SEC 13F Intelligence

Managers / Q1 2025 · view latest →

HERITAGE INVESTORS MANAGEMENT CORP

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

Reported Value
$2.9B
Q1 2025
Positions
254
Filings on Record
30
2019–present window
Filed
May 5, 2025
original filing

Summary

Heritage Investors Management Corp reported $2.9B in U.S.-listed holdings across 254 positions for Q1 2025.

Its largest position, AAPL, represents 5.6% of the portfolio.

Compared with Q4 2024, the fund opened 9 new positions and exited 10.

Portfolio Metrics

Turnover
+3.9%
vs prior filed quarter
Top-10 Concentration
+31.3%
share of reported value
Largest Position
+5.6%
Apple
New / Exited
9 / 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: 92.3%ETP: 5.4%REIT: 1.6%ADR: 0.6%MLP: 0.0%
  • Common Stock · 92.3% · $2.7B
  • ETP · 5.4% · $157M
  • REIT · 1.6% · $47M
  • ADR · 0.6% · $19M
  • MLP · 0.0% · $746,000

Quarter-over-Quarter Changes full breakdown →

vs Q4 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
BLKBLACKROCK INCNEW+39.4K39.4K+$37M$37M
SAICSCIENCE APPLICATIONS INTL CONEW+4.9K4.9K+$552,000$552,000
CMECME GROUP INCNEW+1.1K1.1K+$298,000$298,000
VYMVANGUARD WHITEHALL FDSNEW+2.0K2.0K+$258,000$258,000
TXNTEXAS INSTRS INCNEW+1.3K1.3K+$240,000$240,000
GDGENERAL DYNAMICS CORPNEW+873873+$238,000$238,000
OPCHOPTION CARE HEALTH INCNEW+6.4K6.4K+$224,000$224,000
IGSBISHARES TRNEW+4.3K4.3K+$224,000$224,000

