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Harding Loevner

Harding Loevner Portfolio holdings

AUM $10.6B Turnover 21.84%
1-Year Est. Return 19.39%
This Fund
S&P 500
This Quarter Est. Return
+12.56%
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
$10.6B
AUM Growth
+$916M
Cap. Flow
-$174M
Cap. Flow %
-1.64%
Top 10 Hldgs %
51.87%
Holding
87
New
14
Increased
9
Reduced
59
Closed
5
Avg Time Held
4.5 years
Top 10 Avg Time Held
2.4 years
Top 20 Avg Time Held
2.5 years

Top Buys

Rank Stock Value
1
SPOT icon
Spotify
SPOT
+$762M
2
CNI icon
Canadian National Railway
CNI
+$290M
3
SE icon
Sea Limited
SE
+$161M
4
AAPL icon
Apple
AAPL
+$74.4M
5
ITUB icon
Itaú Unibanco
ITUB
+$72.2M

Top Sells

Rank Stock Value
1
TSM icon
TSMC
TSM
+$250M
2
VRTX icon
Vertex Pharmaceuticals
VRTX
+$138M
3
VEU icon
Vanguard FTSE All-World ex-US ETF
VEU
+$108M
4
CME icon
CME Group
CME
+$100M
5
ASML icon
ASML
ASML
+$97.8M

Sector Composition

Rank Sector Weight
1 Technology 26.41%
2 Financials 16.82%
3 Communication Services 14.66%
4 Industrials 14.26%
5 Consumer Discretionary 8.52%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
TSM icon
1
TSMC
TSM
$2.14T
$1.35B 12.68%
2,884,195
-616,874
-18% -$250M
2013 Q2
52 quarters
SPOT icon
2
Spotify
SPOT
$109B
$742M 6.97%
+1,598,173
New +$762M
2026 Q2
0 quarters
FMX icon
3
Fomento Económico Mexicano
FMX
$43.1B
$689M 6.48%
5,383,731
-175,025
-3% -$21.1M
2013 Q2
52 quarters
CNI icon
4
Canadian National Railway
CNI
$73.6B
$648M 6.1%
5,390,831
+2,549,371
+90% +$290M
2013 Q2
52 quarters
BAP icon
5
Credicorp
BAP
$31B
$500M 4.7%
1,278,788
-46,731
-4% -$16M
2021 Q4
18 quarters
RYAAY icon
6
Ryanair
RYAAY
$27.2B
$381M 3.59%
5,951,510
-238,842
-4% -$14.1M
2025 Q2
4 quarters
MELI icon
7
Mercado Libre
MELI
$93B
$318M 2.99%
184,269
-2,230
-1% -$3.81M
2024 Q1
9 quarters
SE icon
8
Sea Limited
SE
$57.4B
$311M 2.92%
3,198,265
+1,830,157
+134% +$161M
2025 Q3
3 quarters
NTES icon
9
NetEase
NTES
$80.7B
$291M 2.74%
2,258,205
-65,563
-3% -$7.74M
2025 Q1
5 quarters
HDB icon
10
HDFC Bank
HDB
$123B
$287M 2.7%
11,208,475
-3,649,082
-25% -$91.4M
2016 Q4
38 quarters
ASML icon
11
ASML
ASML
$633B
$282M 2.65%
154,841
-61,468
-28% -$97.8M
2025 Q1
5 quarters
SHEL icon
12
Shell
SHEL
$303B
$237M 2.23%
2,810,624
-54,804
-2% -$4.73M
2022 Q1
17 quarters
MFC icon
13
Manulife Financial
MFC
$73.4B
$237M 2.23%
5,575,714
+1,096,013
+24% +$42.4M
2021 Q4
18 quarters
NICE icon
14
Nice
NICE
$6.57B
$234M 2.2%
2,523,392
-9,854
-0.4% -$956K
2025 Q3
3 quarters
GOOGL icon
15
Alphabet (Google) Class A
GOOGL
$4.17T
$232M 2.18%
649,331
-258,974
-29% -$93.2M
2015 Q4
42 quarters
NVDA icon
16
NVIDIA
NVDA
$5.17T
$225M 2.12%
1,125,966
-145,750
-11% -$30M
2024 Q4
6 quarters
BBVA icon
17
Banco Bilbao Vizcaya Argentaria
BBVA
$141B
$222M 2.09%
8,391,515
+1,996,006
+31% +$45.5M
2013 Q2
52 quarters
AMZN icon
18
Amazon
AMZN
$2.7T
$207M 1.95%
870,587
-253,310
-23% -$63.6M
2020 Q2
24 quarters
RIO icon
19
Rio Tinto
RIO
$147B
$186M 1.75%
1,941,326
-29,901
-2% -$3.03M
2019 Q2
28 quarters
HLN icon
20
Haleon
HLN
$44.5B
$148M 1.39%
15,414,796
-297,754
-2% -$2.77M
2023 Q1
13 quarters
SONY icon
21
Sony
SONY
$145B
$140M 1.31%
6,468,686
-168,021
-3% -$3.54M
2023 Q2
12 quarters
MSFT icon
22
Microsoft
MSFT
$3.93T
$138M 1.29%
368,533
-172,031
-32% -$69.6M
2013 Q2
52 quarters
META icon
23
Meta Platforms (Facebook)
META
$1.81T
$134M 1.26%
237,407
-60,302
-20% -$36.9M
2015 Q1
45 quarters
APH icon
24
Amphenol
APH
$196B
$125M 1.18%
1,418,564
-366,864
-21% -$26.4M
2025 Q1
5 quarters
RGA icon
25
Reinsurance Group of America
RGA
$17.4B
$116M 1.09%
547,439
-149,358
-21% -$31.2M
2026 Q1
1 quarter
1
2 3 4

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Harding Loevner's Q2 2026 Portfolio in Review

As of Q2 2026, Harding Loevner held 87 positions worth $10.6B, up 9.4% from $9.7B the previous quarter. Its ten largest holdings account for 52% of the portfolio.

Harding Loevner's Q2 2026 filing shows 14 new, 9 increased, 59 reduced and 5 closed positions. Its largest new stake was Spotify: 1,598,173 shares worth $742M. The largest sale was TSMC, an estimated $250M.

By sector, the portfolio is most concentrated in Technology at 26% of assets, down from 29% a quarter earlier, followed by Financials and Communication Services.

  • Harding Loevner's largest Q2 2026 buy was Spotify: 1,598,173 shares worth $742M.
  • Harding Loevner added most to Canadian National Railway in Q2 2026, an estimated $290M increase.
  • Harding Loevner's biggest Q2 2026 reduction was TSMC, cutting an estimated $250M.
  • Harding Loevner fully exited CME Group in Q2 2026, selling an estimated $100M.
  • Harding Loevner's ten largest holdings make up 52% of its $10.6B portfolio in Q2 2026.
  • Harding Loevner opened 14 new positions and closed 5 in Q2 2026.
  • Harding Loevner's portfolio value rose 9.4% quarter-over-quarter to $10.6B.

Based on Harding Loevner's 13F filing for Q2 2026, filed 14 Aug 2026.