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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
+9.85%
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
$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
Avg Time Held
11.1 quarters
Top 10 Avg Time Held
7.1 quarters
Top 20 Avg Time Held
9.8 quarters

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 Miscellaneous 19.78%
3 Financials 17.49%
4 Communication Services 9.19%
5 Consumer Discretionary 9.19%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
VT icon
126
Vanguard Total World Stock ETF
VT
$81.6B
$28K ﹤0.01%
342
+205
+150% +$16.5K
2019 Q4
3 quarters
ANSS
127
DELISTED
Ansys
ANSS
$26K ﹤0.01%
78
– –
2018 Q4
7 quarters
NOW icon
128
ServiceNow
NOW
$146B
$26K ﹤0.01%
270
– –
2019 Q3
4 quarters
KSU
129
DELISTED
Kansas City Southern
KSU
$25K ﹤0.01%
140
+101
+259% +$17.5K
2018 Q2
9 quarters
MTD icon
130
Mettler-Toledo International
MTD
$31.1B
$18K ﹤0.01%
19
– –
2017 Q2
13 quarters
ABMD
131
DELISTED
Abiomed Inc
ABMD
$17K ﹤0.01%
63
– –
2020 Q2
1 quarter
APH icon
132
Amphenol
APH
$215B
$16K ﹤0.01%
1,152
– –
2017 Q2
13 quarters
IQV icon
133
IQVIA
IQV
$42.8B
$16K ﹤0.01%
100
– –
2017 Q4
11 quarters
PLNT icon
134
Planet Fitness
PLNT
$3.62B
$16K ﹤0.01%
266
– –
2020 Q1
2 quarters
REGN icon
135
Regeneron Pharmaceuticals
REGN
$76.9B
$16K ﹤0.01%
28
-1
-3% -$606
2016 Q2
17 quarters
TXN icon
136
Texas Instruments
TXN
$259B
$16K ﹤0.01%
115
– –
2020 Q1
2 quarters
V icon
137
Visa
V
$724B
$15K ﹤0.01%
+76
New +$15.2K
2020 Q3
0 quarters
RMD icon
138
ResMed
RMD
$32.4B
$14K ﹤0.01%
81
– –
2019 Q1
6 quarters
EXPO icon
139
Exponent
EXPO
$3.32B
$13K ﹤0.01%
175
– –
2018 Q4
7 quarters
WAT icon
140
Waters Corp
WAT
$42.6B
$13K ﹤0.01%
66
-255,455
-100% -$53.1M
2014 Q2
25 quarters
BKNG icon
141
Booking.com
BKNG
$120B
$12K ﹤0.01%
175
– –
2015 Q2
21 quarters
RGEN icon
142
Repligen
RGEN
$11B
$12K ﹤0.01%
80
-146
-65% -$20.9K
2019 Q3
4 quarters
TIF
143
DELISTED
Tiffany & Co.
TIF
$12K ﹤0.01%
106
– –
2018 Q4
7 quarters
PEN icon
144
Penumbra
PEN
$12.6B
$11K ﹤0.01%
58
– –
2020 Q2
1 quarter
LMAT icon
145
LeMaitre Vascular
LMAT
$1.85B
$10K ﹤0.01%
317
– –
2019 Q4
3 quarters
CABO icon
146
Cable One
CABO
$63.2M
$6K ﹤0.01%
3
– –
2019 Q2
5 quarters
ELAN icon
147
Elanco Animal Health
ELAN
$11.5B
$5K ﹤0.01%
169
– –
2019 Q2
5 quarters
HP icon
148
Helmerich & Payne
HP
$3.99B
$3K ﹤0.01%
227
– –
2017 Q2
13 quarters
SLB icon
149
SLB Ltd
SLB
$72.6B
$2K ﹤0.01%
107
-3,408
-97% -$63.4K
2013 Q2
29 quarters
SSL icon
150
Sasol
SSL
$9.69B
$1K ﹤0.01%
80
-198
-71% -$1.63K
2013 Q2
29 quarters
3 4 5
6
7

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SCM
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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 Miscellaneous and Financials.

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.