Harding Loevner Lp Top Holdings and 13F Report (2024)

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About Harding Loevner Lp

Investment Activity

Harding Loevner Lp has $16.20 billion in total holdings as of March 31, 2024.
Harding Loevner Lp owns shares of 69 different stocks, but just 33 companies or ETFs make up 80% of its holdings.
Approximately 7.85% of the portfolio was purchased this quarter.
About 25.59% of the portfolio was sold this quarter.
This quarter, Harding Loevner Lp has purchased 72 new stocks and bought additional shares in 8 stocks.
Harding Loevner Lp sold shares of 56 stocks and completely divested from 8 stocks this quarter.

Largest Holdings

Taiwan Semiconductor Manufacturing: $946,578,895
SAP: $752,752,025
Alcon: $699,073,126
Fomento Económico Mexicano: $676,086,840
Microsoft: $606,077,686

Largest New Holdings this Quarter

MercadoLibre: $338,811,778 Holding
Globant: $182,504,114 Holding
Booking: $130,843,120 Holding
KASPI KZ JSC: $64,365,153 Holding
iShares MSCI ACWI ETF: $4,649,636 Holding

Largest Purchases this Quarter

MercadoLibre: 224,067 shares (about $338.81M)
ZTO Express (Cayman): 9,980,678 shares (about $209.00M)
Microsoft: 473,165 shares (about $199.07M)
Globant: 903,956 shares (about $182.50M)
Booking: 36,066 shares (about $130.84M)

Largest Sales this Quarter

Taiwan Semiconductor Manufacturing: 4,659,134 shares (about $633.88M)
SAP: 1,573,217 shares (about $306.82M)
Fomento Económico Mexicano: 2,311,532 shares (about $301.12M)
Manulife Financial: 8,814,008 shares (about $220.26M)
Banco Bilbao Vizcaya Argentaria: 17,484,932 shares (about $207.02M)

