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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
+5.76%
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
$13.4B
AUM Growth
+$286M
Cap. Flow
-$382M
Cap. Flow %
-2.85%
Top 10 Hldgs %
32.36%
Holding
90
New
4
Increased
62
Reduced
11
Closed
5

Top Buys

Rank Stock Value
1
WAT icon
Waters Corp
WAT
+$139M
2
IPGP icon
IPG Photonics
IPGP
+$136M
3
SIVB
SVB Financial Group
SIVB
+$74.4M
4
ROP icon
Roper Technologies
ROP
+$68.7M
5
NKE icon
Nike
NKE
+$47.8M

Top Sells

Rank Stock Value
1
TPR icon
Tapestry
TPR
+$255M
2
WFC icon
Wells Fargo
WFC
+$190M
3
LAZ icon
Lazard
LAZ
+$169M
4
GOOG icon
Alphabet (Google) Class C
GOOG
+$152M
5
SAP icon
SAP
SAP
+$145M

Sector Composition

Rank Sector Weight
1 Financials 20.49%
2 Technology 15.8%
3 Energy 11.42%
4 Consumer Staples 9.69%
5 Consumer Discretionary 7.61%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EMR icon
26
Emerson Electric
EMR
$88.3B
$198M 1.48%
2,990,504
+13,542
+0.5% +$910K
FRC
27
DELISTED
First Republic Bank
FRC
$189M 1.41%
3,437,099
+11,616
+0.3% +$610K
FFIV icon
28
F5
FFIV
$22.7B
$184M 1.37%
1,653,026
+6,955
+0.4% +$749K
AXP icon
29
American Express
AXP
$230B
$180M 1.34%
1,900,969
+7,051
+0.4% +$636K
MMM icon
30
3M
MMM
$94.3B
$180M 1.34%
1,502,497
+6,026
+0.4% +$707K
CTXS
31
DELISTED
Citrix Systems Inc
CTXS
$178M 1.33%
3,582,848
+12,395
+0.3% +$596K
TRMB icon
32
Trimble
TRMB
$13.9B
$178M 1.32%
4,809,322
+18,096
+0.4% +$677K
XOM icon
33
ExxonMobil
XOM
$634B
$175M 1.31%
1,742,384
+8,197
+0.5% +$827K
HDB icon
34
HDFC Bank
HDB
$121B
$173M 1.29%
14,814,496
+134,724
+0.9% +$1.48M
PX
35
DELISTED
Praxair Inc
PX
$172M 1.28%
1,291,989
+4,033
+0.3% +$528K
QGENF
36
DELISTED
QIAGEN NV
QGENF
$171M 1.27%
6,978,369
+15,687
+0.2% +$384K
WPP icon
37
WPP
WPP
$5.94B
$164M 1.23%
1,508,112
+21,754
+1% +$2.32M
CTSH icon
38
Cognizant
CTSH
$26B
$152M 1.14%
3,116,130
+1,606
+0.1% +$78.3K
ABT icon
39
Abbott
ABT
$187B
$147M 1.1%
3,592,014
+45,987
+1% +$1.81M
AMX icon
40
America Movil
AMX
$71.2B
$145M 1.08%
6,986,647
+42,129
+0.6% +$843K
MA icon
41
Mastercard
MA
$493B
$141M 1.05%
1,921,737
+6,104
+0.3% +$453K
IPGP icon
42
IPG Photonics
IPGP
$3.84B
$138M 1.03%
+2,012,984
New +$136M
WAT icon
43
Waters Corp
WAT
$39.9B
$138M 1.03%
+1,325,216
New +$139M
INFA
44
DELISTED
INFORMATICA CORP
INFA
$137M 1.02%
3,845,700
+12,353
+0.3% +$455K
NBIS
45
Nebius Group N.V.
NBIS
$47.7B
$133M 0.99%
3,725,843
+15,188
+0.4% +$466K
PG icon
46
Procter & Gamble
PG
$339B
$122M 0.91%
1,552,184
-28
-0% -$2.26K
BBD icon
47
Banco Bradesco
BBD
$36.7B
$114M 0.85%
19,996,899
+4,173,257
+26% +$24.4M
RL icon
48
Ralph Lauren
RL
$23.6B
$112M 0.83%
696,411
+2,358
+0.3% +$364K
CBD
49
DELISTED
Companhia Brasileira de Distribuicao
CBD
$98.2M 0.73%
2,120,320
+170,900
+9% +$8.02M
BAP icon
50
Credicorp
BAP
$30.7B
$95.7M 0.71%
615,806
+88,806
+17% +$13.3M
1
2
3 4

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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
Utah Retirement Systems Salt Lake City, Utah $9.78B AUM 28.72% 1-Year Est. Return
MPI
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TIM
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SC
Sculptor Capital New York $9.61B AUM 27.5% 1-Year Est. Return
TCA
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Harding Loevner's Q2 2014 Portfolio in Review

As of Q2 2014, Harding Loevner held 90 positions worth $13.4B, up 2.2% from $13.1B the previous quarter. Its ten largest holdings account for 32% of the portfolio.

Harding Loevner's Q2 2014 filing shows 4 new, 62 increased, 11 reduced and 5 closed positions. Its largest new stake was Waters Corp: 1,325,216 shares worth $138M. The largest sale was Tapestry, an estimated $255M.

By sector, the portfolio is most concentrated in Financials at 20% of assets, down from 22% a quarter earlier, followed by Technology and Energy.

  • Harding Loevner's largest Q2 2014 buy was Waters Corp: 1,325,216 shares worth $138M.
  • Harding Loevner added most to SVB Financial Group in Q2 2014, an estimated $74.4M increase.
  • Harding Loevner's biggest Q2 2014 reduction was Wells Fargo, cutting an estimated $190M.
  • Harding Loevner fully exited Tapestry in Q2 2014, selling an estimated $255M.
  • Harding Loevner's ten largest holdings make up 32% of its $13.4B portfolio in Q2 2014.
  • Harding Loevner opened 4 new positions and closed 5 in Q2 2014.
  • Harding Loevner's portfolio value rose 2.2% quarter-over-quarter to $13.4B.

Based on Harding Loevner's 13F filing for Q2 2014, filed 29 Jul 2014.