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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
-21.3%
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
$17.9B
AUM Growth
-$4.56B
Cap. Flow
+$1.2B
Cap. Flow %
6.71%
Top 10 Hldgs %
38.44%
Holding
153
New
13
Increased
41
Reduced
57
Closed
6
Avg Time Held
12.6 quarters
Top 10 Avg Time Held
7.1 quarters
Top 20 Avg Time Held
11.1 quarters

Top Buys

Rank Stock Value
1
ABEV icon
Ambev
ABEV
+$220M
2
ILMN icon
Illumina
ILMN
+$210M
3
HDB icon
HDFC Bank
HDB
+$188M
4
META icon
Meta Platforms (Facebook)
META
+$183M
5
DE icon
Deere & Co
DE
+$176M

Top Sells

Rank Stock Value
1
CHKP icon
Check Point Software Technologies
CHKP
+$272M
2
REGN icon
Regeneron Pharmaceuticals
REGN
+$244M
3
SLB icon
SLB Ltd
SLB
+$200M
4
HSBC icon
HSBC
HSBC
+$165M
5
CL icon
Colgate-Palmolive
CL
+$124M

Sector Composition

Rank Sector Weight
1 Technology 24.83%
2 Financials 18.24%
3 Communication Services 17.12%
4 Consumer Discretionary 10.17%
5 Industrials 8.69%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
ACWI icon
76
iShares MSCI ACWI ETF
ACWI
$33.3B
$3.44M 0.02%
54,991
+13,622
+33% +$1.01M
2019 Q3
2 quarters
ACWX icon
77
iShares MSCI ACWI ex US ETF
ACWX
$17.7B
$3.09M 0.02%
82,116
-259,983
-76% -$11.7M
2019 Q4
1 quarter
EFG icon
78
iShares MSCI EAFE Growth ETF
EFG
$15.1B
$2.06M 0.01%
28,930
+19,804
+217% +$1.6M
2019 Q2
3 quarters
CLB icon
79
Core Laboratories
CLB
$463M
$1.79M 0.01%
172,866
+29,783
+21% +$833K
2018 Q2
7 quarters
EFA icon
80
iShares MSCI EAFE ETF
EFA
$76.4B
$1.54M 0.01%
28,735
-249,729
-90% -$15.8M
2019 Q4
1 quarter
ST icon
81
Sensata Technologies
ST
$6.15B
$628K ﹤0.01%
21,715
+969
+5% +$41.8K
2018 Q1
8 quarters
HSBC icon
82
HSBC
HSBC
$318B
$455K ﹤0.01%
16,246
-4,759,322
-100% -$165M
2015 Q3
18 quarters
KOF icon
83
Coca-Cola Femsa
KOF
$23.1B
$283K ﹤0.01%
7,044
+978
+16% +$55.1K
2015 Q3
18 quarters
ALL icon
84
Allstate
ALL
$58B
$281K ﹤0.01%
3,058
– –
2014 Q1
24 quarters
UGP icon
85
Ultrapar
UGP
$8.42B
$200K ﹤0.01%
82,201
-42,971
-34% -$206K
2017 Q2
11 quarters
ELV icon
86
Elevance Health
ELV
$89.5B
$182K ﹤0.01%
800
– –
2017 Q2
11 quarters
IOO icon
87
iShares Global 100 ETF
IOO
$9.31B
$172K ﹤0.01%
+3,851
New +$198K
2020 Q1
0 quarters
VT icon
88
Vanguard Total World Stock ETF
VT
$81.6B
$157K ﹤0.01%
2,495
+2,372
+1,928% +$179K
2019 Q4
1 quarter
SAN icon
89
Banco Santander
SAN
$195B
$154K ﹤0.01%
68,197
+3,206
+5% +$11K
2019 Q3
2 quarters
PG icon
90
Procter & Gamble
PG
$351B
$147K ﹤0.01%
1,332
-74
-5% -$8.88K
2017 Q2
11 quarters
IMO icon
91
Imperial Oil
IMO
$59.5B
$137K ﹤0.01%
+12,300
New +$257K
2020 Q1
0 quarters
EDU icon
92
New Oriental
EDU
$9.09B
$115K ﹤0.01%
1,061
– –
2017 Q4
9 quarters
ITW icon
93
Illinois Tool Works
ITW
$75.2B
$114K ﹤0.01%
800
– –
2017 Q2
11 quarters
JNJ icon
94
Johnson & Johnson
JNJ
$630B
$105K ﹤0.01%
800
– –
2017 Q2
11 quarters
RYAAY icon
95
Ryanair
RYAAY
$28.1B
$75K ﹤0.01%
+3,543
New +$112K
2020 Q1
0 quarters
WB icon
96
Weibo
WB
$1.61B
$72K ﹤0.01%
2,175
-1,458,408
-100% -$61.8M
2016 Q4
13 quarters
MRK icon
97
Merck
MRK
$359B
$68K ﹤0.01%
922
– –
2018 Q4
5 quarters
ASML icon
98
ASML
ASML
$684B
$66K ﹤0.01%
251
-581
-70% -$165K
2017 Q2
11 quarters
APD icon
99
Air Products & Chemicals
APD
$62.6B
$64K ﹤0.01%
320
– –
2017 Q2
11 quarters
ECL icon
100
Ecolab
ECL
$79B
$62K ﹤0.01%
400
– –
2017 Q2
11 quarters
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
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AAM
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Harding Loevner's Q1 2020 Portfolio in Review

As of Q1 2020, Harding Loevner held 153 positions worth $17.9B, down 20% from $22.5B the previous quarter. Its ten largest holdings account for 38% of the portfolio.

Harding Loevner deployed $1.2B of net new capital in Q1 2020, opening 13 new positions and adding to 41 existing holdings. Its largest new stake was Estee Lauder: 828,037 shares worth $132M.

By sector, the portfolio is most concentrated in Technology at 25% of assets, up from 23% a quarter earlier, followed by Financials and Communication Services.

On the sell side, the largest reduction was Check Point Software Technologies, an estimated $272M trimmed.

  • Harding Loevner's largest Q1 2020 buy was Estee Lauder: 828,037 shares worth $132M.
  • Harding Loevner added most to Ambev in Q1 2020, an estimated $220M increase.
  • Harding Loevner's biggest Q1 2020 reduction was Check Point Software Technologies, cutting an estimated $272M.
  • Harding Loevner fully exited JD.com in Q1 2020, selling an estimated $86.9M.
  • Harding Loevner's ten largest holdings make up 38% of its $17.9B portfolio in Q1 2020.
  • Harding Loevner opened 13 new positions and closed 6 in Q1 2020.
  • Harding Loevner's portfolio value fell 20% quarter-over-quarter to $17.9B.

Based on Harding Loevner's 13F filing for Q1 2020, filed 15 May 2020.