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.

• SAPSAP−$243M$753M
• MicrosoftMSFT+$178M$606M
• SalesforceCRM+$70.9M$263M
• Joint Stock Company Kaspi.kzKSPI+$64.4M$64.4M
• AdobeADBE−$17.4M$175M

Software held

• SAPSAP3,859,673 shares · 31.9% of their software · price +$156M$753M−$243M
• MicrosoftMSFT1,440,595 shares · 25.7% of their software · price +$64.4M$606M+$178M
• SalesforceCRM872,832 shares · 11.2% of their software · price +$33.2M$263M+$70.9M
• ServiceNowNOW250,556 shares · 8.1% of their software · price +$14.0M$191M−$14.8M
• AdobeADBE346,696 shares · 7.4% of their software · price −$31.9M$175M−$17.4M
• CoStarCSGP1,601,191 shares · 6.6% of their software · price +$14.7M$155M−$11.4M
• SynopsysSNPS262,417 shares · 6.4% of their software · price +$14.9M$150M−$14.8M
• Joint Stock Company Kaspi.kzKSPI500,351 shares · 2.7% of their software$64.4MNew · +$64.4M