Sector Allocation Over Time

Selling

Neutral

Buying

Latest 13F Holdings and Changes Since Previous Quarterly Filing

Issuer Name	Holdings Value	Approximate Purchase/Sale	Change in Shares	Shares Held	% of Portfolio	Sector
TSM Taiwan Semiconductor Manufacturing	$946,578,895	$633,875,181 ▼	-40.1%	6,957,581	5.8%	Computer and Technology
SAP SAP	$752,752,025	$306,824,511 ▼	-29.0%	3,859,673	4.6%	Computer and Technology
ALC Alcon	$699,073,126	$25,169,822 ▼	-3.5%	8,393,242	4.3%	Medical
FMX Fomento Económico Mexicano	$676,086,840	$301,123,274 ▼	-30.8%	5,189,889	4.2%	Consumer Staples
MSFT Microsoft	$606,077,686	$199,066,877 ▲	48.9%	1,440,595	3.7%	Computer and Technology
META Meta Platforms	$582,915,711	$54,583,176 ▼	-8.6%	1,200,493	3.6%	Computer and Technology
HDB HDFC Bank	$515,984,901	$13,331,900 ▼	-2.5%	9,218,481	3.2%	Finance
VRTX Vertex Pharmaceuticals	$511,233,536	$41,044,131 ▼	-7.4%	1,223,038	3.2%	Medical
GOOGL Alphabet	$510,581,546	$42,059,148 ▼	-7.6%	3,382,738	3.2%	Computer and Technology
AMZN Amazon.com	$493,596,950	$40,159,689 ▼	-7.5%	2,736,387	3.0%	Retail/Wholesale
BHP BHP Group	$431,355,630	$186,151,323 ▼	-30.1%	7,477,130	2.7%	Basic Materials
LINDE PLC	$410,799,227	$134,177,336 ▼	-24.6%	884,733	2.5%	SHS
IBN ICICI Bank	$374,749,341	$11,127,603 ▼	-2.9%	14,189,019	2.3%	Finance
CNI Canadian National Railway	$372,786,993	$4,647,565 ▼	-1.2%	2,830,575	2.3%	Transportation
BNTX BioNTech	$352,227,770	$11,652,264 ▼	-3.2%	3,818,163	2.2%	Medical
NFLX Netflix	$350,759,885	$31,412,892 ▲	9.8%	577,556	2.2%	Consumer Discretionary
DE Deere & Company	$343,012,468	$29,156,082 ▼	-7.8%	835,117	2.1%	Industrial Products
TMO Thermo Fisher Scientific	$340,131,007	$24,898,281 ▼	-6.8%	585,216	2.1%	Medical
MELI MercadoLibre	$338,811,778	$338,811,778 ▲	New Holding	224,067	2.1%	Retail/Wholesale
BAP Credicorp	$331,029,656	$7,507,567 ▼	-2.2%	1,953,796	2.0%	Finance
XP XP	$319,463,726	$17,016,507 ▼	-5.1%	12,451,862	2.0%	Finance
DHR Danaher	$272,490,890	$23,323,299 ▼	-7.9%	1,091,188	1.7%	Multi-Sector Conglomerates
ABEV Ambev	$263,504,925	$8,239,784 ▼	-3.0%	106,254,873	1.6%	Consumer Staples
CRM Salesforce	$262,868,314	$81,193,154 ▲	44.7%	872,832	1.6%	Computer and Technology
CME CME Group	$249,507,929	$20,620,349 ▼	-7.6%	1,158,958	1.5%	Finance
ZTO ZTO Express (Cayman)	$241,502,339	$208,995,397 ▲	642.9%	11,533,063	1.5%	Transportation
ACN Accenture	$236,628,996	$39,183,943 ▼	-14.2%	682,737	1.5%	Business Services
UNH UnitedHealth Group	$235,560,805	$19,267,040 ▼	-7.6%	476,170	1.5%	Medical
ROK Rockwell Automation	$225,338,044	$22,409,672 ▼	-9.0%	773,501	1.4%	Industrial Products
PINS Pinterest	$219,595,203	$22,039,777 ▼	-9.1%	6,333,393	1.4%	Computer and Technology
AMAT Applied Materials	$211,380,284	$19,254,992 ▲	10.0%	1,024,978	1.3%	Computer and Technology
TW Tradeweb Markets	$192,169,463	$15,722,610 ▼	-7.6%	1,844,765	1.2%	Finance
NOW ServiceNow	$191,018,596	$15,951,253 ▼	-7.7%	250,556	1.2%	Computer and Technology
GLOB Globant	$182,504,114	$182,504,114 ▲	New Holding	903,956	1.1%	Computer and Technology
AVGO Broadcom	$181,961,078	$109,355,044 ▼	-37.5%	137,289	1.1%	Computer and Technology
ISRG Intuitive Surgical	$179,075,639	$19,583,704 ▼	-9.9%	448,720	1.1%	Medical
