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Harding Loevner LP

Q3 2025 · Filed 2025-11-14
Market Value
$13.6B
-8.3%
Holdings
72
New Purchases
5
Added To
11
Closed
2
Reduced
53
Top 10 Concentration
45.0%
Turnover
9.7%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
NICE 2.35% 0.00% +2.35% $321M
SE 2.05% 0.00% +2.05% $279M
TSM 10.58% 8.56% +2.02% $1.4B
RYAAY 2.36% 1.70% +0.66% $322M
BAP 3.02% 2.37% +0.64% $411M
BHP 3.20% 2.57% +0.63% $436M
PGR 1.25% 0.63% +0.63% $171M
ANTM 0.58% 0.00% +0.58% $80M
NTES 2.84% 2.34% +0.50% $386M
ASML 1.94% 1.49% +0.45% $265M
FMX 4.15% 3.75% +0.40% $565M
GMAB 0.78% 0.41% +0.38% $107M
NVS 0.59% 0.26% +0.34% $81M
BBVA 1.24% 0.92% +0.32% $169M
LIN 3.26% 3.00% +0.27% $445M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
ZTO 0.13% 1.47% -1.35% $17M
ALC 3.00% 4.16% -1.17% $409M
AMAT 0.00% 0.88% -0.88% $0
VRTX 1.31% 2.13% -0.82% $179M
NFLX 1.97% 2.76% -0.79% $269M
TW 1.06% 1.76% -0.69% $145M
MSFT 2.61% 3.25% -0.64% $356M
AMZN 2.18% 2.74% -0.56% $297M
SAP 4.51% 5.05% -0.53% $615M
HDB 6.79% 7.31% -0.52% $925M
META 1.90% 2.39% -0.49% $259M
DE 1.09% 1.56% -0.47% $148M
TTD 0.46% 0.87% -0.40% $63M
HLN 1.18% 1.57% -0.39% $161M
CME 1.37% 1.76% -0.39% $187M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 19 $5.6B 41.4%
Large Cap 48 $7.6B 55.5%
Mid Cap 4 $391M 2.9%
Small Cap 1 $34M 0.3%

Portfolio Analytics

Avg Market Cap
$411.5B
Median Market Cap
$102.9B
Avg P/E
27.5
Median P/E
24.6
Avg Dividend Yield
0.02%
Avg Beta
0.84
# Stocks
65
# ETFs / Funds
7

