HERITAGE INVESTORS MANAGEMENT CORP

CIK

937589

Location

BETHESDA, MD

Portfolio Value

Mid $3,041,182,708

Diversification

Diversified

Filing Date

Global Rank

#917 / 8,603 ▼ 6 · as of Mar 2026

Top Industry

Semiconductors 8.9%

3Y Alpha vs SPY

-3.4%

Period ended 3 months ago

Filed Apr 24, 2026 · 3mo

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+61.5%

SPY

+76.0%

Annualised alpha

-3.4%

Max drawdown

−19.2%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

208 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

5.8%

−0.3 pts

Top 5

21.2%

−2.0 pts

Top 10

33.5%

−1.8 pts

HHI

185

Diversified−16

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	28.3%	$861,601,214	36
Financial Services	15.1%	$459,138,515	24
Industrials	11.2%	$340,079,230	32
Consumer Cyclical	10.6%	$323,073,976	18
Healthcare	9.9%	$302,145,283	29
Communication Services	7.7%	$235,427,620	13
Consumer Defensive	6.5%	$196,172,847	13
Energy	3.7%	$111,675,949	13
Basic Materials	3.5%	$106,993,022	14
Real Estate	1.7%	$50,472,357	5
Unclassified	1.2%	$35,172,965	5
Utilities	0.6%	$19,229,730	6

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
DDOG	Datadog, Inc.	+38,272	112,653	$13,298,686
NFLX	Netflix Inc	+31,884	69,513	$6,683,674
BSX	Boston Scientific Corp	+18,957	197,162	$12,371,915
NOW	ServiceNow, Inc.	+16,565	195,076	$20,395,195
META	Meta Platforms, Inc.	+9,826	43,352	$24,802,979
CMG	Chipotle Mexican Grill Inc	+9,410	538,495	$17,237,224
IQV	Iqvia Holdings Inc.	+7,239	109,388	$18,655,029
AMZN	Amazon Com Inc	+6,591	335,044	$69,779,613
PANW	Palo Alto Networks Inc	+6,203	566,661	$90,847,091
ACN	Accenture plc	+5,366	78,231	$15,512,424
CRM	Salesforce, Inc.	+4,847	196,277	$36,639,027
ZTS	Zoetis Inc.	+4,496	209,297	$24,740,998
DUK	Duke Energy CORP	+3,975	11,712	$1,533,569
DIS	Walt Disney Co	+3,301	417,459	$40,234,698
COF	Capital One Financial Corp	+3,050	147,455	$26,900,215
ADP	Automatic Data Processing Inc	+2,924	73,344	$14,902,033
SLM	SLM Corp	+2,625	121,785	$2,607,416
MSFT	Microsoft Corp	+2,524	294,296	$108,939,550
JBGS	JBG SMITH Properties	+2,477	14,619	$213,583
MDLZ	Mondelez International, Inc.	+1,972	164,118	$9,459,761
UNH	Unitedhealth Group Inc	+1,835	80,404	$21,756,518
PEP	Pepsico Inc	+1,636	159,266	$24,732,417
HD	Home Depot, Inc.	+1,316	141,246	$46,454,396
DD	DuPont de Nemours, Inc.	+1,310	153,614	$21,106,563
ADBE	Adobe Inc.	+1,243	57,189	$13,901,502
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
CMCSA	Comcast Corp	−50,465	261,541	$7,508,842
PYPL	PayPal Holdings, Inc.	−43,643	77,224	$3,492,841
T	At&T Inc.	−15,588	684,186	$19,834,552
AAPL	Apple Inc.	−15,059	691,507	$175,497,561
CSX	Csx Corp	−14,993	516,427	$21,199,328
WMT	Walmart Inc.	−13,852	477,776	$59,378,001
RNG	RingCentral, Inc.	−11,495	95,976	$3,569,347
NVDA	Nvidia Corp	−11,206	489,301	$85,334,094
SHEL	Shell plc	−9,724	81,314	$7,562,202
SLB	Slb Limited/Nv	−7,621	276,341	$14,201,163
GOOGL	Alphabet Inc.	−7,458	388,502	$111,717,635
TROW	Price T Rowe Group Inc	−7,423	136,589	$12,312,132
PPLI	People Inc	−7,047	16,638	$666,019
VZ	Verizon Communications Inc	−7,003	399,777	$20,068,805
ZBH	Zimmer Biomet Holdings, Inc.	−6,886	126,959	$11,479,632
RTX	RTX Corp	−6,709	237,492	$45,812,206
COP	Conocophillips	−5,894	199,032	$26,272,224
JNJ	Johnson & Johnson	−5,785	167,082	$40,841,524
SYF	Synchrony Financial	−5,699	412,180	$28,036,483
INTC	Intel Corp	−5,062	476,267	$21,017,662
Q	Qnity Electronics, Inc.	−5,045	67,620	$7,801,995
CVX	Chevron Corp	−4,880	153,757	$31,812,323
YUMC	Yum China Holdings, Inc.	−4,381	407,989	$19,901,703
CAT	Caterpillar Inc	−4,171	116,396	$82,461,910
C	Citigroup Inc	−3,983	292,214	$33,139,989
No positions match the current search.

