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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
+12.11%
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
$17.6B
AUM Growth
+$212M
Cap. Flow
-$1.39B
Cap. Flow %
-7.94%
Top 10 Hldgs %
38.38%
Holding
85
New
3
Increased
21
Reduced
49
Closed
11

Top Buys

Rank Stock Value
1
LIN icon
Linde
LIN
+$217M
2
ABBV icon
AbbVie
ABBV
+$154M
3
NOC icon
Northrop Grumman
NOC
+$121M
4
CME icon
CME Group
CME
+$113M
5
BAP icon
Credicorp
BAP
+$86.7M

Top Sells

Rank Stock Value
1
FRC
First Republic Bank
FRC
+$400M
2
IBN icon
ICICI Bank
IBN
+$299M
3
SIVB
SVB Financial Group
SIVB
+$273M
4
HDB icon
HDFC Bank
HDB
+$200M
5
LULU icon
lululemon athletica
LULU
+$180M

Sector Composition

Rank Sector Weight
1 Technology 25.82%
2 Healthcare 17.95%
3 Financials 14.14%
4 Industrials 9.73%
5 Communication Services 9.33%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CRM icon
26
Salesforce
CRM
$213B
$255M 1.45%
1,276,467
-5,542
-0.4% -$936K
ILMN icon
27
Illumina
ILMN
$33B
$253M 1.44%
1,120,397
-5,771
-0.5% -$1.18M
SLB icon
28
SLB Ltd
SLB
$85.3B
$249M 1.42%
5,064,711
-37,218
-0.7% -$1.98M
NFLX icon
29
Netflix
NFLX
$326B
$223M 1.27%
6,466,340
+2,470,360
+62% +$81.8M
AVGO icon
30
Broadcom
AVGO
$1.7T
$218M 1.24%
3,401,340
-30,020
-0.9% -$1.81M
TW icon
31
Tradeweb Markets
TW
$22.4B
$218M 1.24%
2,758,487
-20,552
-0.7% -$1.49M
COST icon
32
Costco
COST
$406B
$203M 1.16%
408,573
+127,905
+46% +$62.7M
ADBE icon
33
Adobe
ADBE
$106B
$200M 1.14%
518,821
-3,873
-0.7% -$1.38M
AAPL icon
34
Apple
AAPL
$4.67T
$198M 1.13%
1,200,745
-308,294
-20% -$45.5M
PINS icon
35
Pinterest
PINS
$11.6B
$197M 1.12%
7,218,560
-52,621
-0.7% -$1.36M
DHR icon
36
Danaher
DHR
$146B
$194M 1.1%
867,135
-6,599
-0.8% -$1.5M
NVDA icon
37
NVIDIA
NVDA
$5.56T
$191M 1.09%
6,875,170
-254,010
-4% -$5.5M
ABCM
38
DELISTED
Abcam PLC
ABCM
$185M 1.05%
13,741,172
-64,416
-0.5% -$961K
ISRG icon
39
Intuitive Surgical
ISRG
$130B
$175M 1%
686,484
-5,177
-0.7% -$1.28M
NOW icon
40
ServiceNow
NOW
$146B
$174M 0.99%
1,875,780
-10,890
-0.6% -$948K
XP icon
41
XP
XP
$10.1B
$173M 0.98%
14,564,666
+189,571
+1% +$2.7M
RIO icon
42
Rio Tinto
RIO
$168B
$170M 0.97%
2,477,842
-8,026
-0.3% -$582K
EW icon
43
Edwards Lifesciences
EW
$51.8B
$168M 0.95%
2,026,826
-15,731
-0.8% -$1.24M
CSGP icon
44
CoStar Group
CSGP
$12.5B
$165M 0.94%
2,395,783
-8,044
-0.3% -$594K
SHEL icon
45
Shell
SHEL
$266B
$164M 0.93%
2,843,831
+7,941
+0.3% +$467K
TTD icon
46
Trade Desk
TTD
$6.78B
$164M 0.93%
2,685,907
-15,757
-0.6% -$839K
ABBV icon
47
AbbVie
ABBV
$453B
$161M 0.91%
+1,007,317
New +$154M
PYPL icon
48
PayPal
PYPL
$47B
$160M 0.91%
2,111,005
-11,492
-0.5% -$885K
AMAT icon
49
Applied Materials
AMAT
$361B
$157M 0.9%
1,280,209
-595,852
-32% -$68.4M
MFC icon
50
Manulife Financial
MFC
$73.5B
$154M 0.88%
8,382,615
+145,317
+2% +$2.76M
1
2
3 4

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FMI
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VAS
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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
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AAM
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Harding Loevner's Q1 2023 Portfolio in Review

As of Q1 2023, Harding Loevner held 85 positions worth $17.6B, up 1.2% from $17.4B the previous quarter. Its ten largest holdings account for 38% of the portfolio.

Harding Loevner withdrew a net $1.39B in Q1 2023, closing 11 positions and reducing 49 holdings. Its most notable exit was First Republic Bank, an estimated $400M position sold in full.

By sector, the portfolio is most concentrated in Technology at 26% of assets, up from 22% a quarter earlier, followed by Healthcare and Financials.

Against the trend, Harding Loevner opened a new position in AbbVie worth $161M.

  • Harding Loevner's largest Q1 2023 buy was AbbVie: 1,007,317 shares worth $161M.
  • Harding Loevner added most to Linde in Q1 2023, an estimated $217M increase.
  • Harding Loevner's biggest Q1 2023 reduction was ICICI Bank, cutting an estimated $299M.
  • Harding Loevner fully exited First Republic Bank in Q1 2023, selling an estimated $400M.
  • Harding Loevner's ten largest holdings make up 38% of its $17.6B portfolio in Q1 2023.
  • Harding Loevner opened 3 new positions and closed 11 in Q1 2023.
  • Harding Loevner's portfolio value rose 1.2% quarter-over-quarter to $17.6B.

Based on Harding Loevner's 13F filing for Q1 2023, filed 15 May 2023.