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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
TSM icon
1
TSMC
TSM
$2.18T
$1.02B 5.67%
21,279,224
-880,848
-4% -$48.2M
BABA icon
2
Alibaba
BABA
$308B
$982M 5.48%
5,048,622
-570,748
-10% -$119M
SAP icon
3
SAP
SAP
$238B
$866M 4.83%
7,833,740
-108,731
-1% -$13.7M
BIDU icon
4
Baidu
BIDU
$37.2B
$862M 4.81%
8,553,871
+984,182
+13% +$120M
NBIS
5
Nebius Group N.V.
NBIS
$47.7B
$680M 3.79%
19,958,746
+3,492,565
+21% +$144M
PYPL icon
6
PayPal
PYPL
$50.5B
$539M 3.01%
5,626,815
-77,682
-1% -$8.58M
CHKP icon
7
Check Point Software Technologies
CHKP
$13.1B
$492M 2.75%
4,893,550
-2,542,032
-34% -$272M
CNI icon
8
Canadian National Railway
CNI
$76.6B
$492M 2.74%
6,334,719
-87,472
-1% -$7.63M
VRTX icon
9
Vertex Pharmaceuticals
VRTX
$126B
$487M 2.72%
2,047,274
-44,382
-2% -$10.2M
HDB icon
10
HDFC Bank
HDB
$121B
$474M 2.65%
24,658,106
+6,983,008
+40% +$188M
ABEV icon
11
Ambev
ABEV
$46.4B
$469M 2.62%
204,124,193
+60,939,726
+43% +$220M
IBN icon
12
ICICI Bank
IBN
$108B
$444M 2.48%
52,291,688
-593,487
-1% -$7.86M
ITUB icon
13
Itaú Unibanco
ITUB
$87.5B
$435M 2.42%
132,999,547
+20,048,975
+18% +$103M
FMX icon
14
Fomento Económico Mexicano
FMX
$41.7B
$416M 2.32%
6,869,967
+1,203,756
+21% +$102M
GOOGL icon
15
Alphabet (Google) Class A
GOOGL
$4.33T
$389M 2.17%
6,696,740
-19,240
-0.3% -$1.3M
CHL
16
DELISTED
China Mobile Limited
CHL
$377M 2.1%
10,011,764
+492,522
+5% +$19.8M
EPAM icon
17
EPAM Systems
EPAM
$5.03B
$360M 2.01%
1,941,241
+512,673
+36% +$111M
ROP icon
18
Roper Technologies
ROP
$39.8B
$360M 2.01%
1,153,011
-9,891
-0.9% -$3.5M
VRSK icon
19
Verisk Analytics
VRSK
$25B
$326M 1.82%
2,337,180
-7,846
-0.3% -$1.23M
ILMN icon
20
Illumina
ILMN
$28.4B
$316M 1.77%
1,190,798
+749,970
+170% +$210M
FRC
21
DELISTED
First Republic Bank
FRC
$312M 1.74%
3,795,528
-14,094
-0.4% -$1.49M
MA icon
22
Mastercard
MA
$493B
$311M 1.74%
1,289,284
-18,469
-1% -$5.49M
META icon
23
Meta Platforms (Facebook)
META
$1.51T
$310M 1.73%
1,859,056
+936,944
+102% +$183M
AAPL icon
24
Apple
AAPL
$4.57T
$301M 1.68%
4,740,940
-116,060
-2% -$8.54M
NVDA icon
25
NVIDIA
NVDA
$5.42T
$290M 1.62%
44,021,680
-655,840
-1% -$4.14M
1
2 3 4 5

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FCM
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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
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TIM
Thornburg Investment Management Santa Fe, New Mexico $9.63B AUM 35.65% 1-Year Est. Return
SC
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TCA
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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.