Harding Loevner LP
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 14, 2024), Harding Loevner LP reported 70 stock positions worth $18.1 billion. Its top holding was Taiwan Semiconductor-SP ADR (TSM) at 7.6% of the portfolio, followed by Sap SE-Sponsored ADR (SAP, 5.7%) and Alcon (ALC, 4.7%). Compared with Q1 2024, it opened 2 new positions, sold out of 1, added to 23 and reduced 45. The biggest buy was Taiwan Semiconductor-SP ADR (TSM, shares +14%) and the biggest sale an exit from Ametek (AME).
- Most Recent 13F
- Q2 2026
- Location
- Bridgewater, NJ
- CIK
- 0000928196
- Portfolio Value
- $18.1B (Q2 2024)
- SEC Filing
- 0001085146-24-003873 ↗ filed Aug 14, 2024
Holdings Value
Holdings 70 stocks · $18.1B
| TSM Taiwan Semiconductor-SP ADR | 7.61% | 7,935,154 | $1.4B | Add +14.1% |
| SAP Sap SE-Sponsored ADR | 5.74% | 5,158,382 | $1.0B | Add +33.6% |
| ALC Alcon Inc. filed as ALCON AG | 4.75% | 9,660,330 | $860.6M | Add +15.1% |
| FMX Fomento Economico Mex-SP ADR | 4.06% | 6,841,444 | $736.5M | Add +31.8% |
| MSFT Microsoft Corp. | 3.44% | 1,394,977 | $623.5M | Reduce -3.2% |
| META Meta Platforms Inc. Class A | 3.36% | 1,209,002 | $609.6M | Add +0.7% |
| GOOGL Alphabet Inc. Class A | 3.29% | 3,275,526 | $596.6M | Reduce -3.2% |
| AMZN Amazon.com Inc. | 3.19% | 2,994,208 | $578.6M | Add +9.4% |
| HDB HDFC Bank Ltd.-ADR | 3.18% | 8,945,517 | $575.4M | Reduce -3.0% |
| VRTX Vertex Pharmaceuticals Inc. | 3.06% | 1,184,408 | $555.2M | Reduce -3.2% |
| BHP BHP Group Ltd.-Spon ADR | 2.98% | 9,470,895 | $540.7M | Add +26.7% |
| LIN Linde PLC | 2.73% | 1,125,467 | $493.9M | Add +27.2% |
| IBN Icici Bank Ltd.-Spon ADR | 2.19% | 13,802,686 | $397.7M | Reduce -2.7% |
| NFLX Netflix Inc. | 2.05% | 551,126 | $371.9M | Reduce -4.6% |
| MELI MercadoLibre Inc. | 1.93% | 212,520 | $349.3M | Reduce -5.2% |
| ZTO Zto Express Cayman Inc.-ADR | 1.89% | 16,462,134 | $341.5M | Add +42.7% |
| CNI Canadian Natl Railway Co. | 1.79% | 2,749,389 | $324.8M | Reduce -2.9% |
| TMO Thermo Fisher Scientific Inc. | 1.73% | 565,760 | $312.9M | Reduce -3.3% |
| BAP Credicorp Ltd. | 1.69% | 1,899,741 | $306.5M | Reduce -2.8% |
| CRM Salesforce Inc. | 1.50% | 1,057,383 | $271.9M | Add +21.1% |
| PINS Pinterest Inc. Class A | 1.48% | 6,088,268 | $268.3M | Reduce -3.9% |
| DHR Danaher Corp. | 1.46% | 1,057,721 | $264.3M | Reduce -3.1% |
| MFC Manulife Financial Corp. | 1.42% | 9,687,824 | $257.9M | Add +641.7% |
| XP XP Inc. Class A | 1.37% | 14,162,007 | $249.1M | Add +13.7% |
| DE Deere & Co. | 1.34% | 647,730 | $242.0M | Reduce -22.4% |
| ABEV Ambev SA-ADR | 1.30% | 115,337,809 | $236.4M | Add +8.6% |
| BNTX Biontech SE-ADR | 1.30% | 2,926,761 | $235.2M | Reduce -23.4% |
