Mondrian Investment Partners LTD
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 29, 2026), Mondrian Investment Partners LTD reported 103 stock positions worth $6.7 billion. Its top holding was Yum China (YUMC) at 13.6% of the portfolio, followed by GSK PLC-Spon ADR (GSK, 4.1%) and Lloyds Banking Group PLC-ADR (LYG, 3.9%). Compared with Q4 2025, it opened 6 new positions, sold out of 5, added to 43 and reduced 46. The biggest buy was Workday Class A (WDAY, shares +566%) and the biggest sale Taiwan Semiconductor-SP ADR (TSM, shares −77%).
- Most Recent 13F
- Q2 2026
- Location
- LONDON, X0
- CIK
- 0001317724
- Portfolio Value
- $6.7B (Q1 2026)
- SEC Filing
- 0001317724-26-000007 ↗ filed Apr 29, 2026
Holdings Value
Holdings 103 stocks · $6.7B
| YUMC Yum China Holdings Inc. | 13.59% | 2,357,499 | $908.6M | Reduce -70.0% |
| GSK GSK PLC-Spon ADR | 4.12% | 4,987,393 | $275.3M | Reduce -14.1% |
| LYG Lloyds Banking Group PLC-ADR | 3.90% | 51,869,580 | $260.9M | Reduce -7.3% |
| SAN Banco Santander SA-Spon ADR | 3.77% | 22,332,642 | $251.9M | Reduce -9.3% |
| SONY Sony Group Corp. - SP ADR | 3.76% | 11,975,861 | $251.5M | Add +37.9% |
| SNY Sanofi-ADR | 3.63% | 5,040,065 | $242.8M | Add +12.1% |
| PBR Petroleo Brasileiro-Spon ADR | 3.45% | 11,104,808 | $230.4M | Reduce -12.3% |
| BTI British American Tob-SP ADR | 3.24% | 3,708,963 | $216.9M | Reduce -1.0% |
| BP BP PLC-Spons ADR | 3.23% | 4,599,385 | $216.2M | Reduce -0.8% |
| PHG Koninklijke Philips NVR- NY | 3.20% | 7,797,122 | $213.6M | Reduce -1.2% |
| MRK Merck & Co. Inc. | 2.85% | 1,581,527 | $190.2M | Reduce -1.8% |
| GOOGL Alphabet Inc. Class A | 2.52% | 586,967 | $168.8M | Reduce -8.3% |
| SCHW Schwab (charles) Corp. | 2.41% | 1,717,378 | $161.4M | Reduce -1.6% |
| VALE Vale SA-SP ADR | 2.37% | 9,968,420 | $158.6M | Reduce -12.7% |
| TMO Thermo Fisher Scientific Inc. | 2.35% | 319,001 | $156.8M | Add +7.1% |
| MSFT Microsoft Corp. | 2.31% | 416,425 | $154.1M | Add +48.6% |
| SHEL Shell PLC-ADR | 2.24% | 1,610,398 | $149.8M | Reduce -0.3% |
| TXN Texas Instruments Inc. | 2.22% | 765,085 | $148.5M | Reduce -8.8% |
| SYY Sysco Corp. | 1.95% | 1,825,514 | $130.2M | Reduce -1.4% |
| PLD Prologis Inc. | 1.87% | 943,612 | $124.7M | Reduce -1.6% |
| CRM Salesforce Inc. | 1.69% | 605,650 | $113.1M | Add +9.1% |
| DLTR Dollar Tree Inc. | 1.66% | 1,014,669 | $111.1M | Reduce -4.0% |
| XOM Exxon Mobil Corp. | 1.64% | 647,827 | $109.9M | Reduce -2.0% |
| DD Dupont DE Nemours Inc. | 1.62% | 2,362,377 | $108.2M | Reduce -15.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.56% | 2,140,103 | $104.3M | Reduce -1.6% |
| META Meta Platforms Inc. Class A | 1.56% | 182,036 | $104.1M | Reduce -1.9% |
| HMC Honda Motor Co. Ltd.-Spons ADR | 1.51% | 4,200,912 | $100.8M | Reduce -4.3% |
| WFC Wells Fargo & Co. | 1.50% | 1,258,730 | $100.2M | Reduce -1.8% |
| KVUE Kenvue Inc. | 1.47% | 5,687,011 | $98.0M | Reduce -1.5% |