Top Holdings (72 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 TSM 10.58% 5,160,855 $1.4B $279.31 $170M -453,576 -8.1%
2 HDB 6.79% 27,078,614 $925M $34.16 -$160M +12,922,342 +91.3%
3 SAP 4.51% 2,300,337 $615M $267.24 -$135M -165,256 -6.7%
4 FMX 4.15% 5,733,207 $565M $98.62 $9M +324,393 +6.0%
5 MELI 3.66% 213,349 $499M $2,337.25 -$86M -10,331 -4.6%
6 LIN 3.26% 936,014 $445M $474.99 -$396K -12,398 -1.3%
7 BHP 3.20% 7,817,647 $436M $55.75 $54M -114,655 -1.4%
8 BAP 3.02% 1,543,847 $411M $266.27 $58M -33,867 -2.1%
9 ALC 3.00% 5,482,424 $409M $74.51 -$210M -1,524,757 -21.8%
10 NTES 2.84% 2,541,600 $386M $151.99 $39M -41,036 -1.6%
11 GOOGL 2.63% 1,475,171 $359M $243.11 -$50M -841,855 -36.3%
12 MSFT 2.61% 686,547 $356M $517.95 -$127M -283,853 -29.2%
13 RYAAY 2.36% 5,344,152 $322M $60.22 $69M +956,182 +21.8%
14 NICE 2.35% 2,215,335 $321M $144.78 +2,215,335 NEW
15 AMZN 2.18% 1,354,567 $297M $219.57 -$109M -499,804 -26.9%
16 SE 2.05% 1,562,614 $279M $178.74 +1,562,614 NEW
17 NFLX 1.97% 224,123 $269M $1,198.99 -$142M -82,532 -26.9%
18 ASML 1.94% 273,194 $265M $968.56 $43M -3,360 -1.2%
19 META 1.90% 352,919 $259M $734.39 -$96M -128,023 -26.6%
20 SHEL 1.72% 3,270,497 $234M $71.54 $686K -42,182 -1.3%
21 SONY 1.59% 7,536,757 $217M $28.79 -$34M -2,094,243 -21.7%
22 CNI 1.59% 2,297,538 $217M $94.30 -$25M -27,639 -1.2%
23 BKNG 1.50% 37,946 $205M $5,399.27 $3M +3,020 +8.7%
24 CME 1.37% 690,427 $187M $270.19 -$74M -256,381 -27.1%
25 NVDA 1.34% 977,338 $182M $186.58 $21M -42,443 -4.2%
26 VRTX 1.31% 455,988 $179M $391.67 -$138M -255,623 -35.9%
27 PGR 1.25% 691,378 $171M $246.93 $77M +341,824 +97.8%
28 BBVA 1.24% 8,758,673 $169M $19.25 $32M -110,222 -1.2%
29 HLN 1.18% 17,909,401 $161M $8.97 -$73M -4,641,640 -20.6%
30 MFC 1.16% 5,077,216 $158M $31.15 -$38M -1,060,716 -17.3%
31 APH 1.14% 1,251,914 $155M $123.75 $12M -191,563 -13.3%
32 AVGO 1.09% 451,298 $149M $329.92 -$62M -313,687 -41.0%
33 DE 1.09% 324,719 $148M $457.27 -$83M -129,749 -28.6%
34 TW 1.06% 1,303,676 $145M $110.98 -$116M -479,140 -26.9%
35 RIO 0.91% 1,887,696 $125M $66.02 $14M -16,253 -0.8%
36 SNPS 0.87% 240,194 $119M $493.38 -$26M -41,370 -14.7%
37 ACN 0.85% 470,517 $116M $246.61 -$12M +41,129 +9.6%
38 GMAB 0.78% 3,484,487 $107M $30.67 $46M +561,048 +19.2%
39 ADBE 0.78% 301,169 $106M $352.76 -$33M -58,897 -16.4%
40 HEI 0.78% 328,553 $106M $322.82 -$39M -113,597 -25.7%
41 ABBV 0.73% 430,494 $100M $231.54 -$10M -161,894 -27.3%
42 TLK 0.68% 4,925,278 $93M $18.82 $8M -89,824 -1.8%
43 CSGP 0.67% 1,083,322 $91M $84.36 -$27M -383,758 -26.2%
44 NOW 0.65% 96,013 $88M $920.37 -$46M -34,562 -26.5%
45 DHR 0.60% 415,656 $82M $198.28 -$30M -155,178 -27.2%
46 TMO 0.60% 168,576 $82M $485.10 -$11M -60,955 -26.6%
47 AME 0.59% 429,956 $81M $188.00 -$24M -147,967 -25.6%
48 NVS 0.59% 629,958 $81M $128.26 $43M +316,431 +100.9%
49 ANTM 0.58% 246,365 $80M $323.12 +246,365 NEW
50 JNJ 0.58% 424,760 $79M $185.43 -$10M -154,422 -26.7%
51 V 0.51% 203,944 $70M $341.39 -$30M -77,897 -27.6%
52 SLB 0.50% 1,965,908 $68M $34.37 -$10M -339,887 -14.7%
53 NOC 0.47% 105,511 $64M $609.35 -$11M -45,696 -30.2%
54 TTD 0.46% 1,289,848 $63M $49.01 -$66M -501,447 -28.0%
55 VEU 0.44% 840,898 $60M $71.37 $16M +191,560 +29.5%
56 ATKR 0.41% 895,998 $56M $62.74 -$38M -442,164 -33.0%
57 HON 0.41% 265,293 $56M $210.50 -$31M -107,124 -28.8%
58 GLOB 0.25% 597,231 $34M $57.38 -$36M -172,612 -22.4%
59 ZTO 0.13% 892,018 $17M $19.20 -$202M -11,429,767 -92.8%
60 TS 0.11% 408,147 $15M $35.77 -$2M -42,446 -9.4%
61 KSPI 0.09% 154,802 $13M $81.68 -$205K +3,442 +2.3%
62 ITUB 0.09% 1,615,455 $12M $7.34 -$9K -132,233 -7.6%
63 ACWI 0.06% 63,515 $9M $138.25 $7M +49,228 +344.6%
64 INDA 0.06% 157,699 $8M $52.06 -$571K
65 EPAM 0.04% 37,181 $6M $150.79 -$2M -3,357 -8.3%
66 IBN 0.02% 75,629 $2M $30.23 -$286K -849 -1.1%
67 ACWX 0.01% 19,823 $1M $65.01 +19,823 NEW
68 VEA 0.01% 17,814 $1M $59.93 -$277K -5,764 -24.4%
69 EFG 0.01% 7,418 $845K $113.88 +7,418 NEW
70 EFA —% 2,399 $224K $93.38 -$58K -759 -24.0%
71 AMAT —% -$130M -712,217 -100.0% SOLD
72 CRM —% -$49M -179,859 -100.0% SOLD

New Positions

SymbolValue% Port
NICE $321M 2.35%
SE $279M 2.05%
ANTM $80M 0.58%
ACWX $1M 0.01%
EFG $845K 0.01%

Sold Out Positions

SymbolValue% Port
CRM —%
AMAT —%
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