, AAPL, represents 4.4% of the portfolio.

Compared with Q4 2019, the fund opened 23 new positions and exited 12.

Portfolio Metrics

Turnover
+0.5%
vs prior filed quarter
Top-10 Concentration
+25.4%
share of reported value
Largest Position
+4.4%
Apple
New / Exited
23 / 12
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: 89.5%ETP: 6.6%REIT: 1.8%ADR: 1.3%Other: 0.7%Right: 0.0%
  • Common Stock · 89.5% · $1.3B
  • ETP · 6.6% · $95M
  • REIT · 1.8% · $26M
  • ADR · 1.3% · $18M
  • Other · 0.7% · $10M
  • Right · 0.0% · $105,000

Quarter-over-Quarter Changes full breakdown →

vs Q4 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
CHANGE HEALTHCARE INNEW+64.9K64.9K+$648,000$648,000
QUIDEL CORPNEW+4.4K4.4K+$429,000$429,000
USLMUNITED STATES LIME &NEW+5.2K5.2K+$384,000$384,000
NEENEXTERA ENERGY INCNEW+1.4K1.4K+$347,000$347,000
MSTRMICROSTRATEGY INCNEW+1.8K1.8K+$212,000$212,000
SHOPSHOPIFY INCNEW+500500+$208,000$208,000
EVIEVI INDUSTRIES INCNEW+12.9K12.9K+$204,000$204,000
TGNATEGNA INCNEW+11.4K11.4K+$124,000$124,000

