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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
+1.51%
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
$21.8B
AUM Growth
+$490M
(+2.3%)
Cap. Flow
+$439M
Cap. Flow
% of AUM
2.02%
Top 10 Holdings %
Top 10 Hldgs %
37.41%
Holding
142
New
10
Increased
31
Reduced
51
Closed
7
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
SLB Ltd
SLB
|
+$193M |
| 2 |
Meta Platforms (Facebook)
META
|
+$183M |
| 3 |
Autohome
ATHM
|
+$172M |
| 4 |
NetEase
NTES
|
+$138M |
| 5 |
Rio Tinto
RIO
|
+$91.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
WBC
WABCO HOLDINGS INC.
WBC
|
+$227M |
| 2 |
EPAM Systems
EPAM
|
+$97M |
| 3 |
Televisa
TV
|
+$85.5M |
| 4 |
Trip.com Group
TCOM
|
+$44.5M |
| 5 |
JOBS
51job Inc
JOBS
|
+$34.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 22.84% |
| 2 | Financials | 21.01% |
| 3 | Communication Services | 11.07% |
| 4 | Consumer Discretionary | 10.38% |
| 5 | Consumer Staples | 7.83% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
SAP
SAP
$238B
| $1.1B | 5.04% |
8,016,725
+444,302
| +6% | +$55.3M |
|
2
Check Point Software Technologies
CHKP
$13.1B
| $1B | 4.61% |
8,674,383
+7,041
| +0.1% | +$831K |
|
3
Alibaba
BABA
$308B
| $962M | 4.42% |
5,676,524
+499,839
| +10% | +$86.3M |
|
4
TSMC
TSM
$2.18T
| $951M | 4.37% |
24,288,508
+637,343
| +3% | +$26.2M |
|
5
Itaú Unibanco
ITUB
$87.5B
| $798M | 3.67% |
116,495,931
+780,072
| +0.7% | +$4.91M |
|
6
PayPal
PYPL
$50.5B
| $736M | 3.38% |
6,430,583
-175,512
| -3% | -$19.5M |
|
7
ICICI Bank
IBN
$108B
| $703M | 3.23% |
55,849,328
-535,820
| -1% | -$6.21M |
|
|
NBIS
8
Nebius Group N.V.
NBIS
$47.7B
| $658M | 3.02% |
17,313,957
-36,423
| -0.2% | -$1.35M |
|
|
9
SLB Ltd
SLB
$75B
| $619M | 2.84% |
15,573,203
+4,789,846
| +44% | +$193M |
|
10
Ambev
ABEV
$46.4B
| $618M | 2.84% |
132,281,838
+3,056,745
| +2% | +$13.7M |
|
11
Baidu
BIDU
$37.2B
| $605M | 2.78% |
5,153,211
-138,414
| -3% | -$19.7M |
|
12
Canadian National Railway
CNI
$76.6B
| $597M | 2.74% |
6,460,727
-188
| -0% | -$17.3K |
|
13
HDFC Bank
HDB
$121B
| $597M | 2.74% |
18,367,184
-92,764
| -0.5% | -$2.8M |
|
14
Roper Technologies
ROP
$39.8B
| $585M | 2.69% |
1,597,982
-25,989
| -2% | -$9.22M |
|
15
Fomento Económico Mexicano
FMX
$41.7B
| $550M | 2.52% |
5,680,187
+550,564
| +11% | +$53.3M |
|
16
Verisk Analytics
VRSK
$25B
| $464M | 2.13% |
3,168,546
-51,145
| -2% | -$7.21M |
|
|
CHL
17
DELISTED
China Mobile Limited
CHL
| $450M | 2.07% |
9,946,104
-132,269
| -1% | -$6.15M |
|
18
Booking.com
BKNG
$161B
| $437M | 2.01% |
5,825,925
-86,900
| -1% | -$6.24M |
|
|
FRC
19
DELISTED
First Republic Bank
FRC
| $412M | 1.89% |
4,221,224
-60,553
| -1% | -$6.1M |
|
20
Alphabet (Google) Class A
GOOGL
$4.33T
| $402M | 1.85% |
7,421,680
-116,100
| -2% | -$6.72M |
|
21
Mastercard
MA
$493B
| $378M | 1.74% |
1,429,264
-30,381
| -2% | -$7.6M |
|
|
GRFS
22
Grifois
GRFS
$5.4B
| $366M | 1.68% |
17,333,270
-391,022
| -2% | -$7.46M |
|
23
Banco Bradesco
BBD
$36.7B
| $347M | 1.59% |
47,005,893
+6,059,852
| +15% | +$41.4M |
|
24
Nike
NKE
$61.9B
| $274M | 1.26% |
3,261,932
-47,432
| -1% | -$3.99M |
|
25
Apple
AAPL
$4.57T
| $269M | 1.23% |
5,433,212
-48,380
| -0.9% | -$2.36M |
|
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Harding Loevner's Q2 2019 Portfolio in Review
As of Q2 2019, Harding Loevner held 142 positions worth $21.8B, up 2.3% from $21.3B the previous quarter. Its ten largest holdings account for 37% of the portfolio.
Harding Loevner's Q2 2019 filing shows 10 new, 31 increased, 51 reduced and 7 closed positions. Its largest new stake was Autohome: 1,725,458 shares worth $148M. The largest sale was WABCO HOLDINGS INC., an estimated $227M.
By sector, the portfolio is most concentrated in Technology at 23% of assets, down from 23% a quarter earlier, followed by Financials and Communication Services.
- Harding Loevner's largest Q2 2019 buy was Autohome: 1,725,458 shares worth $148M.
- Harding Loevner added most to SLB Ltd in Q2 2019, an estimated $193M increase.
- Harding Loevner's biggest Q2 2019 reduction was EPAM Systems, cutting an estimated $97M.
- Harding Loevner fully exited WABCO HOLDINGS INC. in Q2 2019, selling an estimated $227M.
- Harding Loevner's ten largest holdings make up 37% of its $21.8B portfolio in Q2 2019.
- Harding Loevner opened 10 new positions and closed 7 in Q2 2019.
- Harding Loevner's portfolio value rose 2.3% quarter-over-quarter to $21.8B.
Based on Harding Loevner's 13F filing for Q2 2019, filed 14 Aug 2019.