SEC 13F Intelligence

Managers / Q2 2020 · view latest →

HERITAGE INVESTORS MANAGEMENT CORP

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

Reported Value
$1.7B
Q2 2020
Positions
262
Filings on Record
30
2019–present window
Filed
Jul 24, 2020
original filing

Summary

Heritage Investors Management Corp reported $1.7B in U.S.-listed holdings across 262 positions for Q2 2020.

Its largest position, AAPL, represents 4.9% of the portfolio.

Compared with Q1 2020, the fund opened 48 new positions and exited 5.

Portfolio Metrics

Turnover
+1.6%
vs prior filed quarter
Top-10 Concentration
+26.1%
share of reported value
Largest Position
+4.9%
Apple
New / Exited
48 / 5
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: 89.7%ETP: 6.6%REIT: 1.7%ADR: 1.2%Other: 0.8%Other: 0.0%
  • Common Stock · 89.7% · $1.5B
  • ETP · 6.6% · $114M
  • REIT · 1.7% · $30M
  • ADR · 1.2% · $21M
  • Other · 0.8% · $13M
  • Other · 0.0% · $437,000

Quarter-over-Quarter Changes full breakdown →

vs Q1 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
RTXRAYTHEON TECHNOLOGIENEW+250.8K250.8K+$15M$15M
OTISOTIS WORLDWIDE CORPNEW+66.1K66.1K+$4M$4M
EXKEXACT SCIENCES CORPNEW+38.4K38.4K+$3M$3M
CARRCARRIER GLOBAL CORPONEW+94.7K94.7K+$2M$2M
RPDRAPID7 INCNEW+35.1K35.1K+$2M$2M
HWMHOWMET AEROSPACE INCNEW+87.4K87.4K+$1M$1M
TRNTRINITY INDS INCNEW+17.5K17.5K+$372,000$372,000
MTRNMATERION CORPNEW+5.8K5.8K+$358,000$358,000

