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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
-1.52%
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
$25.1B
AUM Growth
-$1.52B
Cap. Flow
-$838M
Cap. Flow %
-3.35%
Top 10 Hldgs %
33.33%
Holding
164
New
7
Increased
19
Reduced
72
Closed
17

Top Buys

Rank Stock Value
1
NFLX icon
Netflix
NFLX
+$227M
2
CSGP icon
CoStar Group
CSGP
+$220M
3
AMAT icon
Applied Materials
AMAT
+$217M
4
BIDU icon
Baidu
BIDU
+$202M
5
PINS icon
Pinterest
PINS
+$118M

Top Sells

Rank Stock Value
1
EPAM icon
EPAM Systems
EPAM
+$291M
2
EL icon
Estee Lauder
EL
+$249M
3
VFC icon
VF Corp
VFC
+$188M
4
SIVB
SVB Financial Group
SIVB
+$144M
5
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$131M

Sector Composition

Rank Sector Weight
1 Technology 25.34%
2 Financials 18.07%
3 Communication Services 12.68%
4 Healthcare 11.87%
5 Consumer Discretionary 8.65%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EC icon
76
Ecopetrol
EC
$34.5B
$6.71M 0.03%
467,665
-45,615
-9% -$619K
GMAB icon
77
Genmab
GMAB
$19.5B
$5.77M 0.02%
132,023
-267
-0.2% -$12K
ACWI icon
78
iShares MSCI ACWI ETF
ACWI
$33.5B
$5.4M 0.02%
54,040
+13,023
+32% +$1.34M
TCOM icon
79
Trip.com Group
TCOM
$29.1B
$5.03M 0.02%
163,566
-20,921
-11% -$602K
ST icon
80
Sensata Technologies
ST
$6.79B
$3.36M 0.01%
61,390
+996
+2% +$57.3K
CLB icon
81
Core Laboratories
CLB
$521M
$2.87M 0.01%
103,535
+1,691
+2% +$51.5K
VEA icon
82
Vanguard FTSE Developed Markets ETF
VEA
$236B
$276K ﹤0.01%
5,472
+1,611
+42% +$83.8K
SAN icon
83
Banco Santander
SAN
$210B
$184K ﹤0.01%
50,835
– –
JPM icon
84
JPMorgan Chase
JPM
$950B
$105K ﹤0.01%
641
– –
AVGO icon
85
Broadcom
AVGO
$2.04T
$101K ﹤0.01%
2,080
– –
ABBV icon
86
AbbVie
ABBV
$435B
$91K ﹤0.01%
847
– –
RGA icon
87
Reinsurance Group of America
RGA
$16.1B
$90K ﹤0.01%
813
– –
UGP icon
88
Ultrapar
UGP
$6.54B
$88K ﹤0.01%
32,450
+8,042
+33% +$25.4K
XOM icon
89
ExxonMobil
XOM
$634B
$87K ﹤0.01%
1,474
-2,899
-66% -$165K
SBNY
90
DELISTED
Signature Bank
SBNY
$84K ﹤0.01%
308
– –
JNJ icon
91
Johnson & Johnson
JNJ
$625B
$81K ﹤0.01%
501
– –
OLLI icon
92
Ollie's Bargain Outlet
OLLI
$4.94B
$73K ﹤0.01%
1,217
+560
+85% +$45.3K
BWA icon
93
BorgWarner
BWA
$13.9B
$70K ﹤0.01%
1,832
– –
APD icon
94
Air Products & Chemicals
APD
$67.6B
$65K ﹤0.01%
253
– –
SBUX icon
95
Starbucks
SBUX
$120B
$64K ﹤0.01%
578
– –
MBUU icon
96
Malibu Boats
MBUU
$567M
$60K ﹤0.01%
+861
New +$64.7K
HEI icon
97
HEICO Corp
HEI
$51.4B
$55K ﹤0.01%
419
– –
MRK icon
98
Merck
MRK
$318B
$55K ﹤0.01%
734
– –
NBIX icon
99
Neurocrine Biosciences
NBIX
$16.6B
$54K ﹤0.01%
562
– –
ZTS icon
100
Zoetis
ZTS
$30B
$51K ﹤0.01%
261
– –
2 3
4
5 6

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FCM
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CCM
Cullen Capital Management New York $9.75B AUM 21.81% 1-Year Est. Return
URS
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MPI
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TIM
Thornburg Investment Management Santa Fe, New Mexico $9.63B AUM 35.65% 1-Year Est. Return
SC
Sculptor Capital New York $9.61B AUM 27.5% 1-Year Est. Return
TCA
Tortoise Capital Advisors Overland Park, Kansas $9.6B AUM 19.53% 1-Year Est. Return

Harding Loevner's Q3 2021 Portfolio in Review

As of Q3 2021, Harding Loevner held 164 positions worth $25.1B, down 5.7% from $26.6B the previous quarter. Its ten largest holdings account for 33% of the portfolio.

Harding Loevner withdrew a net $838M in Q3 2021, closing 17 positions and reducing 72 holdings. Its most notable exit was Estee Lauder, an estimated $249M position sold in full.

By sector, the portfolio is most concentrated in Technology at 25% of assets, up from 25% a quarter earlier, followed by Financials and Communication Services.

Against the trend, Harding Loevner opened a new position in Netflix worth $251M.

  • Harding Loevner's largest Q3 2021 buy was Netflix: 4,117,160 shares worth $251M.
  • Harding Loevner added most to CoStar Group in Q3 2021, an estimated $220M increase.
  • Harding Loevner's biggest Q3 2021 reduction was EPAM Systems, cutting an estimated $291M.
  • Harding Loevner fully exited Estee Lauder in Q3 2021, selling an estimated $249M.
  • Harding Loevner's ten largest holdings make up 33% of its $25.1B portfolio in Q3 2021.
  • Harding Loevner opened 7 new positions and closed 17 in Q3 2021.
  • Harding Loevner's portfolio value fell 5.7% quarter-over-quarter to $25.1B.

Based on Harding Loevner's 13F filing for Q3 2021, filed 15 Nov 2021.