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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
NVS icon
76
Novartis
NVS
$291B
$151K ﹤0.01%
1,953
– –
PG icon
77
Procter & Gamble
PG
$353B
$131K ﹤0.01%
1,569
+209
+15% +$17.1K
ITW icon
78
Illinois Tool Works
ITW
$81.4B
$113K ﹤0.01%
800
– –
JNJ icon
79
Johnson & Johnson
JNJ
$602B
$111K ﹤0.01%
800
– –
ASML icon
80
ASML
ASML
$686B
$102K ﹤0.01%
540
– –
EFG icon
81
iShares MSCI EAFE Growth ETF
EFG
$16.5B
$98K ﹤0.01%
+1,226
New +$97.7K
KOF icon
82
Coca-Cola Femsa
KOF
$21.4B
$93K ﹤0.01%
1,520
– –
ADP icon
83
Automatic Data Processing
ADP
$103B
$81K ﹤0.01%
540
– –
IQV icon
84
IQVIA
IQV
$35.1B
$75K ﹤0.01%
580
– –
FISV
85
Fiserv Inc
FISV
$27.6B
$74K ﹤0.01%
900
– –
OVV icon
86
Ovintiv
OVV
$15.9B
$74K ﹤0.01%
1,134
– –
BSMX
87
DELISTED
Banco Santander México, S, A., Institución de Banca Múltiple, Grupo Financiero Santander México
BSMX
$74K ﹤0.01%
9,495
+1,515
+19% +$11.9K
IT icon
88
Gartner
IT
$9.57B
$71K ﹤0.01%
450
– –
CVS icon
89
CVS Health
CVS
$136B
$68K ﹤0.01%
+870
New +$62.2K
APH icon
90
Amphenol
APH
$188B
$66K ﹤0.01%
2,800
– –
DHR icon
91
Danaher
DHR
$145B
$66K ﹤0.01%
682
+530
+349% +$48.3K
TSCO icon
92
Tractor Supply
TSCO
$16.3B
$66K ﹤0.01%
3,645
-1,005
-22% -$16.7K
AME icon
93
Ametek
AME
$54.4B
$65K ﹤0.01%
820
– –
AVY icon
94
Avery Dennison
AVY
$12.5B
$65K ﹤0.01%
600
– –
MCD icon
95
McDonald's
MCD
$194B
$65K ﹤0.01%
390
– –
CHD icon
96
Church & Dwight Co
CHD
$23.5B
$64K ﹤0.01%
1,080
– –
ECL icon
97
Ecolab
ECL
$77.6B
$63K ﹤0.01%
400
– –
EDU icon
98
New Oriental
EDU
$7.87B
$63K ﹤0.01%
845
– –
RGA icon
99
Reinsurance Group of America
RGA
$15.7B
$55K ﹤0.01%
380
– –
GOOGL icon
100
Alphabet (Google) Class A
GOOGL
$4.33T
$54K ﹤0.01%
900
– –
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
CIM
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URS
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MPI
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TIM
Thornburg Investment Management Santa Fe, New Mexico $9.63B AUM 35.65% 1-Year Est. Return
DPIM
Duff & Phelps Investment Management Chicago, Illinois $9.63B AUM 11.3% 1-Year Est. Return

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.