SEC 13F Intelligence

Managers / Q3 2022 · view latest →

HERITAGE INVESTORS MANAGEMENT CORP

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

Reported Value
$2.0B
Q3 2022
Positions
252
Filings on Record
30
2019–present window
Filed
Oct 27, 2022
original filing

Summary

Heritage Investors Management Corp reported $2.0B in U.S.-listed holdings across 252 positions for Q3 2022.

Its largest position, AAPL, represents 5.8% of the portfolio.

Compared with Q2 2022, the fund opened 8 new positions and exited 12.

Portfolio Metrics

Turnover
+1.2%
vs prior filed quarter
Top-10 Concentration
+28.0%
share of reported value
Largest Position
+5.8%
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: 90.8%ETP: 6.1%REIT: 1.7%ADR: 0.9%Other: 0.5%Closed-End Fund: 0.0%
  • Common Stock · 90.8% · $1.8B
  • ETP · 6.1% · $120M
  • REIT · 1.7% · $34M
  • ADR · 0.9% · $17M
  • Other · 0.5% · $11M
  • Closed-End Fund · 0.0% · $85,000

Quarter-over-Quarter Changes full breakdown →

vs Q2 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
VTEBVANGUARD MUN BD FDSNEW+25.6K25.6K+$1M$1M
VTIVANGUARD INDEX FDSNEW+2.2K2.2K+$392,000$392,000
SHVISHARES TRNEW+3.6K3.6K+$392,000$392,000
JPSTJ P MORGAN EXCHANGE TRADED FNEW+6.3K6.3K+$319,000$319,000
XBISPDR SER TRNEW+3.0K3.0K+$238,000$238,000
COHRCOHERENT CORPNEW+6.8K6.8K+$236,000$236,000
EMREMERSON ELEC CONEW+3.0K3.0K+$223,000$223,000
TSLATESLA INCNEW+759759+$201,000$201,000

