Harding Loevner
Harding Loevner Emerging Markets Equity
Emerging markets Large-cap
Dec 2024 → Jul 2026
Our archive holds 6 letters from this strategy, behind 17 investment theses and positions in 34 companies. Every quote below is copied verbatim from the letter it came from.
6 letters in 3 years — follow all of Harding Loevner for every strategy.
What it bought and sold
We previously owned the company but sold in mid-2023 when key competitor Texas Instruments announced plans to increase its PMIC manufacturing capacity by a whopping 40%.
Also held
Its investment theses
- KakaoJun 2026Kakao is a dominant Korean social platform using network effects, AI features, and monetization initiatives to drive revenue growth and margin expansion.
- Hoa Phat GroupJun 2026Hoa Phat Group is a low-cost, integrated Vietnamese steel leader with capacity growth, tariff support, and attractive valuation.
- NaverJun 2026Naver is using an efficient AI model and a capital-light sovereign AI infrastructure strategy to reinforce its competitive position and expand into new markets.
- BochuJun 2026Bochu is using AI to expand from laser control into welding automation, lowering customer costs and improving its own return potential.
- TencentJun 2026Tencent is monetizing AI through WorkBuddy, which expands its addressable market into enterprise computing while leveraging privacy and cost advantages.
- MercadoLibreMar 2026MercadoLibre is Latin America’s leading ecommerce platform with logistics advantages, strong growth, and attractive upside from margin recovery.
- CATLMar 2026CATL is the leading EV battery and energy storage company with scale, R&D, vertical integration, and strong renewable-energy tailwinds.
- WuXi AppTecMar 2026WuXi AppTec is a scaled CRDMO with resilient demand, strong growth, and an attractive risk-adjusted valuation.
- WEGMar 2026WEG is an industrial equipment company with renewable-energy and electrification tailwinds.
- Samsung ElectronicsDec 2025Samsung Electronics is a leading memory manufacturer expected to benefit from AI-driven structural improvements, tighter supply, and record profits in 2026.