Harding Loevner LP
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Harding Loevner LP reported 67 stock positions worth $17.3 billion. Its top holding was Taiwan Semiconductor-SP ADR (TSM) at 7.5% of the portfolio, followed by HDFC Bank Ltd.-ADR (HDB, 5.9%) and Alcon (ALC, 5.4%). Compared with Q2 2024, it sold out of 3, added to 15 and reduced 52. The biggest buy was HDFC Bank Ltd.-ADR (HDB, shares +82%) and the biggest sale Icici Bank Ltd.-Spon ADR (IBN, shares −99%).
- Most Recent 13F
- Q2 2026
- Location
- Bridgewater, NJ
- CIK
- 0000928196
- Portfolio Value
- $17.3B (Q3 2024)
- SEC Filing
- 0001085146-24-005799 ↗ filed Nov 14, 2024
Holdings Value
Holdings 67 stocks · $17.3B
| TSM Taiwan Semiconductor-SP ADR | 7.47% | 7,452,639 | $1.3B | Reduce -6.1% |
| HDB HDFC Bank Ltd.-ADR | 5.89% | 16,314,429 | $1.0B | Add +82.4% |
| ALC Alcon Inc. filed as ALCON AG | 5.35% | 9,270,977 | $927.7M | Reduce -4.0% |
| SAP Sap SE-Sponsored ADR | 4.35% | 3,293,471 | $754.6M | Reduce -36.1% |
| FMX Fomento Economico Mex-SP ADR | 3.61% | 6,337,905 | $625.6M | Reduce -7.4% |
| META Meta Platforms Inc. Class A | 3.57% | 1,080,752 | $618.7M | Reduce -10.6% |
| MSFT Microsoft Corp. | 3.37% | 1,358,338 | $584.5M | Reduce -2.6% |
| BHP BHP Group Ltd.-Spon ADR | 3.17% | 8,838,948 | $548.9M | Reduce -6.7% |
| AMZN Amazon.com Inc. | 3.13% | 2,913,258 | $542.8M | Reduce -2.7% |
| VRTX Vertex Pharmaceuticals Inc. | 3.09% | 1,152,625 | $536.1M | Reduce -2.7% |
| GOOGL Alphabet Inc. Class A | 3.05% | 3,189,246 | $528.9M | Reduce -2.6% |
| LIN Linde PLC | 2.93% | 1,065,684 | $508.2M | Reduce -5.3% |
| MELI MercadoLibre Inc. | 2.29% | 193,162 | $396.4M | Reduce -9.1% |
| ZTO Zto Express Cayman Inc.-ADR | 2.20% | 15,416,407 | $381.8M | Reduce -6.3% |
| NFLX Netflix Inc. | 2.19% | 536,434 | $380.5M | Reduce -2.7% |
| TMO Thermo Fisher Scientific Inc. | 2.03% | 568,502 | $351.6M | Add +0.5% |
| ABEV Ambev SA-ADR | 1.91% | 135,918,417 | $331.6M | Add +17.8% |
| BAP Credicorp Ltd. | 1.88% | 1,801,241 | $326.0M | Reduce -5.2% |
| CNI Canadian Natl Railway Co. | 1.77% | 2,619,060 | $306.8M | Reduce -4.7% |
| CME Cme Group Inc. | 1.68% | 1,319,163 | $291.1M | Add +17.6% |
| CRM Salesforce Inc. | 1.64% | 1,037,703 | $284.0M | Reduce -1.9% |
| MFC Manulife Financial Corp. | 1.60% | 9,373,675 | $277.0M | Reduce -3.2% |
| HLN Haleon PLC-ADR | 1.52% | 24,888,008 | $263.2M | Reduce -2.8% |
| UNH Unitedhealth Group Inc. | 1.52% | 450,002 | $263.1M | Reduce -2.4% |
| DE Deere & Co. | 1.51% | 629,284 | $262.6M | Reduce -2.9% |
| ACN Accenture PLC Class A | 1.31% | 643,922 | $227.6M | Reduce -4.6% |
| SHEL Shell PLC-ADR | 1.31% | 3,434,768 | $226.6M | Add +7.7% |
| AVGO Broadcom Inc. | 1.29% | 1,294,126 | $223.2M | Reduce -4.6% |
| DHR Danaher Corp. | 1.25% | 776,631 | $215.9M | Reduce -26.6% |
| TW Tradeweb Markets Inc. Class A | 1.24% | 1,743,729 | $215.7M | Reduce -2.5% |
| NOW ServiceNow Inc. | 1.22% | 236,412 | $211.5M | Reduce -2.8% |
| ISRG Intuitive Surgical Inc. | 1.20% | 423,619 | $208.1M | Reduce -2.6% |
| BKNG Booking Holdings Inc. | 1.20% | 49,325 | $207.8M | Add +41.1% |
| SONY Sony Group Corp. - SP ADR | 1.18% | 5,204,934 | $204.3M | Add +165.3% |