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

Holdings — Q2 2020

243 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AAPLAPPLE INChistory →COM4.90%$84M231.0K
2MSFTMICROSOFT CORPhistory →COM3.93%$68M332.6K
3GOOGLALPHABET INCCAP STK CL A · CAP STK CL C3.70%$64M44.9K
4MAMASTERCARD INCORPORAhistory →CL A2.65%$46M154.0K
5INTCINTEL CORPhistory →COM2.00%$34M575.4K
6VBVANGUARD INDEX FDSSMALL CP ETF · MID CAP ETF · S&P 500 ETF SHS · TOTAL STK MKT · LARGE CAP ETF1.90%$33M216.1K
7HDHOME DEPOT INChistory →COM1.87%$32M128.2K
8CSCOCISCO SYS INChistory →COM1.78%$31M656.3K
9IEFAISHARES TRCORE MSCI EAFE · MSCI EAFE ETF · RUSSELL 2000 ETF · MSCI EMG MKT ETF · CORE S&P MCP ETF · CORE S&P SCP ETF · RUS MID CAP ETF · US TREAS BD ETF · IBOXX INV CP ETF · CORE S&P500 ETF · PFD AND INCM SEC1.77%$30M483.0K
10DISDISNEY WALT COhistory →COM DISNEY1.65%$28M254.9K
11AMZNAMAZON COM INChistory →COM1.63%$28M10.2K
12NKENIKE INChistory →CL B1.51%$26M264.4K
13JNJJOHNSON & JOHNSONhistory →COM1.48%$26M181.5K
14ZTSZOETIS INChistory →CL A1.48%$25M185.8K
15MDYSPDR S&P MIDCAP 400history →UTSER1 S&PDCRP1.47%$25M77.9K
16MCDMCDONALDS CORPhistory →COM1.44%$25M134.0K
17WMTWALMART INChistory →COM1.42%$24M204.4K
18MARMARRIOTT INTL INC NEhistory →CL A1.39%$24M279.4K
19CATCATERPILLAR INC DELhistory →COM1.39%$24M188.5K
20TROWPRICE T ROWE GROUP Ihistory →COM1.34%$23M187.3K
21PANWPALO ALTO NETWORKS Ihistory →COM1.34%$23M100.1K
22AMGNAMGEN INChistory →COM1.28%$22M93.6K
23JPMJPMORGAN CHASE & COhistory →COM1.28%$22M234.2K
24AVGOBROADCOM INChistory →COM1.27%$22M69.4K
25UNHUNITEDHEALTH GROUP Ihistory →COM1.25%$21M72.8K
26CRMSALESFORCE COM INChistory →COM1.25%$21M114.5K
27VZVERIZON COMMUNICATIOhistory →COM1.23%$21M382.7K
28AXPAMERICAN EXPRESS COhistory →COM1.22%$21M221.0K
29STZCONSTELLATION BRANDShistory →CL A1.21%$21M119.0K
30MRKMERCK & CO. INChistory →COM1.18%$20M262.0K
31MLMMARTIN MARIETTA MATLhistory →COM1.12%$19M93.0K
32YUMCYUM CHINA HLDGS INChistory →COM1.08%$19M387.8K
33PEPPEPSICO INChistory →COM1.06%$18M138.5K
34BLACKROCK INCCOM1.02%$18M32.4K
35TAT&T INChistory →COM1.00%$17M569.8K
36RTXRAYTHEON TECHNOLOGIEhistory →COM0.90%$15M250.8K
37EQIXEQUINIX INChistory →COM0.89%$15M21.9K
38CSXCSX CORPhistory →COM0.87%$15M214.2K
39PCARPACCAR INChistory →COM0.85%$15M195.4K
40ZBHZIMMER BIOMET HOLDINhistory →COM0.84%$14M121.2K
41BACBK OF AMERICA CORPhistory →COM0.84%$14M607.3K
42BABOEING COhistory →COM0.83%$14M77.7K
43YUMYUM BRANDS INChistory →COM0.81%$14M161.0K
44ADPAUTOMATIC DATA PROCEhistory →COM0.80%$14M92.4K
45VEUVANGUARD INTL EQUITYALLWRLD EX US · FTSE EMR MKT ETF0.79%$14M305.5K
46GSGOLDMAN SACHS GROUPhistory →COM0.78%$13M67.5K
47TMOTHERMO FISHER SCIENThistory →COM0.77%$13M36.7K
48CMCSACOMCAST CORP NEWhistory →CL A0.77%$13M339.4K
49PFEPFIZER INChistory →COM0.76%$13M402.0K
50AMTAMERICAN TOWER CORPhistory →COM0.76%$13M50.8K
51CVXCHEVRON CORP NEWhistory →COM0.75%$13M143.8K
52PGPROCTER AND GAMBLE Chistory →COM0.74%$13M107.0K
53KOCOCA COLA COhistory →COM0.73%$13M281.8K
54APDAIR PRODS & CHEMS INhistory →COM0.73%$13M52.1K
55MSMORGAN STANLEYhistory →COM NEW0.73%$13M260.4K
56CCITIGROUP INChistory →COM NEW0.72%$12M241.3K
57IAC INTERACTIVECORPCOM0.68%$12M36.3K
58IBMINTERNATIONAL BUSINEhistory →COM0.68%$12M97.3K
59SYFSYNCHRONY FINANCIALhistory →COM0.64%$11M498.9K
60FDXFEDEX CORPhistory →COM0.63%$11M77.3K
61COPCONOCOPHILLIPShistory →COM0.62%$11M252.3K
62UPSUNITED PARCEL SERVIChistory →CL B0.60%$10M93.3K
63METAFACEBOOK INChistory →CL A0.59%$10M45.1K
64HONHONEYWELL INTL INChistory →COM0.59%$10M69.7K
65NSCNORFOLK SOUTHERN CORCOM0.58%$10M56.6K
66LMTLOCKHEED MARTIN CORPCOM0.57%$10M27.0K
67BMYBRISTOL-MYERS SQUIBBCOM · RIGHT 99/99/99990.57%$10M192.0K
68PMPHILIP MORRIS INTL ICOM0.56%$10M136.9K
69COFCAPITAL ONE FINL CORCOM0.52%$9M143.6K
70ADMARCHER DANIELS MIDLACOM0.52%$9M223.6K
71EXMOCEXXON MOBIL CORPCOM0.51%$9M197.2K
72DDDUPONT DE NEMOURS INCOM0.51%$9M164.2K
73LINDE PLCSHS0.50%$9M40.7K
74ABBVABBVIE INCCOM0.49%$8M86.2K
75MOALTRIA GROUP INCCOM0.49%$8M214.1K
76MMM3M COCOM0.42%$7M46.0K
77CMGCHIPOTLE MEXICAN GRICOM0.41%$7M6.8K
78LDOSLEIDOS HOLDINGS INCCOM0.41%$7M75.9K
79BURLBURLINGTON STORES INCOM0.40%$7M35.3K
80TMTOYOTA MOTOR CORPSP ADR REP2COM0.39%$7M52.9K
81VVISA INCCOM CL A0.38%$7M34.1K
82BSXBOSTON SCIENTIFIC COCOM0.37%$6M181.5K
83PSXPHILLIPS 66COM0.33%$6M79.2K
84TAKTAKEDA PHARMACEUTICASPONSORED ADS0.32%$6M308.5K
85SPLUNK INCCOM0.32%$5M27.6K
86MDTMEDTRONIC PLCSHS0.31%$5M59.0K
87UNPUNION PAC CORPCOM0.31%$5M32.0K
88HSYHERSHEY COCOM0.30%$5M39.3K
89MCKMCKESSON CORPCOM0.29%$5M32.2K
90SLBSCHLUMBERGER LTDCOM0.26%$5M247.0K
91ROYAL DUTCH SHELL PLSPONS ADR A · SPON ADR B0.26%$4M138.8K
92ABTABBOTT LABSCOM0.25%$4M47.5K
93MDLZMONDELEZ INTL INCCL A0.24%$4M81.8K
94BRK/BBERKSHIRE HATHAWAY ICL B NEW0.24%$4M22.8K
95ELANELANCO ANIMAL HEALTHCOM0.23%$4M187.4K
96ALGNALIGN TECHNOLOGY INCCOM0.23%$4M14.5K
97IEMGISHARES INCCORE MSCI EMKT0.22%$4M80.8K
98BF/BBROWN FORMAN CORPCL B0.22%$4M59.5K
99LHXL3HARRIS TECHNOLOGIECOM0.22%$4M22.3K
100OTISOTIS WORLDWIDE CORPCOM0.22%$4M66.1K

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 ↗.