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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
+1.33%
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
$14.3B
AUM Growth
+$1.16B
(+8.8%)
Cap. Flow
+$1.33B
Cap. Flow
% of AUM
9.32%
Top 10 Holdings %
Top 10 Hldgs %
35.73%
Holding
89
New
9
Increased
62
Reduced
8
Closed
4
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Verisk Analytics
VRSK
|
+$574M |
| 2 |
Baidu
BIDU
|
+$186M |
| 3 |
ICICI Bank
IBN
|
+$178M |
| 4 |
Lazard
LAZ
|
+$177M |
| 5 |
Booking.com
BKNG
|
+$139M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
HDFC Bank
HDB
|
+$172M |
| 2 |
JPMorgan Chase
JPM
|
+$167M |
| 3 |
CTXS
Citrix Systems Inc
CTXS
|
+$159M |
| 4 |
TSMC
TSM
|
+$118M |
| 5 |
Procter & Gamble
PG
|
+$109M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 20.65% |
| 2 | Technology | 13.81% |
| 3 | Communication Services | 13.15% |
| 4 | Consumer Discretionary | 9.88% |
| 5 | Industrials | 9.15% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Baidu
BIDU
$37.2B
| $824M | 5.77% |
4,173,084
+909,682
| +28% | +$186M |
|
|
2
ICICI Bank
IBN
$108B
| $756M | 5.3% |
79,952,540
+18,947,246
| +31% | +$178M |
|
3
SLB Ltd
SLB
$75B
| $626M | 4.39% |
7,423,729
+334,773
| +5% | +$30.2M |
|
4
SAP
SAP
$238B
| $490M | 3.44% |
6,997,987
+393,426
| +6% | +$29.2M |
|
5
Bunge Global
BG
$20.8B
| $472M | 3.31% |
5,290,536
+272,480
| +5% | +$24.2M |
|
6
Nike
NKE
$61.9B
| $449M | 3.15% |
8,171,506
+232,042
| +3% | +$11.9M |
|
|
7
Verisk Analytics
VRSK
$25B
| $422M | 2.96% |
9,794,590
+7,811,091
| +394% | +$574M |
|
8
eBay
EBAY
$49.8B
| $356M | 2.49% |
13,661,092
+412,613
| +3% | +$10.3M |
|
9
Itaú Unibanco
ITUB
$87.5B
| $355M | 2.49% |
79,390,616
+27,965,993
| +54% | +$132M |
|
10
Roper Technologies
ROP
$39.8B
| $349M | 2.44% |
1,997,830
+56,702
| +3% | +$9.82M |
|
11
Alphabet (Google) Class C
GOOG
$4.32T
| $345M | 2.42% |
12,619,180
+2,599,747
| +26% | +$69.6M |
|
12
Canadian National Railway
CNI
$76.6B
| $325M | 2.28% |
5,580,394
+349,941
| +7% | +$21.9M |
|
13
Mastercard
MA
$493B
| $322M | 2.26% |
3,416,915
+94,300
| +3% | +$8.65M |
|
|
SIVB
14
DELISTED
SVB Financial Group
SIVB
| $313M | 2.2% |
2,184,946
+62,987
| +3% | +$8.51M |
|
15
Imperial Oil
IMO
$60.4B
| $288M | 2.02% |
7,472,156
+434,052
| +6% | +$17.9M |
|
|
FRC
16
DELISTED
First Republic Bank
FRC
| $285M | 2% |
4,485,335
+123,060
| +3% | +$7.44M |
|
17
DaVita
DVA
$11.7B
| $269M | 1.89% |
3,411,009
+61,318
| +2% | +$5.04M |
|
18
Wells Fargo
WFC
$264B
| $268M | 1.88% |
4,718,205
-97,117
| -2% | -$5.41M |
|
|
19
TSMC
TSM
$2.18T
| $255M | 1.79% |
11,052,278
-4,936,809
| -31% | -$118M |
|
20
AB InBev
BUD
$165B
| $254M | 1.78% |
2,094,791
+161,108
| +8% | +$19.8M |
|
|
ARMH
21
DELISTED
ARM HOLDINGS PLC ADS
ARMH
| $253M | 1.77% |
5,163,370
-1,030,006
| -17% | -$53.6M |
|
|
MON
22
DELISTED
Monsanto Co
MON
| $246M | 1.72% |
2,269,893
+61,290
| +3% | +$7.11M |
|
23
American Express
AXP
$230B
| $227M | 1.59% |
2,901,560
+1,154,694
| +66% | +$91.6M |
|
24
Colgate-Palmolive
CL
$74.4B
| $217M | 1.52% |
3,283,162
+93,540
| +3% | +$6.35M |
|
|
CHL
25
DELISTED
China Mobile Limited
CHL
| $203M | 1.42% |
3,131,800
+1,427,055
| +84% | +$97.5M |
|
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Harding Loevner's Q2 2015 Portfolio in Review
As of Q2 2015, Harding Loevner held 89 positions worth $14.3B, up 8.8% from $13.1B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Harding Loevner deployed $1.33B of net new capital in Q2 2015, opening 9 new positions and adding to 62 existing holdings. Its largest new stake was Lazard: 3,178,287 shares worth $177M.
By sector, the portfolio is most concentrated in Financials at 21% of assets, up from 20% a quarter earlier, followed by Technology and Communication Services.
On the sell side, the largest reduction was HDFC Bank, an estimated $172M trimmed.
- Harding Loevner's largest Q2 2015 buy was Lazard: 3,178,287 shares worth $177M.
- Harding Loevner added most to Verisk Analytics in Q2 2015, an estimated $574M increase.
- Harding Loevner's biggest Q2 2015 reduction was HDFC Bank, cutting an estimated $172M.
- Harding Loevner fully exited JPMorgan Chase in Q2 2015, selling an estimated $167M.
- Harding Loevner's ten largest holdings make up 36% of its $14.3B portfolio in Q2 2015.
- Harding Loevner opened 9 new positions and closed 4 in Q2 2015.
- Harding Loevner's portfolio value rose 8.8% quarter-over-quarter to $14.3B.
Based on Harding Loevner's 13F filing for Q2 2015, filed 24 Jul 2015.