CIK: 0000937589
Total reported value
$3.3B
Reporting period: 2026-03-31 · Number of holdings: 249
HERITAGE INVESTORS MANAGEMENT CORP disclosed 249 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $3.3B and a quarterly turnover rate of 12.9%.
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Heritage Investors Management CORP's disclosed holdings carry a Herfindahl concentration index of 0.017 — mathematically equivalent to about 59 equally-sized positions, well below its 249 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.80), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Trim MSFT
+0.9% -$32.2M
Add CAT
-3.5% $13.4M
Trim AVGO
-0.3% -$19.2M
Trim CRM
+2.5% -$14.1M
Trim AAPL
-2.1% -$16.6M
Add CVX
-3.1% $7.6M
Showing top 200 holdings (of 249 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | AAPL | Apple INC | Stock-Tech | 5.33% | -0.27% | -2.13% | |
| 2 | AVGO | Broadcom INC | Stock-Tech | 4.78% | -0.37% | -0.33% | |
| 3 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 3.39% | -0.22% | -1.88% | |
| 4 | MSFT | Microsoft CORP | Stock-Tech | 3.31% | -0.80% | +0.87% | |
| 5 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 3.17% | -0.24% | -2.12% | |
| 6 | PANW | Palo Alto Networks INC | Stock-Tech | 2.76% | -0.25% | +1.11% | |
| 7 | NVDA | Nvidia CORP | Stock-Tech | 2.59% | -0.13% | -2.24% | |
| 8 | CAT | Caterpillar INC | Stock-Industrials | 2.50% | +0.49% | -3.46% | |
| 9 | MAR | Marriott International -cl A | Stock-Consumer Disc | 2.21% | — | -1.63% | |
| 10 | AMZN | Amazon.com INC | Stock-Consumer Disc | 2.12% | -0.09% | +2.01% | |
| 11 | MA | Mastercard INC - A | Stock-Financials | 1.96% | -0.17% | +0.64% | |
| 12 | WMT | Walmart INC | Stock-Consumer Staples | 1.80% | +0.20% | -2.82% | |
| 13 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.70% | -0.09% | -0.23% | |
| 14 | CSCO | Cisco Systems INC | Stock-Tech | 1.50% | — | -0.52% | |
| 15 | GS | Goldman Sachs Group INC | Stock-Financials | 1.43% | — | -1.61% | |
| 16 | AXP | American Express Co | Stock-Financials | 1.42% | -0.25% | -0.30% | |
| 17 | HD | Home Depot INC | Stock-Consumer Disc | 1.41% | — | +0.94% | |
| 18 | RTX | Rtx CORP | Stock-Industrials | 1.39% | — | -2.75% | |
| 19 | JNJ | Johnson & Johnson | Stock-Healthcare | 1.24% | +0.20% | -3.35% | |
| 20 | DIS | Walt Disney Co/the | Stock-Comm Services | 1.22% | -0.15% | +0.80% | |
| 21 | MRK | Merck & Co. INC. | Stock-Healthcare | 1.21% | +0.19% | +0.18% | |
| 22 | BLK | Blackrock INC | Stock-Financials | 1.17% | -0.05% | +2.73% | |
| 23 | VB | Vanguard Small-cap ETF | ETF-Other | 1.14% | — | -0.73% | |
| 24 | MS | Morgan Stanley | Stock-Financials | 1.12% | -0.05% | -1.02% | |
| 25 | MLM | Martin Marietta Materials | Stock-Materials | 1.11% | -0.05% | -2.41% | |
| 26 | CRM | Salesforce INC | Stock-Tech | 1.11% | -0.37% | +2.53% | |
| 27 | FDX | Fedex CORP | Stock-Industrials | 1.10% | +0.23% | -1.33% | |
| 28 | BAC | Bank Of America CORP | Stock-Financials | 1.07% | -0.09% | +0.04% | |
| 29 | C | Citigroup INC | Stock-Financials | 1.01% | — | -1.34% | |
| 30 | MCD | Mcdonald's CORP | Stock-Consumer Disc | 0.99% | — | +0.31% | |
| 31 | CVX | Chevron CORP | Stock-Energy | 0.97% | +0.27% | -3.08% | |
| 32 | MDY | State Street Spdr S&p Midcap | ETF-Other | 0.92% | — | -1.54% | |
| 33 | EQIX | Equinix INC | Stock-Real Estate | 0.88% | +0.20% | -2.19% | |
| 34 | SYF | Synchrony Financial | Stock-Financials | 0.85% | -0.17% | -1.36% | |
| 35 | TMO | Thermo Fisher Scientific INC | Stock-Healthcare | 0.85% | -0.10% | +0.98% | |
| 36 | COF | Capital One Financial CORP | Stock-Financials | 0.82% | -0.20% | +2.11% | |
| 37 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.81% | +0.13% | -0.21% | |
| 38 | COP | Conocophillips | Stock-Energy | 0.80% | +0.24% | -2.88% | |
| 39 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.75% | +0.11% | +29.31% | |
| 40 | ZTS | Zoetis INC | Stock-Healthcare | 0.75% | — | +2.20% | |
| 41 | PEP | Pepsico INC | Stock-Consumer Staples | 0.75% | — | +1.04% | |
| 42 | BA | Boeing Co/the | Stock-Industrials | 0.67% | — | -0.59% | |
| 43 | UNH | Unitedhealth Group INC | Stock-Healthcare | 0.66% | -0.10% | +2.34% | |
| 44 | CSX | Csx CORP | Stock-Industrials | 0.64% | — | -2.82% | |
| 45 | INTC | Intel CORP | Stock-Tech | 0.64% | +0.12% | -1.05% | |
