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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
TSM icon
1
TSMC
TSM
$2.35T
$1.63B 6.76%
14,987,427
-195,354
-1% -$18.5M
2013 Q2
30 quarters
ITUB icon
2
Itaú Unibanco
ITUB
$112B
$1.22B 5.03%
274,229,799
-2,617,360
-0.9% -$9.79M
2013 Q2
30 quarters
HDB icon
3
HDFC Bank
HDB
$115B
$1.04B 4.3%
28,795,570
-141,950
-0.5% -$4.53M
2016 Q4
16 quarters
SAP icon
4
SAP
SAP
$248B
$987M 4.08%
7,570,057
-23,802
-0.3% -$3.07M
2013 Q2
30 quarters
PYPL icon
5
PayPal
PYPL
$47.5B
$826M 3.42%
3,527,771
-590,007
-14% -$122M
2015 Q3
21 quarters
EPAM icon
6
EPAM Systems
EPAM
$5.84B
$819M 3.39%
2,284,189
+37
+0% +$12.3K
2017 Q2
14 quarters
NBIS
7
Nebius Group N.V.
NBIS
$60.1B
$796M 3.29%
11,443,647
-1,426,281
-11% -$91.1M
2014 Q1
27 quarters
IBN icon
8
ICICI Bank
IBN
$100B
$759M 3.14%
51,108,177
-233,881
-0.5% -$2.94M
2013 Q2
30 quarters
FMX icon
9
Fomento Económico Mexicano
FMX
$40.6B
$673M 2.78%
8,879,116
-83,439
-0.9% -$5.58M
2013 Q2
30 quarters
BABA icon
10
Alibaba
BABA
$277B
$654M 2.71%
2,811,185
-771,520
-22% -$214M
2017 Q3
13 quarters
AAPL icon
11
Apple
AAPL
$4.91T
$619M 2.56%
4,667,095
-6,725
-0.1% -$809K
2017 Q2
14 quarters
GOOGL icon
12
Alphabet (Google) Class A
GOOGL
$4.3T
$587M 2.43%
6,697,460
-61,820
-0.9% -$5.2M
2015 Q4
20 quarters
FRC
13
DELISTED
First Republic Bank
FRC
$577M 2.39%
3,924,372
+107,114
+3% +$13.9M
2013 Q2
30 quarters
ILMN icon
14
Illumina
ILMN
$42B
$556M 2.3%
1,546,118
+30,758
+2% +$9.8M
2017 Q4
12 quarters
META icon
15
Meta Platforms (Facebook)
META
$1.83T
$515M 2.13%
1,887,130
+18,268
+1% +$5.01M
2015 Q1
23 quarters
ABEV icon
16
Ambev
ABEV
$49.2B
$492M 2.04%
160,808,827
-32,065,079
-17% -$86.5M
2013 Q4
28 quarters
VRTX icon
17
Vertex Pharmaceuticals
VRTX
$129B
$483M 2%
2,043,095
+42,554
+2% +$9.76M
2018 Q4
8 quarters
MA icon
18
Mastercard
MA
$516B
$457M 1.89%
1,279,530
-16,053
-1% -$5.34M
2013 Q3
29 quarters
CHKP icon
19
Check Point Software Technologies
CHKP
$14B
$427M 1.77%
3,215,992
-1,523,252
-32% -$186M
2016 Q3
17 quarters
NKE icon
20
Nike
NKE
$51.6B
$421M 1.74%
2,977,489
-19,644
-0.7% -$2.6M
2013 Q2
30 quarters
AMZN icon
21
Amazon
AMZN
$2.83T
$379M 1.57%
2,325,820
+397,840
+21% +$63.5M
2020 Q2
2 quarters
ALGN icon
22
Align Technology
ALGN
$10.1B
$347M 1.43%
648,661
-5,676
-0.9% -$2.55M
2020 Q1
3 quarters
SIVB
23
DELISTED
SVB Financial Group
SIVB
$341M 1.41%
880,192
+129,255
+17% +$41.9M
2013 Q2
30 quarters
ETSY icon
24
Etsy
ETSY
$7.04B
$325M 1.34%
1,825,084
+32,042
+2% +$4.82M
2020 Q3
1 quarter
MSFT icon
25
Microsoft
MSFT
$3.97T
$322M 1.33%
1,447,357
+57,071
+4% +$12.3M
2013 Q2
30 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 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.