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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 | |
|---|---|---|---|---|---|---|---|
126
IQVIA
IQV
$42.8B
| $14K | ﹤0.01% |
100
| – | – |
2017 Q4
5 quarters
|
|
127
Emerson Electric
EMR
$90.3B
| $13K | ﹤0.01% |
185
| – | – |
2018 Q1
4 quarters
|
|
128
Texas Instruments
TXN
$259B
| $12K | ﹤0.01% |
110
| – | – |
2017 Q2
7 quarters
|
|
|
129
Cencora
COR
$61.8B
| $10K | ﹤0.01% |
130
-1,742,804
| -100% | -$140M |
2016 Q2
11 quarters
|
|
130
Exponent
EXPO
$3.32B
| $10K | ﹤0.01% |
175
| – | – |
2018 Q4
1 quarter
|
|
131
Church & Dwight Co
CHD
$23.3B
| $7K | ﹤0.01% |
94
-43
| -31% | -$2.83K |
2017 Q2
7 quarters
|
|
132
Transocean
RIG
$6.15B
| $2K | ﹤0.01% |
218
| – | – |
2017 Q2
7 quarters
|
|
133
iShares MSCI ACWI ex US ETF
ACWX
$17.7B
| – | – |
-970,936
| Closed | -$40.7M | – |
|
134
iShares MSCI EAFE ETF
EFA
$76.4B
| – | – |
-26,917
| Closed | -$1.58M | – |
|
135
iShares MSCI EAFE Growth ETF
EFG
$15.1B
| – | – |
-10,864
| Closed | -$750K | – |
|
136
Fiserv Inc
FISV
$24.3B
| – | – |
-900
| Closed | -$66K | – |
|
137
Fresenius Medical Care
FMS
$11.2B
| – | – |
-201,548
| Closed | -$6.53M | – |
|
138
ServiceNow
NOW
$146B
| – | – |
-390
| Closed | -$14K | – |
|
139
Novartis
NVS
$273B
| – | – |
-1,953
| Closed | -$150K | – |
|
140
iShares MSCI EAFE Small-Cap ETF
SCZ
$12.7B
| – | – |
-169,417
| Closed | -$8.78M | – |
|
141
TAL Education Group
TAL
$7.13B
| – | – |
-3,598
| Closed | -$96K | – |
|
142
Tractor Supply
TSCO
$17.6B
| – | – |
-3,645
| Closed | -$61K | – |
|
143
Vanguard FTSE Developed Markets ETF
VEA
$230B
| – | – |
-3,037
| Closed | -$113K | – |
|
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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.