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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
+8.38%
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
$12.3B
AUM Growth
-$54.7M
Cap. Flow
-$746M
Cap. Flow %
-6.04%
Top 10 Hldgs %
34.87%
Holding
133
New
31
Increased
21
Reduced
50
Closed
22

Top Buys

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$335M
2
ITUB icon
Itaú Unibanco
ITUB
+$185M
3
GRFS
Grifois
GRFS
+$110M
4
CBD
Companhia Brasileira de Distribuicao
CBD
+$52.4M
5
TV icon
Televisa
TV
+$48.4M

Top Sells

Rank Stock Value
1
GOOG icon
Alphabet (Google) Class C
GOOG
+$340M
2
EBAY icon
eBay
EBAY
+$135M
3
IMO icon
Imperial Oil
IMO
+$88.9M
4
NKE icon
Nike
NKE
+$61.9M
5
NVO
Novo Nordisk
NVO
+$59.1M

Sector Composition

Rank Sector Weight
1 Financials 18.42%
2 Technology 16.35%
3 Communication Services 14.78%
4 Consumer Discretionary 10.22%
5 Energy 8.62%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VFC icon
126
VF Corp
VFC
$5.89B
– –
-5,098
Closed -$327K
VOD icon
127
Vodafone
VOD
$37.4B
– –
-39
Closed -$1K
WDAY icon
128
Workday
WDAY
$44.4B
$0 ﹤0.01%
+1
New +$80
RDS.A
129
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
– –
-20
Closed -$1K
AMTD
130
DELISTED
TD Ameritrade Holding Corp
AMTD
$0 ﹤0.01%
+6
New +$208
ESRX
131
DELISTED
Express Scripts Holding Company
ESRX
$0 ﹤0.01%
+2
New +$171
PX
132
DELISTED
Praxair Inc
PX
$0 ﹤0.01%
+1
New +$109
PCP
133
DELISTED
PRECISION CASTPARTS CORP
PCP
– –
-1,480
Closed -$340K
2 3 4 5
6

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Harding Loevner's Q4 2015 Portfolio in Review

As of Q4 2015, Harding Loevner held 133 positions worth $12.3B, down 0.44% from $12.4B the previous quarter. Its ten largest holdings account for 35% of the portfolio.

Harding Loevner withdrew a net $746M in Q4 2015, closing 22 positions and reducing 50 holdings. Its most notable exit was Alphabet (Google) Class C, an estimated $340M position sold in full.

By sector, the portfolio is most concentrated in Financials at 18% of assets, down from 19% a quarter earlier, followed by Technology and Communication Services.

Against the trend, Harding Loevner opened a new position in Alphabet (Google) Class A worth $353M.

  • Harding Loevner's largest Q4 2015 buy was Alphabet (Google) Class A: 9,064,780 shares worth $353M.
  • Harding Loevner added most to Itaú Unibanco in Q4 2015, an estimated $185M increase.
  • Harding Loevner's biggest Q4 2015 reduction was Imperial Oil, cutting an estimated $88.9M.
  • Harding Loevner fully exited Alphabet (Google) Class C in Q4 2015, selling an estimated $340M.
  • Harding Loevner's ten largest holdings make up 35% of its $12.3B portfolio in Q4 2015.
  • Harding Loevner opened 31 new positions and closed 22 in Q4 2015.
  • Harding Loevner's portfolio value fell 0.44% quarter-over-quarter to $12.3B.

Based on Harding Loevner's 13F filing for Q4 2015, filed 26 Jan 2016.