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Asset Manager ← All Institutions

HERITAGE INVESTORS MANAGEMENT CORP

7101 WISCONSIN AVENUE STE 950, BETHESDA, MD 20814 • 3019510440

Q4 2025 · Filed 2026-02-06
Market Value
$3.4B
+2.6%
Holdings
256
+2
New Purchases
7
Added To
45
Closed
13
Reduced
145
Top 10 Concentration
34.0%
Turnover
7.8%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
GOOGL 3.61% 2.98% +0.63% $124M
GOOG 3.41% 2.79% +0.62% $117M
MAR 2.04% 1.81% +0.23% $70M
CAT 2.01% 1.79% +0.22% $69M
MRK 1.02% 0.83% +0.19% $35M
Q 0.17% 0.00% +0.17% $6M
CRM 1.48% 1.33% +0.15% $51M
FDX 0.87% 0.73% +0.14% $30M
AAPL 5.60% 5.46% +0.14% $192M
TMO 0.95% 0.82% +0.13% $33M
SYF 1.02% 0.90% +0.11% $35M
CSCO 1.44% 1.33% +0.11% $49M
AXP 1.67% 1.58% +0.09% $57M
COF 1.02% 0.93% +0.09% $35M
GS 1.45% 1.36% +0.09% $50M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
PANW 3.01% 3.44% -0.43% $103M
MSFT 4.11% 4.53% -0.42% $141M
HD 1.40% 1.67% -0.26% $48M
DD 0.18% 0.35% -0.18% $6M
AVGO 5.15% 5.33% -0.17% $177M
BLK 1.22% 1.36% -0.14% $42M
NKE 0.62% 0.76% -0.14% $21M
CMCSA 0.27% 0.40% -0.13% $9M
ZTS 0.75% 0.88% -0.12% $26M
ADBE 0.57% 0.69% -0.12% $20M
MSTR 0.10% 0.21% -0.11% $3M
STZ 0.49% 0.60% -0.11% $17M
ADP 0.53% 0.61% -0.08% $18M
ZBH 0.35% 0.43% -0.08% $12M
NVDA 2.72% 2.80% -0.08% $93M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Technology 25.7%
Financial Services 19.2%
Industrials 10.8%
Communication Services 10.3%
Consumer Cyclical 9.8%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 58 $2.0B 58.0%
Large Cap 154 $1.4B 41.0%
Mid Cap 25 $23M 0.7%
Small Cap 13 $8M 0.2%
Micro Cap 6 $3M 0.1%

Portfolio Analytics

Avg Market Cap
$254.5B
Median Market Cap
$75.7B
Avg P/E
32.8
Median P/E
24.7
Avg Dividend Yield
0.02%
Avg Beta
0.95
# Stocks
213
# ETFs / Funds
43

