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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
+21.57%
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
$24.2B
AUM Growth
-$3.55B
Cap. Flow
-$7.17B
Cap. Flow %
-29.67%
Top 10 Hldgs %
38.91%
Holding
185
New
7
Increased
34
Reduced
57
Closed
38

Top Buys

Rank Stock Value
1
BHP icon
BHP
BHP
+$267M
2
EW icon
Edwards Lifesciences
EW
+$199M
3
ISRG icon
Intuitive Surgical
ISRG
+$198M
4
EDU icon
New Oriental
EDU
+$90.8M
5
AMZN icon
Amazon
AMZN
+$63.5M

Top Sells

Rank Stock Value
1
IFX
INFINEON TECH AG ADS(REP1 ORD)
IFX
+$374M
2
ROP icon
Roper Technologies
ROP
+$299M
3
CHL
China Mobile Limited
CHL
+$298M
4
DASTY
DASSAULT SYSTEMES SA ADR
DASTY
+$245M
5
ABT icon
Abbott
ABT
+$239M

Sector Composition

Rank Sector Weight
1 Technology 25.27%
2 Financials 24.1%
3 Communication Services 10.11%
4 Consumer Discretionary 9.99%
5 Healthcare 8.79%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BAP icon
51
Credicorp
BAP
$30.7B
$179M 0.74%
1,091,094
-6,878
-0.6% -$954K
ASR icon
52
Grupo Aeroportuario del Sureste
ASR
$8.3B
$178M 0.74%
1,080,960
-6,654
-0.6% -$932K
CIB icon
53
Grupo Cibest SA
CIB
$21.1B
$162M 0.67%
4,032,100
-25,575
-0.6% -$798K
LIN icon
54
Linde
LIN
$226B
$160M 0.66%
606,945
-11,680
-2% -$2.87M
UL icon
55
Unilever
UL
$136B
$157M 0.65%
2,306,381
-36,599
-2% -$2.48M
CTSH icon
56
Cognizant
CTSH
$26B
$152M 0.63%
1,849,056
-64,875
-3% -$4.94M
DEO icon
57
Diageo
DEO
$53.6B
$141M 0.58%
884,560
-1,566
-0.2% -$234K
JOBS
58
DELISTED
51job Inc
JOBS
$129M 0.54%
1,848,926
-222,744
-11% -$16.1M
RDS.B
59
DELISTED
Royal Dutch Shell PLC ADS Class B
RDS.B
$102M 0.42%
3,020,422
-119,105
-4% -$3.54M
TS icon
60
Tenaris
TS
$26.8B
$99.5M 0.41%
6,239,732
-63,827
-1% -$850K
ATHM icon
61
Autohome
ATHM
$2.62B
$76.8M 0.32%
771,263
-1,796
-0.2% -$178K
CBD
62
DELISTED
Companhia Brasileira de Distribuicao
CBD
$59.3M 0.25%
4,142,546
-17,941
-0.4% -$229K
VEU icon
63
Vanguard FTSE All-World ex-US ETF
VEU
$68.5B
$53.9M 0.22%
923,015
+356,452
+63% +$19.4M
BSAC icon
64
Banco Santander Chile
BSAC
$16.6B
$47M 0.19%
2,473,334
+1,239
+0.1% +$20.8K
ZTO icon
65
ZTO Express
ZTO
$17.9B
$38.8M 0.16%
1,329,230
+11,678
+0.9% +$343K
INDA icon
66
iShares MSCI India ETF
INDA
$6.63B
$32.4M 0.13%
804,522
+15,181
+2% +$555K
BBVA icon
67
Banco Bilbao Vizcaya Argentaria
BBVA
$156B
$22.5M 0.09%
4,556,195
-26,925,534
-86% -$103M
EC icon
68
Ecopetrol
EC
$34.5B
$7.01M 0.03%
542,877
-23,728
-4% -$268K
ACWX icon
69
iShares MSCI ACWI ex US ETF
ACWX
$11.8B
$6.74M 0.03%
+127,145
New +$6.31M
NTES icon
70
NetEase
NTES
$84.7B
$6.58M 0.03%
68,643
-428,452
-86% -$38.4M
GMAB icon
71
Genmab
GMAB
$19.5B
$5.06M 0.02%
+124,328
New +$4.65M
ACWI icon
72
iShares MSCI ACWI ETF
ACWI
$33.5B
$3.83M 0.02%
42,242
+10,002
+31% +$854K
CLB icon
73
Core Laboratories
CLB
$521M
$2.37M 0.01%
89,527
+5,375
+6% +$110K
ST icon
74
Sensata Technologies
ST
$6.79B
$1.19M ﹤0.01%
22,466
+751
+3% +$36.1K
IQV icon
75
IQVIA
IQV
$39.3B
$882K ﹤0.01%
4,920
+4,820
+4,820% +$812K
1 2
3
4 5

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FCM
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CCM
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URS
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MPI
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TIM
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SC
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TCA
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Harding Loevner's Q4 2020 Portfolio in Review

As of Q4 2020, Harding Loevner held 185 positions worth $24.2B, down 13% from $27.7B the previous quarter. Its ten largest holdings account for 39% of the portfolio.

Harding Loevner withdrew a net $7.17B in Q4 2020, closing 38 positions and reducing 57 holdings. Its most notable exit was INFINEON TECH AG ADS(REP1 ORD), an estimated $374M position sold in full.

By sector, the portfolio is most concentrated in Technology at 25% of assets, up from 23% a quarter earlier, followed by Financials and Communication Services.

Against the trend, Harding Loevner opened a new position in BHP worth $311M.

  • Harding Loevner's largest Q4 2020 buy was BHP: 5,333,251 shares worth $311M.
  • Harding Loevner added most to Edwards Lifesciences in Q4 2020, an estimated $199M increase.
  • Harding Loevner's biggest Q4 2020 reduction was Roper Technologies, cutting an estimated $299M.
  • Harding Loevner fully exited INFINEON TECH AG ADS(REP1 ORD) in Q4 2020, selling an estimated $374M.
  • Harding Loevner's ten largest holdings make up 39% of its $24.2B portfolio in Q4 2020.
  • Harding Loevner opened 7 new positions and closed 38 in Q4 2020.
  • Harding Loevner's portfolio value fell 13% quarter-over-quarter to $24.2B.

Based on Harding Loevner's 13F filing for Q4 2020, filed 16 Feb 2021.