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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
-12.05%
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
$17.3B
AUM Growth
-$1.89B
Cap. Flow
+$964M
Cap. Flow %
5.58%
Top 10 Hldgs %
39.13%
Holding
147
New
13
Increased
54
Reduced
33
Closed
8

Top Buys

Rank Stock Value
1
NVDA icon
NVIDIA
NVDA
+$405M
2
FMX icon
Fomento Económico Mexicano
FMX
+$288M
3
NBIS
Nebius Group N.V.
NBIS
+$270M
4
LIN icon
Linde
LIN
+$155M
5
VEU icon
Vanguard FTSE All-World ex-US ETF
VEU
+$95.5M

Top Sells

Rank Stock Value
1
WB icon
Weibo
WB
+$235M
2
META icon
Meta Platforms (Facebook)
META
+$189M
3
FMS icon
Fresenius Medical Care
FMS
+$161M
4
ITUB icon
Itaú Unibanco
ITUB
+$118M
5
WPP icon
WPP
WPP
+$89.5M

Sector Composition

Rank Sector Weight
1 Financials 24.52%
2 Technology 22.66%
3 Consumer Discretionary 10.59%
4 Communication Services 10.06%
5 Industrials 8.34%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SNPS icon
101
Synopsys
SNPS
$75.5B
$53K ﹤0.01%
+635
New +$56.4K
APD icon
102
Air Products & Chemicals
APD
$67.1B
$51K ﹤0.01%
320
– –
TIF
103
DELISTED
Tiffany & Co.
TIF
$49K ﹤0.01%
+608
New +$62K
GOOGL icon
104
Alphabet (Google) Class A
GOOGL
$4.14T
$47K ﹤0.01%
900
– –
HCSG icon
105
Healthcare Services Group
HCSG
$1.5B
$46K ﹤0.01%
1,137
+515
+83% +$21.8K
ENS icon
106
EnerSys
ENS
$6.56B
$39K ﹤0.01%
503
+303
+152% +$24.6K
PRU icon
107
Prudential Financial
PRU
$42.1B
$38K ﹤0.01%
460
– –
CSCO icon
108
Cisco
CSCO
$431B
$37K ﹤0.01%
845
– –
LULU icon
109
lululemon athletica
LULU
$11.1B
$35K ﹤0.01%
290
– –
META icon
110
Meta Platforms (Facebook)
META
$1.57T
$35K ﹤0.01%
270
-1,306,384
-100% -$189M
HEI icon
111
HEICO Corp
HEI
$45.5B
$34K ﹤0.01%
434
+222
+105% +$18.5K
V icon
112
Visa
V
$700B
$34K ﹤0.01%
260
– –
OVV icon
113
Ovintiv
OVV
$17.9B
$33K ﹤0.01%
1,134
– –
ZTS icon
114
Zoetis
ZTS
$31.3B
$33K ﹤0.01%
380
– –
KSU
115
DELISTED
Kansas City Southern
KSU
$33K ﹤0.01%
341
+225
+194% +$22.8K
GWRE icon
116
Guidewire Software
GWRE
$13.5B
$32K ﹤0.01%
396
+244
+161% +$21.3K
DE icon
117
Deere & Co
DE
$187B
$30K ﹤0.01%
200
– –
NBL
118
DELISTED
Noble Energy, Inc.
NBL
$30K ﹤0.01%
1,600
– –
JPM icon
119
JPMorgan Chase
JPM
$953B
$29K ﹤0.01%
295
– –
ROL icon
120
Rollins
ROL
$17.3B
$29K ﹤0.01%
1,224
+324
+36% +$8.37K
BWA icon
121
BorgWarner
BWA
$13.8B
$22K ﹤0.01%
704
+437
+164% +$14.6K
WDAY icon
122
Workday
WDAY
$47.2B
$22K ﹤0.01%
140
– –
RHT
123
DELISTED
Red Hat Inc
RHT
$21K ﹤0.01%
120
– –
ADBE icon
124
Adobe
ADBE
$106B
$20K ﹤0.01%
90
– –
HP icon
125
Helmerich & Payne
HP
$4.43B
$20K ﹤0.01%
407
+227
+126% +$13.9K
2 3 4
5
6

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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 Q4 2018 Portfolio in Review

As of Q4 2018, Harding Loevner held 147 positions worth $17.3B, down 9.9% from $19.2B the previous quarter. Its ten largest holdings account for 39% of the portfolio.

Harding Loevner deployed $964M of net new capital in Q4 2018, opening 13 new positions and adding to 54 existing holdings. Its largest new stake was Linde: 982,935 shares worth $153M.

By sector, the portfolio is most concentrated in Financials at 25% of assets, up from 22% a quarter earlier, followed by Technology and Consumer Discretionary.

On the sell side, the largest reduction was Weibo, an estimated $235M trimmed.

  • Harding Loevner's largest Q4 2018 buy was Linde: 982,935 shares worth $153M.
  • Harding Loevner added most to NVIDIA in Q4 2018, an estimated $405M increase.
  • Harding Loevner's biggest Q4 2018 reduction was Weibo, cutting an estimated $235M.
  • Harding Loevner fully exited WPP in Q4 2018, selling an estimated $89.5M.
  • Harding Loevner's ten largest holdings make up 39% of its $17.3B portfolio in Q4 2018.
  • Harding Loevner opened 13 new positions and closed 8 in Q4 2018.
  • Harding Loevner's portfolio value fell 9.9% quarter-over-quarter to $17.3B.

Based on Harding Loevner's 13F filing for Q4 2018, filed 14 Feb 2019.