Heritage Investors Management Corp.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 5, 2025), Heritage Investors Management Corp. reported 254 stock positions worth $2.9 billion. Its top holding was Apple (AAPL) at 5.6% of the portfolio, followed by Microsoft (MSFT, 3.9%) and Broadcom (AVGO, 3.4%). Compared with Q4 2024, it opened 9 new positions, sold out of 10, added to 62 and reduced 125. The biggest buy was a new position in BlackRock (BLK) and the biggest sale an exit from BlackRock.
- Most Recent 13F
- Q2 2026
- Location
- BETHESDA, MD
- CIK
- 0000937589
- Portfolio Value
- $2.9B (Q1 2025)
- SEC Filing
- 0000937589-25-000002 ↗ filed May 5, 2025
Holdings Value
Holdings 254 stocks · $2.9B
| AAPL Apple Inc. | 5.57% | 730,807 | $162.3M | Reduce -0.7% |
| MSFT Microsoft Corp. | 3.92% | 304,445 | $114.3M | Add +0.4% |
| AVGO Broadcom Inc. | 3.44% | 599,760 | $100.4M | Add +0.1% |
| PANW Palo Alto Networks Inc. | 3.41% | 582,361 | $99.4M | Reduce -0.1% |
| MA Mastercard Inc. Class A | 2.51% | 133,400 | $73.1M | Reduce -1.6% |
| GOOGL Alphabet Inc. Class A | 2.25% | 423,981 | $65.6M | Add +0.9% |
| AMZN Amazon.com Inc. | 2.16% | 330,889 | $63.0M | Add +0.9% |
| GOOG Alphabet Inc. Class C | 2.13% | 397,753 | $62.1M | Reduce -0.2% |
| NVDA Nvidia Corp. | 1.94% | 522,886 | $56.7M | Add +1.8% |
| MAR Marriott International Class A | 1.90% | 232,064 | $55.3M | Reduce -0.5% |
| JPM JPMorgan Chase & Co. | 1.75% | 208,279 | $51.1M | Reduce -2.3% |
| HD Home Depot Inc. | 1.66% | 132,243 | $48.5M | Add +2.0% |
| CRM Salesforce Inc. | 1.63% | 177,238 | $47.6M | Add +0.7% |
| WMT Walmart Inc. | 1.58% | 525,315 | $46.1M | Reduce -1.1% |
| AXP American Express Co. | 1.52% | 165,272 | $44.5M | Reduce -0.1% |
| CAT Caterpillar Inc. | 1.46% | 128,969 | $42.5M | Reduce -0.6% |
| CSCO Cisco Systems Inc. | 1.42% | 669,492 | $41.3M | Reduce -1.4% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 1.37% | 405,865 | $40.1M | Add +2.0% |
| UNH Unitedhealth Group Inc. | 1.34% | 74,443 | $39.0M | Add +9.0% |
| BLK BlackRock Inc. | 1.28% | 39,406 | $37.3M | New |
| RTX RTX Corp. | 1.20% | 264,788 | $35.1M | Reduce -1.8% |
| GS Goldman Sachs Group Inc. | 1.15% | 61,453 | $33.6M | Reduce -2.0% |
| MCD McDonald's Corp. | 1.14% | 106,224 | $33.2M | Reduce -1.1% |
| VB Vanguard Most SM-Cap ETF-Usd | 1.11% | 146,585 | $32.5M | Reduce -1.6% |
| ZTS Zoetis Inc. | 1.10% | 195,089 | $32.1M | Add +5.4% |
| MLM Martin Marietta Materials | 1.08% | 66,154 | $31.6M | Add +3.6% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.05% | 736,242 | $30.7M | Reduce -0.3% |
| MS Morgan Stanley | 1.01% | 252,016 | $29.4M | Reduce -2.2% |
| JNJ Johnson & Johnson | 1.00% | 175,551 | $29.1M | Reduce -0.8% |
