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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
+8.38%
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
$12.3B
AUM Growth
-$54.7M
(-0.44%)
Cap. Flow
-$746M
Cap. Flow
% of AUM
-6.04%
Top 10 Holdings %
Top 10 Hldgs %
34.87%
Holding
133
New
31
Increased
21
Reduced
50
Closed
22
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class A
GOOGL
|
+$335M |
| 2 |
Itaú Unibanco
ITUB
|
+$185M |
| 3 |
GRFS
Grifois
GRFS
|
+$110M |
| 4 |
CBD
Companhia Brasileira de Distribuicao
CBD
|
+$52.4M |
| 5 |
Televisa
TV
|
+$48.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$340M |
| 2 |
eBay
EBAY
|
+$135M |
| 3 |
Imperial Oil
IMO
|
+$88.9M |
| 4 |
Nike
NKE
|
+$61.9M |
| 5 |
NVO
Novo Nordisk
NVO
|
+$59.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 18.42% |
| 2 | Technology | 16.35% |
| 3 | Communication Services | 14.78% |
| 4 | Consumer Discretionary | 10.22% |
| 5 | Energy | 8.62% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
NBIS
51
Nebius Group N.V.
NBIS
$47.7B
| $93.1M | 0.75% |
5,924,875
-1,628,568
| -22% | -$24.4M |
|
52
Unilever
UL
$136B
| $90.6M | 0.73% |
1,889,678
-61,646
| -3% | -$3.01M |
|
53
Banco Bradesco
BBD
$36.7B
| $90.1M | 0.73% |
39,801,652
+3,747,276
| +10% | +$9.84M |
|
|
JOBS
54
DELISTED
51job Inc
JOBS
| $89.9M | 0.73% |
3,050,972
+95,530
| +3% | +$2.99M |
|
|
CBD
55
DELISTED
Companhia Brasileira de Distribuicao
CBD
| $83.9M | 0.68% |
7,972,935
+4,019,400
| +102% | +$52.4M |
|
56
Banco Santander Chile
BSAC
$16.6B
| $80.9M | 0.65% |
4,584,047
+73,460
| +2% | +$1.37M |
|
57
Trimble
TRMB
$13.9B
| $78.6M | 0.64% |
3,665,540
-513,147
| -12% | -$10.7M |
|
58
Ambev
ABEV
$46.4B
| $73.8M | 0.6% |
16,547,521
-247,200
| -1% | -$1.21M |
|
59
Grupo Cibest SA
CIB
$21.1B
| $68.9M | 0.56% |
2,574,684
+71,150
| +3% | +$2.24M |
|
60
Banco Bilbao Vizcaya Argentaria
BBVA
$156B
| $57.1M | 0.46% |
8,167,968
-788,091
| -9% | -$6.3M |
|
61
America Movil
AMX
$71.2B
| $53.6M | 0.43% |
3,812,230
-783,644
| -17% | -$12.8M |
|
62
Sasol
SSL
$7.1B
| $53M | 0.43% |
1,969,553
-184,514
| -9% | -$5.4M |
|
63
Fomento Económico Mexicano
FMX
$41.7B
| $50.1M | 0.41% |
542,667
+15,600
| +3% | +$1.5M |
|
64
Vanguard FTSE All-World ex-US ETF
VEU
$68.5B
| $49.4M | 0.4% |
1,158,060
+987,552
| +579% | +$44.2M |
|
65
Coca-Cola Femsa
KOF
$23.2B
| $21.7M | 0.18% |
306,010
+112,669
| +58% | +$8.36M |
|
66
Pricesmart
PSMT
$5.46B
| $8.65M | 0.07% |
104,270
| – | – |
|
67
Vanguard FTSE All-World ex-US Small-Cap Index Fund
VSS
$11.9B
| $4.75M | 0.04% |
+51,100
| New | +$4.82M |
|
68
iShares MSCI India ETF
INDA
$6.63B
| $4.67M | 0.04% |
169,700
-654,664
| -79% | -$18.3M |
|
69
Ecopetrol
EC
$34.5B
| $3.95M | 0.03% |
563,734
+410,234
| +267% | +$3.54M |
|
70
iShares MSCI ACWI ex US ETF
ACWX
$11.8B
| $3.16M | 0.03% |
+81,368
| New | +$3.33M |
|
71
iShares MSCI ACWI ETF
ACWI
$33.5B
| $2.51M | 0.02% |
+45,844
| New | +$2.62M |
|
|
SHPG
72
DELISTED
Shire pic
SHPG
| $2.45M | 0.02% |
12,207
-253,305
| -95% | -$52.6M |
|
73
iShares MSCI Emerging Markets ETF
EEM
$29.5B
| $2.42M | 0.02% |
+75,290
| New | +$2.58M |
|
74
Copa Holdings
CPA
$5.8B
| $1.63M | 0.01% |
33,695
-36,280
| -52% | -$1.89M |
|
75
Steris
STE
$23.1B
| $1.62M | 0.01% |
+21,513
| New | +$1.55M |
|
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Harding Loevner's Q4 2015 Portfolio in Review
As of Q4 2015, Harding Loevner held 133 positions worth $12.3B, down 0.44% from $12.4B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Harding Loevner withdrew a net $746M in Q4 2015, closing 22 positions and reducing 50 holdings. Its most notable exit was Alphabet (Google) Class C, an estimated $340M position sold in full.
By sector, the portfolio is most concentrated in Financials at 18% of assets, down from 19% a quarter earlier, followed by Technology and Communication Services.
Against the trend, Harding Loevner opened a new position in Alphabet (Google) Class A worth $353M.
- Harding Loevner's largest Q4 2015 buy was Alphabet (Google) Class A: 9,064,780 shares worth $353M.
- Harding Loevner added most to Itaú Unibanco in Q4 2015, an estimated $185M increase.
- Harding Loevner's biggest Q4 2015 reduction was Imperial Oil, cutting an estimated $88.9M.
- Harding Loevner fully exited Alphabet (Google) Class C in Q4 2015, selling an estimated $340M.
- Harding Loevner's ten largest holdings make up 35% of its $12.3B portfolio in Q4 2015.
- Harding Loevner opened 31 new positions and closed 22 in Q4 2015.
- Harding Loevner's portfolio value fell 0.44% quarter-over-quarter to $12.3B.
Based on Harding Loevner's 13F filing for Q4 2015, filed 26 Jan 2016.