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Harding Loevner LP

Q4 2025 · Filed 2026-02-17
Market Value
$11.4B
-16.6%
Holdings
78
+6
New Purchases
8
Added To
14
Closed
3
Reduced
53
Top 10 Concentration
47.2%
Turnover
14.1%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
HDB 8.10% 6.79% +1.31% $920M
FMX 5.28% 4.15% +1.13% $600M
TSM 11.61% 10.58% +1.03% $1.3B
ASML 2.85% 1.94% +0.90% $323M
VEU 1.24% 0.44% +0.80% $141M
RYAAY 3.16% 2.36% +0.79% $359M
EFX 0.61% 0.00% +0.61% $70M
BAP 3.59% 3.02% +0.58% $408M
FN 0.56% 0.00% +0.56% $64M
RIO 1.45% 0.91% +0.53% $164M
MFC 1.51% 1.16% +0.35% $172M
HON 0.75% 0.41% +0.34% $85M
ALC 3.34% 3.00% +0.34% $379M
HLN 1.48% 1.18% +0.30% $168M
CNI 1.87% 1.59% +0.28% $212M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
SAP 0.83% 4.51% -3.68% $94M
LIN 0.04% 3.26% -3.23% $4M
BHP 0.04% 3.20% -3.16% $4M
SNPS 0.00% 0.87% -0.87% $0
NOW 0.00% 0.65% -0.65% $0
DE 0.58% 1.09% -0.51% $66M
NFLX 1.59% 1.97% -0.38% $180M
SE 1.68% 2.05% -0.37% $191M
GLOB 0.06% 0.25% -0.19% $7M
MELI 3.49% 3.66% -0.17% $396M
CSGP 0.54% 0.67% -0.13% $62M
ZTO 0.00% 0.13% -0.13% $0
TTD 0.37% 0.46% -0.10% $42M
META 1.81% 1.90% -0.09% $205M
PGR 1.18% 1.25% -0.08% $134M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 20 $3.9B 34.0%
Large Cap 52 $7.1B 62.7%
Mid Cap 5 $367M 3.2%
Small Cap 1 $7M 0.1%

Portfolio Analytics

Avg Market Cap
$388.2B
Median Market Cap
$92.4B
Avg P/E
28.2
Median P/E
24.7
Avg Dividend Yield
0.02%
Avg Beta
0.87
# Stocks
66
# ETFs / Funds
12

