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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
+8.38%
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
$12.3B
AUM Growth
-$54.7M
Cap. Flow
-$746M
Cap. Flow %
-6.04%
Top 10 Hldgs %
34.87%
Holding
133
New
31
Increased
21
Reduced
50
Closed
22
Avg Time Held
5.3 quarters
Top 10 Avg Time Held
4.5 quarters
Top 20 Avg Time Held
4.8 quarters

Top Buys

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$335M
2
ITUB icon
Itaú Unibanco
ITUB
+$185M
3
GRFS
Grifois
GRFS
+$110M
4
CBD
Companhia Brasileira de Distribuicao
CBD
+$52.4M
5
TV icon
Televisa
TV
+$48.4M

Top Sells

Rank Stock Value
1
GOOG icon
Alphabet (Google) Class C
GOOG
+$340M
2
EBAY icon
eBay
EBAY
+$135M
3
IMO icon
Imperial Oil
IMO
+$88.9M
4
NKE icon
Nike
NKE
+$61.9M
5
NVO
Novo Nordisk
NVO
+$59.1M

Sector Composition

Rank Sector Weight
1 Financials 20.45%
2 Technology 16.35%
3 Communication Services 16.32%
4 Consumer Discretionary 10.23%
5 Energy 9.41%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
NBIS
51
Nebius Group N.V.
NBIS
$60.1B
$93.1M 0.75%
5,924,875
-1,628,568
-22% -$24.4M
2014 Q1
7 quarters
UL icon
52
Unilever
UL
$134B
$90.6M 0.73%
1,889,678
-61,646
-3% -$3.01M
2013 Q2
10 quarters
BBD icon
53
Banco Bradesco
BBD
$45.5B
$90.1M 0.73%
39,801,652
+3,747,276
+10% +$9.84M
2013 Q2
10 quarters
JOBS
54
DELISTED
51job Inc
JOBS
$89.9M 0.73%
3,050,972
+95,530
+3% +$2.99M
2013 Q2
10 quarters
CBD
55
DELISTED
Companhia Brasileira de Distribuicao
CBD
$83.9M 0.68%
7,972,935
+4,019,400
+102% +$52.4M
2013 Q4
8 quarters
BSAC icon
56
Banco Santander Chile
BSAC
$15.2B
$80.9M 0.65%
4,584,047
+73,460
+2% +$1.37M
2013 Q2
10 quarters
TRMB icon
57
Trimble
TRMB
$14B
$78.6M 0.64%
3,665,540
-513,147
-12% -$10.7M
2013 Q2
10 quarters
ABEV icon
58
Ambev
ABEV
$49.2B
$73.8M 0.6%
16,547,521
-247,200
-1% -$1.21M
2013 Q4
8 quarters
CIB icon
59
Grupo Cibest SA
CIB
$22.4B
$68.9M 0.56%
2,574,684
+71,150
+3% +$2.24M
2013 Q2
10 quarters
BBVA icon
60
Banco Bilbao Vizcaya Argentaria
BBVA
$144B
$57.1M 0.46%
8,167,968
-788,091
-9% -$6.3M
2013 Q2
10 quarters
AMX icon
61
America Movil
AMX
$63.7B
$53.6M 0.43%
3,812,230
-783,644
-17% -$12.8M
2013 Q2
10 quarters
SSL icon
62
Sasol
SSL
$9.69B
$53M 0.43%
1,969,553
-184,514
-9% -$5.4M
2013 Q2
10 quarters
FMX icon
63
Fomento Económico Mexicano
FMX
$40.6B
$50.1M 0.41%
542,667
+15,600
+3% +$1.5M
2013 Q2
10 quarters
VEU icon
64
Vanguard FTSE All-World ex-US ETF
VEU
$68.3B
$49.4M 0.4%
1,158,060
+987,552
+579% +$44.2M
2015 Q2
2 quarters
KOF icon
65
Coca-Cola Femsa
KOF
$23.1B
$21.7M 0.18%
306,010
+112,669
+58% +$8.36M
2015 Q3
1 quarter
PSMT icon
66
Pricesmart
PSMT
$5.21B
$8.65M 0.07%
104,270
– –
2014 Q1
7 quarters
VSS icon
67
Vanguard FTSE All-World ex-US Small-Cap Index Fund
VSS
$11.7B
$4.75M 0.04%
+51,100
New +$4.82M
2015 Q4
0 quarters
INDA icon
68
iShares MSCI India ETF
INDA
$5.73B
$4.67M 0.04%
169,700
-654,664
-79% -$18.3M
2015 Q1
3 quarters
EC icon
69
Ecopetrol
EC
$34.8B
$3.95M 0.03%
563,734
+410,234
+267% +$3.54M
2013 Q2
10 quarters
ACWX icon
70
iShares MSCI ACWI ex US ETF
ACWX
$17.7B
$3.16M 0.03%
+81,368
New +$3.33M
2015 Q4
0 quarters
ACWI icon
71
iShares MSCI ACWI ETF
ACWI
$33.3B
$2.51M 0.02%
+45,844
New +$2.62M
2015 Q4
0 quarters
SHPG
72
DELISTED
Shire pic
SHPG
$2.45M 0.02%
12,207
-253,305
-95% -$52.6M
2013 Q2
10 quarters
EEM icon
73
iShares MSCI Emerging Markets ETF
EEM
$31B
$2.42M 0.02%
+75,290
New +$2.58M
2015 Q4
0 quarters
CPA icon
74
Copa Holdings
CPA
$5.48B
$1.63M 0.01%
33,695
-36,280
-52% -$1.89M
2013 Q2
10 quarters
STE icon
75
Steris
STE
$20.9B
$1.62M 0.01%
+21,513
New +$1.55M
2015 Q4
0 quarters
1 2
3
4 5

Similar funds

FMI
Factory Mutual Insurance Waltham, Massachusetts $10.6B AUM 34.1% 1-Year Est. Return
VAS
Vestmark Advisory Solutions Wakefield, Massachusetts $10.6B AUM 25.02% 1-Year Est. Return
DPIM
Duff & Phelps Investment Management Chicago, Illinois $10.6B AUM 18.62% 1-Year Est. Return
CA
Clearstead Advisors Cleveland, Ohio $10.6B AUM 24.87% 1-Year Est. Return
SCM
SCS Capital Management Boston, Massachusetts $10.6B AUM 19.73% 1-Year Est. Return
FCM
Frontier Capital Management Boston, Massachusetts $10.7B AUM 67.78% 1-Year Est. Return
URS
Utah Retirement Systems Salt Lake City, Utah $10.5B AUM 42.22% 1-Year Est. Return
AAM
Alphadyne Asset Management New York $10.5B AUM 37.62% 1-Year Est. Return

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 20% of assets, down from 21% 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.