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

Holdings — Q3 2022

234 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AAPLAPPLE INChistory →COM5.79%$115M831.3K
2GOOGLALPHABET INCCAP STK CL A · CAP STK CL C4.18%$83M865.9K
3MSFTMICROSOFT CORPhistory →COM3.91%$78M333.5K
4PANWPALO ALTO NETWORKS INChistory →COM2.69%$53M325.6K
5MAMASTERCARD INCORPORATEDhistory →CL A2.21%$44M154.6K
6VBVANGUARD INDEX FDSSMALL CP ETF · MID CAP ETF · S&P 500 ETF SHS · TOTAL STK MKT2.21%$44M239.5K
7MARMARRIOTT INTL INC NEWhistory →CL A1.86%$37M263.9K
8HDHOME DEPOT INChistory →COM1.79%$36M129.0K
9AMZNAMAZON COM INChistory →COM1.71%$34M300.8K
10AVGOBROADCOM INChistory →COM1.61%$32M71.8K
11UNHUNITEDHEALTH GROUP INChistory →COM1.59%$32M62.5K
12IEFAISHARES 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 · SHORT TREAS BD · RUS 1000 GRW ETF · GL CLEAN ENE ETF · S&P MC 400VL ETF · PFD AND INCM SEC1.51%$30M475.0K
13DISDISNEY WALT COhistory →COM1.39%$28M292.8K
14WMTWALMART INChistory →COM1.39%$28M212.1K
15MCDMCDONALDS CORPhistory →COM1.38%$27M118.5K
16CATCATERPILLAR INChistory →COM1.37%$27M166.1K
17CSCOCISCO SYS INChistory →COM1.34%$27M666.4K
18JNJJOHNSON & JOHNSONhistory →COM1.32%$26M159.8K
19STZCONSTELLATION BRANDS INChistory →CL A1.30%$26M112.4K
20MRKMERCK & CO INChistory →COM1.30%$26M298.8K
21AXPAMERICAN EXPRESS COhistory →COM1.28%$25M188.0K
22JPMJPMORGAN CHASE & COhistory →COM1.24%$25M236.4K
23ZTSZOETIS INChistory →CL A1.23%$24M164.9K
24MLMMARTIN MARIETTA MATLS INChistory →COM1.22%$24M75.1K
25NKENIKE INChistory →CL B1.20%$24M286.1K
26CRMSALESFORCE INChistory →COM1.19%$24M163.9K
27MDYSPDR S&P MIDCAP 400 ETF TRhistory →UTSER1 S&PDCRP1.17%$23M57.6K
28CVXCHEVRON CORP NEWhistory →COM1.15%$23M158.6K
29COPCONOCOPHILLIPShistory →COM1.05%$21M203.2K
30RTXRAYTHEON TECHNOLOGIES CORPhistory →COM1.04%$21M251.5K
31YUMCYUM CHINA HLDGS INChistory →COM1.01%$20M422.4K
32TMOTHERMO FISHER SCIENTIFIC INChistory →COM1.00%$20M39.0K
33MSMORGAN STANLEYhistory →COM NEW1.00%$20M250.3K
34BLACKROCK INCCOM0.99%$20M35.7K
35GSGOLDMAN SACHS GROUP INChistory →COM0.98%$20M66.7K
36ADPAUTOMATIC DATA PROCESSING INhistory →COM0.95%$19M83.4K
37BACBK OF AMERICA CORPhistory →COM0.95%$19M623.3K
38TROWPRICE T ROWE GROUP INChistory →COM0.92%$18M174.5K
39PEPPEPSICO INChistory →COM0.89%$18M107.6K
40AMTAMERICAN TOWER CORP NEWhistory →COM0.86%$17M79.4K
41PFEPFIZER INChistory →COM0.82%$16M371.8K
42AMGNAMGEN INChistory →COM0.81%$16M71.7K
43YUMYUM BRANDS INChistory →COM0.79%$16M147.5K
44EQIXEQUINIX INChistory →COM0.78%$15M27.2K
45ZBHZIMMER BIOMET HOLDINGS INChistory →COM0.77%$15M147.0K
46KOCOCA COLA COhistory →COM0.77%$15M271.5K
47VZVERIZON COMMUNICATIONS INChistory →COM0.75%$15M389.9K
48CSXCSX CORPhistory →COM0.74%$15M552.6K
49CCITIGROUP INChistory →COM NEW0.73%$15M348.5K
50APDAIR PRODS & CHEMS INChistory →COM0.72%$14M61.6K
51INTCINTEL CORPhistory →COM0.70%$14M536.5K
52COFCAPITAL ONE FINL CORPhistory →COM0.69%$14M148.6K
53SYFSYNCHRONY FINANCIALhistory →COM0.69%$14M483.0K
54FDXFEDEX CORPhistory →COM0.67%$13M89.9K
55UPSUNITED PARCEL SERVICE INChistory →CL B0.67%$13M81.8K
56VEUVANGUARD INTL EQUITY INDEX FALLWRLD EX US · FTSE EMR MKT ETF0.64%$13M308.1K
57PCARPACCAR INChistory →COM0.62%$12M145.8K
58ADMARCHER DANIELS MIDLAND COhistory →COM0.61%$12M150.0K
59PGPROCTER AND GAMBLE COhistory →COM0.60%$12M93.6K
60SPLUNK INCCOM0.59%$12M154.8K
61BMYBRISTOL-MYERS SQUIBB COhistory →COM0.57%$11M158.1K
62CMGCHIPOTLE MEXICAN GRILL INChistory →COM0.56%$11M7.4K
63BABOEING COhistory →COM0.56%$11M91.7K
64HONHONEYWELL INTL INChistory →COM0.54%$11M64.5K
65CMCSACOMCAST CORP NEWhistory →CL A0.54%$11M363.0K
66ABBVABBVIE INChistory →COM0.53%$11M78.9K
67LMTLOCKHEED MARTIN CORPhistory →COM0.53%$10M27.1K
68LDOSLEIDOS HOLDINGS INCCOM0.49%$10M111.2K
69EXMOCEXXON MOBIL CORPCOM0.49%$10M111.3K
70BSXBOSTON SCIENTIFIC CORPCOM0.48%$9M244.6K
71NSCNORFOLK SOUTHN CORPCOM0.48%$9M45.2K
72TAT&T INCCOM0.47%$9M602.5K
73PMPHILIP MORRIS INTL INCCOM0.46%$9M109.5K
74LINDE PLCSHS0.45%$9M33.3K
75DDDUPONT DE NEMOURS INCCOM0.44%$9M175.0K
76COSTCOSTCO WHSL CORP NEWCOM0.44%$9M18.4K
77PYPLPAYPAL HLDGS INCCOM0.43%$9M99.0K
78MCKMCKESSON CORPCOM0.43%$8M24.9K
79ACNACCENTURE PLC IRELANDSHS CLASS A0.41%$8M31.4K
80VVISA INCCOM CL A0.39%$8M43.9K
81NEENEXTERA ENERGY INCCOM0.38%$8M96.8K
82PSXPHILLIPS 66COM0.37%$7M91.9K
83IBMINTERNATIONAL BUSINESS MACHSCOM0.36%$7M59.7K
84IQVIQVIA HLDGS INCCOM0.35%$7M38.8K
85SLBSCHLUMBERGER LTDCOM STK0.33%$6M179.7K
86MDLZMONDELEZ INTL INCCL A0.32%$6M116.8K
87HSYHERSHEY COCOM0.32%$6M28.7K
88TMTOYOTA MOTOR CORPADS0.32%$6M48.5K
89LHXL3HARRIS TECHNOLOGIES INCCOM0.32%$6M30.1K
90NOWSERVICENOW INCCOM0.30%$6M15.8K
91METAMETA PLATFORMS INCCL A0.30%$6M43.9K
92NVDANVIDIA CORPORATIONCOM0.28%$6M46.5K
93UNPUNION PAC CORPCOM0.28%$6M28.2K
94SHELSHELL PLCSPON ADS0.27%$5M107.4K
95BRK/BBERKSHIRE HATHAWAY INC DELCL B NEW0.26%$5M19.6K
96AERAERCAP HOLDINGS NVSHS0.26%$5M121.7K
97MDTMEDTRONIC PLCSHS0.26%$5M63.5K
98EOGEOG RES INCCOM0.26%$5M45.6K
99BURLBURLINGTON STORES INCCOM0.25%$5M44.7K
100CTVACORTEVA INCCOM0.24%$5M82.5K

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 ↗.