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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
+12.7%
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
$17.1B
AUM Growth
-$439M
Cap. Flow
-$2.13B
Cap. Flow %
-12.42%
Top 10 Hldgs %
39.82%
Holding
76
New
2
Increased
7
Reduced
59
Closed
7
Avg Time Held
19.4 quarters
Top 10 Avg Time Held
11.6 quarters
Top 20 Avg Time Held
10.9 quarters

Top Buys

Rank Stock Value
1
BAP icon
Credicorp
BAP
+$194M
2
EL icon
Estee Lauder
EL
+$168M
3
DHR icon
Danaher
DHR
+$144M
4
LIN icon
Linde
LIN
+$92.3M
5
AMZN icon
Amazon
AMZN
+$47.3M

Top Sells

Rank Stock Value
1
ILMN icon
Illumina
ILMN
+$253M
2
SNPS icon
Synopsys
SNPS
+$179M
3
TTD icon
Trade Desk
TTD
+$164M
4
PYPL icon
PayPal
PYPL
+$160M
5
NKE icon
Nike
NKE
+$112M

Sector Composition

Rank Sector Weight
1 Technology 25.06%
2 Healthcare 17.65%
3 Financials 14.69%
4 Consumer Staples 9.68%
5 Industrials 8.91%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
ASML icon
26
ASML
ASML
$684B
$248M 1.45%
341,950
-63,056
-16% -$42.9M
2017 Q2
24 quarters
TMO icon
27
Thermo Fisher Scientific
TMO
$243B
$236M 1.38%
452,766
-85,424
-16% -$46.1M
2017 Q2
24 quarters
ACN icon
28
Accenture
ACN
$128B
$227M 1.32%
734,898
-246,249
-25% -$71.6M
2021 Q1
9 quarters
CRM icon
29
Salesforce
CRM
$189B
$225M 1.31%
1,066,078
-210,389
-16% -$42.9M
2017 Q2
24 quarters
AVGO icon
30
Broadcom
AVGO
$1.73T
$222M 1.3%
2,560,130
-841,210
-25% -$60M
2021 Q2
8 quarters
ADBE icon
31
Adobe
ADBE
$94.3B
$213M 1.25%
436,153
-82,668
-16% -$33.3M
2017 Q2
24 quarters
SLB icon
32
SLB Ltd
SLB
$72.6B
$208M 1.22%
4,243,847
-820,864
-16% -$39.1M
2013 Q2
40 quarters
SNPS icon
33
Synopsys
SNPS
$97.7B
$207M 1.21%
474,823
-443,810
-48% -$179M
2018 Q4
18 quarters
ISRG icon
34
Intuitive Surgical
ISRG
$150B
$197M 1.15%
574,713
-111,771
-16% -$33.8M
2020 Q4
10 quarters
MFC icon
35
Manulife Financial
MFC
$70.2B
$196M 1.15%
10,380,358
+1,997,743
+24% +$38.1M
2021 Q4
6 quarters
AAPL icon
36
Apple
AAPL
$4.91T
$195M 1.14%
1,005,462
-195,283
-16% -$34M
2017 Q2
24 quarters
NVDA icon
37
NVIDIA
NVDA
$5.54T
$189M 1.11%
4,476,590
-2,398,580
-35% -$79.6M
2017 Q4
22 quarters
COST icon
38
Costco
COST
$420B
$180M 1.05%
333,439
-75,134
-18% -$38M
2022 Q1
5 quarters
CSGP icon
39
CoStar Group
CSGP
$12B
$179M 1.04%
2,010,559
-385,224
-16% -$29.7M
2021 Q2
8 quarters
NOW icon
40
ServiceNow
NOW
$146B
$177M 1.03%
1,572,785
-302,995
-16% -$30.3M
2019 Q3
15 quarters
SHEL icon
41
Shell
SHEL
$285B
$166M 0.97%
2,753,674
-90,157
-3% -$5.41M
2022 Q1
5 quarters
PINS icon
42
Pinterest
PINS
$12.1B
$166M 0.97%
6,074,105
-1,144,455
-16% -$28.5M
2021 Q2
8 quarters
EW icon
43
Edwards Lifesciences
EW
$49.1B
$160M 0.93%
1,693,949
-332,877
-16% -$28.9M
2020 Q2
12 quarters
TW icon
44
Tradeweb Markets
TW
$23.4B
$159M 0.93%
2,317,967
-440,520
-16% -$31.2M
2020 Q3
11 quarters
BBVA icon
45
Banco Bilbao Vizcaya Argentaria
BBVA
$144B
$159M 0.93%
20,661,234
-533,994
-3% -$3.82M
2013 Q2
40 quarters
EL icon
46
Estee Lauder
EL
$35.5B
$156M 0.91%
+793,141
New +$168M
2023 Q2
0 quarters
AMAT icon
47
Applied Materials
AMAT
$402B
$155M 0.91%
1,075,639
-204,570
-16% -$25.6M
2021 Q3
7 quarters
RIO icon
48
Rio Tinto
RIO
$154B
$153M 0.89%
2,396,439
-81,403
-3% -$5.23M
2019 Q2
16 quarters
NKE icon
49
Nike
NKE
$51.6B
$131M 0.76%
1,185,877
-959,054
-45% -$112M
2013 Q2
40 quarters
TLK icon
50
Telkom Indonesia
TLK
$12.6B
$124M 0.73%
4,658,347
-148,976
-3% -$4.13M
2021 Q1
9 quarters
1
2
3 4

Similar funds

FMI
Factory Mutual Insurance Waltham, Massachusetts $10.6B AUM 34.1% 1-Year Est. Return
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 Q2 2023 Portfolio in Review

As of Q2 2023, Harding Loevner held 76 positions worth $17.1B, down 2.5% from $17.6B the previous quarter. Its ten largest holdings account for 40% of the portfolio.

Harding Loevner withdrew a net $2.13B in Q2 2023, closing 7 positions and reducing 59 holdings. Its most notable exit was Illumina, an estimated $253M position sold in full.

By sector, the portfolio is most concentrated in Technology at 25% of assets, down from 26% a quarter earlier, followed by Healthcare and Financials.

Against the trend, Harding Loevner opened a new position in Estee Lauder worth $156M.

  • Harding Loevner's largest Q2 2023 buy was Estee Lauder: 793,141 shares worth $156M.
  • Harding Loevner added most to Credicorp in Q2 2023, an estimated $194M increase.
  • Harding Loevner's biggest Q2 2023 reduction was Synopsys, cutting an estimated $179M.
  • Harding Loevner fully exited Illumina in Q2 2023, selling an estimated $253M.
  • Harding Loevner's ten largest holdings make up 40% of its $17.1B portfolio in Q2 2023.
  • Harding Loevner opened 2 new positions and closed 7 in Q2 2023.
  • Harding Loevner's portfolio value fell 2.5% quarter-over-quarter to $17.1B.

Based on Harding Loevner's 13F filing for Q2 2023, filed 14 Aug 2023.