CIK: 0000928196
Total reported value
$9.7B
Reporting period: 2026-03-31 · Number of holdings: 73
Harding Loevner LP disclosed 73 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $9.7B and a quarterly turnover rate of 28.2%.
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Harding Loevner LP's disclosed holdings carry a Herfindahl concentration index of 0.036 — mathematically equivalent to about 28 equally-sized positions, well below its 73 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.29), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Trim HDB
-41.0% -$550.6M
Trim ALC
-99.5% -$377.5M
Add CNI
+32.6% $80.2M
Add FMX
-6.3% $17.6M
Add BAP
-6.8% $41.5M
Add NVDA
+48.0% $61.6M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 12.18% | +0.58% | -19.27% | |
| 2 | FMX | Fomento Economico Mex-sp Adr | Stock-Other | 6.35% | +1.07% | -6.33% | |
| 3 | BAP | Credicorp Ltd. | Stock-Financials | 4.63% | +1.04% | -6.76% | |
| 4 | HDB | Hdfc Bank Ltd-adr | Stock-Financials | 3.80% | -4.30% | -41.01% | |
| 5 | RYAAY | Ryanair Holdings Plc-sp Adr | Stock-Industrials | 3.68% | — | +24.64% | |
| 6 | MELI | Mercadolibre INC | Stock-Consumer Disc | 3.32% | -0.16% | -5.10% | |
| 7 | CNI | Canadian Natl Railway Co | Stock-Industrials | 3.01% | +1.15% | +32.55% | |
| 8 | ASML | ASML Holding N.V. | Stock-Tech | 2.94% | +0.10% | -28.32% | |
| 9 | NICE | Nice LTD - Spon Adr | Stock-Tech | 2.87% | +0.30% | -1.83% | |
| 10 | SHEL | Shell Plc-adr | Stock-Energy | 2.74% | +0.78% | -5.41% | |
| 11 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 2.69% | -0.08% | -9.70% | |
| 12 | NTES | Netease Inc-adr | Stock-Comm Services | 2.68% | -0.32% | -6.16% | |
| 13 | AMZN | Amazon.com INC | Stock-Consumer Disc | 2.41% | +0.05% | -3.44% | |
| 14 | NVDA | Nvidia CORP | Stock-Tech | 2.28% | +0.87% | +47.99% | |
| 15 | MSFT | Microsoft CORP | Stock-Tech | 2.06% | -0.49% | -9.66% | |
| 16 | RIO | Rio Tinto Plc-spon Adr | Stock-Materials | 1.89% | +0.44% | -4.02% | |
| 17 | NFLX | Netflix INC | Stock-Comm Services | 1.84% | — | -3.20% | |
| 18 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.75% | -0.06% | -4.35% | |
| 19 | HLN | Haleon Plc-adr | Stock-Healthcare | 1.62% | +0.14% | -5.44% | |
| 20 | MFC | Manulife Financial CORP | Stock-Financials | 1.59% | +0.08% | -5.23% | |
| 21 | RGA | Reinsurance Group Of America | Stock-Financials | 1.46% | +1.46% | NEW | |
| 22 | VRTX | Vertex Pharmaceuticals INC | Stock-Healthcare | 1.44% | -0.12% | -19.99% | |
| 23 | BBVA | Banco Bilbao Vizcaya-sp Adr | Stock-Financials | 1.43% | — | -8.14% | |
| 24 | SONY | Sony Group CORP - Sp Adr | Stock-Tech | 1.41% | -0.18% | -5.76% | |
| 25 | TW | Tradeweb Markets Inc-class A | Stock-Financials | 1.31% | — | -3.22% | |
| 26 | AVGO | Broadcom INC | Stock-Tech | 1.21% | +0.01% | -3.14% | |
| 27 | SE | Sea Ltd-adr | Stock-Comm Services | 1.17% | -0.51% | -8.69% | |
| 28 | PGR | Progressive CORP | Stock-Financials | 1.16% | -0.02% | -2.83% | |
| 29 | APH | Amphenol Corp-cl A | Stock-Tech | 1.16% | +0.03% | -6.46% | |
| 30 | VEU | Vanguard Ftse All-world Ex-u | ETF-Other | 1.08% | -0.16% | -27.07% | |
| 31 | V | Visa Inc-class A Shares | Stock-Financials | 1.03% | +0.29% | +38.14% | |
