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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
+1.51%
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
$21.8B
AUM Growth
+$490M
Cap. Flow
+$439M
Cap. Flow %
2.02%
Top 10 Hldgs %
37.41%
Holding
142
New
10
Increased
31
Reduced
51
Closed
7
Avg Time Held
11.6 quarters
Top 10 Avg Time Held
7.3 quarters
Top 20 Avg Time Held
11 quarters

Top Buys

Rank Stock Value
1
SLB icon
SLB Ltd
SLB
+$193M
2
META icon
Meta Platforms (Facebook)
META
+$183M
3
ATHM icon
Autohome
ATHM
+$172M
4
NTES icon
NetEase
NTES
+$138M
5
RIO icon
Rio Tinto
RIO
+$91.3M

Top Sells

Rank Stock Value
1
WBC
WABCO HOLDINGS INC.
WBC
+$227M
2
EPAM icon
EPAM Systems
EPAM
+$97M
3
TV icon
Televisa
TV
+$85.5M
4
TCOM icon
Trip.com Group
TCOM
+$44.5M
5
JOBS
51job Inc
JOBS
+$34.8M

Sector Composition

Rank Sector Weight
1 Financials 22.91%
2 Technology 22.84%
3 Communication Services 13.14%
4 Consumer Discretionary 10.38%
5 Consumer Staples 8.36%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
TEO icon
76
Telecom Argentina
TEO
$5.33B
$2.15M 0.01%
121,765
-144,063
-54% -$2.2M
2018 Q1
5 quarters
ST icon
77
Sensata Technologies
ST
$6.15B
$818K ﹤0.01%
16,688
+3,254
+24% +$155K
2018 Q1
5 quarters
UGP icon
78
Ultrapar
UGP
$8.42B
$529K ﹤0.01%
100,880
-290,212
-74% -$1.57M
2017 Q2
8 quarters
ALL icon
79
Allstate
ALL
$58B
$311K ﹤0.01%
3,058
– –
2014 Q1
21 quarters
KOF icon
80
Coca-Cola Femsa
KOF
$23.1B
$287K ﹤0.01%
4,626
-545
-11% -$34.9K
2015 Q3
15 quarters
ELV icon
81
Elevance Health
ELV
$89.5B
$226K ﹤0.01%
800
– –
2017 Q2
8 quarters
PG icon
82
Procter & Gamble
PG
$351B
$154K ﹤0.01%
1,406
-163
-10% -$17.4K
2017 Q2
8 quarters
EDU icon
83
New Oriental
EDU
$9.09B
$134K ﹤0.01%
1,389
-103
-7% -$9.22K
2017 Q4
6 quarters
ASML icon
84
ASML
ASML
$684B
$121K ﹤0.01%
582
– –
2017 Q2
8 quarters
ITW icon
85
Illinois Tool Works
ITW
$75.2B
$121K ﹤0.01%
800
– –
2017 Q2
8 quarters
JNJ icon
86
Johnson & Johnson
JNJ
$630B
$111K ﹤0.01%
800
– –
2017 Q2
8 quarters
IT icon
87
Gartner
IT
$12.1B
$83K ﹤0.01%
513
– –
2017 Q2
8 quarters
RMD icon
88
ResMed
RMD
$32.4B
$82K ﹤0.01%
672
– –
2019 Q1
1 quarter
MCD icon
89
McDonald's
MCD
$166B
$81K ﹤0.01%
390
– –
2017 Q2
8 quarters
SBNY
90
DELISTED
Signature Bank
SBNY
$81K ﹤0.01%
671
– –
2016 Q1
13 quarters
ECL icon
91
Ecolab
ECL
$79B
$79K ﹤0.01%
400
– –
2017 Q2
8 quarters
SNPS icon
92
Synopsys
SNPS
$97.7B
$78K ﹤0.01%
605
– –
2018 Q4
2 quarters
BSMX
93
DELISTED
Banco Santander México, S, A., Institución de Banca Múltiple, Grupo Financiero Santander México
BSMX
$78K ﹤0.01%
10,152
– –
2017 Q2
8 quarters
ELAN icon
94
Elanco Animal Health
ELAN
$11.5B
$74K ﹤0.01%
+2,191
New +$71.1K
2019 Q2
0 quarters
MRK icon
95
Merck
MRK
$359B
$74K ﹤0.01%
922
– –
2018 Q4
2 quarters
APD icon
96
Air Products & Chemicals
APD
$62.6B
$72K ﹤0.01%
320
– –
2017 Q2
8 quarters
FISV
97
Fiserv Inc
FISV
$24.3B
$72K ﹤0.01%
+790
New +$69.2K
2019 Q2
0 quarters
JPM icon
98
JPMorgan Chase
JPM
$885B
$72K ﹤0.01%
641
+346
+117% +$38.1K
2017 Q2
8 quarters
ADP icon
99
Automatic Data Processing
ADP
$107B
$69K ﹤0.01%
418
– –
2017 Q4
6 quarters
AVY icon
100
Avery Dennison
AVY
$12.7B
$69K ﹤0.01%
600
– –
2017 Q2
8 quarters
2 3
4
5 6

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DPIM
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Harding Loevner's Q2 2019 Portfolio in Review

As of Q2 2019, Harding Loevner held 142 positions worth $21.8B, up 2.3% from $21.3B the previous quarter. Its ten largest holdings account for 37% of the portfolio.

Harding Loevner's Q2 2019 filing shows 10 new, 31 increased, 51 reduced and 7 closed positions. Its largest new stake was Autohome: 1,725,458 shares worth $148M. The largest sale was WABCO HOLDINGS INC., an estimated $227M.

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

  • Harding Loevner's largest Q2 2019 buy was Autohome: 1,725,458 shares worth $148M.
  • Harding Loevner added most to SLB Ltd in Q2 2019, an estimated $193M increase.
  • Harding Loevner's biggest Q2 2019 reduction was EPAM Systems, cutting an estimated $97M.
  • Harding Loevner fully exited WABCO HOLDINGS INC. in Q2 2019, selling an estimated $227M.
  • Harding Loevner's ten largest holdings make up 37% of its $21.8B portfolio in Q2 2019.
  • Harding Loevner opened 10 new positions and closed 7 in Q2 2019.
  • Harding Loevner's portfolio value rose 2.3% quarter-over-quarter to $21.8B.

Based on Harding Loevner's 13F filing for Q2 2019, filed 14 Aug 2019.