# Harding Loevner LP

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 928196. Source: https://holderbook.com/funds/928196-harding-loevner-lp/

- Reported value: $10.6B
- Positions: 82
- Weight of the ten largest: 51.9%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $1.3B | 2,884,195 | 12.7% | 31 |
| SPOTIFY TECHNOLOGY S A | [SPOT](https://holderbook.com/stocks/SPOT/) | $741.5M | 1,598,173 | 7.0% | 1 |
| FOMENTO ECONOMICO MEXICANO S | [FMX](https://holderbook.com/stocks/FMX/) | $688.7M | 5,383,731 | 6.5% | 31 |
| CANADIAN NATL RY CO | [CNI](https://holderbook.com/stocks/CNI/) | $648.4M | 5,390,831 | 6.1% | 31 |
| CREDICORP LTD | [BAP](https://holderbook.com/stocks/BAP/) | $500.4M | 1,278,788 | 4.7% | 19 |
| RYANAIR HOLDINGS PLC | [RYAAY](https://holderbook.com/stocks/RYAAY/) | $381.4M | 5,951,510 | 3.6% | 5 |
| MERCADOLIBRE INC | [MELI](https://holderbook.com/stocks/MELI/) | $318.1M | 184,269 | 3.0% | 10 |
| SEA LTD | [SE](https://holderbook.com/stocks/SE/) | $311.0M | 3,198,265 | 2.9% | 4 |
| NETEASE COM INC | [NTES](https://holderbook.com/stocks/NTES/) | $291.4M | 2,258,205 | 2.7% | 6 |
| HDFC BANK LTD | [HDB](https://holderbook.com/stocks/HDB/) | $286.9M | 11,208,475 | 2.7% | 31 |
| ASML HLDG NV | [ASML](https://holderbook.com/stocks/ASML/) | $281.6M | 154,841 | 2.6% | 6 |
| SHELL PLC | [SHEL](https://holderbook.com/stocks/SHEL/) | $237.4M | 2,810,624 | 2.2% | 18 |
| MANULIFE FINL CORP | [MFC](https://holderbook.com/stocks/MFC/) | $236.7M | 5,575,714 | 2.2% | 19 |
| NICE LTD | [NICE](https://holderbook.com/stocks/NICE/) | $233.5M | 2,523,392 | 2.2% | 4 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $232.0M | 649,331 | 2.2% | 31 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $225.3M | 1,125,966 | 2.1% | 7 |
| BANCO BILBAO VIZCAYA ARGENTA | [BBVA](https://holderbook.com/stocks/BBVA/) | $222.2M | 8,391,515 | 2.1% | 31 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $207.5M | 870,587 | 2.0% | 25 |
| RIO TINTO PLC | [RIO](https://holderbook.com/stocks/RIO/) | $186.1M | 1,941,326 | 1.8% | 29 |
| HALEON PLC | [HLN](https://holderbook.com/stocks/HLN/) | $147.8M | 15,414,796 | 1.4% | 14 |
| SONY GROUP CORP | [SONY](https://holderbook.com/stocks/SONY/) | $139.5M | 6,468,686 | 1.3% | 13 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $137.5M | 368,533 | 1.3% | 31 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $133.7M | 237,407 | 1.3% | 31 |
| AMPHENOL CORP | [APH](https://holderbook.com/stocks/APH/) | $125.0M | 709,282 | 1.2% | 6 |
| REINSURANCE GROUP AMER INC | [RGA](https://holderbook.com/stocks/RGA/) | $116.4M | 547,439 | 1.1% | 2 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $103.7M | 1,451,884 | 1.0% | 20 |
| PROGRESSIVE CORP | [PGR](https://holderbook.com/stocks/PGR/) | $98.0M | 448,571 | 0.9% | 5 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $95.9M | 377,680 | 0.9% | 5 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $95.8M | 253,500 | 0.9% | 21 |
