UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 2000
Check here if Amendment [ ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Heritage Investors Management Corp.
Address: 7101 Wisconsin Avenue
Suite 1112
Bethesda, MD 20814
13F File Number: 28-4650
The institutional investment manager filing this report and the
person by whom it is signed hereby represent that the person
signing the report is authorized to submit it, that all
information contained herein is true, correct and complete, and
that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of
this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Michael S. Cornfeld
Title: President
Phone: 301-951-0440
Signature, Place, and Date of Signing:
Michael S. Cornfeld Bethesda, Maryland April 14, 2000
Report Type (Check only one.):
[ X ] 13F HOLDINGS REPORT
[ ] 13F NOTICE
[ ] 13F COMBINATION REPORT
List of Other Managers Reporting for this Manager:
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE
ACT OF 1934
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FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 154
Form 13F Information Table Value Total: $324,955
List of Other Included Managers:
No. 13F File Number Name
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FORM 13F INFORMATION TABLE
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5
ITEM 6 ITEM 7 ITEM 8
VALUE SHARES/
SH/ PUT/ INVSTMT ---VOTINGAUTHORITY---
NAME OF ISSUER TITLE OF CLASS CUSIP X$1000 PRN AMT
PR CALL DSCRET MGRS SOLE SHARED NONE
AT&T CORP COM 001957109 3,115 55,311
SH SOLE 55,311 0 0
AT&T CORP-LIBERTY MEDIA GROUP COM 001957208 88 1,475
SH SOLE 1,475 0 0
ABBOTT LABORATORIES COM 002824100 1,675 47,610
SH SOLE 47,610 0 0
AEGON N.V. SPONSORED ADR 007924103 360 4,466
SH SOLE 4,466 0 0
AIR PRODUCTS & CHEMICALS INC COM 009158106 1,098 38,600
SH SOLE 38,600 0 0
ALLSTATE CORP COM 020002101 118 4,958
SH SOLE 4,958 0 0
AMERICA ONLINE INC COM 02364J104 469 6,955
SH SOLE 6,955 0 0
AMERICAN EXPRESS CO COM 025816109 4,763 31,980
SH SOLE 31,980 0 0
AMERICAN HOME PRODUCTS CORP COM 026609107 4,743 88,235
SH SOLE 88,235 0 0
AMERICAN INTL GROUP COM 026874107 294 2,681
SH SOLE 2,681 0 0
AMGEN INC COM 031162100 7,475 121,800
SH SOLE 121,800 0 0
ANHEUSER BUSCH COS INC COM 035229103 3,108 49,925
SH SOLE 49,925 0 0
ARCHER DANIELS MIDLAND CO COM 039483102 1,484 143,934
SH SOLE 143,934 0 0
ASSOCIATES FIRST CAPITAL COM 046008108 362 16,934
SH SOLE 16,934 0 0
ATLANTIC RICHFIELD CO COM 048825103 992 11,665
SH SOLE 11,665 0 0
BP AMOCO PLC ADR SPONSORED ADR 055622104 465 8,736
SH SOLE 8,736 0 0
BANK OF AMERICA CORP COM 060505104 1,565 29,838
SH SOLE 29,838 0 0
BELL ATLANTIC CORP COM 077853109 291 4,765
SH SOLE 4,765 0 0
BERKSHIRE HATHAWAY CLASS B COM 084670207 2,581 1,418
SH SOLE 1,418 0 0
BESTFOODS COM 08658U101 2,078 44,398
SH SOLE 44,398 0 0
BLOCK H & R INC COM 093671105 1,011 22,589
