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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
+16.71%
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
$21.3B
AUM Growth
+$4B
Cap. Flow
+$1.22B
Cap. Flow %
5.74%
Top 10 Hldgs %
37.61%
Holding
143
New
4
Increased
59
Reduced
27
Closed
11

Top Buys

Rank Stock Value
1
CHL
China Mobile Limited
CHL
+$520M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$426M
3
ABEV icon
Ambev
ABEV
+$207M
4
DEO icon
Diageo
DEO
+$162M
5
ILMN icon
Illumina
ILMN
+$144M

Top Sells

Rank Stock Value
1
TS icon
Tenaris
TS
+$263M
2
ITUB icon
Itaú Unibanco
ITUB
+$151M
3
RDS.B
Royal Dutch Shell PLC ADS Class B
RDS.B
+$143M
4
COR icon
Cencora
COR
+$140M
5
NVDA icon
NVIDIA
NVDA
+$129M

Sector Composition

Rank Sector Weight
1 Technology 23.38%
2 Financials 19.84%
3 Consumer Discretionary 11.75%
4 Communication Services 10.6%
5 Industrials 7.41%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ELV icon
76
Elevance Health
ELV
$85.5B
$230K ﹤0.01%
800
– –
VEU icon
77
Vanguard FTSE All-World ex-US ETF
VEU
$68.5B
$216K ﹤0.01%
4,310
-2,077,665
-100% -$102M
META icon
78
Meta Platforms (Facebook)
META
$1.51T
$176K ﹤0.01%
1,058
+788
+292% +$125K
PG icon
79
Procter & Gamble
PG
$339B
$163K ﹤0.01%
1,569
– –
EDU icon
80
New Oriental
EDU
$8.98B
$134K ﹤0.01%
1,492
-422
-22% -$31.8K
ITW icon
81
Illinois Tool Works
ITW
$84.5B
$115K ﹤0.01%
800
– –
JNJ icon
82
Johnson & Johnson
JNJ
$625B
$112K ﹤0.01%
800
– –
ASML icon
83
ASML
ASML
$669B
$109K ﹤0.01%
582
+42
+8% +$7.43K
SBNY
84
DELISTED
Signature Bank
SBNY
$86K ﹤0.01%
671
+98
+17% +$12.5K
IT icon
85
Gartner
IT
$11.7B
$78K ﹤0.01%
513
– –
NTES icon
86
NetEase
NTES
$84.7B
$75K ﹤0.01%
+1,555
New +$73.9K
MCD icon
87
McDonald's
MCD
$195B
$74K ﹤0.01%
390
– –
MRK icon
88
Merck
MRK
$318B
$73K ﹤0.01%
922
– –
ECL icon
89
Ecolab
ECL
$79.9B
$71K ﹤0.01%
400
– –
RMD icon
90
ResMed
RMD
$30.7B
$70K ﹤0.01%
+672
New +$69.4K
SNPS icon
91
Synopsys
SNPS
$79.7B
$70K ﹤0.01%
605
-30
-5% -$2.97K
BSMX
92
DELISTED
Banco Santander México, S, A., Institución de Banca Múltiple, Grupo Financiero Santander México
BSMX
$69K ﹤0.01%
10,152
– –
AVY icon
93
Avery Dennison
AVY
$13.4B
$68K ﹤0.01%
600
– –
ADP icon
94
Automatic Data Processing
ADP
$108B
$67K ﹤0.01%
418
– –
APH icon
95
Amphenol
APH
$209B
$66K ﹤0.01%
2,800
– –
TIF
96
DELISTED
Tiffany & Co.
TIF
$64K ﹤0.01%
608
– –
RGA icon
97
Reinsurance Group of America
RGA
$16.1B
$62K ﹤0.01%
437
– –
APD icon
98
Air Products & Chemicals
APD
$67.6B
$61K ﹤0.01%
320
– –
OVV icon
99
Ovintiv
OVV
$16.4B
$52K ﹤0.01%
1,448
+314
+28% +$10.8K
LULU icon
100
lululemon athletica
LULU
$14.6B
$48K ﹤0.01%
290
– –
2 3
4
5 6

Similar funds

DCP
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FCM
Frontier Capital Management Boston, Massachusetts $9.73B AUM 55.65% 1-Year Est. Return
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
Mairs & Power Inc St Paul, Minnesota $9.79B AUM 20.6% 1-Year Est. Return
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 2019 Portfolio in Review

As of Q1 2019, Harding Loevner held 143 positions worth $21.3B, up 23% from $17.3B the previous quarter. Its ten largest holdings account for 38% of the portfolio.

Harding Loevner deployed $1.22B of net new capital in Q1 2019, opening 4 new positions and adding to 59 existing holdings. Its largest new stake was Diageo: 1,063,948 shares worth $174M.

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

On the sell side, the largest reduction was Tenaris, an estimated $263M trimmed.

  • Harding Loevner's largest Q1 2019 buy was Diageo: 1,063,948 shares worth $174M.
  • Harding Loevner added most to China Mobile Limited in Q1 2019, an estimated $520M increase.
  • Harding Loevner's biggest Q1 2019 reduction was Tenaris, cutting an estimated $263M.
  • Harding Loevner fully exited iShares MSCI ACWI ex US ETF in Q1 2019, selling an estimated $40.7M.
  • Harding Loevner's ten largest holdings make up 38% of its $21.3B portfolio in Q1 2019.
  • Harding Loevner opened 4 new positions and closed 11 in Q1 2019.
  • Harding Loevner's portfolio value rose 23% quarter-over-quarter to $21.3B.

Based on Harding Loevner's 13F filing for Q1 2019, filed 15 May 2019.