| NOVARTIS AG | [NVS](https://holderbook.com/stocks/NVS/) | $90.5M | 578,234 | 0.9% | 5 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $89.7M | 261,330 | 0.8% | 5 |
| GENMAB A/S | [GMAB](https://holderbook.com/stocks/GMAB/) | $86.9M | 3,086,318 | 0.8% | 23 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $84.9M | 169,255 | 0.8% | 31 |
| NVENT ELEC PLC | [NVT](https://holderbook.com/stocks/NVT/) | $84.3M | 496,873 | 0.8% | 2 |
| TRADEWEB MKTS INC | [TW](https://holderbook.com/stocks/TW/) | $84.0M | 843,174 | 0.8% | 24 |
| ITAU UNIBANCO HLDG S A | [ITUB](https://holderbook.com/stocks/ITUB/) | $81.2M | 9,944,372 | 0.8% | 31 |
| ASTRAZENECA PLC | [AZN](https://holderbook.com/stocks/AZN/) | $79.9M | 442,676 | 0.8% | 2 |
| HEICO CORP NEW | [HEI](https://holderbook.com/stocks/HEI/) | $79.6M | 223,476 | 0.7% | 6 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $75.2M | 259,985 | 0.7% | 1 |
| AMETEK INC | [AME](https://holderbook.com/stocks/AME/) | $74.6M | 308,154 | 0.7% | 6 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $70.3M | 279,294 | 0.7% | 14 |
| SLB LIMITED | [SLB](https://holderbook.com/stocks/SLB/) | $69.8M | 1,502,263 | 0.7% | 31 |
| BOOKING HOLDINGS INC | [BKNG](https://holderbook.com/stocks/BKNG/) | $69.3M | 388,556 | 0.7% | 10 |
| ELEVANCE HEALTH INC FORMERLY | [ELV](https://holderbook.com/stocks/ELV/) | $65.2M | 168,707 | 0.6% | 4 |
| DEERE & CO | [DE](https://holderbook.com/stocks/DE/) | $64.4M | 101,541 | 0.6% | 31 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $59.4M | 181,377 | 0.6% | 1 |
| TELEKOMUNIKASI IND | [TLK](https://holderbook.com/stocks/TLK/) | $56.8M | 4,053,444 | 0.5% | 22 |
| DANAHER CORP DEL | [DHR](https://holderbook.com/stocks/DHR/) | $51.1M | 268,109 | 0.5% | 31 |
| ADOBE INC | [ADBE](https://holderbook.com/stocks/ADBE/) | $49.9M | 243,380 | 0.5% | 31 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $45.3M | 516,580 | 0.4% | 1 |
| SAP SE | [SAP](https://holderbook.com/stocks/SAP/) | $43.6M | 281,110 | 0.4% | 31 |
| ATKORE INC | [ATKR](https://holderbook.com/stocks/ATKR/) | $43.1M | 567,192 | 0.4% | 9 |
| EQUIFAX INC | [EFX](https://holderbook.com/stocks/EFX/) | $40.1M | 252,498 | 0.4% | 3 |
| ACCENTURE PLC IRELAND | [ACN](https://holderbook.com/stocks/ACN/) | $37.7M | 302,900 | 0.4% | 22 |
| HONEYWELL INTL INC | [HON](https://holderbook.com/stocks/HON/) | $35.1M | 156,577 | 0.3% | 1 |
| HONEYWELL AEROSPACE INC | [HONA](https://holderbook.com/stocks/HONA/) | $34.6M | 156,581 | 0.3% | 1 |
| NORTHROP GRUMMAN CORP | [NOC](https://holderbook.com/stocks/NOC/) | $31.6M | 61,975 | 0.3% | 14 |
| TENARIS S A | [TS](https://holderbook.com/stocks/TS/) | $14.7M | 264,186 | 0.1% | 31 |
| ISHARES TR | [ACWI](https://holderbook.com/stocks/ACWI/) | $11.2M | 71,188 | 0.1% | 10 |
