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Harding Loevner LP

Q2 2025 · Filed 2025-08-14
Market Value
$14.9B
+13.8%
Holdings
72
-1
New Purchases
5
Added To
29
Closed
5
Reduced
32
Top 10 Concentration
44.5%
Turnover
13.9%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
NTES 2.34% 0.06% +2.28% $348M
RYAAY 1.70% 0.00% +1.70% $253M
TSM 8.56% 7.31% +1.25% $1.3B
V 0.67% 0.00% +0.67% $100M
PGR 0.63% 0.00% +0.63% $93M
JNJ 0.60% 0.00% +0.60% $88M
MSFT 3.25% 2.73% +0.52% $483M
NVDA 1.08% 0.58% +0.50% $161M
MELI 3.94% 3.48% +0.45% $585M
SNPS 0.97% 0.63% +0.34% $144M
TW 1.76% 1.42% +0.33% $261M
META 2.39% 2.08% +0.31% $355M
AVGO 1.42% 1.16% +0.26% $211M
NVS 0.26% 0.00% +0.26% $38M
APH 0.96% 0.71% +0.25% $143M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
UNH 0.00% 1.95% -1.95% $0
CRM 0.33% 1.52% -1.19% $49M
ALC 4.16% 5.18% -1.02% $619M
TMO 0.63% 1.59% -0.96% $93M
ACN 0.86% 1.69% -0.82% $128M
ZTO 1.47% 2.01% -0.53% $219M
LIN 3.00% 3.49% -0.49% $445M
BHP 2.57% 3.04% -0.47% $382M
VRTX 2.13% 2.59% -0.46% $317M
FMX 3.75% 4.21% -0.46% $557M
MFC 1.32% 1.77% -0.45% $196M
GLOB 0.47% 0.78% -0.31% $70M
SHEL 1.57% 1.88% -0.31% $233M
HLN 1.57% 1.82% -0.24% $234M
SONY 1.69% 1.91% -0.22% $251M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 21 $6.2B 41.8%
Large Cap 47 $8.5B 57.0%
Mid Cap 3 $110M 0.7%
Small Cap 1 $70M 0.5%

Portfolio Analytics

Avg Market Cap
$419.0B
Median Market Cap
$105.4B
Avg P/E
27.0
Median P/E
24.4
Avg Dividend Yield
0.02%
Avg Beta
0.81
# Stocks
66
# ETFs / Funds
6

