HERITAGE INVESTORS MANAGEMENT CORP — 13F Holdings & Portfolio
CIK 937589 · latest 13F-HR filed 2026-10-29
HERITAGE INVESTORS MANAGEMENT CORP manages $3.52B in 13F-reported U.S. long-equity assets across 253 reported positions as of its 2026-09-30 13F-HR filing. Its largest disclosed positions are AAPL (6.01%), PANW (5.85%), AVGO (4.59%). Quarter over quarter (versus its 2026-06-30 filing) the fund opened 7 new positions and exited 11; 52 existing positions rose in reported value and 123 fell.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
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AUM
$3.52B
Long-equity book
Holdings
253
Distinct positions
Period
2026-09-30
Filed 2026-10-29
Q/Q Activity
+7 / −11 / ↑52 / ↓123
vs 2026-06-30
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
Portfolio map
Q3 26AAPL6.0% · -6%PANW5.8% · -6%AVGO4.6% · -4%MSFT4.2% · -2%GOOGL3.6% · -2%GOOG3.3% · -2%NVDA2.8% · -11%CAT2.3% · -4%AMZN2.3% · -1%MAR2.2% · -2%MA2.0% · -3%CSCO1.8% · -4%JPM1.6% · -6%WMT1.4% · +0%INTC1.4% · -4%GS1.3% · -4%CRM1.3% · -3%AXP1.3% · -4%MRK1.3% · -4%RTX1.2% · -2%DIS1.2% · -4%BLK1.2% · -2%JNJ1.2% · -3%HD1.2% · -1%VB1.1% · +1%TMO1.1% · -3%MS1.1% · -4%BAC1.0% · -6%C1.0% · -4%META1.0% · -4%DDOG0.9% · -1%CVX0.9% · -1%MLM0.8% · -3%MDY0.8% · -2%NOW0.8% · -3%EQIX0.8% · -4%UNH0.8% · -4%COF0.8% · -5%IQV0.8% · -10%FDX0.7% · -9%SYF0.7% · -8%MCD0.7% · +2%COST0.7% · -1%AMGN0.6% · -2%COP0.6% · -7%KO0.6% · -3%CSX0.6% · -11%BA0.5% · -3%PEP0.5% · -8%AMT0.5% · -4%VO0.5% · -0%APD0.5% · -1%PSX0.5% · -5%CMG0.5% · -2%ABBV0.5% · -2%ADP0.5% · -11%VZ0.5% · -4%PCAR0.5% · -10%V0.4% · -1%YUMC0.4% · -2%
Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.
Sector mix
% of 13F valueSectors from each company's SIC code; funds and ETFs grouped separately.
Biggest buys and sells
Q2 26 → Q3 26Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.
13F assets and positions
4 quartersTotal reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.
Top positions over time
reported valueThe eight largest current positions, valued at each quarter end.
Concentration
top 10 = 37.1%Cumulative share of the portfolio held in the largest N positions.
Firm Profile & Key People
As of the firm’s regulatory filing dated Oct 30, 2026.
Assets Under Management
$4.63B
Discretionary
$4.62B
Employees
22
Accounts
1,465
Address
7101 WISCONSIN AVENUE
SUITE 950
BETHESDA, MD 20814-4878
SUITE 950
BETHESDA, MD 20814-4878
Phone
(301) 951-0440
| Name | Title / Status | Ownership | Type |
|---|---|---|---|
| CORNFELD, MICHAEL, STEWART Control | PRESIDENT since Sep 1985 | 75% or more | Individual |
| CORNFELD, MICHAEL, STEWART Control | TRUSTEE OF SARAH CORNFELD 2012 TRUST, JENNIFER SCHENKER 2012 TRUST, MELISSA LYNN CORNFELD 2012 TRUST since Dec 2012 | Less than 5% | Individual |
| CORNFELD FAMILY 2012 TRUST | SHAREHOLDER since Mar 2018 | 5–10% | Domestic Entity |
| Cornfeld, Janet, Lynn | TRUSTEE OF CORNFELD FAMILY 2012 TRUST since Dec 2012 | Less than 5% | Individual |
| JENNIFER SCHENKER 2012 TRUST | SHAREHOLDER since Mar 2018 | 5–10% | Domestic Entity |
| KELLOGG, SUZANNE, ELIZABETH | CHIEF COMPLIANCE OFFICER since Oct 2026 | Less than 5% | Individual |
| LONG, KENNETH, JAMES | EXECUTIVE VICE PRESIDENT since Mar 2021 | Less than 5% | Individual |
| MELISSA LYNN CORNFELD 2012 TRUST | SHAREHOLDER since Mar 2018 | 5–10% | Domestic Entity |
| ROSEN, BETH, MARCI | CHIEF OPERATING OFFICER since Feb 2024 | Less than 5% | Individual |
| SARAH LYNN CORNFELD 2012 TRUST | SHAREHOLDER since Mar 2018 | 5–10% | Domestic Entity |
| SCHENKER, ANDREW, MARC | CHIEF INVESTMENT OFFICER since Mar 2021 | Less than 5% | Individual |
| STONE, DEREK, ROBERT | SENIOR VICE PRESIDENT since Mar 2021 | Less than 5% | Individual |
Ownership & leadership changes · 11 filings with changes since Mar 30, 2012
From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.
