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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
HDB icon
1
HDFC Bank
HDB
$121B
$910M 5.24%
26,593,510
+729,132
+3% +$23.7M
BHP icon
2
BHP
BHP
$230B
$858M 4.94%
13,828,147
-751,736
-5% -$42.3M
TSM icon
3
TSMC
TSM
$2.18T
$741M 4.27%
9,950,901
-381,424
-4% -$27.6M
FMX icon
4
Fomento Económico Mexicano
FMX
$41.7B
$714M 4.12%
9,144,781
-686,009
-7% -$50.5M
ALC icon
5
Alcon
ALC
$35B
$685M 3.95%
9,991,323
-136,274
-1% -$8.69M
IBN icon
6
ICICI Bank
IBN
$108B
$661M 3.81%
30,204,810
-2,084,879
-6% -$46.4M
SAP icon
7
SAP
SAP
$238B
$623M 3.59%
6,039,310
+789,685
+15% +$79.1M
VRTX icon
8
Vertex Pharmaceuticals
VRTX
$126B
$532M 3.06%
1,840,521
+200,704
+12% +$61.2M
DE icon
9
Deere & Co
DE
$168B
$523M 3.01%
1,219,253
+122,819
+11% +$49.9M
GOOGL icon
10
Alphabet (Google) Class A
GOOGL
$4.33T
$452M 2.61%
5,125,486
+537,758
+12% +$51.1M
FRC
11
DELISTED
First Republic Bank
FRC
$400M 2.31%
3,285,248
+345,334
+12% +$42.1M
MSFT icon
12
Microsoft
MSFT
$3.71T
$383M 2.21%
1,598,153
+164,555
+11% +$39.5M
UNH icon
13
UnitedHealth
UNH
$370B
$381M 2.19%
717,796
+74,859
+12% +$39.7M
CNI icon
14
Canadian National Railway
CNI
$76.6B
$364M 2.1%
3,063,713
-186,335
-6% -$22.3M
ABEV icon
15
Ambev
ABEV
$46.4B
$329M 1.9%
121,085,450
-8,371,323
-6% -$24.4M
SNPS icon
16
Synopsys
SNPS
$79.7B
$301M 1.74%
943,503
+97,940
+12% +$30.7M
AME icon
17
Ametek
AME
$58.2B
$298M 1.71%
2,129,644
+217,187
+11% +$28.8M
TMO icon
18
Thermo Fisher Scientific
TMO
$220B
$292M 1.68%
530,812
+58,654
+12% +$31.1M
SIVB
19
DELISTED
SVB Financial Group
SIVB
$273M 1.57%
1,186,039
+132,439
+13% +$32.9M
SLB icon
20
SLB Ltd
SLB
$75B
$273M 1.57%
5,101,929
+584,851
+13% +$29.1M
ACN icon
21
Accenture
ACN
$108B
$264M 1.52%
989,656
+105,679
+12% +$29.2M
AMZN icon
22
Amazon
AMZN
$2.96T
$258M 1.49%
3,070,591
+309,877
+11% +$30.6M
NKE icon
23
Nike
NKE
$61.9B
$253M 1.46%
2,159,498
-271,525
-11% -$27.3M
ROK icon
24
Rockwell Automation
ROK
$49B
$241M 1.39%
935,957
+98,410
+12% +$24.7M
ASML icon
25
ASML
ASML
$669B
$228M 1.31%
416,748
+41,204
+11% +$21.6M
1
2 3 4 5

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FCM
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CCM
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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 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.