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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
+13.91%
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
$17.8B
AUM Growth
+$2.68B
Cap. Flow
+$589M
Cap. Flow %
3.3%
Top 10 Hldgs %
39.7%
Holding
75
New
4
Increased
8
Reduced
60
Closed
3

Top Buys

Rank Stock Value
1
BNTX icon
BioNTech
BNTX
+$397M
2
TSM icon
TSMC
TSM
+$192M
3
SONY icon
Sony
SONY
+$189M
4
HDB icon
HDFC Bank
HDB
+$137M
5
VLTO icon
Veralto
VLTO
+$28.5M

Top Sells

Rank Stock Value
1
VEU icon
Vanguard FTSE All-World ex-US ETF
VEU
+$44.5M
2
DHR icon
Danaher
DHR
+$36.9M
3
FMX icon
Fomento Económico Mexicano
FMX
+$33.8M
4
BHP icon
BHP
BHP
+$20.3M
5
ALC icon
Alcon
ALC
+$17M

Sector Composition

Rank Sector Weight
1 Technology 26.71%
2 Healthcare 18.75%
3 Financials 14.3%
4 Communication Services 9.02%
5 Industrials 8.5%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HON icon
51
Honeywell
HON
$68.9B
$124M 0.7%
629,832
-2,999
-0.5% -$541K
TLK icon
52
Telkom Indonesia
TLK
$14.4B
$114M 0.64%
4,477,848
-64,441
-1% -$1.55M
NKE icon
53
Nike
NKE
$58.7B
$111M 0.62%
1,025,471
-17,003
-2% -$1.83M
EW icon
54
Edwards Lifesciences
EW
$52B
$111M 0.62%
1,452,716
-23,843
-2% -$1.66M
NOC icon
55
Northrop Grumman
NOC
$77.5B
$105M 0.59%
225,280
-2,209
-1% -$1.04M
GMAB icon
56
Genmab
GMAB
$20.4B
$97.6M 0.55%
3,289,895
+85,665
+3% +$2.69M
TS icon
57
Tenaris
TS
$27.2B
$78.6M 0.44%
2,262,621
-279,633
-11% -$9.37M
ITUB icon
58
Itaú Unibanco
ITUB
$82.7B
$60.3M 0.34%
9,823,255
-1,134,389
-10% -$6.01M
EPAM icon
59
EPAM Systems
EPAM
$5.92B
$55.7M 0.31%
187,435
-20,008
-10% -$5.08M
ZTO icon
60
ZTO Express
ZTO
$16.3B
$33M 0.19%
1,552,385
-224,211
-13% -$5.09M
VLTO icon
61
Veralto
VLTO
$24B
$31.4M 0.18%
+381,648
New +$28.5M
VEU icon
62
Vanguard FTSE All-World ex-US ETF
VEU
$70.4B
$24.5M 0.14%
437,903
-840,380
-66% -$44.5M
CIB icon
63
Grupo Cibest SA
CIB
$23B
$24.3M 0.14%
790,609
-63,654
-7% -$1.73M
ACWX icon
64
iShares MSCI ACWI ex US ETF
ACWX
$12.5B
$17.4M 0.1%
+341,142
New +$16.4M
SCZ icon
65
iShares MSCI EAFE Small-Cap ETF
SCZ
$13.3B
$10.3M 0.06%
+166,388
New +$9.5M
BABA icon
66
Alibaba
BABA
$296B
$10.3M 0.06%
132,552
-14,806
-10% -$1.18M
INDA icon
67
iShares MSCI India ETF
INDA
$6.61B
$7.73M 0.04%
158,318
+17,272
+12% +$786K
EFG icon
68
iShares MSCI EAFE Growth ETF
EFG
$17.1B
$4.93M 0.03%
50,855
+42,031
+476% +$3.77M
ST icon
69
Sensata Technologies
ST
$5.97B
$2.34M 0.01%
62,373
-1,797
-3% -$62.1K
VEA icon
70
Vanguard FTSE Developed Markets ETF
VEA
$238B
$603K ﹤0.01%
12,727
-9,289
-42% -$416K
NBIS
71
Nebius Group N.V.
NBIS
$56.9B
$165K ﹤0.01%
530,966
-4,273,337
-89% -$1.33M
BBD icon
72
Banco Bradesco
BBD
$34.4B
$45.7K ﹤0.01%
13,068
+942
+8% +$2.96K
ACWI icon
73
iShares MSCI ACWI ETF
ACWI
$33.3B
– –
-24,860
Closed -$2.3M
EFA icon
74
iShares MSCI EAFE ETF
EFA
$79.6B
– –
-3,804
Closed -$262K
SAN icon
75
Banco Santander
SAN
$213B
– –
-49,212
Closed -$185K
1 2
3

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 Q4 2023 Portfolio in Review

As of Q4 2023, Harding Loevner held 75 positions worth $17.8B, up 18% from $15.1B the previous quarter. Its ten largest holdings account for 40% of the portfolio.

Harding Loevner deployed $589M of net new capital in Q4 2023, opening 4 new positions and adding to 8 existing holdings. Its largest new stake was BioNTech: 3,944,474 shares worth $411M.

By sector, the portfolio is most concentrated in Technology at 27% of assets, up from 24% a quarter earlier, followed by Healthcare and Financials.

On the sell side, the largest reduction was Vanguard FTSE All-World ex-US ETF, an estimated $44.5M trimmed.

  • Harding Loevner's largest Q4 2023 buy was BioNTech: 3,944,474 shares worth $411M.
  • Harding Loevner added most to TSMC in Q4 2023, an estimated $192M increase.
  • Harding Loevner's biggest Q4 2023 reduction was Vanguard FTSE All-World ex-US ETF, cutting an estimated $44.5M.
  • Harding Loevner fully exited iShares MSCI ACWI ETF in Q4 2023, selling an estimated $2.3M.
  • Harding Loevner's ten largest holdings make up 40% of its $17.8B portfolio in Q4 2023.
  • Harding Loevner opened 4 new positions and closed 3 in Q4 2023.
  • Harding Loevner's portfolio value rose 18% quarter-over-quarter to $17.8B.

Based on Harding Loevner's 13F filing for Q4 2023, filed 14 Feb 2024.