| PEP Pepsico Inc. | 1.46% | 627,495 | $97.4M | Reduce -1.1% |
| CDW CDW Corp. | 1.41% | 779,177 | $94.3M | Reduce -1.6% |
| UNH Unitedhealth Group Inc. | 1.40% | 345,770 | $93.6M | Add +15.1% |
| EFA iShares MSCI Eafe ETF | 1.27% | 874,962 | $85.0M | Add +5.2% |
| WDAY Workday Inc. Class A | 1.19% | 614,358 | $79.8M | Add +566.2% |
| NNN NNN REIT Inc. | 1.11% | 1,766,273 | $74.2M | Reduce -1.7% |
| INFY Infosys Ltd.-SP ADR | 0.97% | 4,806,490 | $64.9M | Add +1.5% |
| YMM Full Truck Alliance -SPN ADR | 0.92% | 7,397,162 | $61.4M | Add +33.3% |
| LHX L3HARRIS Technologies Inc. | 0.88% | 171,286 | $59.1M | Reduce -14.7% |
| HDB HDFC Bank Ltd.-ADR | 0.87% | 2,340,619 | $58.2M | Add +71.5% |
| KT KT Corp.-SP ADR | 0.85% | 2,663,200 | $57.1M | Reduce -9.8% |
| FISV Fiserv Inc. | 0.82% | 979,542 | $54.7M | Add +26.8% |
| WPP WPP PLC-Sponsored ADR | 0.79% | 3,404,911 | $52.9M | Add +5.1% |
| B Barrick Mining Corp. | 0.67% | 1,092,432 | $44.6M | Add +28.7% |
| BAP Credicorp Ltd. | 0.50% | 98,773 | $33.5M | Reduce -60.7% |
| KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC | 0.48% | 432,689 | $32.0M | Reduce -11.9% |
| AMZN Amazon.com Inc. | 0.34% | 109,856 | $22.9M | Reduce -3.2% |
| TSM Taiwan Semiconductor-SP ADR | 0.33% | 64,620 | $21.8M | Reduce -76.9% |
| KSA Ishrs MSCI Saudi Arabia ETF | 0.07% | 112,251 | $4.5M | Reduce -86.3% |
| Q Qnity Electronics Inc. | 0.06% | 37,378 | $4.3M | Reduce -94.9% |
| MU Micron Technology Inc. | 0.05% | 8,996 | $3.0M | Reduce -2.1% |
| ES Eversource Energy | 0.03% | 29,153 | $2.0M | Add +5.7% |
| AMT American Tower Corp. | 0.03% | 9,680 | $1.7M | Add +11.4% |
| CSX CSX Corp. | 0.02% | 40,362 | $1.7M | Add +2.6% |
| EIX Edison International | 0.02% | 20,345 | $1.5M | Add +9.1% |
| WAT Waters Corp. | 0.02% | 4,731 | $1.4M | Add +5.8% |
| EOG EOG Resources Inc. | 0.02% | 9,013 | $1.3M | Add +15.3% |
| PUK Prudential PLC-ADR | 0.02% | 44,276 | $1.3M | Reduce -0.3% |
| LH Labcorp Holdings Inc. | 0.02% | 4,415 | $1.2M | Reduce -96.2% |
| MCD McDonald's Corp. | 0.02% | 3,705 | $1.2M | Add +10.0% |
| SOLV Solventum Corp. | 0.01% | 14,691 | $959K | Add +10.8% |
| EWY iShares MSCI South Korea ETF | 0.01% | 7,383 | $908K | Add +12.5% |
| QCOM Qualcomm Inc. | 0.01% | 6,452 | $831K | Add +14.2% |
| ZTS Zoetis Inc. | 0.01% | 6,926 | $819K | New |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.01% | 6,515 | $773K | Reduce -84.3% |
| VEA Vanguard Ftse Developed ETF | 0.01% | 11,985 | $768K | Reduce -59.9% |
| HCA HCA Healthcare Inc. | 0.01% | 1,532 | $725K | Add +10.3% |
| DG Dollar General Corp. | 0.01% | 4,095 | $486K | No change |
| ASHR Xtrackers Harvest Csi 300 CH | 0.01% | 13,983 | $456K | Add +12.9% |
| NVS Novartis AG-Sponsored ADR | 0.01% | 2,353 | $359K | Reduce -56.4% |
| UBER Uber Technologies Inc. | 0.01% | 4,725 | $340K | New |