ADBE Adobe	$174,940,167	$14,691,712 ▼	-7.7%	346,696	1.1%	Computer and Technology
AME AMETEK	$173,374,964	$89,448,135 ▼	-34.0%	947,967	1.1%	Computer and Technology
SLB Schlumberger	$165,105,534	$17,803,281 ▼	-9.7%	3,012,528	1.0%	Oils/Energy
ABBV AbbVie	$159,920,462	$13,911,281 ▼	-8.0%	878,240	1.0%	Medical
AAPL Apple	$157,679,131	$38,880,547 ▼	-19.8%	919,490	1.0%	Computer and Technology
CSGP CoStar Group	$154,671,034	$12,582,210 ▼	-7.5%	1,601,191	1.0%	Computer and Technology
SNPS Synopsys	$149,966,071	$16,413,478 ▼	-9.9%	262,417	0.9%	Computer and Technology
COST Costco Wholesale	$132,137,103	$69,988,164 ▼	-34.6%	180,358	0.8%	Retail/Wholesale
BKNG Booking	$130,843,120	$130,843,120 ▲	New Holding	36,066	0.8%	Retail/Wholesale
ASML ASML	$126,670,520	$160,686,111 ▼	-55.9%	130,530	0.8%	Computer and Technology
RGEN Repligen	$121,274,338	$10,461,851 ▼	-7.9%	659,414	0.7%	Medical
HON Honeywell International	$111,735,735	$10,102,173 ▼	-8.3%	544,401	0.7%	Multi-Sector Conglomerates
GMAB Genmab A/S	$98,542,150	$144,550 ▲	0.1%	3,294,728	0.6%	Medical
TLK Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk	$97,460,227	$2,165,748 ▼	-2.2%	4,380,505	0.6%	Utilities
NOC Northrop Grumman	$96,669,729	$11,161,766 ▼	-10.4%	201,961	0.6%	Aerospace
NKE NIKE	$88,555,576	$7,817,379 ▼	-8.1%	942,289	0.5%	Consumer Discretionary
TS Tenaris	$70,797,998	$18,055,129 ▼	-20.3%	1,802,852	0.4%	Industrial Products
KASPI KZ JSC	$64,365,153	$64,365,153 ▲	New Holding	500,351	0.4%	SPONSORED ADS
EPAM EPAM Systems	$48,553,899	$3,208,151 ▼	-6.2%	175,818	0.3%	Computer and Technology
ITUB Itaú Unibanco	$41,218,268	$18,865,719 ▼	-31.4%	5,947,802	0.3%	Finance
VEU Vanguard FTSE All-World ex-US ETF	$36,014,928	$10,331,906 ▲	40.2%	614,065	0.2%	ETF
MFC Manulife Financial	$32,642,538	$220,262,062 ▼	-87.1%	1,306,224	0.2%	Finance
BBVA Banco Bilbao Vizcaya Argentaria	$30,144,569	$207,021,595 ▼	-87.3%	2,545,994	0.2%	Finance
HLN Haleon	$24,686,594	$165,253,301 ▼	-87.0%	2,907,726	0.2%	Medical
SONY Sony Group	$23,916,058	$171,572,511 ▼	-87.8%	278,937	0.1%	Consumer Discretionary
SHEL Shell	$22,908,507	$156,620,795 ▼	-87.2%	341,714	0.1%	Oils/Energy
CIB Bancolombia	$22,523,844	$4,530,797 ▼	-16.7%	658,207	0.1%	Finance
RIO Rio Tinto Group	$18,462,036	$131,067,223 ▼	-87.7%	289,646	0.1%	Basic Materials
BABA Alibaba Group	$7,550,187	$2,041,276 ▼	-21.3%	104,342	0.0%	Retail/Wholesale
INDA iShares MSCI India ETF	$7,456,096	$711,529 ▼	-8.7%	144,526	0.0%	ETF
ACWI iShares MSCI ACWI ETF	$4,649,636	$4,649,636 ▲	New Holding	42,220	0.0%	Manufacturing
VEA Vanguard FTSE Developed Markets ETF	$708,381	$69,885 ▲	10.9%	14,120	0.0%	ETF
YNDX Yandex	$270,368	$9,623 ▼	-3.4%	512,717	0.0%	Computer and Technology
NVDA NVIDIA	$0	$192,915,804 ▼	-100.0%	0	0.0%	Computer and Technology
EW Edwards Lifesciences	$0	$110,874,632 ▼	-100.0%	0	0.0%	Medical
VERALTO CORP	$0	$31,394,364 ▼	-100.0%	0	0.0%	COM SHS
ACWX iShares MSCI ACWI ex U.S. ETF	$0	$17,411,888 ▼	-100.0%	0	0.0%	Manufacturing
SCZ iShares MSCI EAFE Small-Cap ETF	$0	$10,299,417 ▼	-100.0%	0	0.0%	ETF
EFG iShares MSCI EAFE Growth ETF	$0	$4,925,307 ▼	-100.0%	0	0.0%	ETF
ST Sensata Technologies	$0	$2,343,354 ▼	-100.0%	0	0.0%	Computer and Technology
BBD Banco Bradesco	$0	$45,738 ▼	-100.0%	0	0.0%	Finance