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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
+12.74%
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
$22.5B
AUM Growth
+$1.28B
Cap. Flow
-$1.15B
Cap. Flow %
-5.12%
Top 10 Hldgs %
39.55%
Holding
141
New
7
Increased
23
Reduced
64
Closed
1

Top Buys

Rank Stock Value
1
BIDU icon
Baidu
BIDU
+$165M
2
CRM icon
Salesforce
CRM
+$150M
3
WDAY icon
Workday
WDAY
+$147M
4
HSBC icon
HSBC
HSBC
+$97.9M
5
CL icon
Colgate-Palmolive
CL
+$72.3M

Top Sells

Rank Stock Value
1
AMZN icon
Amazon
AMZN
+$242M
2
GRFS
Grifois
GRFS
+$196M
3
IPGP icon
IPG Photonics
IPGP
+$136M
4
CHKP icon
Check Point Software Technologies
CHKP
+$132M
5
PYPL icon
PayPal
PYPL
+$78.5M

Sector Composition

Rank Sector Weight
1 Technology 23.47%
2 Financials 22.05%
3 Communication Services 14.45%
4 Consumer Discretionary 10.66%
5 Consumer Staples 8.18%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NKE icon
26
Nike
NKE
$57B
$294M 1.31%
2,898,174
-378,371
-12% -$35.7M
NVDA icon
27
NVIDIA
NVDA
$5.56T
$263M 1.17%
44,677,520
-5,775,640
-11% -$30M
TCOM icon
28
Trip.com Group
TCOM
$25.8B
$261M 1.16%
7,772,892
-259,254
-3% -$8.36M
CEO
29
DELISTED
CNOOC Limited
CEO
$260M 1.16%
1,561,164
-7,706
-0.5% -$1.18M
CL icon
30
Colgate-Palmolive
CL
$70.8B
$255M 1.13%
3,704,471
+1,060,805
+40% +$72.3M
JOBS
31
DELISTED
51job Inc
JOBS
$252M 1.12%
2,968,175
+28,160
+1% +$2.25M
CIB icon
32
Grupo Cibest SA
CIB
$23.8B
$247M 1.1%
4,499,681
-44,924
-1% -$2.32M
REGN icon
33
Regeneron Pharmaceuticals
REGN
$85.2B
$228M 1.01%
607,342
-84,936
-12% -$28.6M
BAP icon
34
Credicorp
BAP
$30.4B
$228M 1.01%
1,069,346
-11,026
-1% -$2.31M
ASR icon
35
Grupo Aeroportuario del Sureste
ASR
$7.72B
$227M 1.01%
1,209,072
-8,338
-0.7% -$1.42M
MSFT icon
36
Microsoft
MSFT
$3.71T
$221M 0.98%
1,404,020
-174,088
-11% -$25.6M
WAT icon
37
Waters Corp
WAT
$40.2B
$201M 0.89%
859,083
-109,089
-11% -$24.1M
ABT icon
38
Abbott
ABT
$187B
$199M 0.89%
2,295,968
-292,421
-11% -$24.5M
LIN icon
39
Linde
LIN
$220B
$193M 0.86%
906,136
-23,612
-3% -$4.76M
DIS icon
40
Walt Disney
DIS
$182B
$190M 0.85%
1,314,534
-167,317
-11% -$23.4M
META icon
41
Meta Platforms (Facebook)
META
$1.57T
$189M 0.84%
922,112
-116,312
-11% -$22.5M
SIVB
42
DELISTED
SVB Financial Group
SIVB
$188M 0.84%
749,902
-91,591
-11% -$20.8M
HSBC icon
43
HSBC
HSBC
$367B
$187M 0.83%
4,775,568
+2,582,158
+118% +$97.9M
BBVA icon
44
Banco Bilbao Vizcaya Argentaria
BBVA
$163B
$169M 0.75%
30,242,415
-4,491,711
-13% -$23.9M
XOM icon
45
ExxonMobil
XOM
$656B
$167M 0.74%
2,396,791
-310,905
-11% -$21.5M
DEO icon
46
Diageo
DEO
$49.6B
$163M 0.73%
970,068
-30,541
-3% -$4.96M
TS icon
47
Tenaris
TS
$28.5B
$158M 0.7%
6,969,713
-120,932
-2% -$2.6M
CRM icon
48
Salesforce
CRM
$213B
$156M 0.69%
958,285
+958,155
+737,042% +$150M
WDAY icon
49
Workday
WDAY
$47.2B
$146M 0.65%
888,580
+888,440
+634,600% +$147M
ILMN icon
50
Illumina
ILMN
$33B
$142M 0.63%
440,828
-57,531
-12% -$17.4M
1
2
3 4 5

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FMI
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VAS
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DPIM
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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
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URS
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AAM
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Harding Loevner's Q4 2019 Portfolio in Review

As of Q4 2019, Harding Loevner held 141 positions worth $22.5B, up 6% from $21.2B the previous quarter. Its ten largest holdings account for 40% of the portfolio.

Harding Loevner withdrew a net $1.15B in Q4 2019, closing 1 position and reducing 64 holdings. Its most notable exit was Amazon, an estimated $242M position sold in full.

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.

Against the trend, Harding Loevner opened a new position in iShares MSCI EAFE ETF worth $19.3M.

  • Harding Loevner's largest Q4 2019 buy was iShares MSCI EAFE ETF: 278,464 shares worth $19.3M.
  • Harding Loevner added most to Baidu in Q4 2019, an estimated $165M increase.
  • Harding Loevner's biggest Q4 2019 reduction was Grifois, cutting an estimated $196M.
  • Harding Loevner fully exited Amazon in Q4 2019, selling an estimated $242M.
  • Harding Loevner's ten largest holdings make up 40% of its $22.5B portfolio in Q4 2019.
  • Harding Loevner opened 7 new positions and closed 1 in Q4 2019.
  • Harding Loevner's portfolio value rose 6% quarter-over-quarter to $22.5B.

Based on Harding Loevner's 13F filing for Q4 2019, filed 14 Feb 2020.