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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
-0.17%
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
$17.8B
AUM Growth
-$1.45B
Cap. Flow
-$1.04B
Cap. Flow %
-5.84%
Top 10 Hldgs %
39.23%
Holding
158
New
6
Increased
38
Reduced
44
Closed
21

Top Buys

Rank Stock Value
1
BABA icon
Alibaba
BABA
+$208M
2
CGNX icon
Cognex
CGNX
+$130M
3
BIDU icon
Baidu
BIDU
+$121M
4
ITUB icon
Itaú Unibanco
ITUB
+$72.8M
5
EPAM icon
EPAM Systems
EPAM
+$64.3M

Top Sells

Rank Stock Value
1
SHPG
Shire pic
SHPG
+$239M
2
RDS.B
Royal Dutch Shell PLC ADS Class B
RDS.B
+$159M
3
WB icon
Weibo
WB
+$155M
4
TSM icon
TSMC
TSM
+$155M
5
SAP icon
SAP
SAP
+$148M

Sector Composition

Rank Sector Weight
1 Financials 24.01%
2 Technology 19.18%
3 Communication Services 14.15%
4 Energy 11.4%
5 Consumer Discretionary 10.14%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NVDA icon
126
NVIDIA
NVDA
$5.56T
$14K ﹤0.01%
2,400
– –
DHR icon
127
Danaher
DHR
$146B
$13K ﹤0.01%
152
– –
EMR icon
128
Emerson Electric
EMR
$85.2B
$13K ﹤0.01%
185
– –
GWRE icon
129
Guidewire Software
GWRE
$13.5B
$13K ﹤0.01%
+152
New +$13.5K
TROW icon
130
T. Rowe Price
TROW
$23.4B
$13K ﹤0.01%
109
-461
-81% -$53.6K
TMO icon
131
Thermo Fisher Scientific
TMO
$227B
$12K ﹤0.01%
60
– –
TXN icon
132
Texas Instruments
TXN
$236B
$12K ﹤0.01%
110
-280
-72% -$30.3K
KSU
133
DELISTED
Kansas City Southern
KSU
$12K ﹤0.01%
+116
New +$12.6K
HP icon
134
Helmerich & Payne
HP
$4.43B
$11K ﹤0.01%
180
– –
BWA icon
135
BorgWarner
BWA
$13.8B
$10K ﹤0.01%
267
– –
HCSG icon
136
Healthcare Services Group
HCSG
$1.5B
$10K ﹤0.01%
220
– –
RIG icon
137
Transocean
RIG
$6.53B
$3K ﹤0.01%
218
– –
AER icon
138
AerCap
AER
$22.9B
– –
-220
Closed -$11K
AVGO icon
139
Broadcom
AVGO
$1.7T
– –
-2,670
Closed -$63K
BTI icon
140
British American Tobacco
BTI
$119B
– –
-365
Closed -$21K
CVE icon
141
Cenovus Energy
CVE
$59.7B
– –
-4
Closed –
EFA icon
142
iShares MSCI EAFE ETF
EFA
$80.1B
– –
-300
Closed -$21K
EFX icon
143
Equifax
EFX
$20.8B
– –
-520
Closed -$61K
EG icon
144
Everest Group
EG
$14.6B
– –
-120
Closed -$31K
IBM icon
145
IBM
IBM
$221B
– –
-397
Closed -$58K
IJK icon
146
iShares S&P Mid-Cap 400 Growth ETF
IJK
$10.8B
– –
-4,652
Closed -$254K
LOGI icon
147
Logitech
LOGI
$14.6B
– –
-304
Closed -$11K
OTEX icon
148
Open Text
OTEX
$5.8B
– –
-1
Closed –
PSMT icon
149
Pricesmart
PSMT
$5.37B
– –
-18,377
Closed -$1.53M
RYAAY icon
150
Ryanair
RYAAY
$28.7B
– –
-808
Closed -$40K
3 4 5
6
7

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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 Q2 2018 Portfolio in Review

As of Q2 2018, Harding Loevner held 158 positions worth $17.8B, down 7.6% from $19.2B the previous quarter. Its ten largest holdings account for 39% of the portfolio.

Harding Loevner withdrew a net $1.04B in Q2 2018, closing 21 positions and reducing 44 holdings. Its most notable exit was Starbucks, an estimated $135M position sold in full.

By sector, the portfolio is most concentrated in Financials at 24% of assets, down from 24% a quarter earlier, followed by Technology and Communication Services.

Against the trend, Harding Loevner opened a new position in Cognex worth $122M.

  • Harding Loevner's largest Q2 2018 buy was Cognex: 2,743,171 shares worth $122M.
  • Harding Loevner added most to Alibaba in Q2 2018, an estimated $208M increase.
  • Harding Loevner's biggest Q2 2018 reduction was Shire pic, cutting an estimated $239M.
  • Harding Loevner fully exited Starbucks in Q2 2018, selling an estimated $135M.
  • Harding Loevner's ten largest holdings make up 39% of its $17.8B portfolio in Q2 2018.
  • Harding Loevner opened 6 new positions and closed 21 in Q2 2018.
  • Harding Loevner's portfolio value fell 7.6% quarter-over-quarter to $17.8B.

Based on Harding Loevner's 13F filing for Q2 2018, filed 14 Aug 2018.