| SHG Shinhan Financial Group-ADR | 0.01% | 5,500 | $337K | Add +12.6% |
| BABA Alibaba Group Holding-SP ADR | 0.00% | 2,486 | $312K | Add +11.1% |
| ASX Ase Technology Holding -ADR | 0.00% | 13,268 | $288K | Add +13.9% |
| ENIC Enel Chile SA-ADR | 0.00% | 55,120 | $217K | No change |
| VWO Vanguard Ftse Emerging Marke | 0.00% | 3,194 | $173K | Add +57.3% |
| PAC Grupo Aeroportuario Pac-ADR | 0.00% | 690 | $170K | Add +7.1% |
| SOBO South Bow Corp. | 0.00% | 3,597 | $166K | No change |
| UAE iShares MSCI Uae ETF | 0.00% | 8,654 | $161K | Reduce -98.8% |
| FMX Fomento Economico Mex-SP ADR | 0.00% | 1,422 | $158K | Add +14.2% |
| PG The Procter & Gamble Co. | 0.00% | 1,089 | $157K | New |
| ITUB Itau Unibanco H-Spon PRF ADR | 0.00% | 18,668 | $156K | Add +13.3% |
| CNI Canadian Natl Railway Co. | 0.00% | 1,038 | $149K | No change |
| TLK Telkom Indonesia Persero-ADR filed as TELEKOMUNIKASI IND | 0.00% | 7,568 | $141K | Add +12.8% |
| NTES Netease Inc.-ADR | 0.00% | 1,248 | $140K | New |
| IBN Icici Bank Ltd.-Spon ADR | 0.00% | 5,388 | $140K | Add +29.0% |
| PFE Pfizer Inc. | 0.00% | 4,360 | $122K | New |
| ABEV Ambev SA-ADR | 0.00% | 40,974 | $120K | Add +15.8% |
| VEU Vanguard Ftse All-World Ex-U | 0.00% | 1,588 | $119K | Reduce -57.3% |
| UL Unilever PLC-Sponsored ADR | 0.00% | 2,057 | $117K | Add +14.5% |
| UNP Union Pacific Corp. | 0.00% | 455 | $110K | Add +32.6% |
| NI Nisource Inc. | 0.00% | 2,355 | $110K | Add +45.9% |
| BIDU Baidu Inc. - Spon ADR | 0.00% | 871 | $97K | Add +13.3% |
| LNG Cheniere Energy Inc. | 0.00% | 276 | $78K | New |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA B C | 0.00% | 473 | $46K | Add +0.6% |
| ATHM Autohome Inc.-ADR | 0.00% | 2,413 | $42K | Reduce -57.8% |
| BTG B2GOLD Corp. | 0.00% | 6,314 | $40K | Add +0.3% |
| NOMD Nomad Foods Ltd. | 0.00% | 3,833 | $37K | No change |
| LAUR Laureate Education Inc. | 0.00% | 876 | $31K | No change |
| VINP Vinci Compass Investments LT | 0.00% | 2,807 | $30K | No change |
| OTEX Open Text Corp. | 0.00% | 587 | $18K | No change |
| E Eni SPA-Sponsored ADR | 0.00% | 225 | $13K | Reduce -17.0% |
| DEM Wisdomtree Emerging Markets | 0.00% | 24 | $1K | Add +41.2% |
| EEM iShares MSCI Emerging Market | 0.00% | 12 | $708 | Reduce -98.2% |
Portfolio Sells Q4 2025 → Q1 2026
| TSM Taiwan Semiconductor-SP ADR | Reduce -76.9% | 0.33% | −1.08 |
| SAN Banco Santander SA-Spon ADR | Reduce -9.3% | 3.77% | −1.00 |
| LYG Lloyds Banking Group PLC-ADR | Reduce -7.3% | 3.90% | −0.99 |
| Q Qnity Electronics Inc. | Reduce -94.9% | 0.06% | −0.92 |
| GOOGL Alphabet Inc. Class A | Reduce -8.3% | 2.52% | −0.78 |
| BAP Credicorp Ltd. | Reduce -60.7% | 0.50% | −0.69 |
| HMC Honda Motor Co. Ltd.-Spons ADR | Reduce -4.3% | 1.51% | −0.59 |
| GSK GSK PLC-Spon ADR | Reduce -14.1% | 4.12% | −0.58 |
| DLTR Dollar Tree Inc. | Reduce -4.0% | 1.66% | −0.48 |
| WFC Wells Fargo & Co. | Reduce -1.8% | 1.50% | −0.47 |