| MRK Merck & Co. Inc. | 0.99% | 320,847 | $28.8M | Add +5.0% |
| MDY State Street SPDR S&P Midcap | 0.94% | 51,469 | $27.5M | Reduce -1.0% |
| CVX Chevron Corp. | 0.92% | 160,605 | $26.9M | Reduce -0.7% |
| TMO Thermo Fisher Scientific Inc. | 0.88% | 51,616 | $25.7M | Add +5.5% |
| STZ Constellation Brands Inc. Class A | 0.87% | 138,214 | $25.4M | Add +7.7% |
| COF Capital One Financial Corp. | 0.84% | 136,557 | $24.5M | Reduce -2.3% |
| SYF Synchrony Financial | 0.84% | 460,494 | $24.4M | Reduce -1.4% |
| FDX FedEx Corp. | 0.83% | 98,951 | $24.1M | Add +7.2% |
| NKE Nike Inc. Class B | 0.82% | 374,526 | $23.8M | Add +5.2% |
| AMT American Tower Corp. | 0.80% | 107,125 | $23.3M | Add +0.2% |
| ADBE Adobe Inc. | 0.79% | 60,061 | $23.0M | Add +12.2% |
| EQIX Equinix Inc. | 0.79% | 28,153 | $23.0M | Reduce -0.2% |
| C Citigroup Inc. | 0.78% | 321,321 | $22.8M | Reduce -2.3% |
| CMG Chipotle Mexican Grill Inc. | 0.77% | 449,268 | $22.6M | Add +8.2% |
| COST Costco Wholesale Corp. | 0.76% | 23,404 | $22.1M | Add +1.6% |
| YUMC Yum China Holdings Inc. | 0.75% | 422,278 | $22.0M | Reduce -1.8% |
| ADP Automatic Data Processing | 0.75% | 71,931 | $22.0M | Reduce -3.9% |
| COP Conocophillips | 0.74% | 206,516 | $21.7M | Add +0.0% |
| PEP Pepsico Inc. | 0.74% | 143,965 | $21.6M | Add +9.3% |
| NOW ServiceNow Inc. | 0.71% | 26,101 | $20.8M | Add +12.2% |
| BA The Boeing Co. | 0.69% | 117,602 | $20.1M | Reduce -0.5% |
| KO The Coca-Cola Co. | 0.68% | 275,404 | $19.7M | Reduce -1.0% |
| YUM Yum! Brands Inc. | 0.65% | 120,170 | $18.9M | Reduce -2.7% |
| APD Air Products & Chemicals Inc. | 0.65% | 63,842 | $18.8M | Reduce -0.4% |
| BSX Boston Scientific Corp. | 0.64% | 186,365 | $18.8M | Reduce -4.5% |
| T AT&T Inc. | 0.64% | 663,065 | $18.8M | Reduce -1.1% |
| VZ Verizon Communications Inc. | 0.64% | 410,035 | $18.6M | Reduce -0.5% |
| AMGN Amgen Inc. | 0.62% | 58,138 | $18.1M | Reduce -1.7% |
| ACN Accenture PLC Class A | 0.60% | 56,532 | $17.6M | Add +6.4% |
| META Meta Platforms Inc. Class A | 0.60% | 30,326 | $17.5M | Add +1.8% |
| ZBH Zimmer Biomet Holdings Inc. | 0.59% | 151,699 | $17.2M | Add +0.1% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.58% | 65,163 | $16.9M | Reduce -3.7% |
| IQV Iqvia Holdings Inc. | 0.57% | 94,795 | $16.7M | Add +8.0% |
| TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC | 0.57% | 181,893 | $16.7M | Add +0.0% |
| PCAR Paccar Inc. | 0.56% | 168,852 | $16.4M | Reduce -1.0% |
| CSX CSX Corp. | 0.54% | 538,274 | $15.8M | Add +1.1% |
| V Visa Inc. Class A | 0.50% | 41,834 | $14.7M | Reduce -2.7% |
| CMCSA Comcast Corp. Class A | 0.50% | 394,749 | $14.6M | Add +1.1% |
| LDOS Leidos Holdings Inc. | 0.49% | 106,545 | $14.4M | Add +8.9% |
| ABBV Abbvie Inc. | 0.49% | 67,809 | $14.2M | Reduce -2.6% |
