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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
-21.3%
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
$17.9B
AUM Growth
-$4.56B
Cap. Flow
+$1.2B
Cap. Flow %
6.71%
Top 10 Hldgs %
38.44%
Holding
153
New
13
Increased
41
Reduced
57
Closed
6
Avg Time Held
12.6 quarters
Top 10 Avg Time Held
7.1 quarters
Top 20 Avg Time Held
11.1 quarters

Top Buys

Rank Stock Value
1
ABEV icon
Ambev
ABEV
+$220M
2
ILMN icon
Illumina
ILMN
+$210M
3
HDB icon
HDFC Bank
HDB
+$188M
4
META icon
Meta Platforms (Facebook)
META
+$183M
5
DE icon
Deere & Co
DE
+$176M

Top Sells

Rank Stock Value
1
CHKP icon
Check Point Software Technologies
CHKP
+$272M
2
REGN icon
Regeneron Pharmaceuticals
REGN
+$244M
3
SLB icon
SLB Ltd
SLB
+$200M
4
HSBC icon
HSBC
HSBC
+$165M
5
CL icon
Colgate-Palmolive
CL
+$124M

Sector Composition

Rank Sector Weight
1 Technology 24.83%
2 Financials 18.24%
3 Communication Services 17.12%
4 Consumer Discretionary 10.17%
5 Industrials 8.69%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
WDAY icon
51
Workday
WDAY
$45B
$115M 0.64%
880,275
-8,305
-0.9% -$1.4M
2017 Q2
11 quarters
SIVB
52
DELISTED
SVB Financial Group
SIVB
$113M 0.63%
747,753
-2,149
-0.3% -$473K
2013 Q2
27 quarters
ALGN icon
53
Align Technology
ALGN
$10.1B
$113M 0.63%
+647,904
New +$155M
2020 Q1
0 quarters
EBAY icon
54
eBay
EBAY
$49.9B
$104M 0.58%
3,466,870
-15,158
-0.4% -$528K
2017 Q2
11 quarters
WBA icon
55
DELISTED
Walgreens Boots Alliance
WBA
$99.4M 0.55%
2,172,142
-4,072
-0.2% -$207K
2016 Q4
13 quarters
BBVA icon
56
Banco Bilbao Vizcaya Argentaria
BBVA
$144B
$99.2M 0.55%
32,411,311
+2,168,896
+7% +$10.3M
2013 Q2
27 quarters
CEO
57
DELISTED
CNOOC Limited
CEO
$97.9M 0.55%
946,035
-615,129
-39% -$87.5M
2013 Q2
27 quarters
ZTO icon
58
ZTO Express
ZTO
$15.1B
$90.1M 0.5%
3,401,004
+3,394,780
+54,543% +$82.3M
2019 Q4
1 quarter
CTSH icon
59
Cognizant
CTSH
$26.7B
$88.6M 0.49%
1,907,402
-16,450
-0.9% -$980K
2017 Q2
11 quarters
TS icon
60
Tenaris
TS
$28.9B
$85.5M 0.48%
7,091,599
+121,886
+2% +$2.24M
2013 Q2
27 quarters
MMM icon
61
3M
MMM
$82.5B
$77.2M 0.43%
676,065
-5,527
-0.8% -$727K
2013 Q2
27 quarters
CGNX icon
62
Cognex
CGNX
$10.6B
$68.1M 0.38%
1,613,574
-576,489
-26% -$28.9M
2018 Q2
7 quarters
RDS.B
63
DELISTED
Royal Dutch Shell PLC ADS Class B
RDS.B
$64.6M 0.36%
1,977,673
-75,700
-4% -$3.55M
2016 Q1
16 quarters
RIO icon
64
Rio Tinto
RIO
$154B
$62.5M 0.35%
1,371,105
+30,074
+2% +$1.54M
2019 Q2
3 quarters
ATHM icon
65
Autohome
ATHM
$2.38B
$62.2M 0.35%
875,450
-835,018
-49% -$65.9M
2019 Q2
3 quarters
CBD
66
DELISTED
Companhia Brasileira de Distribuicao
CBD
$60.1M 0.34%
4,766,078
+67,332
+1% +$1.2M
2013 Q4
25 quarters
INDA icon
67
iShares MSCI India ETF
INDA
$5.73B
$57.2M 0.32%
2,371,467
+1,184,698
+100% +$37.9M
2019 Q2
3 quarters
VEU icon
68
Vanguard FTSE All-World ex-US ETF
VEU
$68.3B
$48M 0.27%
1,169,452
-944,655
-45% -$46.5M
2017 Q3
10 quarters
BSAC icon
69
Banco Santander Chile
BSAC
$15.2B
$42.7M 0.24%
2,821,921
+53,297
+2% +$1.02M
2013 Q2
27 quarters
REGN icon
70
Regeneron Pharmaceuticals
REGN
$76.9B
$8.18M 0.05%
16,747
-590,595
-97% -$244M
2016 Q2
15 quarters
VEA icon
71
Vanguard FTSE Developed Markets ETF
VEA
$230B
$6.35M 0.04%
190,398
+161,343
+555% +$6.47M
2019 Q2
3 quarters
EC icon
72
Ecopetrol
EC
$34.8B
$6.3M 0.04%
662,450
-62,053
-9% -$1.03M
2013 Q2
27 quarters
ALC icon
73
Alcon
ALC
$31B
$4.69M 0.03%
92,230
+28,174
+44% +$1.62M
2019 Q4
1 quarter
SSL icon
74
Sasol
SSL
$9.69B
$4.55M 0.03%
2,262,314
-46,792
-2% -$597K
2013 Q2
27 quarters
UNH icon
75
UnitedHealth
UNH
$340B
$3.46M 0.02%
13,884
-2,479
-15% -$682K
2019 Q1
4 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 2020 Portfolio in Review

As of Q1 2020, Harding Loevner held 153 positions worth $17.9B, down 20% from $22.5B the previous quarter. Its ten largest holdings account for 38% of the portfolio.

Harding Loevner deployed $1.2B of net new capital in Q1 2020, opening 13 new positions and adding to 41 existing holdings. Its largest new stake was Estee Lauder: 828,037 shares worth $132M.

By sector, the portfolio is most concentrated in Technology at 25% of assets, up from 23% a quarter earlier, followed by Financials and Communication Services.

On the sell side, the largest reduction was Check Point Software Technologies, an estimated $272M trimmed.

  • Harding Loevner's largest Q1 2020 buy was Estee Lauder: 828,037 shares worth $132M.
  • Harding Loevner added most to Ambev in Q1 2020, an estimated $220M increase.
  • Harding Loevner's biggest Q1 2020 reduction was Check Point Software Technologies, cutting an estimated $272M.
  • Harding Loevner fully exited JD.com in Q1 2020, selling an estimated $86.9M.
  • Harding Loevner's ten largest holdings make up 38% of its $17.9B portfolio in Q1 2020.
  • Harding Loevner opened 13 new positions and closed 6 in Q1 2020.
  • Harding Loevner's portfolio value fell 20% quarter-over-quarter to $17.9B.

Based on Harding Loevner's 13F filing for Q1 2020, filed 15 May 2020.