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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
AVY icon
101
Avery Dennison
AVY
$13.4B
$61K ﹤0.01%
600
– –
CHD icon
102
Church & Dwight Co
CHD
$24.5B
$58K ﹤0.01%
+900
New +$63.9K
JPM icon
103
JPMorgan Chase
JPM
$950B
$58K ﹤0.01%
641
– –
ADP icon
104
Automatic Data Processing
ADP
$108B
$57K ﹤0.01%
418
– –
SBNY
105
DELISTED
Signature Bank
SBNY
$54K ﹤0.01%
671
– –
DPZ icon
106
Domino's
DPZ
$11.6B
$52K ﹤0.01%
+159
New +$49K
MCD icon
107
McDonald's
MCD
$195B
$52K ﹤0.01%
313
– –
ROL icon
108
Rollins
ROL
$18.2B
$47K ﹤0.01%
1,949
– –
DHR icon
109
Danaher
DHR
$144B
$45K ﹤0.01%
369
– –
RGA icon
110
Reinsurance Group of America
RGA
$16.1B
$35K ﹤0.01%
415
– –
CSCO icon
111
Cisco
CSCO
$479B
$33K ﹤0.01%
845
– –
HCSG icon
112
Healthcare Services Group
HCSG
$1.53B
$31K ﹤0.01%
1,304
– –
ZTS icon
113
Zoetis
ZTS
$30B
$31K ﹤0.01%
261
– –
ENS icon
114
EnerSys
ENS
$6.99B
$30K ﹤0.01%
606
+46
+8% +$3K
ADBE icon
115
Adobe
ADBE
$105B
$29K ﹤0.01%
90
– –
BWA icon
116
BorgWarner
BWA
$13.9B
$27K ﹤0.01%
1,251
+351
+39% +$10.1K
HEI icon
117
HEICO Corp
HEI
$51.4B
$27K ﹤0.01%
357
+78
+28% +$8.53K
ALTR
118
DELISTED
Altair Engineering Inc
ALTR
$25K ﹤0.01%
942
– –
GWRE icon
119
Guidewire Software
GWRE
$14.2B
$24K ﹤0.01%
308
-90
-23% -$9.4K
RGEN icon
120
Repligen
RGEN
$9.25B
$24K ﹤0.01%
253
– –
NBIX icon
121
Neurocrine Biosciences
NBIX
$16.6B
$22K ﹤0.01%
+256
New +$25.1K
ANSS
122
DELISTED
Ansys
ANSS
$18K ﹤0.01%
78
– –
IDXX icon
123
Idexx Laboratories
IDXX
$46.2B
$17K ﹤0.01%
70
– –
TMO icon
124
Thermo Fisher Scientific
TMO
$220B
$17K ﹤0.01%
60
– –
NOW icon
125
ServiceNow
NOW
$129B
$15K ﹤0.01%
270
– –
3 4
5
6 7

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DCP
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FCM
Frontier Capital Management Boston, Massachusetts $9.73B AUM 55.65% 1-Year Est. Return
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
Mairs & Power Inc St Paul, Minnesota $9.79B AUM 20.6% 1-Year Est. Return
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.