| MCK McKesson Corp. | 0.48% | 20,642 | $13.9M | Reduce -2.7% |
| PG The Procter & Gamble Co. | 0.46% | 78,165 | $13.3M | Reduce -0.1% |
| HON Honeywell International Inc. | 0.45% | 62,201 | $13.2M | Add +0.9% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.43% | 50,529 | $12.6M | Reduce -2.4% |
| NEE Nextera Energy Inc. | 0.42% | 174,304 | $12.4M | Add +0.1% |
| XOM Exxon Mobil Corp. | 0.41% | 100,837 | $12.0M | Reduce -2.2% |
| PFE Pfizer Inc. | 0.41% | 469,041 | $11.9M | Reduce -1.9% |
| LIN Linde PLC | 0.40% | 25,252 | $11.8M | Reduce -2.3% |
| DD Dupont DE Nemours Inc. | 0.40% | 154,456 | $11.5M | Add +0.0% |
| IEFA iShares Core MSCI Eafe ETF | 0.39% | 150,505 | $11.4M | Reduce -1.4% |
| LMT Lockheed Martin Corp. | 0.39% | 25,358 | $11.3M | Add +7.8% |
| INTC Intel Corp. | 0.38% | 492,967 | $11.2M | Add +0.2% |
| BURL Burlington Stores Inc. | 0.38% | 46,518 | $11.1M | Add +3.0% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.37% | 257,402 | $10.8M | Add +12.6% |
| PSX Phillips 66 | 0.35% | 82,539 | $10.2M | Add +0.2% |
| VEU Vanguard Ftse All-World Ex-U | 0.34% | 165,583 | $10.0M | Reduce -1.0% |
| EFA iShares MSCI Eafe ETF | 0.34% | 120,233 | $9.8M | Reduce -1.1% |
| MDLZ Mondelez International Inc. Class A | 0.33% | 143,254 | $9.7M | Add +0.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.33% | 18,245 | $9.7M | Reduce -2.0% |
| NSC Norfolk Southern Corp. | 0.32% | 39,720 | $9.4M | Reduce -1.3% |
| BMY Bristol-Myers Squibb Co. | 0.32% | 153,858 | $9.4M | Reduce -3.6% |
| PYPL PayPal Holdings Inc. | 0.32% | 142,976 | $9.3M | Reduce -0.8% |
| AER Aercap Holdings NV | 0.32% | 91,006 | $9.3M | Reduce -3.9% |
| UPS United Parcel Service Class B | 0.30% | 80,232 | $8.8M | Reduce -2.7% |
| TM Toyota Motor Corp. -Spon ADR | 0.28% | 46,053 | $8.1M | Reduce -0.3% |
| ADM Archer-Daniels-Midland Co. | 0.26% | 158,803 | $7.6M | Reduce -1.1% |
| PM Philip Morris International | 0.25% | 45,449 | $7.2M | Reduce -23.1% |
| UNP Union Pacific Corp. | 0.24% | 29,819 | $7.0M | Reduce -0.4% |
| SHEL Shell PLC-ADR | 0.24% | 95,635 | $7.0M | Reduce -0.4% |
| VTI VG Morningstar TS MKT ETF-US | 0.23% | 24,915 | $6.8M | Add +0.3% |
| MDT Medtronic PLC | 0.22% | 72,705 | $6.5M | Reduce -3.0% |
Portfolio Sells Q4 2024 → Q1 2025
| BLACKROCK INC | Sold out | 0.00% | −1.24 |
| AAPL Apple Inc. | Reduce -0.7% | 5.57% | −0.38 |
| GOOG Alphabet Inc. Class C | Reduce -0.2% | 2.13% | −0.32 |
| MAR Marriott International Class A | Reduce -0.5% | 1.90% | −0.20 |
| SYF Synchrony Financial | Reduce -1.4% | 0.84% | −0.14 |
| VOO Vanguard S&P 500 ETF | Reduce -49.5% | 0.12% | −0.12 |
| PYPL PayPal Holdings Inc. | Reduce -0.8% | 0.32% | −0.08 |
| EQIX Equinix Inc. | Reduce -0.2% | 0.79% | −0.07 |