SH SOLE 22,589 0 0
BOEING CO COM 097023105 2,754 72,823
SH SOLE 72,823 0 0
BRISTOL-MYERS SQUIBB CO COM 110122108 5,105 88,011
SH SOLE 88,011 0 0
BROADCOM CORP CL A COM 111320107 267 1,100
SH SOLE 1,100 0 0
CSX CORP COM 126408103 374 15,907
SH SOLE 15,907 0 0
CABOT CORP COM 127055101 305 10,000
SH SOLE 10,000 0 0
CALLAWAY GOLF CO COM 131193104 728 46,975
SH SOLE 46,975 0 0
CALPINE CORP COM 131347106 188 2,000
SH SOLE 2,000 0 0
CANANDAIGUA BRANDS INC CL A COM 137219200 717 14,050
SH SOLE 14,050 0 0
CAPITAL ONE FINANCIAL CORP COM 14040H105 259 5,400
SH SOLE 5,400 0 0
CATERPILLAR INC COM 149123101 179 4,527
SH SOLE 4,527 0 0
CHOICE HOTELS INTL INC COM 169905106 1,016 70,375
SH SOLE 70,375 0 0
CIRCUIT CITY STORES-CARMAX GRP COM 172737306 133 40,000
SH SOLE 40,000 0 0
CISCO SYSTEMS INC COM 17275R102 723 9,356
SH SOLE 9,356 0 0
CITIGROUP INC COM 172967101 3,940 65,797
SH SOLE 65,797 0 0
COCA COLA CO COM 191216100 1,919 40,889
SH SOLE 40,889 0 0
COMPAQ COMPUTER COM 204493100 1,764 65,350
SH SOLE 65,350 0 0
CONAGRA INC COM 205887102 1,107 61,050
SH SOLE 61,050 0 0
CONEXANT SYSTEMS INC COM 207142100 142 2,000
SH SOLE 2,000 0 0
CONOCO INC CLASS B COM 208251405 3,024 117,996
SH SOLE 117,996 0 0
COOPER INDUSTRIES INC COM 216669101 702 20,059
SH SOLE 20,059 0 0
CORN PRODUCTS INTL INC COM 219023108 758 31,487
SH SOLE 31,487 0 0
DELL COMPUTER CORP COM 247025109 124 2,300
SH SOLE 2,300 0 0
DELPHI AUTOMOTIVE SYSTEMS COM 247126105 1,686 105,374
SH SOLE 105,374 0 0
DELTA AIR LINES INC COM 247361108 2,727 51,210
SH SOLE 51,210 0 0
DISNEY WALT CO COM 254687106 3,323 80,566
SH SOLE 80,566 0 0
DU PONT E I DE NEMOURS COM 263534109 2,962 55,957
SH SOLE 55,957 0 0
EASTMAN CHEMICAL CO COM 277432100 2,048 45,019
SH SOLE 45,019 0 0
EASTMAN KODAK CO COM 277461109 2,482 45,704
SH SOLE 45,704 0 0
ELAN CORP PLC SPONSORED ADR 284131208 166 3,500
SH SOLE 3,500 0 0
EQUITY INCOME FUND - AT & T COM 294700703 157 800
SH SOLE 800 0 0
ERICSSON L M TEL CO SPONSORED ADR 294821400 263 2,800
SH SOLE 2,800 0 0
EXXON MOBIL CORP COM 30231G102 5,401 69,298
SH SOLE 69,298 0 0
FANNIE MAE COM 313586109 5,004 88,462
SH SOLE 88,462 0 0
FEDERAL REALTY INVESTMENT TR COM 313747206 654 33,886
SH SOLE 33,886 0 0
FINOVA GROUP INC COM 317928109 1,534 91,240
SH SOLE 91,240 0 0
FIRST UNION CORP COM 337358105 250 6,712
SH SOLE 6,712 0 0
FLUOR CORP COM 343861100 1,880 60,630
SH SOLE 60,630 0 0
FORD MOTOR CO COM 345370100 1,574 34,264
SH SOLE 34,264 0 0
GANNETT INC COM 364730101 2,875 40,852
SH SOLE 40,852 0 0
GAP INC COM 364760108 7,958 159,763
SH SOLE 159,763 0 0
GENERAL ELECTRIC CO COM 369604103 23,794 152,894
SH SOLE 152,894 0 0
GENERAL MILLS INC COM 370334104 118 3,272
SH SOLE 3,272 0 0
GENERAL MOTORS CORP COM 370442105 2,472 29,848
SH SOLE 29,848 0 0
GEORGIA PACIFIC--GA PAC GROUP COM 373298108 893 22,566
SH SOLE 22,566 0 0
