Heritage Investors Management Corp.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 5, 2025), Heritage Investors Management Corp. reported 255 stock positions worth $3.1 billion. Its top holding was Apple (AAPL) at 6.0% of the portfolio, followed by Broadcom (AVGO, 4.5%) and Microsoft (MSFT, 4.1%). Compared with Q3 2024, it opened 11 new positions, sold out of 10, added to 75 and reduced 126. The biggest buy was a new position in BlackRock and the biggest sale an exit from BlackRock Finance (BLK).
- Most Recent 13F
- Q2 2026
- Location
- BETHESDA, MD
- CIK
- 0000937589
- Portfolio Value
- $3.1B (Q4 2024)
- SEC Filing
- 0000937589-25-000001 ↗ filed Feb 5, 2025
Holdings Value
Holdings 255 stocks · $3.1B
| AAPL Apple Inc. | 5.95% | 736,090 | $184.3M | Add +0.6% |
| AVGO Broadcom Inc. | 4.48% | 598,990 | $138.9M | Reduce -1.5% |
| MSFT Microsoft Corp. | 4.12% | 303,135 | $127.8M | Add +0.3% |
| PANW Palo Alto Networks Inc. | 3.42% | 582,650 | $106.0M | Reduce -1.1% |
| GOOGL Alphabet Inc. Class A | 2.57% | 420,173 | $79.5M | Reduce -0.0% |
| GOOG Alphabet Inc. Class C | 2.45% | 398,574 | $75.9M | Reduce -0.5% |
| AMZN Amazon.com Inc. | 2.32% | 328,009 | $72.0M | Add +0.2% |
| MA Mastercard Inc. Class A | 2.30% | 135,545 | $71.4M | Reduce -0.8% |
| NVDA Nvidia Corp. | 2.23% | 513,672 | $69.0M | Reduce -1.7% |
| MAR Marriott International Class A | 2.10% | 233,119 | $65.0M | Reduce -1.1% |
| CRM Salesforce Inc. | 1.90% | 176,008 | $58.8M | Reduce -0.3% |
| JPM JPMorgan Chase & Co. | 1.65% | 213,069 | $51.1M | Reduce -0.6% |
| HD Home Depot Inc. | 1.63% | 129,596 | $50.4M | Reduce -0.3% |
| AXP American Express Co. | 1.58% | 165,391 | $49.1M | Reduce -2.1% |
| WMT Walmart Inc. | 1.55% | 531,026 | $48.0M | Reduce -1.4% |
| CAT Caterpillar Inc. | 1.52% | 129,700 | $47.0M | Reduce -0.6% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 1.43% | 397,711 | $44.3M | Add +0.0% |
| CSCO Cisco Systems Inc. | 1.30% | 678,913 | $40.2M | Reduce -0.5% |
| BLACKROCK INC | 1.24% | 37,562 | $38.5M | New |
| GS Goldman Sachs Group Inc. | 1.16% | 62,731 | $35.9M | Reduce -1.2% |
| VB Vanguard Most SM-Cap ETF-Usd | 1.16% | 149,013 | $35.8M | Reduce -0.9% |
| UNH Unitedhealth Group Inc. | 1.12% | 68,313 | $34.6M | Add +1.9% |
| MLM Martin Marietta Materials | 1.06% | 63,843 | $33.0M | Add +0.6% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.05% | 738,451 | $32.5M | Reduce -0.8% |
| MS Morgan Stanley | 1.05% | 257,717 | $32.4M | Reduce -1.3% |
| RTX RTX Corp. | 1.01% | 269,603 | $31.2M | Reduce -0.2% |
| MCD McDonald's Corp. | 1.01% | 107,460 | $31.2M | Reduce -0.0% |
| MRK Merck & Co. Inc. | 0.98% | 305,611 | $30.4M | Add +8.5% |
| SYF Synchrony Financial | 0.98% | 467,265 | $30.4M | Reduce -2.6% |
| ZTS Zoetis Inc. | 0.97% | 185,104 | $30.2M | Add +3.5% |
| MDY State Street SPDR S&P Midcap | 0.96% | 51,967 | $29.6M | Reduce -0.7% |
