Heritage Investors Management Corp.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 6, 2026), Heritage Investors Management Corp. reported 245 stock positions worth $3.4 billion. Its top holding was Apple (AAPL) at 5.6% of the portfolio, followed by Broadcom (AVGO, 5.2%) and Microsoft (MSFT, 4.1%). Compared with Q3 2025, it opened 5 new positions, sold out of 13, added to 43 and reduced 147. The biggest buy was Merck (MRK, shares +1%) and the biggest sale Palo Alto Networks (PANW, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- BETHESDA, MD
- CIK
- 0000937589
- Portfolio Value
- $3.4B (Q4 2025)
- SEC Filing
- 0000937589-26-000001 ↗ filed Feb 6, 2026
Holdings Value
Holdings 245 stocks · $3.4B
| AAPL Apple Inc. | 5.60% | 706,566 | $192.1M | Reduce -1.5% |
| AVGO Broadcom Inc. | 5.15% | 510,959 | $176.8M | Reduce -5.4% |
| MSFT Microsoft Corp. | 4.11% | 291,772 | $141.1M | Reduce -0.3% |
| GOOGL Alphabet Inc. Class A | 3.61% | 395,960 | $123.9M | Reduce -3.5% |
| GOOG Alphabet Inc. Class C | 3.41% | 372,497 | $116.9M | Reduce -2.8% |
| PANW Palo Alto Networks Inc. | 3.01% | 560,458 | $103.2M | Reduce -0.8% |
| NVDA Nvidia Corp. | 2.72% | 500,507 | $93.3M | Reduce -0.1% |
| AMZN Amazon.com Inc. | 2.21% | 328,453 | $75.8M | Reduce -0.3% |
| MA Mastercard Inc. Class A | 2.13% | 128,273 | $73.2M | Reduce -0.6% |
| MAR Marriott International Class A | 2.04% | 225,821 | $70.1M | Reduce -2.8% |
| CAT Caterpillar Inc. | 2.01% | 120,567 | $69.1M | Reduce -3.9% |
| JPM JPMorgan Chase & Co. | 1.79% | 190,924 | $61.5M | Reduce -2.1% |
| AXP American Express Co. | 1.67% | 155,217 | $57.4M | Reduce -2.4% |
| WMT Walmart Inc. | 1.60% | 491,628 | $54.8M | Reduce -1.3% |
| CRM Salesforce Inc. | 1.48% | 191,430 | $50.7M | Add +2.3% |
| GS Goldman Sachs Group Inc. | 1.45% | 56,487 | $49.7M | Reduce -0.8% |
| CSCO Cisco Systems Inc. | 1.44% | 641,251 | $49.4M | Reduce -1.6% |
| HD Home Depot Inc. | 1.40% | 139,930 | $48.1M | Add +1.8% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 1.37% | 414,158 | $47.1M | Add +2.1% |
| RTX RTX Corp. | 1.30% | 244,201 | $44.8M | Reduce -1.2% |
| BLK BlackRock Inc. | 1.22% | 39,046 | $41.8M | Add +0.1% |
| MS Morgan Stanley | 1.17% | 226,092 | $40.1M | Reduce -2.4% |
| MLM Martin Marietta Materials | 1.16% | 63,777 | $39.7M | Reduce -0.8% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.16% | 721,856 | $39.7M | Reduce -1.4% |
| VB Vanguard Most SM-Cap ETF-Usd | 1.08% | 144,028 | $37.2M | Reduce -0.8% |
| JNJ Johnson & Johnson | 1.04% | 172,867 | $35.8M | Reduce -0.2% |
| COF Capital One Financial Corp. | 1.02% | 144,405 | $35.0M | Reduce -1.1% |
| MRK Merck & Co. Inc. | 1.02% | 331,872 | $34.9M | Add +0.7% |
| SYF Synchrony Financial | 1.02% | 417,879 | $34.9M | Reduce -1.7% |