GILLETTE CO COM 375766102 2,228 59,129
SH SOLE 59,129 0 0
GUIDANT CORP COM 401698105 7,571 128,595
SH SOLE 128,595 0 0
HERSHEY FOODS CORP COM 427866108 1,133 23,250
SH SOLE 23,250 0 0
HEWLETT PACKARD CO COM 428236103 385 2,900
SH SOLE 2,900 0 0
HOME DEPOT INC COM 437076102 3,586 55,598
SH SOLE 55,598 0 0
HONEYWELL INTL INC COM 438516106 2,521 47,843
SH SOLE 47,843 0 0
INDEPENDENCE FED SVGS BANK COM 453432106 506 44,000
SH SOLE 44,000 0 0
INTEL CORP COM 458140100 8,042 60,950
SH SOLE 60,950 0 0
INTERNATIONAL BUSINESS MACHINE COM 459200101 8,391 71,106
SH SOLE 71,106 0 0
INTERNATIONAL PAPER CO COM 460146103 1,550 36,250
SH SOLE 36,250 0 0
ISPAT INTL N V SPONSORED ADR 464899103 165 11,100
SH SOLE 11,100 0 0
JDS UNIPHASE CORP COM 46612J101 844 7,000
SH SOLE 7,000 0 0
JOHNSON & JOHNSON COM 478160104 7,442 105,932
SH SOLE 105,932 0 0
KELLOGG CO COM 487836108 480 18,650
SH SOLE 18,650 0 0
KIMBERLY CLARK CORP COM 494368103 3,065 54,678
SH SOLE 54,678 0 0
LEE ENTERPRISES INC COM 523768109 249 9,550
SH SOLE 9,550 0 0
LEGGETT & PLATT INC COM 524660107 116 5,400
SH SOLE 5,400 0 0
LEXMARK INTL GROUP INC CL A COM 529771107 169 1,600
SH SOLE 1,600 0 0
LIBERTY CORP COM 530370105 1,144 30,500
SH SOLE 30,500 0 0
LILLY ELI & CO COM 532457108 2,440 38,964
SH SOLE 38,964 0 0
LIZ CLAIBORNE INC COM 539320101 1,078 23,533
SH SOLE 23,533 0 0
LOCKHEED MARTIN CORP COM 539830109 103 5,029
SH SOLE 5,029 0 0
LOEWS CORP COM 540424108 747 14,950
SH SOLE 14,950 0 0
LUCENT TECHNOLOGIES INC COM 546463107 4,063 66,332
SH SOLE 66,332 0 0
MBIA INC COM 55262C100 2,442 46,898
SH SOLE 46,898 0 0
MBNA CORP COM 55262L100 1,538 60,330
SH SOLE 60,330 0 0
MCI WORLDCOM INC COM 55268B106 3,851 84,984
SH SOLE 84,984 0 0
MANOR CARE INC COM 564055101 1,833 135,782
SH SOLE 135,782 0 0
MARRIOTT INTL CLASS A COM 571903202 160 5,095
SH SOLE 5,095 0 0
MARTIN MARIETTA MATERIALS INC COM 573284106 2,673 56,270
SH SOLE 56,270 0 0
MAY DEPT STORES CO COM 577778103 6,601 231,602
SH SOLE 231,602 0 0
MCDONALDS CORP COM 580135101 5,978 159,936
SH SOLE 159,936 0 0
MCKESSON HBOC INC COM 58155Q105 581 27,679
SH SOLE 27,679 0 0
MERCK & CO INC COM 589331107 6,057 97,497
SH SOLE 97,497 0 0
MICROSOFT CORP COM 594918104 6,330 59,581
SH SOLE 59,581 0 0
MILLIPORE COM 601073109 181 3,200
SH SOLE 3,200 0 0
MINNESOTA MINING & MANUF CO COM 604059105 2,875 32,466
SH SOLE 32,466 0 0
MONSANTO CO COM 611662107 176 3,420
SH SOLE 3,420 0 0
J.P. MORGAN & CO COM 616880100 1,377 10,454
SH SOLE 10,454 0 0
MORGAN STANLEY DEAN WITTER COM 617446448 3,411 41,156
SH SOLE 41,156 0 0
MOTOROLA INC COM 620076109 8,020 54,930
SH SOLE 54,930 0 0
NETWORK APPLIANCE INC COM 64120L104 132 1,600
SH SOLE 1,600 0 0
NEW YORK TIMES CO CL A COM 650111107 715 16,650
SH SOLE 16,650 0 0
NIKE INC CLASS B COM 654106103 1,690 42,640
SH SOLE 42,640 0 0
NORFOLK SOUTHERN CORP COM 655844108 1,311 92,004
SH SOLE 92,004 0 0
