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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
-1.52%
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
$25.1B
AUM Growth
-$1.52B
(-5.7%)
Cap. Flow
-$838M
Cap. Flow
% of AUM
-3.35%
Top 10 Holdings %
Top 10 Hldgs %
33.33%
Holding
164
New
7
Increased
19
Reduced
72
Closed
17
Avg Time Held
15
quarters
Top 10 Avg Time Held
7.5
quarters
Top 20 Avg Time Held
10.7
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Netflix
NFLX
|
+$227M |
| 2 |
CoStar Group
CSGP
|
+$220M |
| 3 |
Applied Materials
AMAT
|
+$217M |
| 4 |
Baidu
BIDU
|
+$202M |
| 5 |
Pinterest
PINS
|
+$118M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
EPAM Systems
EPAM
|
+$291M |
| 2 |
Estee Lauder
EL
|
+$249M |
| 3 |
VF Corp
VFC
|
+$188M |
| 4 |
SIVB
SVB Financial Group
SIVB
|
+$144M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$131M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 25.34% |
| 2 | Financials | 21.24% |
| 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 | Held Since | |
|---|---|---|---|---|---|---|---|
101
Cisco
CSCO
$467B
| $49K | ﹤0.01% |
907
-1,081
| -54% | -$60.7K |
2017 Q2
17 quarters
|
|
102
Abbott
ABT
$172B
| $46K | ﹤0.01% |
390
| – | – |
2013 Q2
33 quarters
|
|
103
Stock Yards Bancorp
SYBT
$2.33B
| $46K | ﹤0.01% |
787
| – | – |
2021 Q1
2 quarters
|
|
104
EnerSys
ENS
$6.48B
| $45K | ﹤0.01% |
606
| – | – |
2018 Q1
14 quarters
|
|
105
Healthcare Services Group
HCSG
$1.41B
| $44K | ﹤0.01% |
1,759
| – | – |
2017 Q3
16 quarters
|
|
106
Idexx Laboratories
IDXX
$40.8B
| $44K | ﹤0.01% |
70
| – | – |
2017 Q2
17 quarters
|
|
107
Planet Fitness
PLNT
$3.62B
| $40K | ﹤0.01% |
509
| – | – |
2020 Q1
6 quarters
|
|
108
Rollins
ROL
$15.4B
| $40K | ﹤0.01% |
1,132
| – | – |
2017 Q2
17 quarters
|
|
|
ABMD
109
DELISTED
Abiomed Inc
ABMD
| $38K | ﹤0.01% |
118
| – | – |
2020 Q2
5 quarters
|
|
110
Guidewire Software
GWRE
$13.7B
| $37K | ﹤0.01% |
308
| – | – |
2018 Q2
13 quarters
|
|
|
ALTR
111
DELISTED
Altair Engineering Inc
ALTR
| $37K | ﹤0.01% |
539
| – | – |
2019 Q3
8 quarters
|
|
112
Cognex
CGNX
$10.6B
| $36K | ﹤0.01% |
449
| – | – |
2018 Q2
13 quarters
|
|
113
ServiceNow
NOW
$146B
| $34K | ﹤0.01% |
270
| – | – |
2019 Q3
8 quarters
|
|
114
IPG Photonics
IPGP
$3.33B
| $32K | ﹤0.01% |
202
| – | – |
2014 Q2
29 quarters
|
|
|
ANSS
115
DELISTED
Ansys
ANSS
| $27K | ﹤0.01% |
78
| – | – |
2018 Q4
11 quarters
|
|
116
Honeywell
HON
$65.8B
| $27K | ﹤0.01% |
136
-197
| -59% | -$42K |
2020 Q2
5 quarters
|
|
117
Exponent
EXPO
$3.32B
| $26K | ﹤0.01% |
230
| – | – |
2018 Q4
11 quarters
|
|
118
Mettler-Toledo International
MTD
$31.1B
| $26K | ﹤0.01% |
19
| – | – |
2017 Q2
17 quarters
|
|
119
Palo Alto Networks
PANW
$343B
| $25K | ﹤0.01% |
312
| – | – |
2020 Q4
3 quarters
|
|
120
Elanco Animal Health
ELAN
$11.5B
| $24K | ﹤0.01% |
754
| – | – |
2019 Q2
9 quarters
|
|
121
Repligen
RGEN
$11B
| $23K | ﹤0.01% |
80
| – | – |
2019 Q3
8 quarters
|
|
122
Costco
COST
$420B
| $22K | ﹤0.01% |
49
| – | – |
2021 Q1
2 quarters
|
|
123
Republic Services
RSG
$66.4B
| $22K | ﹤0.01% |
185
| – | – |
2021 Q1
2 quarters
|
|
124
Texas Instruments
TXN
$259B
| $22K | ﹤0.01% |
115
| – | – |
2020 Q1
6 quarters
|
|
125
Amphenol
APH
$215B
| $21K | ﹤0.01% |
1,152
| – | – |
2017 Q2
17 quarters
|
|
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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.