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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
+5.29%
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
$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

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 Healthcare 15.96%
3 Financials 15.83%
4 Communication Services 11.96%
5 Industrials 7.22%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TSM icon
1
TSMC
TSM
$2.18T
$1.62B 6.2%
13,446,735
-19,101
-0.1% -$2.24M
ALC icon
2
Alcon
ALC
$35B
$956M 3.66%
10,969,684
+9,171,381
+510% +$755M
BHP icon
3
BHP
BHP
$230B
$913M 3.5%
16,956,987
-95,837
-0.6% -$4.79M
GOOGL icon
4
Alphabet (Google) Class A
GOOGL
$4.33T
$803M 3.08%
5,541,860
-81,740
-1% -$11.8M
HDB icon
5
HDFC Bank
HDB
$121B
$790M 3.03%
24,287,248
-251,644
-1% -$8.81M
EPAM icon
6
EPAM Systems
EPAM
$5.03B
$767M 2.94%
1,147,827
-182,920
-14% -$118M
FRC
7
DELISTED
First Republic Bank
FRC
$715M 2.74%
3,461,524
-649,134
-16% -$137M
SAP icon
8
SAP
SAP
$238B
$712M 2.73%
5,083,154
-15,008
-0.3% -$2.1M
SIVB
9
DELISTED
SVB Financial Group
SIVB
$707M 2.71%
1,042,321
-16,890
-2% -$11.9M
IBN icon
10
ICICI Bank
IBN
$108B
$669M 2.56%
33,795,166
-190,321
-0.6% -$3.76M
FMX icon
11
Fomento Económico Mexicano
FMX
$41.7B
$648M 2.48%
8,334,480
-155,129
-2% -$12.2M
AMZN icon
12
Amazon
AMZN
$2.96T
$619M 2.37%
3,712,280
-11,880
-0.3% -$2.03M
CHKP icon
13
Check Point Software Technologies
CHKP
$13.1B
$572M 2.19%
4,909,064
-46,218
-0.9% -$5.36M
MSFT icon
14
Microsoft
MSFT
$3.71T
$559M 2.14%
1,661,342
-31,501
-2% -$10.2M
DE icon
15
Deere & Co
DE
$168B
$556M 2.13%
1,621,094
-30,726
-2% -$10.7M
NBIS
16
Nebius Group N.V.
NBIS
$47.7B
$549M 2.11%
9,075,120
-28,050
-0.3% -$2.07M
ABEV icon
17
Ambev
ABEV
$46.4B
$504M 1.93%
179,857,796
-2,445,915
-1% -$7.01M
META icon
18
Meta Platforms (Facebook)
META
$1.51T
$498M 1.91%
1,481,467
-53,369
-3% -$17.7M
NKE icon
19
Nike
NKE
$61.9B
$469M 1.8%
2,815,596
-57,779
-2% -$9.53M
UNH icon
20
UnitedHealth
UNH
$370B
$446M 1.71%
887,967
+303,705
+52% +$137M
XP icon
21
XP
XP
$8.39B
$443M 1.7%
+15,409,162
New +$502M
TMO icon
22
Thermo Fisher Scientific
TMO
$220B
$436M 1.67%
653,279
-13,378
-2% -$8.35M
ILMN icon
23
Illumina
ILMN
$28.4B
$434M 1.66%
1,171,862
-21,838
-2% -$8.27M
ADBE icon
24
Adobe
ADBE
$105B
$420M 1.61%
741,224
-2,280
-0.3% -$1.43M
CNI icon
25
Canadian National Railway
CNI
$76.6B
$418M 1.6%
3,405,245
-11,430
-0.3% -$1.45M
1
2 3 4 5

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DCP
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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
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MPI
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TIM
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SC
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TCA
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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 Healthcare and Financials.

  • 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.