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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
+3.92%
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
$12.7B
AUM Growth
+$327M
Cap. Flow
-$24.5M
Cap. Flow %
-0.19%
Top 10 Hldgs %
34.52%
Holding
118
New
7
Increased
33
Reduced
40
Closed
25

Top Buys

Rank Stock Value
1
RDS.B
Royal Dutch Shell PLC ADS Class B
RDS.B
+$160M
2
SBNY
Signature Bank
SBNY
+$105M
3
SIVB
SVB Financial Group
SIVB
+$99.3M
4
CEO
CNOOC Limited
CEO
+$87.7M
5
BIDU icon
Baidu
BIDU
+$64.9M

Top Sells

Rank Stock Value
1
IBN icon
ICICI Bank
IBN
+$372M
2
NVO
Novo Nordisk
NVO
+$103M
3
TRMB icon
Trimble
TRMB
+$78.6M
4
ITUB icon
Itaú Unibanco
ITUB
+$76.7M
5
IMO icon
Imperial Oil
IMO
+$60.2M

Sector Composition

Rank Sector Weight
1 Financials 16.88%
2 Technology 16.16%
3 Communication Services 15.44%
4 Energy 10.13%
5 Consumer Discretionary 9.26%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FFIV icon
26
F5
FFIV
$22.7B
$199M 1.57%
1,878,425
-46,215
-2% -$4.43M
CL icon
27
Colgate-Palmolive
CL
$74.4B
$191M 1.51%
2,707,581
-69,933
-3% -$4.65M
WFC icon
28
Wells Fargo
WFC
$264B
$189M 1.49%
3,902,501
-98,674
-2% -$4.83M
PYPL icon
29
PayPal
PYPL
$50.5B
$183M 1.44%
4,742,415
-121,832
-3% -$4.4M
RDS.B
30
DELISTED
Royal Dutch Shell PLC ADS Class B
RDS.B
$176M 1.39%
+3,569,431
New +$160M
TV icon
31
Televisa
TV
$1.49B
$171M 1.35%
6,233,955
+661,100
+12% +$17.3M
BBD icon
32
Banco Bradesco
BBD
$36.7B
$164M 1.29%
46,697,554
+6,895,902
+17% +$17.9M
META icon
33
Meta Platforms (Facebook)
META
$1.51T
$160M 1.27%
1,406,163
-36,494
-3% -$3.85M
MMM icon
34
3M
MMM
$94.3B
$160M 1.26%
1,144,931
-29,338
-2% -$3.77M
IPGP icon
35
IPG Photonics
IPGP
$3.84B
$158M 1.25%
1,648,333
-41,910
-2% -$3.56M
ASR icon
36
Grupo Aeroportuario del Sureste
ASR
$8.3B
$157M 1.24%
1,046,322
+114,100
+12% +$15.6M
BAP icon
37
Credicorp
BAP
$30.7B
$155M 1.22%
1,179,395
+93,400
+9% +$10.3M
AXP icon
38
American Express
AXP
$230B
$148M 1.17%
2,411,126
-57,162
-2% -$3.33M
XOM icon
39
ExxonMobil
XOM
$634B
$144M 1.14%
1,728,168
-42,034
-2% -$3.37M
MSFT icon
40
Microsoft
MSFT
$3.71T
$139M 1.09%
2,510,558
-63,916
-2% -$3.35M
GRFS
41
Grifois
GRFS
$5.4B
$138M 1.09%
8,921,938
-1,216,084
-12% -$18.4M
WAT icon
42
Waters Corp
WAT
$39.9B
$130M 1.03%
987,031
-25,498
-3% -$3.18M
ABBV icon
43
AbbVie
ABBV
$435B
$126M 0.99%
2,205,302
-56,200
-2% -$3.13M
CBD
44
DELISTED
Companhia Brasileira de Distribuicao
CBD
$122M 0.96%
8,772,435
+799,500
+10% +$8.7M
CRM icon
45
Salesforce
CRM
$158B
$121M 0.95%
1,637,850
-41,412
-2% -$2.85M
CGNX icon
46
Cognex
CGNX
$11.3B
$117M 0.92%
6,020,026
-154,238
-2% -$2.69M
ABT icon
47
Abbott
ABT
$187B
$110M 0.87%
2,622,049
-67,726
-3% -$2.68M
RHT
48
DELISTED
Red Hat Inc
RHT
$109M 0.86%
1,469,120
-25,715
-2% -$1.81M
JOBS
49
DELISTED
51job Inc
JOBS
$108M 0.85%
3,474,072
+423,100
+14% +$12.1M
SBNY
50
DELISTED
Signature Bank
SBNY
$105M 0.83%
+772,907
New +$105M
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 Q1 2016 Portfolio in Review

As of Q1 2016, Harding Loevner held 118 positions worth $12.7B, up 2.6% from $12.3B the previous quarter. Its ten largest holdings account for 35% of the portfolio.

Harding Loevner's Q1 2016 filing shows 7 new, 33 increased, 40 reduced and 25 closed positions. Its largest new stake was Royal Dutch Shell PLC ADS Class B: 3,569,431 shares worth $176M. The largest sale was ICICI Bank, an estimated $372M.

By sector, the portfolio is most concentrated in Financials at 17% of assets, down from 18% a quarter earlier, followed by Technology and Communication Services.

  • Harding Loevner's largest Q1 2016 buy was Royal Dutch Shell PLC ADS Class B: 3,569,431 shares worth $176M.
  • Harding Loevner added most to SVB Financial Group in Q1 2016, an estimated $99.3M increase.
  • Harding Loevner's biggest Q1 2016 reduction was ICICI Bank, cutting an estimated $372M.
  • Harding Loevner fully exited Novo Nordisk in Q1 2016, selling an estimated $103M.
  • Harding Loevner's ten largest holdings make up 35% of its $12.7B portfolio in Q1 2016.
  • Harding Loevner opened 7 new positions and closed 25 in Q1 2016.
  • Harding Loevner's portfolio value rose 2.6% quarter-over-quarter to $12.7B.

Based on Harding Loevner's 13F filing for Q1 2016, filed 2 May 2016.