| AMAT Applied Materials Inc. | 1.16% | 998,041 | $201.6M | Add +0.4% |
| BBVA Banco Bilbao Vizcaya-SP ADR | 1.16% | 18,533,627 | $200.9M | Reduce -3.5% |
| ROK Rockwell Automation Inc. | 1.15% | 744,413 | $199.8M | Reduce -2.5% |
| PINS Pinterest Inc. Class A | 1.11% | 5,931,953 | $192.0M | Reduce -2.6% |
| AAPL Apple Inc. | 0.98% | 731,140 | $170.3M | Reduce -1.3% |
| ADBE Adobe Inc. | 0.98% | 327,395 | $169.5M | Reduce -2.6% |
| ABBV Abbvie Inc. | 0.95% | 830,980 | $164.1M | Reduce -2.5% |
| RIO Rio Tinto PLC-Spon ADR | 0.88% | 2,144,280 | $152.6M | Reduce -3.9% |
| CSGP Costar Group Inc. | 0.87% | 1,998,238 | $150.7M | Add +28.8% |
| GLOB Globant SA | 0.86% | 751,802 | $149.0M | Reduce -8.8% |
| RGEN Repligen Corp. | 0.79% | 916,142 | $136.3M | Add +44.7% |
| SNPS Synopsys Inc. | 0.72% | 247,657 | $125.4M | Reduce -2.6% |
| NOC Northrop Grumman Corp. | 0.66% | 216,086 | $114.1M | Reduce -1.9% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.65% | 2,671,662 | $112.1M | Reduce -2.6% |
| HON Honeywell International Inc. | 0.63% | 528,736 | $109.3M | Reduce -2.9% |
| TLK Telkom Indonesia Persero-ADR filed as P T TELEKOMUNIKASI INDONESIA | 0.63% | 5,486,698 | $108.5M | Add +44.5% |
| GMAB Genmab A/S -SP ADR | 0.43% | 3,066,942 | $74.7M | Add +10.8% |
| VEU Vanguard Ftse All-World Ex-U | 0.37% | 1,010,600 | $63.7M | Reduce -37.7% |
| ATKR Atkore Inc. | 0.33% | 684,624 | $58.0M | Add +2.9% |
| TS Tenaris SA-ADR | 0.17% | 903,867 | $28.7M | Reduce -39.8% |
| KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC | 0.16% | 262,613 | $27.8M | Reduce -36.1% |
| ITUB Itau Unibanco H-Spon PRF ADR | 0.11% | 2,967,197 | $19.7M | Reduce -41.3% |
| EPAM Epam Systems Inc. | 0.09% | 75,780 | $15.1M | Reduce -39.5% |
| BANCOLOMBIA S.A.-SPONS ADR | 0.07% | 359,397 | $11.3M | Reduce -35.7% |
| INDA iShares MSCI India ETF | 0.05% | 140,139 | $8.2M | Add +3.9% |
| NBIS Nebius Group NV | 0.03% | 480,240 | $5.4M | Reduce -3.4% |
| BABA Alibaba Group Holding-SP ADR | 0.03% | 50,258 | $5.3M | Reduce -12.5% |
| ACWI iShares MSCI Acwi ETF | 0.02% | 33,202 | $4.0M | Reduce -51.4% |
| IBN Icici Bank Ltd.-Spon ADR | 0.02% | 122,996 | $3.7M | Reduce -99.1% |
| XP XP Inc. Class A | 0.02% | 148,706 | $2.7M | Reduce -99.0% |
| VEA Vanguard Ftse Developed ETF | 0.01% | 40,221 | $2.1M | Add +63.5% |
| BNTX Biontech SE-ADR | 0.00% | 2,325 | $276K | Reduce -99.9% |
| EFA iShares MSCI Eafe ETF | 0.00% | 2,509 | $210K | Reduce -72.9% |
Portfolio Sells Q2 2024 → Q3 2024
| IBN Icici Bank Ltd.-Spon ADR | Reduce -99.1% | 0.02% | −2.17 |
| SAP Sap SE-Sponsored ADR | Reduce -36.1% | 4.35% | −1.39 |
| XP XP Inc. Class A | Reduce -99.0% | 0.02% | −1.36 |
| BNTX Biontech SE-ADR | Reduce -99.9% | 0.00% | −1.30 |
| COST Costco Wholesale Corp. | Sold out | 0.00% | −0.81 |
| ASML ASML Holding NV-NY Reg SHS | Sold out | 0.00% | −0.71 |
| FMX Fomento Economico Mex-SP ADR | Reduce -7.4% | 3.61% | −0.46 |
| PINS Pinterest Inc. Class A | Reduce -2.6% | 1.11% | −0.37 |
| GOOGL Alphabet Inc. Class A | Reduce -2.6% | 3.05% | −0.24 |
| DHR Danaher Corp. | Reduce -26.6% | 1.25% | −0.21 |
| VEU Vanguard Ftse All-World Ex-U | Reduce -37.7% | 0.37% | −0.16 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -6.1% | 7.47% | −0.14 |