| DIA SS SPDR Dow Jones Indus Avg | Sold out | 0.00% | −0.07 |
| CAT Caterpillar Inc. | Reduce -0.6% | 1.46% | −0.06 |
| AXP American Express Co. | Reduce -0.1% | 1.52% | −0.06 |
| RPD RAPID7 Inc. | Reduce -22.7% | 0.07% | −0.06 |
| RNG Ringcentral Inc. Class A | Reduce -4.2% | 0.13% | −0.05 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -1.6% | 1.11% | −0.04 |
| MS Morgan Stanley | Reduce -2.2% | 1.01% | −0.04 |
| TGT Target Corp. | Reduce -1.2% | 0.16% | −0.04 |
| EXAS Exact Sciences Corp. | Reduce -8.5% | 0.10% | −0.03 |
| UPS United Parcel Service Class B | Reduce -2.7% | 0.30% | −0.03 |
| REZI Resideo Technologies Inc. | Reduce -7.5% | 0.06% | −0.02 |
| ALGN Align Technology Inc. | Reduce -1.1% | 0.07% | −0.02 |
| MO Altria Group Inc. | Reduce -35.6% | 0.06% | −0.02 |
| PANW Palo Alto Networks Inc. | Reduce -0.1% | 3.41% | −0.01 |
| MDY State Street SPDR S&P Midcap | Reduce -1.0% | 0.94% | −0.01 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -12.4% | 0.07% | −0.01 |
| IWD iShares Russell 1000 Value E | Sold out | 0.00% | −0.01 |
| TM Toyota Motor Corp. -Spon ADR | Reduce -0.3% | 0.28% | −0.01 |
| TEVA Teva Pharmaceutical-SP ADR | Reduce -0.6% | 0.03% | −0.01 |
| PCAR Paccar Inc. | Reduce -1.0% | 0.56% | −0.01 |
| IWF iShares Russell 1000 Growth | Reduce -22.5% | 0.03% | −0.01 |
| MWA Mueller Water Products Inc. Class A | Sold out | 0.00% | −0.01 |
| QDEL Quidelortho Corp. | Sold out | 0.00% | −0.01 |
| BIV Vanguard Intermediate-Term B | Reduce -22.2% | 0.05% | −0.01 |
| GS Goldman Sachs Group Inc. | Reduce -2.0% | 1.15% | −0.01 |
| TRN Trinity Industries Inc. | Sold out | 0.00% | −0.01 |
| BX Blackstone Inc. | Reduce -1.2% | 0.04% | −0.01 |
| GM General Motors Co. | Reduce -5.5% | 0.06% | −0.01 |
| IWM iShares Russell 2000 ETF | Reduce -2.1% | 0.12% | −0.01 |
| ICSH iShares Ultra Short Duration | Sold out | 0.00% | −0.01 |
| EEMV iShares MSCI Emg MKT Min Vol | Sold out | 0.00% | −0.01 |
| LOW Lowe's Cos Inc. | Sold out | 0.00% | −0.01 |
| ELAN Elanco Animal Health Inc. | Reduce -3.6% | 0.06% | −0.01 |
| IJT iShares S&P Small-Cap 600 GR | Sold out | 0.00% | −0.01 |
| COHR Coherent Corp. | Reduce -1.1% | 0.02% | −0.01 |
| DXC DXC Technology Co. | Reduce -3.3% | 0.04% | −0.01 |
| DOW Dow Inc. | Reduce -0.5% | 0.06% | −0.01 |
| MTCH Match Group Inc. | Reduce -14.6% | 0.03% | −0.00 |
| DLR Digital Realty Trust Inc. | Reduce -1.0% | 0.02% | −0.00 |
| TSLA Tesla Inc. | Reduce -2.8% | 0.01% | −0.00 |
| HMC Honda Motor Co. Ltd.-Spons ADR | Reduce -17.8% | 0.02% | −0.00 |
| ORCL Oracle Corp. | Reduce -3.4% | 0.02% | −0.00 |
Portfolio Buys Q4 2024 → Q1 2025
| BLK BlackRock Inc. | New | 1.28% | +1.28 |
| UNH Unitedhealth Group Inc. | Add +9.0% | 1.34% | +0.22 |
