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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
+15.38%
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
$14.9B
AUM Growth
+$1.8B
Cap. Flow
+$163M
Cap. Flow %
1.1%
Top 10 Hldgs %
44.49%
Holding
72
New
5
Increased
30
Reduced
32
Closed
4

Top Buys

Rank Stock Value
1
NTES icon
NetEase
NTES
+$289M
2
RYAAY icon
Ryanair
RYAAY
+$223M
3
V icon
Visa
V
+$98.2M
4
PGR icon
Progressive
PGR
+$95.8M
5
JNJ icon
Johnson & Johnson
JNJ
+$89M

Top Sells

Rank Stock Value
1
UNH icon
UnitedHealth
UNH
+$255M
2
CRM icon
Salesforce
CRM
+$150M
3
ACN icon
Accenture
ACN
+$84.3M
4
NFLX icon
Netflix
NFLX
+$82.4M
5
TMO icon
Thermo Fisher Scientific
TMO
+$78.2M

Sector Composition

Rank Sector Weight
1 Technology 28.97%
2 Financials 16.88%
3 Communication Services 11.68%
4 Healthcare 11.25%
5 Industrials 9.76%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TSM icon
1
TSMC
TSM
$2.09T
$1.27B 8.56%
5,614,431
-135,531
-2% -$25.1M
HDB icon
2
HDFC Bank
HDB
$119B
$1.09B 7.3%
28,312,544
-736,820
-3% -$26.7M
SAP icon
3
SAP
SAP
$187B
$750M 5.04%
2,465,593
-47,558
-2% -$13.6M
ALC icon
4
Alcon
ALC
$33.1B
$619M 4.16%
7,007,181
-117,331
-2% -$10.5M
MELI icon
5
Mercado Libre
MELI
$91.3B
$585M 3.93%
223,680
-9,429
-4% -$22M
FMX icon
6
Fomento Económico Mexicano
FMX
$43.3B
$557M 3.75%
5,408,814
-220,432
-4% -$22.7M
MSFT icon
7
Microsoft
MSFT
$2.84T
$483M 3.25%
970,400
+20,068
+2% +$8.71M
LIN icon
8
Linde
LIN
$237B
$445M 2.99%
948,412
-29,096
-3% -$13.3M
NFLX icon
9
Netflix
NFLX
$292B
$411M 2.76%
3,066,550
-728,750
-19% -$82.4M
GOOGL icon
10
Alphabet (Google) Class A
GOOGL
$3.91T
$408M 2.75%
2,317,026
+41,611
+2% +$6.81M
AMZN icon
11
Amazon
AMZN
$2.5T
$407M 2.74%
1,854,371
+32,078
+2% +$6.35M
BHP icon
12
BHP
BHP
$213B
$382M 2.57%
7,932,302
-254,016
-3% -$12.2M
META icon
13
Meta Platforms (Facebook)
META
$1.51T
$355M 2.39%
480,942
+8,696
+2% +$5.37M
BAP icon
14
Credicorp
BAP
$30.9B
$353M 2.37%
1,577,714
-55,665
-3% -$11.3M
NTES icon
15
NetEase
NTES
$76.5B
$348M 2.34%
2,582,636
+2,512,165
+3,565% +$289M
VRTX icon
16
Vertex Pharmaceuticals
VRTX
$121B
$317M 2.13%
711,611
+13,152
+2% +$6.06M
TW icon
17
Tradeweb Markets
TW
$21.3B
$261M 1.76%
1,782,816
+531,715
+42% +$74.2M
CME icon
18
CME Group
CME
$92.2B
$261M 1.76%
946,808
+17,444
+2% +$4.74M
RYAAY icon
19
Ryanair
RYAAY
$29.5B
$253M 1.7%
+4,387,970
New +$223M
SONY icon
20
Sony
SONY
$123B
$251M 1.69%
9,631,000
-199,162
-2% -$4.98M
CNI icon
21
Canadian National Railway
CNI
$78.5B
$242M 1.63%
2,325,177
-70,287
-3% -$7.15M
HLN icon
22
Haleon
HLN
$43.1B
$234M 1.57%
22,551,041
-520,880
-2% -$5.49M
SHEL icon
23
Shell
SHEL
$245B
$233M 1.57%
3,312,679
-43,447
-1% -$2.91M
DE icon
24
Deere & Co
DE
$170B
$231M 1.55%
454,468
+9,910
+2% +$4.85M
ASML icon
25
ASML
ASML
$675B
$222M 1.49%
276,554
+1,943
+0.7% +$1.39M
1
2 3

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CCM
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Harding Loevner's Q2 2025 Portfolio in Review

As of Q2 2025, Harding Loevner held 72 positions worth $14.9B, up 14% from $13.1B the previous quarter. Its ten largest holdings account for 44% of the portfolio.

Harding Loevner's Q2 2025 filing shows 5 new, 30 increased, 32 reduced and 4 closed positions. Its largest new stake was Ryanair: 4,387,970 shares worth $253M. The largest sale was UnitedHealth, an estimated $255M.

By sector, the portfolio is most concentrated in Technology at 29% of assets, up from 28% a quarter earlier, followed by Financials and Communication Services.

  • Harding Loevner's largest Q2 2025 buy was Ryanair: 4,387,970 shares worth $253M.
  • Harding Loevner added most to NetEase in Q2 2025, an estimated $289M increase.
  • Harding Loevner's biggest Q2 2025 reduction was Salesforce, cutting an estimated $150M.
  • Harding Loevner fully exited UnitedHealth in Q2 2025, selling an estimated $255M.
  • Harding Loevner's ten largest holdings make up 44% of its $14.9B portfolio in Q2 2025.
  • Harding Loevner opened 5 new positions and closed 4 in Q2 2025.
  • Harding Loevner's portfolio value rose 14% quarter-over-quarter to $14.9B.

Based on Harding Loevner's 13F filing for Q2 2025, filed 14 Aug 2025.