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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
-18.07%
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
$16.2B
AUM Growth
-$1.95B
(-11%)
Cap. Flow
-$1.12B
Cap. Flow
% of AUM
-6.93%
Top 10 Holdings %
Top 10 Hldgs %
39.27%
Holding
158
New
5
Increased
12
Reduced
70
Closed
5
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Woodside Energy
WDS
|
+$123M |
| 2 |
Manulife Financial
MFC
|
+$76.3M |
| 3 |
Fomento Económico Mexicano
FMX
|
+$60.1M |
| 4 |
iShares MSCI ACWI ex US ETF
ACWX
|
+$48.3M |
| 5 |
HDFC Bank
HDB
|
+$43.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Meta Platforms (Facebook)
META
|
+$338M |
| 2 |
Check Point Software Technologies
CHKP
|
+$257M |
| 3 |
BHP
BHP
|
+$142M |
| 4 |
Ambev
ABEV
|
+$96.9M |
| 5 |
CME Group
CME
|
+$66.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 21.76% |
| 2 | Healthcare | 17.83% |
| 3 | Financials | 17.34% |
| 4 | Industrials | 9.33% |
| 5 | Materials | 6.89% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
TSMC
TSM
$2.18T
| $868M | 5.35% |
10,614,621
-714,382
| -6% | -$66.1M |
|
|
2
BHP
BHP
$230B
| $848M | 5.23% |
15,089,711
-2,283,395
| -13% | -$142M |
|
3
Alcon
ALC
$35B
| $732M | 4.51% |
10,469,750
-212,458
| -2% | -$15.5M |
|
|
4
Fomento Económico Mexicano
FMX
$41.7B
| $717M | 4.42% |
10,628,391
+812,064
| +8% | +$60.1M |
|
|
5
HDFC Bank
HDB
$121B
| $684M | 4.22% |
24,881,404
+1,552,466
| +7% | +$43.8M |
|
6
ICICI Bank
IBN
$108B
| $586M | 3.62% |
33,042,034
-684,937
| -2% | -$12.8M |
|
7
Alphabet (Google) Class A
GOOGL
$4.33T
| $547M | 3.38% |
5,136,720
-23,440
| -0.5% | -$2.76M |
|
8
Vertex Pharmaceuticals
VRTX
$126B
| $489M | 3.01% |
1,733,691
-35,585
| -2% | -$9.52M |
|
|
FRC
9
DELISTED
First Republic Bank
FRC
| $448M | 2.77% |
3,107,856
-84,289
| -3% | -$12.6M |
|
10
SAP
SAP
$238B
| $446M | 2.75% |
4,917,215
-144,998
| -3% | -$14.5M |
|
11
UnitedHealth
UNH
$370B
| $410M | 2.53% |
797,972
-21,457
| -3% | -$10.8M |
|
12
Microsoft
MSFT
$3.71T
| $389M | 2.4% |
1,514,543
-41,248
| -3% | -$11.2M |
|
13
Canadian National Railway
CNI
$76.6B
| $374M | 2.31% |
3,329,135
-69,890
| -2% | -$8.17M |
|
|
SIVB
14
DELISTED
SVB Financial Group
SIVB
| $370M | 2.28% |
936,779
-26,056
| -3% | -$12.3M |
|
15
Deere & Co
DE
$168B
| $347M | 2.14% |
1,158,532
-28,930
| -2% | -$10.7M |
|
|
16
Ambev
ABEV
$46.4B
| $331M | 2.04% |
131,683,036
-33,967,297
| -21% | -$96.9M |
|
17
Amazon
AMZN
$2.96T
| $301M | 1.86% |
2,837,868
-69,612
| -2% | -$8.71M |
|
18
XP
XP
$8.39B
| $293M | 1.8% |
16,281,542
-356,941
| -2% | -$8.22M |
|
19
Thermo Fisher Scientific
TMO
$220B
| $272M | 1.68% |
499,951
-14,068
| -3% | -$7.74M |
|
20
Synopsys
SNPS
$79.7B
| $271M | 1.67% |
892,074
-23,838
| -3% | -$7.19M |
|
21
Nike
NKE
$61.9B
| $262M | 1.62% |
2,567,202
-71,744
| -3% | -$8.48M |
|
22
Accenture
ACN
$108B
| $260M | 1.6% |
935,013
-24,428
| -3% | -$7.34M |
|
23
Ametek
AME
$58.2B
| $222M | 1.37% |
2,023,250
-45,676
| -2% | -$5.55M |
|
|
24
CME Group
CME
$94.8B
| $205M | 1.26% |
999,479
-313,819
| -24% | -$66.5M |
|
25
Apple
AAPL
$4.57T
| $196M | 1.21% |
1,429,945
-38,051
| -3% | -$5.76M |
|
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Harding Loevner's Q2 2022 Portfolio in Review
As of Q2 2022, Harding Loevner held 158 positions worth $16.2B, down 11% from $18.2B the previous quarter. Its ten largest holdings account for 39% of the portfolio.
Harding Loevner withdrew a net $1.12B in Q2 2022, closing 5 positions and reducing 70 holdings. Its most notable exit was Unilever, an estimated $28.7M position sold in full.
By sector, the portfolio is most concentrated in Technology at 22% of assets, down from 23% a quarter earlier, followed by Healthcare and Financials.
Against the trend, Harding Loevner opened a new position in Woodside Energy worth $117M.
- Harding Loevner's largest Q2 2022 buy was Woodside Energy: 5,440,187 shares worth $117M.
- Harding Loevner added most to Manulife Financial in Q2 2022, an estimated $76.3M increase.
- Harding Loevner's biggest Q2 2022 reduction was Meta Platforms (Facebook), cutting an estimated $338M.
- Harding Loevner fully exited Unilever in Q2 2022, selling an estimated $28.7M.
- Harding Loevner's ten largest holdings make up 39% of its $16.2B portfolio in Q2 2022.
- Harding Loevner opened 5 new positions and closed 5 in Q2 2022.
- Harding Loevner's portfolio value fell 11% quarter-over-quarter to $16.2B.
Based on Harding Loevner's 13F filing for Q2 2022, filed 15 Aug 2022.