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HL

Harding Loevner Portfolio holdings

AUM $9.72B
1-Year Est. Return 22.38%
This Fund
S&P 500
This Quarter Est. Return
-21.3%
1 Year Est. Return
+22.38%
3 Year Est. Return
+79.36%
5 Year Est. Return
+98.01%
10 Year Est. Return
+375.62%
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

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 16.5%
3 Communication Services 15.02%
4 Consumer Discretionary 10.17%
5 Industrials 8.69%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ACWI icon
76
iShares MSCI ACWI ETF
ACWI
$33.5B
$3.44M 0.02%
54,991
+13,622
+33% +$1.01M
ACWX icon
77
iShares MSCI ACWI ex US ETF
ACWX
$11.8B
$3.09M 0.02%
82,116
-259,983
-76% -$11.7M
EFG icon
78
iShares MSCI EAFE Growth ETF
EFG
$17.3B
$2.06M 0.01%
28,930
+19,804
+217% +$1.6M
CLB icon
79
Core Laboratories
CLB
$521M
$1.79M 0.01%
172,866
+29,783
+21% +$833K
EFA icon
80
iShares MSCI EAFE ETF
EFA
$80.2B
$1.54M 0.01%
28,735
-249,729
-90% -$15.8M
ST icon
81
Sensata Technologies
ST
$6.79B
$628K ﹤0.01%
21,715
+969
+5% +$41.8K
HSBC icon
82
HSBC
HSBC
$356B
$455K ﹤0.01%
16,246
-4,759,322
-100% -$165M
KOF icon
83
Coca-Cola Femsa
KOF
$23.2B
$283K ﹤0.01%
7,044
+978
+16% +$55.1K
ALL icon
84
Allstate
ALL
$67.5B
$281K ﹤0.01%
3,058
– –
UGP icon
85
Ultrapar
UGP
$6.54B
$200K ﹤0.01%
82,201
-42,971
-34% -$206K
ELV icon
86
Elevance Health
ELV
$85.5B
$182K ﹤0.01%
800
– –
IOO icon
87
iShares Global 100 ETF
IOO
$9.25B
$172K ﹤0.01%
+3,851
New +$198K
VT icon
88
Vanguard Total World Stock ETF
VT
$79.8B
$157K ﹤0.01%
2,495
+2,372
+1,928% +$179K
SAN icon
89
Banco Santander
SAN
$210B
$154K ﹤0.01%
68,197
+3,206
+5% +$11K
PG icon
90
Procter & Gamble
PG
$339B
$147K ﹤0.01%
1,332
-74
-5% -$8.88K
IMO icon
91
Imperial Oil
IMO
$60.4B
$137K ﹤0.01%
+12,300
New +$257K
EDU icon
92
New Oriental
EDU
$8.98B
$115K ﹤0.01%
1,061
– –
ITW icon
93
Illinois Tool Works
ITW
$84.5B
$114K ﹤0.01%
800
– –
JNJ icon
94
Johnson & Johnson
JNJ
$625B
$105K ﹤0.01%
800
– –
RYAAY icon
95
Ryanair
RYAAY
$31.3B
$75K ﹤0.01%
+3,543
New +$112K
WB icon
96
Weibo
WB
$1.95B
$72K ﹤0.01%
2,175
-1,458,408
-100% -$61.8M
MRK icon
97
Merck
MRK
$318B
$68K ﹤0.01%
922
– –
ASML icon
98
ASML
ASML
$669B
$66K ﹤0.01%
251
-581
-70% -$165K
APD icon
99
Air Products & Chemicals
APD
$67.6B
$64K ﹤0.01%
320
– –
ECL icon
100
Ecolab
ECL
$79.9B
$62K ﹤0.01%
400
– –
2 3
4
5 6

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FCM
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CCM
Cullen Capital Management New York $9.75B AUM 21.81% 1-Year Est. Return
URS
Utah Retirement Systems Salt Lake City, Utah $9.78B AUM 28.72% 1-Year Est. Return
MPI
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TIM
Thornburg Investment Management Santa Fe, New Mexico $9.63B AUM 35.65% 1-Year Est. Return
SC
Sculptor Capital New York $9.61B AUM 27.5% 1-Year Est. Return
TCA
Tortoise Capital Advisors Overland Park, Kansas $9.6B AUM 19.53% 1-Year Est. Return

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.