| LH Labcorp Holdings Inc. | Reduce -96.2% | 0.02% | −0.47 |
| SCHW Schwab (charles) Corp. | Reduce -1.6% | 2.41% | −0.46 |
| META Meta Platforms Inc. Class A | Reduce -1.9% | 1.56% | −0.46 |
| KSA Ishrs MSCI Saudi Arabia ETF | Reduce -86.3% | 0.07% | −0.43 |
| BAC Bank of America Corp. | Reduce -1.6% | 1.56% | −0.41 |
| CDW CDW Corp. | Reduce -1.6% | 1.41% | −0.37 |
| PHG Koninklijke Philips NVR- NY | Reduce -1.2% | 3.20% | −0.33 |
| SYY Sysco Corp. | Reduce -1.4% | 1.95% | −0.30 |
| BTI British American Tob-SP ADR | Reduce -1.0% | 3.24% | −0.25 |
| DD Dupont DE Nemours Inc. | Reduce -15.5% | 1.62% | −0.24 |
| UAE iShares MSCI Uae ETF | Reduce -98.8% | 0.00% | −0.22 |
| TXN Texas Instruments Inc. | Reduce -8.8% | 2.22% | −0.18 |
| KVUE Kenvue Inc. | Reduce -1.5% | 1.47% | −0.18 |
| CHT Chunghwa Telecom LT-Spon ADR | Sold out | 0.00% | −0.16 |
| KSPI JSC Kaspi.kz ADR | Reduce -11.9% | 0.48% | −0.15 |
| PLD Prologis Inc. | Reduce -1.6% | 1.87% | −0.15 |
| AMZN Amazon.com Inc. | Reduce -3.2% | 0.34% | −0.09 |
| LHX L3HARRIS Technologies Inc. | Reduce -14.7% | 0.88% | −0.09 |
| VALE Vale SA-SP ADR | Reduce -12.7% | 2.37% | −0.08 |
| KT KT Corp.-SP ADR | Reduce -9.8% | 0.85% | −0.07 |
| BNY Bank of New York Mellon Corp. | Reduce -84.3% | 0.01% | −0.07 |
| NNN NNN REIT Inc. | Reduce -1.7% | 1.11% | −0.06 |
| VEA Vanguard Ftse Developed ETF | Reduce -59.9% | 0.01% | −0.02 |
| NVS Novartis AG-Sponsored ADR | Reduce -56.4% | 0.01% | −0.01 |
| SWK Stanley Black & Decker Inc. | Sold out | 0.00% | −0.01 |
| EA Electronic Arts Inc. | Sold out | 0.00% | −0.01 |
| PUK Prudential PLC-ADR | Reduce -0.3% | 0.02% | −0.00 |
| VEU Vanguard Ftse All-World Ex-U | Reduce -57.3% | 0.00% | −0.00 |
| ATHM Autohome Inc.-ADR | Reduce -57.8% | 0.00% | −0.00 |
| EEM iShares MSCI Emerging Market | Reduce -98.2% | 0.00% | −0.00 |
| TAK Takeda Pharmaceutic-SP ADR | Sold out | 0.00% | −0.00 |
| E Eni SPA-Sponsored ADR | Reduce -17.0% | 0.00% | 0.00 |
| PAX Patria Investments Ltd. Class A | Sold out | 0.00% | 0.00 |
| MU Micron Technology Inc. | Reduce -2.1% | 0.05% | +0.00 |
| MRK Merck & Co. Inc. | Reduce -1.8% | 2.85% | +0.05 |
| SHEL Shell PLC-ADR | Reduce -0.3% | 2.24% | +0.28 |
| XOM Exxon Mobil Corp. | Reduce -2.0% | 1.64% | +0.33 |
| BP BP PLC-Spons ADR | Reduce -0.8% | 3.23% | +0.58 |
| PBR Petroleo Brasileiro-Spon ADR | Reduce -12.3% | 3.45% | +0.97 |
| PEP Pepsico Inc. | Reduce -1.1% | 1.46% | +1.46 |
Portfolio Buys Q4 2025 → Q1 2026
| WDAY Workday Inc. Class A | Add +566.2% | 1.19% | +0.87 |
| MSFT Microsoft Corp. | Add +48.6% | 2.31% | +0.07 |
| B Barrick Mining Corp. | Add +28.7% | 0.67% | +0.06 |
| HDB HDFC Bank Ltd.-ADR | Add +71.5% | 0.87% | +0.05 |
| SNY Sanofi-ADR | Add +12.1% | 3.63% | +0.04 |
| SONY Sony Group Corp. - SP ADR | Add +37.9% | 3.76% | +0.04 |
| ZTS Zoetis Inc. | New | 0.01% | +0.01 |
| EOG EOG Resources Inc. | Add +15.3% | 0.02% | +0.01 |
