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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
+0.9%
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
$13.1B
AUM Growth
-$1.74B
Cap. Flow
-$1.68B
Cap. Flow %
-12.9%
Top 10 Hldgs %
44.71%
Holding
73
New
6
Increased
6
Reduced
55
Closed
6
Avg Time Held
21.3 quarters
Top 10 Avg Time Held
13.5 quarters
Top 20 Avg Time Held
13.5 quarters

Top Buys

Rank Stock Value
1
ASML icon
ASML
ASML
+$200M
2
TTD icon
Trade Desk
TTD
+$159M
3
HEI icon
HEICO Corp
HEI
+$106M
4
AME icon
Ametek
AME
+$103M
5
APH icon
Amphenol
APH
+$96.6M

Top Sells

Rank Stock Value
1
META icon
Meta Platforms (Facebook)
META
+$271M
2
ROK icon
Rockwell Automation
ROK
+$179M
3
ABEV icon
Ambev
ABEV
+$176M
4
VEU icon
Vanguard FTSE All-World ex-US ETF
VEU
+$170M
5
AAPL icon
Apple
AAPL
+$154M

Sector Composition

Rank Sector Weight
1 Technology 28.04%
2 Financials 15.91%
3 Healthcare 15.38%
4 Industrials 8.8%
5 Communication Services 8.79%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
HDB icon
1
HDFC Bank
HDB
$115B
$965M 7.39%
29,049,364
-1,305,272
-4% -$39.8M
2016 Q4
33 quarters
TSM icon
2
TSMC
TSM
$2.35T
$955M 7.31%
5,749,962
-330,999
-5% -$64.3M
2013 Q2
47 quarters
ALC icon
3
Alcon
ALC
$31B
$676M 5.18%
7,124,512
-1,350,616
-16% -$121M
2021 Q1
16 quarters
SAP icon
4
SAP
SAP
$248B
$675M 5.17%
2,513,151
-184,927
-7% -$50.4M
2013 Q2
47 quarters
FMX icon
5
Fomento Económico Mexicano
FMX
$40.6B
$549M 4.21%
5,629,246
-198,598
-3% -$18M
2013 Q2
47 quarters
LIN icon
6
Linde
LIN
$223B
$455M 3.49%
977,508
-39,604
-4% -$17.8M
2018 Q4
25 quarters
MELI icon
7
Mercado Libre
MELI
$95.8B
$455M 3.48%
233,109
-10,286
-4% -$20.4M
2024 Q1
4 quarters
BHP icon
8
BHP
BHP
$220B
$397M 3.04%
8,186,318
-104,890
-1% -$5.22M
2020 Q4
17 quarters
MSFT icon
9
Microsoft
MSFT
$3.97T
$357M 2.73%
950,332
-178,292
-16% -$72.7M
2013 Q2
47 quarters
NFLX icon
10
Netflix
NFLX
$293B
$354M 2.71%
3,795,300
-676,600
-15% -$64.3M
2021 Q3
14 quarters
GOOGL icon
11
Alphabet (Google) Class A
GOOGL
$4.3T
$352M 2.69%
2,275,415
-406,877
-15% -$73.8M
2015 Q4
37 quarters
AMZN icon
12
Amazon
AMZN
$2.83T
$347M 2.65%
1,822,293
-285,302
-14% -$61.9M
2020 Q2
19 quarters
VRTX icon
13
Vertex Pharmaceuticals
VRTX
$129B
$339M 2.59%
698,459
-125,168
-15% -$58.3M
2018 Q4
25 quarters
BAP icon
14
Credicorp
BAP
$30.3B
$304M 2.33%
1,633,379
-68,148
-4% -$12.6M
2021 Q4
13 quarters
META icon
15
Meta Platforms (Facebook)
META
$1.83T
$272M 2.08%
472,246
-419,938
-47% -$271M
2015 Q1
40 quarters
ZTO icon
16
ZTO Express
ZTO
$15.1B
$262M 2.01%
13,207,572
-957,475
-7% -$18.7M
2019 Q4
21 quarters
UNH icon
17
UnitedHealth
UNH
$340B
$255M 1.95%
487,113
-85,292
-15% -$43.6M
2019 Q1
24 quarters
SONY icon
18
Sony
SONY
$141B
$250M 1.91%
9,830,162
-305,016
-3% -$7.05M
2023 Q2
7 quarters
CME icon
19
CME Group
CME
$101B
$247M 1.89%
929,364
-170,511
-16% -$42.1M
2020 Q3
18 quarters
SHEL icon
20
Shell
SHEL
$285B
$246M 1.88%
3,356,126
+67,681
+2% +$4.56M
2022 Q1
12 quarters
HLN icon
21
Haleon
HLN
$41B
$237M 1.82%
23,071,921
-1,054,421
-4% -$10.4M
2023 Q1
8 quarters
CNI icon
22
Canadian National Railway
CNI
$71.2B
$233M 1.79%
2,395,464
-83,193
-3% -$8.41M
2013 Q2
47 quarters
MFC icon
23
Manulife Financial
MFC
$70.2B
$231M 1.77%
7,408,865
-377,701
-5% -$11.4M
2021 Q4
13 quarters
ACN icon
24
Accenture
ACN
$128B
$220M 1.69%
706,308
-128,193
-15% -$45.3M
2021 Q1
16 quarters
DE icon
25
Deere & Co
DE
$167B
$209M 1.6%
444,558
-79,763
-15% -$37.3M
2017 Q2
31 quarters
1
2 3

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FMI
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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 Q1 2025 Portfolio in Review

As of Q1 2025, Harding Loevner held 73 positions worth $13.1B, down 12% from $14.8B the previous quarter. Its ten largest holdings account for 45% of the portfolio.

Harding Loevner withdrew a net $1.68B in Q1 2025, closing 6 positions and reducing 55 holdings. Its most notable exit was Rockwell Automation, an estimated $179M position sold in full.

By sector, the portfolio is most concentrated in Technology at 28% of assets, down from 30% a quarter earlier, followed by Financials and Healthcare.

Against the trend, Harding Loevner opened a new position in ASML worth $182M.

  • Harding Loevner's largest Q1 2025 buy was ASML: 274,611 shares worth $182M.
  • Harding Loevner added most to Atkore in Q1 2025, an estimated $47M increase.
  • Harding Loevner's biggest Q1 2025 reduction was Meta Platforms (Facebook), cutting an estimated $271M.
  • Harding Loevner fully exited Rockwell Automation in Q1 2025, selling an estimated $179M.
  • Harding Loevner's ten largest holdings make up 45% of its $13.1B portfolio in Q1 2025.
  • Harding Loevner opened 6 new positions and closed 6 in Q1 2025.
  • Harding Loevner's portfolio value fell 12% quarter-over-quarter to $13.1B.

Based on Harding Loevner's 13F filing for Q1 2025, filed 15 May 2025.