Oct 30, 2026 filing
- No longer listedLUKIN, CRAIG, L · CHIEF COMPLIANCE OFFICER · Less than 5% · listed since Aug 2025
- AddedKELLOGG, SUZANNE, ELIZABETH · CHIEF COMPLIANCE OFFICER · Less than 5%
Aug 27, 2026 filing
- No longer listedColas, Sophia · CHIEF COMPLIANCE OFFICER · Less than 5% · listed since Jul 2025
- Listed againLUKIN, CRAIG, L · CHIEF COMPLIANCE OFFICER · Less than 5%
Jul 17, 2025 filing
- No longer listedLUKIN, CRAIG, L · CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Feb 2025
- AddedColas, Sophia · CHIEF COMPLIANCE OFFICER · Less than 5%
Mar 21, 2025 filing
- No longer listedHILL, CHRISTOPHER, GEDDY · CHIEF COMPLIANCE OFFICER · Less than 5% · listed since Mar 2022
- AddedLUKIN, CRAIG, L · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
Mar 25, 2024 filing
- No longer listedTJORNEHOJ, GAYL, ALICE · CHIEF OPERATING OFFICER · Less than 5% · listed since Mar 2021
- AddedROSEN, BETH, MARCI · CHIEF OPERATING OFFICER · Less than 5%
Mar 29, 2022 filing
- AddedHILL, CHRISTOPHER, GEDDY · CHIEF COMPLIANCE OFFICER · Less than 5%
- ChangedCORNFELD, MICHAEL, STEWART · title PRESIDENT/CHIEF COMPLIANCE OFFICER / TRUSTEE OF SARAH CORNFELD 2012 TRUST, JENNIFER SCHENKER 2012 TRUST, MELISSA LYNN CORNFELD 2012 TRUST → PRESIDENT / TRUSTEE OF SARAH CORNFELD 2012 TRUST, JENNIFER SCHENKER 2012 TRUST, MELISSA LYNN CORNFELD 2012 TRUST
Sep 1, 2021 filing
- No longer listedKENNEDY, JEAN, MARIE · SENIOR VICE PRESIDENT · Less than 5% · listed since Mar 2021
Mar 29, 2021 filing
- ChangedKENNEDY, JEAN, MARIE · title VICE PRESIDENT → SENIOR VICE PRESIDENT
- ChangedLONG, KENNETH, JAMES · title VICE PRESIDENT → EXECUTIVE VICE PRESIDENT
- ChangedSCHENKER, ANDREW, MARC · title DIRECTOR OF RESEARCH → CHIEF INVESTMENT OFFICER
- ChangedSTONE, DEREK, ROBERT · title VICE PRESIDENT → SENIOR VICE PRESIDENT
- ChangedTJORNEHOJ, GAYL, ALICE · title VICE PRESIDENT & SECRETARY → CHIEF OPERATING OFFICER
Aug 26, 2020 filing
- No longer listedDEMAYO, MICHAEL · VICE PRESIDENT · Less than 5% · listed since Jan 2012
Mar 28, 2018 filing
- AddedCORNFELD FAMILY 2012 TRUST · SHAREHOLDER · 5–10%
- AddedCornfeld, Janet, Lynn · TRUSTEE OF CORNFELD FAMILY 2012 TRUST · Less than 5%
- AddedJENNIFER SCHENKER 2012 TRUST · SHAREHOLDER · 5–10%
- AddedMELISSA LYNN CORNFELD 2012 TRUST · SHAREHOLDER · 5–10%
- AddedSARAH LYNN CORNFELD 2012 TRUST · SHAREHOLDER · 5–10%
- ChangedCORNFELD, MICHAEL, STEWART · title PRESIDENT/CHIEF COMPLIANCE OFFICER → PRESIDENT/CHIEF COMPLIANCE OFFICER / TRUSTEE OF SARAH CORNFELD 2012 TRUST, JENNIFER SCHENKER 2012 TRUST, MELISSA LYNN CORNFELD 2012 TRUST
Older changes (2 more filings)
Mar 29, 2017 filing
- AddedSCHENKER, ANDREW, MARC · DIRECTOR OF RESEARCH · Less than 5%
Mar 30, 2012 filing (earliest on record)
- ListedCORNFELD, MICHAEL, STEWART · PRESIDENT/CHIEF COMPLIANCE OFFICER · 75% or more · control person
- ListedDEMAYO, MICHAEL · VICE PRESIDENT · Less than 5%
- ListedKENNEDY, JEAN, MARIE · VICE PRESIDENT · Less than 5%
- ListedLONG, KENNETH, JAMES · VICE PRESIDENT · Less than 5%
- ListedSTONE, DEREK, ROBERT · VICE PRESIDENT · Less than 5%
- ListedTJORNEHOJ, GAYL, ALICE · VICE PRESIDENT & SECRETARY · Less than 5%
Quarter-over-quarter changes
Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.