| KASPI KZ JSC | [KSPI](https://holderbook.com/stocks/KSPI/) | $9.5M | 109,630 | 0.1% | 10 |
| GRUPO CIBEST SA | [CIB](https://holderbook.com/stocks/CIB/) | $9.3M | 116,499 | 0.1% | 5 |
| BHP BILLITON LIMITED | [BHP](https://holderbook.com/stocks/BHP/) | $7.1M | 85,095 | 0.1% | 23 |
| ISHARES TR | [INDA](https://holderbook.com/stocks/INDA/) | $6.3M | 128,425 | 0.1% | 29 |
| VANGUARD INTL EQUITY INDEX F | [VEU](https://holderbook.com/stocks/VEU/) | $6.1M | 73,137 | 0.1% | 31 |
| FABRINET | [FN](https://holderbook.com/stocks/FN/) | $2.9M | 5,103 | 0.0% | 3 |
| XP INC | [XP](https://holderbook.com/stocks/XP/) | $2.6M | 162,616 | 0.0% | 1 |
| EPAM SYS INC | [EPAM](https://holderbook.com/stocks/EPAM/) | $2.2M | 28,004 | 0.0% | 31 |
| VISTA ENERGY S.A.B. DE C.V. | [VIST](https://holderbook.com/stocks/VIST/) | $2.2M | 34,131 | 0.0% | 1 |
| ICICI BANK LIMITED | [IBN](https://holderbook.com/stocks/IBN/) | $2.1M | 71,873 | 0.0% | 31 |
| LINDE PLC | [LIN](https://holderbook.com/stocks/LIN/) | $2.0M | 4,069 | 0.0% | 14 |
| ISHARES TR | [ACWX](https://holderbook.com/stocks/ACWX/) | $1.6M | 20,486 | 0.0% | 4 |
| SPDR SERIES TRUST | [XSW](https://holderbook.com/stocks/XSW/) | $1.0M | 5,609 | 0.0% | 1 |
| ALCON AG | [ALC](https://holderbook.com/stocks/ALC/) | $912.8K | 13,603 | 0.0% | 22 |
| ISHARES TR | [IXP](https://holderbook.com/stocks/IXP/) | $867.5K | 7,544 | 0.0% | 1 |
| VERTEX PHARMACEUTICALS INC | [VRTX](https://holderbook.com/stocks/VRTX/) | $577.7K | 1,163 | 0.0% | 31 |
| ISHARES TR | [IYT](https://holderbook.com/stocks/IYT/) | $491.8K | 5,791 | 0.0% | 1 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $468.2K | 6,629 | 0.0% | 29 |
| ISHARES TR | [RXI](https://holderbook.com/stocks/RXI/) | $322.6K | 1,611 | 0.0% | 1 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $312.4K | 432 | 0.0% | 1 |
| FIDELITY COVINGTON TRUST | [FNCL](https://holderbook.com/stocks/FNCL/) | $293.9K | 3,625 | 0.0% | 1 |
| VANGUARD INTL EQUITY INDEX F | [VT](https://holderbook.com/stocks/VT/) | $225.6K | 1,437 | 0.0% | 3 |
| ISHARES TR | [IXJ](https://holderbook.com/stocks/IXJ/) | $215.5K | 2,150 | 0.0% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +11.2% | +14.8% | -3.6% | 100% |
| Q1 2026 | -4.6% | -4.6% | +0.0% | 100% |
| Q4 2025 | +1.6% | +2.4% | -0.8% | 100% |
| Q3 2025 | +1.8% | +7.8% | -6.0% | 100% |
| Q2 2025 | +11.3% | +10.5% | +0.8% | 100% |
| Q1 2025 | -0.2% | -4.6% | +4.3% | 100% |
| Q4 2024 | -1.3% | +2.1% | -3.5% | 102% |
| Q3 2024 | +5.2% | +5.4% | -0.2% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $10.6B | 82 |
| Q1 2026 | $9.7B | 73 |
| Q4 2025 | $11.4B | 76 |
| Q3 2025 | $13.6B | 71 |
| Q2 2025 | $14.9B | 68 |
| Q1 2025 | $13.1B | 67 |
| Q4 2024 | $14.8B | 67 |
| Q3 2024 | $17.3B | 67 |
| Q2 2024 | $18.1B | 70 |
| Q1 2024 | $16.2B | 69 |
| Q4 2023 | $17.8B | 72 |
| Q3 2023 | $15.1B | 71 |