Top Holdings (256 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 AAPL 5.60% 706,566 $192M $271.86 $9M -10,565 -1.5%
2 AVGO 5.15% 510,959 $177M $346.10 -$1M -28,920 -5.4%
3 MSFT 4.11% 291,772 $141M $483.62 -$10M -719 -0.2%
4 GOOGL 3.61% 395,960 $124M $313.00 $24M -14,261 -3.5%
5 GOOG 3.41% 372,497 $117M $313.80 $24M -10,577 -2.8%
6 PANW 3.01% 560,458 $103M $184.20 -$12M -4,594 -0.8%
7 NVDA 2.72% 500,507 $93M $186.50 -$176K -733 -0.1%
8 AMZN 2.21% 328,453 $76M $230.82 $3M -1,152 -0.3%
9 MA 2.13% 128,273 $73M $570.88 -$189K -798 -0.6%
10 MAR 2.04% 225,821 $70M $310.24 $10M -6,549 -2.8%
11 CAT 2.01% 120,567 $69M $572.87 $9M -4,825 -3.9%
12 JPM 1.79% 190,924 $62M $322.22 $15K -4,060 -2.1%
13 AXP 1.67% 155,217 $57M $369.95 $5M -3,753 -2.4%
14 WMT 1.60% 491,628 $55M $111.41 $3M -6,358 -1.3%
15 CRM 1.48% 191,430 $51M $264.91 $6M +4,346 +2.3%
16 GS 1.45% 56,487 $50M $879.00 $4M -455 -0.8%
17 CSCO 1.44% 641,251 $49M $77.03 $5M -10,241 -1.6%
18 HD 1.40% 139,930 $48M $344.10 -$8M +2,472 +1.8%
19 DIS 1.37% 414,158 $47M $113.77 $671K +8,501 +2.1%
20 RTX 1.31% 244,201 $45M $183.40 $3M -3,026 -1.2%
21 BLK 1.22% 39,046 $42M $1,070.33 -$4M +39 +0.1%
22 MS 1.17% 226,092 $40M $177.53 $3M -5,583 -2.4%
23 MLM 1.16% 63,777 $40M $622.67 -$831K -549 -0.8%
24 BAC 1.16% 721,856 $40M $55.00 $2M -10,479 -1.4%
25 VB 1.08% 144,028 $37M $257.95 $226K -1,189 -0.8%
26 JNJ 1.04% 172,867 $36M $206.95 $4M -411 -0.2%
27 COF 1.02% 144,405 $35M $242.36 $4M -1,530 -1.1%
28 MRK 1.02% 331,872 $35M $105.26 $7M +2,211 +0.7%
29 SYF 1.02% 417,879 $35M $83.43 $5M -7,178 -1.7%
30 C 1.01% 296,197 $35M $116.69 $4M -8,379 -2.8%
31 TMO 0.95% 56,433 $33M $579.45 $5M -328 -0.6%
32 MCD 0.93% 104,211 $32M $305.63 -$44K -741 -0.7%
33 MDY 0.88% 49,921 $30M $603.27 $10K -589 -1.2%
34 FDX 0.87% 103,397 $30M $288.86 $5M -264 -0.2%
35 NOW 0.80% 178,511 $27M $153.19 -$91K +148,697 +498.8%
36 UNH 0.76% 78,569 $26M $330.12 -$2M -1,107 -1.4%
37 ZTS 0.75% 204,801 $26M $125.82 -$4M +4,597 +2.3%
38 BA 0.71% 111,932 $24M $217.12 -$84K -1,062 -0.9%
39 CVX 0.70% 158,637 $24M $152.41 -$502K -294 -0.2%
40 EQIX 0.68% 30,389 $23M $766.17 -$216K +387 +1.3%
41 COST 0.68% 26,984 $23M $862.33 $1M +2,970 +12.4%
42 IQV 0.67% 102,149 $23M $225.41 $3M -2,093 -2.0%
43 PEP 0.66% 157,630 $23M $143.52 $416K -496 -0.3%
44 META 0.65% 33,526 $22M $660.08 -$260K +3,038 +10.0%
45 NKE 0.62% 333,715 $21M $63.71 -$4M -29,357 -8.1%
46 AMT 0.60% 116,390 $20M $175.57 -$1M +3,142 +2.8%
47 YUMC 0.57% 412,370 $20M $47.74 $2M -4,014 -1.0%
48 ADBE 0.57% 55,946 $20M $350.00 -$4M -9,485 -14.5%
49 CMG 0.57% 529,085 $20M $37.00 $55K +30,965 +6.2%
50 ACN 0.57% 72,865 $20M $268.30 $532K -4,256 -5.5%
51 CSX 0.56% 531,420 $19M $36.25 $287K -2,991 -0.6%
52 COP 0.56% 204,926 $19M $93.61 -$267K -702 -0.3%
53 KO 0.55% 267,871 $19M $69.91 $772K -2,859 -1.1%
