Browse the world's most comprehensive database of hedge fund investor letters, sorted by recent quarter. Access primary source research from leading institutional managers.
| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
|---|---|---|---|---|---|---|---|
Buyside Digest is not affiliated with, and does not endorse, Harding Loevner Global Equity. This analysis is provided for institutional research purposes only and is not investment advice.
"Harding Loevner Global Equity rose 10.20% net in Q2, trailing the benchmark. The fund took advantage of market volatility to buy Adobe and Japan's Disco Corp, while completely exiting UnitedHealth Group."
During Q2 2025, the Harding Loevner Global Equity composite rose 10.20% (Net), underperforming the MSCI ACWI Index's 11.7% return. Despite elevated geopolitical risks, tariff concerns, and widespread domestic protests, markets shrugged off risks and marched higher, bolstered by economic resilience and relentless AI progress. The fund utilized market corrections to buy high-conviction positions, notably adding to Adobe (arguing its editing workflow layer is secure against foundational AI model disruption) and establishing a new stake in Japan's Disco Corp. The fund actively cleaned up its portfolio by liquidating UnitedHealth Group due to soaring medical costs and regulatory issues, and exited Salesforce. New positions were also established in Johnson & Johnson, Progressive, and Visa.
Sign in or create a free account to unlock full commentary, extracted equity pitches, and direct outbound manager source links with your 3 quarterly credits.
Algorithmic conviction, macroeconomic posture, and risk appetite signals extracted from this quarterly letter with qualitative explanations.
Market Conviction
High-conviction positioning: Harding Loevner Global Equity rose 10.20% net in Q2, trailing the benchmark. The fund took advantage of market volatility to buy Adobe and Japan's Disco Corp, while completely exit...
Growth Outlook
Market outlook remains above average conviction: Harding Loevner Global Equity rose 10.20% net in Q2, trailing the benchmark. The fund took advantage of market volatility to buy Adobe and Japan's Disco Corp, while completely exit...
Risk Appetite
Risk appetite posture is above average conviction: Harding Loevner Global Equity rose 10.20% net in Q2, trailing the benchmark. The fund took advantage of market volatility to buy Adobe and Japan's Disco Corp, while completely exit...
Capital Deployment
Manager actively deployed capital into high-conviction opportunities. Harding Loevner Global Equity rose 10.20% net in Q2, trailing the benchmark. The fund took advantage of market volatility to buy Adobe and Japan's Disco Corp, while completely exit...
Forward Guidance
Forward guidance signal: Harding Loevner Global Equity rose 10.20% net in Q2, trailing the benchmark. The fund took advantage of market volatility to buy Adobe and Japan's Disco Corp, while completely exit...
Language Signal
Tone analysis indicates above average conviction language: Harding Loevner Global Equity rose 10.20% net in Q2, trailing the benchmark. The fund took advantage of market volatility to buy Adobe and Japan's Disco Corp, while completely exit...
Perceived Risk
Perceived risk level is evaluated as moderate conviction. Harding Loevner Global Equity rose 10.20% net in Q2, trailing the benchmark. The fund took advantage of market volatility to buy Adobe and Japan's Disco Corp, while completely exit...
Opportunity Density
Opportunity density index indicates above average conviction actionable entry points. Harding Loevner Global Equity rose 10.20% net in Q2, trailing the benchmark. The fund took advantage of market volatility to buy Adobe and Japan's Disco Corp, while completely exit...
Time Horizon
Investment time horizon reflects a high conviction orientation. Harding Loevner Global Equity rose 10.20% net in Q2, trailing the benchmark. The fund took advantage of market volatility to buy Adobe and Japan's Disco Corp, while completely exit...
