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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
+2.83%
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
$19.2B
AUM Growth
+$1.39B
(+7.8%)
Cap. Flow
+$1.14B
Cap. Flow
% of AUM
5.94%
Top 10 Holdings %
Top 10 Hldgs %
40.55%
Holding
140
New
3
Increased
58
Reduced
20
Closed
6
Top Buys
| 1 |
Ambev
ABEV
|
+$297M |
| 2 |
Alibaba
BABA
|
+$178M |
| 3 |
Weibo
WB
|
+$120M |
| 4 |
NBIS
Nebius Group N.V.
NBIS
|
+$107M |
| 5 |
SAP
SAP
|
+$91.7M |
Top Sells
| 1 |
Banco Santander Chile
BSAC
|
+$94M |
| 2 |
SIVB
SVB Financial Group
SIVB
|
+$93.4M |
| 3 |
CBD
Companhia Brasileira de Distribuicao
CBD
|
+$58.4M |
| 4 |
NetEase
NTES
|
+$42.7M |
| 5 |
Credicorp
BAP
|
+$29.6M |
Sector Composition
| 1 | Technology | 21.79% |
| 2 | Financials | 19.73% |
| 3 | Communication Services | 13.34% |
| 4 | Consumer Discretionary | 10.29% |
| 5 | Industrials | 9.08% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Baidu
BIDU
$38.4B
| $1.18B | 6.16% |
5,166,996
+308,963
| +6% | +$72.6M |
|
2
Check Point Software Technologies
CHKP
$14.2B
| $937M | 4.89% |
7,966,182
+357,552
| +5% | +$40.6M |
|
3
TSMC
TSM
$2.13T
| $937M | 4.89% |
21,219,414
+861,827
| +4% | +$35.7M |
|
4
Itaú Unibanco
ITUB
$91.5B
| $828M | 4.32% |
155,453,768
+3,987,774
| +3% | +$21.4M |
|
|
5
SAP
SAP
$189B
| $770M | 4.02% |
6,260,613
+773,080
| +14% | +$91.7M |
|
6
Canadian National Railway
CNI
$77.8B
| $696M | 3.63% |
7,747,527
+332,128
| +4% | +$29M |
|
7
SLB Ltd
SLB
$70.4B
| $663M | 3.46% |
10,885,427
+359,490
| +3% | +$23.1M |
|
|
8
Alibaba
BABA
$282B
| $654M | 3.41% |
3,969,182
+1,004,851
| +34% | +$178M |
|
9
Tenaris
TS
$28.1B
| $579M | 3.02% |
17,280,466
+1,873,253
| +12% | +$65M |
|
10
PayPal
PYPL
$50B
| $529M | 2.76% |
6,021,407
+215,617
| +4% | +$19M |
|
|
11
Weibo
WB
$1.93B
| $512M | 2.67% |
6,998,040
+1,495,740
| +27% | +$120M |
|
12
ICICI Bank
IBN
$106B
| $456M | 2.38% |
53,765,809
+1,117,958
| +2% | +$9.88M |
|
13
Roper Technologies
ROP
$36.8B
| $438M | 2.29% |
1,479,494
+37,930
| +3% | +$11.2M |
|
|
14
Ambev
ABEV
$47.1B
| $398M | 2.08% |
87,068,069
+62,308,251
| +252% | +$297M |
|
15
HDFC Bank
HDB
$135B
| $383M | 2% |
16,276,944
+551,140
| +4% | +$14M |
|
|
FRC
16
DELISTED
First Republic Bank
FRC
| $375M | 1.96% |
3,910,455
+158,018
| +4% | +$15.9M |
|
17
Booking.com
BKNG
$143B
| $362M | 1.89% |
4,563,500
+184,225
| +4% | +$14.5M |
|
|
GRFS
18
Grifois
GRFS
$4.99B
| $357M | 1.86% |
16,720,780
+216,289
| +1% | +$4.57M |
|
19
Verisk Analytics
VRSK
$26.4B
| $353M | 1.84% |
2,929,716
+85,449
| +3% | +$9.94M |
|
|
RDS.B
20
DELISTED
Royal Dutch Shell PLC ADS Class B
RDS.B
| $336M | 1.75% |
4,743,034
-4,667
| -0.1% | -$323K |
|
|
CEO
21
DELISTED
CNOOC Limited
CEO
| $315M | 1.64% |
1,595,720
+16,655
| +1% | +$2.82M |
|
|
JOBS
22
DELISTED
51job Inc
JOBS
| $309M | 1.61% |
4,008,290
-264,693
| -6% | -$21.1M |
|
23
Mastercard
MA
$487B
| $298M | 1.56% |
1,340,109
+42,664
| +3% | +$8.9M |
|
24
Apple
AAPL
$4.89T
| $288M | 1.5% |
5,104,808
+237,128
| +5% | +$12.3M |
|
|
NBIS
25
Nebius Group N.V.
NBIS
$43.6B
| $259M | 1.35% |
7,877,559
+3,155,410
| +67% | +$107M |
|
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Harding Loevner's Q3 2018 Portfolio in Review
As of Q3 2018, Harding Loevner held 140 positions worth $19.2B, up 7.8% from $17.8B the previous quarter. Its ten largest holdings account for 41% of the portfolio.
Harding Loevner deployed $1.14B of net new capital in Q3 2018, opening 3 new positions and adding to 58 existing holdings. Its largest new stake was iShares MSCI EAFE Growth ETF: 1,226 shares worth $98K.
By sector, the portfolio is most concentrated in Technology at 22% of assets, up from 19% a quarter earlier, followed by Financials and Communication Services.
On the sell side, the largest reduction was Banco Santander Chile, an estimated $94M trimmed.
- Harding Loevner's largest Q3 2018 buy was iShares MSCI EAFE Growth ETF: 1,226 shares worth $98K.
- Harding Loevner added most to Ambev in Q3 2018, an estimated $297M increase.
- Harding Loevner's biggest Q3 2018 reduction was Banco Santander Chile, cutting an estimated $94M.
- Harding Loevner fully exited NetEase in Q3 2018, selling an estimated $42.7M.
- Harding Loevner's ten largest holdings make up 41% of its $19.2B portfolio in Q3 2018.
- Harding Loevner opened 3 new positions and closed 6 in Q3 2018.
- Harding Loevner's portfolio value rose 7.8% quarter-over-quarter to $19.2B.
Based on Harding Loevner's 13F filing for Q3 2018, filed 14 Nov 2018.