Top Holdings (72 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 TSM 8.56% 5,614,431 $1.3B $226.51 $317M -135,531 -2.4%
2 HDB 7.31% 14,156,272 $1.1B $76.67 $120M -368,410 -2.5%
3 SAP 5.05% 2,465,593 $750M $304.07 $75M -47,558 -1.9%
4 ALC 4.16% 7,007,181 $619M $88.28 -$58M -117,331 -1.6%
5 MELI 3.94% 223,680 $585M $2,613.95 $130M -9,429 -4.0%
6 FMX 3.75% 5,408,814 $557M $102.96 $8M -220,432 -3.9%
7 MSFT 3.25% 970,400 $483M $497.44 $126M +20,068 +2.1%
8 LIN 3.00% 948,412 $445M $469.19 -$10M -29,096 -3.0%
9 NFLX 2.76% 306,655 $411M $1,339.07 $57M -72,875 -19.2%
10 GOOGL 2.75% 2,317,026 $408M $176.24 $56M +41,611 +1.8%
11 AMZN 2.74% 1,854,371 $407M $219.39 $60M +32,078 +1.8%
12 BHP 2.57% 7,932,302 $382M $48.10 -$16M -254,016 -3.1%
13 META 2.39% 480,942 $355M $738.12 $83M +8,696 +1.8%
14 BAP 2.37% 1,577,714 $353M $223.55 $49M -55,665 -3.4%
15 NTES 2.34% 2,582,636 $348M $134.58 $340M +2,512,165 +3564.8%
16 VRTX 2.13% 711,611 $317M $445.22 -$22M +13,152 +1.9%
17 TW 1.76% 1,782,816 $261M $146.40 $75M +531,715 +42.5%
18 CME 1.76% 946,808 $261M $275.63 $14M +17,444 +1.9%
19 RYAAY 1.70% 4,387,970 $253M $57.67 +4,387,970 NEW
20 SONY 1.69% 9,631,000 $251M $26.02 $1M -199,162 -2.0%
21 CNI 1.63% 2,325,177 $242M $104.03 $8M -70,287 -2.9%
22 HLN 1.57% 22,551,041 $234M $10.37 -$4M -520,880 -2.3%
23 SHEL 1.57% 3,312,679 $233M $70.42 -$13M -43,447 -1.3%
24 DE 1.56% 454,468 $231M $508.50 $22M +9,910 +2.2%
25 ASML 1.49% 276,554 $222M $801.03 $40M +1,943 +0.7%
26 ZTO 1.47% 12,321,785 $219M $17.75 -$43M -885,787 -6.7%
27 AVGO 1.42% 764,985 $211M $275.66 $59M -139,534 -15.4%
28 BKNG 1.36% 34,926 $202M $5,789.24 $44M +690 +2.0%
29 MFC 1.32% 6,137,932 $196M $31.95 -$35M -1,270,933 -17.1%
30 NVDA 1.08% 1,019,781 $161M $158.00 $85M +321,109 +46.0%
31 HEI 0.98% 442,150 $145M $328.01 $29M +6,587 +1.5%
32 SNPS 0.97% 281,564 $144M $512.75 $62M +88,524 +45.9%
33 APH 0.96% 1,443,477 $143M $98.76 $50M +27,036 +1.9%
34 ADBE 0.94% 360,066 $139M $386.86 $49M +124,610 +52.9%
35 BBVA 0.92% 8,868,895 $136M $15.38 $13M -171,805 -1.9%
36 NOW 0.90% 130,575 $134M $1,028.08 $32M +2,134 +1.7%
37 AMAT 0.88% 712,217 $130M $183.07 $28M +9,037 +1.3%
38 TTD 0.87% 1,791,295 $129M $72.00 $33M +35,324 +2.0%
39 ACN 0.86% 429,388 $128M $298.87 -$92M -276,920 -39.2%
40 CSGP 0.79% 1,467,080 $118M $80.41 $4M +26,981 +1.9%
41 DHR 0.76% 570,834 $113M $197.54 -$2M +10,170 +1.8%
42 RIO 0.75% 1,903,949 $111M $58.34 -$7M -68,652 -3.5%
43 ABBV 0.74% 592,388 $110M $185.63 -$12M +9,833 +1.7%
44 AME 0.70% 577,923 $105M $180.96 $7M +10,527 +1.9%
45 V 0.67% 281,841 $100M $355.05 +281,841 NEW
46 ATKR 0.64% 1,338,162 $94M $70.55 $17M +41,129 +3.2%
47 PGR 0.63% 349,554 $93M $266.85 +349,554 NEW
48 TMO 0.63% 229,531 $93M $405.51 -$114M -187,050 -44.9%
49 JNJ 0.60% 579,182 $88M $152.76 +579,182 NEW
50 HON 0.58% 372,417 $87M $232.88 $9M +6,403 +1.8%
51 TLK 0.57% 5,015,102 $85M $16.95 $19M +552,636 +12.4%
52 SLB 0.52% 2,305,795 $78M $33.80 $3M +508,703 +28.3%
53 NOC 0.51% 151,207 $76M $500.06 -$357K +2,829 +1.9%
54 GLOB 0.47% 769,843 $70M $90.84 -$32M -98,535 -11.3%
55 GMAB 0.41% 2,923,439 $60M $20.67 $4M +42,613 +1.5%
56 CRM 0.33% 179,859 $49M $272.70 -$149M -559,721 -75.7%
57 VEU 0.29% 649,338 $44M $67.22 -$12M -273,175 -29.6%
58 NVS 0.26% 313,527 $38M $121.03 +313,527 NEW
59 TS 0.11% 450,593 $17M $37.40 -$6M -145,053 -24.4%
60 KSPI 0.09% 151,360 $13M $84.89 -$4M -34,947 -18.8%
61 ITUB 0.08% 1,747,688 $12M $6.79 -$401K -482,857 -21.6%
62 INDA 0.06% 157,699 $9M $55.68 $662K
63 EPAM 0.05% 40,538 $7M $176.82 -$1M -10,028 -19.8%
64 IBN 0.02% 76,478 $3M $33.64 -$5K -5,313 -6.5%
65 ACWI 0.01% 14,287 $2M $128.62 -$2M -20,305 -58.7%
66 VEA 0.01% 23,578 $1M $57.02 $15K -2,579 -9.9%
67 EFA —% 3,158 $282K $89.41 -$1M -15,449 -83.0%
68 UNH —% -$255M -487,113 -100.0% SOLD
69 CIB —% -$7M -183,661 -100.0% SOLD
70 EFG —% -$899K -8,990 -100.0% SOLD
71 BABA —% -$4M -33,058 -100.0% SOLD
72 ABEV —% -$90K -38,686 -100.0% SOLD

New Positions

SymbolValue% Port
RYAAY $253M 1.70%
V $100M 0.67%
PGR $93M 0.63%
JNJ $88M 0.60%
NVS $38M 0.26%

Sold Out Positions

SymbolValue% Port
ABEV —%
CIB —%
UNH —%
EFG —%
BABA —%
View SEC EDGAR Filings for Harding Loevner LP →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms