# Heritage Investors Management Corp

> Heritage Investors Management Corp is an SEC-registered investment advisory firm in Bethesda, MD, registered since 1975, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated August 27, 2026.

- CRD: 110420
- Filed as: HERITAGE INVESTORS MANAGEMENT CORP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Bethesda, MD
- Filing period: October 2026
- Form ADV filing dated: August 27, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/110420
- AdvisorCensus page: https://advisorcensus.com/firm/heritage-investors-management-corp-bethesda-md-110420

## Quick answers

**How is Heritage Investors Management Corp compensated?**
On its Form ADV (Item 5.E, October 2026), Heritage Investors Management Corp reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees).

**Where is Heritage Investors Management Corp located?**
Heritage Investors Management Corp's principal office is in Bethesda, MD, according to its Form ADV.

**Is Heritage Investors Management Corp registered with the SEC or a state?**
Heritage Investors Management Corp is an SEC-registered investment advisory firm, registered since 1975. Status as filed: Approved. CRD 110420.

**How much does Heritage Investors Management Corp manage?**
Heritage Investors Management Corp reports $4,632,533,441 in regulatory assets under management in its Form ADV filing dated August 27, 2026 (100% discretionary).

**How have Heritage Investors Management Corp's assets and staff changed since 2021?**
In the Form ADV data for Heritage Investors Management Corp: Regulatory assets under management: $3,083,050,755 in the October 2021 data and $4,632,533,441 in the October 2026 data, up 50%. Total employees: 15 in October 2021 and 22 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Heritage Investors Management Corp serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (585); individuals (other than high net worth individuals) (97); corporations or other businesses not listed above (34).

**Which custodians does Heritage Investors Management Corp use?**
Heritage Investors Management Corp's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists 7501 Wisconsin Avenue, Suite 1500W as a custodian holding 10% or more of its separately managed account assets.

**Does Heritage Investors Management Corp report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/110420

**Does Heritage Investors Management Corp state an account minimum?**
Its Form ADV Part 2A brochure dated March 30, 2026 says: "Our minimum account size for new relationships is $2,000,000 although exceptions are made from time to time."

**What changed in Heritage Investors Management Corp's recent Form ADV filings?**
In the September 2026 filing data: Registered or notice-filed in AZ, VT. Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)

### Fees and minimums (Form ADV Part 2A brochure dated March 30, 2026)

- Account minimum: $2,000,000 (the brochure says it may be waived or negotiated)

> Our minimum account size for new relationships is $2,000,000 although exceptions are made from time to time.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- 7501 Wisconsin Avenue, Suite 1500W

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $4,632,533,441
- Discretionary: $4,621,394,995
- Non-discretionary: $11,138,446

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 97 | $63,060,894 |
| High net worth individuals | 585 | $3,956,913,422 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | $0 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 13 | $112,913,695 |
| Charitable organizations | 33 | $316,002,631 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 34 | $183,642,799 |
| Other | 0 | $0 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 1975 (51 years)
- Employees: 22 total, 8 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AZ, CA, CO, DC, DE, FL, GA, IL, LA, MA, MD, NC, NH, NJ, NM, NY, OR, PA, TX, VA, VT
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- heritageinvestors.com
- LinkedIn @heritage-investors-management

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $3,083,050,755 | 15 | September 1, 2021 |
| October 2022 | $3,615,921,442 | 16 | March 30, 2022 |
| October 2023 | $3,126,801,088 | 16 | July 10, 2023 |
| October 2024 | $3,663,856,037 | 20 | March 25, 2024 |
| October 2025 | $4,180,784,341 | 20 | July 17, 2025 |
| October 2026 | $4,632,533,441 | 22 | August 27, 2026 |

Regulatory assets under management: $3,083,050,755 in the October 2021 data and $4,632,533,441 in the October 2026 data, up 50%.
Total employees: 15 in October 2021 and 22 in October 2026.

## Changes in the filing (last 12 months)

### September 2026
- Registered or notice-filed in AZ, VT.
- Updated its list of owners and control persons (Schedule A).

### April 2026
- Regulatory assets under management went from $4,180,784,341 to $4,632,533,441 (+11%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Heritage Investors Management Corp (CRD 110420): Form ADV filing data as of October 2026.