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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
MMM icon
51
3M
MMM
$84.4B
$125M 0.65%
710,100
+20,982
+3% +$3.61M
EBAY icon
52
eBay
EBAY
$49.2B
$124M 0.64%
3,743,801
+151,394
+4% +$5.25M
FMX icon
53
Fomento Económico Mexicano
FMX
$44.1B
$117M 0.61%
1,178,842
+165,508
+16% +$15.9M
WBC
54
DELISTED
WABCO HOLDINGS INC.
WBC
$112M 0.59%
952,731
+28,094
+3% +$3.39M
HSBC icon
55
HSBC
HSBC
$345B
$111M 0.58%
2,647,638
-35,167
-1% -$1.52M
SSL icon
56
Sasol
SSL
$6.99B
$110M 0.57%
2,839,896
+29,801
+1% +$1.13M
WBA
57
DELISTED
Walgreens Boots Alliance
WBA
$109M 0.57%
1,497,793
+44,559
+3% +$3.03M
BSAC icon
58
Banco Santander Chile
BSAC
$15.6B
$109M 0.57%
3,409,318
-2,985,985
-47% -$94M
CBD
59
DELISTED
Companhia Brasileira de Distribuicao
CBD
$103M 0.54%
4,801,680
-2,867,867
-37% -$58.4M
WPP icon
60
WPP
WPP
$4.2B
$89.5M 0.47%
1,222,072
-13,296
-1% -$1.04M
BMA icon
61
Banco Macro
BMA
$5.81B
$73.6M 0.38%
1,777,888
+31,762
+2% +$1.71M
JD icon
62
JD.com
JD
$40.1B
$66.6M 0.35%
2,550,997
-4,844
-0.2% -$159K
EC icon
63
Ecopetrol
EC
$32.5B
$25M 0.13%
929,889
+8,400
+0.9% +$186K
INFY icon
64
Infosys
INFY
$46.7B
$24.4M 0.13%
2,395,358
+2,375,360
+11,878% +$24.2M
GGAL icon
65
Galicia Financial Group
GGAL
$8.06B
$7.59M 0.04%
298,452
-5,758
-2% -$174K
CHL
66
DELISTED
China Mobile Limited
CHL
$6.21M 0.03%
126,981
+123,251
+3,304% +$5.7M
TEO icon
67
Telecom Argentina
TEO
$5.73B
$5.67M 0.03%
325,260
-4,718
-1% -$86.8K
VEU icon
68
Vanguard FTSE All-World ex-US ETF
VEU
$66.1B
$4.82M 0.03%
92,632
+18,069
+24% +$942K
PX
69
DELISTED
Praxair Inc
PX
$4.32M 0.02%
26,878
+2,294
+9% +$368K
LOMA
70
Loma Negra
LOMA
$1.32B
$3.97M 0.02%
449,263
+176,363
+65% +$1.68M
UGP icon
71
Ultrapar
UGP
$6.67B
$1.89M 0.01%
408,866
+393,594
+2,577% +$2.1M
CLB icon
72
Core Laboratories
CLB
$530M
$1.36M 0.01%
11,713
-849
-7% -$95.8K
ST icon
73
Sensata Technologies
ST
$6.46B
$736K ﹤0.01%
14,850
-1,594
-10% -$83.5K
ALL icon
74
Allstate
ALL
$62.3B
$302K ﹤0.01%
3,058
– –
ELV icon
75
Elevance Health
ELV
$80.9B
$219K ﹤0.01%
800
– –
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.