HARDING LOEVNER LP

CIK 0000928196 · Q1 2026

13F Equity AUM

$9.7B

-14.5% QoQ

Positions

-3 QoQ

AUM Rank

#654

Top 5%

Skill Alpha (FF)

-2.6%/yr^ns

No Clear Edge

Rank #5,931 · Top 72%

vs S&P -4.4%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 30.6%Top 10: 45.5%Top 20: 66.3%

TSM12.2%

FMX6.3%

BAP4.6%

HDB3.8%

RYAAY3.7%

MLB13.3%

CNR3.0%

ASML2.9%

NSY2.9%

SHEL2.7%

Others (63)54.5%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Technology32.1%

Financial Services18.8%

Healthcare9.4%

Industrials9.4%

Consumer Cyclical7.7%

Communication Services7.1%

Energy6.9%

Consumer Defensive6.3%

Other2.2%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 73Median: 0.89%Avg: 1.37%

0–0.5%

19(1.6%)

0.5–1%

21(16.2%)

1–3%

26(45.3%)

3–5%

5(18.4%)

5%+

2(18.5%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 73Unique: 0vs 20 funds

1%Low

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

BlackRock, Inc.

1.8%

MORGAN STANLEY

1.4%

BANK OF AMERICA CORP /DE/

1.5%

JPMORGAN CHASE & CO

1.5%

FMR LLC

2.4%

STATE STREET CORP

1.7%

GEODE CAPITAL MANAGEMENT, LLC

1.4%

VANGUARD PORTFOLIO MANAGEMENT LLC

1.6%

VANGUARD CAPITAL MANAGEMENT LLC

1.3%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New3Increased10Decreased60Exited6

New Positions

RGA1.5%

+697K

AZN0.8%

+411K

NVT0.8%

+625K

Increased

RYAAY3.7%

+1.2M(+25%)

CNR3.0%

+698K(+33%)

NVDA2.3%

+412K(+48%)

V1.0%

+91K(+38%)

SLB1.0%

+42K(+2%)

ACWI0.1%

+40K(+73%)

EPAM0.1%

+6K(+20%)

EFX0.6%

+4K(+1%)

HEI0.8%

+3K(+1%)

EFG0.0%

+1K(+80%)

Decreased

HDB3.8%

-10,330,130(-41%)

ALC0.0%

-4,788,220(-100%)

HLN1.6%

-903,137(-5%)

TSM12.2%

-835,730(-19%)

BBVA1.4%

-567,010(-8%)

VEU1.1%

-519,357(-27%)

SONY1.4%

-405,766(-6%)

FMX6.3%

-375,503(-6%)

PTI0.8%

-277,340(-6%)

CME1.0%

-255,021(-43%)

Exited

-920,272

-139,760

-83,350

-14,060

-16,692

-809

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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