| STZ Constellation Brands Inc. Class A | 0.92% | 128,316 | $28.4M | Add +7.7% |
| NKE Nike Inc. Class B | 0.87% | 356,087 | $26.9M | Add +1.1% |
| EQIX Equinix Inc. | 0.86% | 28,210 | $26.6M | Add +0.4% |
| FDX FedEx Corp. | 0.84% | 92,322 | $26.0M | Add +0.9% |
| JNJ Johnson & Johnson | 0.83% | 177,029 | $25.6M | Add +2.2% |
| TMO Thermo Fisher Scientific Inc. | 0.82% | 48,904 | $25.4M | Add +13.1% |
| CMG Chipotle Mexican Grill Inc. | 0.81% | 415,163 | $25.0M | Add +0.9% |
| COF Capital One Financial Corp. | 0.80% | 139,826 | $24.9M | Reduce -1.6% |
| NOW ServiceNow Inc. | 0.80% | 23,266 | $24.7M | Add +0.2% |
| ADBE Adobe Inc. | 0.77% | 53,538 | $23.8M | Add +11.6% |
| CVX Chevron Corp. | 0.76% | 161,661 | $23.4M | Add +1.0% |
| C Citigroup Inc. | 0.75% | 328,936 | $23.2M | Reduce -2.0% |
| ADP Automatic Data Processing | 0.71% | 74,875 | $21.9M | Reduce -2.0% |
| COST Costco Wholesale Corp. | 0.68% | 23,034 | $21.1M | Reduce -0.6% |
| BA The Boeing Co. | 0.68% | 118,167 | $20.9M | Add +3.5% |
| YUMC Yum China Holdings Inc. | 0.67% | 429,971 | $20.7M | Reduce -1.4% |
| TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC | 0.66% | 181,823 | $20.6M | Reduce -3.2% |
| COP Conocophillips | 0.66% | 206,515 | $20.5M | Add +4.0% |
| PEP Pepsico Inc. | 0.65% | 131,760 | $20.0M | Add +12.6% |
| AMT American Tower Corp. | 0.63% | 106,870 | $19.6M | Add +3.9% |
| ACN Accenture PLC Class A | 0.60% | 53,131 | $18.7M | Add +2.4% |
| APD Air Products & Chemicals Inc. | 0.60% | 64,088 | $18.6M | Reduce -0.6% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.58% | 67,660 | $17.9M | Reduce -2.7% |
| PCAR Paccar Inc. | 0.57% | 170,626 | $17.7M | Reduce -0.6% |
| META Meta Platforms Inc. Class A | 0.56% | 29,795 | $17.4M | Reduce -0.7% |
| BSX Boston Scientific Corp. | 0.56% | 195,157 | $17.4M | Reduce -0.9% |
| KO The Coca-Cola Co. | 0.56% | 278,232 | $17.3M | Add +6.1% |
| IQV Iqvia Holdings Inc. | 0.56% | 87,744 | $17.2M | Add +9.6% |
| CSX CSX Corp. | 0.55% | 532,445 | $17.2M | Add +1.7% |
| YUM Yum! Brands Inc. | 0.53% | 123,496 | $16.6M | Add +0.2% |
| VZ Verizon Communications Inc. | 0.53% | 412,099 | $16.5M | Add +4.7% |
| ZBH Zimmer Biomet Holdings Inc. | 0.52% | 151,614 | $16.0M | Reduce -2.1% |
| AMGN Amgen Inc. | 0.50% | 59,130 | $15.4M | Add +0.2% |
| T AT&T Inc. | 0.49% | 670,238 | $15.3M | Reduce -1.4% |
| CMCSA Comcast Corp. Class A | 0.47% | 390,408 | $14.7M | Reduce -0.2% |
| LDOS Leidos Holdings Inc. | 0.46% | 97,856 | $14.1M | Add +2.9% |
| HON Honeywell International Inc. | 0.45% | 61,635 | $13.9M | Add +0.4% |
| V Visa Inc. Class A | 0.44% | 42,996 | $13.6M | Add +1.5% |
| PG The Procter & Gamble Co. | 0.42% | 78,235 | $13.1M | Reduce -0.9% |
| BURL Burlington Stores Inc. | 0.42% | 45,156 | $12.9M | Reduce -1.1% |
| PFE Pfizer Inc. | 0.41% | 478,218 | $12.7M | Reduce -9.0% |
