Harding Loevner

Quarters on file

Each quarter on file, back to June 2016 when the filing exists. Net bought is the share change from the previous quarter at that quarter’s close. A split that leaves the dollar value in place counts as flat.

• Q2 20265 names$474M−$120M
• Q1 20266 names$650M−$108M
• Q4 20257 names$903M−$727M
• Q3 20259 names$1.8B−$12.5M
• Q2 20259 names$2.0B−$67.2M
• Q1 20259 names$1.7B−$30.3M
• Q4 20248 names$2.0B−$430M
• Q3 20248 names$2.3B−$398M
• Q2 20248 names$2.6B+$258M
• Q1 20248 names$2.4B+$11.7M
• Q4 20237 names$2.1B−$33.3M
• Q3 20237 names$1.8B−$315M
• Q2 20237 names$2.2B−$567M
• Q1 20238 names$2.5B−$222M
• Q4 202210 names$2.3B+$360M
• Q3 202217 names$1.7B+$21.5M
• Q2 202217 names$1.8B−$336M
• Q1 202217 names$2.2B−$587M
• Q4 202117 names$3.5B−$423M
• Q3 202115 names$3.7B+$114M
• Q2 202115 names$3.5B+$1.9B
• Q1 202114 names$3.0B+$254M
• Q4 202014 names$2.9B−$575M
• Q3 202013 names$3.6B−$211M
• Q2 202013 names$3.4B−$97.9M
• Q1 202013 names$2.8B−$860K
• Q4 201913 names$3.2B+$36.5M
• Q3 201913 names$3.0B−$191M
• Q2 201912 names$3.4B+$36.0M
• Q1 201911 names$3.1B+$181M
• Q4 201813 names$2.4B+$121M
• Q3 201811 names$2.7B+$149M
• Q2 201811 names$2.2B−$126M
• Q1 201810 names$2.3B+$111M
• Q4 201710 names$2.2BFlat
• Q3 20176 names$1.6MFlat
• Q2 201712 names$2.2B+$14.2M
• Q1 20176 names$2.1B+$133M
• Q4 20166 names$1.7B+$23.6M
• Q3 20167 names$1.7B+$206M
• Q2 20166 names$1.3B—

What moved the book

The five software lines with the largest share change this quarter.

• The Trade DeskTTD−$246M$85K
• Roper Technologies, Inc.ROP+$8.5M$459M
• VeriskVRSK+$7.4M$388M
• MicrosoftMSFT+$4.9M$292M
• SynopsysSNPS+$3.9M$230M

Software held

• SAPSAP7,593,859 shares · 33.3% of their software · price +$120M$1.2BFlat
• Check PointCHKP4,739,244 shares · 16.1% of their software · price +$61.2M$570MFlat
• Roper Technologies, Inc.ROP1,161,822 shares · 12.9% of their software · price +$8.0M$459M+$8.5M
• VeriskVRSK2,095,750 shares · 10.9% of their software · price +$31.7M$388M+$7.4M
• MicrosoftMSFT1,390,286 shares · 8.2% of their software · price +$9.5M$292M+$4.9M
• SalesforceCRM950,474 shares · 6.7% of their software · price +$60.8M$239M+$3.1M
• SynopsysSNPS1,076,441 shares · 6.5% of their software · price +$20.4M$230M+$3.9M
• WorkdayWDAY885,239 shares · 5.4% of their software · price +$24.6M$190M+$3.0M
• The Trade DeskTTD163 shares · 0.0% of their software$85K−$246M
• Automatic Data Processing, Inc.ADP418 shares · 0.0% of their software$58KFlat
• AdobeADBE90 shares · 0.0% of their software$44KFlat
• GuidewireGWRE308 shares · 0.0% of their software$32KFlat
• ServiceNowNOW54 shares · 0.0% of their software$26KFlat