SEC 13F Intelligence

Managers / Q4 2024 · view latest →

HERITAGE INVESTORS MANAGEMENT CORP

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

Reported Value
$3.1B
Q4 2024
Positions
255
Filings on Record
30
2019–present window
Filed
Feb 5, 2025
original filing

Summary

Heritage Investors Management Corp reported $3.1B in U.S.-listed holdings across 255 positions for Q4 2024.

Its largest position, AAPL, represents 5.9% of the portfolio.

Compared with Q3 2024, the fund opened 11 new positions and exited 10.

Portfolio Metrics

Turnover
+4.6%
vs prior filed quarter
Top-10 Concentration
+34.2%
share of reported value
Largest Position
+5.9%
Apple
New / Exited
11 / 10
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: 91.1%ETP: 5.5%REIT: 1.5%Other: 1.2%ADR: 0.6%MLP: 0.0%
  • Common Stock · 91.1% · $2.8B
  • ETP · 5.5% · $170M
  • REIT · 1.5% · $47M
  • Other · 1.2% · $39M
  • ADR · 0.6% · $19M
  • MLP · 0.0% · $685,000

Quarter-over-Quarter Changes full breakdown →

vs Q3 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
BLACKROCK INCNEW+37.6K37.6K+$39M$39M
IWDISHARES TRNEW+2.0K2.0K+$372,000$372,000
SANDY SPRING BANCORP INCNEW+8.3K8.3K+$281,000$281,000
PPGPPG INDS INCNEW+2.1K2.1K+$251,000$251,000
ICSHISHARES TRNEW+4.7K4.7K+$237,000$237,000
ALLEALLEGION PLCNEW+1.8K1.8K+$229,000$229,000
LOWLOWES COS INCNEW+918918+$227,000$227,000
CRWDCROWDSTRIKE HLDGS INCNEW+659659+$225,000$225,000