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

Holdings — Q1 2020

201 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AAPLAPPLE INChistory →COM4.36%$62M244.5K
2MSFTMICROSOFT CORPhistory →COM3.76%$54M339.7K
3GOOGLALPHABET INCCAP STK CL A · CAP STK CL C3.69%$53M45.3K
4MAMASTERCARD INChistory →CL A2.58%$37M152.3K
5INTCINTEL CORPhistory →COM2.22%$32M583.7K
6EFAISHARES 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 SEC1.86%$27M488.7K
7CSCOCISCO SYS INChistory →COM1.82%$26M659.2K
8HDHOME DEPOT INChistory →COM1.72%$25M131.6K
9VBVANGUARD INDEX FDSSMALL CP ETF · MID CAP ETF · S&P 500 ETF SHS · TOTAL STK MKT · LARGE CAP ETF1.72%$24M203.9K
10DISDISNEY WALT COhistory →COM DISNEY1.69%$24M248.9K
11WMTWALMART INChistory →COM1.66%$24M208.7K
12JNJJOHNSON & JOHNSONhistory →COM1.64%$23M178.2K
13MDYSPDR S&P MIDCAP 400history →UTSER1 S&PDCRP1.57%$22M85.4K
14ZTSZOETIS INChistory →CL A1.56%$22M189.3K
15MCDMCDONALDS CORPhistory →COM1.56%$22M134.7K
16NKENIKE INChistory →CL B1.55%$22M266.9K
17CATCATERPILLAR INC DELhistory →COM1.54%$22M189.8K
18JPMJPMORGAN CHASE & COhistory →COM1.45%$21M230.1K
19VZVERIZON COMMUNICATIOhistory →COM1.44%$21M382.9K
20MARMARRIOTT INTL INC NEhistory →CL A1.41%$20M269.1K
21AMZNAMAZON COM INChistory →COM1.39%$20M10.1K
22MRKMERCK & CO. INChistory →COM1.38%$20M255.4K
23AMGNAMGEN INChistory →COM1.36%$19M95.9K
24AXPAMERICAN EXPRESS COhistory →COM1.33%$19M221.1K
25TROWPRICE T ROWE GROUP Ihistory →COM1.31%$19M190.9K
26UNHUNITEDHEALTH GROUP Ihistory →COM1.29%$18M73.6K
27MLMMARTIN MARIETTA MATLhistory →COM1.23%$18M92.9K
28STZCONSTELLATION BRANDShistory →CL A1.18%$17M117.5K
29PEPPEPSICO INChistory →COM1.17%$17M139.9K
30YUMCYUM CHINA HLDGS INChistory →COM1.17%$17M391.2K
31AVGOBROADCOM INChistory →COM1.17%$17M70.1K
32TAT&T INChistory →COM1.16%$16M565.1K
33PANWPALO ALTO NETWORKS Ihistory →COM1.15%$16M100.3K
34CRMSALESFORCE COM INChistory →COM1.12%$16M111.2K
35UTXZUNITED TECHNOLOGIEShistory →COM1.11%$16M168.0K
36BLACKROCK INCCOM1.04%$15M33.6K
37EQIXEQUINIX INChistory →COM0.98%$14M22.3K
38PFEPFIZER INChistory →COM0.91%$13M398.6K
39BACBK OF AMERICA CORPhistory →COM0.87%$12M585.1K
40KOCOCA COLA COhistory →COM0.86%$12M277.4K
41CSXCSX CORPhistory →COM0.86%$12M214.1K
42PCARPACCAR INChistory →COM0.86%$12M200.1K
43ZBHZIMMER BIOMET HOLDINhistory →COM0.86%$12M120.8K
44PGPROCTER & GAMBLE COhistory →COM0.83%$12M108.0K
45VEUVANGUARD INTL EQUITYALLWRLD EX US · FTSE EMR MKT ETF0.82%$12M308.5K
46BABOEING COhistory →COM0.81%$12M77.3K
47AMTAMERICAN TOWER CORPhistory →COM0.79%$11M51.8K
48ADPAUTOMATIC DATA PROCEhistory →COM0.78%$11M81.7K
49YUMYUM BRANDS INChistory →COM0.78%$11M161.9K
50CMCSACOMCAST CORP NEWhistory →CL A0.78%$11M322.7K
51IBMINTERNATIONAL BUSINEhistory →COM0.76%$11M97.5K
52APDAIR PRODS & CHEMS INhistory →COM0.74%$11M53.0K
53TMOTHERMO FISHER SCIENThistory →COM0.74%$11M37.1K
54GSGOLDMAN SACHS GROUPhistory →COM0.73%$10M67.4K
55CVXCHEVRON CORP NEWhistory →COM0.73%$10M143.8K
56PMPHILIP MORRIS INTL Ihistory →COM0.70%$10M137.6K
57FDXFEDEX CORPCOM0.65%$9M76.9K
58BMYBRISTOL-MYERS SQUIBBCOM · RIGHT 99/99/99990.64%$9M189.7K
59LMTLOCKHEED MARTIN CORPCOM0.63%$9M26.7K
60CCITIGROUP INCCOM NEW0.62%$9M210.8K
61UPSUNITED PARCEL SERVICCL B0.62%$9M94.1K
62HONHONEYWELL INTL INCCOM0.62%$9M65.7K
63MSMORGAN STANLEYCOM NEW0.61%$9M257.7K
64MOALTRIA GROUP INCCOM0.59%$8M216.9K
65SYFSYNCHRONY FINLCOM0.57%$8M503.4K
66NSCNORFOLK SOUTHERN CORCOM0.57%$8M55.5K
67ADMARCHER DANIELS MIDLACOM0.56%$8M225.9K
68COPCONOCOPHILLIPSCOM0.54%$8M250.1K
69METAFACEBOOK INCCL A0.53%$8M45.7K
70EXMOCEXXON MOBIL CORPCOM0.53%$8M200.3K
71LINDE PLCSHS0.50%$7M40.9K
72COFCAPITAL ONE FINL CORCOM0.47%$7M133.2K
73ABBVABBVIE INCCOM0.47%$7M87.7K
74IAC INTERACTIVECORPCOM0.46%$7M36.6K
75TMTOYOTA MOTOR CORPSP ADR REP2COM0.45%$6M53.9K
76MMM3M COCOM0.45%$6M46.6K
77VVISA INCCOM CL A0.37%$5M33.1K
78BURLBURLINGTON STORES INCOM0.37%$5M32.9K
79HSYHERSHEY COCOM0.36%$5M39.2K
80MDTMEDTRONIC PLCSHS0.35%$5M55.0K
81BSXBOSTON SCIENTIFIC COCOM0.34%$5M147.4K
82DDDUPONT DE NEMOURS INCOM0.33%$5M137.3K
83UNPUNION PAC CORPCOM0.33%$5M33.0K
84ROYAL DUTCH SHELL PLSPONS ADR A · SPON ADR B0.32%$5M134.2K
85TAKTAKEDA PHARMACEUTICASPONSORED ADS0.32%$5M303.3K
86CMGCHIPOTLE MEXICAN GRICOM0.31%$4M6.8K
87MCKMCKESSON CORPCOM0.31%$4M32.9K
88LDOSLEIDOS HOLDINGS INCCOM0.31%$4M48.0K
89PSXPHILLIPS 66COM0.30%$4M78.7K
90ELANELANCO ANIMAL HEALTHCOM0.29%$4M184.7K
91WFCWELLS FARGO CO NEWCOM0.29%$4M141.6K
92SLMSLM CORPCOM0.28%$4M550.3K
93WBAWALGREENS BOOTS ALLICOM0.27%$4M84.5K
94BRK/BBERKSHIRE HATHAWAY ICL B NEW0.27%$4M21.0K
95ABTABBOTT LABSCOM0.26%$4M47.3K
96CTVACORTEVA INCCOM0.25%$4M152.6K
97LHXL3HARRIS TECHNOLOGIECOM0.25%$4M19.8K
98RAYTHEON COCOM NEW0.24%$3M26.1K
99SLBSCHLUMBERGER LTDCOM0.24%$3M251.2K
100DOWDOW INCCOM0.24%$3M114.7K

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 ↗.