| 46 | NOW | Servicenow INC | Stock-Tech | 0.62% | -0.18% | +9.28% | |
| 47 | KO | Coca-cola Co/the | Stock-Consumer Staples | 0.61% | — | -0.67% | |
| 48 | AMT | American Tower CORP | Stock-Real Estate | 0.61% | — | +0.36% | |
| 49 | VZ | Verizon Communications INC | Stock-Comm Services | 0.61% | +0.13% | -1.72% | |
| 50 | YUMC | Yum China Holdings INC | Stock-Consumer Disc | 0.60% | — | -1.06% |
Performance for Q3 2026
+1.3%
Performance Last 4 Quarters
+25.2%
Based on 80% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 249 | $3.3B | 13 | |
| 2025-12-31 | 245 | $3.4B | 9 | |
| 2025-09-30 | 251 | $3.3B | 18 | |
| 2025-06-30 | 252 | $3.2B | 0 | |
| 2025-03-31 | 254 | $2.9B | 100 | |
| 2024-12-31 | 255 | $3.1B | 0 | |
| 2024-09-30 | 254 | $3.0B | 0 | |
| 2024-06-30 | 252 | $2.9B | 0 | |
| 2024-03-31 | 255 | $2.8B | 0 | |
| 2023-12-31 | 248 | $2.6B | 0 | |
| 2023-09-30 | 246 | $2.4B | 0 | |
| 2023-06-30 | 244 | $2.5B | 0 | |
| 2023-03-31 | 249 | $2.3B | 0 | |
| 2022-12-31 | 261 | $2.2B | 0 | |
| 2022-09-30 | 252 | $2.0B | 0 | |
| 2022-06-30 | 256 | $2.1B | 0 | |
| 2022-03-31 | 274 | $2.5B | 0 | |
| 2021-12-31 | 276 | $2.6B | 0 | |
| 2021-09-30 | 276 | $2.4B | 0 | |
| 2021-06-30 | 267 | $2.4B | 97 | |
| 2021-03-31 | 259 | $2.3B | 9 | |
| 2020-12-31 | 263 | $2.1B | 15 | |
| 2020-09-30 | 260 | $1.9B | 13 | |
| 2020-06-30 | 262 | $1.7B | 22 | |
| 2020-03-31 | 219 | $1.4B | 29 | |
| 2019-12-31 | 208 | $1.9B | 10 | |
| 2019-09-30 | 207 | $1.8B | 8 | |
| 2019-06-30 | 212 | $1.7B | 10 | |
| 2019-03-31 | 206 | $1.7B | 14 | |
| 2018-12-31 | 181 | $1.5B | 18 | |
| 2018-09-30 | 186 | $1.7B | 10 | |
| 2018-06-30 | 184 | $1.6B | 9 | |
| 2018-03-31 | 186 | $1.6B | 9 | |
| 2017-12-31 | 190 | $1.7B | 10 | |
| 2017-09-30 | 196 | $1.6B | 11 | |
| 2017-06-30 | 193 | $1.5B | 7 | |
| 2017-03-31 | 189 | $1.5B | 7 | |
| 2016-12-31 | 184 | $1.4B | 11 | |
| 2016-09-30 | 179 | $1.4B | 9 | |
| 2016-06-30 | 177 | $1.3B | 7 | |
| 2016-03-31 | 173 | $1.3B | 7 | |
| 2015-12-31 | 182 | $1.3B | 15 | |
| 2015-09-30 | 175 | $1.2B | 11 | |
| 2015-06-30 | 182 | $1.3B | 5 | |
| 2015-03-31 | 172 | $1.3B | 7 | |
| 2014-12-31 | 154 | $1.3B | 7 | |
| 2014-09-30 | 151 | $1.2B | 6 | |
| 2014-06-30 | 153 | $1.2B | 9 | |
| 2014-03-31 | 151 | $1.2B | 6 | |
| 2013-12-31 | 159 | $1.2B | 10 | |
| 2013-09-30 | 156 | $1.1B | 7 | |
| 2013-06-30 | 163 | $1.0B | 0 |
Heritage Investors Management CORP's most significant position changes for 2026-03-31: Sold out: Exact Sciences CORP (EXK); Add: Microsoft CORP (MSFT) — shares +0.87%; Trim: Caterpillar INC (CAT) — shares -3.46%; Trim: Broadcom INC (AVGO) — shares -0.33%; Add: Salesforce INC (CRM) — shares +2.53%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | CAT | Caterpillar INC | +0.5% | -3.46% | Trim |
| 2 | CVX | Chevron CORP | +0.3% | -3.08% | Trim |
| 3 | COP | Conocophillips | +0.2% | -2.88% | Trim |
| 4 | FDX | Fedex CORP | +0.2% | -1.33% | Trim |
| 5 | EQIX | Equinix INC | +0.2% | -2.19% | Trim |
| 6 | JNJ | Johnson & Johnson | +0.2% | -3.35% | Trim |
| 7 | WMT | Walmart INC | +0.2% | -2.82% | Trim |
| 8 | MRK | Merck & Co. INC. | +0.2% | +0.18% | Add |
| 9 | XOM | Exxon Mobil CORP | +0.1% | -4.84% | Trim |
| 10 | COST | Costco Wholesale CORP | +0.1% | -0.21% | Trim |
| 11 | VZ | Verizon Communications INC | +0.1% | -1.72% | Trim |
| 12 | PSX | Phillips 66 | +0.1% | -4.65% | Trim |
| 13 | INTC | Intel CORP | +0.1% | -1.05% | Trim |
| 14 | SLB | Slb LTD | +0.1% | -2.68% | Trim |
| 15 | DDOG | Datadog INC - Class A | +0.1% | +51.45% | Add |
| 16 | LMT | Lockheed Martin CORP | +0.1% | -2.45% | Trim |
| 17 | APD | Air Products & Chemicals INC | +0.1% | -0.40% | Trim |
| 18 | META | Meta Platforms Inc-class A | +0.1% | +29.31% | Add |
| 19 | NFLX | Netflix INC | +0.1% | +84.73% | Add |
| 20 | MS | Morgan Stanley | -0.1% | -1.02% | Trim |
| 21 | BLK | Blackrock INC | -0.1% | +2.73% | Add |
| 22 | MLM | Martin Marietta Materials | -0.1% | -2.41% | Trim |
| 23 | IBM | Intl Business Machines CORP | -0.1% | -0.47% | Trim |
| 24 | ADP | Automatic Data Processing | -0.1% | +4.15% | Add |
| 25 | AMZN | Amazon.com INC | -0.1% | +2.01% | Add |
| 26 | JPM | Jpmorgan Chase & Co | -0.1% | -0.23% | Trim |
| 27 | BAC | Bank Of America CORP | -0.1% | +0.04% | Add |
| 28 | NKE | Nike INC -cl B | -0.1% | -0.11% | Trim |
| 29 | TMO | Thermo Fisher Scientific INC | -0.1% | +0.98% | Add |
