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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
WBC
51
DELISTED
WABCO HOLDINGS INC.
WBC
$111M 0.78%
1,047,916
+815,423
+351% +$85.3M
2016 Q3
1 quarter
MON
52
DELISTED
Monsanto Co
MON
$111M 0.77%
1,053,670
-8,186
-0.8% -$839K
2013 Q2
14 quarters
CBD
53
DELISTED
Companhia Brasileira de Distribuicao
CBD
$102M 0.71%
6,146,190
-3,326,875
-35% -$55.3M
2013 Q4
12 quarters
RHT
54
DELISTED
Red Hat Inc
RHT
$101M 0.7%
1,446,955
-12,502
-0.9% -$965K
2015 Q3
5 quarters
ABT icon
55
Abbott
ABT
$172B
$99.9M 0.7%
2,601,533
-11,132
-0.4% -$441K
2013 Q2
14 quarters
MSFT icon
56
Microsoft
MSFT
$3.97T
$95.4M 0.67%
1,535,633
-9,624
-0.6% -$579K
2013 Q2
14 quarters
UL icon
57
Unilever
UL
$134B
$92.1M 0.64%
2,010,586
-90,543
-4% -$4.22M
2013 Q2
14 quarters
MELI icon
58
Mercado Libre
MELI
$95.8B
$83.9M 0.59%
537,180
+32,276
+6% +$5.33M
2016 Q3
1 quarter
HDB icon
59
HDFC Bank
HDB
$115B
$79.3M 0.55%
+5,224,552
New +$87.4M
2016 Q4
0 quarters
HSBC icon
60
HSBC
HSBC
$318B
$74.9M 0.52%
2,064,297
+2,061,994
+89,535% +$73.1M
2015 Q3
5 quarters
SSL icon
61
Sasol
SSL
$9.69B
$62.9M 0.44%
2,200,884
-59,144
-3% -$1.63M
2013 Q2
14 quarters
SHPG
62
DELISTED
Shire pic
SHPG
$60.4M 0.42%
354,718
+342,715
+2,855% +$60.7M
2013 Q2
14 quarters
FMX icon
63
Fomento Económico Mexicano
FMX
$40.6B
$58M 0.41%
761,606
+45,316
+6% +$3.88M
2013 Q2
14 quarters
WB icon
64
Weibo
WB
$1.61B
$50.4M 0.35%
+1,242,345
New +$59.3M
2016 Q4
0 quarters
VEU icon
65
Vanguard FTSE All-World ex-US ETF
VEU
$68.3B
$37.3M 0.26%
843,841
+837,844
+13,971% +$37.2M
2016 Q3
1 quarter
INDA icon
66
iShares MSCI India ETF
INDA
$5.73B
$19.8M 0.14%
739,605
-1,061,615
-59% -$29.5M
2016 Q2
2 quarters
KOF icon
67
Coca-Cola Femsa
KOF
$23.1B
$15.4M 0.11%
242,040
+930
+0.4% +$65K
2015 Q3
5 quarters
BMA icon
68
Banco Macro
BMA
$4.15B
$8.36M 0.06%
129,972
+10,277
+9% +$740K
2016 Q2
2 quarters
EC icon
69
Ecopetrol
EC
$34.8B
$8.32M 0.06%
919,910
+283,460
+45% +$2.48M
2013 Q2
14 quarters
PSMT icon
70
Pricesmart
PSMT
$5.21B
$5.73M 0.04%
68,598
-14,272
-17% -$1.25M
2014 Q1
11 quarters
LUX
71
DELISTED
Luxottica Group
LUX
$3.5M 0.02%
65,118
-4,738
-7% -$240K
2014 Q3
9 quarters
GGAL icon
72
Galicia Financial Group
GGAL
$5.91B
$3.46M 0.02%
128,580
+9,880
+8% +$284K
2016 Q3
1 quarter
EWJ icon
73
iShares MSCI Japan ETF
EWJ
$23.9B
$259K ﹤0.01%
+5,295
New +$264K
2016 Q4
0 quarters
ALL icon
74
Allstate
ALL
$58B
$227K ﹤0.01%
3,058
– –
2014 Q1
11 quarters
ABBV icon
75
AbbVie
ABBV
$489B
– –
-2,207,008
Closed -$139M –
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.