New Positions

Positions the filer opened this quarter

9 positions

Ticker	Company	Shares	Value
SO	Southern Co	5,156	$497,657
MRSH	Marsh & Mclennan Companies, Inc.	2,535	$439,695
XEL	Xcel Energy Inc	5,472	$434,695
WEC	Wec Energy Group, Inc.	2,660	$307,948
GD	General Dynamics Corp	685	$235,105
TRN	Trinity Industries Inc	7,070	$227,512
BCPC	Balchem Corp	1,250	$211,850
LOW	Lowes Companies Inc	892	$210,761
TMUS	T-Mobile US, Inc.	957	$200,998
No positions match the current search.

Sold Out

Positions the filer fully exited

6 positions

Ticker	Company	Shares	Value
EXAS	EXACT SCIENCES CORP	44,889	$4,558,926
FCHL	Fitness Champs Holdings Ltd	31,750	$3,300,412
GTLS	Chart Industries Inc	3,657	$754,183
ALGN	Align Technology Inc	3,782	$590,559
ITRI	Itron, Inc.	2,208	$205,034
DTST	Data Storage Corp	15,000	$76,800
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

208 positions · $3,041,182,708 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 208 positions by value · page 1 of 5

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
AAPL	Apple Inc. Technology	Reduced	691,507	-15,059	$175,497,561	−8.6%	5.77%
AVGO	Broadcom Inc. Technology	Reduced	509,263	-1,696	$157,621,991	−10.9%	5.18%
GOOGL	Alphabet Inc. Communication Services	Reduced	388,502	-7,458	$111,717,635	−9.9%	3.67%
MSFT	Microsoft Corp Technology	Added	294,296	+2,524	$108,939,550	−22.8%	3.58%
PANW	Palo Alto Networks Inc Technology	Added	566,661	+6,203	$90,847,091	−12.0%	2.99%
NVDA	Nvidia Corp Technology	Reduced	489,301	-11,206	$85,334,094	−8.6%	2.81%
CAT	Caterpillar Inc Industrials	Reduced	116,396	-4,171	$82,461,910	+19.4%	2.71%
MAR	Marriott International Inc /Md/ Consumer Cyclical	Reduced	222,137	-3,684	$72,654,348	+3.7%	2.39%
AMZN	Amazon Com Inc Consumer Cyclical	Added	335,044	+6,591	$69,779,613	−8.0%	2.29%
MA	Mastercard Inc Financial Services	Added	129,091	+818	$64,501,609	−11.9%	2.12%
WMT	Walmart Inc. Consumer Defensive	Reduced	477,776	-13,852	$59,378,001	+8.4%	1.95%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	190,490	-434	$56,034,538	−8.9%	1.84%
CSCO	Cisco Systems, Inc. Technology	Reduced	637,913	-3,338	$49,495,669	+0.2%	1.63%
GS	Goldman Sachs Group Inc Financial Services	Reduced	55,579	-908	$47,019,278	−5.3%	1.55%
AXP	American Express Co Financial Services	Reduced	154,755	-462	$46,810,292	−18.5%	1.54%
HD	Home Depot, Inc. Consumer Cyclical	Added	141,246	+1,316	$46,454,396	−3.5%	1.53%
RTX	RTX Corp Industrials	Reduced	237,492	-6,709	$45,812,206	+2.3%	1.51%
JNJ	Johnson & Johnson Healthcare	Reduced	167,082	-5,785	$40,841,524	+14.2%	1.34%
DIS	Walt Disney Co Communication Services	Added	417,459	+3,301	$40,234,698	−14.6%	1.32%
