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HL

Harding Loevner Portfolio holdings

AUM $10.6B
1-Year Est. Return 19.39%
This Fund
S&P 500
This Quarter Est. Return
+2.41%
1 Year Est. Return
+19.39%
3 Year Est. Return
+79.14%
5 Year Est. Return
+100.61%
10 Year Est. Return
+428.16%
AUM
$14.3B
AUM Growth
+$452M
Cap. Flow
+$358M
Cap. Flow %
2.5%
Top 10 Hldgs %
35.8%
Holding
92
New
4
Increased
33
Reduced
36
Closed
18
Avg Time Held
9.6 quarters
Top 10 Avg Time Held
5.4 quarters
Top 20 Avg Time Held
7 quarters

Top Buys

Rank Stock Value
1
IBN icon
ICICI Bank
IBN
+$342M
2
CHKP icon
Check Point Software Technologies
CHKP
+$147M
3
WBA
Walgreens Boots Alliance
WBA
+$137M
4
BIDU icon
Baidu
BIDU
+$102M
5
TV icon
Televisa
TV
+$101M

Top Sells

Rank Stock Value
1
BUD icon
AB InBev
BUD
+$329M
2
WFC icon
Wells Fargo
WFC
+$171M
3
ABBV icon
AbbVie
ABBV
+$139M
4
CRM icon
Salesforce
CRM
+$116M
5
AMZN icon
Amazon
AMZN
+$112M

Sector Composition

Rank Sector Weight
1 Financials 22.06%
2 Communication Services 15.73%
3 Technology 15.09%
4 Energy 13.99%
5 Consumer Discretionary 10.1%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
BBD icon
26
Banco Bradesco
BBD
$45.5B
$180M 1.26%
40,047,364
+2,060,447
+5% +$9.67M
2013 Q2
14 quarters
ASR icon
27
Grupo Aeroportuario del Sureste
ASR
$6.95B
$177M 1.24%
1,232,604
+54,701
+5% +$8.25M
2013 Q2
14 quarters
CL icon
28
Colgate-Palmolive
CL
$70.4B
$174M 1.22%
2,663,930
-18,417
-0.7% -$1.26M
2013 Q2
14 quarters
CHL
29
DELISTED
China Mobile Limited
CHL
$162M 1.13%
3,083,170
-991,502
-24% -$55.7M
2015 Q1
7 quarters
BBVA icon
30
Banco Bilbao Vizcaya Argentaria
BBVA
$144B
$162M 1.13%
24,313,189
+14,936,736
+159% +$96.4M
2013 Q2
14 quarters
IPGP icon
31
IPG Photonics
IPGP
$3.33B
$160M 1.12%
1,623,682
-12,508
-0.8% -$1.17M
2014 Q2
10 quarters
META icon
32
Meta Platforms (Facebook)
META
$1.83T
$159M 1.11%
1,385,279
-11,039
-0.8% -$1.36M
2015 Q1
7 quarters
JD icon
33
JD.com
JD
$36.6B
$157M 1.1%
6,188,136
+1,514,481
+32% +$39.5M
2015 Q4
4 quarters
BAP icon
34
Credicorp
BAP
$30.3B
$157M 1.1%
993,638
+50,644
+5% +$7.76M
2013 Q2
14 quarters
XOM icon
35
ExxonMobil
XOM
$695B
$153M 1.07%
1,699,667
-10,048
-0.6% -$878K
2013 Q2
14 quarters
AMZN icon
36
Amazon
AMZN
$2.83T
$148M 1.03%
3,948,240
-2,855,640
-42% -$112M
2015 Q1
7 quarters
JOBS
37
DELISTED
51job Inc
JOBS
$145M 1.01%
4,294,445
+248,296
+6% +$8.33M
2013 Q2
14 quarters
CIB icon
38
Grupo Cibest SA
CIB
$22.4B
$144M 1%
3,918,651
+186,936
+5% +$6.83M
2013 Q2
14 quarters
MA icon
39
Mastercard
MA
$516B
$141M 0.99%
1,366,646
-10,503
-0.8% -$1.09M
2013 Q3
13 quarters
COR icon
40
Cencora
COR
$61.8B
$141M 0.98%
1,797,313
+564,341
+46% +$44M
2016 Q2
2 quarters
FMS icon
41
Fresenius Medical Care
FMS
$11.2B
$139M 0.97%
3,295,613
-37,027
-1% -$1.51M
2013 Q2
14 quarters
WBA
42
DELISTED
Walgreens Boots Alliance
WBA
$137M 0.96%
+1,651,990
New +$137M
2016 Q4
0 quarters
BSAC icon
43
Banco Santander Chile
BSAC
$15.2B
$131M 0.92%
6,003,756
+288,138
+5% +$6.3M
2013 Q2
14 quarters
WAT icon
44
Waters Corp
WAT
$42.6B
$131M 0.91%
972,973
-9,545
-1% -$1.36M
2014 Q2
10 quarters
SBNY
45
DELISTED
Signature Bank
SBNY
$130M 0.91%
862,399
-143,297
-14% -$19.5M
2016 Q1
3 quarters
CGNX icon
46
Cognex
CGNX
$10.6B
$129M 0.9%
4,049,020
-1,928,752
-32% -$55.3M
2015 Q3
5 quarters
MMM icon
47
3M
MMM
$82.5B
$117M 0.82%
783,458
-1,845
-0.2% -$266K
2013 Q2
14 quarters
REGN icon
48
Regeneron Pharmaceuticals
REGN
$76.9B
$116M 0.81%
315,238
-3,327
-1% -$1.27M
2016 Q2
2 quarters
ABEV icon
49
Ambev
ABEV
$49.2B
$114M 0.8%
23,231,314
+1,341,158
+6% +$7.24M
2013 Q4
12 quarters
NBIS
50
Nebius Group N.V.
NBIS
$60.1B
$113M 0.79%
5,605,438
-57,173
-1% -$1.12M
2014 Q1
11 quarters
1
2
3 4

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VAS
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DPIM
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CA
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SCM
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FCM
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URS
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AAM
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Harding Loevner's Q4 2016 Portfolio in Review

As of Q4 2016, Harding Loevner held 92 positions worth $14.3B, up 3.3% from $13.9B the previous quarter. Its ten largest holdings account for 36% of the portfolio.

Harding Loevner's Q4 2016 filing shows 4 new, 33 increased, 36 reduced and 18 closed positions. Its largest new stake was Walgreens Boots Alliance: 1,651,990 shares worth $137M. The largest sale was AB InBev, an estimated $329M.

By sector, the portfolio is most concentrated in Financials at 22% of assets, up from 18% a quarter earlier, followed by Communication Services and Technology.

  • Harding Loevner's largest Q4 2016 buy was Walgreens Boots Alliance: 1,651,990 shares worth $137M.
  • Harding Loevner added most to ICICI Bank in Q4 2016, an estimated $342M increase.
  • Harding Loevner's biggest Q4 2016 reduction was Amazon, cutting an estimated $112M.
  • Harding Loevner fully exited AB InBev in Q4 2016, selling an estimated $329M.
  • Harding Loevner's ten largest holdings make up 36% of its $14.3B portfolio in Q4 2016.
  • Harding Loevner opened 4 new positions and closed 18 in Q4 2016.
  • Harding Loevner's portfolio value rose 3.3% quarter-over-quarter to $14.3B.

Based on Harding Loevner's 13F filing for Q4 2016, filed 11 Jan 2017.