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Name

As of 06/01/2026

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Harding Loevner International Equity Portfolio

HLIZX | Fund

$31.15

$12.3 B

1.86%

$0.58

0.73%

Vitals

YTD Return

14.8%

1 yr return

28.6%

3 Yr Avg Return

16.1%

5 Yr Avg Return

6.2%

Net Assets

$12.3 B

Holdings in Top 10

31.0%

52 WEEK LOW AND HIGH

$31.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.73%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 14.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$10,000,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 06/01/2026

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Harding Loevner International Equity Portfolio

HLIZX | Fund

$31.15

$12.3 B

1.86%

$0.58

0.73%

HLIZX - Profile

Distributions

  • YTD Total Return 14.8%
  • 3 Yr Annualized Total Return 16.1%
  • 5 Yr Annualized Total Return 6.2%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.25%
DIVIDENDS
  • Dividend Yield 1.9%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Harding Loevner International Equity Portfolio
  • Fund Family Name
    Harding Loevner
  • Inception Date
    Jul 17, 2017
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Ferrill Roll

Fund Description

The Portfolio invests primarily in companies based in developed markets outside the United States as well as in companies in emerging and frontier markets. Harding Loevner LP (“Harding Loevner”), the Portfolio’s investment adviser, undertakes fundamental research in an effort to identify companies that are well managed, financially sound, fast growing, and strongly competitive, and whose shares are reasonably priced relative to estimates of their value. To reduce its volatility, the Portfolio is diversified across dimensions of geography, industry, currency, and market capitalization. The Portfolio normally holds investments across at least 15 countries.
Factors bearing on whether a company is considered to be “based” outside the United States may include: (1) it is legally domiciled outside the United States; (2) it conducts at least 50% of its business, as measured by the location of its sales, earnings, assets, or production, outside the United States; or (3) it has the principal exchange listing for its securities outside the United States.
The Portfolio will normally invest broadly in equity securities of companies domiciled in the following countries and regions: (1) Europe; (2) the Pacific Rim; (3) Canada and Mexico; and (4) countries with emerging or frontier markets. At least 65% of the Portfolio’s total assets will be denominated in at least three currencies other than the U.S. dollar. For purposes of compliance with this restriction, American Depositary Receipts (“ADRs”), Global Depositary Receipts (“GDRs”), and European Depositary Receipts (“EDRs”) will be considered to be denominated in the currency of the country where the securities underlying the depositary receipts are principally traded.
The Portfolio invests, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in common stocks, preferred stocks, rights, and warrants issued by companies that are based outside the United States, securities convertible into such securities (including depositary receipts), and investment companies that invest in the types of securities in which the Portfolio would normally invest. The Portfolio also may invest in securities of U.S. companies that derive, or are expected to derive, a significant portion of their revenues from their foreign operations, although under normal circumstances not more than 15% of the Portfolio’s total assets will be invested in securities of U.S. companies.
Because some emerging market may present difficulties for efficient foreign investment, the Portfolio may use equity derivative securities to gain exposure to issuers in those countries.
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HLIZX - Performance

Return Ranking - Trailing

Period HLIZX Return Category Return Low Category Return High Rank in Category (%)
YTD 14.8% -17.5% 33.3% 11.30%
1 Yr 28.6% -16.1% 48.3% 10.43%
3 Yr 16.1%* -0.8% 27.7% 23.48%
5 Yr 6.2%* -8.8% 15.6% 17.47%
10 Yr N/A* 3.1% 12.9% 32.69%

* Annualized

Return Ranking - Calendar

Period HLIZX Return Category Return Low Category Return High Rank in Category (%)
2025 10.8% -72.4% 43.6% 75.07%
2024 -5.6% -28.0% 29.8% 91.30%
2023 10.8% -0.4% 28.6% 85.51%
2022 -22.1% -49.5% -15.2% 21.05%
2021 5.8% -22.2% 19.3% 26.81%

Total Return Ranking - Trailing

Period HLIZX Return Category Return Low Category Return High Rank in Category (%)
YTD 14.8% -17.5% 33.3% 11.30%
1 Yr 28.6% -16.1% 48.3% 10.43%
3 Yr 16.1%* -0.8% 27.7% 23.48%
5 Yr 6.2%* -8.8% 15.6% 17.47%
10 Yr N/A* 3.1% 12.9% 30.74%

* Annualized

Total Return Ranking - Calendar

Period HLIZX Return Category Return Low Category Return High Rank in Category (%)
2025 27.7% -1.0% 47.2% 21.16%
2024 1.4% -7.0% 33.0% 73.04%
2023 15.1% 1.8% 28.6% 63.48%
2022 -22.1% -44.4% -11.0% 29.24%
2021 8.6% -20.6% 20.5% 53.31%

NAV & Total Return History

HLIZX - Holdings

Concentration Analysis

HLIZX Category Low Category High HLIZX % Rank
Net Assets 12.3 B 4.24 M 137 B 20.58%
Number of Holdings 66 6 1720 53.33%
Net Assets in Top 10 3.9 B 1.38 M 30.7 B 17.68%
Weighting of Top 10 31.00% 13.0% 99.3% 55.94%

Top 10 Holdings

  1. SAMSUNG ELECTRS LTD GDR 1 4.78%
  2. TAIWAN SEMICON. MFG. ADR 4.02%
  3. ASML HLDG. NV 3.81%
  4. DBS GRP. HLDGS. LTD 3.09%
  5. DELTA ELECTRONIC TWD10 2.78%
  6. AIA GRP. LTD 2.77%
  7. SHELL PLC 2.67%
  8. HDFC BANK LTD ADR 2.46%
  9. ROCHE HOLDINGS AG GENUSSC 2.32%
  10. ALLIANZ SE 2.30%