| C Citigroup Inc. | 1.01% | 296,197 | $34.6M | Reduce -2.8% |
| TMO Thermo Fisher Scientific Inc. | 0.95% | 56,433 | $32.7M | Reduce -0.6% |
| MCD McDonald's Corp. | 0.93% | 104,211 | $31.9M | Reduce -0.7% |
| MDY State Street SPDR S&P Midcap | 0.88% | 49,921 | $30.1M | Reduce -1.2% |
| FDX FedEx Corp. | 0.87% | 103,397 | $29.9M | Reduce -0.3% |
| NOW ServiceNow Inc. | 0.80% | 178,511 | $27.3M | Add +19.8% |
| UNH Unitedhealth Group Inc. | 0.76% | 78,569 | $25.9M | Reduce -1.4% |
| ZTS Zoetis Inc. | 0.75% | 204,801 | $25.8M | Add +2.3% |
| BA The Boeing Co. | 0.71% | 111,932 | $24.3M | Reduce -0.9% |
| CVX Chevron Corp. | 0.70% | 158,637 | $24.2M | Reduce -0.2% |
| EQIX Equinix Inc. | 0.68% | 30,389 | $23.3M | Add +1.3% |
| COST Costco Wholesale Corp. | 0.68% | 26,984 | $23.3M | Add +12.4% |
| IQV Iqvia Holdings Inc. | 0.67% | 102,149 | $23.0M | Reduce -2.0% |
| PEP Pepsico Inc. | 0.66% | 157,630 | $22.6M | Reduce -0.3% |
| META Meta Platforms Inc. Class A | 0.64% | 33,526 | $22.1M | Add +10.0% |
| NKE Nike Inc. Class B | 0.62% | 333,715 | $21.3M | Reduce -8.1% |
| AMT American Tower Corp. | 0.60% | 116,390 | $20.4M | Add +2.8% |
| YUMC Yum China Holdings Inc. | 0.57% | 412,370 | $19.7M | Reduce -1.0% |
| ADBE Adobe Inc. | 0.57% | 55,946 | $19.6M | Reduce -14.5% |
| CMG Chipotle Mexican Grill Inc. | 0.57% | 529,085 | $19.6M | Add +6.2% |
| ACN Accenture PLC Class A | 0.57% | 72,865 | $19.6M | Reduce -5.5% |
| CSX CSX Corp. | 0.56% | 531,420 | $19.3M | Reduce -0.6% |
| COP Conocophillips | 0.56% | 204,926 | $19.2M | Reduce -0.3% |
| KO The Coca-Cola Co. | 0.55% | 267,871 | $18.7M | Reduce -1.1% |
| LDOS Leidos Holdings Inc. | 0.54% | 102,165 | $18.4M | Reduce -3.3% |
| PCAR Paccar Inc. | 0.53% | 167,600 | $18.4M | Reduce -0.8% |
| AMGN Amgen Inc. | 0.53% | 55,687 | $18.2M | Reduce -3.1% |
| ADP Automatic Data Processing | 0.53% | 70,420 | $18.1M | Add +0.9% |
| INTC Intel Corp. | 0.52% | 481,329 | $17.8M | Reduce -0.5% |
| YUM Yum! Brands Inc. | 0.51% | 116,517 | $17.6M | Reduce -0.7% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.51% | 60,074 | $17.4M | Reduce -2.2% |
| T AT&T Inc. | 0.51% | 699,774 | $17.4M | Add +7.9% |
| BSX Boston Scientific Corp. | 0.49% | 178,205 | $17.0M | Add +2.7% |
| STZ Constellation Brands Inc. Class A | 0.49% | 122,269 | $16.9M | Reduce -18.4% |
| VZ Verizon Communications Inc. | 0.48% | 406,780 | $16.6M | Add +0.6% |
| MCK McKesson Corp. | 0.48% | 20,192 | $16.6M | Reduce -0.8% |
| APD Air Products & Chemicals Inc. | 0.47% | 65,843 | $16.3M | Reduce -0.1% |
| V Visa Inc. Class A | 0.45% | 44,064 | $15.5M | Add +7.3% |
| ABBV Abbvie Inc. | 0.44% | 65,612 | $15.0M | Reduce -1.1% |
| TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC | 0.43% | 144,012 | $14.7M | Reduce -9.3% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.42% | 48,534 | $14.4M | Reduce -0.4% |
| LMT Lockheed Martin Corp. | 0.42% | 29,549 | $14.3M | Reduce -0.2% |
| NEE Nextera Energy Inc. | 0.40% | 171,709 | $13.8M | Reduce -1.2% |
| BURL Burlington Stores Inc. | 0.39% | 46,426 | $13.4M | Add +1.4% |
| HON Honeywell International Inc. | 0.38% | 67,077 | $13.1M | Add +7.2% |
| IEFA iShares Core MSCI Eafe ETF | 0.35% | 134,741 | $12.1M | Reduce -0.4% |
| ZBH Zimmer Biomet Holdings Inc. | 0.35% | 133,845 | $12.0M | Reduce -8.3% |
| VEU Vanguard Ftse All-World Ex-U | 0.34% | 160,619 | $11.8M | Add +0.1% |
| AER Aercap Holdings NV | 0.34% | 81,772 | $11.8M | Reduce -2.3% |
| XOM Exxon Mobil Corp. | 0.33% | 94,590 | $11.4M | Reduce -3.8% |
| PG The Procter & Gamble Co. | 0.33% | 78,605 | $11.3M | Reduce -0.4% |
| SLB SLB Ltd. filed as SLB LIMITED | 0.32% | 283,962 | $10.9M | Reduce -0.6% |
| EFA iShares MSCI Eafe ETF | 0.32% | 112,807 | $10.8M | Reduce -1.9% |
| LIN Linde PLC | 0.30% | 24,453 | $10.4M | Reduce -1.1% |
| DDOG Datadog Inc. Class A | 0.29% | 74,381 | $10.1M | Add +4.7% |
| PSX Phillips 66 | 0.29% | 78,089 | $10.1M | Reduce -2.2% |
| TM Toyota Motor Corp. -Spon ADR | 0.28% | 45,501 | $9.7M | Reduce -0.4% |
| LLY Eli Lilly & Co. | 0.28% | 8,904 | $9.6M | Reduce -0.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.27% | 18,694 | $9.4M | Reduce -0.2% |
| PFE Pfizer Inc. | 0.27% | 375,470 | $9.3M | Reduce -6.8% |
| CMCSA Comcast Corp. Class A | 0.27% | 312,006 | $9.3M | Reduce -26.3% |
| NSC Norfolk Southern Corp. | 0.26% | 30,367 | $8.8M | Reduce -2.2% |
| MDLZ Mondelez International Inc. Class A | 0.25% | 162,146 | $8.7M | Add +12.8% |
| LHX L3HARRIS Technologies Inc. | 0.25% | 29,092 | $8.5M | Reduce -1.4% |
| ADM Archer-Daniels-Midland Co. | 0.24% | 142,359 | $8.2M | Reduce -5.5% |
| UNP Union Pacific Corp. | 0.22% | 33,172 | $7.7M | Add +3.0% |
| BMY Bristol-Myers Squibb Co. | 0.22% | 138,452 | $7.5M | Reduce -6.0% |
| VTI VG Morningstar TS MKT ETF-US | 0.21% | 21,495 | $7.2M | Reduce -4.8% |
| UPS United Parcel Service Class B | 0.21% | 71,421 | $7.1M | Reduce -7.9% |
| PYPL PayPal Holdings Inc. | 0.21% | 120,867 | $7.1M | Reduce -13.2% |
| IEMG iShares Core MSCI Emerging | 0.20% | 103,274 | $6.9M | Reduce -1.1% |
Portfolio Sells Q3 2025 → Q4 2025
| PANW Palo Alto Networks Inc. | Reduce -0.8% | 3.01% | −0.43 |
| MSFT Microsoft Corp. | Reduce -0.3% | 4.11% | −0.42 |
| DD Dupont DE Nemours Inc. | Reduce -0.0% | 0.18% | −0.18 |
| AVGO Broadcom Inc. | Reduce -5.4% | 5.15% | −0.17 |
| NKE Nike Inc. Class B | Reduce -8.1% | 0.62% | −0.14 |
| CMCSA Comcast Corp. Class A | Reduce -26.3% | 0.27% | −0.13 |
| ADBE Adobe Inc. | Reduce -14.5% | 0.57% | −0.12 |
