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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
+16.71%
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
$21.3B
AUM Growth
+$4B
(+23%)
Cap. Flow
+$1.22B
Cap. Flow
% of AUM
5.74%
Top 10 Holdings %
Top 10 Hldgs %
37.61%
Holding
143
New
4
Increased
59
Reduced
27
Closed
11
Avg Time Held
11.4
quarters
Top 10 Avg Time Held
9.2
quarters
Top 20 Avg Time Held
10
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
CHL
China Mobile Limited
CHL
|
+$520M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$426M |
| 3 |
Ambev
ABEV
|
+$207M |
| 4 |
Diageo
DEO
|
+$162M |
| 5 |
Illumina
ILMN
|
+$144M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Tenaris
TS
|
+$263M |
| 2 |
Itaú Unibanco
ITUB
|
+$151M |
| 3 |
RDS.B
Royal Dutch Shell PLC ADS Class B
RDS.B
|
+$143M |
| 4 |
Cencora
COR
|
+$140M |
| 5 |
NVIDIA
NVDA
|
+$129M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 23.38% |
| 2 | Financials | 21.86% |
| 3 | Communication Services | 13.02% |
| 4 | Consumer Discretionary | 11.75% |
| 5 | Consumer Staples | 7.79% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
101
CVS Health
CVS
$110B
| $47K | ﹤0.01% |
870
| – | – |
2018 Q3
2 quarters
|
|
102
Cisco
CSCO
$467B
| $46K | ﹤0.01% |
845
| – | – |
2017 Q2
7 quarters
|
|
103
Danaher
DHR
$155B
| $43K | ﹤0.01% |
369
-313
| -46% | -$32.1K |
2018 Q1
4 quarters
|
|
104
Prudential Financial
PRU
$39B
| $42K | ﹤0.01% |
460
| – | – |
2017 Q2
7 quarters
|
|
105
HEICO Corp
HEI
$41.7B
| $41K | ﹤0.01% |
434
| – | – |
2018 Q1
4 quarters
|
|
106
Visa
V
$724B
| $41K | ﹤0.01% |
260
| – | – |
2017 Q2
7 quarters
|
|
|
KSU
107
DELISTED
Kansas City Southern
KSU
| $40K | ﹤0.01% |
341
| – | – |
2018 Q2
3 quarters
|
|
|
NBL
108
DELISTED
Noble Energy, Inc.
NBL
| $40K | ﹤0.01% |
1,600
| – | – |
2017 Q2
7 quarters
|
|
109
Zoetis
ZTS
$30.9B
| $38K | ﹤0.01% |
380
| – | – |
2017 Q2
7 quarters
|
|
110
Guidewire Software
GWRE
$13.7B
| $36K | ﹤0.01% |
374
-22
| -6% | -$1.97K |
2018 Q2
3 quarters
|
|
111
Healthcare Services Group
HCSG
$1.41B
| $36K | ﹤0.01% |
1,095
-42
| -4% | -$1.61K |
2017 Q3
6 quarters
|
|
112
Rollins
ROL
$15.4B
| $34K | ﹤0.01% |
1,224
| – | – |
2017 Q2
7 quarters
|
|
113
Deere & Co
DE
$167B
| $32K | ﹤0.01% |
200
| – | – |
2017 Q2
7 quarters
|
|
114
EnerSys
ENS
$6.48B
| $31K | ﹤0.01% |
481
-22
| -4% | -$1.66K |
2018 Q1
4 quarters
|
|
115
BorgWarner
BWA
$12.5B
| $30K | ﹤0.01% |
900
+196
| +28% | +$6.78K |
2018 Q1
4 quarters
|
|
116
JPMorgan Chase
JPM
$885B
| $30K | ﹤0.01% |
295
| – | – |
2017 Q2
7 quarters
|
|
117
Workday
WDAY
$45B
| $27K | ﹤0.01% |
140
| – | – |
2017 Q2
7 quarters
|
|
118
Adobe
ADBE
$94.3B
| $24K | ﹤0.01% |
90
| – | – |
2017 Q2
7 quarters
|
|
119
Helmerich & Payne
HP
$3.99B
| $23K | ﹤0.01% |
407
| – | – |
2017 Q2
7 quarters
|
|
120
Mettler-Toledo International
MTD
$31.1B
| $22K | ﹤0.01% |
30
| – | – |
2017 Q2
7 quarters
|
|
|
RHT
121
DELISTED
Red Hat Inc
RHT
| $22K | ﹤0.01% |
120
| – | – |
2017 Q2
7 quarters
|
|
122
Salesforce
CRM
$189B
| $21K | ﹤0.01% |
130
| – | – |
2017 Q2
7 quarters
|
|
123
Idexx Laboratories
IDXX
$40.8B
| $16K | ﹤0.01% |
70
| – | – |
2017 Q2
7 quarters
|
|
124
Thermo Fisher Scientific
TMO
$243B
| $16K | ﹤0.01% |
60
| – | – |
2017 Q2
7 quarters
|
|
|
ANSS
125
DELISTED
Ansys
ANSS
| $14K | ﹤0.01% |
78
| – | – |
2018 Q4
1 quarter
|
|
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Harding Loevner's Q1 2019 Portfolio in Review
As of Q1 2019, Harding Loevner held 143 positions worth $21.3B, up 23% from $17.3B the previous quarter. Its ten largest holdings account for 38% of the portfolio.
Harding Loevner deployed $1.22B of net new capital in Q1 2019, opening 4 new positions and adding to 59 existing holdings. Its largest new stake was Diageo: 1,063,948 shares worth $174M.
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.
On the sell side, the largest reduction was Tenaris, an estimated $263M trimmed.
- Harding Loevner's largest Q1 2019 buy was Diageo: 1,063,948 shares worth $174M.
- Harding Loevner added most to China Mobile Limited in Q1 2019, an estimated $520M increase.
- Harding Loevner's biggest Q1 2019 reduction was Tenaris, cutting an estimated $263M.
- Harding Loevner fully exited iShares MSCI ACWI ex US ETF in Q1 2019, selling an estimated $40.7M.
- Harding Loevner's ten largest holdings make up 38% of its $21.3B portfolio in Q1 2019.
- Harding Loevner opened 4 new positions and closed 11 in Q1 2019.
- Harding Loevner's portfolio value rose 23% quarter-over-quarter to $21.3B.
Based on Harding Loevner's 13F filing for Q1 2019, filed 15 May 2019.