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HL

Harding Loevner Portfolio holdings

AUM $9.72B
1-Year Est. Return 22.38%
This Fund
S&P 500
This Quarter Est. Return
+1.58%
1 Year Est. Return
+22.38%
3 Year Est. Return
+79.36%
5 Year Est. Return
+98.01%
10 Year Est. Return
+375.62%
AUM
$12.4B
AUM Growth
-$1.07B
Cap. Flow
-$1.18B
Cap. Flow %
-9.46%
Top 10 Hldgs %
33.01%
Holding
95
New
10
Increased
29
Reduced
42
Closed
6

Top Buys

Rank Stock Value
1
VRSK icon
Verisk Analytics
VRSK
+$123M
2
TV icon
Televisa
TV
+$104M
3
SAP icon
SAP
SAP
+$91M
4
GRFS
Grifois
GRFS
+$61.5M
5
CIB icon
Grupo Cibest SA
CIB
+$57.6M

Top Sells

Rank Stock Value
1
SIAL
SIGMA - ALDRICH CORP
SIAL
+$409M
2
AGN
Allergan Inc
AGN
+$303M
3
CTSH icon
Cognizant
CTSH
+$138M
4
ITUB icon
Itaú Unibanco
ITUB
+$134M
5
HDB icon
HDFC Bank
HDB
+$56M

Sector Composition

Rank Sector Weight
1 Financials 21.7%
2 Technology 16.09%
3 Consumer Staples 10.17%
4 Energy 9.1%
5 Communication Services 8.12%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FMX icon
51
Fomento Económico Mexicano
FMX
$41.7B
$84.8M 0.68%
963,301
+160,857
+20% +$14.7M
FMS icon
52
Fresenius Medical Care
FMS
$12.9B
$76.9M 0.62%
2,071,697
+17,678
+0.9% +$637K
JOBS
53
DELISTED
51job Inc
JOBS
$75.2M 0.6%
2,098,384
+300,800
+17% +$10M
CEO
54
DELISTED
CNOOC Limited
CEO
$74.9M 0.6%
552,969
+97,850
+21% +$14.7M
ABEV icon
55
Ambev
ABEV
$46.4B
$70M 0.56%
11,258,552
+291,100
+3% +$1.84M
BSAC icon
56
Banco Santander Chile
BSAC
$16.6B
$67.9M 0.55%
3,442,308
+348,857
+11% +$7.44M
BBVA icon
57
Banco Bilbao Vizcaya Argentaria
BBVA
$156B
$67.4M 0.54%
7,554,792
-131,581
-2% -$1.34M
GRFS
58
Grifois
GRFS
$5.4B
$60.8M 0.49%
3,577,942
+3,574,942
+119,165% +$61.5M
TS icon
59
Tenaris
TS
$26.8B
$59.3M 0.48%
1,963,282
+547,960
+39% +$19.6M
CIB icon
60
Grupo Cibest SA
CIB
$21.1B
$59M 0.47%
1,232,021
+1,081,021
+716% +$57.6M
TCOM icon
61
Trip.com Group
TCOM
$29.1B
$57.2M 0.46%
2,514,802
+1,332,036
+113% +$34.9M
NBIS
62
Nebius Group N.V.
NBIS
$47.7B
$56.3M 0.45%
3,135,957
-545,014
-15% -$13.1M
SHPG
63
DELISTED
Shire pic
SHPG
$54.3M 0.44%
255,463
+243,787
+2,088% +$51.7M
UL icon
64
Unilever
UL
$136B
$52.9M 0.43%
1,160,992
+7,996
+0.7% +$367K
VALE icon
65
Vale
VALE
$62.6B
$47.3M 0.38%
5,777,426
+947,900
+20% +$8.87M
VEU icon
66
Vanguard FTSE All-World ex-US ETF
VEU
$68.5B
$40.5M 0.33%
+863,551
New +$41.5M
SSL icon
67
Sasol
SSL
$7.1B
$37.8M 0.3%
995,198
-49,193
-5% -$2.23M
IMS
68
DELISTED
IMS HEALTH HLDGS INC COM STK (DE)
IMS
$22M 0.18%
+858,394
New +$21.7M
PSMT icon
69
Pricesmart
PSMT
$5.46B
$9.74M 0.08%
106,770
+920
+0.9% +$83.2K
VALE.P
70
DELISTED
Vale S A
VALE.P
$9.42M 0.08%
1,296,940
+210,269
+19% +$1.7M
VEA icon
71
Vanguard FTSE Developed Markets ETF
VEA
$236B
$8.27M 0.07%
+218,300
New +$8.45M
SCZ icon
72
iShares MSCI EAFE Small-Cap ETF
SCZ
$13.7B
$8.03M 0.06%
+171,800
New +$8.11M
CPA icon
73
Copa Holdings
CPA
$5.8B
$6.86M 0.06%
66,150
-278,046
-81% -$29.6M
ASML icon
74
ASML
ASML
$669B
$3.12M 0.03%
+28,960
New +$2.94M
PHI icon
75
PLDT
PHI
$4.33B
$2.31M 0.02%
36,500
-1,500
-4% -$99.4K
1 2
3
4

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DCP
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FCM
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CCM
Cullen Capital Management New York $9.75B AUM 21.81% 1-Year Est. Return
URS
Utah Retirement Systems Salt Lake City, Utah $9.78B AUM 28.72% 1-Year Est. Return
MPI
Mairs & Power Inc St Paul, Minnesota $9.79B AUM 20.6% 1-Year Est. Return
TIM
Thornburg Investment Management Santa Fe, New Mexico $9.63B AUM 35.65% 1-Year Est. Return
SC
Sculptor Capital New York $9.61B AUM 27.5% 1-Year Est. Return
TCA
Tortoise Capital Advisors Overland Park, Kansas $9.6B AUM 19.53% 1-Year Est. Return

Harding Loevner's Q4 2014 Portfolio in Review

As of Q4 2014, Harding Loevner held 95 positions worth $12.4B, down 7.9% from $13.5B the previous quarter. Its ten largest holdings account for 33% of the portfolio.

Harding Loevner withdrew a net $1.18B in Q4 2014, closing 6 positions and reducing 42 holdings. Its most notable exit was SIGMA - ALDRICH CORP, an estimated $409M position sold in full.

By sector, the portfolio is most concentrated in Financials at 22% of assets, up from 21% a quarter earlier, followed by Technology and Consumer Staples.

Against the trend, Harding Loevner opened a new position in Verisk Analytics worth $126M.

  • Harding Loevner's largest Q4 2014 buy was Verisk Analytics: 1,972,752 shares worth $126M.
  • Harding Loevner added most to SAP in Q4 2014, an estimated $91M increase.
  • Harding Loevner's biggest Q4 2014 reduction was Itaú Unibanco, cutting an estimated $134M.
  • Harding Loevner fully exited SIGMA - ALDRICH CORP in Q4 2014, selling an estimated $409M.
  • Harding Loevner's ten largest holdings make up 33% of its $12.4B portfolio in Q4 2014.
  • Harding Loevner opened 10 new positions and closed 6 in Q4 2014.
  • Harding Loevner's portfolio value fell 7.9% quarter-over-quarter to $12.4B.

Based on Harding Loevner's 13F filing for Q4 2014, filed 12 Jan 2015.