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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
+11.11%
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
$26.6B
AUM Growth
+$1.03B
Cap. Flow
-$1.44B
Cap. Flow %
-5.42%
Top 10 Hldgs %
34.98%
Holding
162
New
8
Increased
46
Reduced
51
Closed
5

Top Buys

Rank Stock Value
1
TTD icon
Trade Desk
TTD
+$191M
2
PINS icon
Pinterest
PINS
+$139M
3
TLK icon
Telkom Indonesia
TLK
+$112M
4
DHR icon
Danaher
DHR
+$74.7M
5
TMO icon
Thermo Fisher Scientific
TMO
+$39.3M

Top Sells

Rank Stock Value
1
PYPL icon
PayPal
PYPL
+$296M
2
EDU icon
New Oriental
EDU
+$222M
3
CME icon
CME Group
CME
+$208M
4
TCOM icon
Trip.com Group
TCOM
+$186M
5
BIDU icon
Baidu
BIDU
+$177M

Sector Composition

Rank Sector Weight
1 Technology 24.86%
2 Financials 21.5%
3 Healthcare 11.69%
4 Consumer Discretionary 10.47%
5 Communication Services 10.46%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TSM icon
1
TSMC
TSM
$2.22T
$1.63B 6.14%
13,583,242
+149,125
+1% +$17.5M
BHP icon
2
BHP
BHP
$230B
$1.14B 4.29%
17,536,020
+136,528
+0.8% +$9.03M
EPAM icon
3
EPAM Systems
EPAM
$6.04B
$933M 3.51%
1,825,094
-354,908
-16% -$166M
HDB icon
4
HDFC Bank
HDB
$119B
$908M 3.42%
24,847,180
-673,752
-3% -$24.7M
BABA icon
5
Alibaba
BABA
$281B
$854M 3.21%
3,766,572
-150,042
-4% -$33.3M
GOOGL icon
6
Alphabet (Google) Class A
GOOGL
$4.14T
$804M 3.02%
6,584,440
+42,600
+0.7% +$4.98M
FRC
7
DELISTED
First Republic Bank
FRC
$796M 2.99%
4,253,721
-150,885
-3% -$27.7M
ITUB icon
8
Itaú Unibanco
ITUB
$89.8B
$783M 2.95%
179,147,728
-8,811,392
-5% -$35.5M
SIVB
9
DELISTED
SVB Financial Group
SIVB
$727M 2.74%
1,306,793
-100,788
-7% -$55.9M
SAP icon
10
SAP
SAP
$248B
$722M 2.71%
5,136,888
-371,001
-7% -$51.7M
FMX icon
11
Fomento Económico Mexicano
FMX
$41B
$721M 2.71%
8,531,595
-334,968
-4% -$27.4M
AMZN icon
12
Amazon
AMZN
$2.79T
$663M 2.5%
3,857,240
+24,880
+0.6% +$4.14M
ILMN icon
13
Illumina
ILMN
$33B
$658M 2.48%
1,429,532
-4,135
-0.3% -$1.67M
NBIS
14
Nebius Group N.V.
NBIS
$61.5B
$646M 2.43%
9,130,562
-639,480
-7% -$42M
ABEV icon
15
Ambev
ABEV
$46.6B
$629M 2.37%
182,973,959
-7,308,110
-4% -$23.8M
PYPL icon
16
PayPal
PYPL
$47B
$623M 2.34%
2,136,053
-1,118,897
-34% -$296M
META icon
17
Meta Platforms (Facebook)
META
$1.57T
$603M 2.27%
1,733,400
+12,040
+0.7% +$3.86M
IBN icon
18
ICICI Bank
IBN
$109B
$583M 2.19%
34,119,731
+209,541
+0.6% +$3.49M
CHKP icon
19
Check Point Software Technologies
CHKP
$14B
$579M 2.18%
4,987,748
+33,807
+0.7% +$3.99M
DE icon
20
Deere & Co
DE
$187B
$552M 2.08%
1,564,596
+16,766
+1% +$6.12M
MSFT icon
21
Microsoft
MSFT
$3.71T
$482M 1.81%
1,778,466
+23,737
+1% +$6.03M
NKE icon
22
Nike
NKE
$57B
$459M 1.73%
2,973,707
+20,891
+0.7% +$2.81M
ADBE icon
23
Adobe
ADBE
$106B
$450M 1.69%
769,215
+7,187
+0.9% +$3.7M
VRTX icon
24
Vertex Pharmaceuticals
VRTX
$138B
$403M 1.52%
1,999,078
+15,989
+0.8% +$3.34M
ALGN icon
25
Align Technology
ALGN
$11.3B
$376M 1.41%
614,858
-2,051
-0.3% -$1.21M
1
2 3 4 5

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VAS
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DPIM
Duff & Phelps Investment Management Chicago, Illinois $10.6B AUM 18.62% 1-Year Est. Return
CA
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SCM
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FCM
Frontier Capital Management Boston, Massachusetts $10.7B AUM 67.78% 1-Year Est. Return
URS
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AAM
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Harding Loevner's Q2 2021 Portfolio in Review

As of Q2 2021, Harding Loevner held 162 positions worth $26.6B, up 4% from $25.6B the previous quarter. Its ten largest holdings account for 35% of the portfolio.

Harding Loevner withdrew a net $1.44B in Q2 2021, closing 5 positions and reducing 51 holdings. Its most notable exit was Autohome, an estimated $69.9M position sold in full.

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

Against the trend, Harding Loevner opened a new position in Pinterest worth $157M.

  • Harding Loevner's largest Q2 2021 buy was Pinterest: 1,990,327 shares worth $157M.
  • Harding Loevner added most to Trade Desk in Q2 2021, an estimated $191M increase.
  • Harding Loevner's biggest Q2 2021 reduction was PayPal, cutting an estimated $296M.
  • Harding Loevner fully exited Autohome in Q2 2021, selling an estimated $69.9M.
  • Harding Loevner's ten largest holdings make up 35% of its $26.6B portfolio in Q2 2021.
  • Harding Loevner opened 8 new positions and closed 5 in Q2 2021.
  • Harding Loevner's portfolio value rose 4% quarter-over-quarter to $26.6B.

Based on Harding Loevner's 13F filing for Q2 2021, filed 16 Aug 2021.