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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
TSM icon
1
TSMC
TSM
$2.35T
$1.23B 4.44%
15,182,781
-6,025,147
-28% -$458M
2013 Q2
29 quarters
SAP icon
2
SAP
SAP
$248B
$1.18B 4.27%
7,593,859
+25,576
+0.3% +$4.06M
2013 Q2
29 quarters
BABA icon
3
Alibaba
BABA
$277B
$1.05B 3.8%
3,582,705
-3,046,797
-46% -$803M
2017 Q3
12 quarters
NBIS
4
Nebius Group N.V.
NBIS
$60.1B
$840M 3.03%
12,869,928
-6,254,264
-33% -$373M
2014 Q1
26 quarters
PYPL icon
5
PayPal
PYPL
$47.5B
$811M 2.93%
4,117,778
+22,719
+0.6% +$4.28M
2015 Q3
20 quarters
ITUB icon
6
Itaú Unibanco
ITUB
$112B
$802M 2.89%
276,847,159
-736,903
-0.3% -$2.5M
2013 Q2
29 quarters
EPAM icon
7
EPAM Systems
EPAM
$5.84B
$738M 2.66%
2,284,152
-131,470
-5% -$39.3M
2017 Q2
13 quarters
HDB icon
8
HDFC Bank
HDB
$115B
$723M 2.61%
28,937,520
-230,648
-0.8% -$5.6M
2016 Q4
15 quarters
CHKP icon
9
Check Point Software Technologies
CHKP
$14B
$570M 2.06%
4,739,244
+6,408
+0.1% +$782K
2016 Q3
16 quarters
VRTX icon
10
Vertex Pharmaceuticals
VRTX
$129B
$544M 1.96%
2,000,541
-21,226
-1% -$5.86M
2018 Q4
7 quarters
AAPL icon
11
Apple
AAPL
$4.91T
$541M 1.95%
4,673,820
+85,624
+2% +$9.34M
2017 Q2
13 quarters
IBN icon
12
ICICI Bank
IBN
$100B
$505M 1.82%
51,342,058
+603,766
+1% +$6.01M
2013 Q2
29 quarters
FMX icon
13
Fomento Económico Mexicano
FMX
$40.6B
$504M 1.82%
8,962,555
+132,093
+1% +$7.71M
2013 Q2
29 quarters
GOOGL icon
14
Alphabet (Google) Class A
GOOGL
$4.3T
$495M 1.79%
6,759,280
+130,540
+2% +$9.95M
2015 Q4
19 quarters
META icon
15
Meta Platforms (Facebook)
META
$1.83T
$489M 1.77%
1,868,862
+33,453
+2% +$8.63M
2015 Q1
22 quarters
ROP icon
16
Roper Technologies
ROP
$36B
$459M 1.66%
1,161,822
+21,842
+2% +$9.08M
2013 Q2
29 quarters
ILMN icon
17
Illumina
ILMN
$42B
$456M 1.64%
1,515,360
+331,708
+28% +$114M
2017 Q4
11 quarters
MA icon
18
Mastercard
MA
$516B
$438M 1.58%
1,295,583
+21,752
+2% +$7.07M
2013 Q3
28 quarters
ABEV icon
19
Ambev
ABEV
$49.2B
$436M 1.57%
192,873,906
-5,733,783
-3% -$14.4M
2013 Q4
27 quarters
FRC
20
DELISTED
First Republic Bank
FRC
$416M 1.5%
3,817,258
+68,233
+2% +$7.57M
2013 Q2
29 quarters
VRSK icon
21
Verisk Analytics
VRSK
$23.1B
$388M 1.4%
2,095,750
+43,411
+2% +$7.95M
2014 Q4
23 quarters
NKE icon
22
Nike
NKE
$51.6B
$376M 1.36%
2,997,133
+52,314
+2% +$5.62M
2013 Q2
29 quarters
IFX
23
DELISTED
INFINEON TECH AG ADS(REP1 ORD)
IFX
$374M 1.35%
+13,249,533
New +$374M
2020 Q3
0 quarters
CNI icon
24
Canadian National Railway
CNI
$71.2B
$365M 1.32%
3,427,078
+9,641
+0.3% +$968K
2013 Q2
29 quarters
CHL
25
DELISTED
China Mobile Limited
CHL
$310M 1.12%
9,646,153
-3,709
-0% -$130K
2015 Q1
22 quarters
1
2 3 4 5

Similar funds

FMI
Factory Mutual Insurance Waltham, Massachusetts $10.6B AUM 34.1% 1-Year Est. Return
VAS
Vestmark Advisory Solutions Wakefield, Massachusetts $10.6B AUM 25.02% 1-Year Est. Return
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
Alphadyne Asset Management New York $10.5B AUM 37.62% 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 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.