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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
+12.74%
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
$22.5B
AUM Growth
+$1.28B
Cap. Flow
-$1.15B
Cap. Flow %
-5.12%
Top 10 Hldgs %
39.55%
Holding
141
New
7
Increased
23
Reduced
64
Closed
1

Top Buys

Rank Stock Value
1
BIDU icon
Baidu
BIDU
+$165M
2
CRM icon
Salesforce
CRM
+$150M
3
WDAY icon
Workday
WDAY
+$147M
4
HSBC icon
HSBC
HSBC
+$97.9M
5
CL icon
Colgate-Palmolive
CL
+$72.3M

Top Sells

Rank Stock Value
1
AMZN icon
Amazon
AMZN
+$242M
2
GRFS
Grifois
GRFS
+$196M
3
IPGP icon
IPG Photonics
IPGP
+$136M
4
CHKP icon
Check Point Software Technologies
CHKP
+$132M
5
PYPL icon
PayPal
PYPL
+$78.5M

Sector Composition

Rank Sector Weight
1 Technology 23.47%
2 Financials 22.05%
3 Communication Services 14.45%
4 Consumer Discretionary 10.66%
5 Consumer Staples 8.18%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VEA icon
76
Vanguard FTSE Developed Markets ETF
VEA
$240B
$1.28M 0.01%
29,055
+21,947
+309% +$936K
ST icon
77
Sensata Technologies
ST
$6.27B
$1.12M 0.01%
20,746
+2,032
+11% +$104K
EFG icon
78
iShares MSCI EAFE Growth ETF
EFG
$17B
$789K ﹤0.01%
9,126
+8,702
+2,052% +$726K
UGP icon
79
Ultrapar
UGP
$7.76B
$784K ﹤0.01%
125,172
+3,947
+3% +$20.1K
GRFS
80
Grifois
GRFS
$5.31B
$375K ﹤0.01%
16,104
-8,982,174
-100% -$196M
KOF icon
81
Coca-Cola Femsa
KOF
$23.5B
$368K ﹤0.01%
6,066
+1,025
+20% +$60.3K
ALL icon
82
Allstate
ALL
$65.6B
$344K ﹤0.01%
3,058
– –
SAN icon
83
Banco Santander
SAN
$217B
$258K ﹤0.01%
64,991
+54,438
+516% +$211K
ASML icon
84
ASML
ASML
$659B
$246K ﹤0.01%
832
+250
+43% +$67.5K
ELV icon
85
Elevance Health
ELV
$88.4B
$242K ﹤0.01%
800
– –
PG icon
86
Procter & Gamble
PG
$340B
$176K ﹤0.01%
1,406
– –
ZTO icon
87
ZTO Express
ZTO
$15.9B
$145K ﹤0.01%
+6,224
New +$135K
ITW icon
88
Illinois Tool Works
ITW
$76.9B
$144K ﹤0.01%
800
– –
EDU icon
89
New Oriental
EDU
$9.47B
$129K ﹤0.01%
1,061
-42
-4% -$5.02K
JNJ icon
90
Johnson & Johnson
JNJ
$663B
$117K ﹤0.01%
800
– –
SBNY
91
DELISTED
Signature Bank
SBNY
$92K ﹤0.01%
671
– –
JPM icon
92
JPMorgan Chase
JPM
$953B
$89K ﹤0.01%
641
– –
SNPS icon
93
Synopsys
SNPS
$75.5B
$84K ﹤0.01%
605
– –
MRK icon
94
Merck
MRK
$371B
$80K ﹤0.01%
922
– –
RMD icon
95
ResMed
RMD
$32.9B
$79K ﹤0.01%
510
– –
AVY icon
96
Avery Dennison
AVY
$13.3B
$78K ﹤0.01%
600
– –
ECL icon
97
Ecolab
ECL
$78.3B
$77K ﹤0.01%
400
– –
APH icon
98
Amphenol
APH
$204B
$76K ﹤0.01%
5,600
– –
APD icon
99
Air Products & Chemicals
APD
$67.1B
$75K ﹤0.01%
320
– –
FISV
100
Fiserv Inc
FISV
$28.2B
$72K ﹤0.01%
626
– –
2 3
4
5 6

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VAS
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DPIM
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CA
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SCM
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FCM
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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 Q4 2019 Portfolio in Review

As of Q4 2019, Harding Loevner held 141 positions worth $22.5B, up 6% from $21.2B the previous quarter. Its ten largest holdings account for 40% of the portfolio.

Harding Loevner withdrew a net $1.15B in Q4 2019, closing 1 position and reducing 64 holdings. Its most notable exit was Amazon, an estimated $242M position sold in full.

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.

Against the trend, Harding Loevner opened a new position in iShares MSCI EAFE ETF worth $19.3M.

  • Harding Loevner's largest Q4 2019 buy was iShares MSCI EAFE ETF: 278,464 shares worth $19.3M.
  • Harding Loevner added most to Baidu in Q4 2019, an estimated $165M increase.
  • Harding Loevner's biggest Q4 2019 reduction was Grifois, cutting an estimated $196M.
  • Harding Loevner fully exited Amazon in Q4 2019, selling an estimated $242M.
  • Harding Loevner's ten largest holdings make up 40% of its $22.5B portfolio in Q4 2019.
  • Harding Loevner opened 7 new positions and closed 1 in Q4 2019.
  • Harding Loevner's portfolio value rose 6% quarter-over-quarter to $22.5B.

Based on Harding Loevner's 13F filing for Q4 2019, filed 14 Feb 2020.