| UNH Unitedhealth Group Inc. | 1.30% | 461,012 | $234.8M | Reduce -3.2% |
| AMAT Applied Materials Inc. | 1.29% | 993,729 | $234.5M | Reduce -3.0% |
| SHEL Shell PLC-ADR | 1.27% | 3,190,784 | $230.3M | Add +833.8% |
| CME Cme Group Inc. | 1.22% | 1,122,113 | $220.6M | Reduce -3.2% |
| AVGO Broadcom Inc. | 1.18% | 135,665 | $213.1M | Reduce -1.2% |
| HLN Haleon PLC-ADR | 1.17% | 25,614,627 | $211.7M | Add +780.9% |
| ROK Rockwell Automation Inc. | 1.16% | 763,573 | $210.2M | Reduce -1.3% |
| ACN Accenture PLC Class A | 1.13% | 675,007 | $204.8M | Reduce -1.1% |
| ISRG Intuitive Surgical Inc. | 1.07% | 434,775 | $193.4M | Reduce -3.1% |
| BBVA Banco Bilbao Vizcaya-SP ADR | 1.06% | 19,197,219 | $192.6M | Add +654.0% |
| NOW ServiceNow Inc. | 1.06% | 243,167 | $191.3M | Reduce -3.0% |
| TW Tradeweb Markets Inc. Class A | 1.05% | 1,788,287 | $189.6M | Reduce -3.1% |
| ADBE Adobe Inc. | 1.03% | 336,221 | $186.8M | Reduce -3.0% |
| SONY Sony Group Corp. - SP ADR | 0.92% | 1,962,057 | $166.7M | Add +603.4% |
| AAPL Apple Inc. | 0.86% | 740,961 | $156.1M | Reduce -19.4% |
| SNPS Synopsys Inc. | 0.83% | 254,206 | $151.3M | Reduce -3.1% |
| RIO Rio Tinto PLC-Spon ADR | 0.81% | 2,231,860 | $147.1M | Add +670.5% |
| GLOB Globant SA | 0.81% | 824,061 | $146.9M | Reduce -8.8% |
| COST Costco Wholesale Corp. | 0.81% | 172,488 | $146.6M | Reduce -4.4% |
| ABBV Abbvie Inc. | 0.81% | 852,023 | $146.1M | Reduce -3.0% |
| BKNG Booking Holdings Inc. | 0.76% | 34,966 | $138.5M | Reduce -3.0% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.71% | 2,744,407 | $129.5M | Reduce -8.9% |
| ASML ASML Holding NV-NY Reg SHS | 0.71% | 126,591 | $129.5M | Reduce -3.0% |
| HON Honeywell International Inc. | 0.64% | 544,593 | $116.3M | Add +0.0% |
| CSGP Costar Group Inc. | 0.63% | 1,551,127 | $115.0M | Reduce -3.1% |
| NOC Northrop Grumman Corp. | 0.53% | 220,329 | $96.1M | Add +9.1% |
| VEU Vanguard Ftse All-World Ex-U | 0.52% | 1,621,496 | $95.1M | Add +164.1% |
| ATKR Atkore Inc. | 0.50% | 665,559 | $89.8M | New |
| RGEN Repligen Corp. | 0.44% | 632,979 | $79.8M | Reduce -4.0% |
| TLK Telkom Indonesia Persero-ADR filed as P T TELEKOMUNIKASI INDONESIA | 0.39% | 3,797,056 | $71.0M | Reduce -13.3% |
| GMAB Genmab A/S -SP ADR | 0.38% | 2,767,805 | $69.6M | Reduce -16.0% |
| KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC | 0.29% | 411,231 | $53.1M | Reduce -17.8% |
| TS Tenaris SA-ADR | 0.25% | 1,501,595 | $45.8M | Reduce -16.7% |
| ITUB Itau Unibanco H-Spon PRF ADR | 0.16% | 5,057,052 | $29.5M | Reduce -15.0% |
| EPAM Epam Systems Inc. | 0.13% | 125,252 | $23.6M | Reduce -28.8% |
| BANCOLOMBIA S.A.-SPONS ADR | 0.10% | 558,970 | $18.3M | Reduce -15.1% |
