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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
+15.38%
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
$14.9B
AUM Growth
+$1.8B
Cap. Flow
+$163M
Cap. Flow %
1.1%
Top 10 Hldgs %
44.49%
Holding
72
New
5
Increased
30
Reduced
32
Closed
4

Top Buys

Rank Stock Value
1
NTES icon
NetEase
NTES
+$289M
2
RYAAY icon
Ryanair
RYAAY
+$223M
3
V icon
Visa
V
+$98.2M
4
PGR icon
Progressive
PGR
+$95.8M
5
JNJ icon
Johnson & Johnson
JNJ
+$89M

Top Sells

Rank Stock Value
1
UNH icon
UnitedHealth
UNH
+$255M
2
CRM icon
Salesforce
CRM
+$150M
3
ACN icon
Accenture
ACN
+$84.3M
4
NFLX icon
Netflix
NFLX
+$82.4M
5
TMO icon
Thermo Fisher Scientific
TMO
+$78.2M

Sector Composition

Rank Sector Weight
1 Technology 28.97%
2 Financials 16.88%
3 Communication Services 11.68%
4 Healthcare 11.25%
5 Industrials 9.76%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ZTO icon
26
ZTO Express
ZTO
$18.2B
$219M 1.47%
12,321,785
-885,787
-7% -$16M
AVGO icon
27
Broadcom
AVGO
$1.82T
$211M 1.42%
764,985
-139,534
-15% -$30.3M
BKNG icon
28
Booking.com
BKNG
$138B
$202M 1.36%
873,150
+17,250
+2% +$3.53M
MFC icon
29
Manulife Financial
MFC
$72.6B
$196M 1.32%
6,137,932
-1,270,933
-17% -$39.2M
NVDA icon
30
NVIDIA
NVDA
$5.01T
$161M 1.08%
1,019,781
+321,109
+46% +$40.4M
HEI icon
31
HEICO Corp
HEI
$48.9B
$145M 0.98%
442,150
+6,587
+2% +$1.82M
SNPS icon
32
Synopsys
SNPS
$71.5B
$144M 0.97%
281,564
+88,524
+46% +$41.2M
APH icon
33
Amphenol
APH
$188B
$143M 0.96%
1,443,477
+27,036
+2% +$2.21M
ADBE icon
34
Adobe
ADBE
$89.5B
$139M 0.94%
360,066
+124,610
+53% +$48M
BBVA icon
35
Banco Bilbao Vizcaya Argentaria
BBVA
$144B
$136M 0.92%
8,868,895
-171,805
-2% -$2.47M
NOW icon
36
ServiceNow
NOW
$102B
$134M 0.9%
652,875
+10,670
+2% +$2.01M
AMAT icon
37
Applied Materials
AMAT
$426B
$130M 0.88%
712,217
+9,037
+1% +$1.43M
TTD icon
38
Trade Desk
TTD
$8.13B
$129M 0.87%
1,791,295
+35,324
+2% +$2.26M
ACN icon
39
Accenture
ACN
$89.9B
$128M 0.86%
429,388
-276,920
-39% -$84.3M
CSGP icon
40
CoStar Group
CSGP
$11.3B
$118M 0.79%
1,467,080
+26,981
+2% +$2.1M
DHR icon
41
Danaher
DHR
$135B
$113M 0.76%
570,834
+10,170
+2% +$1.97M
RIO icon
42
Rio Tinto
RIO
$148B
$111M 0.75%
1,903,949
-68,652
-3% -$4.05M
ABBV icon
43
AbbVie
ABBV
$458B
$110M 0.74%
592,388
+9,833
+2% +$1.83M
AME icon
44
Ametek
AME
$55.5B
$105M 0.7%
577,923
+10,527
+2% +$1.81M
V icon
45
Visa
V
$677B
$100M 0.67%
+281,841
New +$98.2M
ATKR icon
46
Atkore
ATKR
$2.59B
$94.4M 0.64%
1,338,162
+41,129
+3% +$2.67M
PGR icon
47
Progressive
PGR
$124B
$93.3M 0.63%
+349,554
New +$95.8M
TMO icon
48
Thermo Fisher Scientific
TMO
$211B
$93.1M 0.63%
229,531
-187,050
-45% -$78.2M
JNJ icon
49
Johnson & Johnson
JNJ
$634B
$88.5M 0.6%
+579,182
New +$89M
HON icon
50
Honeywell
HON
$77B
$86.7M 0.58%
395,134
+6,793
+2% +$1.37M
1
2
3

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FCM
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CCM
Cullen Capital Management New York $9.75B AUM 21.81% 1-Year Est. Return
CIM
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URS
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MPI
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TIM
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DPIM
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Harding Loevner's Q2 2025 Portfolio in Review

As of Q2 2025, Harding Loevner held 72 positions worth $14.9B, up 14% from $13.1B the previous quarter. Its ten largest holdings account for 44% of the portfolio.

Harding Loevner's Q2 2025 filing shows 5 new, 30 increased, 32 reduced and 4 closed positions. Its largest new stake was Ryanair: 4,387,970 shares worth $253M. The largest sale was UnitedHealth, an estimated $255M.

By sector, the portfolio is most concentrated in Technology at 29% of assets, up from 28% a quarter earlier, followed by Financials and Communication Services.

  • Harding Loevner's largest Q2 2025 buy was Ryanair: 4,387,970 shares worth $253M.
  • Harding Loevner added most to NetEase in Q2 2025, an estimated $289M increase.
  • Harding Loevner's biggest Q2 2025 reduction was Salesforce, cutting an estimated $150M.
  • Harding Loevner fully exited UnitedHealth in Q2 2025, selling an estimated $255M.
  • Harding Loevner's ten largest holdings make up 44% of its $14.9B portfolio in Q2 2025.
  • Harding Loevner opened 5 new positions and closed 4 in Q2 2025.
  • Harding Loevner's portfolio value rose 14% quarter-over-quarter to $14.9B.

Based on Harding Loevner's 13F filing for Q2 2025, filed 14 Aug 2025.