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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
+1.33%
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
$14.3B
AUM Growth
+$1.16B
Cap. Flow
+$1.33B
Cap. Flow %
9.32%
Top 10 Hldgs %
35.73%
Holding
89
New
9
Increased
62
Reduced
8
Closed
4
Avg Time Held
5.9 quarters
Top 10 Avg Time Held
4.3 quarters
Top 20 Avg Time Held
4.8 quarters

Top Buys

Rank Stock Value
1
VRSK icon
Verisk Analytics
VRSK
+$574M
2
BIDU icon
Baidu
BIDU
+$186M
3
IBN icon
ICICI Bank
IBN
+$178M
4
LAZ icon
Lazard
LAZ
+$177M
5
BKNG icon
Booking.com
BKNG
+$139M

Top Sells

Rank Stock Value
1
HDB icon
HDFC Bank
HDB
+$172M
2
JPM icon
JPMorgan Chase
JPM
+$167M
3
CTXS
Citrix Systems Inc
CTXS
+$159M
4
TSM icon
TSMC
TSM
+$118M
5
PG icon
Procter & Gamble
PG
+$109M

Sector Composition

Rank Sector Weight
1 Financials 22.64%
2 Communication Services 14.57%
3 Technology 13.81%
4 Consumer Discretionary 9.89%
5 Industrials 9.15%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
BIDU icon
1
Baidu
BIDU
$29B
$824M 5.77%
4,173,084
+909,682
+28% +$186M
2013 Q2
8 quarters
IBN icon
2
ICICI Bank
IBN
$100B
$756M 5.3%
79,952,540
+18,947,246
+31% +$178M
2013 Q2
8 quarters
SLB icon
3
SLB Ltd
SLB
$72.6B
$626M 4.39%
7,423,729
+334,773
+5% +$30.2M
2013 Q2
8 quarters
SAP icon
4
SAP
SAP
$248B
$490M 3.44%
6,997,987
+393,426
+6% +$29.2M
2013 Q2
8 quarters
BG icon
5
Bunge Global
BG
$19.7B
$472M 3.31%
5,290,536
+272,480
+5% +$24.2M
2013 Q2
8 quarters
NKE icon
6
Nike
NKE
$51.6B
$449M 3.15%
8,171,506
+232,042
+3% +$11.9M
2013 Q2
8 quarters
VRSK icon
7
Verisk Analytics
VRSK
$23.1B
$422M 2.96%
9,794,590
+7,811,091
+394% +$574M
2014 Q4
2 quarters
EBAY icon
8
eBay
EBAY
$49.9B
$356M 2.49%
13,661,092
+412,613
+3% +$10.3M
2013 Q2
8 quarters
ITUB icon
9
Itaú Unibanco
ITUB
$112B
$355M 2.49%
79,390,616
+27,965,993
+54% +$132M
2013 Q2
8 quarters
ROP icon
10
Roper Technologies
ROP
$36B
$349M 2.44%
1,997,830
+56,702
+3% +$9.82M
2013 Q2
8 quarters
GOOG icon
11
Alphabet (Google) Class C
GOOG
$4.25T
$345M 2.42%
12,619,180
+2,599,747
+26% +$69.6M
2013 Q2
8 quarters
CNI icon
12
Canadian National Railway
CNI
$71.2B
$325M 2.28%
5,580,394
+349,941
+7% +$21.9M
2013 Q2
8 quarters
MA icon
13
Mastercard
MA
$516B
$322M 2.26%
3,416,915
+94,300
+3% +$8.65M
2013 Q3
7 quarters
SIVB
14
DELISTED
SVB Financial Group
SIVB
$313M 2.2%
2,184,946
+62,987
+3% +$8.51M
2013 Q2
8 quarters
IMO icon
15
Imperial Oil
IMO
$59.5B
$288M 2.02%
7,472,156
+434,052
+6% +$17.9M
2013 Q2
8 quarters
FRC
16
DELISTED
First Republic Bank
FRC
$285M 2%
4,485,335
+123,060
+3% +$7.44M
2013 Q2
8 quarters
DVA icon
17
DaVita
DVA
$11.4B
$269M 1.89%
3,411,009
+61,318
+2% +$5.04M
2013 Q4
6 quarters
WFC icon
18
Wells Fargo
WFC
$253B
$268M 1.88%
4,718,205
-97,117
-2% -$5.41M
2013 Q2
8 quarters
TSM icon
19
TSMC
TSM
$2.35T
$255M 1.79%
11,052,278
-4,936,809
-31% -$118M
2013 Q2
8 quarters
BUD icon
20
AB InBev
BUD
$152B
$254M 1.78%
2,094,791
+161,108
+8% +$19.8M
2013 Q2
8 quarters
ARMH
21
DELISTED
ARM HOLDINGS PLC ADS
ARMH
$253M 1.77%
5,163,370
-1,030,006
-17% -$53.6M
2013 Q2
8 quarters
MON
22
DELISTED
Monsanto Co
MON
$246M 1.72%
2,269,893
+61,290
+3% +$7.11M
2013 Q2
8 quarters
AXP icon
23
American Express
AXP
$208B
$227M 1.59%
2,901,560
+1,154,694
+66% +$91.6M
2013 Q2
8 quarters
CL icon
24
Colgate-Palmolive
CL
$70.4B
$217M 1.52%
3,283,162
+93,540
+3% +$6.35M
2013 Q2
8 quarters
CHL
25
DELISTED
China Mobile Limited
CHL
$203M 1.42%
3,131,800
+1,427,055
+84% +$97.5M
2015 Q1
1 quarter
1
2 3 4

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VAS
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DPIM
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CA
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SCM
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FCM
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URS
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AAM
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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 23% of assets, up from 22% a quarter earlier, followed by Communication Services and Technology.

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.