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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
+1.69%
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
$13.1B
AUM Growth
+$199M
Cap. Flow
+$122M
Cap. Flow %
0.93%
Top 10 Hldgs %
34.76%
Holding
90
New
9
Increased
41
Reduced
33
Closed
4

Top Buys

Rank Stock Value
1
DVA icon
DaVita
DVA
+$139M
2
NBIS
Nebius Group N.V.
NBIS
+$137M
3
IMO icon
Imperial Oil
IMO
+$106M
4
ARMH
ARM HOLDINGS PLC ADS
ARMH
+$93.2M
5
BUD icon
AB InBev
BUD
+$84.8M

Top Sells

Rank Stock Value
1
AMZN icon
Amazon
AMZN
+$245M
2
BIDU icon
Baidu
BIDU
+$158M
3
PBR icon
Petrobras
PBR
+$74.4M
4
CPA icon
Copa Holdings
CPA
+$31.3M
5
WFC icon
Wells Fargo
WFC
+$29.3M

Sector Composition

Rank Sector Weight
1 Financials 22.94%
2 Technology 15.4%
3 Consumer Staples 10.86%
4 Energy 10.63%
5 Consumer Discretionary 9.31%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BWA icon
26
BorgWarner
BWA
$13.8B
$195M 1.49%
3,606,004
-21,952
-0.6% -$1.12M
TRMB icon
27
Trimble
TRMB
$13.9B
$186M 1.42%
4,791,226
+14,423
+0.3% +$519K
FRC
28
DELISTED
First Republic Bank
FRC
$185M 1.41%
3,425,483
-29,173
-0.8% -$1.5M
FFIV icon
29
F5
FFIV
$22.1B
$176M 1.34%
1,646,071
+4,764
+0.3% +$504K
AXP icon
30
American Express
AXP
$220B
$171M 1.3%
1,893,918
-411
-0% -$36.7K
MMM icon
31
3M
MMM
$86.9B
$170M 1.29%
1,496,471
-6,049
-0.4% -$672K
XOM icon
32
ExxonMobil
XOM
$656B
$169M 1.29%
1,734,187
-20,743
-1% -$1.98M
LAZ icon
33
Lazard
LAZ
$4.39B
$169M 1.29%
3,592,932
-33,050
-0.9% -$1.49M
PX
34
DELISTED
Praxair Inc
PX
$169M 1.29%
1,287,956
-7,191
-0.6% -$932K
BIDU icon
35
Baidu
BIDU
$33.7B
$167M 1.27%
1,095,726
-943,537
-46% -$158M
CTXS
36
DELISTED
Citrix Systems Inc
CTXS
$163M 1.24%
3,570,453
+10,992
+0.3% +$518K
CTSH icon
37
Cognizant
CTSH
$28.1B
$158M 1.2%
3,114,524
+17,340
+0.6% +$867K
WPP icon
38
WPP
WPP
$5.46B
$153M 1.17%
1,486,358
+43,093
+3% +$4.62M
HDB icon
39
HDFC Bank
HDB
$119B
$151M 1.15%
14,679,772
+249,040
+2% +$2.17M
QGENF
40
DELISTED
QIAGEN NV
QGENF
$147M 1.12%
6,962,682
-35,169
-0.5% -$742K
INFA
41
DELISTED
INFORMATICA CORP
INFA
$145M 1.1%
3,833,347
+12,515
+0.3% +$505K
MA icon
42
Mastercard
MA
$507B
$143M 1.09%
1,915,633
+11,603
+0.6% +$907K
AMX icon
43
America Movil
AMX
$68.9B
$138M 1.05%
6,944,518
-249,934
-3% -$5.18M
ABT icon
44
Abbott
ABT
$187B
$137M 1.04%
3,546,027
-34,861
-1% -$1.34M
PG icon
45
Procter & Gamble
PG
$340B
$125M 0.95%
1,552,212
-7,772
-0.5% -$612K
NBIS
46
Nebius Group N.V.
NBIS
$61.5B
$112M 0.85%
+3,710,655
New +$137M
RL icon
47
Ralph Lauren
RL
$20.9B
$112M 0.85%
694,053
-3,899
-0.6% -$628K
KOF icon
48
Coca-Cola Femsa
KOF
$23.5B
$103M 0.78%
976,070
-8,038
-0.8% -$840K
NVO
49
Novo Nordisk
NVO
$206B
$91.7M 0.7%
4,018,740
+1,057,470
+36% +$22.5M
FMS icon
50
Fresenius Medical Care
FMS
$12.1B
$91.3M 0.7%
2,620,569
+93,557
+4% +$3.28M
1
2
3 4

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FMI
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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
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Harding Loevner's Q1 2014 Portfolio in Review

As of Q1 2014, Harding Loevner held 90 positions worth $13.1B, up 1.5% from $12.9B the previous quarter. Its ten largest holdings account for 35% of the portfolio.

Harding Loevner's Q1 2014 filing shows 9 new, 41 increased, 33 reduced and 4 closed positions. Its largest new stake was Nebius Group N.V.: 3,710,655 shares worth $112M. The largest sale was Amazon, an estimated $245M.

By sector, the portfolio is most concentrated in Financials at 23% of assets, up from 22% a quarter earlier, followed by Technology and Consumer Staples.

  • Harding Loevner's largest Q1 2014 buy was Nebius Group N.V.: 3,710,655 shares worth $112M.
  • Harding Loevner added most to DaVita in Q1 2014, an estimated $139M increase.
  • Harding Loevner's biggest Q1 2014 reduction was Amazon, cutting an estimated $245M.
  • Harding Loevner fully exited Petrobras Class A in Q1 2014, selling an estimated $11.8M.
  • Harding Loevner's ten largest holdings make up 35% of its $13.1B portfolio in Q1 2014.
  • Harding Loevner opened 9 new positions and closed 4 in Q1 2014.
  • Harding Loevner's portfolio value rose 1.5% quarter-over-quarter to $13.1B.

Based on Harding Loevner's 13F filing for Q1 2014, filed 25 Apr 2014.