Top Holdings (78 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 TSM 11.61% 4,336,799 $1.3B $303.93 -$123M -824,056 -16.0%
2 HDB 8.10% 25,187,687 $920M $36.54 -$5M -1,890,927 -7.0%
3 FMX 5.28% 5,934,259 $600M $101.07 $34M +201,052 +3.5%
4 BAP 3.59% 1,421,564 $408M $287.04 -$3M -122,283 -7.9%
5 MELI 3.49% 196,516 $396M $2,015.00 -$103M -16,833 -7.9%
6 ALC 3.34% 4,810,865 $379M $78.81 -$29M -671,559 -12.2%
7 RYAAY 3.16% 4,966,655 $359M $72.19 $37M -377,497 -7.1%
8 NTES 3.00% 2,476,401 $341M $137.64 -$45M -65,199 -2.6%
9 ASML 2.85% 301,762 $323M $1,071.02 $59M +28,568 +10.5%
10 GOOGL 2.77% 1,005,928 $315M $313.02 -$44M -469,243 -31.8%
11 NICE 2.57% 2,580,589 $292M $113.05 -$29M +365,254 +16.5%
12 MSFT 2.55% 598,366 $289M $483.62 -$66M -88,181 -12.8%
13 AMZN 2.37% 1,163,957 $269M $230.83 -$29M -190,610 -14.1%
14 SHEL 1.96% 3,029,364 $223M $73.47 -$11M -241,133 -7.4%
15 CNI 1.87% 2,143,651 $212M $98.85 -$5M -153,887 -6.7%
16 META 1.81% 311,238 $205M $660.09 -$54M -41,681 -11.8%
17 SE 1.68% 1,498,337 $191M $127.58 -$88M -64,277 -4.1%
18 NFLX 1.59% 1,924,053 $180M $93.76 -$88M +1,699,930 +758.5%
19 SONY 1.59% 7,042,473 $180M $25.60 -$37M -494,284 -6.6%
20 VRTX 1.56% 391,865 $178M $453.37 -$937K -64,123 -14.1%
21 BKNG 1.53% 32,409 $174M $5,355.33 -$31M -5,537 -14.6%
22 MFC 1.51% 4,727,041 $172M $36.28 $13M -350,175 -6.9%
23 HLN 1.48% 16,615,687 $168M $10.11 $7M -1,293,714 -7.2%
24 RIO 1.45% 2,053,870 $164M $80.05 $40M +166,174 +8.8%
25 BBVA 1.43% 6,962,519 $162M $23.31 -$6M -1,796,154 -20.5%
26 CME 1.43% 593,278 $162M $273.08 -$25M -97,149 -14.1%
27 NVDA 1.41% 859,326 $160M $186.50 -$22M -118,012 -12.1%
28 VEU 1.24% 1,918,731 $141M $73.56 $81M +1,077,833 +128.2%
29 AVGO 1.20% 393,763 $136M $346.11 -$13M -57,535 -12.8%
30 PGR 1.18% 587,141 $134M $227.71 -$37M -104,237 -15.1%
31 APH 1.14% 954,359 $129M $135.15 -$26M -297,555 -23.8%
32 TW 1.06% 1,121,185 $121M $107.54 -$24M -182,491 -14.0%
33 ADBE 1.01% 328,484 $115M $349.98 $9M +27,315 +9.1%
34 ACN 0.97% 409,515 $110M $268.31 -$6M -61,002 -13.0%
35 GMAB 0.91% 3,370,143 $104M $30.82 -$3M -114,344 -3.3%
36 TLK 0.83% 4,476,641 $94M $21.05 $2M -448,637 -9.1%
37 SAP 0.83% 386,893 $94M $242.92 -$521M -1,913,444 -83.2%
38 HEI 0.81% 284,395 $92M $323.62 -$14M -44,158 -13.4%
39 AME 0.76% 421,690 $87M $205.32 $6M -8,266 -1.9%
40 HON 0.75% 438,098 $85M $195.11 $30M +172,805 +65.1%
41 ABBV 0.75% 370,833 $85M $228.49 -$15M -59,661 -13.9%
42 TMO 0.74% 145,025 $84M $579.51 $2M -23,551 -14.0%
43 V 0.74% 239,587 $84M $350.71 $14M +35,643 +17.5%
44 NVS 0.73% 603,387 $83M $137.90 $2M -26,571 -4.2%
45 DHR 0.73% 360,923 $83M $228.93 $211K -54,733 -13.2%
46 ANTM 0.68% 220,725 $77M $350.58 -$2M -25,640 -10.4%
47 JNJ 0.67% 365,029 $76M $206.96 -$3M -59,731 -14.1%
48 SLB 0.63% 1,850,343 $71M $38.39 $3M -115,565 -5.9%
49 EFX 0.61% 321,343 $70M $216.98 +321,343 NEW
50 DE 0.58% 142,343 $66M $465.61 -$82M -182,376 -56.2%
51 FN 0.56% 139,687 $64M $455.31 +139,687 NEW
52 CSGP 0.54% 920,272 $62M $67.23 -$30M -163,050 -15.1%
53 NOC 0.45% 89,814 $51M $570.31 -$13M -15,697 -14.9%
54 ATKR 0.41% 732,753 $46M $63.25 -$10M -163,245 -18.2%
55 TTD 0.37% 1,098,217 $42M $37.96 -$22M -191,631 -14.9%
56 ACWX 0.17% 283,184 $19M $67.13 $18M +263,361 +1328.6%
57 INDA 0.12% 253,039 $14M $54.05 $5M +95,340 +60.5%
58 TS 0.11% 311,282 $12M $38.45 -$3M -96,865 -23.7%
59 VEA 0.09% 168,181 $11M $62.47 $9M +150,367 +844.1%
60 KSPI 0.08% 123,009 $10M $78.13 -$3M -31,793 -20.5%
61 ITUB 0.08% 1,307,297 $9M $7.16 -$2M -308,158 -19.1%
62 IBN 0.08% 299,318 $9M $29.80 $7M +223,689 +295.8%
63 EWT 0.08% 139,760 $9M $63.53 +139,760 NEW
64 ACWI 0.07% 55,069 $8M $141.50 -$989K -8,446 -13.3%
65 GLOB 0.06% 105,261 $7M $65.37 -$27M -491,970 -82.4%
66 EPAM 0.06% 30,611 $6M $204.88 $665K -6,570 -17.7%
67 EEM 0.04% 83,350 $5M $54.71 +83,350 NEW
68 BHP 0.04% 70,086 $4M $60.37 -$432M -7,747,561 -99.1%
69 LIN 0.04% 9,786 $4M $426.50 -$440M -926,228 -99.0%
70 EFA 0.02% 19,020 $2M $96.04 $2M +16,621 +692.8%
71 EWY 0.01% 14,060 $1M $97.22 +14,060 NEW
72 VXUS 0.01% 16,692 $1M $75.44 +16,692 NEW
73 VT —% 3,728 $526K $141.07 +3,728 NEW
74 AMAT —% 809 $208K $257.04 +809 NEW
75 EFG —% 1,794 $204K $113.92 -$640K -5,624 -75.8%
76 SNPS —% -$119M -240,194 -100.0% SOLD
77 ZTO —% -$17M -892,018 -100.0% SOLD
78 NOW —% -$88M -96,013 -100.0% SOLD

New Positions

SymbolValue% Port
EFX $70M 0.61%
FN $64M 0.56%
EWT $9M 0.08%
EEM $5M 0.04%
EWY $1M 0.01%
VXUS $1M 0.01%
VT $526K —%
AMAT $208K —%

Sold Out Positions

SymbolValue% Port
NOW —%
ZTO —%
SNPS —%
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