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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
+7.88%
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
$16.2B
AUM Growth
-$1.62B
Cap. Flow
-$2.71B
Cap. Flow %
-16.72%
Top 10 Hldgs %
38.85%
Holding
77
New
5
Increased
8
Reduced
56
Closed
8

Top Buys

Rank Stock Value
1
MELI icon
Mercado Libre
MELI
+$367M
2
GLOB icon
Globant
GLOB
+$203M
3
MSFT icon
Microsoft
MSFT
+$192M
4
ZTO icon
ZTO Express
ZTO
+$191M
5
BKNG icon
Booking.com
BKNG
+$129M

Top Sells

Rank Stock Value
1
TSM icon
TSMC
TSM
+$579M
2
FMX icon
Fomento Económico Mexicano
FMX
+$302M
3
SAP icon
SAP
SAP
+$279M
4
MFC icon
Manulife Financial
MFC
+$203M
5
BHP icon
BHP
BHP
+$193M

Sector Composition

Rank Sector Weight
1 Technology 26.65%
2 Healthcare 18.48%
3 Financials 13.02%
4 Communication Services 10.87%
5 Industrials 9.66%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ZTO icon
26
ZTO Express
ZTO
$17.9B
$242M 1.49%
11,533,063
+9,980,678
+643% +$191M
ACN icon
27
Accenture
ACN
$108B
$237M 1.46%
682,737
-113,056
-14% -$41.2M
UNH icon
28
UnitedHealth
UNH
$370B
$236M 1.45%
476,170
-38,947
-8% -$19.8M
ROK icon
29
Rockwell Automation
ROK
$49B
$225M 1.39%
773,501
-76,924
-9% -$22.2M
PINS icon
30
Pinterest
PINS
$13.4B
$220M 1.36%
6,333,393
-635,654
-9% -$23.1M
AMAT icon
31
Applied Materials
AMAT
$428B
$211M 1.3%
1,024,978
+93,367
+10% +$17.1M
TW icon
32
Tradeweb Markets
TW
$21.6B
$192M 1.19%
1,844,765
-150,932
-8% -$15.2M
NOW icon
33
ServiceNow
NOW
$129B
$191M 1.18%
1,252,780
-104,615
-8% -$15.8M
GLOB icon
34
Globant
GLOB
$1.61B
$183M 1.13%
+903,956
New +$203M
AVGO icon
35
Broadcom
AVGO
$2.04T
$182M 1.12%
1,372,890
-825,080
-38% -$102M
ISRG icon
36
Intuitive Surgical
ISRG
$134B
$179M 1.11%
448,720
-49,072
-10% -$18.5M
ADBE icon
37
Adobe
ADBE
$105B
$175M 1.08%
346,696
-29,116
-8% -$16.7M
AME icon
38
Ametek
AME
$58.2B
$173M 1.07%
947,967
-489,078
-34% -$84.2M
SLB icon
39
SLB Ltd
SLB
$75B
$165M 1.02%
3,012,528
-324,840
-10% -$16.4M
ABBV icon
40
AbbVie
ABBV
$435B
$160M 0.99%
878,240
-76,397
-8% -$13.2M
AAPL icon
41
Apple
AAPL
$4.57T
$158M 0.97%
919,490
-226,728
-20% -$41.2M
CSGP icon
42
CoStar Group
CSGP
$12.3B
$155M 0.95%
1,601,191
-130,254
-8% -$11.2M
SNPS icon
43
Synopsys
SNPS
$79.7B
$150M 0.93%
262,417
-28,721
-10% -$15.8M
COST icon
44
Costco
COST
$420B
$132M 0.82%
180,358
-95,529
-35% -$68.2M
BKNG icon
45
Booking.com
BKNG
$161B
$131M 0.81%
+901,650
New +$129M
ASML icon
46
ASML
ASML
$669B
$127M 0.78%
130,530
-165,582
-56% -$147M
RGEN icon
47
Repligen
RGEN
$9.25B
$121M 0.75%
659,414
-56,885
-8% -$10.8M
HON icon
48
Honeywell
HON
$78B
$112M 0.69%
577,609
-52,223
-8% -$9.83M
GMAB icon
49
Genmab
GMAB
$19.5B
$98.5M 0.61%
3,294,728
+4,833
+0.1% +$142K
TLK icon
50
Telkom Indonesia
TLK
$14.9B
$97.5M 0.6%
4,380,505
-97,343
-2% -$2.46M
1
2
3 4

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DCP
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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 Q1 2024 Portfolio in Review

As of Q1 2024, Harding Loevner held 77 positions worth $16.2B, down 9.1% from $17.8B the previous quarter. Its ten largest holdings account for 39% of the portfolio.

Harding Loevner withdrew a net $2.71B in Q1 2024, closing 8 positions and reducing 56 holdings. Its most notable exit was NVIDIA, an estimated $193M position sold in full.

By sector, the portfolio is most concentrated in Technology at 27% of assets, down from 27% a quarter earlier, followed by Healthcare and Financials.

Against the trend, Harding Loevner opened a new position in Mercado Libre worth $339M.

  • Harding Loevner's largest Q1 2024 buy was Mercado Libre: 224,067 shares worth $339M.
  • Harding Loevner added most to Microsoft in Q1 2024, an estimated $192M increase.
  • Harding Loevner's biggest Q1 2024 reduction was TSMC, cutting an estimated $579M.
  • Harding Loevner fully exited NVIDIA in Q1 2024, selling an estimated $193M.
  • Harding Loevner's ten largest holdings make up 39% of its $16.2B portfolio in Q1 2024.
  • Harding Loevner opened 5 new positions and closed 8 in Q1 2024.
  • Harding Loevner's portfolio value fell 9.1% quarter-over-quarter to $16.2B.

Based on Harding Loevner's 13F filing for Q1 2024, filed 15 May 2024.