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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
-18.07%
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
$16.2B
AUM Growth
-$1.95B
Cap. Flow
-$1.12B
Cap. Flow %
-6.93%
Top 10 Hldgs %
39.27%
Holding
158
New
5
Increased
12
Reduced
70
Closed
5
Avg Time Held
14.4 quarters
Top 10 Avg Time Held
9.1 quarters
Top 20 Avg Time Held
9 quarters

Top Buys

Rank Stock Value
1
WDS icon
Woodside Energy
WDS
+$123M
2
MFC icon
Manulife Financial
MFC
+$76.3M
3
FMX icon
Fomento Económico Mexicano
FMX
+$60.1M
4
ACWX icon
iShares MSCI ACWI ex US ETF
ACWX
+$48.3M
5
HDB icon
HDFC Bank
HDB
+$43.8M

Top Sells

Rank Stock Value
1
META icon
Meta Platforms (Facebook)
META
+$338M
2
CHKP icon
Check Point Software Technologies
CHKP
+$257M
3
BHP icon
BHP
BHP
+$142M
4
ABEV icon
Ambev
ABEV
+$96.9M
5
CME icon
CME Group
CME
+$66.5M

Sector Composition

Rank Sector Weight
1 Technology 21.76%
2 Financials 20.1%
3 Healthcare 17.83%
4 Industrials 9.33%
5 Materials 6.89%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
CLB icon
76
Core Laboratories
CLB
$463M
$2.29M 0.01%
115,679
+3,691
+3% +$98.1K
2018 Q2
16 quarters
VEA icon
77
Vanguard FTSE Developed Markets ETF
VEA
$230B
$2.04M 0.01%
50,078
+21,610
+76% +$961K
2019 Q2
12 quarters
CHKP icon
78
Check Point Software Technologies
CHKP
$14B
$2M 0.01%
16,383
-1,999,387
-99% -$257M
2016 Q3
23 quarters
EC icon
79
Ecopetrol
EC
$34.8B
$1.73M 0.01%
159,637
-308,102
-66% -$4.9M
2013 Q2
36 quarters
EFA icon
80
iShares MSCI EAFE ETF
EFA
$76.4B
$644K ﹤0.01%
10,301
+4,957
+93% +$337K
2021 Q4
2 quarters
VT icon
81
Vanguard Total World Stock ETF
VT
$81.6B
$424K ﹤0.01%
4,970
-1,520
-23% -$141K
2021 Q4
2 quarters
IOO icon
82
iShares Global 100 ETF
IOO
$9.31B
$224K ﹤0.01%
+3,489
New +$242K
2022 Q2
0 quarters
NBIS
83
Nebius Group N.V.
NBIS
$60.1B
$217K ﹤0.01%
8,595,712
-308,325
-3% -$7.78K
2014 Q1
33 quarters
BNTX icon
84
BioNTech
BNTX
$24.4B
$179K ﹤0.01%
+1,202
New +$184K
2022 Q2
0 quarters
SAN icon
85
Banco Santander
SAN
$195B
$138K ﹤0.01%
49,212
– –
2019 Q3
11 quarters
NTES icon
86
NetEase
NTES
$79.6B
$133K ﹤0.01%
1,424
-82,698
-98% -$7.87M
2019 Q1
13 quarters
ABBV icon
87
AbbVie
ABBV
$489B
$98K ﹤0.01%
637
– –
2020 Q1
9 quarters
BWA icon
88
BorgWarner
BWA
$12.5B
$85K ﹤0.01%
2,890
– –
2018 Q1
17 quarters
BMY icon
89
Bristol-Myers Squibb
BMY
$121B
$84K ﹤0.01%
1,086
– –
2021 Q4
2 quarters
NBIX icon
90
Neurocrine Biosciences
NBIX
$14.5B
$79K ﹤0.01%
810
– –
2020 Q1
9 quarters
RGA icon
91
Reinsurance Group of America
RGA
$16.7B
$79K ﹤0.01%
671
– –
2017 Q2
20 quarters
IT icon
92
Gartner
IT
$12.1B
$75K ﹤0.01%
311
– –
2022 Q1
1 quarter
OLLI icon
93
Ollie's Bargain Outlet
OLLI
$5.07B
$73K ﹤0.01%
1,243
– –
2021 Q1
5 quarters
MRK icon
94
Merck
MRK
$359B
$67K ﹤0.01%
734
– –
2018 Q4
14 quarters
JPM icon
95
JPMorgan Chase
JPM
$885B
$66K ﹤0.01%
589
– –
2017 Q2
20 quarters
ELAN icon
96
Elanco Animal Health
ELAN
$11.5B
$63K ﹤0.01%
3,234
– –
2019 Q2
12 quarters
HEI icon
97
HEICO Corp
HEI
$41.7B
$55K ﹤0.01%
419
– –
2018 Q1
17 quarters
TER icon
98
Teradyne
TER
$63B
$55K ﹤0.01%
618
– –
2021 Q4
2 quarters
MBUU icon
99
Malibu Boats
MBUU
$426M
$49K ﹤0.01%
939
– –
2021 Q3
3 quarters
ZTS icon
100
Zoetis
ZTS
$30.9B
$45K ﹤0.01%
261
– –
2017 Q2
20 quarters
2 3
4
5 6

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VAS
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DPIM
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CA
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SCM
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FCM
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URS
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AAM
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Harding Loevner's Q2 2022 Portfolio in Review

As of Q2 2022, Harding Loevner held 158 positions worth $16.2B, down 11% from $18.2B the previous quarter. Its ten largest holdings account for 39% of the portfolio.

Harding Loevner withdrew a net $1.12B in Q2 2022, closing 5 positions and reducing 70 holdings. Its most notable exit was Unilever, an estimated $28.7M position sold in full.

By sector, the portfolio is most concentrated in Technology at 22% of assets, down from 23% a quarter earlier, followed by Financials and Healthcare.

Against the trend, Harding Loevner opened a new position in Woodside Energy worth $117M.

  • Harding Loevner's largest Q2 2022 buy was Woodside Energy: 5,440,187 shares worth $117M.
  • Harding Loevner added most to Manulife Financial in Q2 2022, an estimated $76.3M increase.
  • Harding Loevner's biggest Q2 2022 reduction was Meta Platforms (Facebook), cutting an estimated $338M.
  • Harding Loevner fully exited Unilever in Q2 2022, selling an estimated $28.7M.
  • Harding Loevner's ten largest holdings make up 39% of its $16.2B portfolio in Q2 2022.
  • Harding Loevner opened 5 new positions and closed 5 in Q2 2022.
  • Harding Loevner's portfolio value fell 11% quarter-over-quarter to $16.2B.

Based on Harding Loevner's 13F filing for Q2 2022, filed 15 Aug 2022.