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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
+12.7%
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
$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

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
ASML icon
26
ASML
ASML
$669B
$248M 1.45%
341,950
-63,056
-16% -$42.9M
TMO icon
27
Thermo Fisher Scientific
TMO
$220B
$236M 1.38%
452,766
-85,424
-16% -$46.1M
ACN icon
28
Accenture
ACN
$108B
$227M 1.32%
734,898
-246,249
-25% -$71.6M
CRM icon
29
Salesforce
CRM
$158B
$225M 1.31%
1,066,078
-210,389
-16% -$42.9M
AVGO icon
30
Broadcom
AVGO
$2.04T
$222M 1.3%
2,560,130
-841,210
-25% -$60M
ADBE icon
31
Adobe
ADBE
$105B
$213M 1.25%
436,153
-82,668
-16% -$33.3M
SLB icon
32
SLB Ltd
SLB
$75B
$208M 1.22%
4,243,847
-820,864
-16% -$39.1M
SNPS icon
33
Synopsys
SNPS
$79.7B
$207M 1.21%
474,823
-443,810
-48% -$179M
ISRG icon
34
Intuitive Surgical
ISRG
$134B
$197M 1.15%
574,713
-111,771
-16% -$33.8M
MFC icon
35
Manulife Financial
MFC
$73.5B
$196M 1.15%
10,380,358
+1,997,743
+24% +$38.1M
AAPL icon
36
Apple
AAPL
$4.57T
$195M 1.14%
1,005,462
-195,283
-16% -$34M
NVDA icon
37
NVIDIA
NVDA
$5.42T
$189M 1.11%
4,476,590
-2,398,580
-35% -$79.6M
COST icon
38
Costco
COST
$420B
$180M 1.05%
333,439
-75,134
-18% -$38M
CSGP icon
39
CoStar Group
CSGP
$12.3B
$179M 1.04%
2,010,559
-385,224
-16% -$29.7M
NOW icon
40
ServiceNow
NOW
$129B
$177M 1.03%
1,572,785
-302,995
-16% -$30.3M
SHEL icon
41
Shell
SHEL
$245B
$166M 0.97%
2,753,674
-90,157
-3% -$5.41M
PINS icon
42
Pinterest
PINS
$13.4B
$166M 0.97%
6,074,105
-1,144,455
-16% -$28.5M
EW icon
43
Edwards Lifesciences
EW
$51.7B
$160M 0.93%
1,693,949
-332,877
-16% -$28.9M
TW icon
44
Tradeweb Markets
TW
$21.6B
$159M 0.93%
2,317,967
-440,520
-16% -$31.2M
BBVA icon
45
Banco Bilbao Vizcaya Argentaria
BBVA
$156B
$159M 0.93%
20,661,234
-533,994
-3% -$3.82M
EL icon
46
Estee Lauder
EL
$32B
$156M 0.91%
+793,141
New +$168M
AMAT icon
47
Applied Materials
AMAT
$428B
$155M 0.91%
1,075,639
-204,570
-16% -$25.6M
RIO icon
48
Rio Tinto
RIO
$164B
$153M 0.89%
2,396,439
-81,403
-3% -$5.23M
NKE icon
49
Nike
NKE
$61.9B
$131M 0.76%
1,185,877
-959,054
-45% -$112M
TLK icon
50
Telkom Indonesia
TLK
$14.9B
$124M 0.73%
4,658,347
-148,976
-3% -$4.13M
1
2
3 4

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DCP
Durable Capital Partners Bethesda, Maryland $9.71B AUM 26.27% 1-Year Est. Return
FCM
Frontier Capital Management Boston, Massachusetts $9.73B AUM 55.65% 1-Year Est. Return
CCM
Cullen Capital Management New York $9.75B AUM 21.81% 1-Year Est. Return
URS
Utah Retirement Systems Salt Lake City, Utah $9.78B AUM 28.72% 1-Year Est. Return
MPI
Mairs & Power Inc St Paul, Minnesota $9.79B AUM 20.6% 1-Year Est. Return
TIM
Thornburg Investment Management Santa Fe, New Mexico $9.63B AUM 35.65% 1-Year Est. Return
SC
Sculptor Capital New York $9.61B AUM 27.5% 1-Year Est. Return
TCA
Tortoise Capital Advisors Overland Park, Kansas $9.6B AUM 19.53% 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.