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

Holdings — Q1 2025

232 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AAPLAPPLE INChistory →COM5.57%$162M730.8K
2GOOGLALPHABET INCCAP STK CL A · CAP STK CL C4.38%$128M821.7K
3MSFTMICROSOFT CORPhistory →COM3.92%$114M304.4K
4AVGOBROADCOM INChistory →COM3.44%$100M599.8K
5PANWPALO ALTO NETWORKS INChistory →COM3.41%$99M582.4K
6MAMASTERCARD INCORPORATEDhistory →CL A2.51%$73M133.4K
7AMZNAMAZON COM INChistory →COM2.16%$63M330.9K
8VBVANGUARD INDEX FDSSMALL CP ETF · MID CAP ETF · TOTAL STK MKT · S&P 500 ETF SHS · LARGE CAP ETF · GROWTH ETF2.07%$60M245.2K
9NVDANVIDIA CORPORATIONhistory →COM1.94%$57M522.9K
10MARMARRIOTT INTL INC NEWhistory →CL A1.90%$55M232.1K
11JPMJPMORGAN CHASE & CO.history →COM1.75%$51M208.3K
12HDHOME DEPOT INChistory →COM1.66%$48M132.2K
13CRMSALESFORCE INChistory →COM1.63%$48M177.2K
14WMTWALMART INChistory →COM1.58%$46M525.3K
15AXPAMERICAN EXPRESS COhistory →COM1.52%$44M165.3K
16CATCATERPILLAR INChistory →COM1.46%$43M129.0K
17CSCOCISCO SYS INChistory →COM1.42%$41M669.5K
18DISDISNEY WALT COhistory →COM1.37%$40M405.9K
19IEFAISHARES TRCORE MSCI EAFE · MSCI EAFE ETF · CORE S&P MCP ETF · CORE S&P SCP ETF · RUSSELL 2000 ETF · MSCI EMG MKT ETF · RUS MID CAP ETF · RUS 1000 GRW ETF · RUS 2000 GRW ETF · SHRT NAT MUN ETF · CORE S&P500 ETF · S&P MC 400VL ETF · S&P MC 400GR ETF · GL CLEAN ENE ETF · ISHS 1-5YR INVS · SP SMCP600VL ETF1.34%$39M491.3K
20UNHUNITEDHEALTH GROUP INChistory →COM1.34%$39M74.4K
21BLKBLACKROCK INChistory →COM1.28%$37M39.4K
22RTXRTX CORPORATIONhistory →COM1.20%$35M264.8K
23GSGOLDMAN SACHS GROUP INChistory →COM1.15%$34M61.5K
24MCDMCDONALDS CORPhistory →COM1.14%$33M106.2K
25ZTSZOETIS INChistory →CL A1.10%$32M195.1K
26MLMMARTIN MARIETTA MATLS INChistory →COM1.08%$32M66.2K
27BACBANK AMERICA CORPhistory →COM1.05%$31M736.2K
28MSMORGAN STANLEYhistory →COM NEW1.01%$29M252.0K
29JNJJOHNSON & JOHNSONhistory →COM1.00%$29M175.6K
30MRKMERCK & CO INChistory →COM0.99%$29M320.8K
31MDYSPDR S&P MIDCAP 400 ETF TRhistory →UTSER1 S&PDCRP0.94%$27M51.5K
32CVXCHEVRON CORP NEWhistory →COM0.92%$27M160.6K
33TMOTHERMO FISHER SCIENTIFIC INChistory →COM0.88%$26M51.6K
34STZCONSTELLATION BRANDS INChistory →CL A0.87%$25M138.2K
35COFCAPITAL ONE FINL CORPhistory →COM0.84%$24M136.6K
36SYFSYNCHRONY FINANCIALhistory →COM0.84%$24M460.5K
37FDXFEDEX CORPhistory →COM0.83%$24M99.0K
38NKENIKE INChistory →CL B0.82%$24M374.5K
39AMTAMERICAN TOWER CORP NEWhistory →COM0.80%$23M107.1K
40ADBEADOBE INChistory →COM0.79%$23M60.1K
41EQIXEQUINIX INChistory →COM0.79%$23M28.2K
42CCITIGROUP INChistory →COM NEW0.78%$23M321.3K
43CMGCHIPOTLE MEXICAN GRILL INChistory →COM0.77%$23M449.3K
44COSTCOSTCO WHSL CORP NEWhistory →COM0.76%$22M23.4K
45YUMCYUM CHINA HLDGS INChistory →COM0.75%$22M422.3K
46ADPAUTOMATIC DATA PROCESSING INhistory →COM0.75%$22M71.9K
47COPCONOCOPHILLIPShistory →COM0.74%$22M206.5K
48PEPPEPSICO INChistory →COM0.74%$22M144.0K
49NOWSERVICENOW INChistory →COM0.71%$21M26.1K
50BABOEING COhistory →COM0.69%$20M117.6K
51KOCOCA COLA COhistory →COM0.68%$20M275.4K
52YUMYUM BRANDS INChistory →COM0.65%$19M120.2K
53APDAIR PRODS & CHEMS INChistory →COM0.65%$19M63.8K
54BSXBOSTON SCIENTIFIC CORPhistory →COM0.64%$19M186.4K
55TAT&T INChistory →COM0.64%$19M663.1K
56VZVERIZON COMMUNICATIONS INChistory →COM0.64%$19M410.0K
57AMGNAMGEN INChistory →COM0.62%$18M58.1K
58ACNACCENTURE PLC IRELANDhistory →SHS CLASS A0.60%$18M56.5K
59METAMETA PLATFORMS INChistory →CL A0.60%$17M30.3K
60ZBHZIMMER BIOMET HOLDINGS INChistory →COM0.59%$17M151.7K
61IQVIQVIA HLDGS INChistory →COM0.57%$17M94.8K
62TROWPRICE T ROWE GROUP INChistory →COM0.57%$17M181.9K
63PCARPACCAR INChistory →COM0.56%$16M168.9K
64CSXCSX CORPhistory →COM0.54%$16M538.3K
65VEUVANGUARD INTL EQUITY INDEX FALLWRLD EX US · FTSE EMR MKT ETF0.53%$16M286.5K
66VVISA INChistory →COM CL A0.50%$15M41.8K
67CMCSACOMCAST CORP NEWhistory →CL A0.50%$15M394.7K
68LDOSLEIDOS HOLDINGS INChistory →COM0.49%$14M106.5K
69ABBVABBVIE INChistory →COM0.49%$14M67.8K
70MCKMCKESSON CORPhistory →COM0.48%$14M20.6K
71PGPROCTER AND GAMBLE COhistory →COM0.46%$13M78.2K
72HONHONEYWELL INTL INChistory →COM0.45%$13M62.2K
73IBMINTERNATIONAL BUSINESS MACHShistory →COM0.43%$13M50.5K
74NEENEXTERA ENERGY INChistory →COM0.42%$12M174.3K
75EXMOCEXXON MOBIL CORPhistory →COM0.41%$12M100.8K
76PFEPFIZER INChistory →COM0.41%$12M469.0K
77LINLINDE PLChistory →SHS0.40%$12M25.3K
78DDDUPONT DE NEMOURS INChistory →COM0.40%$12M154.5K
79LMTLOCKHEED MARTIN CORPhistory →COM0.39%$11M25.4K
80INTCINTEL CORPhistory →COM0.38%$11M493.0K
81BURLBURLINGTON STORES INChistory →COM0.38%$11M46.5K
82SLBSCHLUMBERGER LTDhistory →COM STK0.37%$11M257.4K
83PSXPHILLIPS 66history →COM0.35%$10M82.5K
84MDLZMONDELEZ INTL INCCL A0.33%$10M143.3K
85BRK/BBERKSHIRE HATHAWAY INC DELCL B NEW0.33%$10M18.2K
86NSCNORFOLK SOUTHN CORPCOM0.32%$9M39.7K
87BMYBRISTOL-MYERS SQUIBB COCOM0.32%$9M153.9K
88PYPLPAYPAL HLDGS INCCOM0.32%$9M143.0K
89AERAERCAP HOLDINGS NVSHS0.32%$9M91.0K
90UPSUNITED PARCEL SERVICE INCCL B0.30%$9M80.2K
91TMTOYOTA MOTOR CORPADS0.28%$8M46.1K
92ADMARCHER DANIELS MIDLAND COCOM0.26%$8M158.8K
93PMPHILIP MORRIS INTL INCCOM0.25%$7M45.4K
94UNPUNION PAC CORPCOM0.24%$7M29.8K
95SHELSHELL PLCSPON ADS0.24%$7M95.6K
96MDTMEDTRONIC PLCSHS0.22%$7M72.7K
97MSTRMICROSTRATEGY INCCL A NEW0.22%$6M22.3K
98LHXL3HARRIS TECHNOLOGIES INCCOM0.22%$6M30.4K
99IEMGISHARES INCCORE MSCI EMKT0.21%$6M115.4K
100EOGEOG RES INCCOM0.20%$6M44.6K

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 ↗.