| NEE Nextera Energy Inc. | 0.40% | 174,186 | $12.5M | Add +1.6% |
| ABBV Abbvie Inc. | 0.40% | 69,626 | $12.4M | Add +0.0% |
| PYPL PayPal Holdings Inc. | 0.40% | 144,152 | $12.3M | Reduce -2.2% |
| MCK McKesson Corp. | 0.39% | 21,224 | $12.1M | Add +0.2% |
| DD Dupont DE Nemours Inc. | 0.38% | 154,441 | $11.8M | Reduce -0.5% |
| LMT Lockheed Martin Corp. | 0.37% | 23,524 | $11.4M | Add +1.4% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.37% | 51,756 | $11.4M | Add +1.4% |
| XOM Exxon Mobil Corp. | 0.36% | 103,139 | $11.1M | Add +5.6% |
| LIN Linde PLC | 0.35% | 25,856 | $10.8M | Reduce -0.1% |
| IEFA iShares Core MSCI Eafe ETF | 0.35% | 152,629 | $10.7M | Add +1.2% |
| UPS United Parcel Service Class B | 0.34% | 82,448 | $10.4M | Add +0.6% |
| INTC Intel Corp. | 0.32% | 492,124 | $9.9M | Reduce -4.4% |
| VEU Vanguard Ftse All-World Ex-U | 0.31% | 167,301 | $9.6M | Reduce -1.1% |
| NSC Norfolk Southern Corp. | 0.30% | 40,245 | $9.4M | Reduce -1.3% |
| PSX Phillips 66 | 0.30% | 82,381 | $9.4M | Add +0.8% |
| EFA iShares MSCI Eafe ETF | 0.30% | 121,591 | $9.2M | Reduce -2.2% |
| AER Aercap Holdings NV | 0.29% | 94,734 | $9.1M | Reduce -1.2% |
| BMY Bristol-Myers Squibb Co. | 0.29% | 159,571 | $9.0M | Reduce -2.2% |
| TM Toyota Motor Corp. -Spon ADR | 0.29% | 46,183 | $9.0M | Reduce -0.0% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.28% | 228,612 | $8.8M | Add +22.6% |
| MDLZ Mondelez International Inc. Class A | 0.28% | 142,757 | $8.5M | Add +4.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.27% | 18,625 | $8.4M | Reduce -1.0% |
| ADM Archer-Daniels-Midland Co. | 0.26% | 160,490 | $8.1M | Reduce -1.9% |
| VOO Vanguard S&P 500 ETF | 0.24% | 13,645 | $7.4M | Reduce -9.2% |
| VTI VG Morningstar TS MKT ETF-US | 0.23% | 24,839 | $7.2M | Reduce -2.4% |
| PM Philip Morris International | 0.23% | 59,081 | $7.1M | Reduce -9.4% |
| UNP Union Pacific Corp. | 0.22% | 29,928 | $6.8M | Add +1.7% |
| MSTR Strategy Inc. filed as MICROSTRATEGY INC | 0.21% | 22,220 | $6.4M | Reduce -0.5% |
Portfolio Sells Q3 2024 → Q4 2024
| BLK BlackRock Finance Inc. | Sold out | 0.00% | −1.20 |
| CAT Caterpillar Inc. | Reduce -0.6% | 1.52% | −0.18 |
| HD Home Depot Inc. | Reduce -0.3% | 1.63% | −0.13 |
| PFE Pfizer Inc. | Reduce -9.0% | 0.41% | −0.10 |
| MCD McDonald's Corp. | Reduce -0.0% | 1.01% | −0.09 |
| INTC Intel Corp. | Reduce -4.4% | 0.32% | −0.08 |
| RTX RTX Corp. | Reduce -0.2% | 1.01% | −0.08 |
| DD Dupont DE Nemours Inc. | Reduce -0.5% | 0.38% | −0.08 |
| EXAS Exact Sciences Corp. | Reduce -19.0% | 0.14% | −0.08 |
| CMCSA Comcast Corp. Class A | Reduce -0.2% | 0.47% | −0.07 |
| PPLI People Inc. | Reduce -17.1% | 0.12% | −0.06 |
| ADM Archer-Daniels-Midland Co. | Reduce -1.9% | 0.26% | −0.06 |
| LIN Linde PLC | Reduce -0.1% | 0.35% | −0.06 |
| EFA iShares MSCI Eafe ETF | Reduce -2.2% | 0.30% | −0.05 |
