SEC 13F Intelligence

Managers / Q1 2021 · view latest →

HERITAGE INVESTORS MANAGEMENT CORP

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

Reported Value
$2.3B
Q1 2021
Positions
259
Filings on Record
30
2019–present window
Filed
Apr 23, 2021
original filing

Summary

Heritage Investors Management Corp reported $2.3B in U.S.-listed holdings across 259 positions for Q1 2021.

Its largest position, AAPL, represents 4.7% of the portfolio.

Compared with Q4 2020, the fund opened 8 new positions and exited 12.

Portfolio Metrics

Turnover
+1.1%
vs prior filed quarter
Top-10 Concentration
+25.9%
share of reported value
Largest Position
+4.7%
Apple
New / Exited
8 / 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: 89.4%ETP: 6.7%REIT: 1.6%Other: 1.3%ADR: 1.0%
  • Common Stock · 89.4% · $2.0B
  • ETP · 6.7% · $151M
  • REIT · 1.6% · $36M
  • Other · 1.3% · $29M
  • ADR · 1.0% · $22M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
VTRSVIATRIS INCNEW+44.7K44.7K+$624,000$624,000
APAAPA CORPORATIONNEW+26.6K26.6K+$477,000$477,000
HOLLYFRONTIER CORPNEW+7.7K7.7K+$275,000$275,000
CCMPCMC MATERIALS INCNEW+1.3K1.3K+$233,000$233,000
IJSISHARES TRNEW+2.1K2.1K+$212,000$212,000
VTVVANGUARD INDEX FDSNEW+1.6K1.6K+$206,000$206,000
WDWALKER & DUNLOP INCNEW+2.0K2.0K+$205,000$205,000
IJTISHARES TRNEW+1.6K1.6K+$205,000$205,000