| ACWI iShares MSCI Acwi ETF | 0.04% | 68,331 | $7.7M | Add +61.9% |
| INDA iShares MSCI India ETF | 0.04% | 134,884 | $7.5M | Reduce -6.7% |
| BABA Alibaba Group Holding-SP ADR | 0.02% | 57,456 | $4.1M | Reduce -44.9% |
| NKE Nike Inc. Class B | 0.01% | 31,990 | $2.4M | Reduce -96.6% |
| VEA Vanguard Ftse Developed ETF | 0.01% | 24,597 | $1.2M | Add +74.2% |
| EFA iShares MSCI Eafe ETF | 0.00% | 9,255 | $725K | New |
| NBIS Nebius Group NV filed as YANDEX N V | 0.00% | 497,284 | $260K | Reduce -3.0% |
Portfolio Sells Q1 2024 → Q2 2024
| AME Ametek Inc. | Sold out | 0.00% | −1.07 |
| BNTX Biontech SE-ADR | Reduce -23.4% | 1.30% | −0.88 |
| DE Deere & Co. | Reduce -22.4% | 1.34% | −0.78 |
| NKE Nike Inc. Class B | Reduce -96.6% | 0.01% | −0.53 |
| CNI Canadian Natl Railway Co. | Reduce -2.9% | 1.79% | −0.51 |
| TMO Thermo Fisher Scientific Inc. | Reduce -3.3% | 1.73% | −0.37 |
| BAP Credicorp Ltd. | Reduce -2.8% | 1.69% | −0.35 |
| ACN Accenture PLC Class A | Reduce -1.1% | 1.13% | −0.33 |
| CME Cme Group Inc. | Reduce -3.2% | 1.22% | −0.32 |
| CSGP Costar Group Inc. | Reduce -3.1% | 0.63% | −0.32 |
| GLOB Globant SA | Reduce -8.8% | 0.81% | −0.32 |
| RGEN Repligen Corp. | Reduce -4.0% | 0.44% | −0.31 |
| SLB SLB Ltd. | Reduce -8.9% | 0.71% | −0.30 |
| MSFT Microsoft Corp. | Reduce -3.2% | 3.44% | −0.30 |
| ROK Rockwell Automation Inc. | Reduce -1.3% | 1.16% | −0.23 |
| GMAB Genmab A/S -SP ADR | Reduce -16.0% | 0.38% | −0.22 |
| DHR Danaher Corp. | Reduce -3.1% | 1.46% | −0.22 |
| TLK Telkom Indonesia Persero-ADR | Reduce -13.3% | 0.39% | −0.21 |
| TS Tenaris SA-ADR | Reduce -16.7% | 0.25% | −0.18 |
| ABBV Abbvie Inc. | Reduce -3.0% | 0.81% | −0.18 |
| EPAM Epam Systems Inc. | Reduce -28.8% | 0.13% | −0.17 |
| MELI MercadoLibre Inc. | Reduce -5.2% | 1.93% | −0.16 |
| UNH Unitedhealth Group Inc. | Reduce -3.2% | 1.30% | −0.16 |
| TW Tradeweb Markets Inc. Class A | Reduce -3.1% | 1.05% | −0.14 |
| NOW ServiceNow Inc. | Reduce -3.0% | 1.06% | −0.12 |
| IBN Icici Bank Ltd.-Spon ADR | Reduce -2.7% | 2.19% | −0.12 |
| NFLX Netflix Inc. | Reduce -4.6% | 2.05% | −0.11 |
| AAPL Apple Inc. | Reduce -19.4% | 0.86% | −0.11 |
| KSPI JSC Kaspi.kz ADR | Reduce -17.8% | 0.29% | −0.10 |
| ITUB Itau Unibanco H-Spon PRF ADR | Reduce -15.0% | 0.16% | −0.09 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -3.2% | 3.06% | −0.09 |
| SNPS Synopsys Inc. | Reduce -3.1% | 0.83% | −0.09 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -3.0% | 0.71% | −0.07 |
| ADBE Adobe Inc. | Reduce -3.0% | 1.03% | −0.05 |
| BKNG Booking Holdings Inc. | Reduce -3.0% | 0.76% | −0.04 |
| BANCOLOMBIA S.A.-SPONS ADR | Reduce -15.1% | 0.10% | −0.04 |
