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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
-1.52%
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
$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
Avg Time Held
15 quarters
Top 10 Avg Time Held
7.5 quarters
Top 20 Avg Time Held
10.7 quarters

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 21.24%
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 Held Since
EC icon
76
Ecopetrol
EC
$34.8B
$6.71M 0.03%
467,665
-45,615
-9% -$619K
2013 Q2
33 quarters
GMAB icon
77
Genmab
GMAB
$22.8B
$5.77M 0.02%
132,023
-267
-0.2% -$12K
2020 Q4
3 quarters
ACWI icon
78
iShares MSCI ACWI ETF
ACWI
$33.3B
$5.4M 0.02%
54,040
+13,023
+32% +$1.34M
2019 Q3
8 quarters
TCOM icon
79
Trip.com Group
TCOM
$24.5B
$5.03M 0.02%
163,566
-20,921
-11% -$602K
2013 Q3
32 quarters
ST icon
80
Sensata Technologies
ST
$6.15B
$3.36M 0.01%
61,390
+996
+2% +$57.3K
2018 Q1
14 quarters
CLB icon
81
Core Laboratories
CLB
$463M
$2.87M 0.01%
103,535
+1,691
+2% +$51.5K
2018 Q2
13 quarters
VEA icon
82
Vanguard FTSE Developed Markets ETF
VEA
$230B
$276K ﹤0.01%
5,472
+1,611
+42% +$83.8K
2019 Q2
9 quarters
SAN icon
83
Banco Santander
SAN
$195B
$184K ﹤0.01%
50,835
– –
2019 Q3
8 quarters
JPM icon
84
JPMorgan Chase
JPM
$885B
$105K ﹤0.01%
641
– –
2017 Q2
17 quarters
AVGO icon
85
Broadcom
AVGO
$1.73T
$101K ﹤0.01%
2,080
– –
2021 Q2
1 quarter
ABBV icon
86
AbbVie
ABBV
$489B
$91K ﹤0.01%
847
– –
2020 Q1
6 quarters
RGA icon
87
Reinsurance Group of America
RGA
$16.7B
$90K ﹤0.01%
813
– –
2017 Q2
17 quarters
UGP icon
88
Ultrapar
UGP
$8.42B
$88K ﹤0.01%
32,450
+8,042
+33% +$25.4K
2017 Q2
17 quarters
XOM icon
89
ExxonMobil
XOM
$695B
$87K ﹤0.01%
1,474
-2,899
-66% -$165K
2013 Q2
33 quarters
SBNY
90
DELISTED
Signature Bank
SBNY
$84K ﹤0.01%
308
– –
2016 Q1
22 quarters
JNJ icon
91
Johnson & Johnson
JNJ
$630B
$81K ﹤0.01%
501
– –
2017 Q2
17 quarters
OLLI icon
92
Ollie's Bargain Outlet
OLLI
$5.07B
$73K ﹤0.01%
1,217
+560
+85% +$45.3K
2021 Q1
2 quarters
BWA icon
93
BorgWarner
BWA
$12.5B
$70K ﹤0.01%
1,832
– –
2018 Q1
14 quarters
APD icon
94
Air Products & Chemicals
APD
$62.6B
$65K ﹤0.01%
253
– –
2017 Q2
17 quarters
SBUX icon
95
Starbucks
SBUX
$103B
$64K ﹤0.01%
578
– –
2020 Q3
4 quarters
MBUU icon
96
Malibu Boats
MBUU
$426M
$60K ﹤0.01%
+861
New +$64.7K
2021 Q3
0 quarters
HEI icon
97
HEICO Corp
HEI
$41.7B
$55K ﹤0.01%
419
– –
2018 Q1
14 quarters
MRK icon
98
Merck
MRK
$359B
$55K ﹤0.01%
734
– –
2018 Q4
11 quarters
NBIX icon
99
Neurocrine Biosciences
NBIX
$14.5B
$54K ﹤0.01%
562
– –
2020 Q1
6 quarters
ZTS icon
100
Zoetis
ZTS
$30.9B
$51K ﹤0.01%
261
– –
2017 Q2
17 quarters
2 3
4
5 6

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DPIM
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CA
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SCM
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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.