| UBER Uber Technologies Inc. | New | 0.01% | +0.01 |
| EIX Edison International | Add +9.1% | 0.02% | +0.00 |
| EWY iShares MSCI South Korea ETF | Add +12.5% | 0.01% | +0.00 |
| PG The Procter & Gamble Co. | New | 0.00% | +0.00 |
| NTES Netease Inc.-ADR | New | 0.00% | +0.00 |
| PFE Pfizer Inc. | New | 0.00% | +0.00 |
| CSX CSX Corp. | Add +2.6% | 0.02% | +0.00 |
| ASX Ase Technology Holding -ADR | Add +13.9% | 0.00% | +0.00 |
| LNG Cheniere Energy Inc. | New | 0.00% | +0.00 |
| VWO Vanguard Ftse Emerging Marke | Add +57.3% | 0.00% | +0.00 |
| SHG Shinhan Financial Group-ADR | Add +12.6% | 0.01% | +0.00 |
| NI Nisource Inc. | Add +45.9% | 0.00% | +0.00 |
| ITUB Itau Unibanco H-Spon PRF ADR | Add +13.3% | 0.00% | +0.00 |
| ABEV Ambev SA-ADR | Add +15.8% | 0.00% | +0.00 |
| FMX Fomento Economico Mex-SP ADR | Add +14.2% | 0.00% | +0.00 |
| UNP Union Pacific Corp. | Add +32.6% | 0.00% | +0.00 |
| MCD McDonald's Corp. | Add +10.0% | 0.02% | +0.00 |
| ASHR Xtrackers Harvest Csi 300 CH | Add +12.9% | 0.01% | +0.00 |
| HCA HCA Healthcare Inc. | Add +10.3% | 0.01% | +0.00 |
| BTG B2GOLD Corp. | Add +0.3% | 0.00% | 0.00 |
| IBN Icici Bank Ltd.-Spon ADR | Add +29.0% | 0.00% | 0.00 |
| DEM Wisdomtree Emerging Markets | Add +41.2% | 0.00% | 0.00 |
| BNS Bank of Nova Scotia | Add +0.6% | 0.00% | −0.00 |
| AMT American Tower Corp. | Add +11.4% | 0.03% | −0.00 |
| BIDU Baidu Inc. - Spon ADR | Add +13.3% | 0.00% | −0.00 |
| PAC Grupo Aeroportuario Pac-ADR | Add +7.1% | 0.00% | −0.00 |
| TLK Telkom Indonesia Persero-ADR | Add +12.8% | 0.00% | −0.00 |
| UL Unilever PLC-Sponsored ADR | Add +14.5% | 0.00% | −0.00 |
| ES Eversource Energy | Add +5.7% | 0.03% | −0.00 |
| BABA Alibaba Group Holding-SP ADR | Add +11.1% | 0.00% | −0.00 |
| SOLV Solventum Corp. | Add +10.8% | 0.01% | −0.00 |
| QCOM Qualcomm Inc. | Add +14.2% | 0.01% | −0.00 |
| WAT Waters Corp. | Add +5.8% | 0.02% | −0.01 |
| FISV Fiserv Inc. | Add +26.8% | 0.82% | −0.04 |
| EFA iShares MSCI Eafe ETF | Add +5.2% | 1.27% | −0.05 |
| YMM Full Truck Alliance -SPN ADR | Add +33.3% | 0.92% | −0.06 |
| UNH Unitedhealth Group Inc. | Add +15.1% | 1.40% | −0.24 |
| WPP WPP PLC-Sponsored ADR | Add +5.1% | 0.79% | −0.41 |
| INFY Infosys Ltd.-SP ADR | Add +1.5% | 0.97% | −0.42 |
| TMO Thermo Fisher Scientific Inc. | Add +7.1% | 2.35% | −0.50 |
| CRM Salesforce Inc. | Add +9.1% | 1.69% | −0.73 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 111 | $6.5B | YUMC, LYG, SAN, GSK, SONY |
| Q1 2026 | 103 | $6.7B | YUMC, GSK, LYG, SAN, SONY |
| Q4 2025 | 102 | $6.1B | LYG, SAN, GSK, SONY, SNY |
| Q3 2025 | 96 | $6.0B | LYG, SAN, SONY, GSK, BTI |
| Q1 2025 | 98 | $5.8B | SAN, LYG, SONY, TRP, BTI |
| Q4 2024Amended | 100 | $6.1B | TRP, SONY, LYG, SAN, GSK |
| Q3 2024 | 100 | $6.6B | TRP, PHG, LYG, SAN, SONY |
| Q2 2024 | 96 | $6.5B | TRP, PHG, LYG, SAN, SONY |
| Q1 2024 | 98 | $7.3B | TRP, SAN, TSM, GSK, LYG |