| ISRG Intuitive Surgical Inc. | Reduce -3.1% | 1.07% | −0.04 |
| BABA Alibaba Group Holding-SP ADR | Reduce -44.9% | 0.02% | −0.02 |
| AMAT Applied Materials Inc. | Reduce -3.0% | 1.29% | −0.01 |
| HDB HDFC Bank Ltd.-ADR | Reduce -3.0% | 3.18% | −0.01 |
| COST Costco Wholesale Corp. | Reduce -4.4% | 0.81% | −0.01 |
| INDA iShares MSCI India ETF | Reduce -6.7% | 0.04% | −0.00 |
| NBIS Nebius Group NV | Reduce -3.0% | 0.00% | −0.00 |
| AVGO Broadcom Inc. | Reduce -1.2% | 1.18% | +0.05 |
| PINS Pinterest Inc. Class A | Reduce -3.9% | 1.48% | +0.13 |
| GOOGL Alphabet Inc. Class A | Reduce -3.2% | 3.29% | +0.14 |
Portfolio Buys Q1 2024 → Q2 2024
| TSM Taiwan Semiconductor-SP ADR | Add +14.1% | 7.61% | +1.77 |
| MFC Manulife Financial Corp. | Add +641.7% | 1.42% | +1.22 |
| SHEL Shell PLC-ADR | Add +833.8% | 1.27% | +1.13 |
| SAP Sap SE-Sponsored ADR | Add +33.6% | 5.74% | +1.10 |
| HLN Haleon PLC-ADR | Add +780.9% | 1.17% | +1.02 |
| BBVA Banco Bilbao Vizcaya-SP ADR | Add +654.0% | 1.06% | +0.88 |
| SONY Sony Group Corp. - SP ADR | Add +603.4% | 0.92% | +0.77 |
| RIO Rio Tinto PLC-Spon ADR | Add +670.5% | 0.81% | +0.70 |
| ATKR Atkore Inc. | New | 0.50% | +0.50 |
| ALC Alcon Inc. | Add +15.1% | 4.75% | +0.43 |
| ZTO Zto Express Cayman Inc.-ADR | Add +42.7% | 1.89% | +0.39 |
| BHP BHP Group Ltd.-Spon ADR | Add +26.7% | 2.98% | +0.32 |
| VEU Vanguard Ftse All-World Ex-U | Add +164.1% | 0.52% | +0.30 |
| LIN Linde PLC | Add +27.2% | 2.73% | +0.19 |
| AMZN Amazon.com Inc. | Add +9.4% | 3.19% | +0.15 |
| ACWI iShares MSCI Acwi ETF | Add +61.9% | 0.04% | +0.01 |
| EFA iShares MSCI Eafe ETF | New | 0.00% | +0.00 |
| VEA Vanguard Ftse Developed ETF | Add +74.2% | 0.01% | +0.00 |
| HON Honeywell International Inc. | Add +0.0% | 0.64% | −0.05 |
| NOC Northrop Grumman Corp. | Add +9.1% | 0.53% | −0.07 |
| FMX Fomento Economico Mex-SP ADR | Add +31.8% | 4.06% | −0.11 |
| CRM Salesforce Inc. | Add +21.1% | 1.50% | −0.12 |
| META Meta Platforms Inc. Class A | Add +0.7% | 3.36% | −0.23 |
| ABEV Ambev SA-ADR | Add +8.6% | 1.30% | −0.32 |
| XP XP Inc. Class A | Add +13.7% | 1.37% | −0.60 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 82 | $10.6B | TSM, SPOT, FMX, CNI, BAP |
| Q1 2026 | 73 | $9.7B | TSM, FMX, BAP, HDB, RYAAY |
| Q4 2025 | 76 | $11.4B | TSM, HDB, FMX, BAP, MELI |
| Q3 2025 | 71 | $13.6B | TSM, HDB, SAP, FMX, MELI |
| Q2 2025 | 68 | $14.9B | TSM, HDB, SAP, ALC, MELI |
| Q1 2025 | 67 | $13.1B | HDB, TSM, ALC, SAP, FMX |
| Q4 2024 | 67 | $14.8B | TSM, HDB, ALC, SAP, META |
| Q3 2024 | 67 | $17.3B | TSM, HDB, ALC, SAP, FMX |
| Q2 2024 | 70 | $18.1B | TSM, SAP, ALC, FMX, MSFT |
| Q1 2024 | 69 | $16.2B | TSM, SAP, ALC, FMX, MSFT |