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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
+9.85%
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
$27.7B
AUM Growth
+$6.83B
(+33%)
Cap. Flow
+$4.52B
Cap. Flow
% of AUM
16.29%
Top 10 Holdings %
Top 10 Hldgs %
32.19%
Holding
190
New
40
Increased
41
Reduced
54
Closed
12
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
IFX
INFINEON TECH AG ADS(REP1 ORD)
IFX
|
+$374M |
| 2 |
CME Group
CME
|
+$267M |
| 3 |
DASTY
DASSAULT SYSTEMES SA ADR
DASTY
|
+$245M |
| 4 |
Etsy
ETSY
|
+$210M |
| 5 |
Tradeweb Markets
TW
|
+$173M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alibaba
BABA
|
+$803M |
| 2 |
TSMC
TSM
|
+$458M |
| 3 |
NBIS
Nebius Group N.V.
NBIS
|
+$373M |
| 4 |
Trade Desk
TTD
|
+$276M |
| 5 |
NetEase
NTES
|
+$159M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 23.2% |
| 2 | Financials | 15.99% |
| 3 | Consumer Discretionary | 9.19% |
| 4 | Communication Services | 8.07% |
| 5 | Healthcare | 6.6% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
JOBS
51
DELISTED
51job Inc
JOBS
| $162M | 0.58% |
2,071,670
-811,184
| -28% | -$56.4M |
|
52
Linde
LIN
$226B
| $147M | 0.53% |
618,625
-7,241
| -1% | -$1.76M |
|
|
KUB
53
DELISTED
KUBOTA CORPORATION (ONE ADS REP 5 SHS COM)
KUB
| $146M | 0.53% |
+1,627,863
| New | +$146M |
|
54
Credicorp
BAP
$30.7B
| $136M | 0.49% |
1,097,972
-86,374
| -7% | -$11.1M |
|
55
Cognizant
CTSH
$26B
| $133M | 0.48% |
1,913,931
+34,193
| +2% | +$2.23M |
|
56
Baidu
BIDU
$37.2B
| $131M | 0.47% |
1,033,835
-79,658
| -7% | -$9.87M |
|
57
Grupo Aeroportuario del Sureste
ASR
$8.3B
| $126M | 0.46% |
1,087,614
-82,392
| -7% | -$8.96M |
|
58
Diageo
DEO
$53.6B
| $122M | 0.44% |
886,126
-15,536
| -2% | -$2.14M |
|
59
New Oriental
EDU
$8.98B
| $114M | 0.41% |
759,632
+758,571
| +71,496% | +$110M |
|
60
Grupo Cibest SA
CIB
$21.1B
| $104M | 0.37% |
4,057,675
-281,548
| -6% | -$7.7M |
|
61
Alcon
ALC
$35B
| $99.7M | 0.36% |
1,751,372
-19,224
| -1% | -$1.13M |
|
62
3M
MMM
$94.3B
| $91.2M | 0.33% |
680,613
+12,969
| +2% | +$1.74M |
|
63
Banco Bilbao Vizcaya Argentaria
BBVA
$156B
| $86.3M | 0.31% |
31,481,729
-923,386
| -3% | -$2.87M |
|
|
RDS.B
64
DELISTED
Royal Dutch Shell PLC ADS Class B
RDS.B
| $76M | 0.27% |
3,139,527
-114,342
| -4% | -$3.28M |
|
65
Autohome
ATHM
$2.62B
| $74.2M | 0.27% |
773,059
-59,766
| -7% | -$5.2M |
|
66
Tenaris
TS
$26.8B
| $62.1M | 0.22% |
6,303,559
-588,567
| -9% | -$6.96M |
|
|
CBD
67
DELISTED
Companhia Brasileira de Distribuicao
CBD
| $51.3M | 0.19% |
4,160,487
-315,951
| -7% | -$4.09M |
|
|
CEO
68
DELISTED
CNOOC Limited
CEO
| $46M | 0.17% |
478,645
-353,329
| -42% | -$38.9M |
|
|
69
NetEase
NTES
$84.7B
| $45.2M | 0.16% |
497,095
-1,692,610
| -77% | -$159M |
|
70
ZTO Express
ZTO
$17.9B
| $39.4M | 0.14% |
1,317,552
-1,151,604
| -47% | -$39.3M |
|
71
Banco Santander Chile
BSAC
$16.6B
| $34.3M | 0.12% |
2,472,095
-197,231
| -7% | -$3.14M |
|
72
Vanguard FTSE All-World ex-US ETF
VEU
$68.5B
| $28.6M | 0.1% |
566,563
+158,242
| +39% | +$8.03M |
|
73
iShares MSCI India ETF
INDA
$6.63B
| $26.7M | 0.1% |
789,341
-168,823
| -18% | -$5.53M |
|
|
MKTAY
74
DELISTED
MAKITA CORP SPONS ADR
MKTAY
| $5.64M | 0.02% |
+117,091
| New | +$5.64M |
|
75
Ecopetrol
EC
$34.5B
| $5.58M | 0.02% |
566,605
-38,731
| -6% | -$441K |
|
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Harding Loevner's Q3 2020 Portfolio in Review
As of Q3 2020, Harding Loevner held 190 positions worth $27.7B, up 33% from $20.9B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
Harding Loevner deployed $4.52B of net new capital in Q3 2020, opening 40 new positions and adding to 41 existing holdings. Its largest new stake was INFINEON TECH AG ADS(REP1 ORD): 13,249,533 shares worth $374M.
By sector, the portfolio is most concentrated in Technology at 23% of assets, down from 26% a quarter earlier, followed by Financials and Consumer Discretionary.
On the sell side, the largest reduction was Alibaba, an estimated $803M trimmed.
- Harding Loevner's largest Q3 2020 buy was INFINEON TECH AG ADS(REP1 ORD): 13,249,533 shares worth $374M.
- Harding Loevner added most to Illumina in Q3 2020, an estimated $114M increase.
- Harding Loevner's biggest Q3 2020 reduction was Alibaba, cutting an estimated $803M.
- Harding Loevner fully exited iShares MSCI ACWI ex US ETF in Q3 2020, selling an estimated $2.21M.
- Harding Loevner's ten largest holdings make up 32% of its $27.7B portfolio in Q3 2020.
- Harding Loevner opened 40 new positions and closed 12 in Q3 2020.
- Harding Loevner's portfolio value rose 33% quarter-over-quarter to $27.7B.
Based on Harding Loevner's 13F filing for Q3 2020, filed 16 Nov 2020.