HERITAGE INVESTORS MANAGEMENT CORP

CIK 0000937589 · Q2 2026

13F Equity AUM

$3.6M

+9.7% QoQ

Positions

257

+8 QoQ

AUM Rank

#8,488

Top 97%

Skill Alpha (FF)

-0.2%/yr^ns

No Clear Edge

Rank #3,077 · Top 37%

vs S&P -0.2%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 22.8%Top 10: 36.0%Top 20: 51.4%

AAPL5.4%

PANW5.2%

AVGO5.0%

GOOGL3.7%

GOOG3.4%

CAT3.1%

MSFT3.0%

NVDA2.7%

MAR2.2%

AMZN2.2%

Others (247)64.0%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Technology29.6%

Financial Services18.1%

Communication Services10.3%

Industrials10.3%

Consumer Cyclical9.1%

Healthcare8.4%

Consumer Defensive4.9%

Energy2.9%

Other6.4%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 257Median: 0.09%Avg: 0.39%

0–0.5%

203(22.0%)

0.5–1%

26(17.9%)

1–3%

21(31.2%)

3–5%

4(13.2%)

5%+

3(15.6%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 257vs 20 funds

0%Low

257

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New15Increased39Decreased154Exited7

New Positions

HONEYWELL INTL INC0.2%

+34K

HONEYWELL AEROSPACE …0.2%

+34K

FEDEX FGHT HLDG CO I…0.2%

+49K

DUPONT DE NEMOURS IN…0.2%

+50K

TSM0.0%

+492

DAL0.0%

+4K

VXUS0.0%

+3K

EMR0.0%

+2K

AMAT0.0%

+335

VUG0.0%

+2K

Increased

VO0.5%

+172K(+295%)

NFLX0.3%

+57K(+82%)

NOW0.6%

+25K(+13%)

BSX0.3%

+16K(+8%)

CMG0.5%

+10K(+2%)

T0.4%

+8K(+1%)

IGSB0.0%

+6K(+117%)

META0.8%

+5K(+12%)

IWF0.0%

+5K(+233%)

CRM0.9%

+4K(+2%)

Decreased

CMCSA0.1%

-82,024(-31%)

INTC1.6%

-53,862(-11%)

NKE0.3%

-42,417(-13%)

PFE0.2%

-38,628(-10%)

CSX0.6%

-37,546(-7%)

BAC0.4%

-30,420(-8%)

BAC1.1%

-28,409(-4%)

AVGO5.0%

-26,286(-5%)

SYF0.8%

-22,101(-5%)

NEE0.4%

-20,013(-12%)

Exited

HON

-68,120

-153,614

-12,050

-13,123

-9,490

-957

-892

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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