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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
-3.58%
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
$21.2B
AUM Growth
-$564M
Cap. Flow
+$367M
Cap. Flow %
1.73%
Top 10 Hldgs %
37.26%
Holding
143
New
8
Increased
46
Reduced
42
Closed
9

Top Buys

Rank Stock Value
1
VRTX icon
Vertex Pharmaceuticals
VRTX
+$280M
2
TCOM icon
Trip.com Group
TCOM
+$188M
3
BIDU icon
Baidu
BIDU
+$103M
4
ABEV icon
Ambev
ABEV
+$59M
5
SIVB
SVB Financial Group
SIVB
+$42.8M

Top Sells

Rank Stock Value
1
GRFS
Grifois
GRFS
+$179M
2
ROP icon
Roper Technologies
ROP
+$102M
3
VRSK icon
Verisk Analytics
VRSK
+$79.2M
4
TSM icon
TSMC
TSM
+$31.6M
5
SAP icon
SAP
SAP
+$9.28M

Sector Composition

Rank Sector Weight
1 Technology 22.8%
2 Financials 21.83%
3 Communication Services 13.37%
4 Consumer Discretionary 11.53%
5 Consumer Staples 8.48%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ILMN icon
51
Illumina
ILMN
$33B
$147M 0.7%
498,359
+1,665
+0.3% +$491K
ATHM icon
52
Autohome
ATHM
$2.54B
$143M 0.67%
1,718,563
-6,895
-0.4% -$591K
NTES icon
53
NetEase
NTES
$76.4B
$139M 0.66%
2,611,765
+8,125
+0.3% +$413K
WBA
54
DELISTED
Walgreens Boots Alliance
WBA
$136M 0.64%
2,458,551
+11,188
+0.5% +$600K
IPGP icon
55
IPG Photonics
IPGP
$3.32B
$132M 0.62%
974,943
+3,492
+0.4% +$462K
CTSH icon
56
Cognizant
CTSH
$28.1B
$131M 0.62%
2,172,141
+8,503
+0.4% +$537K
RDS.B
57
DELISTED
Royal Dutch Shell PLC ADS Class B
RDS.B
$129M 0.61%
2,147,332
-76,712
-3% -$4.58M
CGNX icon
58
Cognex
CGNX
$10.5B
$122M 0.57%
2,478,588
+6,593
+0.3% +$297K
MMM icon
59
3M
MMM
$86.9B
$106M 0.5%
771,794
+3,241
+0.4% +$453K
CBD
60
DELISTED
Companhia Brasileira de Distribuicao
CBD
$90.6M 0.43%
4,712,095
+13,519
+0.3% +$302K
HSBC icon
61
HSBC
HSBC
$367B
$83.9M 0.4%
2,193,410
-152,653
-7% -$5.92M
BSAC icon
62
Banco Santander Chile
BSAC
$16.8B
$78M 0.37%
2,784,891
-24,749
-0.9% -$714K
RIO icon
63
Rio Tinto
RIO
$168B
$73.6M 0.35%
1,412,590
-110,377
-7% -$5.99M
JD icon
64
JD.com
JD
$38.2B
$69M 0.33%
2,445,310
-32,114
-1% -$970K
WB icon
65
Weibo
WB
$1.65B
$65.6M 0.31%
1,466,266
-6,925
-0.5% -$293K
SSL icon
66
Sasol
SSL
$7.87B
$43M 0.2%
2,527,250
-63,765
-2% -$1.3M
VEU icon
67
Vanguard FTSE All-World ex-US ETF
VEU
$71.3B
$42.9M 0.2%
858,715
+808,719
+1,618% +$40.3M
INDA icon
68
iShares MSCI India ETF
INDA
$6.77B
$37.5M 0.18%
1,116,350
+143,853
+15% +$4.75M
EC icon
69
Ecopetrol
EC
$35.5B
$13.2M 0.06%
775,786
-133,106
-15% -$2.31M
CLB icon
70
Core Laboratories
CLB
$575M
$7.36M 0.03%
157,819
+70,749
+81% +$3.29M
UNH icon
71
UnitedHealth
UNH
$356B
$3.41M 0.02%
15,689
+68
+0.4% +$16.4K
ACWI icon
72
iShares MSCI ACWI ETF
ACWI
$33.5B
$1.61M 0.01%
+21,824
New +$1.6M
ST icon
73
Sensata Technologies
ST
$6.27B
$937K ﹤0.01%
18,714
+2,026
+12% +$95.8K
UGP icon
74
Ultrapar
UGP
$7.76B
$542K ﹤0.01%
121,225
+20,345
+20% +$95.8K
ALL icon
75
Allstate
ALL
$65.6B
$332K ﹤0.01%
3,058
– –
1 2
3
4 5

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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 Q3 2019 Portfolio in Review

As of Q3 2019, Harding Loevner held 143 positions worth $21.2B, down 2.6% from $21.8B the previous quarter. Its ten largest holdings account for 37% of the portfolio.

Harding Loevner's Q3 2019 filing shows 8 new, 46 increased, 42 reduced and 9 closed positions. Its largest new stake was iShares MSCI ACWI ETF: 21,824 shares worth $1.61M. The largest sale was Grifois, an estimated $179M.

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

  • Harding Loevner's largest Q3 2019 buy was iShares MSCI ACWI ETF: 21,824 shares worth $1.61M.
  • Harding Loevner added most to Vertex Pharmaceuticals in Q3 2019, an estimated $280M increase.
  • Harding Loevner's biggest Q3 2019 reduction was Grifois, cutting an estimated $179M.
  • Harding Loevner fully exited Banco Macro in Q3 2019, selling an estimated $8.73M.
  • Harding Loevner's ten largest holdings make up 37% of its $21.2B portfolio in Q3 2019.
  • Harding Loevner opened 8 new positions and closed 9 in Q3 2019.
  • Harding Loevner's portfolio value fell 2.6% quarter-over-quarter to $21.2B.

Based on Harding Loevner's 13F filing for Q3 2019, filed 14 Nov 2019.