| STZ Constellation Brands Inc. Class A | Reduce -18.4% | 0.49% | −0.11 |
| ZBH Zimmer Biomet Holdings Inc. | Reduce -8.3% | 0.35% | −0.08 |
| NVDA Nvidia Corp. | Reduce -0.1% | 2.72% | −0.08 |
| PYPL PayPal Holdings Inc. | Reduce -13.2% | 0.21% | −0.07 |
| UNH Unitedhealth Group Inc. | Reduce -1.4% | 0.76% | −0.07 |
| APD Air Products & Chemicals Inc. | Reduce -0.1% | 0.47% | −0.06 |
| MA Mastercard Inc. Class A | Reduce -0.6% | 2.13% | −0.06 |
| LDOS Leidos Holdings Inc. | Reduce -3.3% | 0.54% | −0.06 |
| TROW T Rowe Price Group Inc. | Reduce -9.3% | 0.43% | −0.06 |
| MLM Martin Marietta Materials | Reduce -0.8% | 1.16% | −0.05 |
| LIN Linde PLC | Reduce -1.1% | 0.30% | −0.05 |
| JPM JPMorgan Chase & Co. | Reduce -2.1% | 1.79% | −0.05 |
| PFE Pfizer Inc. | Reduce -6.8% | 0.27% | −0.03 |
| PG The Procter & Gamble Co. | Reduce -0.4% | 0.33% | −0.03 |
| CVX Chevron Corp. | Reduce -0.2% | 0.70% | −0.03 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Reduce -2.2% | 0.51% | −0.03 |
| PSX Phillips 66 | Reduce -2.2% | 0.29% | −0.03 |
| TGT Target Corp. | Reduce -33.2% | 0.08% | −0.03 |
| ADM Archer-Daniels-Midland Co. | Reduce -5.5% | 0.24% | −0.03 |
| PPLI People Inc. | Reduce -56.1% | 0.03% | −0.03 |
| MCD McDonald's Corp. | Reduce -0.7% | 0.93% | −0.03 |
| LMT Lockheed Martin Corp. | Reduce -0.2% | 0.42% | −0.03 |
| REZI Resideo Technologies Inc. | Reduce -0.3% | 0.09% | −0.03 |
| NSC Norfolk Southern Corp. | Reduce -2.2% | 0.26% | −0.02 |
| SLM SLM Corp. | Reduce -15.7% | 0.09% | −0.02 |
| ABBV Abbvie Inc. | Reduce -1.1% | 0.44% | −0.02 |
| COP Conocophillips | Reduce -0.3% | 0.56% | −0.02 |
| MDY State Street SPDR S&P Midcap | Reduce -1.2% | 0.88% | −0.02 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -0.8% | 1.08% | −0.02 |
| BA The Boeing Co. | Reduce -0.9% | 0.71% | −0.02 |
| LHX L3HARRIS Technologies Inc. | Reduce -1.4% | 0.25% | −0.02 |
| ALGN Align Technology Inc. | Reduce -62.1% | 0.02% | −0.02 |
| YUM Yum! Brands Inc. | Reduce -0.7% | 0.51% | −0.02 |
| RNG Ringcentral Inc. Class A | Reduce -17.0% | 0.09% | −0.02 |
| EME Emcor Group Inc. | Reduce -5.0% | 0.11% | −0.02 |
| CC The Chemours Co. | Reduce -8.6% | 0.03% | −0.02 |
| CARR Carrier Global Corp. | Reduce -5.8% | 0.07% | −0.02 |
| EOG EOG Resources Inc. | Reduce -2.2% | 0.13% | −0.02 |
| GLDM SPDR Gold Minishares Trust | Sold out | 0.00% | −0.01 |
| Q Qnity Electronics Inc. | Reduce -4.6% | 0.17% | −0.01 |
| RPD RAPID7 Inc. | Sold out | 0.00% | −0.01 |
| BAX Baxter International Inc. | Sold out | 0.00% | −0.01 |
| DOW Dow Inc. | Reduce -35.6% | 0.02% | −0.01 |
Portfolio Buys Q3 2025 → Q4 2025
| MRK Merck & Co. Inc. | Add +0.7% | 1.02% | +0.19 |
| CRM Salesforce Inc. | Add +2.3% | 1.48% | +0.15 |
