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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
+21.57%
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
$24.2B
AUM Growth
-$3.55B
Cap. Flow
-$7.17B
Cap. Flow %
-29.67%
Top 10 Hldgs %
38.91%
Holding
185
New
7
Increased
34
Reduced
57
Closed
38
Avg Time Held
13.8 quarters
Top 10 Avg Time Held
7.9 quarters
Top 20 Avg Time Held
9.4 quarters

Top Buys

Rank Stock Value
1
BHP icon
BHP
BHP
+$267M
2
EW icon
Edwards Lifesciences
EW
+$199M
3
ISRG icon
Intuitive Surgical
ISRG
+$198M
4
EDU icon
New Oriental
EDU
+$90.8M
5
AMZN icon
Amazon
AMZN
+$63.5M

Top Sells

Rank Stock Value
1
IFX
INFINEON TECH AG ADS(REP1 ORD)
IFX
+$374M
2
ROP icon
Roper Technologies
ROP
+$299M
3
CHL
China Mobile Limited
CHL
+$298M
4
DASTY
DASSAULT SYSTEMES SA ADR
DASTY
+$245M
5
ABT icon
Abbott
ABT
+$239M

Sector Composition

Rank Sector Weight
1 Financials 26.48%
2 Technology 25.27%
3 Communication Services 10.11%
4 Consumer Discretionary 9.99%
5 Healthcare 8.79%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
ABCM
101
DELISTED
Abcam PLC
ABCM
$59K ﹤0.01%
+2,748
New +$53.4K
2020 Q4
0 quarters
ROL icon
102
Rollins
ROL
$15.4B
$57K ﹤0.01%
1,456
-1
-0.1% -$39
2017 Q2
14 quarters
HEI icon
103
HEICO Corp
HEI
$41.7B
$55K ﹤0.01%
419
– –
2018 Q1
11 quarters
ALTR
104
DELISTED
Altair Engineering Inc
ALTR
$55K ﹤0.01%
942
– –
2019 Q3
5 quarters
EMR icon
105
Emerson Electric
EMR
$90.3B
$54K ﹤0.01%
666
– –
2018 Q1
11 quarters
NBIX icon
106
Neurocrine Biosciences
NBIX
$14.5B
$54K ﹤0.01%
562
– –
2020 Q1
3 quarters
DPZ icon
107
Domino's
DPZ
$10.2B
$53K ﹤0.01%
137
– –
2020 Q1
3 quarters
ENS icon
108
EnerSys
ENS
$6.48B
$50K ﹤0.01%
606
– –
2018 Q1
11 quarters
ADBE icon
109
Adobe
ADBE
$94.3B
$45K ﹤0.01%
90
– –
2017 Q2
14 quarters
IPGP icon
110
IPG Photonics
IPGP
$3.33B
$45K ﹤0.01%
202
– –
2014 Q2
26 quarters
ABT icon
111
Abbott
ABT
$172B
$43K ﹤0.01%
390
-2,202,079
-100% -$239M
2013 Q2
30 quarters
ZTS icon
112
Zoetis
ZTS
$30.9B
$43K ﹤0.01%
261
– –
2017 Q2
14 quarters
GWRE icon
113
Guidewire Software
GWRE
$13.7B
$40K ﹤0.01%
308
– –
2018 Q2
10 quarters
PANW icon
114
Palo Alto Networks
PANW
$343B
$39K ﹤0.01%
+666
New +$31.1K
2020 Q4
0 quarters
UNH icon
115
UnitedHealth
UNH
$340B
$39K ﹤0.01%
111
-22
-17% -$7.37K
2019 Q1
7 quarters
CSCO icon
116
Cisco
CSCO
$467B
$38K ﹤0.01%
845
– –
2017 Q2
14 quarters
HCSG icon
117
Healthcare Services Group
HCSG
$1.41B
$37K ﹤0.01%
1,304
– –
2017 Q3
13 quarters
ABBV icon
118
AbbVie
ABBV
$489B
$36K ﹤0.01%
332
– –
2020 Q1
3 quarters
CGNX icon
119
Cognex
CGNX
$10.6B
$36K ﹤0.01%
449
-427
-49% -$31K
2018 Q2
10 quarters
IDXX icon
120
Idexx Laboratories
IDXX
$40.8B
$35K ﹤0.01%
70
– –
2017 Q2
14 quarters
NOW icon
121
ServiceNow
NOW
$146B
$30K ﹤0.01%
270
– –
2019 Q3
5 quarters
KSU
122
DELISTED
Kansas City Southern
KSU
$29K ﹤0.01%
140
– –
2018 Q2
10 quarters
ANSS
123
DELISTED
Ansys
ANSS
$28K ﹤0.01%
78
– –
2018 Q4
8 quarters
VT icon
124
Vanguard Total World Stock ETF
VT
$81.6B
$26K ﹤0.01%
278
-64
-19% -$5.55K
2019 Q4
4 quarters
IMO icon
125
Imperial Oil
IMO
$59.5B
$24K ﹤0.01%
1,280
-4,420
-78% -$70.8K
2020 Q1
3 quarters
3 4
5
6 7

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FMI
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VAS
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DPIM
Duff & Phelps Investment Management Chicago, Illinois $10.6B AUM 18.62% 1-Year Est. Return
CA
Clearstead Advisors Cleveland, Ohio $10.6B AUM 24.87% 1-Year Est. Return
SCM
SCS Capital Management Boston, Massachusetts $10.6B AUM 19.73% 1-Year Est. Return
FCM
Frontier Capital Management Boston, Massachusetts $10.7B AUM 67.78% 1-Year Est. Return
URS
Utah Retirement Systems Salt Lake City, Utah $10.5B AUM 42.22% 1-Year Est. Return
AAM
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Harding Loevner's Q4 2020 Portfolio in Review

As of Q4 2020, Harding Loevner held 185 positions worth $24.2B, down 13% from $27.7B the previous quarter. Its ten largest holdings account for 39% of the portfolio.

Harding Loevner withdrew a net $7.17B in Q4 2020, closing 38 positions and reducing 57 holdings. Its most notable exit was INFINEON TECH AG ADS(REP1 ORD), an estimated $374M position sold in full.

By sector, the portfolio is most concentrated in Financials at 26% of assets, up from 17% a quarter earlier, followed by Technology and Communication Services.

Against the trend, Harding Loevner opened a new position in BHP worth $311M.

  • Harding Loevner's largest Q4 2020 buy was BHP: 5,333,251 shares worth $311M.
  • Harding Loevner added most to Edwards Lifesciences in Q4 2020, an estimated $199M increase.
  • Harding Loevner's biggest Q4 2020 reduction was Roper Technologies, cutting an estimated $299M.
  • Harding Loevner fully exited INFINEON TECH AG ADS(REP1 ORD) in Q4 2020, selling an estimated $374M.
  • Harding Loevner's ten largest holdings make up 39% of its $24.2B portfolio in Q4 2020.
  • Harding Loevner opened 7 new positions and closed 38 in Q4 2020.
  • Harding Loevner's portfolio value fell 13% quarter-over-quarter to $24.2B.

Based on Harding Loevner's 13F filing for Q4 2020, filed 16 Feb 2021.