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HL

Harding Loevner Portfolio holdings

AUM $10.6B
1-Year Est. Return 19.39%
This Fund
S&P 500
This Quarter Est. Return
+21.57%
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
$24.2B
AUM Growth
-$3.55B
Cap. Flow
-$7.17B
Cap. Flow %
-29.67%
Top 10 Hldgs %
38.91%
Holding
185
New
7
Increased
34
Reduced
57
Closed
38
Avg Time Held
13.8 quarters
Top 10 Avg Time Held
7.9 quarters
Top 20 Avg Time Held
9.4 quarters

Top Buys

Rank Stock Value
1
BHP icon
BHP
BHP
+$267M
2
EW icon
Edwards Lifesciences
EW
+$199M
3
ISRG icon
Intuitive Surgical
ISRG
+$198M
4
EDU icon
New Oriental
EDU
+$90.8M
5
AMZN icon
Amazon
AMZN
+$63.5M

Top Sells

Rank Stock Value
1
IFX
INFINEON TECH AG ADS(REP1 ORD)
IFX
+$374M
2
ROP icon
Roper Technologies
ROP
+$299M
3
CHL
China Mobile Limited
CHL
+$298M
4
DASTY
DASSAULT SYSTEMES SA ADR
DASTY
+$245M
5
ABT icon
Abbott
ABT
+$239M

Sector Composition

Rank Sector Weight
1 Financials 26.48%
2 Technology 25.27%
3 Communication Services 10.11%
4 Consumer Discretionary 9.99%
5 Healthcare 8.79%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
CME icon
26
CME Group
CME
$101B
$321M 1.33%
1,763,326
+177,375
+11% +$30.2M
2020 Q3
1 quarter
BHP icon
27
BHP
BHP
$220B
$311M 1.29%
+5,333,251
New +$267M
2020 Q4
0 quarters
DE icon
28
Deere & Co
DE
$167B
$310M 1.28%
1,151,651
+46,478
+4% +$11.5M
2017 Q2
14 quarters
VRSK icon
29
Verisk Analytics
VRSK
$23.1B
$296M 1.23%
1,427,845
-667,905
-32% -$130M
2014 Q4
24 quarters
TMO icon
30
Thermo Fisher Scientific
TMO
$243B
$295M 1.22%
633,634
+11,036
+2% +$5.17M
2017 Q2
14 quarters
CNI icon
31
Canadian National Railway
CNI
$71.2B
$290M 1.2%
2,636,286
-790,792
-23% -$85.4M
2013 Q2
30 quarters
SNPS icon
32
Synopsys
SNPS
$97.7B
$284M 1.18%
1,095,643
+19,202
+2% +$4.43M
2018 Q4
8 quarters
BBD icon
33
Banco Bradesco
BBD
$45.5B
$252M 1.04%
58,054,803
-381,823
-0.7% -$1.4M
2013 Q2
30 quarters
NVDA icon
34
NVIDIA
NVDA
$5.54T
$244M 1.01%
18,652,400
+322,000
+2% +$4.31M
2017 Q4
12 quarters
DIS icon
35
Walt Disney
DIS
$187B
$242M 1%
1,336,587
+21,582
+2% +$3.1M
2017 Q2
14 quarters
EDU icon
36
New Oriental
EDU
$9.09B
$241M 1%
1,299,366
+539,734
+71% +$90.8M
2017 Q4
12 quarters
TCOM icon
37
Trip.com Group
TCOM
$24.5B
$232M 0.96%
6,878,456
-1,270,071
-16% -$41.4M
2013 Q3
29 quarters
XOM icon
38
ExxonMobil
XOM
$695B
$231M 0.95%
5,593,321
+385,212
+7% +$14.4M
2013 Q2
30 quarters
PRLB icon
39
Protolabs
PRLB
$2.24B
$227M 0.94%
1,482,144
-84,414
-5% -$11.9M
2019 Q3
5 quarters
EL icon
40
Estee Lauder
EL
$35.5B
$226M 0.94%
849,672
-15,307
-2% -$3.68M
2020 Q1
3 quarters
BIDU icon
41
Baidu
BIDU
$29B
$220M 0.91%
1,016,439
-17,396
-2% -$2.58M
2013 Q2
30 quarters
EW icon
42
Edwards Lifesciences
EW
$49.1B
$219M 0.91%
2,405,563
+2,404,717
+284,246% +$199M
2020 Q2
2 quarters
ISRG icon
43
Intuitive Surgical
ISRG
$150B
$218M 0.9%
+798,666
New +$198M
2020 Q4
0 quarters
WDAY icon
44
Workday
WDAY
$45B
$216M 0.89%
900,460
+15,221
+2% +$3.42M
2017 Q2
14 quarters
CRM icon
45
Salesforce
CRM
$189B
$215M 0.89%
967,222
+16,748
+2% +$4.07M
2017 Q2
14 quarters
VFC icon
46
VF Corp
VFC
$5.9B
$210M 0.87%
2,454,005
+142,413
+6% +$11.4M
2020 Q3
1 quarter
RIO icon
47
Rio Tinto
RIO
$154B
$208M 0.86%
2,755,692
-43,334
-2% -$2.85M
2019 Q2
6 quarters
TW icon
48
Tradeweb Markets
TW
$23.4B
$200M 0.83%
3,204,697
+54,537
+2% +$3.3M
2020 Q3
1 quarter
EBAY icon
49
eBay
EBAY
$49.9B
$194M 0.8%
3,850,906
+392,324
+11% +$20M
2017 Q2
14 quarters
ROP icon
50
Roper Technologies
ROP
$36B
$187M 0.77%
434,355
-727,467
-63% -$299M
2013 Q2
30 quarters
1
2
3 4 5

