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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
+5.76%
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
$13.4B
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
Avg Time Held
3.4 quarters
Top 10 Avg Time Held
2.9 quarters
Top 20 Avg Time Held
3 quarters

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 21.9%
2 Technology 15.8%
3 Energy 11.97%
4 Consumer Staples 10.42%
5 Consumer Discretionary 7.61%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
EMR icon
26
Emerson Electric
EMR
$90.3B
$198M 1.48%
2,990,504
+13,542
+0.5% +$910K
2013 Q2
4 quarters
FRC
27
DELISTED
First Republic Bank
FRC
$189M 1.41%
3,437,099
+11,616
+0.3% +$610K
2013 Q2
4 quarters
FFIV icon
28
F5
FFIV
$27.2B
$184M 1.37%
1,653,026
+6,955
+0.4% +$749K
2013 Q2
4 quarters
AXP icon
29
American Express
AXP
$208B
$180M 1.34%
1,900,969
+7,051
+0.4% +$636K
2013 Q2
4 quarters
MMM icon
30
3M
MMM
$82.5B
$180M 1.34%
1,502,497
+6,026
+0.4% +$707K
2013 Q2
4 quarters
CTXS
31
DELISTED
Citrix Systems Inc
CTXS
$178M 1.33%
3,582,848
+12,395
+0.3% +$596K
2013 Q2
4 quarters
TRMB icon
32
Trimble
TRMB
$14B
$178M 1.32%
4,809,322
+18,096
+0.4% +$677K
2013 Q2
4 quarters
XOM icon
33
ExxonMobil
XOM
$695B
$175M 1.31%
1,742,384
+8,197
+0.5% +$827K
2013 Q2
4 quarters
HDB icon
34
HDFC Bank
HDB
$115B
$173M 1.29%
14,814,496
+134,724
+0.9% +$1.48M
2013 Q2
4 quarters
PX
35
DELISTED
Praxair Inc
PX
$172M 1.28%
1,291,989
+4,033
+0.3% +$528K
2013 Q2
4 quarters
QGENF
36
DELISTED
QIAGEN NV
QGENF
$171M 1.27%
6,978,369
+15,687
+0.2% +$384K
2013 Q2
4 quarters
WPP icon
37
WPP
WPP
$5.47B
$164M 1.23%
1,508,112
+21,754
+1% +$2.32M
2013 Q2
4 quarters
CTSH icon
38
Cognizant
CTSH
$26.7B
$152M 1.14%
3,116,130
+1,606
+0.1% +$78.3K
2013 Q2
4 quarters
ABT icon
39
Abbott
ABT
$172B
$147M 1.1%
3,592,014
+45,987
+1% +$1.81M
2013 Q2
4 quarters
AMX icon
40
America Movil
AMX
$63.7B
$145M 1.08%
6,986,647
+42,129
+0.6% +$843K
2013 Q2
4 quarters
MA icon
41
Mastercard
MA
$516B
$141M 1.05%
1,921,737
+6,104
+0.3% +$453K
2013 Q3
3 quarters
IPGP icon
42
IPG Photonics
IPGP
$3.33B
$138M 1.03%
+2,012,984
New +$136M
2014 Q2
0 quarters
WAT icon
43
Waters Corp
WAT
$42.6B
$138M 1.03%
+1,325,216
New +$139M
2014 Q2
0 quarters
INFA
44
DELISTED
INFORMATICA CORP
INFA
$137M 1.02%
3,845,700
+12,353
+0.3% +$455K
2013 Q2
4 quarters
NBIS
45
Nebius Group N.V.
NBIS
$60.1B
$133M 0.99%
3,725,843
+15,188
+0.4% +$466K
2014 Q1
1 quarter
PG icon
46
Procter & Gamble
PG
$351B
$122M 0.91%
1,552,184
-28
-0% -$2.26K
2013 Q2
4 quarters
BBD icon
47
Banco Bradesco
BBD
$45.5B
$114M 0.85%
19,996,899
+4,173,257
+26% +$24.4M
2013 Q2
4 quarters
RL icon
48
Ralph Lauren
RL
$22.1B
$112M 0.83%
696,411
+2,358
+0.3% +$364K
2013 Q2
4 quarters
CBD
49
DELISTED
Companhia Brasileira de Distribuicao
CBD
$98.2M 0.73%
2,120,320
+170,900
+9% +$8.02M
2013 Q4
2 quarters
BAP icon
50
Credicorp
BAP
$30.3B
$95.7M 0.71%
615,806
+88,806
+17% +$13.3M
2013 Q2
4 quarters
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
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FCM
Frontier Capital Management Boston, Massachusetts $10.7B AUM 67.78% 1-Year Est. Return
URS
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AAM
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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 22% of assets, down from 23% 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.