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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
+2.83%
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
+$1.39B
Cap. Flow
+$1.14B
Cap. Flow %
5.94%
Top 10 Hldgs %
40.55%
Holding
140
New
3
Increased
58
Reduced
20
Closed
6

Top Buys

1
ABEV icon
Ambev
ABEV
+$297M
2
BABA icon
Alibaba
BABA
+$178M
3
WB icon
Weibo
WB
+$120M
4
NBIS
Nebius Group N.V.
NBIS
+$107M
5
SAP icon
SAP
SAP
+$91.7M

Top Sells

1
BSAC icon
Banco Santander Chile
BSAC
+$94M
2
SIVB
SVB Financial Group
SIVB
+$93.4M
3
CBD
Companhia Brasileira de Distribuicao
CBD
+$58.4M
4
NTES icon
NetEase
NTES
+$42.7M
5
BAP icon
Credicorp
BAP
+$29.6M

Sector Composition

1 Technology 21.79%
2 Financials 19.73%
3 Communication Services 13.34%
4 Consumer Discretionary 10.29%
5 Industrials 9.08%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ASR icon
26
Grupo Aeroportuario del Sureste
ASR
$8.43B
$257M 1.34%
1,255,256
-77,909
-6% -$14.3M
REGN icon
27
Regeneron Pharmaceuticals
REGN
$71.2B
$257M 1.34%
636,898
+18,259
+3% +$6.95M
NKE icon
28
Nike
NKE
$66.1B
$255M 1.33%
3,013,868
+83,587
+3% +$6.71M
AMZN icon
29
Amazon
AMZN
$2.69T
$253M 1.32%
2,524,040
+79,720
+3% +$7.5M
BAP icon
30
Credicorp
BAP
$30.8B
$247M 1.29%
1,108,121
-132,514
-11% -$29.6M
FMS icon
31
Fresenius Medical Care
FMS
$12.9B
$216M 1.13%
4,197,815
-26,444
-0.6% -$1.32M
META icon
32
Meta Platforms (Facebook)
META
$1.69T
$215M 1.12%
1,306,654
+49,877
+4% +$9.03M
BBVA icon
33
Banco Bilbao Vizcaya Argentaria
BBVA
$142B
$194M 1.01%
30,796,895
-440,694
-1% -$2.93M
BBD icon
34
Banco Bradesco
BBD
$37.5B
$189M 0.99%
42,698,832
+113,267
+0.3% +$522K
SIVB
35
DELISTED
SVB Financial Group
SIVB
$184M 0.96%
591,789
-295,928
-33% -$93.4M
ABT icon
36
Abbott
ABT
$172B
$175M 0.91%
2,386,960
+72,737
+3% +$4.78M
WAT icon
37
Waters Corp
WAT
$37.1B
$174M 0.9%
891,228
+26,230
+3% +$5.08M
CIB icon
38
Grupo Cibest SA
CIB
$18.9B
$173M 0.9%
4,150,317
-26,983
-0.6% -$1.21M
EPAM icon
39
EPAM Systems
EPAM
$4.58B
$164M 0.86%
1,192,195
+657,457
+123% +$88.5M
UL icon
40
Unilever
UL
$135B
$164M 0.85%
2,645,933
-1,809
-0.1% -$114K
CL icon
41
Colgate-Palmolive
CL
$75.3B
$163M 0.85%
2,431,450
+70,368
+3% +$4.69M
MSFT icon
42
Microsoft
MSFT
$2.98T
$160M 0.84%
1,400,343
+48,942
+4% +$5.31M
CGNX icon
43
Cognex
CGNX
$10.6B
$158M 0.83%
2,839,070
+95,899
+3% +$4.92M
DIS icon
44
Walt Disney
DIS
$173B
$156M 0.81%
1,329,941
+41,597
+3% +$4.63M
CTSH icon
45
Cognizant
CTSH
$21.1B
$154M 0.8%
1,996,406
+104,894
+6% +$8.21M
COR icon
46
Cencora
COR
$59.9B
$150M 0.78%
1,631,396
+47,986
+3% +$4.15M
TCOM icon
47
Trip.com Group
TCOM
$27.5B
$145M 0.76%
3,911,683
+1,426,393
+57% +$57.9M
IPGP icon
48
IPG Photonics
IPGP
$4.39B
$145M 0.75%
927,005
+56,374
+6% +$10.5M
TV icon
49
Televisa
TV
$1.42B
$139M 0.73%
7,861,713
-236,230
-3% -$4.49M
XOM icon
50
ExxonMobil
XOM
$605B
$131M 0.68%
1,542,204
+41,536
+3% +$3.4M
1
2
3 4 5

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FCM
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CCM
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CIM
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URS
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MPI
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TIM
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DPIM
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Harding Loevner's Q3 2018 Portfolio in Review

As of Q3 2018, Harding Loevner held 140 positions worth $19.2B, up 7.8% from $17.8B the previous quarter. Its ten largest holdings account for 41% of the portfolio.

Harding Loevner deployed $1.14B of net new capital in Q3 2018, opening 3 new positions and adding to 58 existing holdings. Its largest new stake was iShares MSCI EAFE Growth ETF: 1,226 shares worth $98K.

By sector, the portfolio is most concentrated in Technology at 22% of assets, up from 19% a quarter earlier, followed by Financials and Communication Services.

On the sell side, the largest reduction was Banco Santander Chile, an estimated $94M trimmed.

  • Harding Loevner's largest Q3 2018 buy was iShares MSCI EAFE Growth ETF: 1,226 shares worth $98K.
  • Harding Loevner added most to Ambev in Q3 2018, an estimated $297M increase.
  • Harding Loevner's biggest Q3 2018 reduction was Banco Santander Chile, cutting an estimated $94M.
  • Harding Loevner fully exited NetEase in Q3 2018, selling an estimated $42.7M.
  • Harding Loevner's ten largest holdings make up 41% of its $19.2B portfolio in Q3 2018.
  • Harding Loevner opened 3 new positions and closed 6 in Q3 2018.
  • Harding Loevner's portfolio value rose 7.8% quarter-over-quarter to $19.2B.

Based on Harding Loevner's 13F filing for Q3 2018, filed 14 Nov 2018.