SEC 13F Intelligence

Managers / Q2 2025 · view latest →

HERITAGE INVESTORS MANAGEMENT CORP

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

Reported Value
$3.2B
Q2 2025
Positions
252
Filings on Record
30
2019–present window
Filed
Aug 4, 2025
original filing

Summary

Heritage Investors Management Corp reported $3.2B in U.S.-listed holdings across 252 positions for Q2 2025.

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

Compared with Q1 2025, the fund opened 10 new positions and exited 12.

Portfolio Metrics

Turnover
+2.9%
vs prior filed quarter
Top-10 Concentration
+33.7%
share of reported value
Largest Position
+4.9%
Broadcom
New / Exited
10 / 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: 92.6%ETP: 5.3%REIT: 1.5%ADR: 0.6%MLP: 0.0%Other: 0.0%
  • Common Stock · 92.6% · $2.9B
  • ETP · 5.3% · $167M
  • REIT · 1.5% · $48M
  • ADR · 0.6% · $19M
  • MLP · 0.0% · $678,000
  • Other · 0.0% · $95,000

Quarter-over-Quarter Changes full breakdown →

vs Q1 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
BRK/ABERKSHIRE HATHAWAY INC DELNEW+11+$729,000$729,000
WFCWELLS FARGO CO NEWNEW+4.1K4.1K+$327,000$327,000
SKYHSKY HARBOUR GROUP CORPORATIONEW+30.8K30.8K+$301,000$301,000
ANGIANGI INCNEW+17.8K17.8K+$271,000$271,000
AUBATLANTIC UN BANKSHARES CORPNEW+7.5K7.5K+$235,000$235,000
EEMVISHARES INCNEW+3.4K3.4K+$214,000$214,000
IJTISHARES TRNEW+1.6K1.6K+$213,000$213,000
IGIBISHARES TRNEW+4.0K4.0K+$211,000$211,000