Top Adds (vs prior quarter)
- MICROSOFT CORP$37.8M +34.7%
- PALO ALTO NETWORKS INC$18.5M +9.9%
- APPLE INC$17.0M +8.7%
- SALESFORCE INC$13.2M +42.1%
- THERMO FISHER SCIENTIFIC INC$9.1M +31.1%
Top Trims
- CATERPILLAR INC-$29.5M -26.5%
- BROADCOM INC-$20.5M -11.3%
- INTEL CORP-$10.2M -17.3%
- HOME DEPOT INC-$10.1M -19.9%
- CISCO SYS INC-$8.6M -11.7%
New Positions
- EXXONMOBIL HOLDINGS CORP$13.1M
- TEVA PHARMACEUTICAL INDS LTD$1.1M
- ADI GLOBAL DISTR INC$781.0K
- DOMINION ENERGY INC$759.0K
- PRUDENTIAL FINL INC$505.0K
Exited Positions
- EXXON MOBIL CORP$12.3M
- TEVA PHARMACEUTICAL INDS LTD$1.5M
- ISHARES TR$292.0K
- MATCH GROUP INC NEW$268.0K
- TRINITY INDS INC$244.0K
HERITAGE INVESTORS MANAGEMENT CORP Holdings (2026-09-30)
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | APPLE INC | AAPL | 037833100 | $211.8M | 6.01% | 636,119 | SH |
| 2 | PALO ALTO NETWORKS INC | PANW | 697435105 | $206.0M | 5.85% | 518,536 | SH |
| 3 | BROADCOM INC | AVGO | 11135F101 | $161.9M | 4.59% | 461,054 | SH |
| 4 | MICROSOFT CORP | MSFT | 594918104 | $146.9M | 4.17% | 286,334 | SH |
| 5 | ALPHABET INC | GOOGL | 02079K305 | $126.3M | 3.58% | 367,098 | SH |
| 6 | ALPHABET INC | GOOG | 02079K107 | $117.4M | 3.33% | 344,425 | SH |
| 7 | NVIDIA CORPORATION | NVDA | 67066G104 | $98.2M | 2.79% | 430,089 | SH |
| 8 | CATERPILLAR INC | CAT | 149123101 | $81.7M | 2.32% | 100,773 | SH |
| 9 | AMAZON COM INC | AMZN | 023135106 | $81.5M | 2.31% | 327,121 | SH |
| 10 | MARRIOTT INTL INC NEW | MAR | 571903202 | $76.4M | 2.17% | 214,704 | SH |
| 11 | MASTERCARD INCORPORATED | MA | 57636Q104 | $69.4M | 1.97% | 125,825 | SH |
| 12 | CISCO SYS INC | CSCO | 17275R102 | $64.4M | 1.83% | 598,800 | SH |
| 13 | JPMORGAN CHASE & CO | JPM | 46625H100 | $57.8M | 1.64% | 174,674 | SH |
| 14 | WALMART INC | WMT | 931142103 | $49.2M | 1.40% | 473,127 | SH |
| 15 | INTEL CORP | INTC | 458140100 | $48.8M | 1.38% | 405,578 | SH |
| 16 | GOLDMAN SACHS GROUP INC | GS | 38141G104 | $46.2M | 1.31% | 51,359 | SH |
| 17 | SALESFORCE INC | CRM | 79466L302 | $44.7M | 1.27% | 194,534 | SH |
| 18 | AMERICAN EXPRESS CO | AXP | 025816109 | $44.3M | 1.26% | 145,763 | SH |
| 19 | MERCK & CO INC | MRK | 58933Y105 | $44.3M | 1.26% | 305,012 | SH |
| 20 | RTX CORPORATION | RTX | 75513E101 | $42.2M | 1.20% | 227,082 | SH |
| 21 | DISNEY WALT CO | DIS | 254687106 | $41.9M | 1.19% | 399,415 | SH |
| 22 | BLACKROCK INC | BLK | 09290D101 | $41.4M | 1.17% | 39,096 | SH |
| 23 | JOHNSON & JOHNSON | JNJ | 478160104 | $41.2M | 1.17% | 155,563 | SH |