| AMT American Tower Corp. | Add +0.2% | 0.80% | +0.17 |
| DDOG Datadog Inc. Class A | Add +478.6% | 0.19% | +0.15 |
| ZTS Zoetis Inc. | Add +5.4% | 1.10% | +0.13 |
| PEP Pepsico Inc. | Add +9.3% | 0.74% | +0.09 |
| SLB SLB Ltd. | Add +12.6% | 0.37% | +0.09 |
| COP Conocophillips | Add +0.0% | 0.74% | +0.08 |
| COST Costco Wholesale Corp. | Add +1.6% | 0.76% | +0.08 |
| ZBH Zimmer Biomet Holdings Inc. | Add +0.1% | 0.59% | +0.07 |
| INTC Intel Corp. | Add +0.2% | 0.38% | +0.07 |
| TMO Thermo Fisher Scientific Inc. | Add +5.5% | 0.88% | +0.06 |
| MDLZ Mondelez International Inc. Class A | Add +0.3% | 0.33% | +0.06 |
| PSX Phillips 66 | Add +0.2% | 0.35% | +0.05 |
| LDOS Leidos Holdings Inc. | Add +8.9% | 0.49% | +0.04 |
| META Meta Platforms Inc. Class A | Add +1.8% | 0.60% | +0.04 |
| HD Home Depot Inc. | Add +2.0% | 1.66% | +0.03 |
| CTVA Corteva Inc. | Add +1.4% | 0.17% | +0.03 |
| CMCSA Comcast Corp. Class A | Add +1.1% | 0.50% | +0.03 |
| IEMG iShares Core MSCI Emerging | Add +2.0% | 0.21% | +0.02 |
| ADBE Adobe Inc. | Add +12.2% | 0.79% | +0.02 |
| NEE Nextera Energy Inc. | Add +0.1% | 0.42% | +0.02 |
| MLM Martin Marietta Materials | Add +3.6% | 1.08% | +0.02 |
| LMT Lockheed Martin Corp. | Add +7.8% | 0.39% | +0.02 |
| SAIC Science Applications Inte | New | 0.02% | +0.02 |
| IQV Iqvia Holdings Inc. | Add +8.0% | 0.57% | +0.02 |
| DD Dupont DE Nemours Inc. | Add +0.0% | 0.40% | +0.02 |
| LHX L3HARRIS Technologies Inc. | Add +1.1% | 0.22% | +0.01 |
| MSTR Strategy Inc. | Add +0.3% | 0.22% | +0.01 |
| QCOM Qualcomm Inc. | Add +2.0% | 0.14% | +0.01 |
| CME Cme Group Inc. | New | 0.01% | +0.01 |
| D Dominion Energy Inc. | Add +32.5% | 0.03% | +0.01 |
| NFLX Netflix Inc. | Add +10.1% | 0.05% | +0.01 |
| VYM Vanguard High DVD Yield ETF | New | 0.01% | +0.01 |
| GD General Dynamics Corp. | New | 0.01% | +0.01 |
| TXN Texas Instruments Inc. | New | 0.01% | +0.01 |
| IGSB iShares 1-5Y Inv Grade Corp. | New | 0.01% | +0.01 |
| OPCH Option Care Health Inc. | New | 0.01% | +0.01 |
| L Loews Corp. | New | 0.01% | +0.01 |
| MRK Merck & Co. Inc. | Add +5.0% | 0.99% | +0.01 |
| INTU Intuit Inc. | Add +9.8% | 0.03% | +0.00 |
| CARR Carrier Global Corp. | Add +4.8% | 0.11% | +0.00 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +30.4% | 0.01% | +0.00 |
| IVV iShares Core S&P 500 ETF | Add +33.0% | 0.01% | +0.00 |
| VEA Vanguard Ftse Developed ETF | Add +4.5% | 0.02% | +0.00 |
| TGNA Tegna Inc. | Add +37.0% | 0.01% | +0.00 |
| KMB Kimberly-Clark Corp. | Add +8.4% | 0.01% | +0.00 |
| VTI VG Morningstar TS MKT ETF-US | Add +0.3% | 0.23% | +0.00 |
| HON Honeywell International Inc. | Add +0.9% | 0.45% | +0.00 |
| ACN Accenture PLC Class A | Add +6.4% | 0.60% | +0.00 |
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 |