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

Holdings — Q1 2021

233 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AAPLAPPLE INChistory →COM4.73%$107M874.2K
2GOOGLALPHABET INCCAP STK CL A · CAP STK CL C4.08%$92M44.6K
3MSFTMICROSOFT CORPhistory →COM3.51%$79M336.1K
4MAMASTERCARD INCORPORAhistory →CL A2.41%$54M152.7K
5VBVANGUARD INDEX FDSSMALL CP ETF · MID CAP ETF · S&P 500 ETF SHS · TOTAL STK MKT · LARGE CAP ETF · VALUE ETF2.23%$50M226.2K
6DISDISNEY WALT COhistory →COM2.01%$45M245.4K
7MARMARRIOTT INTL INC NEhistory →CL A1.80%$41M274.8K
8HDHOME DEPOT INChistory →COM1.74%$39M128.5K
9IEFAISHARES TRCORE MSCI EAFE · MSCI EAFE ETF · RUSSELL 2000 ETF · CORE S&P SCP ETF · CORE S&P MCP ETF · MSCI EMG MKT ETF · RUS MID CAP ETF · US TREAS BD ETF · CORE S&P500 ETF · IBOXX INV CP ETF · PFD AND INCM SEC · S&P MC 400VL ETF · S&P MC 400GR ETF · RUS 2000 GRW ETF · SP SMCP600VL ETF · S&P SML 600 GWT1.72%$39M465.9K
10CATCATERPILLAR INChistory →COM1.70%$38M165.0K
11AMZNAMAZON COM INChistory →COM1.68%$38M12.2K
12PANWPALO ALTO NETWORKS Ihistory →COM1.59%$36M111.6K
13INTCINTEL CORPhistory →COM1.55%$35M547.8K
14NKENIKE INChistory →CL B1.55%$35M263.1K
15CSCOCISCO SYS INChistory →COM1.55%$35M673.8K
16JPMJPMORGAN CHASE & COhistory →COM1.53%$35M226.8K
17MDYSPDR S&P MIDCAP 400history →UTSER1 S&PDCRP1.47%$33M69.5K
18AVGOBROADCOM INChistory →COM1.41%$32M68.6K
19MCDMCDONALDS CORPhistory →COM1.31%$30M132.0K
20TROWPRICE T ROWE GROUP Ihistory →COM1.30%$29M171.2K
21AXPAMERICAN EXPRESS COhistory →COM1.30%$29M207.6K
22JNJJOHNSON & JOHNSONhistory →COM1.28%$29M176.3K
23CRMSALESFORCE COM INChistory →COM1.28%$29M135.8K
24MLMMARTIN MARIETTA MATLhistory →COM1.27%$29M85.2K
25ZTSZOETIS INChistory →CL A1.21%$27M173.8K
26STZCONSTELLATION BRANDShistory →CL A1.20%$27M118.6K
27WMTWALMART INChistory →COM1.20%$27M198.7K
28UNHUNITEDHEALTH GROUP Ihistory →COM1.17%$26M71.0K
29BLACKROCK INCCOM1.10%$25M32.8K
30BACBK OF AMERICA CORPhistory →COM1.03%$23M598.2K
31CCITIGROUP INChistory →COM NEW1.01%$23M314.4K
32YUMCYUM CHINA HLDGS INChistory →COM1.01%$23M385.4K
33AMGNAMGEN INChistory →COM0.98%$22M89.1K
34RTXRAYTHEON TECHNOLOGIEhistory →COM0.98%$22M286.6K
35MRKMERCK & CO. INChistory →COM0.96%$22M282.1K
36GSGOLDMAN SACHS GROUPhistory →COM0.96%$22M66.3K
37FDXFEDEX CORPhistory →COM0.96%$22M76.0K
38VZVERIZON COMMUNICATIOhistory →COM0.95%$21M368.0K
39MSMORGAN STANLEYhistory →COM NEW0.90%$20M259.9K
40BABOEING COhistory →COM0.86%$19M75.9K
41SYFSYNCHRONY FINANCIALhistory →COM0.85%$19M471.7K
42CSXCSX CORPhistory →COM0.85%$19M197.8K
43CVXCHEVRON CORP NEWhistory →COM0.84%$19M180.5K
44PEPPEPSICO INChistory →COM0.83%$19M132.9K
45ZBHZIMMER BIOMET HOLDINhistory →COM0.83%$19M116.7K
46COFCAPITAL ONE FINL CORhistory →COM0.80%$18M142.4K
47AMTAMERICAN TOWER CORPhistory →COM0.80%$18M75.7K
48CMCSACOMCAST CORP NEWhistory →CL A0.79%$18M328.9K
49TAT&T INChistory →COM0.78%$18M578.9K
50VEUVANGUARD INTL EQUITYALLWRLD EX US · FTSE EMR MKT ETF0.75%$17M293.9K
51ADPAUTOMATIC DATA PROCEhistory →COM0.75%$17M89.3K
52TMOTHERMO FISHER SCIENThistory →COM0.75%$17M36.9K
53EQIXEQUINIX INChistory →COM0.73%$17M24.3K
54YUMYUM BRANDS INChistory →COM0.73%$16M152.5K
55APDAIR PRODS & CHEMS INhistory →COM0.72%$16M57.6K
56KOCOCA COLA COhistory →COM0.71%$16M302.0K
57PCARPACCAR INChistory →COM0.70%$16M169.4K
58UPSUNITED PARCEL SERVIChistory →CL B0.66%$15M87.5K
59HONHONEYWELL INTL INChistory →COM0.63%$14M65.8K
60PFEPFIZER INChistory →COM0.63%$14M390.0K
61METAFACEBOOK INChistory →CL A0.62%$14M47.6K
62PGPROCTER AND GAMBLE Chistory →COM0.62%$14M103.0K
63SPLUNK INCCOM0.60%$13M99.5K
64NSCNORFOLK SOUTHN CORPhistory →COM0.59%$13M49.3K
65DDDUPONT DE NEMOURS INhistory →COM0.56%$13M162.7K
66IAC INTERACTIVECORPCOM0.53%$12M55.6K
67COPCONOCOPHILLIPShistory →COM0.53%$12M225.8K
68PMPHILIP MORRIS INTL Ihistory →COM0.50%$11M126.7K
69LDOSLEIDOS HOLDINGS INChistory →COM0.50%$11M116.4K
70IBMINTERNATIONAL BUSINEhistory →COM0.49%$11M83.4K
71MTCHMATCH GROUP INC NEWhistory →COM0.49%$11M79.8K
72LMTLOCKHEED MARTIN CORPhistory →COM0.48%$11M29.3K
73LINDE PLCSHS0.48%$11M38.5K
74BURLBURLINGTON STORES INhistory →COM0.48%$11M36.1K
75ADMARCHER DANIELS MIDLAhistory →COM0.47%$11M184.4K
76BMYBRISTOL-MYERS SQUIBBhistory →COM0.46%$10M164.6K
77ABBVABBVIE INCCOM0.42%$10M88.4K
78EXKEXACT SCIENCES CORPCOM0.41%$9M70.4K
79CMGCHIPOTLE MEXICAN GRICOM0.40%$9M6.4K
80BSXBOSTON SCIENTIFIC COCOM0.40%$9M233.3K
81VVISA INCCOM CL A0.39%$9M41.3K
82MOALTRIA GROUP INCCOM0.38%$9M169.1K
83TMTOYOTA MOTOR CORPSP ADR REP2COM0.35%$8M50.4K
84PSXPHILLIPS 66COM0.35%$8M96.3K
85MMM3M COCOM0.35%$8M40.5K
86AERAERCAP HOLDINGS NVSHS0.31%$7M120.0K
87EXMOCEXXON MOBIL CORPCOM0.31%$7M125.9K
88MDTMEDTRONIC PLCSHS0.31%$7M58.4K
89MDLZMONDELEZ INTL INCCL A0.30%$7M115.2K
90ALGNALIGN TECHNOLOGY INCCOM0.30%$7M12.4K
91UNPUNION PAC CORPCOM0.28%$6M29.1K
92LHXL3HARRIS TECHNOLOGIECOM0.28%$6M31.1K
93SLMSLM CORPCOM0.28%$6M349.7K
94TAKTAKEDA PHARMACEUTICASPONSORED ADS0.26%$6M324.0K
95MCKMCKESSON CORPCOM0.26%$6M30.1K
96HSYHERSHEY COCOM0.26%$6M36.8K
97REZIRESIDEO TECHNOLOGIESCOM0.25%$6M199.9K
98BRK/BBERKSHIRE HATHAWAY ICL B NEW0.23%$5M20.7K
99IEMGISHARES INCCORE MSCI EMKT0.23%$5M82.3K
100TGTTARGET CORPCOM0.23%$5M26.6K

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 ↗.