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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
ADP icon
101
Automatic Data Processing
ADP
$110B
$71K ﹤0.01%
418
– –
RGA icon
102
Reinsurance Group of America
RGA
$16.5B
$68K ﹤0.01%
415
– –
OVV icon
103
Ovintiv
OVV
$17.9B
$67K ﹤0.01%
2,844
+702
+33% +$15K
MCD icon
104
McDonald's
MCD
$181B
$62K ﹤0.01%
313
– –
DHR icon
105
Danaher
DHR
$146B
$50K ﹤0.01%
369
– –
GWRE icon
106
Guidewire Software
GWRE
$13.5B
$44K ﹤0.01%
398
+24
+6% +$2.69K
PRU icon
107
Prudential Financial
PRU
$42.1B
$43K ﹤0.01%
460
– –
ROL icon
108
Rollins
ROL
$17.3B
$43K ﹤0.01%
1,949
+725
+59% +$17.2K
ENS icon
109
EnerSys
ENS
$6.56B
$42K ﹤0.01%
560
– –
CSCO icon
110
Cisco
CSCO
$431B
$41K ﹤0.01%
845
– –
NBL
111
DELISTED
Noble Energy, Inc.
NBL
$40K ﹤0.01%
1,600
– –
IPGP icon
112
IPG Photonics
IPGP
$3.32B
$36K ﹤0.01%
249
-974,694
-100% -$136M
DE icon
113
Deere & Co
DE
$187B
$35K ﹤0.01%
200
– –
ZTS icon
114
Zoetis
ZTS
$31.3B
$35K ﹤0.01%
261
-119
-31% -$14.8K
BWA icon
115
BorgWarner
BWA
$13.8B
$34K ﹤0.01%
900
– –
ALTR
116
DELISTED
Altair Engineering Inc
ALTR
$34K ﹤0.01%
942
– –
HCSG icon
117
Healthcare Services Group
HCSG
$1.5B
$32K ﹤0.01%
1,304
– –
HEI icon
118
HEICO Corp
HEI
$45.5B
$32K ﹤0.01%
279
– –
ADBE icon
119
Adobe
ADBE
$106B
$30K ﹤0.01%
90
– –
PRLB icon
120
Protolabs
PRLB
$1.95B
$27K ﹤0.01%
266
– –
HP icon
121
Helmerich & Payne
HP
$4.43B
$25K ﹤0.01%
554
– –
RGEN icon
122
Repligen
RGEN
$9.46B
$23K ﹤0.01%
253
– –
ANSS
123
DELISTED
Ansys
ANSS
$20K ﹤0.01%
78
– –
TMO icon
124
Thermo Fisher Scientific
TMO
$227B
$19K ﹤0.01%
60
– –
IDXX icon
125
Idexx Laboratories
IDXX
$42.2B
$18K ﹤0.01%
70
– –
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 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.