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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
+1.51%
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
$21.8B
AUM Growth
+$490M
Cap. Flow
+$439M
Cap. Flow %
2.02%
Top 10 Hldgs %
37.41%
Holding
142
New
10
Increased
31
Reduced
51
Closed
7
Avg Time Held
11.6 quarters
Top 10 Avg Time Held
7.3 quarters
Top 20 Avg Time Held
11 quarters

Top Buys

Rank Stock Value
1
SLB icon
SLB Ltd
SLB
+$193M
2
META icon
Meta Platforms (Facebook)
META
+$183M
3
ATHM icon
Autohome
ATHM
+$172M
4
NTES icon
NetEase
NTES
+$138M
5
RIO icon
Rio Tinto
RIO
+$91.3M

Top Sells

Rank Stock Value
1
WBC
WABCO HOLDINGS INC.
WBC
+$227M
2
EPAM icon
EPAM Systems
EPAM
+$97M
3
TV icon
Televisa
TV
+$85.5M
4
TCOM icon
Trip.com Group
TCOM
+$44.5M
5
JOBS
51job Inc
JOBS
+$34.8M

Sector Composition

Rank Sector Weight
1 Financials 22.91%
2 Technology 22.84%
3 Communication Services 13.14%
4 Consumer Discretionary 10.38%
5 Consumer Staples 8.36%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
RDS.B
51
DELISTED
Royal Dutch Shell PLC ADS Class B
RDS.B
$146M 0.67%
2,224,044
-31,611
-1% -$2.06M
2016 Q1
13 quarters
SIVB
52
DELISTED
SVB Financial Group
SIVB
$143M 0.66%
637,128
-8,468
-1% -$1.96M
2013 Q2
24 quarters
CTSH icon
53
Cognizant
CTSH
$26.7B
$137M 0.63%
2,163,638
-27,916
-1% -$1.83M
2017 Q2
8 quarters
VRTX icon
54
Vertex Pharmaceuticals
VRTX
$129B
$136M 0.62%
740,371
-11,673
-2% -$2.04M
2018 Q4
2 quarters
WBA icon
55
DELISTED
Walgreens Boots Alliance
WBA
$134M 0.61%
2,447,363
-34,570
-1% -$1.84M
2016 Q4
10 quarters
NTES icon
56
NetEase
NTES
$79.6B
$133M 0.61%
2,603,640
+2,602,085
+167,337% +$138M
2019 Q1
1 quarter
CGNX icon
57
Cognex
CGNX
$10.6B
$119M 0.54%
2,471,995
-645,827
-21% -$31.1M
2018 Q2
4 quarters
CBD
58
DELISTED
Companhia Brasileira de Distribuicao
CBD
$115M 0.53%
4,698,576
+95,579
+2% +$2.17M
2013 Q4
22 quarters
MMM icon
59
3M
MMM
$82.5B
$111M 0.51%
768,553
-11,225
-1% -$1.73M
2013 Q2
24 quarters
TCOM icon
60
Trip.com Group
TCOM
$24.5B
$99.5M 0.46%
2,695,343
-1,127,014
-29% -$44.5M
2013 Q3
23 quarters
HSBC icon
61
HSBC
HSBC
$318B
$97.9M 0.45%
2,346,063
-185,476
-7% -$7.77M
2015 Q3
15 quarters
RIO icon
62
Rio Tinto
RIO
$154B
$94.9M 0.44%
+1,522,967
New +$91.3M
2019 Q2
0 quarters
BSAC icon
63
Banco Santander Chile
BSAC
$15.2B
$84.1M 0.39%
2,809,640
+52,055
+2% +$1.51M
2013 Q2
24 quarters
JD icon
64
JD.com
JD
$36.6B
$75M 0.34%
2,477,424
+68,074
+3% +$1.96M
2015 Q4
14 quarters
SSL icon
65
Sasol
SSL
$9.69B
$64.4M 0.3%
2,591,015
-167,390
-6% -$4.88M
2013 Q2
24 quarters
WB icon
66
Weibo
WB
$1.61B
$64.2M 0.29%
1,473,191
+45,376
+3% +$2.54M
2016 Q4
10 quarters
INDA icon
67
iShares MSCI India ETF
INDA
$5.73B
$34.3M 0.16%
+972,497
New +$34.2M
2019 Q2
0 quarters
EC icon
68
Ecopetrol
EC
$34.8B
$16.6M 0.08%
908,892
+144,483
+19% +$2.7M
2013 Q2
24 quarters
BMA icon
69
Banco Macro
BMA
$4.15B
$8.73M 0.04%
119,839
-38,437
-24% -$1.99M
2016 Q2
12 quarters
GGAL icon
70
Galicia Financial Group
GGAL
$5.91B
$6.96M 0.03%
195,989
-48,842
-20% -$1.31M
2016 Q3
11 quarters
CLB icon
71
Core Laboratories
CLB
$463M
$4.55M 0.02%
87,070
+44,088
+103% +$2.59M
2018 Q2
4 quarters
UNH icon
72
UnitedHealth
UNH
$340B
$3.81M 0.02%
15,621
+631
+4% +$152K
2019 Q1
1 quarter
LOMA icon
73
Loma Negra
LOMA
$1.18B
$3.27M 0.02%
279,268
-98,118
-26% -$1.03M
2018 Q2
4 quarters
EFG icon
74
iShares MSCI EAFE Growth ETF
EFG
$15.1B
$2.59M 0.01%
+32,081
New +$2.53M
2019 Q2
0 quarters
VEU icon
75
Vanguard FTSE All-World ex-US ETF
VEU
$68.3B
$2.55M 0.01%
49,996
+45,686
+1,060% +$2.31M
2017 Q3
7 quarters
1 2
3
4 5

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VAS
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DPIM
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CA
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SCM
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FCM
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URS
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AAM
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Harding Loevner's Q2 2019 Portfolio in Review

As of Q2 2019, Harding Loevner held 142 positions worth $21.8B, up 2.3% from $21.3B the previous quarter. Its ten largest holdings account for 37% of the portfolio.

Harding Loevner's Q2 2019 filing shows 10 new, 31 increased, 51 reduced and 7 closed positions. Its largest new stake was Autohome: 1,725,458 shares worth $148M. The largest sale was WABCO HOLDINGS INC., an estimated $227M.

By sector, the portfolio is most concentrated in Financials at 23% of assets, up from 22% a quarter earlier, followed by Technology and Communication Services.

  • Harding Loevner's largest Q2 2019 buy was Autohome: 1,725,458 shares worth $148M.
  • Harding Loevner added most to SLB Ltd in Q2 2019, an estimated $193M increase.
  • Harding Loevner's biggest Q2 2019 reduction was EPAM Systems, cutting an estimated $97M.
  • Harding Loevner fully exited WABCO HOLDINGS INC. in Q2 2019, selling an estimated $227M.
  • Harding Loevner's ten largest holdings make up 37% of its $21.8B portfolio in Q2 2019.
  • Harding Loevner opened 10 new positions and closed 7 in Q2 2019.
  • Harding Loevner's portfolio value rose 2.3% quarter-over-quarter to $21.8B.

Based on Harding Loevner's 13F filing for Q2 2019, filed 14 Aug 2019.