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

Holdings — Q4 2024

230 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AAPLAPPLE INChistory →COM5.95%$184M736.1K
2GOOGLALPHABET INCCAP STK CL A · CAP STK CL C5.02%$155M818.7K
3AVGOBROADCOM INChistory →COM4.48%$139M599.0K
4MSFTMICROSOFT CORPhistory →COM4.12%$128M303.1K
5PANWPALO ALTO NETWORKS INChistory →COM3.42%$106M582.6K
6AMZNAMAZON COM INChistory →COM2.32%$72M328.0K
7MAMASTERCARD INCORPORATEDhistory →CL A2.30%$71M135.5K
8NVDANVIDIA CORPORATIONhistory →COM2.23%$69M513.7K
9VBVANGUARD INDEX FDSSMALL CP ETF · MID CAP ETF · S&P 500 ETF SHS · TOTAL STK MKT · LARGE CAP ETF · GROWTH ETF2.22%$69M256.8K
10MARMARRIOTT INTL INC NEWhistory →CL A2.10%$65M233.1K
11CRMSALESFORCE INChistory →COM1.90%$59M176.0K
12JPMJPMORGAN CHASE & CO.history →COM1.65%$51M213.1K
13HDHOME DEPOT INChistory →COM1.63%$50M129.6K
14AXPAMERICAN EXPRESS COhistory →COM1.58%$49M165.4K
15WMTWALMART INChistory →COM1.55%$48M531.0K
16CATCATERPILLAR INChistory →COM1.52%$47M129.7K
17DISDISNEY WALT COhistory →COM1.43%$44M397.7K
18CSCOCISCO SYS INChistory →COM1.30%$40M678.9K
19IEFAISHARES TRCORE MSCI EAFE · MSCI EAFE ETF · CORE S&P MCP ETF · CORE S&P SCP ETF · RUSSELL 2000 ETF · RUS MID CAP ETF · MSCI EMG MKT ETF · RUS 1000 GRW ETF · RUS 2000 GRW ETF · RUS 1000 VAL ETF · SHRT NAT MUN ETF · S&P MC 400VL ETF · S&P MC 400GR ETF · CORE S&P500 ETF · SP SMCP600VL ETF · BLACKROCK ULTRA · GL CLEAN ENE ETF · S&P SML 600 GWT1.29%$40M498.3K
20BLACKROCK INCCOM1.24%$39M37.6K
21GSGOLDMAN SACHS GROUP INChistory →COM1.16%$36M62.7K
22UNHUNITEDHEALTH GROUP INChistory →COM1.12%$35M68.3K
23MLMMARTIN MARIETTA MATLS INChistory →COM1.06%$33M63.8K
24BACBANK AMERICA CORPhistory →COM1.05%$32M738.5K
25MSMORGAN STANLEYhistory →COM NEW1.05%$32M257.7K
26RTXRTX CORPORATIONhistory →COM1.01%$31M269.6K
27MCDMCDONALDS CORPhistory →COM1.01%$31M107.5K
28MRKMERCK & CO INChistory →COM0.98%$30M305.6K
29SYFSYNCHRONY FINANCIALhistory →COM0.98%$30M467.3K
30ZTSZOETIS INChistory →CL A0.97%$30M185.1K
31MDYSPDR S&P MIDCAP 400 ETF TRhistory →UTSER1 S&PDCRP0.96%$30M52.0K
32STZCONSTELLATION BRANDS INChistory →CL A0.92%$28M128.3K
33NKENIKE INChistory →CL B0.87%$27M356.1K
34EQIXEQUINIX INChistory →COM0.86%$27M28.2K
35FDXFEDEX CORPhistory →COM0.84%$26M92.3K
36JNJJOHNSON & JOHNSONhistory →COM0.83%$26M177.0K
37TMOTHERMO FISHER SCIENTIFIC INChistory →COM0.82%$25M48.9K
38CMGCHIPOTLE MEXICAN GRILL INChistory →COM0.81%$25M415.2K
39COFCAPITAL ONE FINL CORPhistory →COM0.80%$25M139.8K
40NOWSERVICENOW INChistory →COM0.80%$25M23.3K
41ADBEADOBE INChistory →COM0.77%$24M53.5K
42CVXCHEVRON CORP NEWhistory →COM0.76%$23M161.7K
43CCITIGROUP INChistory →COM NEW0.75%$23M328.9K
44ADPAUTOMATIC DATA PROCESSING INhistory →COM0.71%$22M74.9K
45COSTCOSTCO WHSL CORP NEWhistory →COM0.68%$21M23.0K
46BABOEING COhistory →COM0.68%$21M118.2K
47YUMCYUM CHINA HLDGS INChistory →COM0.67%$21M430.0K
48TROWPRICE T ROWE GROUP INChistory →COM0.66%$21M181.8K
49COPCONOCOPHILLIPShistory →COM0.66%$20M206.5K
50PEPPEPSICO INChistory →COM0.65%$20M131.8K
51AMTAMERICAN TOWER CORP NEWhistory →COM0.63%$20M106.9K
52ACNACCENTURE PLC IRELANDhistory →SHS CLASS A0.60%$19M53.1K
53APDAIR PRODS & CHEMS INChistory →COM0.60%$19M64.1K
54PCARPACCAR INChistory →COM0.57%$18M170.6K
55METAMETA PLATFORMS INChistory →CL A0.56%$17M29.8K
56BSXBOSTON SCIENTIFIC CORPhistory →COM0.56%$17M195.2K
57KOCOCA COLA COhistory →COM0.56%$17M278.2K
58IQVIQVIA HLDGS INChistory →COM0.56%$17M87.7K
59CSXCSX CORPhistory →COM0.55%$17M532.4K
60YUMYUM BRANDS INChistory →COM0.53%$17M123.5K
61VZVERIZON COMMUNICATIONS INChistory →COM0.53%$16M412.1K
62ZBHZIMMER BIOMET HOLDINGS INChistory →COM0.52%$16M151.6K
63AMGNAMGEN INChistory →COM0.50%$15M59.1K
64TAT&T INChistory →COM0.49%$15M670.2K
65VEUVANGUARD INTL EQUITY INDEX FALLWRLD EX US · FTSE EMR MKT ETF0.49%$15M293.1K
66CMCSACOMCAST CORP NEWhistory →CL A0.47%$15M390.4K
67LDOSLEIDOS HOLDINGS INChistory →COM0.46%$14M97.9K
68HONHONEYWELL INTL INChistory →COM0.45%$14M61.6K
69VVISA INChistory →COM CL A0.44%$14M43.0K
70PGPROCTER AND GAMBLE COhistory →COM0.42%$13M78.2K
71BURLBURLINGTON STORES INChistory →COM0.42%$13M45.2K
72PFEPFIZER INChistory →COM0.41%$13M478.2K
73NEENEXTERA ENERGY INChistory →COM0.40%$12M174.2K
74ABBVABBVIE INChistory →COM0.40%$12M69.6K
75PYPLPAYPAL HLDGS INChistory →COM0.40%$12M144.2K
76MCKMCKESSON CORPhistory →COM0.39%$12M21.2K
77DDDUPONT DE NEMOURS INChistory →COM0.38%$12M154.4K
78LMTLOCKHEED MARTIN CORPhistory →COM0.37%$11M23.5K
79IBMINTERNATIONAL BUSINESS MACHShistory →COM0.37%$11M51.8K
80EXMOCEXXON MOBIL CORPhistory →COM0.36%$11M103.1K
81LINLINDE PLChistory →SHS0.35%$11M25.9K
82UPSUNITED PARCEL SERVICE INChistory →CL B0.34%$10M82.4K
83INTCINTEL CORPCOM0.32%$10M492.1K
84NSCNORFOLK SOUTHN CORPCOM0.30%$9M40.2K
85PSXPHILLIPS 66COM0.30%$9M82.4K
86AERAERCAP HOLDINGS NVSHS0.29%$9M94.7K
87BMYBRISTOL-MYERS SQUIBB COCOM0.29%$9M159.6K
88TMTOYOTA MOTOR CORPADS0.29%$9M46.2K
89SLBSCHLUMBERGER LTDCOM STK0.28%$9M228.6K
90MDLZMONDELEZ INTL INCCL A0.28%$9M142.8K
91BRK/BBERKSHIRE HATHAWAY INC DELCL B NEW0.27%$8M18.6K
92ADMARCHER DANIELS MIDLAND COCOM0.26%$8M160.5K
93PMPHILIP MORRIS INTL INCCOM0.23%$7M59.1K
94UNPUNION PAC CORPCOM0.22%$7M29.9K
95MSTRMICROSTRATEGY INCCL A NEW0.21%$6M22.2K
96LHXL3HARRIS TECHNOLOGIES INCCOM0.20%$6M30.1K
97IEMGISHARES INCCORE MSCI EMKT · MSCI EMERG MRKT0.20%$6M117.0K
98SHELSHELL PLCSPON ADS0.19%$6M96.0K
99TGTTARGET CORPCOM0.19%$6M44.5K
100MDTMEDTRONIC PLCSHS0.19%$6M75.0K

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 ↗.