54 LDOS 0.54% 102,165 $18M $180.40 -$2M -3,429 -3.2%
55 PCAR 0.53% 167,600 $18M $109.51 $2M -1,442 -0.8%
56 AMGN 0.53% 55,687 $18M $327.31 $2M -1,786 -3.1%
57 ADP 0.53% 70,420 $18M $257.23 -$2M +623 +0.9%
58 INTC 0.52% 481,329 $18M $36.90 $2M -2,525 -0.5%
59 YUM 0.51% 116,517 $18M $151.28 -$215K -862 -0.7%
60 VO 0.51% 60,074 $17M $290.23 -$612K -1,365 -2.2%
61 T 0.51% 699,774 $17M $24.84 -$933K +51,218 +7.9%
62 BSX 0.50% 178,205 $17M $95.35 $58K +4,751 +2.7%
63 STZ 0.49% 122,269 $17M $137.96 -$3M -27,542 -18.4%
64 VZ 0.48% 406,780 $17M $40.73 -$1M +2,270 +0.6%
65 MCK 0.48% 20,192 $17M $820.28 $839K -162 -0.8%
66 APD 0.47% 65,843 $16M $247.01 -$2M -98 -0.1%
67 V 0.45% 44,064 $15M $350.72 $1M +2,978 +7.2%
68 ABBV 0.44% 65,612 $15M $228.49 -$376K -759 -1.1%
69 TROW 0.43% 144,012 $15M $102.38 -$2M -14,784 -9.3%
70 IBM 0.42% 48,534 $14M $296.20 $626K -197 -0.4%
71 LMT 0.42% 29,549 $14M $483.67 -$483K -48 -0.2%
72 NEE 0.40% 171,709 $14M $80.28 $665K -2,084 -1.2%
73 BURL 0.39% 46,426 $13M $288.85 $2M +653 +1.4%
74 HON 0.38% 67,077 $13M $195.09 -$81K +4,524 +7.2%
75 IEFA 0.35% 134,741 $12M $89.46 $247K -487 -0.4%
76 ZBH 0.35% 133,845 $12M $89.92 -$2M -12,149 -8.3%
77 VEU 0.34% 160,619 $12M $73.56 $366K +208 +0.1%
78 AER 0.34% 81,772 $12M $143.77 $2M -1,939 -2.3%
79 XOM 0.33% 94,590 $11M $120.34 $297K -3,733 -3.8%
80 PG 0.33% 78,605 $11M $143.31 -$858K -295 -0.4%
81 SLB 0.32% 283,962 $11M $38.38 $1M -1,681 -0.6%
82 EFA 0.32% 112,807 $11M $96.03 $101K -2,129 -1.9%
83 LIN 0.30% 24,453 $10M $426.41 -$1M -265 -1.1%
84 DDOG 0.29% 74,381 $10M $135.99 -$1K +3,341 +4.7%
85 PSX 0.29% 78,089 $10M $129.05 -$786K -1,777 -2.2%
86 TM 0.28% 45,501 $10M $214.06 $1M -187 -0.4%
87 LLY 0.28% 8,904 $10M $1,074.69 $3M -9 -0.1%
88 BRK-B 0.27% 18,694 $9M $502.67 -$19K -36 -0.2%
89 PFE 0.27% 375,470 $9M $24.90 -$919K -27,517 -6.8%
90 CMCSA 0.27% 312,006 $9M $29.89 -$4M -111,530 -26.3%
91 NSC 0.26% 30,367 $9M $288.70 -$563K -689 -2.2%
92 MDLZ 0.25% 162,146 $9M $53.83 -$252K +18,389 +12.8%
93 LHX 0.25% 29,092 $9M $293.59 -$474K -425 -1.4%
94 ADM 0.24% 142,359 $8M $57.49 -$814K -8,263 -5.5%
95 UNP 0.22% 33,172 $8M $231.31 $57K +950 +3.0%
96 BMY 0.22% 138,452 $7M $53.94 $829K -8,765 -6.0%
97 VTI 0.21% 21,495 $7M $335.24 -$204K -1,085 -4.8%
98 UPS 0.21% 71,421 $7M $99.19 $607K -6,126 -7.9%
99 PYPL 0.21% 120,867 $7M $58.38 -$2M -18,413 -13.2%
100 IEMG 0.20% 103,274 $7M $67.22 $59K -1,147 -1.1%

New Positions

SymbolValue% Port
Q $6M 0.17%
SOLS $710K 0.02%
DE $561K 0.02%
VRTX $220K 0.01%
NYT $213K 0.01%
DGII $206K 0.01%
FCHL $7K —%

Sold Out Positions

SymbolValue% Port
GGB —%
TROX —%
BAX —%
GD —%
CME —%
GBTC —%
VTRS —%
IWN —%
RPD —%
TMUS —%
GLDM —%
TTD —%
RBLX —%
View SEC EDGAR Filings for HERITAGE INVESTORS MANAGEMENT CORP →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms