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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
-1.52%
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
$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

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 18.07%
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
CSCO icon
101
Cisco
CSCO
$479B
$49K ﹤0.01%
907
-1,081
-54% -$60.7K
ABT icon
102
Abbott
ABT
$187B
$46K ﹤0.01%
390
– –
SYBT icon
103
Stock Yards Bancorp
SYBT
$2.6B
$46K ﹤0.01%
787
– –
ENS icon
104
EnerSys
ENS
$6.99B
$45K ﹤0.01%
606
– –
HCSG icon
105
Healthcare Services Group
HCSG
$1.53B
$44K ﹤0.01%
1,759
– –
IDXX icon
106
Idexx Laboratories
IDXX
$46.2B
$44K ﹤0.01%
70
– –
PLNT icon
107
Planet Fitness
PLNT
$3.78B
$40K ﹤0.01%
509
– –
ROL icon
108
Rollins
ROL
$18.2B
$40K ﹤0.01%
1,132
– –
ABMD
109
DELISTED
Abiomed Inc
ABMD
$38K ﹤0.01%
118
– –
GWRE icon
110
Guidewire Software
GWRE
$14.2B
$37K ﹤0.01%
308
– –
ALTR
111
DELISTED
Altair Engineering Inc
ALTR
$37K ﹤0.01%
539
– –
CGNX icon
112
Cognex
CGNX
$11.3B
$36K ﹤0.01%
449
– –
NOW icon
113
ServiceNow
NOW
$129B
$34K ﹤0.01%
270
– –
IPGP icon
114
IPG Photonics
IPGP
$3.84B
$32K ﹤0.01%
202
– –
ANSS
115
DELISTED
Ansys
ANSS
$27K ﹤0.01%
78
– –
HON icon
116
Honeywell
HON
$78B
$27K ﹤0.01%
136
-197
-59% -$42K
EXPO icon
117
Exponent
EXPO
$3.24B
$26K ﹤0.01%
230
– –
MTD icon
118
Mettler-Toledo International
MTD
$28.6B
$26K ﹤0.01%
19
– –
PANW icon
119
Palo Alto Networks
PANW
$297B
$25K ﹤0.01%
312
– –
ELAN icon
120
Elanco Animal Health
ELAN
$11.1B
$24K ﹤0.01%
754
– –
RGEN icon
121
Repligen
RGEN
$9.25B
$23K ﹤0.01%
80
– –
COST icon
122
Costco
COST
$420B
$22K ﹤0.01%
49
– –
RSG icon
123
Republic Services
RSG
$65.7B
$22K ﹤0.01%
185
– –
TXN icon
124
Texas Instruments
TXN
$261B
$22K ﹤0.01%
115
– –
APH icon
125
Amphenol
APH
$209B
$21K ﹤0.01%
576
– –
3 4
5
6 7

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FCM
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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
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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 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.