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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
|---|---|---|---|---|---|---|---|
Buyside Digest is not affiliated with, and does not endorse, Harding Loevner International Small Companies Equity. This analysis is provided for institutional research purposes only and is not investment advice.
"It is actively positioning in agile international small caps utilizing AI to streamline operations and create specialized market offerings."
In Q2 2025, the Harding Loevner International Small Companies Equity composite rose 17.00% gross of fees, in line with the MSCI ACWI ex US Small Cap Index's 17.2%. The report emphasizes the structural trend of AI adoption. Rather than building models, portfolio small caps are adopting AI to drive efficiency (e.g., Shift, Alten) and security (e.g., CyberArk). The fund added to its position in Globant, established new positions in Croda, FPT, Rohto Pharmaceutical, Spirax Group, and Temenos Group, and fully exited Jarir Marketing, Solasto, and Verallia.
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Algorithmic conviction, macroeconomic posture, and risk appetite signals extracted from this quarterly letter with qualitative explanations.
Market Conviction
Growth Outlook
Risk Appetite
Capital Deployment
Forward Guidance
Language Signal
Perceived Risk
Opportunity Density
Time Horizon