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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
+3.92%
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
$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
Avg Time Held
7.1 quarters
Top 10 Avg Time Held
4.3 quarters
Top 20 Avg Time Held
5.2 quarters

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 18.82%
2 Communication Services 17.06%
3 Technology 16.16%
4 Energy 11.77%
5 Consumer Discretionary 9.27%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
FFIV icon
26
F5
FFIV
$27.2B
$199M 1.57%
1,878,425
-46,215
-2% -$4.43M
2013 Q2
11 quarters
CL icon
27
Colgate-Palmolive
CL
$70.4B
$191M 1.51%
2,707,581
-69,933
-3% -$4.65M
2013 Q2
11 quarters
WFC icon
28
Wells Fargo
WFC
$253B
$189M 1.49%
3,902,501
-98,674
-2% -$4.83M
2013 Q2
11 quarters
PYPL icon
29
PayPal
PYPL
$47.5B
$183M 1.44%
4,742,415
-121,832
-3% -$4.4M
2015 Q3
2 quarters
RDS.B
30
DELISTED
Royal Dutch Shell PLC ADS Class B
RDS.B
$176M 1.39%
+3,569,431
New +$160M
2016 Q1
0 quarters
TV icon
31
Televisa
TV
$1.16B
$171M 1.35%
6,233,955
+661,100
+12% +$17.3M
2014 Q4
5 quarters
BBD icon
32
Banco Bradesco
BBD
$45.5B
$164M 1.29%
46,697,554
+6,895,902
+17% +$17.9M
2013 Q2
11 quarters
META icon
33
Meta Platforms (Facebook)
META
$1.83T
$160M 1.27%
1,406,163
-36,494
-3% -$3.85M
2015 Q1
4 quarters
MMM icon
34
3M
MMM
$82.5B
$160M 1.26%
1,144,931
-29,338
-2% -$3.77M
2013 Q2
11 quarters
IPGP icon
35
IPG Photonics
IPGP
$3.33B
$158M 1.25%
1,648,333
-41,910
-2% -$3.56M
2014 Q2
7 quarters
ASR icon
36
Grupo Aeroportuario del Sureste
ASR
$6.95B
$157M 1.24%
1,046,322
+114,100
+12% +$15.6M
2013 Q2
11 quarters
BAP icon
37
Credicorp
BAP
$30.3B
$155M 1.22%
1,179,395
+93,400
+9% +$10.3M
2013 Q2
11 quarters
AXP icon
38
American Express
AXP
$208B
$148M 1.17%
2,411,126
-57,162
-2% -$3.33M
2013 Q2
11 quarters
XOM icon
39
ExxonMobil
XOM
$695B
$144M 1.14%
1,728,168
-42,034
-2% -$3.37M
2013 Q2
11 quarters
MSFT icon
40
Microsoft
MSFT
$3.97T
$139M 1.09%
2,510,558
-63,916
-2% -$3.35M
2013 Q2
11 quarters
GRFS
41
Grifois
GRFS
$5.08B
$138M 1.09%
8,921,938
-1,216,084
-12% -$18.4M
2014 Q2
7 quarters
WAT icon
42
Waters Corp
WAT
$42.6B
$130M 1.03%
987,031
-25,498
-3% -$3.18M
2014 Q2
7 quarters
ABBV icon
43
AbbVie
ABBV
$489B
$126M 0.99%
2,205,302
-56,200
-2% -$3.13M
2014 Q3
6 quarters
CBD
44
DELISTED
Companhia Brasileira de Distribuicao
CBD
$122M 0.96%
8,772,435
+799,500
+10% +$8.7M
2013 Q4
9 quarters
CRM icon
45
Salesforce
CRM
$189B
$121M 0.95%
1,637,850
-41,412
-2% -$2.85M
2015 Q1
4 quarters
CGNX icon
46
Cognex
CGNX
$10.6B
$117M 0.92%
6,020,026
-154,238
-2% -$2.69M
2015 Q3
2 quarters
ABT icon
47
Abbott
ABT
$172B
$110M 0.87%
2,622,049
-67,726
-3% -$2.68M
2013 Q2
11 quarters
RHT
48
DELISTED
Red Hat Inc
RHT
$109M 0.86%
1,469,120
-25,715
-2% -$1.81M
2015 Q3
2 quarters
JOBS
49
DELISTED
51job Inc
JOBS
$108M 0.85%
3,474,072
+423,100
+14% +$12.1M
2013 Q2
11 quarters
SBNY
50
DELISTED
Signature Bank
SBNY
$105M 0.83%
+772,907
New +$105M
2016 Q1
0 quarters
1
2
3 4 5

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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 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 19% of assets, down from 20% a quarter earlier, followed by Communication Services and Technology.

  • 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.