| VEU Vanguard Ftse All-World Ex-U | Reduce -1.1% | 0.31% | −0.04 |
| TGT Target Corp. | Reduce -3.3% | 0.19% | −0.04 |
| MDT Medtronic PLC | Reduce -4.5% | 0.19% | −0.04 |
| ZBH Zimmer Biomet Holdings Inc. | Reduce -2.1% | 0.52% | −0.04 |
| APD Air Products & Chemicals Inc. | Reduce -0.6% | 0.60% | −0.04 |
| LHX L3HARRIS Technologies Inc. | Reduce -1.4% | 0.20% | −0.04 |
| MDY State Street SPDR S&P Midcap | Reduce -0.7% | 0.96% | −0.04 |
| CI The Cigna Group | Reduce -0.7% | 0.11% | −0.03 |
| CVS CVS Health Corp. | Reduce -45.9% | 0.02% | −0.03 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Reduce -2.7% | 0.58% | −0.03 |
| PM Philip Morris International | Reduce -9.4% | 0.23% | −0.03 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -0.9% | 1.16% | −0.03 |
| NSC Norfolk Southern Corp. | Reduce -1.3% | 0.30% | −0.03 |
| PG The Procter & Gamble Co. | Reduce -0.9% | 0.42% | −0.03 |
| ALGN Align Technology Inc. | Reduce -7.6% | 0.09% | −0.03 |
| RPD RAPID7 Inc. | Reduce -17.8% | 0.13% | −0.03 |
| DOW Dow Inc. | Reduce -1.1% | 0.06% | −0.03 |
| VOO Vanguard S&P 500 ETF | Reduce -9.2% | 0.24% | −0.03 |
| VWO Vanguard Ftse Emerging Marke | Reduce -2.2% | 0.18% | −0.03 |
| CARR Carrier Global Corp. | Reduce -3.0% | 0.10% | −0.03 |
| STT State Street Corp. | Sold out | 0.00% | −0.03 |
| HSY The Hershey Co. | Reduce -0.3% | 0.14% | −0.02 |
| GE General Electric | Reduce -2.6% | 0.12% | −0.02 |
| BAX Baxter International Inc. | Reduce -28.5% | 0.02% | −0.02 |
| TROW T Rowe Price Group Inc. | Reduce -3.2% | 0.66% | −0.02 |
| DIA SS SPDR Dow Jones Indus Avg | Reduce -18.3% | 0.07% | −0.02 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -1.0% | 0.27% | −0.02 |
| ELAN Elanco Animal Health Inc. | Reduce -0.2% | 0.06% | −0.02 |
| OTIS Otis Worldwide Corp. | Reduce -2.8% | 0.07% | −0.01 |
| BIV Vanguard Intermediate-Term B | Reduce -13.2% | 0.06% | −0.01 |
| OGN Organon & Co. | Reduce -8.8% | 0.03% | −0.01 |
| MMM 3M Co. | Reduce -0.7% | 0.11% | −0.01 |
| MTCH Match Group Inc. | Reduce -10.6% | 0.03% | −0.01 |
| AER Aercap Holdings NV | Reduce -1.2% | 0.29% | −0.01 |
| EOG EOG Resources Inc. | Reduce -1.8% | 0.18% | −0.01 |
| META Meta Platforms Inc. Class A | Reduce -0.7% | 0.56% | −0.01 |
Portfolio Buys Q3 2024 → Q4 2024
| BLACKROCK INC | New | 1.24% | +1.24 |
| AMZN Amazon.com Inc. | Add +0.2% | 2.32% | +0.29 |
| AAPL Apple Inc. | Add +0.6% | 5.95% | +0.27 |
| DIS The Walt Disney Co. | Add +0.0% | 1.43% | +0.16 |
| NOW ServiceNow Inc. | Add +0.2% | 0.80% | +0.10 |
| BA The Boeing Co. | Add +3.5% | 0.68% | +0.10 |
| V Visa Inc. Class A | Add +1.5% | 0.44% | +0.05 |
| MCK McKesson Corp. | Add +0.2% | 0.39% | +0.04 |
| EQIX Equinix Inc. | Add +0.4% | 0.86% | +0.03 |
| HON Honeywell International Inc. | Add +0.4% | 0.45% | +0.03 |
| SLB SLB Ltd. | Add +22.6% | 0.28% | +0.02 |