| 32 | CME | Cme Group INC | Stock-Financials | 1.03% | -0.40% | -42.99% | |
| 33 | SLB | Slb LTD | Stock-Energy | 1.00% | +0.38% | +2.30% | |
| 34 | HON | Honeywell International INC | Stock-Industrials | 0.95% | — | -6.83% | |
| 35 | NVS | Novartis Ag-sponsored Adr | Stock-Healthcare | 0.92% | — | -3.17% | |
| 36 | GMAB | Genmab A/s -sp Adr | Stock-Other | 0.89% | -0.02% | -4.11% | |
| 37 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.89% | +0.23% | -3.35% | |
| 38 | AME | Ametek INC | Stock-Industrials | 0.84% | — | -10.19% | |
| 39 | AZN | AstraZeneca PLC | Stock-Healthcare | 0.83% | +0.83% | NEW | |
| 40 | HEI | Heico CORP | Stock-Industrials | 0.81% | — | +1.15% | |
| 41 | BKNG | Booking Holdings INC | Stock-Consumer Disc | 0.81% | -0.72% | -42.49% | |
| 42 | TLK | Telkom Indonesia Persero-adr | Stock-Other | 0.81% | -0.02% | -6.20% | |
| 43 | ABBV | Abbvie INC | Stock-Healthcare | 0.80% | — | -3.51% | |
| 44 | ACN | Accenture plc | Stock-Tech | 0.79% | -0.18% | -4.90% | |
| 45 | ADBE | Adobe INC | Stock-Tech | 0.79% | -0.22% | -4.22% | |
| 46 | DE | Deere & Co | Stock-Industrials | 0.77% | — | -7.09% | |
| 47 | NVT | nVent Electric plc | Stock-Industrials | 0.76% | +0.76% | NEW | |
| 48 | FN | Fabrinet | Stock-Tech | 0.74% | — | -1.30% | |
| 49 | TMO | Thermo Fisher Scientific INC | Stock-Healthcare | 0.71% | -0.03% | -3.61% | |
| 50 | DHR | Danaher CORP | Stock-Healthcare | 0.67% | -0.06% | -4.25% |
Performance for Q3 2026
+3%
Performance Last 4 Quarters
+6.5%
Based on 74% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 73 | $9.7B | 28 | |
| 2025-12-31 | 76 | $11.4B | 27 | |
| 2025-09-30 | 71 | $13.6B | 38 | |
| 2025-06-30 | 68 | $14.9B | 0 | |
| 2025-03-31 | 67 | $13.1B | 100 | |
| 2024-12-31 | 67 | $14.8B | 0 | |
| 2024-09-30 | 67 | $17.3B | 0 | |
| 2024-06-30 | 70 | $18.1B | 0 | |
| 2024-03-31 | 69 | $16.2B | 0 | |
| 2023-12-31 | 72 | $17.8B | 0 | |
| 2023-09-30 | 71 | $15.1B | 0 | |
| 2023-06-30 | 69 | $17.1B | 0 | |
| 2023-03-31 | 74 | $17.6B | 0 | |
| 2022-12-31 | 82 | $17.4B | 0 | |
| 2022-09-30 | 162 | $15.3B | 0 | |
| 2022-06-30 | 153 | $16.2B | 0 | |
| 2022-03-31 | 153 | $18.2B | 0 | |
| 2021-12-31 | 160 | $26.1B | 0 | |
| 2021-09-30 | 147 | $25.1B | 0 | |
| 2021-06-30 | 157 | $26.6B | 98 | |
| 2021-03-31 | 154 | $25.6B | 34 | |
| 2020-12-31 | 147 | $24.2B | 50 | |
| 2020-09-30 | 178 | $27.7B | 43 | |
| 2020-06-30 | 150 | $20.9B | 35 | |
| 2020-03-31 | 147 | $17.9B | 37 | |
| 2019-12-31 | 140 | $22.5B | 18 | |
| 2019-09-30 | 134 | $21.2B | 12 | |
| 2019-06-30 | 135 | $21.8B | 15 | |
| 2019-03-31 | 132 | $21.3B | 31 | |
| 2018-12-31 | 139 | $17.3B | 28 | |
| 2018-09-30 | 134 | $19.2B | 15 | |
| 2018-06-30 | 137 | $17.8B | 21 | |
| 2018-03-31 | 152 | $19.2B | 19 | |
| 2017-12-31 | 132 | $17.6B | 14 | |
| 2017-09-30 | 127 | $17.6B | 22 | |
| 2017-06-30 | 124 | $16.3B | 14 | |
| 2017-03-31 | 71 | $15.3B | 18 | |
| 2016-12-31 | 74 | $14.3B | 24 | |
| 2016-09-30 | 88 | $13.9B | 17 | |
| 2016-06-30 | 90 | $12.8B | 19 | |
| 2016-03-31 | 93 | $12.7B | 19 | |
| 2015-12-31 | 111 | $12.3B | 22 | |
| 2015-09-30 | 102 | $12.4B | 32 | |
| 2015-06-30 | 85 | $14.3B | 23 | |