| 24 | HOME DEPOT INC | HD | 437076102 | $40.7M | 1.15% | 142,893 | SH |
| 25 | VANGUARD INDEX FDS | VB | 922908751 | $38.7M | 1.10% | 135,937 | SH |
| 26 | THERMO FISHER SCIENTIFIC INC | TMO | 883556102 | $38.4M | 1.09% | 56,918 | SH |
| 27 | MORGAN STANLEY | MS | 617446448 | $37.8M | 1.07% | 201,079 | SH |
| 28 | BANK OF AMER CORP | BAC | 060505104 | $35.6M | 1.01% | 653,723 | SH |
| 29 | CITIGROUP INC | C | 172967424 | $33.9M | 0.96% | 262,153 | SH |
| 30 | META PLATFORMS INC | META | 30303M102 | $33.6M | 0.95% | 46,303 | SH |
| 31 | DATADOG INC | DDOG | 23804L103 | $30.9M | 0.88% | 112,816 | SH |
| 32 | CHEVRON CORPORATION | CVX | 166764100 | $30.6M | 0.87% | 149,749 | SH |
| 33 | MARTIN MARIETTA MATLS INC | MLM | 573284106 | $29.4M | 0.83% | 61,317 | SH |
| 34 | STATE STR SPDR S&P MIDCAP 40 | MDY | 78467Y107 | $29.2M | 0.83% | 44,499 | SH |
| 35 | SERVICENOW INC | NOW | 81762P102 | $28.5M | 0.81% | 212,986 | SH |
| 36 | EQUINIX INC | EQIX | 29444U700 | $28.5M | 0.81% | 28,140 | SH |
| 37 | UNITEDHEALTH GROUP INC | UNH | 91324P102 | $28.2M | 0.80% | 76,710 | SH |
| 38 | CAPITAL ONE FINL CORP | COF | 14040H105 | $27.0M | 0.77% | 140,060 | SH |
| 39 | IQVIA HLDGS INC | IQV | 46266C105 | $27.0M | 0.77% | 100,458 | SH |
| 40 | FEDEX CORP | FDX | 31428X106 | $26.1M | 0.74% | 91,379 | SH |
| 41 | SYNCHRONY FINANCIAL | SYF | 87165B103 | $25.5M | 0.72% | 359,205 | SH |
| 42 | MCDONALDS CORP | MCD | 580135101 | $25.1M | 0.71% | 108,889 | SH |
| 43 | COSTCO WHOLESALE CORPORATION | COST | 22160K105 | $24.8M | 0.70% | 27,281 | SH |
| 44 | AMGEN INC | AMGN | 031162100 | $22.0M | 0.63% | 52,261 | SH |
| 45 | CONOCOPHILLIPS | COP | 20825C104 | $22.0M | 0.62% | 175,975 | SH |
| 46 | COCA COLA CO | KO | 191216100 | $21.1M | 0.60% | 244,767 | SH |
| 47 | CSX CORP | CSX | 126408103 | $19.8M | 0.56% | 425,232 | SH |
| 48 | BOEING CO | BA | 097023105 | $19.1M | 0.54% | 102,646 | SH |
| 49 | PEPSICO INC | PEP | 713448108 | $18.7M | 0.53% | 147,437 | SH |
| 50 | AMERICAN TOWER CORP | AMT | 03027X100 | $18.4M | 0.52% | 112,305 | SH |
Filing History
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-09-30 | 2026-10-29 | $3.52B | 253 | 0000937589-26-000004 |
| 2026-06-30 | 2026-08-04 | $3.61B | 257 | 0000937589-26-000003 |
| 2026-03-31 | 2026-04-24 | $3.29B | 249 | 0000937589-26-000002 |
| 2025-12-31 | 2026-02-06 | $3.43B | 245 | 0000937589-26-000001 |
Filer Information
Address
7101 WISCONSIN AVENUE STE 950BETHESDA, MD 20814
Phone
(301) 951-0440
Filing Manager
HERITAGE INVESTORS MANAGEMENT CORP
BETHESDA, MD
Signatory
Vijittra Puckdee
Client Service Specialist