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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
+9.85%
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
$27.7B
AUM Growth
+$6.83B
Cap. Flow
+$4.52B
Cap. Flow %
16.29%
Top 10 Hldgs %
32.19%
Holding
190
New
40
Increased
41
Reduced
54
Closed
12

Top Buys

Rank Stock Value
1
IFX
INFINEON TECH AG ADS(REP1 ORD)
IFX
+$374M
2
CME icon
CME Group
CME
+$267M
3
DASTY
DASSAULT SYSTEMES SA ADR
DASTY
+$245M
4
ETSY icon
Etsy
ETSY
+$210M
5
TW icon
Tradeweb Markets
TW
+$173M

Top Sells

Rank Stock Value
1
BABA icon
Alibaba
BABA
+$803M
2
TSM icon
TSMC
TSM
+$458M
3
NBIS
Nebius Group N.V.
NBIS
+$373M
4
TTD icon
Trade Desk
TTD
+$276M
5
NTES icon
NetEase
NTES
+$159M

Sector Composition

Rank Sector Weight
1 Technology 23.2%
2 Financials 15.99%
3 Consumer Discretionary 9.19%
4 Communication Services 8.07%
5 Healthcare 6.6%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AMZN icon
26
Amazon
AMZN
$2.96T
$304M 1.09%
1,927,980
-14,820
-0.8% -$2.34M
MSFT icon
27
Microsoft
MSFT
$3.71T
$292M 1.05%
1,390,286
+24,024
+2% +$5.05M
TMO icon
28
Thermo Fisher Scientific
TMO
$220B
$275M 0.99%
622,598
+26,788
+4% +$11.1M
CME icon
29
CME Group
CME
$94.8B
$265M 0.96%
+1,585,951
New +$267M
TCOM icon
30
Trip.com Group
TCOM
$29.1B
$254M 0.92%
8,148,527
-591,847
-7% -$16.8M
NVDA icon
31
NVIDIA
NVDA
$5.42T
$248M 0.89%
18,330,400
+324,160
+2% +$3.77M
DASTY
32
DELISTED
DASSAULT SYSTEMES SA ADR
DASTY
$245M 0.89%
+1,309,646
New +$245M
DE icon
33
Deere & Co
DE
$168B
$245M 0.88%
1,105,173
-30,357
-3% -$5.86M
ABT icon
34
Abbott
ABT
$187B
$240M 0.86%
2,202,469
-35,325
-2% -$3.58M
CRM icon
35
Salesforce
CRM
$158B
$239M 0.86%
950,474
+16,418
+2% +$3.59M
SNPS icon
36
Synopsys
SNPS
$79.7B
$230M 0.83%
1,076,441
+19,798
+2% +$4.03M
ETSY icon
37
Etsy
ETSY
$7.85B
$218M 0.79%
+1,793,042
New +$210M
ALGN icon
38
Align Technology
ALGN
$12.3B
$214M 0.77%
654,337
+14,059
+2% +$4.29M
PRLB icon
39
Protolabs
PRLB
$2.13B
$203M 0.73%
1,566,558
+29,479
+2% +$3.88M
WDAY icon
40
Workday
WDAY
$44.4B
$190M 0.69%
885,239
+16,256
+2% +$3.22M
EL icon
41
Estee Lauder
EL
$32B
$189M 0.68%
864,979
+46,708
+6% +$9.61M
TW icon
42
Tradeweb Markets
TW
$21.6B
$183M 0.66%
+3,150,160
New +$173M
SIVB
43
DELISTED
SVB Financial Group
SIVB
$181M 0.65%
750,937
+12,283
+2% +$2.89M
EBAY icon
44
eBay
EBAY
$49.8B
$180M 0.65%
3,458,582
+38,735
+1% +$2.13M
XOM icon
45
ExxonMobil
XOM
$634B
$179M 0.64%
5,208,109
-354,221
-6% -$14.5M
RIO icon
46
Rio Tinto
RIO
$164B
$169M 0.61%
2,799,026
-24,490
-0.9% -$1.5M
BBD icon
47
Banco Bradesco
BBD
$36.7B
$166M 0.6%
58,436,626
-4,637,095
-7% -$15.2M
DIS icon
48
Walt Disney
DIS
$181B
$163M 0.59%
1,315,005
+21,921
+2% +$2.74M
UL icon
49
Unilever
UL
$136B
$163M 0.59%
2,342,980
-21,988
-0.9% -$1.47M
VFC icon
50
VF Corp
VFC
$5.89B
$162M 0.59%
+2,311,592
New +$149M
1
2
3 4 5

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FCM
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CCM
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URS
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MPI
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TIM
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SC
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TCA
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Harding Loevner's Q3 2020 Portfolio in Review

As of Q3 2020, Harding Loevner held 190 positions worth $27.7B, up 33% from $20.9B the previous quarter. Its ten largest holdings account for 32% of the portfolio.

Harding Loevner deployed $4.52B of net new capital in Q3 2020, opening 40 new positions and adding to 41 existing holdings. Its largest new stake was INFINEON TECH AG ADS(REP1 ORD): 13,249,533 shares worth $374M.

By sector, the portfolio is most concentrated in Technology at 23% of assets, down from 26% a quarter earlier, followed by Financials and Consumer Discretionary.

On the sell side, the largest reduction was Alibaba, an estimated $803M trimmed.

  • Harding Loevner's largest Q3 2020 buy was INFINEON TECH AG ADS(REP1 ORD): 13,249,533 shares worth $374M.
  • Harding Loevner added most to Illumina in Q3 2020, an estimated $114M increase.
  • Harding Loevner's biggest Q3 2020 reduction was Alibaba, cutting an estimated $803M.
  • Harding Loevner fully exited iShares MSCI ACWI ex US ETF in Q3 2020, selling an estimated $2.21M.
  • Harding Loevner's ten largest holdings make up 32% of its $27.7B portfolio in Q3 2020.
  • Harding Loevner opened 40 new positions and closed 12 in Q3 2020.
  • Harding Loevner's portfolio value rose 33% quarter-over-quarter to $27.7B.

Based on Harding Loevner's 13F filing for Q3 2020, filed 16 Nov 2020.