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

Holdings — Q2 2025

227 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AVGOBROADCOM INChistory →COM4.94%$156M566.4K
2AAPLAPPLE INChistory →COM4.71%$149M726.5K
3MSFTMICROSOFT CORPhistory →COM4.62%$146M293.6K
4GOOGLALPHABET INCCAP STK CL A · CAP STK CL C4.57%$145M817.7K
5PANWPALO ALTO NETWORKS INChistory →COM3.67%$116M566.6K
6NVDANVIDIA CORPORATIONhistory →COM2.55%$81M511.0K
7MAMASTERCARD INCORPORATEDhistory →CL A2.32%$73M130.7K
8AMZNAMAZON COM INChistory →COM2.28%$72M328.6K
9MARMARRIOTT INTL INC NEWhistory →CL A2.01%$64M232.7K
10VBVANGUARD INDEX FDSSMALL CP ETF · MID CAP ETF · TOTAL STK MKT · S&P 500 ETF SHS · LARGE CAP ETF2.01%$63M240.7K
11JPMJPMORGAN CHASE & CO.history →COM1.87%$59M204.0K
12AXPAMERICAN EXPRESS COhistory →COM1.65%$52M164.1K
13CATCATERPILLAR INChistory →COM1.60%$51M130.4K
14HDHOME DEPOT INChistory →COM1.60%$51M137.8K
15WMTWALMART INChistory →COM1.59%$50M515.4K
16DISDISNEY WALT COhistory →COM1.59%$50M406.3K
17CRMSALESFORCE INChistory →COM1.56%$49M181.5K
18CSCOCISCO SYS INChistory →COM1.44%$45M655.1K
19GSGOLDMAN SACHS GROUP INChistory →COM1.36%$43M60.6K
20IEFAISHARES 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 · S&P MC 400VL ETF · CORE S&P500 ETF · S&P MC 400GR ETF · GL CLEAN ENE ETF · SP SMCP600VL ETF · S&P SML 600 GWT · ISHS 5-10YR INVT · ISHS 1-5YR INVS1.34%$42M490.8K
21BLKBLACKROCK INChistory →COM1.32%$42M39.7K
22RTXRTX CORPORATIONhistory →COM1.19%$38M257.7K
23MLMMARTIN MARIETTA MATLS INChistory →COM1.14%$36M65.6K
24MSMORGAN STANLEYhistory →COM NEW1.10%$35M246.1K
25BACBANK AMERICA CORPhistory →COM1.09%$35M731.5K
26COFCAPITAL ONE FINL CORPhistory →COM1.04%$33M154.1K
27MCDMCDONALDS CORPhistory →COM0.97%$31M104.9K
28ZTSZOETIS INChistory →CL A0.97%$31M196.5K
29SYFSYNCHRONY FINANCIALhistory →COM0.96%$30M453.3K
30MDYSPDR S&P MIDCAP 400 ETF TRhistory →UTSER1 S&PDCRP0.91%$29M50.9K
31NOWSERVICENOW INChistory →COM0.86%$27M26.4K
32CCITIGROUP INChistory →COM NEW0.85%$27M315.7K
33JNJJOHNSON & JOHNSONhistory →COM0.85%$27M175.7K
34CMGCHIPOTLE MEXICAN GRILL INChistory →COM0.83%$26M466.6K
35MRKMERCK & CO INChistory →COM0.82%$26M328.9K
36NKENIKE INChistory →CL B0.82%$26M365.7K
37UNHUNITEDHEALTH GROUP INChistory →COM0.78%$25M79.4K
38ADBEADOBE INChistory →COM0.77%$24M63.2K
39BABOEING COhistory →COM0.76%$24M115.1K
40AMTAMERICAN TOWER CORP NEWhistory →COM0.76%$24M108.1K
41STZCONSTELLATION BRANDS INChistory →CL A0.76%$24M146.8K
42FDXFEDEX CORPhistory →COM0.73%$23M102.1K
43EQIXEQUINIX INChistory →COM0.73%$23M29.1K
44CVXCHEVRON CORP NEWhistory →COM0.73%$23M161.0K
45TMOTHERMO FISHER SCIENTIFIC INChistory →COM0.73%$23M56.6K
46COSTCOSTCO WHSL CORP NEWhistory →COM0.72%$23M22.9K
47METAMETA PLATFORMS INChistory →CL A0.71%$23M30.6K
48ADPAUTOMATIC DATA PROCESSING INhistory →COM0.69%$22M70.7K
49PEPPEPSICO INChistory →COM0.64%$20M153.8K
50BSXBOSTON SCIENTIFIC CORPhistory →COM0.60%$19M178.2K
51KOCOCA COLA COhistory →COM0.60%$19M266.9K
52TAT&T INChistory →COM0.60%$19M651.4K
53YUMCYUM CHINA HLDGS INChistory →COM0.59%$19M420.6K
54ACNACCENTURE PLC IRELANDhistory →SHS CLASS A0.59%$19M62.6K
55COPCONOCOPHILLIPShistory →COM0.58%$18M206.1K
56APDAIR PRODS & CHEMS INChistory →COM0.58%$18M65.3K
57CSXCSX CORPhistory →COM0.56%$18M540.4K
58VZVERIZON COMMUNICATIONS INChistory →COM0.56%$18M406.3K
59YUMYUM BRANDS INChistory →COM0.55%$17M117.9K
60VEUVANGUARD INTL EQUITY INDEX FALLWRLD EX US · FTSE EMR MKT ETF0.53%$17M282.4K
61TROWPRICE T ROWE GROUP INChistory →COM0.53%$17M174.0K
62LDOSLEIDOS HOLDINGS INChistory →COM0.53%$17M106.0K
63IQVIQVIA HLDGS INChistory →COM0.52%$17M104.7K
64PCARPACCAR INChistory →COM0.51%$16M169.2K
65AMGNAMGEN INChistory →COM0.51%$16M57.6K
66MCKMCKESSON CORPhistory →COM0.48%$15M20.5K
67VVISA INChistory →COM CL A0.46%$14M40.6K
68IBMINTERNATIONAL BUSINESS MACHShistory →COM0.45%$14M48.7K
69HONHONEYWELL INTL INChistory →COM0.45%$14M61.7K
70CMCSACOMCAST CORP NEWhistory →CL A0.45%$14M398.6K
71LMTLOCKHEED MARTIN CORPhistory →COM0.43%$14M29.5K
72ZBHZIMMER BIOMET HOLDINGS INChistory →COM0.43%$14M148.6K
73PGPROCTER AND GAMBLE COhistory →COM0.40%$13M78.7K
74ABBVABBVIE INChistory →COM0.40%$13M67.4K
75NEENEXTERA ENERGY INChistory →COM0.38%$12M175.3K
76LINLINDE PLChistory →SHS0.37%$12M25.0K
77PFEPFIZER INChistory →COM0.36%$11M465.1K
78INTCINTEL CORPhistory →COM0.35%$11M497.8K
79BURLBURLINGTON STORES INChistory →COM0.34%$11M46.2K
80EXMOCEXXON MOBIL CORPhistory →COM0.34%$11M99.4K
81DDDUPONT DE NEMOURS INChistory →COM0.34%$11M154.9K
82PYPLPAYPAL HLDGS INChistory →COM0.33%$11M141.5K
83AERAERCAP HOLDINGS NVhistory →SHS0.32%$10M86.1K
84NSCNORFOLK SOUTHN CORPhistory →COM0.32%$10M39.3K
85PSXPHILLIPS 66COM0.31%$10M82.4K
86BRK/BBERKSHIRE HATHAWAY INC DELCL B NEW · CL A0.31%$10M18.7K
87MDLZMONDELEZ INTL INCCL A0.30%$10M142.4K
88DDOGDATADOG INCCL A COM0.29%$9M67.9K
89SLBSCHLUMBERGER LTDCOM STK0.28%$9M265.3K
90MSTRMICROSTRATEGY INCCL A NEW0.28%$9M22.0K
91ADMARCHER DANIELS MIDLAND COCOM0.26%$8M156.7K
92TMTOYOTA MOTOR CORPADS0.25%$8M46.1K
93UPSUNITED PARCEL SERVICE INCCL B0.25%$8M78.3K
94LHXL3HARRIS TECHNOLOGIES INCCOM0.24%$8M30.1K
95PMPHILIP MORRIS INTL INCCOM0.23%$7M40.6K
96UNPUNION PAC CORPCOM0.23%$7M31.5K
97IEMGISHARES INCCORE MSCI EMKT · MSCI EMERG MRKT0.23%$7M119.9K
98BMYBRISTOL-MYERS SQUIBB COCOM0.22%$7M153.5K
99SHELSHELL PLCSPON ADS0.21%$7M93.6K
100MDTMEDTRONIC PLCSHS0.20%$6M70.9K

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 ↗.