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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
+12.7%
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
$17.1B
AUM Growth
-$439M
(-2.5%)
Cap. Flow
-$2.13B
Cap. Flow
% of AUM
-12.42%
Top 10 Holdings %
Top 10 Hldgs %
39.82%
Holding
76
New
2
Increased
7
Reduced
59
Closed
7
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Credicorp
BAP
|
+$194M |
| 2 |
Estee Lauder
EL
|
+$168M |
| 3 |
Danaher
DHR
|
+$144M |
| 4 |
Linde
LIN
|
+$92.3M |
| 5 |
Amazon
AMZN
|
+$47.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Illumina
ILMN
|
+$253M |
| 2 |
Synopsys
SNPS
|
+$179M |
| 3 |
Trade Desk
TTD
|
+$164M |
| 4 |
PayPal
PYPL
|
+$160M |
| 5 |
Nike
NKE
|
+$112M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 25.06% |
| 2 | Healthcare | 17.65% |
| 3 | Financials | 14.69% |
| 4 | Consumer Staples | 9.68% |
| 5 | Industrials | 8.91% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Northrop Grumman
NOC
$81.2B
| $118M | 0.69% |
259,183
-2,257
| -0.9% | -$1.02M |
|
52
AbbVie
ABBV
$435B
| $114M | 0.67% |
847,893
-159,424
| -16% | -$23.4M |
|
53
Haleon
HLN
$44.2B
| $111M | 0.65% |
13,260,374
+3,554,361
| +37% | +$30.3M |
|
54
Tenaris
TS
$26.8B
| $92.7M | 0.54% |
3,096,501
+275,341
| +10% | +$7.65M |
|
55
Itaú Unibanco
ITUB
$87.5B
| $70.9M | 0.41% |
13,605,670
-4,833,412
| -26% | -$22.8M |
|
56
EPAM Systems
EPAM
$5.03B
| $56.3M | 0.33% |
250,624
-13,554
| -5% | -$3.41M |
|
57
ZTO Express
ZTO
$17.9B
| $54.4M | 0.32% |
2,167,649
-884,265
| -29% | -$24.3M |
|
58
Vanguard FTSE All-World ex-US ETF
VEU
$68.5B
| $34.3M | 0.2% |
630,582
-213,755
| -25% | -$11.6M |
|
59
Grupo Cibest SA
CIB
$21.1B
| $27.6M | 0.16% |
1,035,570
-381,328
| -27% | -$9.95M |
|
60
iShares MSCI India ETF
INDA
$6.63B
| $21.7M | 0.13% |
497,596
-95,325
| -16% | -$3.95M |
|
61
Alibaba
BABA
$308B
| $14.2M | 0.08% |
170,708
-79,108
| -32% | -$6.92M |
|
62
Genmab
GMAB
$19.5B
| $6.39M | 0.04% |
168,121
-2,029
| -1% | -$80.9K |
|
63
Sony
SONY
$138B
| $3.97M | 0.02% |
+220,450
| New | +$4.13M |
|
64
Sensata Technologies
ST
$6.79B
| $3.15M | 0.02% |
70,017
-2,157
| -3% | -$94.6K |
|
65
iShares MSCI ACWI ETF
ACWI
$33.5B
| $1.06M | 0.01% |
11,070
-13,911
| -56% | -$1.29M |
|
66
Vanguard FTSE Developed Markets ETF
VEA
$236B
| $460K | ﹤0.01% |
9,953
-448
| -4% | -$20.6K |
|
67
Banco Santander
SAN
$210B
| $183K | ﹤0.01% |
49,212
| – | – |
|
|
NBIS
68
Nebius Group N.V.
NBIS
$47.7B
| $180K | ﹤0.01% |
7,173,854
-742,026
| -9% | -$18.7K |
|
69
Banco Bradesco
BBD
$36.7B
| $54.5K | ﹤0.01% |
15,761
-24,217,390
| -100% | -$74.8M |
|
70
Align Technology
ALGN
$12.3B
| – | – |
-19,034
| Closed | -$6.35M |
|
71
Banco Santander Chile
BSAC
$16.6B
| – | – |
-441,748
| Closed | -$7.88M |
|
72
Core Laboratories
CLB
$521M
| – | – |
-124,004
| Closed | -$2.73M |
|
73
Etsy
ETSY
$7.85B
| – | – |
-453,319
| Closed | -$50.5M |
|
|
74
Illumina
ILMN
$28.4B
| – | – |
-1,120,397
| Closed | -$253M |
|
|
75
PayPal
PYPL
$50.5B
| – | – |
-2,111,005
| Closed | -$160M |
|
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Harding Loevner's Q2 2023 Portfolio in Review
As of Q2 2023, Harding Loevner held 76 positions worth $17.1B, down 2.5% from $17.6B the previous quarter. Its ten largest holdings account for 40% of the portfolio.
Harding Loevner withdrew a net $2.13B in Q2 2023, closing 7 positions and reducing 59 holdings. Its most notable exit was Illumina, an estimated $253M position sold in full.
By sector, the portfolio is most concentrated in Technology at 25% of assets, down from 26% a quarter earlier, followed by Healthcare and Financials.
Against the trend, Harding Loevner opened a new position in Estee Lauder worth $156M.
- Harding Loevner's largest Q2 2023 buy was Estee Lauder: 793,141 shares worth $156M.
- Harding Loevner added most to Credicorp in Q2 2023, an estimated $194M increase.
- Harding Loevner's biggest Q2 2023 reduction was Synopsys, cutting an estimated $179M.
- Harding Loevner fully exited Illumina in Q2 2023, selling an estimated $253M.
- Harding Loevner's ten largest holdings make up 40% of its $17.1B portfolio in Q2 2023.
- Harding Loevner opened 2 new positions and closed 7 in Q2 2023.
- Harding Loevner's portfolio value fell 2.5% quarter-over-quarter to $17.1B.
Based on Harding Loevner's 13F filing for Q2 2023, filed 14 Aug 2023.