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FMI
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VAS
Vestmark Advisory Solutions Wakefield, Massachusetts $10.6B AUM 25.02% 1-Year Est. Return
DPIM
Duff & Phelps Investment Management Chicago, Illinois $10.6B AUM 18.62% 1-Year Est. Return
CA
Clearstead Advisors Cleveland, Ohio $10.6B AUM 24.87% 1-Year Est. Return
SCM
SCS Capital Management Boston, Massachusetts $10.6B AUM 19.73% 1-Year Est. Return
FCM
Frontier Capital Management Boston, Massachusetts $10.7B AUM 67.78% 1-Year Est. Return
URS
Utah Retirement Systems Salt Lake City, Utah $10.5B AUM 42.22% 1-Year Est. Return
AAM
Alphadyne Asset Management New York $10.5B AUM 37.62% 1-Year Est. Return

Harding Loevner's Q4 2020 Portfolio in Review

As of Q4 2020, Harding Loevner held 185 positions worth $24.2B, down 13% from $27.7B the previous quarter. Its ten largest holdings account for 39% of the portfolio.

Harding Loevner withdrew a net $7.17B in Q4 2020, closing 38 positions and reducing 57 holdings. Its most notable exit was INFINEON TECH AG ADS(REP1 ORD), an estimated $374M position sold in full.

By sector, the portfolio is most concentrated in Financials at 26% of assets, up from 17% a quarter earlier, followed by Technology and Communication Services.

Against the trend, Harding Loevner opened a new position in BHP worth $311M.

  • Harding Loevner's largest Q4 2020 buy was BHP: 5,333,251 shares worth $311M.
  • Harding Loevner added most to Edwards Lifesciences in Q4 2020, an estimated $199M increase.
  • Harding Loevner's biggest Q4 2020 reduction was Roper Technologies, cutting an estimated $299M.
  • Harding Loevner fully exited INFINEON TECH AG ADS(REP1 ORD) in Q4 2020, selling an estimated $374M.
  • Harding Loevner's ten largest holdings make up 39% of its $24.2B portfolio in Q4 2020.
  • Harding Loevner opened 7 new positions and closed 38 in Q4 2020.
  • Harding Loevner's portfolio value fell 13% quarter-over-quarter to $24.2B.

Based on Harding Loevner's 13F filing for Q4 2020, filed 16 Feb 2021.