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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
+5.29%
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
$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
Avg Time Held
14.5 quarters
Top 10 Avg Time Held
8.3 quarters
Top 20 Avg Time Held
9.4 quarters

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 Financials 18.57%
3 Healthcare 15.96%
4 Communication Services 11.96%
5 Industrials 7.22%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
SBUX icon
101
Starbucks
SBUX
$103B
$68K ﹤0.01%
578
– –
2020 Q3
5 quarters
NBIX icon
102
Neurocrine Biosciences
NBIX
$14.5B
$66K ﹤0.01%
777
+215
+38% +$19.8K
2020 Q1
7 quarters
MBUU icon
103
Malibu Boats
MBUU
$426M
$65K ﹤0.01%
939
+78
+9% +$5.47K
2021 Q3
1 quarter
ZTS icon
104
Zoetis
ZTS
$30.9B
$64K ﹤0.01%
261
– –
2017 Q2
18 quarters
ALTR
105
DELISTED
Altair Engineering Inc
ALTR
$63K ﹤0.01%
816
+277
+51% +$20.7K
2019 Q3
9 quarters
OLLI icon
106
Ollie's Bargain Outlet
OLLI
$5.07B
$62K ﹤0.01%
1,217
– –
2021 Q1
3 quarters
HEI icon
107
HEICO Corp
HEI
$41.7B
$60K ﹤0.01%
419
– –
2018 Q1
15 quarters
CSCO icon
108
Cisco
CSCO
$467B
$57K ﹤0.01%
907
– –
2017 Q2
18 quarters
MRK icon
109
Merck
MRK
$359B
$56K ﹤0.01%
734
– –
2018 Q4
12 quarters
ABT icon
110
Abbott
ABT
$172B
$55K ﹤0.01%
390
– –
2013 Q2
34 quarters
ENS icon
111
EnerSys
ENS
$6.48B
$51K ﹤0.01%
648
+42
+7% +$3.28K
2018 Q1
15 quarters
EXPO icon
112
Exponent
EXPO
$3.32B
$51K ﹤0.01%
439
+209
+91% +$24.6K
2018 Q4
12 quarters
IDXX icon
113
Idexx Laboratories
IDXX
$40.8B
$46K ﹤0.01%
70
– –
2017 Q2
18 quarters
PLNT icon
114
Planet Fitness
PLNT
$3.62B
$46K ﹤0.01%
509
– –
2020 Q1
7 quarters
ABMD
115
DELISTED
Abiomed Inc
ABMD
$42K ﹤0.01%
118
– –
2020 Q2
6 quarters
AVGO icon
116
Broadcom
AVGO
$1.73T
$41K ﹤0.01%
620
-1,460
-70% -$82.1K
2021 Q2
2 quarters
ROL icon
117
Rollins
ROL
$15.4B
$39K ﹤0.01%
1,132
– –
2017 Q2
18 quarters
CGNX icon
118
Cognex
CGNX
$10.6B
$35K ﹤0.01%
449
– –
2018 Q2
14 quarters
GWRE icon
119
Guidewire Software
GWRE
$13.7B
$35K ﹤0.01%
308
– –
2018 Q2
14 quarters
IPGP icon
120
IPG Photonics
IPGP
$3.33B
$35K ﹤0.01%
202
– –
2014 Q2
30 quarters
NOW icon
121
ServiceNow
NOW
$146B
$35K ﹤0.01%
270
– –
2019 Q3
9 quarters
MTD icon
122
Mettler-Toledo International
MTD
$31.1B
$32K ﹤0.01%
19
– –
2017 Q2
18 quarters
ANSS
123
DELISTED
Ansys
ANSS
$31K ﹤0.01%
78
– –
2018 Q4
12 quarters
LKFN icon
124
Lakeland Financial Corp
LKFN
$1.41B
$31K ﹤0.01%
+384
New +$28.6K
2021 Q4
0 quarters
SYBT icon
125
Stock Yards Bancorp
SYBT
$2.33B
$31K ﹤0.01%
482
-305
-39% -$19.2K
2021 Q1
3 quarters
3 4
5
6 7

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DPIM
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CA
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SCM
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FCM
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AAM
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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 Financials and Healthcare.

  • 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.