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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
+16.71%
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
$21.3B
AUM Growth
+$4B
Cap. Flow
+$1.22B
Cap. Flow %
5.74%
Top 10 Hldgs %
37.61%
Holding
143
New
4
Increased
59
Reduced
27
Closed
11
Avg Time Held
11.4 quarters
Top 10 Avg Time Held
9.2 quarters
Top 20 Avg Time Held
10 quarters

Top Buys

Rank Stock Value
1
CHL
China Mobile Limited
CHL
+$520M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$426M
3
ABEV icon
Ambev
ABEV
+$207M
4
DEO icon
Diageo
DEO
+$162M
5
ILMN icon
Illumina
ILMN
+$144M

Top Sells

Rank Stock Value
1
TS icon
Tenaris
TS
+$263M
2
ITUB icon
Itaú Unibanco
ITUB
+$151M
3
RDS.B
Royal Dutch Shell PLC ADS Class B
RDS.B
+$143M
4
COR icon
Cencora
COR
+$140M
5
NVDA icon
NVIDIA
NVDA
+$129M

Sector Composition

Rank Sector Weight
1 Technology 23.38%
2 Financials 21.86%
3 Communication Services 13.02%
4 Consumer Discretionary 11.75%
5 Consumer Staples 7.79%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
BBD icon
26
Banco Bradesco
BBD
$45.5B
$280M 1.31%
40,946,041
+538,223
+1% +$3.87M
2013 Q2
23 quarters
NKE icon
27
Nike
NKE
$51.6B
$279M 1.31%
3,309,364
+85,652
+3% +$7.07M
2013 Q2
23 quarters
JOBS
28
DELISTED
51job Inc
JOBS
$264M 1.24%
3,385,471
-489,009
-13% -$34M
2013 Q2
23 quarters
AAPL icon
29
Apple
AAPL
$4.91T
$260M 1.22%
5,481,592
+38,272
+0.7% +$1.62M
2017 Q2
7 quarters
BAP icon
30
Credicorp
BAP
$30.3B
$257M 1.21%
1,071,090
+5,461
+0.5% +$1.3M
2013 Q2
23 quarters
AMZN icon
31
Amazon
AMZN
$2.83T
$247M 1.16%
2,769,760
+70,140
+3% +$5.84M
2015 Q1
16 quarters
WAT icon
32
Waters Corp
WAT
$42.6B
$246M 1.16%
978,584
+25,323
+3% +$5.77M
2014 Q2
19 quarters
NVDA icon
33
NVIDIA
NVDA
$5.54T
$230M 1.08%
51,249,760
-33,368,120
-39% -$129M
2017 Q4
5 quarters
WBC
34
DELISTED
WABCO HOLDINGS INC.
WBC
$227M 1.07%
1,724,811
+44,580
+3% +$5.49M
2016 Q3
10 quarters
CIB icon
35
Grupo Cibest SA
CIB
$22.4B
$225M 1.06%
4,400,466
+37,146
+0.9% +$1.73M
2013 Q2
23 quarters
XOM icon
36
ExxonMobil
XOM
$695B
$218M 1.03%
2,700,288
+1,051,904
+64% +$80.2M
2013 Q2
23 quarters
ABT icon
37
Abbott
ABT
$172B
$210M 0.99%
2,622,771
+67,136
+3% +$5M
2013 Q2
23 quarters
TS icon
38
Tenaris
TS
$28.9B
$196M 0.92%
6,941,272
-10,176,428
-59% -$263M
2013 Q2
23 quarters
CL icon
39
Colgate-Palmolive
CL
$70.4B
$183M 0.86%
2,671,404
+71,600
+3% +$4.62M
2013 Q2
23 quarters
MSFT icon
40
Microsoft
MSFT
$3.97T
$183M 0.86%
1,550,862
+51,618
+3% +$5.63M
2013 Q2
23 quarters
DEO icon
41
Diageo
DEO
$48.2B
$174M 0.82%
+1,063,948
New +$162M
2019 Q1
0 quarters
LIN icon
42
Linde
LIN
$223B
$174M 0.82%
1,034,981
+52,046
+5% +$8.65M
2018 Q4
1 quarter
BBVA icon
43
Banco Bilbao Vizcaya Argentaria
BBVA
$144B
$172M 0.81%
29,991,107
+5,540,287
+23% +$32.6M
2013 Q2
23 quarters
ASR icon
44
Grupo Aeroportuario del Sureste
ASR
$6.95B
$172M 0.81%
1,061,489
-1,304
-0.1% -$218K
2013 Q2
23 quarters
TCOM icon
45
Trip.com Group
TCOM
$24.5B
$167M 0.78%
3,822,357
+34,625
+0.9% +$1.21M
2013 Q3
22 quarters
DIS icon
46
Walt Disney
DIS
$187B
$167M 0.78%
1,502,400
+36,794
+3% +$4.11M
2017 Q2
7 quarters
UL icon
47
Unilever
UL
$134B
$164M 0.77%
2,526,548
-17,604
-0.7% -$1.07M
2013 Q2
23 quarters
CTSH icon
48
Cognizant
CTSH
$26.7B
$159M 0.75%
2,191,554
+60,852
+3% +$4.26M
2017 Q2
7 quarters
CGNX icon
49
Cognex
CGNX
$10.6B
$159M 0.75%
3,117,822
+88,880
+3% +$4.26M
2018 Q2
3 quarters
WBA
50
DELISTED
Walgreens Boots Alliance
WBA
$157M 0.74%
2,481,933
+63,659
+3% +$4.35M
2016 Q4
9 quarters
1
2
3 4 5

Similar funds

FMI
Factory Mutual Insurance Waltham, Massachusetts $10.6B AUM 34.1% 1-Year Est. Return
VAS
Vestmark Advisory Solutions Wakefield, Massachusetts $10.6B AUM 25.02% 1-Year Est. Return
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 Q1 2019 Portfolio in Review

As of Q1 2019, Harding Loevner held 143 positions worth $21.3B, up 23% from $17.3B the previous quarter. Its ten largest holdings account for 38% of the portfolio.

Harding Loevner deployed $1.22B of net new capital in Q1 2019, opening 4 new positions and adding to 59 existing holdings. Its largest new stake was Diageo: 1,063,948 shares worth $174M.

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

On the sell side, the largest reduction was Tenaris, an estimated $263M trimmed.

  • Harding Loevner's largest Q1 2019 buy was Diageo: 1,063,948 shares worth $174M.
  • Harding Loevner added most to China Mobile Limited in Q1 2019, an estimated $520M increase.
  • Harding Loevner's biggest Q1 2019 reduction was Tenaris, cutting an estimated $263M.
  • Harding Loevner fully exited iShares MSCI ACWI ex US ETF in Q1 2019, selling an estimated $40.7M.
  • Harding Loevner's ten largest holdings make up 38% of its $21.3B portfolio in Q1 2019.
  • Harding Loevner opened 4 new positions and closed 11 in Q1 2019.
  • Harding Loevner's portfolio value rose 23% quarter-over-quarter to $21.3B.

Based on Harding Loevner's 13F filing for Q1 2019, filed 15 May 2019.