HERITAGE INVESTORS MANAGEMENT CORP
Long book
$3.29B
Q1 2026
Positions
249
Top-10 weight
32%
concentration
Last quarter
+14.3%
SPY +14.8%
Turnover
6%
of book per quarter
Strategy in plain words
auto-generated from filingsHERITAGE INVESTORS MANAGEMENT CORP is an institutional manager, running a $3.29B US long book across 249 positions.
The portfolio is moderately concentrated (top 10 ≈ 32% of the book). The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: APPLE INC, BROADCOM INC, ALPHABET INC-CL A, MICROSOFT CORP, ALPHABET INC-CL C.
Over the last 9 quarters its long book ran on average 0.2pp per quarter behind the S&P 500, beating the index in 4 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+1.5%
Q2 2024
+6.0%
Q3 2024
+3.6%
Q4 2024
-5.7%
Q1 2025
+9.7%
Q2 2025
+7.5%
Q3 2025
+4.5%
Q4 2025
-3.2%
Q1 2026
+14.3%
Sector allocation
Technology 36%
Financials 13%
Consumer discretionary 11%
Industrials 11%
Healthcare 8%
Services media 8%
Energy 4%
Consumer staples 3%
Long book by quarter
What does HERITAGE INVESTORS own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| AAPL APPLE INC | Technology | 691.5K | $175.5M | 5.3% | -2.1% |
| AVGO BROADCOM INC | Technology | 509.3K | $157.6M | 4.8% | -0.3% |
| GOOGL ALPHABET INC-CL A | Technology | 388.5K | $111.7M | 3.4% | -1.9% |
| MSFT MICROSOFT CORP | Technology | 294.3K | $108.9M | 3.3% | +0.9% |
| GOOG ALPHABET INC-CL C | Technology | 364.6K | $104.6M | 3.2% | -2.1% |
| PANW PALO ALTO NETWORKS INC | Technology | 566.7K | $90.8M | 2.8% | +1.1% |
| NVDA NVIDIA CORP | Technology | 489.3K | $85.3M | 2.6% | -2.2% |
| CAT CATERPILLAR INC | Industrials | 116.4K | $82.5M | 2.5% | -3.5% |
| MAR MARRIOTT INTERNATIONAL -CL A | Services media | 222.1K | $72.7M | 2.2% | -1.6% |
| AMZN AMAZON.COM INC | Consumer discretionary | 335.0K | $69.8M | 2.1% | +2.0% |
| MA MASTERCARD INC - A | Services media | 129.1K | $64.5M | 2.0% | +0.6% |
| WMT WALMART INC | Consumer discretionary | 477.8K | $59.4M | 1.8% | -2.8% |
| JPM JPMORGAN CHASE & CO | Financials | 190.5K | $56.0M | 1.7% | -0.2% |
| CSCO CISCO SYSTEMS INC | Technology | 637.9K | $49.5M | 1.5% | -0.5% |
| GS GOLDMAN SACHS GROUP INC | Financials | 55.6K | $47.0M | 1.4% | -1.6% |
| AXP AMERICAN EXPRESS CO | Financials | 154.8K | $46.8M | 1.4% | -0.3% |
| HD HOME DEPOT INC | Consumer discretionary | 141.2K | $46.5M | 1.4% | +0.9% |
| RTX RTX CORP | Industrials | 237.5K | $45.8M | 1.4% | -2.7% |
| JNJ JOHNSON & JOHNSON | Healthcare | 167.1K | $40.8M | 1.2% | -3.3% |
| DIS WALT DISNEY CO/THE | Services media | 417.5K | $40.2M | 1.2% | +0.8% |
| MRK MERCK & CO. INC. | Healthcare | 332.5K | $40.0M | 1.2% | +0.2% |
| BLK BLACKROCK INC | Financials | 40.1K | $38.6M | 1.2% | +2.7% |
| MS MORGAN STANLEY | Financials | 223.8K | $36.8M | 1.1% | -1.0% |
| MLM MARTIN MARIETTA MATERIALS | Materials | 62.2K | $36.6M | 1.1% | -2.4% |
| CRM SALESFORCE INC | Technology | 196.3K | $36.6M | 1.1% | +2.5% |
| FDX FEDEX CORP | Industrials | 102.0K | $36.3M | 1.1% | -1.3% |
| BAC BANK OF AMERICA CORP | Financials | 722.1K | $35.2M | 1.1% | 0.0% |
| C CITIGROUP INC | Financials | 292.2K | $33.1M | 1.0% | -1.3% |
| MCD MCDONALD'S CORP | Consumer discretionary | 104.5K | $32.5M | 1.0% | +0.3% |
| CVX CHEVRON CORP | Energy | 153.8K | $31.8M | 1.0% | -3.1% |
| SYF SYNCHRONY FINANCIAL | Financials | 412.2K | $28.0M | 0.9% | -1.4% |
| TMO THERMO FISHER SCIENTIFIC INC | Other | 57.0K | $28.0M | 0.9% | +1.0% |
| COF CAPITAL ONE FINANCIAL CORP | Financials | 147.5K | $26.9M | 0.8% | +2.1% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 26.9K | $26.8M | 0.8% | -0.2% |
| COP CONOCOPHILLIPS | Energy | 199.0K | $26.3M | 0.8% | -2.9% |
| META META PLATFORMS INC-CLASS A | Technology | 43.4K | $24.8M | 0.8% | +29.3% |
| ZTS ZOETIS INC | Healthcare | 209.3K | $24.7M | 0.8% | +2.2% |
| PEP PEPSICO INC | Consumer staples | 159.3K | $24.7M | 0.8% | +1.0% |
| BA BOEING CO/THE | Industrials | 111.3K | $22.1M | 0.7% | -0.6% |
| UNH UNITEDHEALTH GROUP INC | Financials | 80.4K | $21.8M | 0.7% | +2.3% |
| CSX CSX CORP | Industrials | 516.4K | $21.2M | 0.6% | -2.8% |
| INTC INTEL CORP | Technology | 476.3K | $21.0M | 0.6% | -1.1% |
| NOW SERVICENOW INC | Technology | 195.1K | $20.4M | 0.6% | +9.3% |
| KO COCA-COLA CO/THE | Consumer staples | 266.1K | $20.2M | 0.6% | -0.7% |
| VZ VERIZON COMMUNICATIONS INC | Communications | 399.8K | $20.1M | 0.6% | -1.7% |
| YUMC YUM CHINA HOLDINGS INC | Consumer discretionary | 408.0K | $19.9M | 0.6% | -1.1% |
| T AT&T INC | Communications | 684.2K | $19.8M | 0.6% | -2.2% |
| AMGN AMGEN INC | Healthcare | 54.8K | $19.3M | 0.6% | -1.6% |
| APD AIR PRODUCTS & CHEMICALS INC | Materials | 65.6K | $19.1M | 0.6% | -0.4% |
| PCAR PACCAR INC | Industrials | 164.5K | $19.0M | 0.6% | -1.8% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 24, 2026 | 249 | $3.29B | $K fixed canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 6, 2026 | 245 | $3.43B | $K fixed canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 4, 2025 | 251 | $3.35B | $K fixed canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 4, 2025 | 252 | $3.16B | $K fixed canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 5, 2025 | 254 | $2.92B | $K fixed canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 5, 2025 | 255 | $3.10B | $K fixed canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 30, 2024 | 254 | $3.00B | $K fixed canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 30, 2024 | 252 | $2.86B | $K fixed canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 29, 2024 | 255 | $2.83B | $K fixed canonical | SEC ↗ |
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