MRK	Merck & Co., Inc. Healthcare	Added	332,467	+595	$39,992,455	+14.5%	1.32%
BLK	BlackRock, Inc. Financial Services	Added	40,111	+1,065	$38,575,149	−7.7%	1.27%
MS	Morgan Stanley Financial Services	Reduced	223,795	-2,297	$36,829,943	−8.2%	1.21%
CRM	Salesforce, Inc. Technology	Added	196,277	+4,847	$36,639,027	−27.8%	1.20%
MLM	Martin Marietta Materials Inc Basic Materials	Reduced	62,239	-1,538	$36,638,854	−7.7%	1.20%
BAC	Bank Of America Corp /De/ Financial Services	Added	722,145	+289	$35,204,568	−11.3%	1.16%
C	Citigroup Inc Financial Services	Reduced	292,214	-3,983	$33,139,989	−4.1%	1.09%
MCD	Mcdonalds Corp Consumer Cyclical	Added	104,532	+321	$32,487,500	+2.0%	1.07%
CVX	Chevron Corp Energy	Reduced	153,757	-4,880	$31,812,323	+31.6%	1.05%
MDY	Spdr S&P Midcap 400 ETF Trust	Reduced	49,152	-769	$30,314,987	+0.7%	1.00%
FDX	Fedex Corp Industrials	Reduced	102,017	-1,380	$29,279,950	+21.7%	0.96%
EQIX	Equinix Inc Real Estate	Reduced	29,724	-665	$29,136,653	+25.1%	0.96%
SYF	Synchrony Financial Financial Services	Reduced	412,180	-5,699	$28,036,483	−19.6%	0.92%
TMO	Thermo Fisher Scientific Inc. Healthcare	Added	56,987	+554	$28,010,820	−14.3%	0.92%
COF	Capital One Financial Corp Financial Services	Added	147,455	+3,050	$26,900,215	−23.1%	0.88%
COST	Costco Wholesale Corp /New Consumer Defensive	Reduced	26,927	-57	$26,830,870	+15.3%	0.88%
COP	Conocophillips Energy	Reduced	199,032	-5,894	$26,272,224	+37.0%	0.86%
META	Meta Platforms, Inc. Communication Services	Added	43,352	+9,826	$24,802,979	+12.1%	0.82%
ZTS	Zoetis Inc. Healthcare	Added	209,297	+4,496	$24,740,998	−4.0%	0.81%
PEP	Pepsico Inc Consumer Defensive	Added	159,266	+1,636	$24,732,417	+9.3%	0.81%
BA	Boeing Co Industrials	Reduced	111,272	-660	$22,146,466	−8.9%	0.73%
UNH	Unitedhealth Group Inc Healthcare	Added	80,404	+1,835	$21,756,518	−16.1%	0.72%
CSX	Csx Corp Industrials	Reduced	516,427	-14,993	$21,199,328	+10.0%	0.70%
DD	DuPont de Nemours, Inc. Basic Materials	Added	153,614	+1,310	$21,106,563	+14.9%	0.69%
INTC	Intel Corp Technology	Reduced	476,267	-5,062	$21,017,662	+18.3%	0.69%
NOW	ServiceNow, Inc. Technology	Added	195,076	+16,565	$20,395,195	−25.4%	0.67%
KO	Coca Cola Co Consumer Defensive	Reduced	266,073	-1,798	$20,234,851	+8.1%	0.67%
AMT	American Tower Corp /Ma/ Real Estate	Added	116,814	+424	$20,159,760	−1.3%	0.66%
VZ	Verizon Communications Inc Communication Services	Reduced	399,777	-7,003	$20,068,805	+21.1%	0.66%
YUMC	Yum China Holdings, Inc. Consumer Cyclical	Reduced	407,989	-4,381	$19,901,703	+1.1%	0.65%
T	At&T Inc. Communication Services	Reduced	684,186	-15,588	$19,834,552	+14.1%	0.65%