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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
-1.52%
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
$25.1B
AUM Growth
-$1.52B
Cap. Flow
-$838M
Cap. Flow %
-3.35%
Top 10 Hldgs %
33.33%
Holding
164
New
7
Increased
19
Reduced
72
Closed
17

Top Buys

Rank Stock Value
1
NFLX icon
Netflix
NFLX
+$227M
2
CSGP icon
CoStar Group
CSGP
+$220M
3
AMAT icon
Applied Materials
AMAT
+$217M
4
BIDU icon
Baidu
BIDU
+$202M
5
PINS icon
Pinterest
PINS
+$118M

Top Sells

Rank Stock Value
1
EPAM icon
EPAM Systems
EPAM
+$291M
2
EL icon
Estee Lauder
EL
+$249M
3
VFC icon
VF Corp
VFC
+$188M
4
SIVB
SVB Financial Group
SIVB
+$144M
5
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$131M

Sector Composition

Rank Sector Weight
1 Technology 25.34%
2 Financials 18.07%
3 Communication Services 12.68%
4 Healthcare 11.87%
5 Consumer Discretionary 8.65%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TMO icon
26
Thermo Fisher Scientific
TMO
$220B
$381M 1.52%
666,657
-2,306
-0.3% -$1.27M
EBAY icon
27
eBay
EBAY
$49.8B
$355M 1.42%
5,090,050
-184,605
-3% -$13.2M
VRTX icon
28
Vertex Pharmaceuticals
VRTX
$126B
$347M 1.38%
1,911,103
-87,975
-4% -$17.2M
ASML icon
29
ASML
ASML
$669B
$326M 1.3%
437,414
-13,823
-3% -$10.9M
DHR icon
30
Danaher
DHR
$144B
$317M 1.27%
1,175,311
-31,626
-3% -$8.61M
SNPS icon
31
Synopsys
SNPS
$79.7B
$299M 1.19%
999,457
-36,929
-4% -$11.2M
CME icon
32
CME Group
CME
$94.8B
$281M 1.12%
1,453,698
-82,725
-5% -$16.8M
SLB icon
33
SLB Ltd
SLB
$75B
$270M 1.08%
9,101,416
-46,823
-0.5% -$1.34M
NFLX icon
34
Netflix
NFLX
$309B
$251M 1%
+4,117,160
New +$227M
EW icon
35
Edwards Lifesciences
EW
$51.7B
$243M 0.97%
2,150,240
-78,314
-4% -$8.94M
NVDA icon
36
NVIDIA
NVDA
$5.42T
$241M 0.96%
11,652,220
-5,935,140
-34% -$123M
ISRG icon
37
Intuitive Surgical
ISRG
$134B
$241M 0.96%
728,340
-27,099
-4% -$9.1M
CRM icon
38
Salesforce
CRM
$158B
$241M 0.96%
888,491
-34,688
-4% -$8.81M
TW icon
39
Tradeweb Markets
TW
$21.6B
$240M 0.96%
2,975,210
-60,479
-2% -$5.22M
ETSY icon
40
Etsy
ETSY
$7.85B
$234M 0.93%
1,123,531
-41,449
-4% -$8.4M
AAPL icon
41
Apple
AAPL
$4.57T
$229M 0.91%
1,615,412
-55,709
-3% -$8.2M
UNH icon
42
UnitedHealth
UNH
$370B
$228M 0.91%
584,262
-20,908
-3% -$8.66M
CSGP icon
43
CoStar Group
CSGP
$12.3B
$219M 0.87%
2,546,204
+2,545,984
+1,157,265% +$220M
WDAY icon
44
Workday
WDAY
$44.4B
$206M 0.82%
826,121
-32,347
-4% -$8.01M
AMAT icon
45
Applied Materials
AMAT
$428B
$205M 0.82%
+1,595,395
New +$217M
DIS icon
46
Walt Disney
DIS
$181B
$204M 0.81%
1,204,761
-45,912
-4% -$8.18M
TTD icon
47
Trade Desk
TTD
$6.49B
$200M 0.8%
2,848,562
-136,313
-5% -$10.5M
PINS icon
48
Pinterest
PINS
$13.4B
$199M 0.8%
3,910,457
+1,920,130
+96% +$118M
IQV icon
49
IQVIA
IQV
$39.3B
$193M 0.77%
807,596
-27,394
-3% -$6.91M
AME icon
50
Ametek
AME
$58.2B
$191M 0.76%
1,544,113
-57,629
-4% -$7.74M
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 2021 Portfolio in Review

As of Q3 2021, Harding Loevner held 164 positions worth $25.1B, down 5.7% from $26.6B the previous quarter. Its ten largest holdings account for 33% of the portfolio.

Harding Loevner withdrew a net $838M in Q3 2021, closing 17 positions and reducing 72 holdings. Its most notable exit was Estee Lauder, an estimated $249M position sold in full.

By sector, the portfolio is most concentrated in Technology at 25% of assets, up from 25% a quarter earlier, followed by Financials and Communication Services.

Against the trend, Harding Loevner opened a new position in Netflix worth $251M.

  • Harding Loevner's largest Q3 2021 buy was Netflix: 4,117,160 shares worth $251M.
  • Harding Loevner added most to CoStar Group in Q3 2021, an estimated $220M increase.
  • Harding Loevner's biggest Q3 2021 reduction was EPAM Systems, cutting an estimated $291M.
  • Harding Loevner fully exited Estee Lauder in Q3 2021, selling an estimated $249M.
  • Harding Loevner's ten largest holdings make up 33% of its $25.1B portfolio in Q3 2021.
  • Harding Loevner opened 7 new positions and closed 17 in Q3 2021.
  • Harding Loevner's portfolio value fell 5.7% quarter-over-quarter to $25.1B.

Based on Harding Loevner's 13F filing for Q3 2021, filed 15 Nov 2021.