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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
+9.85%
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
$27.7B
AUM Growth
+$6.83B
Cap. Flow
+$4.52B
Cap. Flow %
16.29%
Top 10 Hldgs %
32.19%
Holding
190
New
40
Increased
41
Reduced
54
Closed
12

Top Buys

Rank Stock Value
1
IFX
INFINEON TECH AG ADS(REP1 ORD)
IFX
+$374M
2
CME icon
CME Group
CME
+$267M
3
DASTY
DASSAULT SYSTEMES SA ADR
DASTY
+$245M
4
ETSY icon
Etsy
ETSY
+$210M
5
TW icon
Tradeweb Markets
TW
+$173M

Top Sells

Rank Stock Value
1
BABA icon
Alibaba
BABA
+$803M
2
TSM icon
TSMC
TSM
+$458M
3
NBIS
Nebius Group N.V.
NBIS
+$373M
4
TTD icon
Trade Desk
TTD
+$276M
5
NTES icon
NetEase
NTES
+$159M

Sector Composition

Rank Sector Weight
1 Technology 23.2%
2 Financials 15.99%
3 Consumer Discretionary 9.19%
4 Communication Services 8.07%
5 Healthcare 6.6%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BWA icon
101
BorgWarner
BWA
$13.9B
$62K ﹤0.01%
1,832
+581
+46% +$20K
JPM icon
102
JPMorgan Chase
JPM
$950B
$62K ﹤0.01%
641
– –
MRK icon
103
Merck
MRK
$318B
$61K ﹤0.01%
769
– –
ADP icon
104
Automatic Data Processing
ADP
$108B
$58K ﹤0.01%
418
– –
DPZ icon
105
Domino's
DPZ
$11.6B
$58K ﹤0.01%
137
– –
IT icon
106
Gartner
IT
$11.7B
$58K ﹤0.01%
+461
New +$58.6K
CGNX icon
107
Cognex
CGNX
$11.3B
$57K ﹤0.01%
876
– –
SBNY
108
DELISTED
Signature Bank
SBNY
$56K ﹤0.01%
671
– –
NBIX icon
109
Neurocrine Biosciences
NBIX
$16.6B
$54K ﹤0.01%
562
+306
+120% +$35.4K
ROL icon
110
Rollins
ROL
$18.2B
$53K ﹤0.01%
1,457
– –
SBUX icon
111
Starbucks
SBUX
$120B
$50K ﹤0.01%
+578
New +$46.1K
ADBE icon
112
Adobe
ADBE
$105B
$44K ﹤0.01%
90
– –
EMR icon
113
Emerson Electric
EMR
$88.3B
$44K ﹤0.01%
666
– –
HEI icon
114
HEICO Corp
HEI
$51.4B
$44K ﹤0.01%
419
– –
ZTS icon
115
Zoetis
ZTS
$30B
$43K ﹤0.01%
261
– –
ENS icon
116
EnerSys
ENS
$6.99B
$41K ﹤0.01%
606
– –
UNH icon
117
UnitedHealth
UNH
$370B
$41K ﹤0.01%
133
-13,529
-99% -$4.16M
RGA icon
118
Reinsurance Group of America
RGA
$16.1B
$40K ﹤0.01%
415
– –
ALTR
119
DELISTED
Altair Engineering Inc
ALTR
$40K ﹤0.01%
942
– –
IPGP icon
120
IPG Photonics
IPGP
$3.84B
$34K ﹤0.01%
202
+95
+89% +$15.7K
CSCO icon
121
Cisco
CSCO
$479B
$33K ﹤0.01%
845
– –
GWRE icon
122
Guidewire Software
GWRE
$14.2B
$32K ﹤0.01%
308
– –
ABBV icon
123
AbbVie
ABBV
$435B
$29K ﹤0.01%
332
+180
+118% +$16.9K
HCSG icon
124
Healthcare Services Group
HCSG
$1.53B
$28K ﹤0.01%
1,304
– –
IDXX icon
125
Idexx Laboratories
IDXX
$46.2B
$28K ﹤0.01%
70
– –
3 4
5
6 7

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DCP
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FCM
Frontier Capital Management Boston, Massachusetts $9.73B AUM 55.65% 1-Year Est. Return
CCM
Cullen Capital Management New York $9.75B AUM 21.81% 1-Year Est. Return
URS
Utah Retirement Systems Salt Lake City, Utah $9.78B AUM 28.72% 1-Year Est. Return
MPI
Mairs & Power Inc St Paul, Minnesota $9.79B AUM 20.6% 1-Year Est. Return
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 2020 Portfolio in Review

As of Q3 2020, Harding Loevner held 190 positions worth $27.7B, up 33% from $20.9B the previous quarter. Its ten largest holdings account for 32% of the portfolio.

Harding Loevner deployed $4.52B of net new capital in Q3 2020, opening 40 new positions and adding to 41 existing holdings. Its largest new stake was INFINEON TECH AG ADS(REP1 ORD): 13,249,533 shares worth $374M.

By sector, the portfolio is most concentrated in Technology at 23% of assets, down from 26% a quarter earlier, followed by Financials and Consumer Discretionary.

On the sell side, the largest reduction was Alibaba, an estimated $803M trimmed.

  • Harding Loevner's largest Q3 2020 buy was INFINEON TECH AG ADS(REP1 ORD): 13,249,533 shares worth $374M.
  • Harding Loevner added most to Illumina in Q3 2020, an estimated $114M increase.
  • Harding Loevner's biggest Q3 2020 reduction was Alibaba, cutting an estimated $803M.
  • Harding Loevner fully exited iShares MSCI ACWI ex US ETF in Q3 2020, selling an estimated $2.21M.
  • Harding Loevner's ten largest holdings make up 32% of its $27.7B portfolio in Q3 2020.
  • Harding Loevner opened 40 new positions and closed 12 in Q3 2020.
  • Harding Loevner's portfolio value rose 33% quarter-over-quarter to $27.7B.

Based on Harding Loevner's 13F filing for Q3 2020, filed 16 Nov 2020.