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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
+7.12%
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
$13.9B
AUM Growth
+$1.09B
Cap. Flow
+$279M
Cap. Flow %
2.01%
Top 10 Hldgs %
34.99%
Holding
97
New
7
Increased
39
Reduced
31
Closed
9
Avg Time Held
8.7 quarters
Top 10 Avg Time Held
5.4 quarters
Top 20 Avg Time Held
6.6 quarters

Top Buys

Rank Stock Value
1
CHKP icon
Check Point Software Technologies
CHKP
+$189M
2
GRFS icon
Grifois
GRFS
+$105M
3
MELI icon
Mercado Libre
MELI
+$83.7M
4
JD icon
JD.com
JD
+$69.1M
5
REGN icon
Regeneron Pharmaceuticals
REGN
+$61.1M

Top Sells

Rank Stock Value
1
ARMH icon
ARM HOLDINGS PLC ADS
ARMH
+$268M
2
BIDU icon
Baidu
BIDU
+$157M
3
AMX icon
America Movil
AMX
+$75.1M
4
MMM icon
3M
MMM
+$52.6M
5
IBN icon
ICICI Bank
IBN
+$34.8M

Sector Composition

Rank Sector Weight
1 Financials 17.87%
2 Communication Services 16.55%
3 Technology 15.8%
4 Energy 12.9%
5 Consumer Discretionary 10.88%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
CRM icon
51
Salesforce
CRM
$189B
$116M 0.84%
1,628,435
-5,444
-0.3% -$425K
2015 Q1
6 quarters
MMM icon
52
3M
MMM
$82.5B
$116M 0.84%
785,303
-352,254
-31% -$52.6M
2013 Q2
13 quarters
UL icon
53
Unilever
UL
$134B
$112M 0.81%
2,101,129
+93,035
+5% +$4.91M
2013 Q2
13 quarters
ABT icon
54
Abbott
ABT
$172B
$110M 0.8%
2,612,665
+940
+0% +$40.3K
2013 Q2
13 quarters
MON
55
DELISTED
Monsanto Co
MON
$109M 0.78%
1,061,856
-2,693
-0.3% -$283K
2013 Q2
13 quarters
COR icon
56
Cencora
COR
$61.8B
$99.6M 0.72%
1,232,972
-11,611
-0.9% -$995K
2016 Q2
1 quarter
MELI icon
57
Mercado Libre
MELI
$95.8B
$93.4M 0.67%
+504,904
New +$83.7M
2016 Q3
0 quarters
MSFT icon
58
Microsoft
MSFT
$3.97T
$89M 0.64%
1,545,257
-2,178
-0.1% -$123K
2013 Q2
13 quarters
FMX icon
59
Fomento Económico Mexicano
FMX
$40.6B
$65.9M 0.48%
716,290
+48,023
+7% +$4.43M
2013 Q2
13 quarters
SSL icon
60
Sasol
SSL
$9.69B
$61.7M 0.45%
2,260,028
+67,275
+3% +$1.81M
2013 Q2
13 quarters
BBVA icon
61
Banco Bilbao Vizcaya Argentaria
BBVA
$144B
$54.9M 0.4%
9,376,453
+464,651
+5% +$2.68M
2013 Q2
13 quarters
INDA icon
62
iShares MSCI India ETF
INDA
$5.73B
$53M 0.38%
1,801,220
+1,420,220
+373% +$41.6M
2016 Q2
1 quarter
WBC
63
DELISTED
WABCO HOLDINGS INC.
WBC
$26.4M 0.19%
+232,493
New +$23.7M
2016 Q3
0 quarters
KOF icon
64
Coca-Cola Femsa
KOF
$23.1B
$18.1M 0.13%
241,110
– –
2015 Q3
4 quarters
IBN icon
65
ICICI Bank
IBN
$100B
$10.4M 0.08%
1,537,421
-4,998,339
-76% -$34.8M
2013 Q2
13 quarters
BMA icon
66
Banco Macro
BMA
$4.15B
$9.37M 0.07%
119,695
+14,655
+14% +$1.11M
2016 Q2
1 quarter
PSMT icon
67
Pricesmart
PSMT
$5.21B
$6.94M 0.05%
82,870
-2,300
-3% -$189K
2014 Q1
10 quarters
EC icon
68
Ecopetrol
EC
$34.8B
$5.58M 0.04%
636,450
+16,300
+3% +$144K
2013 Q2
13 quarters
GGAL icon
69
Galicia Financial Group
GGAL
$5.91B
$3.69M 0.03%
+118,700
New +$3.57M
2016 Q3
0 quarters
LUX icon
70
DELISTED
Luxottica Group
LUX
$3.34M 0.02%
69,856
+19,110
+38% +$927K
2014 Q3
8 quarters
SHPG
71
DELISTED
Shire pic
SHPG
$2.33M 0.02%
12,003
+95
+0.8% +$18.5K
2013 Q2
13 quarters
VEU icon
72
Vanguard FTSE All-World ex-US ETF
VEU
$68.3B
$272K ﹤0.01%
+5,997
New +$268K
2016 Q3
0 quarters
AMX icon
73
America Movil
AMX
$63.7B
$249K ﹤0.01%
21,800
-6,293,118
-100% -$75.1M
2013 Q2
13 quarters
ALL icon
74
Allstate
ALL
$58B
$212K ﹤0.01%
3,058
– –
2014 Q1
10 quarters
ELV icon
75
Elevance Health
ELV
$89.5B
$100K ﹤0.01%
800
– –
2015 Q2
5 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 Q3 2016 Portfolio in Review

As of Q3 2016, Harding Loevner held 97 positions worth $13.9B, up 8.5% from $12.8B the previous quarter. Its ten largest holdings account for 35% of the portfolio.

Harding Loevner's Q3 2016 filing shows 7 new, 39 increased, 31 reduced and 9 closed positions. Its largest new stake was Check Point Software Technologies: 2,431,568 shares worth $189M. The largest sale was ARM HOLDINGS PLC ADS, an estimated $268M.

By sector, the portfolio is most concentrated in Financials at 18% of assets, up from 17% a quarter earlier, followed by Communication Services and Technology.

  • Harding Loevner's largest Q3 2016 buy was Check Point Software Technologies: 2,431,568 shares worth $189M.
  • Harding Loevner added most to Grifois in Q3 2016, an estimated $105M increase.
  • Harding Loevner's biggest Q3 2016 reduction was Baidu, cutting an estimated $157M.
  • Harding Loevner fully exited ARM HOLDINGS PLC ADS in Q3 2016, selling an estimated $268M.
  • Harding Loevner's ten largest holdings make up 35% of its $13.9B portfolio in Q3 2016.
  • Harding Loevner opened 7 new positions and closed 9 in Q3 2016.
  • Harding Loevner's portfolio value rose 8.5% quarter-over-quarter to $13.9B.

Based on Harding Loevner's 13F filing for Q3 2016, filed 11 Oct 2016.