Asset Allocation

Weighting Return Low Return High HLIZX % Rank
Stocks 		95.40% 84.91% 103.40% 91.59%
Preferred Stocks 		2.32% 0.00% 3.51% 8.12%
Cash 		2.29% 0.00% 8.28% 49.86%
Other 		0.00% -0.78% 14.24% 75.36%
Convertible Bonds 		0.00% 0.00% 2.45% 69.77%
Bonds 		0.00% 0.00% 2.17% 69.28%

Stock Sector Breakdown

Weighting Return Low Return High HLIZX % Rank
Financial Services 		17.17% 0.00% 38.62% 23.26%
Technology 		16.80% 1.51% 38.21% 57.56%
Industrials 		16.64% 0.68% 31.28% 36.34%
Healthcare 		14.73% 1.36% 29.58% 50.29%
Consumer Defense 		12.16% 0.00% 25.77% 26.16%
Basic Materials 		10.77% 0.00% 23.15% 13.66%
Communication Services 		4.43% 0.00% 41.13% 44.19%
Consumer Cyclical 		3.97% 0.00% 41.53% 96.51%
Energy 		1.90% 0.00% 24.97% 49.13%
Utilities 		1.44% 0.00% 9.05% 22.38%
Real Estate 		0.00% 0.00% 6.64% 83.43%

Stock Geographic Breakdown

Weighting Return Low Return High HLIZX % Rank
Non US 		73.32% 0.00% 99.98% 84.06%
US 		22.08% 0.00% 99.27% 18.26%

HLIZX - Expenses

Operational Fees

HLIZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.73% 0.01% 15.90% 81.34%
Management Fee 0.67% 0.00% 1.21% 41.16%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.03% 0.40% N/A

Sales Fees

HLIZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

HLIZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.25% 2.00% 55.56%

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

HLIZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 14.00% 7.00% 149.00% 18.57%

HLIZX - Distributions

Dividend Yield Analysis

HLIZX Category Low Category High HLIZX % Rank
Dividend Yield 1.86% 0.00% 11.77% 4.94%

Dividend Distribution Analysis

HLIZX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual SemiAnnual Annual

Net Income Ratio Analysis

HLIZX Category Low Category High HLIZX % Rank
Net Income Ratio 1.25% -1.69% 3.16% 5.87%

Capital Gain Distribution Analysis

HLIZX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Quarterly Annually

Distributions History

View More +

HLIZX - Fund Manager Analysis

Managers

Ferrill Roll

Start Date

Tenure

Tenure Rank

Oct 31, 2004

17.59

17.6%

Ferrill Roll, CFA, has been a portfolio manager with Harding Loevner since 2001 and an analyst since 1996. He is a Co-Lead Portfolio Manager for the International Equity Fund. and a Financials analyst. He joined the firm in 1996 and is a Partner. Ferrill has extensive experience, including serving as general partner of Cesar Montemayor Capital, LP, a global investment partnership investing in fixed income, currency, and equity markets. Ferrill began his career at JP Morgan. He graduated from Stanford University (1980) with a degree in Economics and is a CFA Charterholder.

Bryan Lloyd

Start Date

Tenure

Tenure Rank

Jun 30, 2014

7.92

7.9%

Bryan Lloyd is a portfolio manager of the International Equity strategy and a Financials analyst. He is a Partner of the firm and has over 21 years of industry experience. He joined Harding Loevner in 2011 after seven years at Calamos Asset Management. While at Calamos, Bryan served as vice president/senior analyst of financial services and prior to that held the position of research analyst. From 1999–2003, he worked at Credit Suisse First Boston as an associate in equity research. Earlier in his career, he served as a credit analyst at ABN AMRO Bank and as a financial analyst at M&T Bank. He is a graduate of Lafayette College with a BA in Mathematics and Economics and is a CFA® charterholder.

Andrew West

Start Date

Tenure

Tenure Rank

Jun 30, 2014

7.92

7.9%

Andrew West is the manager of research, a portfolio manager of the International Equity, International Equity Research, Global Equity Research, and Emerging Markets Research strategies, and a Consumer Discretionary and Industrials analyst. As manager of research, Andrew is responsible for monitoring and supporting the quality and consistency of analyst output. He is a Partner of the firm and has over 25 years of industry experience. Prior to joining Harding Loevner in 2006, Andrew worked at Standard & Poor’s Equity Research, Veitia & Associates, and International Assets Advisory Corp. Andrew holds a BS in Business Administration/Finance from the University of Central Florida and an MBA in Finance and International Business from the New York University Leonard N. Stern School of Business. He is also a CFA® charterholder.

Patrick Todd

Start Date

Tenure

Tenure Rank

Jan 03, 2017

5.41

5.4%

Patrick Todd is a portfolio manager of the International Equity strategy and a Health Care and Real Estate analyst. Patrick joined Harding Loevner in 2012 and has over 11 years of industry experience. He previously worked at Gabelli & Company as a research analyst, Ironbound Capital as a research analyst, and Merrill Lynch Investment Managers as a portfolio specialist. Patrick holds a BA in Biochemical Sciences from Harvard University and an MBA in Applied Value Investing from Columbia Business School. He is also a CFA® charterholder.

Babatunde Ojo

Start Date

Tenure

Tenure Rank

Jan 31, 2021

1.33

1.3%

Babatunde Ojo, CFA has been a portfolio manager since 2014 and an analyst since 2012. As an analyst, he focuses on frontier emerging markets companies. Mr. Ojo graduated from University of Lagos in 2002. He received an MBA in Finance and Management from University of Pennsylvania, the Wharton School, in 2012 and joined Harding Loevner that same year. Mr. Ojo serves as a co-lead portfolio manager for the Frontier Emerging Markets Portfolio.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.16 26.94 7.99 20.01

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