| KSPI JSC Kaspi.kz ADR | Reduce -36.1% | 0.16% | −0.13 |
| SNPS Synopsys Inc. | Reduce -2.6% | 0.72% | −0.11 |
| TS Tenaris SA-ADR | Reduce -39.8% | 0.17% | −0.09 |
| MSFT Microsoft Corp. | Reduce -2.6% | 3.37% | −0.07 |
| SLB SLB Ltd. | Reduce -2.6% | 0.65% | −0.07 |
| AMZN Amazon.com Inc. | Reduce -2.7% | 3.13% | −0.06 |
| ADBE Adobe Inc. | Reduce -2.6% | 0.98% | −0.05 |
| ITUB Itau Unibanco H-Spon PRF ADR | Reduce -41.3% | 0.11% | −0.05 |
| EPAM Epam Systems Inc. | Reduce -39.5% | 0.09% | −0.04 |
| BANCOLOMBIA S.A.-SPONS ADR | Reduce -35.7% | 0.07% | −0.04 |
| CNI Canadian Natl Railway Co. | Reduce -4.7% | 1.77% | −0.02 |
| ACWI iShares MSCI Acwi ETF | Reduce -51.4% | 0.02% | −0.02 |
| NKE Nike Inc. Class B | Sold out | 0.00% | −0.01 |
| HON Honeywell International Inc. | Reduce -2.9% | 0.63% | −0.01 |
| ROK Rockwell Automation Inc. | Reduce -2.5% | 1.15% | −0.01 |
| EFA iShares MSCI Eafe ETF | Reduce -72.9% | 0.00% | −0.00 |
| BABA Alibaba Group Holding-SP ADR | Reduce -12.5% | 0.03% | +0.01 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -2.7% | 3.09% | +0.03 |
| NBIS Nebius Group NV | Reduce -3.4% | 0.03% | +0.03 |
| GLOB Globant SA | Reduce -8.8% | 0.86% | +0.05 |
| RIO Rio Tinto PLC-Spon ADR | Reduce -3.9% | 0.88% | +0.07 |
| BBVA Banco Bilbao Vizcaya-SP ADR | Reduce -3.5% | 1.16% | +0.10 |
| AVGO Broadcom Inc. | Reduce -4.6% | 1.29% | +0.11 |
| AAPL Apple Inc. | Reduce -1.3% | 0.98% | +0.12 |
| NOC Northrop Grumman Corp. | Reduce -1.9% | 0.66% | +0.13 |
| ISRG Intuitive Surgical Inc. | Reduce -2.6% | 1.20% | +0.13 |
| CRM Salesforce Inc. | Reduce -1.9% | 1.64% | +0.14 |
| ABBV Abbvie Inc. | Reduce -2.5% | 0.95% | +0.14 |
| NFLX Netflix Inc. | Reduce -2.7% | 2.19% | +0.14 |
| NOW ServiceNow Inc. | Reduce -2.8% | 1.22% | +0.16 |
| MFC Manulife Financial Corp. | Reduce -3.2% | 1.60% | +0.17 |
| DE Deere & Co. | Reduce -2.9% | 1.51% | +0.18 |
| BHP BHP Group Ltd.-Spon ADR | Reduce -6.7% | 3.17% | +0.18 |
| ACN Accenture PLC Class A | Reduce -4.6% | 1.31% | +0.18 |
| BAP Credicorp Ltd. | Reduce -5.2% | 1.88% | +0.19 |
| TW Tradeweb Markets Inc. Class A | Reduce -2.5% | 1.24% | +0.20 |
| META Meta Platforms Inc. Class A | Reduce -10.6% | 3.57% | +0.20 |
| LIN Linde PLC | Reduce -5.3% | 2.93% | +0.21 |
Portfolio Buys Q2 2024 → Q3 2024
| HDB HDFC Bank Ltd.-ADR | Add +82.4% | 5.89% | +2.71 |
| ABEV Ambev SA-ADR | Add +17.8% | 1.91% | +0.61 |
| CME Cme Group Inc. | Add +17.6% | 1.68% | +0.46 |
| BKNG Booking Holdings Inc. | Add +41.1% | 1.20% | +0.43 |
| RGEN Repligen Corp. | Add +44.7% | 0.79% | +0.35 |
| TMO Thermo Fisher Scientific Inc. | Add +0.5% | 2.03% | +0.30 |
| SONY Sony Group Corp. - SP ADR | Add +165.3% | 1.18% | +0.26 |
| CSGP Costar Group Inc. | Add +28.8% | 0.87% | +0.23 |
| TLK Telkom Indonesia Persero-ADR | Add +44.5% | 0.63% | +0.23 |
| GMAB Genmab A/S -SP ADR | Add +10.8% | 0.43% | +0.05 |
| SHEL Shell PLC-ADR | Add +7.7% | 1.31% | +0.04 |
| INDA iShares MSCI India ETF | Add +3.9% | 0.05% | +0.01 |
| VEA Vanguard Ftse Developed ETF | Add +63.5% | 0.01% | +0.01 |
| AMAT Applied Materials Inc. | Add +0.4% | 1.16% | −0.13 |
| ATKR Atkore Inc. | Add +2.9% | 0.33% | −0.16 |
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 |