| 30 | IQV | Iqvia Holdings INC | -0.1% | +7.09% | Add |
| 31 | UNH | Unitedhealth Group INC | -0.1% | +2.34% | Add |
| 32 | ACN | Accenture plc | -0.1% | +7.36% | Add |
| 33 | PYPL | Paypal Holdings INC | -0.1% | -36.11% | Trim |
| 34 | BSX | Boston Scientific CORP | -0.1% | +10.64% | Add |
| 35 | NVDA | Nvidia CORP | -0.1% | -2.24% | Trim |
| 36 | DIS | Walt Disney Co/the | -0.2% | +0.80% | Add |
| 37 | ADBE | Adobe INC | -0.2% | +2.22% | Add |
| 38 | MA | Mastercard INC - A | -0.2% | +0.64% | Add |
| 39 | SYF | Synchrony Financial | -0.2% | -1.36% | Trim |
| 40 | NOW | Servicenow INC | -0.2% | +9.28% | Add |
| 41 | COF | Capital One Financial CORP | -0.2% | +2.11% | Add |
| 42 | GOOGL | Alphabet Inc-cl A | -0.2% | -1.88% | Trim |
| 43 | GOOG | Alphabet Inc-cl C | -0.2% | -2.12% | Trim |
| 44 | PANW | Palo Alto Networks INC | -0.3% | +1.11% | Add |
| 45 | AXP | American Express Co | -0.3% | -0.30% | Trim |
| 46 | AAPL | Apple INC | -0.3% | -2.13% | Trim |
| 47 | AVGO | Broadcom INC | -0.4% | -0.33% | Trim |
| 48 | CRM | Salesforce INC | -0.4% | +2.53% | Add |
| 49 | MSFT | Microsoft CORP | -0.8% | +0.87% | Add |
| 50 | EXK | Exact Sciences CORP | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-04-24 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-06 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-04 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-04 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-05 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-05 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-10-30 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-07-30 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-04-29 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-07 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-09 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-01 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-01 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-06 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-10-27 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-01 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-02 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-01-28 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-10-28 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-07-29 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-04-23 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-01-28 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-10-29 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-07-24 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-06 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-01-14 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-10-18 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-07-11 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-04-09 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-01-28 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-06 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-07-19 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-11 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-07 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-10-20 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-07-11 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-04-17 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-01-12 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-10-21 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-07-15 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-04-13 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-01-15 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-10-13 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-07-20 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-04-15 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-01-27 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-10-08 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-07-10 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-04-07 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-12 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-08 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-02 | 13F-HR | View on EDGAR |
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