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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
-3.58%
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
$21.2B
AUM Growth
-$564M
Cap. Flow
+$367M
Cap. Flow %
1.73%
Top 10 Hldgs %
37.26%
Holding
143
New
8
Increased
46
Reduced
42
Closed
9

Top Buys

Rank Stock Value
1
VRTX icon
Vertex Pharmaceuticals
VRTX
+$280M
2
TCOM icon
Trip.com Group
TCOM
+$188M
3
BIDU icon
Baidu
BIDU
+$103M
4
ABEV icon
Ambev
ABEV
+$59M
5
SIVB
SVB Financial Group
SIVB
+$42.8M

Top Sells

Rank Stock Value
1
GRFS
Grifois
GRFS
+$179M
2
ROP icon
Roper Technologies
ROP
+$102M
3
VRSK icon
Verisk Analytics
VRSK
+$79.2M
4
TSM icon
TSMC
TSM
+$31.6M
5
SAP icon
SAP
SAP
+$9.28M

Sector Composition

Rank Sector Weight
1 Technology 22.8%
2 Financials 21.83%
3 Communication Services 13.37%
4 Consumer Discretionary 11.53%
5 Consumer Staples 8.48%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KOF icon
76
Coca-Cola Femsa
KOF
$23.5B
$306K ﹤0.01%
5,041
+415
+9% +$25.2K
VEA icon
77
Vanguard FTSE Developed Markets ETF
VEA
$241B
$292K ﹤0.01%
7,108
+6,716
+1,713% +$274K
ELV icon
78
Elevance Health
ELV
$88.4B
$192K ﹤0.01%
800
– –
PG icon
79
Procter & Gamble
PG
$340B
$175K ﹤0.01%
1,406
– –
ASML icon
80
ASML
ASML
$659B
$145K ﹤0.01%
582
– –
ITW icon
81
Illinois Tool Works
ITW
$76.9B
$125K ﹤0.01%
800
– –
EDU icon
82
New Oriental
EDU
$9.47B
$122K ﹤0.01%
1,103
-286
-21% -$29.9K
JNJ icon
83
Johnson & Johnson
JNJ
$663B
$104K ﹤0.01%
800
– –
SNPS icon
84
Synopsys
SNPS
$75.5B
$83K ﹤0.01%
605
– –
SBNY
85
DELISTED
Signature Bank
SBNY
$80K ﹤0.01%
671
– –
ECL icon
86
Ecolab
ECL
$78.3B
$79K ﹤0.01%
400
– –
JPM icon
87
JPMorgan Chase
JPM
$953B
$75K ﹤0.01%
641
– –
MRK icon
88
Merck
MRK
$371B
$74K ﹤0.01%
922
– –
APD icon
89
Air Products & Chemicals
APD
$67.1B
$71K ﹤0.01%
320
– –
RMD icon
90
ResMed
RMD
$32.9B
$69K ﹤0.01%
510
-162
-24% -$21.2K
APH icon
91
Amphenol
APH
$204B
$68K ﹤0.01%
5,600
– –
AVY icon
92
Avery Dennison
AVY
$13.3B
$68K ﹤0.01%
600
– –
ADP icon
93
Automatic Data Processing
ADP
$110B
$67K ﹤0.01%
418
– –
MCD icon
94
McDonald's
MCD
$181B
$67K ﹤0.01%
313
-77
-20% -$16.5K
RGA icon
95
Reinsurance Group of America
RGA
$16.5B
$66K ﹤0.01%
415
-22
-5% -$3.41K
FISV
96
Fiserv Inc
FISV
$28.2B
$65K ﹤0.01%
626
-164
-21% -$16.7K
TIF
97
DELISTED
Tiffany & Co.
TIF
$56K ﹤0.01%
608
– –
OVV icon
98
Ovintiv
OVV
$17.9B
$49K ﹤0.01%
2,142
+694
+48% +$15.9K
DHR icon
99
Danaher
DHR
$146B
$47K ﹤0.01%
369
– –
ZTS icon
100
Zoetis
ZTS
$31.3B
$47K ﹤0.01%
380
– –
2 3
4
5 6

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FMI
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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
Clearstead Advisors Cleveland, Ohio $10.6B AUM 24.87% 1-Year Est. Return
SCM
SCS Capital Management Boston, Massachusetts $10.6B AUM 19.73% 1-Year Est. Return
FCM
Frontier Capital Management Boston, Massachusetts $10.7B AUM 67.78% 1-Year Est. Return
URS
Utah Retirement Systems Salt Lake City, Utah $10.5B AUM 42.22% 1-Year Est. Return
AAM
Alphadyne Asset Management New York $10.5B AUM 37.62% 1-Year Est. Return

Harding Loevner's Q3 2019 Portfolio in Review

As of Q3 2019, Harding Loevner held 143 positions worth $21.2B, down 2.6% from $21.8B the previous quarter. Its ten largest holdings account for 37% of the portfolio.

Harding Loevner's Q3 2019 filing shows 8 new, 46 increased, 42 reduced and 9 closed positions. Its largest new stake was iShares MSCI ACWI ETF: 21,824 shares worth $1.61M. The largest sale was Grifois, an estimated $179M.

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

  • Harding Loevner's largest Q3 2019 buy was iShares MSCI ACWI ETF: 21,824 shares worth $1.61M.
  • Harding Loevner added most to Vertex Pharmaceuticals in Q3 2019, an estimated $280M increase.
  • Harding Loevner's biggest Q3 2019 reduction was Grifois, cutting an estimated $179M.
  • Harding Loevner fully exited Banco Macro in Q3 2019, selling an estimated $8.73M.
  • Harding Loevner's ten largest holdings make up 37% of its $21.2B portfolio in Q3 2019.
  • Harding Loevner opened 8 new positions and closed 9 in Q3 2019.
  • Harding Loevner's portfolio value fell 2.6% quarter-over-quarter to $21.2B.

Based on Harding Loevner's 13F filing for Q3 2019, filed 14 Nov 2019.