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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
+10.55%
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
$17.4B
AUM Growth
+$2.1B
Cap. Flow
+$855M
Cap. Flow %
4.93%
Top 10 Hldgs %
38.6%
Holding
162
New
–
Increased
49
Reduced
32
Closed
80
Avg Time Held
18.3 quarters
Top 10 Avg Time Held
10.4 quarters
Top 20 Avg Time Held
10.5 quarters

Top Buys

Rank Stock Value
1
ABCM
Abcam PLC
ABCM
+$210M
2
NOW icon
ServiceNow
NOW
+$147M
3
COST icon
Costco
COST
+$137M
4
SAP icon
SAP
SAP
+$79.1M
5
VRTX icon
Vertex Pharmaceuticals
VRTX
+$61.2M

Top Sells

Rank Stock Value
1
MELI icon
Mercado Libre
MELI
+$130M
2
IQV icon
IQVIA
IQV
+$124M
3
FMX icon
Fomento Económico Mexicano
FMX
+$50.5M
4
IBN icon
ICICI Bank
IBN
+$46.4M
5
ASR icon
Grupo Aeroportuario del Sureste
ASR
+$43.6M

Sector Composition

Rank Sector Weight
1 Technology 22.04%
2 Financials 19.85%
3 Healthcare 17.26%
4 Industrials 9.81%
5 Communication Services 6.96%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
BBVA icon
51
Banco Bilbao Vizcaya Argentaria
BBVA
$144B
$126M 0.73%
20,922,666
-1,558,972
-7% -$8.42M
2013 Q2
38 quarters
WDS icon
52
Woodside Energy
WDS
$42.9B
$122M 0.71%
5,055,919
-302,638
-6% -$7.18M
2022 Q2
2 quarters
ALGN icon
53
Align Technology
ALGN
$10.1B
$122M 0.71%
580,090
+60,597
+12% +$12.1M
2020 Q1
11 quarters
TTD icon
54
Trade Desk
TTD
$5.71B
$121M 0.7%
2,701,664
+286,956
+12% +$14.5M
2020 Q1
11 quarters
NFLX icon
55
Netflix
NFLX
$293B
$118M 0.68%
3,995,980
+398,830
+11% +$11.2M
2021 Q3
5 quarters
ITUB icon
56
Itaú Unibanco
ITUB
$112B
$114M 0.66%
27,351,625
-2,694,250
-9% -$12.2M
2013 Q2
38 quarters
EPAM icon
57
EPAM Systems
EPAM
$5.84B
$113M 0.65%
343,816
-75,725
-18% -$25.7M
2017 Q2
22 quarters
TLK icon
58
Telkom Indonesia
TLK
$12.6B
$112M 0.65%
4,712,234
-367,812
-7% -$9.56M
2021 Q1
7 quarters
LIN icon
59
Linde
LIN
$223B
$109M 0.63%
334,056
-23,166
-6% -$7.26M
2018 Q4
16 quarters
VEU icon
60
Vanguard FTSE All-World ex-US ETF
VEU
$68.3B
$107M 0.62%
2,139,289
+554,532
+35% +$26.9M
2017 Q3
21 quarters
NVDA icon
61
NVIDIA
NVDA
$5.54T
$104M 0.6%
7,129,180
+740,040
+12% +$10.9M
2017 Q4
20 quarters
TS icon
62
Tenaris
TS
$28.9B
$102M 0.59%
2,902,958
-651,168
-18% -$20.8M
2013 Q2
38 quarters
ZTO icon
63
ZTO Express
ZTO
$15.1B
$83.8M 0.48%
3,120,044
-519,296
-14% -$11.9M
2019 Q4
12 quarters
ASR icon
64
Grupo Aeroportuario del Sureste
ASR
$6.95B
$44.4M 0.26%
190,475
-187,402
-50% -$43.6M
2013 Q2
38 quarters
CIB icon
65
Grupo Cibest SA
CIB
$22.4B
$43.4M 0.25%
1,520,527
-317,966
-17% -$8.22M
2013 Q2
38 quarters
BBD icon
66
Banco Bradesco
BBD
$45.5B
$28.6M 0.16%
9,929,043
-1,692,851
-15% -$5.48M
2013 Q2
38 quarters
ACWX icon
67
iShares MSCI ACWI ex US ETF
ACWX
$17.5B
$27.1M 0.16%
595,745
+593,595
+27,609% +$26M
2021 Q4
4 quarters
INDA icon
68
iShares MSCI India ETF
INDA
$5.73B
$25.4M 0.15%
608,650
-61,684
-9% -$2.61M
2019 Q2
14 quarters
BABA icon
69
Alibaba
BABA
$277B
$22M 0.13%
249,991
-41,993
-14% -$3.31M
2017 Q3
21 quarters
ACWI icon
70
iShares MSCI ACWI ETF
ACWI
$33.3B
$8.63M 0.05%
101,703
+26,503
+35% +$2.23M
2019 Q3
13 quarters
BSAC icon
71
Banco Santander Chile
BSAC
$15.2B
$7.08M 0.04%
446,794
-692
-0.2% -$10.3K
2022 Q2
2 quarters
NBIS
72
Nebius Group N.V.
NBIS
$60.1B
$6.28M 0.04%
7,901,074
-58,800
-0.7% -$46.7K
2014 Q1
35 quarters
BAP icon
73
Credicorp
BAP
$30.3B
$6.09M 0.04%
44,922
-4,634
-9% -$657K
2021 Q4
4 quarters
GMAB icon
74
Genmab
GMAB
$22.8B
$5.2M 0.03%
122,912
-6,308
-5% -$260K
2020 Q4
8 quarters
EFG icon
75
iShares MSCI EAFE Growth ETF
EFG
$15.1B
$3.07M 0.02%
36,646
+16,886
+85% +$1.37M
2022 Q3
1 quarter
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 2022 Portfolio in Review

As of Q4 2022, Harding Loevner held 162 positions worth $17.4B, up 14% from $15.3B the previous quarter. Its ten largest holdings account for 39% of the portfolio.

Harding Loevner deployed $855M of net new capital in Q4 2022, adding to 49 existing holdings.

By sector, the portfolio is most concentrated in Technology at 22% of assets, up from 20% a quarter earlier, followed by Financials and Healthcare.

On the sell side, the largest reduction was Fomento Económico Mexicano, an estimated $50.5M trimmed.

  • Harding Loevner added most to Abcam PLC in Q4 2022, an estimated $210M increase.
  • Harding Loevner's biggest Q4 2022 reduction was Fomento Económico Mexicano, cutting an estimated $50.5M.
  • Harding Loevner fully exited Mercado Libre in Q4 2022, selling an estimated $130M.
  • Harding Loevner's ten largest holdings make up 39% of its $17.4B portfolio in Q4 2022.
  • Harding Loevner opened 0 new positions and closed 80 in Q4 2022.
  • Harding Loevner's portfolio value rose 14% quarter-over-quarter to $17.4B.

Based on Harding Loevner's 13F filing for Q4 2022, filed 14 Feb 2023.