| 2015-03-31 | 80 | $13.1B | 20 | |
| 2014-12-31 | 89 | $12.4B | 23 | |
| 2014-09-30 | 85 | $13.5B | 13 | |
| 2014-06-30 | 85 | $13.4B | 20 | |
| 2014-03-31 | 86 | $13.1B | 16 | |
| 2013-12-31 | 81 | $12.9B | 20 | |
| 2013-09-30 | 86 | $11.2B | 18 | |
| 2013-06-30 | 86 | $10.3B | 0 |
Harding Loevner LP's most significant position changes for 2026-03-31: New buy: Reinsurance Group Of America (RGA); New buy: AstraZeneca PLC (AZN); New buy: nVent Electric plc (NVT); Sold out: Costar Group INC (CSGP); Sold out: Ishares Msci Taiwan ETF (EWT).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | CNI | Canadian Natl Railway Co | +1.2% | +32.55% | Add |
| 2 | FMX | Fomento Economico Mex-sp Adr | +1.1% | -6.33% | Trim |
| 3 | BAP | Credicorp Ltd. | +1% | -6.76% | Trim |
| 4 | NVDA | Nvidia CORP | +0.9% | +47.99% | Add |
| 5 | SHEL | Shell Plc-adr | +0.8% | -5.41% | Trim |
| 6 | TSM | Taiwan Semiconductor-sp Adr | +0.6% | -19.27% | Trim |
| 7 | RIO | Rio Tinto Plc-spon Adr | +0.4% | -4.02% | Trim |
| 8 | SLB | Slb LTD | +0.4% | +2.30% | Add |
| 9 | NICE | Nice LTD - Spon Adr | +0.3% | -1.83% | Trim |
| 10 | V | Visa Inc-class A Shares | +0.3% | +38.14% | Add |
| 11 | JNJ | Johnson & Johnson | +0.2% | -3.35% | Trim |
| 12 | HLN | Haleon Plc-adr | +0.1% | -5.44% | Trim |
| 13 | ASML | ASML Holding N.V. | +0.1% | -28.32% | Trim |
| 14 | MFC | Manulife Financial CORP | +0.1% | -5.23% | Trim |
| 15 | AMZN | Amazon.com INC | +0.1% | -3.44% | Trim |
| 16 | APH | Amphenol Corp-cl A | 0% | -6.46% | Trim |
| 17 | AVGO | Broadcom INC | 0% | -3.14% | Trim |
| 18 | BBVA | Banco Bilbao Vizcaya-sp Adr | — | -8.14% | Trim |
| 19 | HEI | Heico CORP | — | +1.15% | Add |
| 20 | EFX | Equifax INC | 0% | +1.14% | Add |
| 21 | PGR | Progressive CORP | 0% | -2.83% | Trim |
| 22 | GMAB | Genmab A/s -sp Adr | 0% | -4.11% | Trim |
| 23 | TLK | Telkom Indonesia Persero-adr | 0% | -6.20% | Trim |
| 24 | TMO | Thermo Fisher Scientific INC | 0% | -3.61% | Trim |
| 25 | ELV | Elevance Health INC | 0% | -4.03% | Trim |
| 26 | META | Meta Platforms Inc-class A | -0.1% | -4.35% | Trim |
| 27 | DHR | Danaher CORP | -0.1% | -4.25% | Trim |
| 28 | VEA | Vanguard Ftse Developed ETF | -0.1% | -84.86% | Trim |
| 29 | GOOGL | Alphabet Inc-cl A | -0.1% | -9.70% | Trim |
| 30 | VRTX | Vertex Pharmaceuticals INC | -0.1% | -19.99% | Trim |
| 31 | TTD | Trade Desk Inc/the -class A | -0.1% | -2.61% | Trim |
| 32 | ACWX | Ishares Msci Acwi Ex US ETF | -0.1% | -84.29% | Trim |
| 33 | MELI | Mercadolibre INC | -0.2% | -5.10% | Trim |
| 34 | VEU | Vanguard Ftse All-world Ex-u | -0.2% | -27.07% | Trim |
| 35 | SONY | Sony Group CORP - Sp Adr | -0.2% | -5.76% | Trim |
| 36 | ACN | Accenture plc | -0.2% | -4.90% | Trim |
| 37 | SAP | Sap Se-sponsored Adr | -0.2% | -7.15% | Trim |
| 38 | ADBE | Adobe INC | -0.2% | -4.22% | Trim |
| 39 | NTES | Netease Inc-adr | -0.3% | -6.16% | Trim |
| 40 | CME | Cme Group INC | -0.4% | -42.99% | Trim |
| 41 | MSFT | Microsoft CORP | -0.5% | -9.66% | Trim |
| 42 | SE | Sea Ltd-adr | -0.5% | -8.69% | Trim |
| 43 | BKNG | Booking Holdings INC | -0.7% | -42.49% | Trim |
| 44 | ALC | Alcon Inc. | -3.3% | -99.53% | Trim |
| 45 | HDB | Hdfc Bank Ltd-adr | -4.3% | -41.01% | Trim |
| 46 | RGA | Reinsurance Group Of America | — | NEW | New buy |
| 47 | AZN | AstraZeneca PLC | — | NEW | New buy |
| 48 | NVT | nVent Electric plc | — | NEW | New buy |
| 49 | CSGP | Costar Group INC | — | EXIT | Sold out |
| 50 | EWT | Ishares Msci Taiwan ETF | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-17 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-15 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-14 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-14 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-15 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-14 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-14 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-15 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-14 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-15 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-16 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-14 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-15 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-16 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-17 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-16 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-16 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-14 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-15 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-14 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-14 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-14 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-15 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-14 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-14 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-14 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-14 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-12 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-14 | Amendment | View on EDGAR |
| 2017-09-30 | 2017-11-13 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-11 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-04-07 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-01-11 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-10-11 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-07-15 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-02 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-01-26 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-10-19 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-07-24 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-04-20 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-01-14 | Amendment | View on EDGAR |
| 2014-12-31 | 2015-01-12 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-10-31 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-07-29 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-04-25 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-01-17 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-10-22 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-07-24 | 13F-HR | View on EDGAR |
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