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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
+21.57%
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
$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
Avg Time Held
13.8 quarters
Top 10 Avg Time Held
7.9 quarters
Top 20 Avg Time Held
9.4 quarters

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 Financials 26.48%
2 Technology 25.27%
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 Held Since
EFA icon
76
iShares MSCI EAFE ETF
EFA
$76.4B
$686K ﹤0.01%
9,397
+5,390
+135% +$369K
2020 Q3
1 quarter
VEA icon
77
Vanguard FTSE Developed Markets ETF
VEA
$230B
$359K ﹤0.01%
7,610
-3,562
-32% -$157K
2019 Q2
6 quarters
JD icon
78
JD.com
JD
$36.6B
$215K ﹤0.01%
2,446
– –
2020 Q2
2 quarters
ASML icon
79
ASML
ASML
$684B
$147K ﹤0.01%
302
– –
2017 Q2
14 quarters
SAN icon
80
Banco Santander
SAN
$195B
$142K ﹤0.01%
46,596
-1
-0% -$3
2019 Q3
5 quarters
TTD icon
81
Trade Desk
TTD
$5.71B
$119K ﹤0.01%
1,490
-140
-9% -$10.6K
2020 Q1
3 quarters
UGP icon
82
Ultrapar
UGP
$8.42B
$111K ﹤0.01%
24,408
-66,629
-73% -$253K
2017 Q2
14 quarters
RGA icon
83
Reinsurance Group of America
RGA
$16.7B
$91K ﹤0.01%
782
+367
+88% +$41K
2017 Q2
14 quarters
SBNY
84
DELISTED
Signature Bank
SBNY
$91K ﹤0.01%
671
– –
2016 Q1
19 quarters
JPM icon
85
JPMorgan Chase
JPM
$885B
$81K ﹤0.01%
641
– –
2017 Q2
14 quarters
JNJ icon
86
Johnson & Johnson
JNJ
$630B
$79K ﹤0.01%
501
– –
2017 Q2
14 quarters
ADP icon
87
Automatic Data Processing
ADP
$107B
$74K ﹤0.01%
418
– –
2017 Q4
12 quarters
IT icon
88
Gartner
IT
$12.1B
$74K ﹤0.01%
461
– –
2020 Q3
1 quarter
PG icon
89
Procter & Gamble
PG
$351B
$74K ﹤0.01%
532
– –
2017 Q2
14 quarters
DHR icon
90
Danaher
DHR
$155B
$73K ﹤0.01%
369
– –
2018 Q1
11 quarters
ROK icon
91
Rockwell Automation
ROK
$48B
$73K ﹤0.01%
293
– –
2020 Q2
2 quarters
CL icon
92
Colgate-Palmolive
CL
$70.4B
$71K ﹤0.01%
825
-660
-44% -$54.6K
2013 Q2
30 quarters
ECL icon
93
Ecolab
ECL
$79B
$70K ﹤0.01%
322
– –
2017 Q2
14 quarters
APD icon
94
Air Products & Chemicals
APD
$62.6B
$69K ﹤0.01%
253
– –
2017 Q2
14 quarters
CHD icon
95
Church & Dwight Co
CHD
$23.3B
$69K ﹤0.01%
787
– –
2020 Q1
3 quarters
HON icon
96
Honeywell
HON
$65.8B
$67K ﹤0.01%
333
-125
-27% -$22.7K
2020 Q2
2 quarters
MCD icon
97
McDonald's
MCD
$166B
$67K ﹤0.01%
313
– –
2017 Q2
14 quarters
BWA icon
98
BorgWarner
BWA
$12.5B
$62K ﹤0.01%
1,832
– –
2018 Q1
11 quarters
SBUX icon
99
Starbucks
SBUX
$103B
$62K ﹤0.01%
578
– –
2020 Q3
1 quarter
MRK icon
100
Merck
MRK
$359B
$60K ﹤0.01%
769
– –
2018 Q4
8 quarters
2 3
4
5 6

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 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 Financials at 26% of assets, up from 17% a quarter earlier, followed by Technology 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.