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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
+5.29%
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
$26.1B
AUM Growth
+$1.02B
Cap. Flow
+$27.5M
Cap. Flow %
0.11%
Top 10 Hldgs %
33.16%
Holding
165
New
18
Increased
30
Reduced
65
Closed
5

Top Buys

Rank Stock Value
1
ALC icon
Alcon
ALC
+$755M
2
XP icon
XP
XP
+$502M
3
ACN icon
Accenture
ACN
+$314M
4
MELI icon
Mercado Libre
MELI
+$254M
5
UNH icon
UnitedHealth
UNH
+$137M

Top Sells

Rank Stock Value
1
ITUB icon
Itaú Unibanco
ITUB
+$490M
2
BABA icon
Alibaba
BABA
+$364M
3
EBAY icon
eBay
EBAY
+$363M
4
WDAY icon
Workday
WDAY
+$229M
5
ROP icon
Roper Technologies
ROP
+$187M

Sector Composition

Rank Sector Weight
1 Technology 25.94%
2 Healthcare 15.96%
3 Financials 15.83%
4 Communication Services 11.96%
5 Industrials 7.22%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ASR icon
51
Grupo Aeroportuario del Sureste
ASR
$8.3B
$188M 0.72%
914,007
-3,357
-0.4% -$662K
RIO icon
52
Rio Tinto
RIO
$164B
$184M 0.71%
2,751,928
+13,028
+0.5% +$843K
DIS icon
53
Walt Disney
DIS
$181B
$183M 0.7%
1,180,573
-24,188
-2% -$3.91M
MA icon
54
Mastercard
MA
$493B
$177M 0.68%
493,599
-18,587
-4% -$6.43M
VEU icon
55
Vanguard FTSE All-World ex-US ETF
VEU
$68.5B
$155M 0.59%
2,522,530
+1,441,824
+133% +$89.2M
ZTO icon
56
ZTO Express
ZTO
$17.9B
$154M 0.59%
5,451,705
+4,333,194
+387% +$129M
TLK icon
57
Telkom Indonesia
TLK
$14.9B
$150M 0.58%
5,189,377
+67,537
+1% +$1.83M
ITUB icon
58
Itaú Unibanco
ITUB
$87.5B
$140M 0.54%
42,379,064
-136,006,265
-76% -$490M
BABA icon
59
Alibaba
BABA
$308B
$140M 0.53%
1,174,372
-2,500,685
-68% -$364M
PINS icon
60
Pinterest
PINS
$13.4B
$139M 0.53%
3,819,073
-91,384
-2% -$4.06M
RDS.B
61
DELISTED
Royal Dutch Shell PLC ADS Class B
RDS.B
$137M 0.52%
3,155,226
-6,344
-0.2% -$286K
UL icon
62
Unilever
UL
$136B
$137M 0.52%
2,256,421
-8,583
-0.4% -$510K
BBVA icon
63
Banco Bilbao Vizcaya Argentaria
BBVA
$156B
$136M 0.52%
23,151,092
-22,034
-0.1% -$138K
DEO icon
64
Diageo
DEO
$53.6B
$135M 0.52%
614,145
+10,136
+2% +$2.08M
LIN icon
65
Linde
LIN
$226B
$130M 0.5%
375,035
+5,896
+2% +$1.91M
CIB icon
66
Grupo Cibest SA
CIB
$21.1B
$107M 0.41%
3,380,948
-17,826
-0.5% -$600K
TS icon
67
Tenaris
TS
$26.8B
$106M 0.41%
5,070,864
+1,135,286
+29% +$24.8M
JOBS
68
DELISTED
51job Inc
JOBS
$75.9M 0.29%
1,551,123
-2,967
-0.2% -$169K
BBD icon
69
Banco Bradesco
BBD
$36.7B
$50.6M 0.19%
16,290,251
-32,730,998
-67% -$108M
BSAC icon
70
Banco Santander Chile
BSAC
$16.6B
$33.8M 0.13%
2,072,466
-8,120
-0.4% -$146K
INDA icon
71
iShares MSCI India ETF
INDA
$6.63B
$24.4M 0.09%
532,518
-26,370
-5% -$1.27M
ACWI icon
72
iShares MSCI ACWI ETF
ACWI
$33.5B
$18M 0.07%
170,621
+116,581
+216% +$12.2M
CBD
73
DELISTED
Companhia Brasileira de Distribuicao
CBD
$14.1M 0.05%
3,526,287
-12,853
-0.4% -$55.9K
VEA icon
74
Vanguard FTSE Developed Markets ETF
VEA
$236B
$9M 0.03%
176,217
+170,745
+3,120% +$8.77M
NTES icon
75
NetEase
NTES
$84.7B
$8.85M 0.03%
86,970
+5,189
+6% +$527K
1 2
3
4 5

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CCM
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Harding Loevner's Q4 2021 Portfolio in Review

As of Q4 2021, Harding Loevner held 165 positions worth $26.1B, up 4.1% from $25.1B the previous quarter. Its ten largest holdings account for 33% of the portfolio.

Harding Loevner's Q4 2021 filing shows 18 new, 30 increased, 65 reduced and 5 closed positions. Its largest new stake was XP: 15,409,162 shares worth $443M. The largest sale was Itaú Unibanco, an estimated $490M.

By sector, the portfolio is most concentrated in Technology at 26% of assets, up from 25% a quarter earlier, followed by Healthcare and Financials.

  • Harding Loevner's largest Q4 2021 buy was XP: 15,409,162 shares worth $443M.
  • Harding Loevner added most to Alcon in Q4 2021, an estimated $755M increase.
  • Harding Loevner's biggest Q4 2021 reduction was Itaú Unibanco, cutting an estimated $490M.
  • Harding Loevner fully exited Honeywell in Q4 2021, selling an estimated $27K.
  • Harding Loevner's ten largest holdings make up 33% of its $26.1B portfolio in Q4 2021.
  • Harding Loevner opened 18 new positions and closed 5 in Q4 2021.
  • Harding Loevner's portfolio value rose 4.1% quarter-over-quarter to $26.1B.

Based on Harding Loevner's 13F filing for Q4 2021, filed 14 Feb 2022.