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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
ST icon
76
Sensata Technologies
ST
$6.15B
$2.83M 0.02%
70,189
-2,788
-4% -$116K
2018 Q1
19 quarters
VEA icon
77
Vanguard FTSE Developed Markets ETF
VEA
$230B
$2.82M 0.02%
67,271
+5,586
+9% +$226K
2019 Q2
14 quarters
EFA icon
78
iShares MSCI EAFE ETF
EFA
$76.4B
$2.79M 0.02%
42,567
+35,556
+507% +$2.23M
2021 Q4
4 quarters
CLB icon
79
Core Laboratories
CLB
$463M
$2.42M 0.01%
119,587
-3,635
-3% -$70.5K
2018 Q2
18 quarters
CHKP icon
80
Check Point Software Technologies
CHKP
$14B
$800K ﹤0.01%
6,338
-1,515
-19% -$189K
2016 Q3
25 quarters
VT icon
81
Vanguard Total World Stock ETF
VT
$81.6B
$331K ﹤0.01%
3,839
+2,649
+223% +$226K
2021 Q4
4 quarters
SAN icon
82
Banco Santander
SAN
$195B
$145K ﹤0.01%
49,212
– –
2019 Q3
13 quarters
AAON icon
83
Aaon
AAON
$7.1B
– –
-282
Closed -$10K –
ABBV icon
84
AbbVie
ABBV
$489B
– –
-637
Closed -$85K –
ABT icon
85
Abbott
ABT
$172B
– –
-390
Closed -$38K –
ADP icon
86
Automatic Data Processing
ADP
$107B
– –
-92
Closed -$21K –
ANSS
87
DELISTED
Ansys
ANSS
– –
-78
Closed -$17K –
APD icon
88
Air Products & Chemicals
APD
$62.6B
– –
-66
Closed -$15K –
APH icon
89
Amphenol
APH
$215B
– –
-1,152
Closed -$19K –
APPF icon
90
AppFolio
APPF
$7.16B
– –
-138
Closed -$14K –
ATKR icon
91
Atkore
ATKR
$3.2B
– –
-198
Closed -$15K –
BIDU icon
92
Baidu
BIDU
$29B
– –
-44
Closed -$5K –
BKNG icon
93
Booking.com
BKNG
$120B
– –
-200
Closed -$13K –
BMY icon
94
Bristol-Myers Squibb
BMY
$121B
– –
-1,086
Closed -$77K –
BNTX icon
95
BioNTech
BNTX
$24.4B
– –
-1,202
Closed -$162K –
BWA icon
96
BorgWarner
BWA
$12.5B
– –
-2,890
Closed -$80K –
CABO icon
97
Cable One
CABO
$63.2M
– –
-10
Closed -$9K –
CGNX icon
98
Cognex
CGNX
$10.6B
– –
-449
Closed -$19K –
CSCO icon
99
Cisco
CSCO
$467B
– –
-907
Closed -$36K –
DEO icon
100
Diageo
DEO
$48.2B
– –
-1,646
Closed -$280K –
2 3
4
5 6

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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 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.