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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
+3.87%
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
$25.6B
AUM Growth
+$1.39B
Cap. Flow
+$960M
Cap. Flow %
3.76%
Top 10 Hldgs %
35.16%
Holding
159
New
12
Increased
39
Reduced
65
Closed
5

Top Buys

Rank Stock Value
1
BHP icon
BHP
BHP
+$777M
2
ADBE icon
Adobe
ADBE
+$356M
3
BABA icon
Alibaba
BABA
+$272M
4
SIVB
SVB Financial Group
SIVB
+$259M
5
ASML icon
ASML
ASML
+$248M

Top Sells

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$374M
2
ITUB icon
Itaú Unibanco
ITUB
+$326M
3
XOM icon
ExxonMobil
XOM
+$293M
4
IBN icon
ICICI Bank
IBN
+$281M
5
SAP icon
SAP
SAP
+$261M

Sector Composition

Rank Sector Weight
1 Technology 23.56%
2 Financials 20.91%
3 Consumer Discretionary 11.08%
4 Healthcare 10.29%
5 Communication Services 9.06%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TSM icon
1
TSMC
TSM
$2.18T
$1.59B 6.22%
13,434,117
-1,553,310
-10% -$192M
BHP icon
2
BHP
BHP
$230B
$1.08B 4.21%
17,399,492
+12,066,241
+226% +$777M
HDB icon
3
HDFC Bank
HDB
$121B
$991M 3.88%
25,520,932
-3,274,638
-11% -$128M
BABA icon
4
Alibaba
BABA
$308B
$888M 3.47%
3,916,614
+1,105,429
+39% +$272M
EPAM icon
5
EPAM Systems
EPAM
$5.03B
$865M 3.38%
2,180,002
-104,187
-5% -$38.1M
PYPL icon
6
PayPal
PYPL
$50.5B
$790M 3.09%
3,254,950
-272,821
-8% -$68.9M
FRC
7
DELISTED
First Republic Bank
FRC
$734M 2.87%
4,404,606
+480,234
+12% +$77.8M
SIVB
8
DELISTED
SVB Financial Group
SIVB
$695M 2.72%
1,407,581
+527,389
+60% +$259M
ITUB icon
9
Itaú Unibanco
ITUB
$87.5B
$678M 2.65%
187,959,120
-86,270,679
-31% -$326M
SAP icon
10
SAP
SAP
$238B
$676M 2.65%
5,507,889
-2,062,168
-27% -$261M
GOOGL icon
11
Alphabet (Google) Class A
GOOGL
$4.33T
$675M 2.64%
6,541,840
-155,620
-2% -$15.4M
FMX icon
12
Fomento Económico Mexicano
FMX
$41.7B
$668M 2.61%
8,866,563
-12,553
-0.1% -$914K
NBIS
13
Nebius Group N.V.
NBIS
$47.7B
$626M 2.45%
9,770,042
-1,673,605
-15% -$112M
AMZN icon
14
Amazon
AMZN
$2.96T
$593M 2.32%
3,832,360
+1,506,540
+65% +$239M
DE icon
15
Deere & Co
DE
$168B
$579M 2.27%
1,547,830
+396,179
+34% +$130M
CHKP icon
16
Check Point Software Technologies
CHKP
$13.1B
$555M 2.17%
4,953,941
+1,737,949
+54% +$209M
IBN icon
17
ICICI Bank
IBN
$108B
$544M 2.13%
33,910,190
-17,197,987
-34% -$281M
ILMN icon
18
Illumina
ILMN
$28.4B
$536M 2.1%
1,433,667
-112,451
-7% -$45.9M
ABEV icon
19
Ambev
ABEV
$46.4B
$521M 2.04%
190,282,069
+29,473,242
+18% +$83.2M
CME icon
20
CME Group
CME
$94.8B
$515M 2.02%
2,522,716
+759,390
+43% +$150M
META icon
21
Meta Platforms (Facebook)
META
$1.51T
$507M 1.98%
1,721,360
-165,770
-9% -$44.6M
VRTX icon
22
Vertex Pharmaceuticals
VRTX
$126B
$426M 1.67%
1,983,089
-60,006
-3% -$13.2M
MSFT icon
23
Microsoft
MSFT
$3.71T
$414M 1.62%
1,754,729
+307,372
+21% +$71.3M
CNI icon
24
Canadian National Railway
CNI
$76.6B
$396M 1.55%
3,410,490
+774,204
+29% +$85.9M
NKE icon
25
Nike
NKE
$61.9B
$392M 1.54%
2,952,816
-24,673
-0.8% -$3.43M
1
2 3 4 5

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FCM
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CCM
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URS
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MPI
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TIM
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SC
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TCA
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Harding Loevner's Q1 2021 Portfolio in Review

As of Q1 2021, Harding Loevner held 159 positions worth $25.6B, up 5.7% from $24.2B the previous quarter. Its ten largest holdings account for 35% of the portfolio.

Harding Loevner deployed $960M of net new capital in Q1 2021, opening 12 new positions and adding to 39 existing holdings. Its largest new stake was Alcon: 1,782,902 shares worth $125M.

By sector, the portfolio is most concentrated in Technology at 24% of assets, down from 25% a quarter earlier, followed by Financials and Consumer Discretionary.

On the sell side, the largest reduction was Apple, an estimated $374M trimmed.

  • Harding Loevner's largest Q1 2021 buy was Alcon: 1,782,902 shares worth $125M.
  • Harding Loevner added most to BHP in Q1 2021, an estimated $777M increase.
  • Harding Loevner's biggest Q1 2021 reduction was Apple, cutting an estimated $374M.
  • Harding Loevner fully exited iShares MSCI ACWI ex US ETF in Q1 2021, selling an estimated $6.74M.
  • Harding Loevner's ten largest holdings make up 35% of its $25.6B portfolio in Q1 2021.
  • Harding Loevner opened 12 new positions and closed 5 in Q1 2021.
  • Harding Loevner's portfolio value rose 5.7% quarter-over-quarter to $25.6B.

Based on Harding Loevner's 13F filing for Q1 2021, filed 17 May 2021.