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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
-3.77%
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
$18.2B
AUM Growth
-$7.92B
Cap. Flow
-$2.26B
Cap. Flow %
-12.43%
Top 10 Hldgs %
36.93%
Holding
168
New
8
Increased
30
Reduced
80
Closed
15

Top Buys

Rank Stock Value
1
ROK icon
Rockwell Automation
ROK
+$255M
2
AVGO icon
Broadcom
AVGO
+$199M
3
LULU icon
lululemon athletica
LULU
+$178M
4
SHEL icon
Shell
SHEL
+$168M
5
FMX icon
Fomento Económico Mexicano
FMX
+$117M

Top Sells

Rank Stock Value
1
CHKP icon
Check Point Software Technologies
CHKP
+$378M
2
BIDU icon
Baidu
BIDU
+$275M
3
TSM icon
TSMC
TSM
+$248M
4
EPAM icon
EPAM Systems
EPAM
+$194M
5
MA icon
Mastercard
MA
+$177M

Sector Composition

Rank Sector Weight
1 Technology 23.37%
2 Financials 18.83%
3 Healthcare 15.78%
4 Industrials 9.25%
5 Communication Services 8.07%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CRM icon
51
Salesforce
CRM
$213B
$134M 0.74%
812,420
-57,991
-7% -$12.5M
BBVA icon
52
Banco Bilbao Vizcaya Argentaria
BBVA
$163B
$130M 0.72%
23,355,535
+204,443
+0.9% +$1.25M
DEO icon
53
Diageo
DEO
$49.6B
$121M 0.67%
604,616
-9,529
-2% -$1.91M
TS icon
54
Tenaris
TS
$28.5B
$120M 0.66%
4,154,992
-915,872
-18% -$23.8M
NVDA icon
55
NVIDIA
NVDA
$5.56T
$120M 0.66%
6,942,990
-506,810
-7% -$12.7M
TTD icon
56
Trade Desk
TTD
$6.78B
$120M 0.66%
2,613,132
-181,144
-6% -$13.1M
LIN icon
57
Linde
LIN
$220B
$118M 0.65%
370,242
-4,793
-1% -$1.48M
ZTO icon
58
ZTO Express
ZTO
$15.9B
$115M 0.64%
4,849,823
-601,882
-11% -$17M
CIB icon
59
Grupo Cibest SA
CIB
$23.8B
$105M 0.58%
2,887,230
-493,718
-15% -$17.8M
ITUB icon
60
Itaú Unibanco
ITUB
$89.8B
$105M 0.58%
26,522,334
-15,856,730
-37% -$66.8M
PYPL icon
61
PayPal
PYPL
$47B
$102M 0.56%
1,263,799
-89,022
-7% -$11.8M
ETSY icon
62
Etsy
ETSY
$7.02B
$90.1M 0.5%
1,027,832
-73,188
-7% -$10.9M
BABA icon
63
Alibaba
BABA
$281B
$83.5M 0.46%
984,186
-190,186
-16% -$21.9M
NFLX icon
64
Netflix
NFLX
$326B
$69.8M 0.38%
3,877,050
-291,190
-7% -$12.1M
VEU icon
65
Vanguard FTSE All-World ex-US ETF
VEU
$71.3B
$62.7M 0.35%
1,088,054
-1,434,476
-57% -$84.4M
BBD icon
66
Banco Bradesco
BBD
$36.7B
$48.3M 0.27%
15,193,960
-1,096,291
-7% -$4.02M
INDA icon
67
iShares MSCI India ETF
INDA
$6.77B
$30.7M 0.17%
741,588
+209,070
+39% +$9.36M
UL icon
68
Unilever
UL
$138B
$28.7M 0.16%
560,139
-1,696,282
-75% -$94.4M
ACWI icon
69
iShares MSCI ACWI ETF
ACWI
$33.5B
$10.8M 0.06%
107,748
-62,873
-37% -$6.26M
NBIS
70
Nebius Group N.V.
NBIS
$61.5B
$9.95M 0.05%
8,904,037
-171,083
-2% -$8.12M
CBD
71
DELISTED
Companhia Brasileira de Distribuicao
CBD
$8.48M 0.05%
2,163,495
-1,362,792
-39% -$5.78M
BIDU icon
72
Baidu
BIDU
$33.7B
$7.86M 0.04%
59,443
-1,823,743
-97% -$275M
NTES icon
73
NetEase
NTES
$76.4B
$7.54M 0.04%
84,122
-2,848
-3% -$271K
EC icon
74
Ecopetrol
EC
$35.5B
$7.06M 0.04%
467,739
+14,772
+3% +$233K
MFC icon
75
Manulife Financial
MFC
$73.5B
$6.84M 0.04%
361,900
+350,600
+3,103% +$7.18M
1 2
3
4 5

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VAS
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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 Q1 2022 Portfolio in Review

As of Q1 2022, Harding Loevner held 168 positions worth $18.2B, down 30% from $26.1B the previous quarter. Its ten largest holdings account for 37% of the portfolio.

Harding Loevner withdrew a net $2.26B in Q1 2022, closing 15 positions and reducing 80 holdings. Its most notable exit was Royal Dutch Shell PLC ADS Class B, an estimated $137M position sold in full.

By sector, the portfolio is most concentrated in Technology at 23% of assets, down from 26% a quarter earlier, followed by Financials and Healthcare.

Against the trend, Harding Loevner opened a new position in lululemon athletica worth $162M.

  • Harding Loevner's largest Q1 2022 buy was lululemon athletica: 547,976 shares worth $162M.
  • Harding Loevner added most to Rockwell Automation in Q1 2022, an estimated $255M increase.
  • Harding Loevner's biggest Q1 2022 reduction was Check Point Software Technologies, cutting an estimated $378M.
  • Harding Loevner fully exited Royal Dutch Shell PLC ADS Class B in Q1 2022, selling an estimated $137M.
  • Harding Loevner's ten largest holdings make up 37% of its $18.2B portfolio in Q1 2022.
  • Harding Loevner opened 8 new positions and closed 15 in Q1 2022.
  • Harding Loevner's portfolio value fell 30% quarter-over-quarter to $18.2B.

Based on Harding Loevner's 13F filing for Q1 2022, filed 16 May 2022.