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HL

Harding Loevner Portfolio holdings

AUM $9.72B
1-Year Est. Return 22.38%
This Fund
S&P 500
This Quarter Est. Return
+3.21%
1 Year Est. Return
+22.38%
3 Year Est. Return
+79.36%
5 Year Est. Return
+98.01%
10 Year Est. Return
+375.62%
AUM
$19.2B
AUM Growth
+$1.63B
Cap. Flow
+$1.26B
Cap. Flow %
6.53%
Top 10 Hldgs %
39.72%
Holding
157
New
25
Increased
37
Reduced
42
Closed
5

Top Buys

Rank Stock Value
1
TSM icon
TSMC
TSM
+$259M
2
BIDU icon
Baidu
BIDU
+$176M
3
RDS.B
Royal Dutch Shell PLC ADS Class B
RDS.B
+$171M
4
FRC
First Republic Bank
FRC
+$149M
5
SLB icon
SLB Ltd
SLB
+$102M

Top Sells

Rank Stock Value
1
NKE icon
Nike
NKE
+$156M
2
SIVB
SVB Financial Group
SIVB
+$146M
3
VEU icon
Vanguard FTSE All-World ex-US ETF
VEU
+$25M
4
INDA icon
iShares MSCI India ETF
INDA
+$23.5M
5
BKNG icon
Booking.com
BKNG
+$17.3M

Sector Composition

Rank Sector Weight
1 Financials 22.34%
2 Technology 18.75%
3 Communication Services 13.57%
4 Energy 9.81%
5 Consumer Discretionary 9.62%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BAP icon
26
Credicorp
BAP
$30.7B
$239M 1.24%
1,054,097
+4,374
+0.4% +$971K
MA icon
27
Mastercard
MA
$493B
$235M 1.22%
1,340,586
-33,750
-2% -$5.77M
ASR icon
28
Grupo Aeroportuario del Sureste
ASR
$8.3B
$233M 1.21%
1,366,956
+45,252
+3% +$8.34M
SHPG
29
DELISTED
Shire pic
SHPG
$223M 1.16%
1,479,426
+588,243
+66% +$81M
SIVB
30
DELISTED
SVB Financial Group
SIVB
$222M 1.15%
923,675
-580,580
-39% -$146M
FMS icon
31
Fresenius Medical Care
FMS
$12.9B
$216M 1.13%
4,236,858
+240,540
+6% +$12.8M
REGN icon
32
Regeneron Pharmaceuticals
REGN
$80.8B
$216M 1.12%
625,564
-6,347
-1% -$2.21M
BSAC icon
33
Banco Santander Chile
BSAC
$16.6B
$212M 1.1%
6,319,004
+98
+0% +$3.25K
AAPL icon
34
Apple
AAPL
$4.57T
$210M 1.09%
5,002,084
-154,416
-3% -$6.65M
IPGP icon
35
IPG Photonics
IPGP
$3.84B
$204M 1.06%
875,625
-18,919
-2% -$4.67M
META icon
36
Meta Platforms (Facebook)
META
$1.51T
$196M 1.02%
1,227,147
-31,564
-3% -$5.67M
NKE icon
37
Nike
NKE
$61.9B
$194M 1.01%
2,924,671
-2,365,505
-45% -$156M
ABEV icon
38
Ambev
ABEV
$46.4B
$178M 0.93%
24,552,211
-34,663
-0.1% -$238K
AMZN icon
39
Amazon
AMZN
$2.96T
$177M 0.92%
2,450,220
-62,020
-2% -$4.44M
CIB icon
40
Grupo Cibest SA
CIB
$21.1B
$173M 0.9%
4,126,701
+19,913
+0.5% +$867K
WAT icon
41
Waters Corp
WAT
$39.9B
$172M 0.89%
865,717
-6,590
-0.8% -$1.36M
CL icon
42
Colgate-Palmolive
CL
$74.4B
$168M 0.88%
2,350,297
-45,820
-2% -$3.3M
CTSH icon
43
Cognizant
CTSH
$26B
$152M 0.79%
1,887,077
-160,114
-8% -$12.7M
NBIS
44
Nebius Group N.V.
NBIS
$47.7B
$149M 0.78%
3,799,301
+87,724
+2% +$3.44M
EBAY icon
45
eBay
EBAY
$49.8B
$149M 0.77%
3,700,789
-118,105
-3% -$4.89M
CHL
46
DELISTED
China Mobile Limited
CHL
$143M 0.74%
3,122,759
-1,466
-0% -$71.1K
WPP icon
47
WPP
WPP
$5.94B
$142M 0.74%
1,705,716
+651,300
+62% +$57.9M
BMA icon
48
Banco Macro
BMA
$5.35B
$138M 0.72%
1,275,371
+348,115
+38% +$37.8M
SSL icon
49
Sasol
SSL
$7.1B
$137M 0.71%
4,030,468
+1,446,878
+56% +$50M
ABT icon
50
Abbott
ABT
$187B
$136M 0.71%
2,277,068
-50,696
-2% -$3.05M
1
2
3 4 5

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FCM
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CCM
Cullen Capital Management New York $9.75B AUM 21.81% 1-Year Est. Return
URS
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MPI
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TIM
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SC
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TCA
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Harding Loevner's Q1 2018 Portfolio in Review

As of Q1 2018, Harding Loevner held 157 positions worth $19.2B, up 9.3% from $17.6B the previous quarter. Its ten largest holdings account for 40% of the portfolio.

Harding Loevner deployed $1.26B of net new capital in Q1 2018, opening 25 new positions and adding to 37 existing holdings. Its largest new stake was Telecom Argentina: 329,750 shares worth $10.3M.

By sector, the portfolio is most concentrated in Financials at 22% of assets, down from 23% a quarter earlier, followed by Technology and Communication Services.

On the sell side, the largest reduction was Nike, an estimated $156M trimmed.

  • Harding Loevner's largest Q1 2018 buy was Telecom Argentina: 329,750 shares worth $10.3M.
  • Harding Loevner added most to TSMC in Q1 2018, an estimated $259M increase.
  • Harding Loevner's biggest Q1 2018 reduction was Nike, cutting an estimated $156M.
  • Harding Loevner fully exited iShares MSCI India ETF in Q1 2018, selling an estimated $23.5M.
  • Harding Loevner's ten largest holdings make up 40% of its $19.2B portfolio in Q1 2018.
  • Harding Loevner opened 25 new positions and closed 5 in Q1 2018.
  • Harding Loevner's portfolio value rose 9.3% quarter-over-quarter to $19.2B.

Based on Harding Loevner's 13F filing for Q1 2018, filed 14 May 2018.