ORACLE CORP COM 68389X105 169 2,160
SH SOLE 2,160 0 0
OWENS CORNING COM 69073F103 58 3,000
SH SOLE 3,000 0 0
PMC-SIERRA INC COM 69344F106 570 2,800
SH SOLE 2,800 0 0
PMI GROUP INC COM 69344M101 2,240 47,211
SH SOLE 47,211 0 0
PACCAR INC COM 693718108 3,518 70,368
SH SOLE 70,368 0 0
PALL CORP COM 696429307 1,249 55,650
SH SOLE 55,650 0 0
PAYLESS SHOESOURCE INC COM 704379106 2,280 43,900
SH SOLE 43,900 0 0
PEPSICO INC COM 713448108 4,729 135,611
SH SOLE 135,611 0 0
PFIZER INC COM 717081103 3,629 99,244
SH SOLE 99,244 0 0
PHILIP MORRIS COS INC COM 718154107 1,548 73,287
SH SOLE 73,287 0 0
POTOMAC ELECTRIC POWER CO COM 737679100 222 9,822
SH SOLE 9,823 0 0
PRAXAIR INC COM 74005P104 1,401 33,650
SH SOLE 33,650 0 0
T ROWE PRICE & ASSOCIATES COM 741477103 1,189 30,100
SH SOLE 30,100 0 0
PROCTER & GAMBLE CO COM 742718109 4,005 70,891
SH SOLE 70,891 0 0
PURCHASEPRO.COM COM 746144104 362 5,000
SH SOLE 5,000 0 0
QUALCOMM INC COM 747525103 1,226 8,210
SH SOLE 8,210 0 0
RAYTHEON CO CLASS A COM 755111309 1,192 63,338
SH SOLE 63,338 0 0
RAYTHEON CO CLASS B COM 755111408 5 300
SH SOLE 300 0 0
ROYAL DUTCH PETROLEUM COM 780257804 145 2,500
SH SOLE 2,500 0 0
SBC COMMUNICATIONS INC COM 78387G103 2,609 61,939
SH SOLE 61,939 0 0
SLM HOLDING CORP COM 78442A109 3,970 119,171
SH SOLE 119,171 0 0
ST PAUL COS INC COM 792860108 287 8,418
SH SOLE 8,418 0 0
SCHERING PLOUGH CORP COM 806605101 5,381 144,941
SH SOLE 144,941 0 0
SCHLUMBERGER LTD COM 806857108 4,605 60,191
SH SOLE 60,191 0 0
SERVICE CORP INTERNATIONAL COM 817565104 276 91,938
SH SOLE 91,938 0 0
STUDENT LOAN CORP COM 863902102 401 9,800
SH SOLE 9,800 0 0
SUNBURST HOSPITALITY CORP COM 866948102 141 28,590
SH SOLE 28,590 0 0
SUNTRUST BANKS INC COM 867914103 951 16,463
SH SOLE 16,463 0 0
SYLVAN LEARNING SYSTEMS INC COM 871399101 143 9,000
SH SOLE 9,000 0 0
TEXAS INSTRUMENTS INC COM 882508104 224 1,400
SH SOLE 1,400 0 0
TOYS R US COM 892335100 1,174 79,275
SH SOLE 79,275 0 0
TRICON GLOBAL RESTAURANTS COM 895953107 2,302 74,117
SH SOLE 74,117 0 0
UNION PACIFIC CORP COM 907818108 1,716 43,854
SH SOLE 43,854 0 0
UNION PACIFIC RESOURCES GROUP COM 907834105 1,066 73,539
SH SOLE 73,539 0 0
UNITED BANKSHARES INC COM 909907107 121 5,500
SH SOLE 5,500 0 0
UNITED TECHNOLOGIES CORP COM 913017109 1,653 26,160
SH SOLE 26,160 0 0
VERITAS SOFTWARE CO COM 923436109 413 3,150
SH SOLE 3,150 0 0
WAL MART STORES INC COM 931142103 6,180 109,380
SH SOLE 109,380 0 0
WARNER LAMBERT CO COM 934488107 4,972 50,896
SH SOLE 50,986 0 0
WASHINGTON GAS LIGHT CO COM 938837101 302 11,121
SH SOLE 11,121 0 0
WASHINGTON POST CO CL B COM 939640108 4,241 7,840
SH SOLE 7,840 0 0
WILLIAMS COMPANIES COM 969457100 145 3,300
SH SOLE 3,300 0 0
XEROX CORP COM 984121103 1,125 43,280
SH SOLE 43,280 0 0
M-SYSTEMS FLASH DISK PIONEER COM M7061C100 286 5,400
SH SOLE 5,400 0 0
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