| CMG Chipotle Mexican Grill Inc. | Add +0.9% | 0.81% | +0.02 |
| IWF iShares Russell 1000 Growth | Add +53.7% | 0.03% | +0.01 |
| RNG Ringcentral Inc. Class A | Add +0.2% | 0.18% | +0.01 |
| IWD iShares Russell 1000 Value E | New | 0.01% | +0.01 |
| SASR Sandy Spring Bancorp Inc. | New | 0.01% | +0.01 |
| PPG PPG Industries Inc. | New | 0.01% | +0.01 |
| ICSH iShares Ultra Short Duration | New | 0.01% | +0.01 |
| NFLX Netflix Inc. | Add +0.9% | 0.04% | +0.01 |
| ALLE Allegion PLC | New | 0.01% | +0.01 |
| CRWD CrowdStrike Holdings Inc. Class A | New | 0.01% | +0.01 |
| LOW Lowe's Cos Inc. | New | 0.01% | +0.01 |
| CEF Sprott Physical Gold and Sil | New | 0.01% | +0.01 |
| TMUS T-Mobile US Inc. | New | 0.01% | +0.01 |
| IWO iShares Russell 2000 Growth | Add +36.5% | 0.03% | +0.01 |
| WBD Warner Bros Discovery Inc. | Add +5.8% | 0.02% | +0.01 |
| FDX FedEx Corp. | Add +0.9% | 0.84% | +0.00 |
| GLD SPDR Gold Shares | Add +27.2% | 0.02% | +0.00 |
| CYRX Cryoport Inc. | New | 0.00% | +0.00 |
| EGBN Eagle Bancorp Inc. | Add +6.1% | 0.03% | +0.00 |
| SHOP Shopify Inc. Class A | Add +1.6% | 0.02% | +0.00 |
| GLW Corning Inc. | Add +8.1% | 0.02% | +0.00 |
| COHR Coherent Corp. | Add +2.2% | 0.02% | +0.00 |
| TFC Truist Financial Corp. | Add +7.3% | 0.02% | +0.00 |
| DUK Duke Energy Corp. | Add +13.1% | 0.03% | +0.00 |
| AIQ Global X Art Intel & Tech | Add +4.7% | 0.01% | +0.00 |
| WBA Walgreens Boots Alliance Inc. | Add +0.1% | 0.02% | +0.00 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +0.3% | 0.03% | −0.00 |
| VEA Vanguard Ftse Developed ETF | Add +10.8% | 0.02% | −0.00 |
| ORCL Oracle Corp. | Add +2.8% | 0.02% | −0.00 |
| SCHF Schwab Intl Equity ETF | Add +9.0% | 0.01% | −0.00 |
| D Dominion Energy Inc. | Add +7.4% | 0.02% | −0.00 |
| LLY Eli Lilly & Co. | Add +13.0% | 0.03% | −0.00 |
| VLO Valero Energy Corp. | Add +1.0% | 0.01% | −0.00 |
| ADI Analog Devices Inc. | Add +6.2% | 0.04% | −0.00 |
| IJH iShares Core S&P Midcap ETF | Add +1.7% | 0.14% | −0.00 |
| IJR iShares Core S&P Small-Cap E | Add +2.6% | 0.14% | −0.00 |
| FCX Freeport-McMoran Inc. | Add +9.3% | 0.01% | −0.00 |
| ASML ASML Holding NV-NY Reg SHS | Add +2.1% | 0.03% | −0.01 |
| ACN Accenture PLC Class A | Add +2.4% | 0.60% | −0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 257 | $3.6B | AAPL, PANW, AVGO, GOOGL, GOOG |
| Q1 2026 | 249 | $3.3B | AAPL, AVGO, GOOGL, MSFT, GOOG |
| Q4 2025 | 245 | $3.4B | AAPL, AVGO, MSFT, GOOGL, GOOG |
| Q3 2025 | 251 | $3.3B | AAPL, AVGO, MSFT, PANW, GOOGL |
| Q2 2025 | 252 | $3.2B | AVGO, AAPL, MSFT, PANW, NVDA |
| Q1 2025 | 254 | $2.9B | AAPL, MSFT, AVGO, PANW, MA |
| Q4 2024 | 255 | $3.1B | AAPL, AVGO, MSFT, PANW, GOOGL |
| Q3 2024 | 254 | $3.0B | AAPL, MSFT, AVGO, PANW, GOOGL |
| Q2 2024 | 252 | $2.9B | AAPL, MSFT, PANW, AVGO, GOOGL |
| Q1 2024 | 255 | $2.8B | AAPL, MSFT, PANW, AVGO, MA |