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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
+3.21%
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
+$1.63B
Cap. Flow
+$1.26B
Cap. Flow %
6.53%
Top 10 Hldgs %
39.72%
Holding
157
New
25
Increased
37
Reduced
42
Closed
5

Top Buys

Rank Stock Value
1
TSM icon
TSMC
TSM
+$259M
2
BIDU icon
Baidu
BIDU
+$176M
3
RDS.B
Royal Dutch Shell PLC ADS Class B
RDS.B
+$171M
4
FRC
First Republic Bank
FRC
+$149M
5
SLB icon
SLB Ltd
SLB
+$102M

Top Sells

Rank Stock Value
1
NKE icon
Nike
NKE
+$156M
2
SIVB
SVB Financial Group
SIVB
+$146M
3
VEU icon
Vanguard FTSE All-World ex-US ETF
VEU
+$25M
4
INDA icon
iShares MSCI India ETF
INDA
+$23.5M
5
BKNG icon
Booking.com
BKNG
+$17.3M

Sector Composition

Rank Sector Weight
1 Financials 22.34%
2 Technology 18.75%
3 Communication Services 13.57%
4 Energy 9.81%
5 Consumer Discretionary 9.62%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VEU icon
76
Vanguard FTSE All-World ex-US ETF
VEU
$68.5B
$193K ﹤0.01%
3,550
-448,042
-99% -$25M
ELV icon
77
Elevance Health
ELV
$85.5B
$176K ﹤0.01%
800
– –
INFY icon
78
Infosys
INFY
$50.7B
$172K ﹤0.01%
19,300
– –
UGP icon
79
Ultrapar
UGP
$6.54B
$152K ﹤0.01%
14,080
– –
NVS icon
80
Novartis
NVS
$297B
$141K ﹤0.01%
1,953
– –
ITW icon
81
Illinois Tool Works
ITW
$84.5B
$125K ﹤0.01%
800
– –
AGN
82
DELISTED
Allergan plc
AGN
$121K ﹤0.01%
+720
New +$121K
PG icon
83
Procter & Gamble
PG
$339B
$108K ﹤0.01%
1,360
– –
ASML icon
84
ASML
ASML
$669B
$107K ﹤0.01%
540
– –
JNJ icon
85
Johnson & Johnson
JNJ
$625B
$103K ﹤0.01%
800
– –
MCD icon
86
McDonald's
MCD
$195B
$71K ﹤0.01%
456
+66
+17% +$10.9K
EDU icon
87
New Oriental
EDU
$8.98B
$68K ﹤0.01%
780
– –
COST icon
88
Costco
COST
$420B
$67K ﹤0.01%
355
– –
TJX icon
89
TJX Companies
TJX
$178B
$67K ﹤0.01%
1,640
– –
BSMX
90
DELISTED
Banco Santander México, S, A., Institución de Banca Múltiple, Grupo Financiero Santander México
BSMX
$67K ﹤0.01%
9,328
+1,348
+17% +$9.96K
AVY icon
91
Avery Dennison
AVY
$13.4B
$64K ﹤0.01%
600
– –
FISV
92
Fiserv Inc
FISV
$27.9B
$64K ﹤0.01%
900
– –
AVGO icon
93
Broadcom
AVGO
$2.04T
$63K ﹤0.01%
+2,670
New +$67.2K
AME icon
94
Ametek
AME
$58.2B
$62K ﹤0.01%
820
-100
-11% -$7.59K
OVV icon
95
Ovintiv
OVV
$16.4B
$62K ﹤0.01%
1,134
– –
TROW icon
96
T. Rowe Price
TROW
$24.3B
$62K ﹤0.01%
570
-60
-10% -$6.68K
ADP icon
97
Automatic Data Processing
ADP
$108B
$61K ﹤0.01%
540
– –
EFX icon
98
Equifax
EFX
$21.4B
$61K ﹤0.01%
520
+370
+247% +$44.4K
APH icon
99
Amphenol
APH
$209B
$60K ﹤0.01%
2,800
– –
RGA icon
100
Reinsurance Group of America
RGA
$16.1B
$59K ﹤0.01%
380
– –
2 3
4
5 6

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FCM
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CCM
Cullen Capital Management New York $9.75B AUM 21.81% 1-Year Est. Return
URS
Utah Retirement Systems Salt Lake City, Utah $9.78B AUM 28.72% 1-Year Est. Return
MPI
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TIM
Thornburg Investment Management Santa Fe, New Mexico $9.63B AUM 35.65% 1-Year Est. Return
SC
Sculptor Capital New York $9.61B AUM 27.5% 1-Year Est. Return
TCA
Tortoise Capital Advisors Overland Park, Kansas $9.6B AUM 19.53% 1-Year Est. Return

Harding Loevner's Q1 2018 Portfolio in Review

As of Q1 2018, Harding Loevner held 157 positions worth $19.2B, up 9.3% from $17.6B the previous quarter. Its ten largest holdings account for 40% of the portfolio.

Harding Loevner deployed $1.26B of net new capital in Q1 2018, opening 25 new positions and adding to 37 existing holdings. Its largest new stake was Telecom Argentina: 329,750 shares worth $10.3M.

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

On the sell side, the largest reduction was Nike, an estimated $156M trimmed.

  • Harding Loevner's largest Q1 2018 buy was Telecom Argentina: 329,750 shares worth $10.3M.
  • Harding Loevner added most to TSMC in Q1 2018, an estimated $259M increase.
  • Harding Loevner's biggest Q1 2018 reduction was Nike, cutting an estimated $156M.
  • Harding Loevner fully exited iShares MSCI India ETF in Q1 2018, selling an estimated $23.5M.
  • Harding Loevner's ten largest holdings make up 40% of its $19.2B portfolio in Q1 2018.
  • Harding Loevner opened 25 new positions and closed 5 in Q1 2018.
  • Harding Loevner's portfolio value rose 9.3% quarter-over-quarter to $19.2B.

Based on Harding Loevner's 13F filing for Q1 2018, filed 14 May 2018.