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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
MBUU icon
126
Malibu Boats
MBUU
$426M
– –
-939
Closed -$45K –
MCD icon
127
McDonald's
MCD
$166B
– –
-85
Closed -$20K –
MELI icon
128
Mercado Libre
MELI
$95.8B
– –
-157,364
Closed -$130M –
MGPI icon
129
MGP Ingredients
MGPI
$295M
– –
-326
Closed -$35K –
MKTX icon
130
MarketAxess Holdings
MKTX
$5.79B
– –
-48
Closed -$11K –
MNST icon
131
Monster Beverage
MNST
$85.5B
– –
-816
Closed -$18K –
MRK icon
132
Merck
MRK
$359B
– –
-734
Closed -$63K –
NBIX icon
133
Neurocrine Biosciences
NBIX
$14.5B
– –
-767
Closed -$81K –
NTES icon
134
NetEase
NTES
$79.6B
– –
-1,521
Closed -$115K –
OLLI icon
135
Ollie's Bargain Outlet
OLLI
$5.07B
– –
-428
Closed -$22K –
PANW icon
136
Palo Alto Networks
PANW
$343B
– –
-312
Closed -$26K –
PG icon
137
Procter & Gamble
PG
$351B
– –
-137
Closed -$17K –
PLNT icon
138
Planet Fitness
PLNT
$3.62B
– –
-119
Closed -$7K –
POOL icon
139
Pool Corp
POOL
$5.8B
– –
-103
Closed -$33K –
REGN icon
140
Regeneron Pharmaceuticals
REGN
$76.9B
– –
-11
Closed -$8K –
REYN icon
141
Reynolds Consumer Products
REYN
$4.64B
– –
-915
Closed -$24K –
RGEN icon
142
Repligen
RGEN
$11B
– –
-135
Closed -$25K –
RGA icon
143
Reinsurance Group of America
RGA
$16.7B
– –
-671
Closed -$84K –
RMD icon
144
ResMed
RMD
$32.4B
– –
-81
Closed -$18K –
ROP icon
145
Roper Technologies
ROP
$36B
– –
-113
Closed -$41K –
RYAAY icon
146
Ryanair
RYAAY
$28.1B
– –
-2,858
Closed -$67K –
SBUX icon
147
Starbucks
SBUX
$103B
– –
-578
Closed -$49K –
SLP
148
DELISTED
Simulations Plus
SLP
– –
-353
Closed -$17K –
SYBT icon
149
Stock Yards Bancorp
SYBT
$2.33B
– –
-482
Closed -$33K –
TER icon
150
Teradyne
TER
$63B
– –
-618
Closed -$46K –
3 4 5
6
7

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VAS
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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.