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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
+9.85%
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
$27.7B
AUM Growth
+$6.83B
Cap. Flow
+$4.52B
Cap. Flow %
16.29%
Top 10 Hldgs %
32.19%
Holding
190
New
40
Increased
41
Reduced
54
Closed
12
Avg Time Held
11.1 quarters
Top 10 Avg Time Held
7.1 quarters
Top 20 Avg Time Held
9.8 quarters

Top Buys

Rank Stock Value
1
IFX
INFINEON TECH AG ADS(REP1 ORD)
IFX
+$374M
2
CME icon
CME Group
CME
+$267M
3
DASTY
DASSAULT SYSTEMES SA ADR
DASTY
+$245M
4
ETSY icon
Etsy
ETSY
+$210M
5
TW icon
Tradeweb Markets
TW
+$173M

Top Sells

Rank Stock Value
1
BABA icon
Alibaba
BABA
+$803M
2
TSM icon
TSMC
TSM
+$458M
3
NBIS
Nebius Group N.V.
NBIS
+$373M
4
TTD icon
Trade Desk
TTD
+$276M
5
NTES icon
NetEase
NTES
+$159M

Sector Composition

Rank Sector Weight
1 Technology 23.2%
2 Miscellaneous 19.78%
3 Financials 17.49%
4 Communication Services 9.19%
5 Consumer Discretionary 9.19%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
JOBS
51
DELISTED
51job Inc
JOBS
$162M 0.58%
2,071,670
-811,184
-28% -$56.4M
2013 Q2
29 quarters
LIN icon
52
Linde
LIN
$223B
$147M 0.53%
618,625
-7,241
-1% -$1.76M
2018 Q4
7 quarters
KUB
53
DELISTED
KUBOTA CORPORATION (ONE ADS REP 5 SHS COM)
KUB
$146M 0.53%
+1,627,863
New +$146M
2020 Q3
0 quarters
BAP icon
54
Credicorp
BAP
$30.3B
$136M 0.49%
1,097,972
-86,374
-7% -$11.1M
2013 Q2
29 quarters
CTSH icon
55
Cognizant
CTSH
$26.7B
$133M 0.48%
1,913,931
+34,193
+2% +$2.23M
2017 Q2
13 quarters
BIDU icon
56
Baidu
BIDU
$29B
$131M 0.47%
1,033,835
-79,658
-7% -$9.87M
2013 Q2
29 quarters
ASR icon
57
Grupo Aeroportuario del Sureste
ASR
$6.95B
$126M 0.46%
1,087,614
-82,392
-7% -$8.96M
2013 Q2
29 quarters
DEO icon
58
Diageo
DEO
$48.2B
$122M 0.44%
886,126
-15,536
-2% -$2.14M
2019 Q1
6 quarters
EDU icon
59
New Oriental
EDU
$9.09B
$114M 0.41%
759,632
+758,571
+71,496% +$110M
2017 Q4
11 quarters
CIB icon
60
Grupo Cibest SA
CIB
$22.4B
$104M 0.37%
4,057,675
-281,548
-6% -$7.7M
2013 Q2
29 quarters
ALC icon
61
Alcon
ALC
$31B
$99.7M 0.36%
1,751,372
-19,224
-1% -$1.13M
2019 Q4
3 quarters
MMM icon
62
3M
MMM
$82.5B
$91.2M 0.33%
680,613
+12,969
+2% +$1.74M
2013 Q2
29 quarters
BBVA icon
63
Banco Bilbao Vizcaya Argentaria
BBVA
$144B
$86.3M 0.31%
31,481,729
-923,386
-3% -$2.87M
2013 Q2
29 quarters
RDS.B
64
DELISTED
Royal Dutch Shell PLC ADS Class B
RDS.B
$76M 0.27%
3,139,527
-114,342
-4% -$3.28M
2016 Q1
18 quarters
ATHM icon
65
Autohome
ATHM
$2.38B
$74.2M 0.27%
773,059
-59,766
-7% -$5.2M
2019 Q2
5 quarters
TS icon
66
Tenaris
TS
$28.9B
$62.1M 0.22%
6,303,559
-588,567
-9% -$6.96M
2013 Q2
29 quarters
CBD
67
DELISTED
Companhia Brasileira de Distribuicao
CBD
$51.3M 0.19%
4,160,487
-315,951
-7% -$4.09M
2013 Q4
27 quarters
CEO
68
DELISTED
CNOOC Limited
CEO
$46M 0.17%
478,645
-353,329
-42% -$38.9M
2013 Q2
29 quarters
NTES icon
69
NetEase
NTES
$79.6B
$45.2M 0.16%
497,095
-1,692,610
-77% -$159M
2019 Q1
6 quarters
ZTO icon
70
ZTO Express
ZTO
$15.1B
$39.4M 0.14%
1,317,552
-1,151,604
-47% -$39.3M
2019 Q4
3 quarters
BSAC icon
71
Banco Santander Chile
BSAC
$15.2B
$34.3M 0.12%
2,472,095
-197,231
-7% -$3.14M
2013 Q2
29 quarters
VEU icon
72
Vanguard FTSE All-World ex-US ETF
VEU
$68.3B
$28.6M 0.1%
566,563
+158,242
+39% +$8.03M
2017 Q3
12 quarters
INDA icon
73
iShares MSCI India ETF
INDA
$5.73B
$26.7M 0.1%
789,341
-168,823
-18% -$5.53M
2019 Q2
5 quarters
MKTAY
74
DELISTED
MAKITA CORP SPONS ADR
MKTAY
$5.64M 0.02%
+117,091
New +$5.64M
2020 Q3
0 quarters
EC icon
75
Ecopetrol
EC
$34.8B
$5.58M 0.02%
566,605
-38,731
-6% -$441K
2013 Q2
29 quarters
1 2
3
4 5

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 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 Miscellaneous and Financials.

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.