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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
+12.11%
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
$17.6B
AUM Growth
+$212M
Cap. Flow
-$1.39B
Cap. Flow %
-7.94%
Top 10 Hldgs %
38.38%
Holding
85
New
3
Increased
21
Reduced
49
Closed
11

Top Buys

Rank Stock Value
1
LIN icon
Linde
LIN
+$217M
2
ABBV icon
AbbVie
ABBV
+$154M
3
NOC icon
Northrop Grumman
NOC
+$121M
4
CME icon
CME Group
CME
+$113M
5
BAP icon
Credicorp
BAP
+$86.7M

Top Sells

Rank Stock Value
1
FRC
First Republic Bank
FRC
+$400M
2
IBN icon
ICICI Bank
IBN
+$299M
3
SIVB
SVB Financial Group
SIVB
+$273M
4
HDB icon
HDFC Bank
HDB
+$200M
5
LULU icon
lululemon athletica
LULU
+$180M

Sector Composition

Rank Sector Weight
1 Technology 25.82%
2 Healthcare 17.95%
3 Financials 14.14%
4 Industrials 9.73%
5 Communication Services 9.33%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ASR icon
76
Grupo Aeroportuario del Sureste
ASR
$7.72B
– –
-190,475
Closed -$44.4M
CHKP icon
77
Check Point Software Technologies
CHKP
$14B
– –
-6,338
Closed -$800K
EFA icon
78
iShares MSCI EAFE ETF
EFA
$80.1B
– –
-42,567
Closed -$2.79M
EFG icon
79
iShares MSCI EAFE Growth ETF
EFG
$17B
– –
-36,646
Closed -$3.07M
LULU icon
80
lululemon athletica
LULU
$11.1B
– –
-563,139
Closed -$180M
VRSK icon
81
Verisk Analytics
VRSK
$24.2B
– –
-838,580
Closed -$148M
VT icon
82
Vanguard Total World Stock ETF
VT
$82.5B
– –
-3,839
Closed -$331K
WDS icon
83
Woodside Energy
WDS
$43.3B
– –
-5,055,919
Closed -$122M
FRC
84
DELISTED
First Republic Bank
FRC
– –
-3,285,248
Closed -$400M
SIVB
85
DELISTED
SVB Financial Group
SIVB
– –
-1,186,039
Closed -$273M
1 2 3
4

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Harding Loevner's Q1 2023 Portfolio in Review

As of Q1 2023, Harding Loevner held 85 positions worth $17.6B, up 1.2% from $17.4B the previous quarter. Its ten largest holdings account for 38% of the portfolio.

Harding Loevner withdrew a net $1.39B in Q1 2023, closing 11 positions and reducing 49 holdings. Its most notable exit was First Republic Bank, an estimated $400M position sold in full.

By sector, the portfolio is most concentrated in Technology at 26% of assets, up from 22% a quarter earlier, followed by Healthcare and Financials.

Against the trend, Harding Loevner opened a new position in AbbVie worth $161M.

  • Harding Loevner's largest Q1 2023 buy was AbbVie: 1,007,317 shares worth $161M.
  • Harding Loevner added most to Linde in Q1 2023, an estimated $217M increase.
  • Harding Loevner's biggest Q1 2023 reduction was ICICI Bank, cutting an estimated $299M.
  • Harding Loevner fully exited First Republic Bank in Q1 2023, selling an estimated $400M.
  • Harding Loevner's ten largest holdings make up 38% of its $17.6B portfolio in Q1 2023.
  • Harding Loevner opened 3 new positions and closed 11 in Q1 2023.
  • Harding Loevner's portfolio value rose 1.2% quarter-over-quarter to $17.6B.

Based on Harding Loevner's 13F filing for Q1 2023, filed 15 May 2023.