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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
+10.55%
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
$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

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 17.55%
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
DIS icon
101
Walt Disney
DIS
$181B
– –
-222
Closed -$21K
EA
102
DELISTED
Electronic Arts
EA
– –
-143
Closed -$17K
EBAY icon
103
eBay
EBAY
$49.8B
– –
-303
Closed -$12K
EC icon
104
Ecopetrol
EC
$34.5B
– –
-3,995
Closed -$36K
ECL icon
105
Ecolab
ECL
$79.9B
– –
-84
Closed -$12K
EFX icon
106
Equifax
EFX
$21.4B
– –
-78
Closed -$13K
EL icon
107
Estee Lauder
EL
$32B
– –
-58
Closed -$13K
ELAN icon
108
Elanco Animal Health
ELAN
$11.1B
– –
-3,234
Closed -$40K
EMR icon
109
Emerson Electric
EMR
$88.3B
– –
-188
Closed -$14K
ENS icon
110
EnerSys
ENS
$6.99B
– –
-635
Closed -$37K
EXPO icon
111
Exponent
EXPO
$3.24B
– –
-284
Closed -$25K
FIVE icon
112
Five Below
FIVE
$13.5B
– –
-92
Closed -$13K
GWRE icon
113
Guidewire Software
GWRE
$14.2B
– –
-308
Closed -$19K
HEI icon
114
HEICO Corp
HEI
$51.4B
– –
-419
Closed -$60K
HP icon
115
Helmerich & Payne
HP
$3.71B
– –
-445
Closed -$16K
IDXX icon
116
Idexx Laboratories
IDXX
$46.2B
– –
-70
Closed -$23K
IOO icon
117
iShares Global 100 ETF
IOO
$9.25B
– –
-10
Closed -$1K
IPGP icon
118
IPG Photonics
IPGP
$3.84B
– –
-179
Closed -$15K
IQV icon
119
IQVIA
IQV
$39.3B
– –
-684,784
Closed -$124M
IT icon
120
Gartner
IT
$11.7B
– –
-311
Closed -$86K
JNJ icon
121
Johnson & Johnson
JNJ
$625B
– –
-70
Closed -$11K
JPM icon
122
JPMorgan Chase
JPM
$950B
– –
-589
Closed -$62K
LKFN icon
123
Lakeland Financial Corp
LKFN
$1.53B
– –
-370
Closed -$27K
LMAT icon
124
LeMaitre Vascular
LMAT
$1.86B
– –
-192
Closed -$10K
MA icon
125
Mastercard
MA
$493B
– –
-59
Closed -$17K
3 4
5
6 7

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FCM
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CCM
Cullen Capital Management New York $9.75B AUM 21.81% 1-Year Est. Return
URS
Utah Retirement Systems Salt Lake City, Utah $9.78B AUM 28.72% 1-Year Est. Return
MPI
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TIM
Thornburg Investment Management Santa Fe, New Mexico $9.63B AUM 35.65% 1-Year Est. Return
SC
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TCA
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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.