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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 icon
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
ACWI icon
76
iShares MSCI ACWI ETF
ACWI
$33.3B
$2.58M 0.01%
32,240
+14,825
+85% +$1.17M
2019 Q3
4 quarters
CLB icon
77
Core Laboratories
CLB
$463M
$1.28M ﹤0.01%
84,152
-1,064
-1% -$22.3K
2018 Q2
9 quarters
ST icon
78
Sensata Technologies
ST
$6.15B
$937K ﹤0.01%
21,715
– –
2018 Q1
10 quarters
VEA icon
79
Vanguard FTSE Developed Markets ETF
VEA
$230B
$457K ﹤0.01%
11,172
+3,179
+40% +$130K
2019 Q2
5 quarters
UGP icon
80
Ultrapar
UGP
$8.42B
$311K ﹤0.01%
91,037
+7,387
+9% +$27.2K
2017 Q2
13 quarters
EFA icon
81
iShares MSCI EAFE ETF
EFA
$76.4B
$255K ﹤0.01%
+4,007
New +$256K
2020 Q3
0 quarters
JD icon
82
JD.com
JD
$36.6B
$190K ﹤0.01%
2,446
-362
-13% -$25.2K
2020 Q2
1 quarter
KOF icon
83
Coca-Cola Femsa
KOF
$23.1B
$186K ﹤0.01%
4,577
-3,523
-43% -$148K
2015 Q3
20 quarters
GRFS icon
84
Grifois
GRFS
$5.08B
$157K ﹤0.01%
9,002
+8,905
+9,180% +$157K
2014 Q2
25 quarters
CL icon
85
Colgate-Palmolive
CL
$70.4B
$115K ﹤0.01%
1,485
-1,920,528
-100% -$146M
2013 Q2
29 quarters
ASML icon
86
ASML
ASML
$684B
$112K ﹤0.01%
302
-137
-31% -$51.2K
2017 Q2
13 quarters
TTD icon
87
Trade Desk
TTD
$5.71B
$85K ﹤0.01%
1,630
-6,040,240
-100% -$276M
2020 Q1
2 quarters
SAN icon
88
Banco Santander
SAN
$195B
$83K ﹤0.01%
46,597
-21,600
-32% -$46.4K
2019 Q3
4 quarters
AME icon
89
Ametek
AME
$57B
$77K ﹤0.01%
770
– –
2020 Q2
1 quarter
APD icon
90
Air Products & Chemicals
APD
$62.6B
$75K ﹤0.01%
253
-67
-21% -$19.3K
2017 Q2
13 quarters
JNJ icon
91
Johnson & Johnson
JNJ
$630B
$75K ﹤0.01%
501
-299
-37% -$44.2K
2017 Q2
13 quarters
CHD icon
92
Church & Dwight Co
CHD
$23.3B
$74K ﹤0.01%
787
-113
-13% -$10.3K
2020 Q1
2 quarters
PG icon
93
Procter & Gamble
PG
$351B
$74K ﹤0.01%
532
-800
-60% -$106K
2017 Q2
13 quarters
HON icon
94
Honeywell
HON
$65.8B
$71K ﹤0.01%
458
– –
2020 Q2
1 quarter
DHR icon
95
Danaher
DHR
$155B
$70K ﹤0.01%
369
– –
2018 Q1
10 quarters
MCD icon
96
McDonald's
MCD
$166B
$69K ﹤0.01%
313
– –
2017 Q2
13 quarters
EW icon
97
Edwards Lifesciences
EW
$49.1B
$68K ﹤0.01%
846
– –
2020 Q2
1 quarter
IMO icon
98
Imperial Oil
IMO
$59.5B
$68K ﹤0.01%
5,700
-1,900
-25% -$29.8K
2020 Q1
2 quarters
ROK icon
99
Rockwell Automation
ROK
$48B
$65K ﹤0.01%
293
– –
2020 Q2
1 quarter
ECL icon
100
Ecolab
ECL
$79B
$64K ﹤0.01%
322
– –
2017 Q2
13 quarters
2 3
4
5 6

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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
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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
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AAM
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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.