| NFLX Netflix Inc. | Add +153.4% | 0.10% | +0.05 |
| BURL Burlington Stores Inc. | Add +1.4% | 0.39% | +0.04 |
| V Visa Inc. Class A | Add +7.3% | 0.45% | +0.03 |
| CI The Cigna Group | Add +24.8% | 0.14% | +0.02 |
| DE Deere & Co. | New | 0.02% | +0.02 |
| COST Costco Wholesale Corp. | Add +12.4% | 0.68% | +0.01 |
| VRTX Vertex Pharmaceuticals Inc. | New | 0.01% | +0.01 |
| NYT New York Times Co. Class A | New | 0.01% | +0.01 |
| DGII Digi International Inc. | New | 0.01% | +0.01 |
| AMD Advanced Micro Devices | Add +18.9% | 0.01% | +0.00 |
| VOO Vanguard S&P 500 ETF | Add +2.5% | 0.14% | +0.00 |
| TFC Truist Financial Corp. | Add +12.7% | 0.02% | +0.00 |
| BX Blackstone Inc. | Add +21.0% | 0.05% | +0.00 |
| VGT Vanguard Info Tech ETF | Add +17.9% | 0.02% | +0.00 |
| VEU Vanguard Ftse All-World Ex-U | Add +0.1% | 0.34% | +0.00 |
| IGIB iShares 5-10Y Inv Grade Corp. | Add +24.2% | 0.01% | +0.00 |
| IWF iShares Russell 1000 Growth | Add +4.1% | 0.03% | +0.00 |
| D Dominion Energy Inc. | Add +9.3% | 0.02% | +0.00 |
| IWM iShares Russell 2000 ETF | Add +1.1% | 0.13% | +0.00 |
| IGSB iShares 1-5Y Inv Grade Corp. | Add +7.4% | 0.01% | +0.00 |
| AIQ Global X Art Intel & Tech | Add +1.6% | 0.01% | +0.00 |
| FCHL Fitness Champs Holdings Ltd. | New | 0.00% | +0.00 |
| BIV Vanguard Intermediate-Term B | Add +2.6% | 0.04% | −0.00 |
| ORCL Oracle Corp. | Add +46.5% | 0.03% | −0.00 |
| IJR iShares Core S&P Small-Cap E | Add +0.3% | 0.11% | −0.00 |
| KMB Kimberly-Clark Corp. | Add +2.0% | 0.01% | −0.00 |
| UNP Union Pacific Corp. | Add +3.0% | 0.22% | −0.00 |
| IBIT iShares Bitcoin Trust ETF | Add +2.1% | 0.01% | −0.00 |
| VWO Vanguard Ftse Emerging Marke | Add +0.0% | 0.19% | −0.01 |
| DDOG Datadog Inc. Class A | Add +4.7% | 0.29% | −0.01 |
| BSX Boston Scientific Corp. | Add +2.7% | 0.49% | −0.01 |
| HON Honeywell International Inc. | Add +7.2% | 0.38% | −0.01 |
| ABT Abbott Laboratories | Add +1.2% | 0.15% | −0.01 |
| CMG Chipotle Mexican Grill Inc. | Add +6.2% | 0.57% | −0.01 |
| MDLZ Mondelez International Inc. Class A | Add +12.8% | 0.25% | −0.01 |
| DIS The Walt Disney Co. | Add +2.1% | 1.37% | −0.02 |
| NOW ServiceNow Inc. | Add +19.8% | 0.80% | −0.02 |
| EQIX Equinix Inc. | Add +1.3% | 0.68% | −0.02 |
| META Meta Platforms Inc. Class A | Add +10.0% | 0.64% | −0.02 |
| T AT&T Inc. | Add +7.9% | 0.51% | −0.04 |
| VZ Verizon Communications Inc. | Add +0.6% | 0.48% | −0.05 |
| AMT American Tower Corp. | Add +2.8% | 0.60% | −0.06 |
| ADP Automatic Data Processing | Add +0.9% | 0.53% | −0.08 |
| ZTS Zoetis Inc. | Add +2.3% | 0.75% | −0.12 |
| BLK BlackRock Inc. | Add +0.1% | 1.22% | −0.14 |
| HD Home Depot Inc. | Add +1.8% | 1.40% | −0.26 |
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 |