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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
+16.71%
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
$21.3B
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
Avg Time Held
11.4 quarters
Top 10 Avg Time Held
9.2 quarters
Top 20 Avg Time Held
10 quarters

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 21.86%
3 Communication Services 13.02%
4 Consumer Discretionary 11.75%
5 Consumer Staples 7.79%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
ELV icon
76
Elevance Health
ELV
$89.5B
$230K ﹤0.01%
800
– –
2017 Q2
7 quarters
VEU icon
77
Vanguard FTSE All-World ex-US ETF
VEU
$68.3B
$216K ﹤0.01%
4,310
-2,077,665
-100% -$102M
2017 Q3
6 quarters
META icon
78
Meta Platforms (Facebook)
META
$1.83T
$176K ﹤0.01%
1,058
+788
+292% +$125K
2015 Q1
16 quarters
PG icon
79
Procter & Gamble
PG
$351B
$163K ﹤0.01%
1,569
– –
2017 Q2
7 quarters
EDU icon
80
New Oriental
EDU
$9.09B
$134K ﹤0.01%
1,492
-422
-22% -$31.8K
2017 Q4
5 quarters
ITW icon
81
Illinois Tool Works
ITW
$75.2B
$115K ﹤0.01%
800
– –
2017 Q2
7 quarters
JNJ icon
82
Johnson & Johnson
JNJ
$630B
$112K ﹤0.01%
800
– –
2017 Q2
7 quarters
ASML icon
83
ASML
ASML
$684B
$109K ﹤0.01%
582
+42
+8% +$7.43K
2017 Q2
7 quarters
SBNY
84
DELISTED
Signature Bank
SBNY
$86K ﹤0.01%
671
+98
+17% +$12.5K
2016 Q1
12 quarters
IT icon
85
Gartner
IT
$12.1B
$78K ﹤0.01%
513
– –
2017 Q2
7 quarters
NTES icon
86
NetEase
NTES
$79.6B
$75K ﹤0.01%
+1,555
New +$73.9K
2019 Q1
0 quarters
MCD icon
87
McDonald's
MCD
$166B
$74K ﹤0.01%
390
– –
2017 Q2
7 quarters
MRK icon
88
Merck
MRK
$359B
$73K ﹤0.01%
922
– –
2018 Q4
1 quarter
ECL icon
89
Ecolab
ECL
$79B
$71K ﹤0.01%
400
– –
2017 Q2
7 quarters
RMD icon
90
ResMed
RMD
$32.4B
$70K ﹤0.01%
+672
New +$69.4K
2019 Q1
0 quarters
SNPS icon
91
Synopsys
SNPS
$97.7B
$70K ﹤0.01%
605
-30
-5% -$2.97K
2018 Q4
1 quarter
BSMX
92
DELISTED
Banco Santander México, S, A., Institución de Banca Múltiple, Grupo Financiero Santander México
BSMX
$69K ﹤0.01%
10,152
– –
2017 Q2
7 quarters
AVY icon
93
Avery Dennison
AVY
$12.7B
$68K ﹤0.01%
600
– –
2017 Q2
7 quarters
ADP icon
94
Automatic Data Processing
ADP
$107B
$67K ﹤0.01%
418
– –
2017 Q4
5 quarters
APH icon
95
Amphenol
APH
$215B
$66K ﹤0.01%
5,600
– –
2017 Q2
7 quarters
TIF
96
DELISTED
Tiffany & Co.
TIF
$64K ﹤0.01%
608
– –
2018 Q4
1 quarter
RGA icon
97
Reinsurance Group of America
RGA
$16.7B
$62K ﹤0.01%
437
– –
2017 Q2
7 quarters
APD icon
98
Air Products & Chemicals
APD
$62.6B
$61K ﹤0.01%
320
– –
2017 Q2
7 quarters
OVV icon
99
Ovintiv
OVV
$17.7B
$52K ﹤0.01%
1,448
+314
+28% +$10.8K
2017 Q2
7 quarters
LULU icon
100
lululemon athletica
LULU
$10.9B
$48K ﹤0.01%
290
– –
2017 Q2
7 quarters
2 3
4
5 6

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VAS
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DPIM
Duff & Phelps Investment Management Chicago, Illinois $10.6B AUM 18.62% 1-Year Est. Return
CA
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SCM
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FCM
Frontier Capital Management Boston, Massachusetts $10.7B AUM 67.78% 1-Year Est. Return
URS
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AAM
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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 Communication Services.

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.