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HL

Harding Loevner Portfolio holdings

AUM $10.6B
1-Year Est. Return 19.39%
This Fund
S&P 500
This Quarter Est. Return
-0.17%
1 Year Est. Return
+19.39%
3 Year Est. Return
+79.14%
5 Year Est. Return
+100.61%
10 Year Est. Return
+428.16%
AUM
$17.8B
AUM Growth
-$1.45B
Cap. Flow
-$1.04B
Cap. Flow %
-5.84%
Top 10 Hldgs %
39.23%
Holding
158
New
6
Increased
38
Reduced
44
Closed
21

Top Buys

Rank Stock Value
1
BABA icon
Alibaba
BABA
+$208M
2
CGNX icon
Cognex
CGNX
+$130M
3
BIDU icon
Baidu
BIDU
+$121M
4
ITUB icon
Itaú Unibanco
ITUB
+$72.8M
5
EPAM icon
EPAM Systems
EPAM
+$64.3M

Top Sells

Rank Stock Value
1
SHPG
Shire pic
SHPG
+$239M
2
RDS.B
Royal Dutch Shell PLC ADS Class B
RDS.B
+$159M
3
WB icon
Weibo
WB
+$155M
4
TSM icon
TSMC
TSM
+$155M
5
SAP icon
SAP
SAP
+$148M

Sector Composition

Rank Sector Weight
1 Financials 24.01%
2 Technology 19.18%
3 Communication Services 14.15%
4 Energy 11.4%
5 Consumer Discretionary 10.14%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NKE icon
26
Nike
NKE
$57B
$233M 1.31%
2,930,281
+5,610
+0.2% +$395K
AAPL icon
27
Apple
AAPL
$4.67T
$225M 1.27%
4,867,680
-134,404
-3% -$6.1M
BBVA icon
28
Banco Bilbao Vizcaya Argentaria
BBVA
$163B
$219M 1.23%
31,237,589
+276,407
+0.9% +$2.09M
REGN icon
29
Regeneron Pharmaceuticals
REGN
$85.2B
$213M 1.2%
618,639
-6,925
-1% -$2.17M
FMS icon
30
Fresenius Medical Care
FMS
$12.1B
$213M 1.2%
4,224,259
-12,599
-0.3% -$639K
ASR icon
31
Grupo Aeroportuario del Sureste
ASR
$7.72B
$212M 1.19%
1,333,165
-33,791
-2% -$5.63M
AMZN icon
32
Amazon
AMZN
$2.79T
$208M 1.17%
2,444,320
-5,900
-0.2% -$468K
BSAC icon
33
Banco Santander Chile
BSAC
$16.8B
$201M 1.13%
6,395,303
+76,299
+1% +$2.51M
CIB icon
34
Grupo Cibest SA
CIB
$23.8B
$200M 1.12%
4,177,300
+50,599
+1% +$2.39M
IPGP icon
35
IPG Photonics
IPGP
$3.32B
$192M 1.08%
870,631
-4,994
-0.6% -$1.18M
BBD icon
36
Banco Bradesco
BBD
$36.7B
$183M 1.03%
42,585,565
+552,935
+1% +$3M
NBIS
37
Nebius Group N.V.
NBIS
$61.5B
$170M 0.95%
4,722,149
+922,848
+24% +$32.2M
WAT icon
38
Waters Corp
WAT
$40.2B
$167M 0.94%
864,998
-719
-0.1% -$142K
UL icon
39
Unilever
UL
$138B
$165M 0.93%
2,647,742
-1,226,836
-32% -$76.2M
TV icon
40
Televisa
TV
$1.39B
$153M 0.86%
8,097,943
+948,437
+13% +$16.8M
CBD
41
DELISTED
Companhia Brasileira de Distribuicao
CBD
$153M 0.86%
7,669,547
+1,127,071
+17% +$23.6M
CL icon
42
Colgate-Palmolive
CL
$70.8B
$153M 0.86%
2,361,082
+10,785
+0.5% +$705K
CTSH icon
43
Cognizant
CTSH
$28.1B
$149M 0.84%
1,891,512
+4,435
+0.2% +$349K
ABT icon
44
Abbott
ABT
$187B
$141M 0.79%
2,314,223
+37,155
+2% +$2.25M
DIS icon
45
Walt Disney
DIS
$182B
$135M 0.76%
1,288,344
+11,486
+0.9% +$1.17M
COR icon
46
Cencora
COR
$63.2B
$135M 0.76%
1,583,410
+6,872
+0.4% +$604K
MSFT icon
47
Microsoft
MSFT
$3.71T
$133M 0.75%
1,351,401
-200
-0% -$19.4K
EBAY icon
48
eBay
EBAY
$46B
$130M 0.73%
3,592,407
-108,382
-3% -$4.22M
XOM icon
49
ExxonMobil
XOM
$656B
$124M 0.7%
1,500,668
+7,689
+0.5% +$613K
CGNX icon
50
Cognex
CGNX
$10.5B
$122M 0.69%
+2,743,171
New +$130M
1
2
3 4 5

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VAS
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DPIM
Duff & Phelps Investment Management Chicago, Illinois $10.6B AUM 18.62% 1-Year Est. Return
CA
Clearstead Advisors Cleveland, Ohio $10.6B AUM 24.87% 1-Year Est. Return
SCM
SCS Capital Management Boston, Massachusetts $10.6B AUM 19.73% 1-Year Est. Return
FCM
Frontier Capital Management Boston, Massachusetts $10.7B AUM 67.78% 1-Year Est. Return
URS
Utah Retirement Systems Salt Lake City, Utah $10.5B AUM 42.22% 1-Year Est. Return
AAM
Alphadyne Asset Management New York $10.5B AUM 37.62% 1-Year Est. Return

Harding Loevner's Q2 2018 Portfolio in Review

As of Q2 2018, Harding Loevner held 158 positions worth $17.8B, down 7.6% from $19.2B the previous quarter. Its ten largest holdings account for 39% of the portfolio.

Harding Loevner withdrew a net $1.04B in Q2 2018, closing 21 positions and reducing 44 holdings. Its most notable exit was Starbucks, an estimated $135M position sold in full.

By sector, the portfolio is most concentrated in Financials at 24% of assets, down from 24% a quarter earlier, followed by Technology and Communication Services.

Against the trend, Harding Loevner opened a new position in Cognex worth $122M.

  • Harding Loevner's largest Q2 2018 buy was Cognex: 2,743,171 shares worth $122M.
  • Harding Loevner added most to Alibaba in Q2 2018, an estimated $208M increase.
  • Harding Loevner's biggest Q2 2018 reduction was Shire pic, cutting an estimated $239M.
  • Harding Loevner fully exited Starbucks in Q2 2018, selling an estimated $135M.
  • Harding Loevner's ten largest holdings make up 39% of its $17.8B portfolio in Q2 2018.
  • Harding Loevner opened 6 new positions and closed 21 in Q2 2018.
  • Harding Loevner's portfolio value fell 7.6% quarter-over-quarter to $17.8B.

Based on Harding Loevner's 13F filing for Q2 2018, filed 14 Aug 2018.