Mondrian Investment Partners

Mondrian teamLONDON, X0files as Mondrian Investment Partners LTD

$6.5bn in 111 US stocks at the end of 30 June 2026. The top 10 are 47.2% of the money. It changed about 10.9% of the portfolio this quarter.

Value

$6.5bn

Stocks

111

Top 10 share

47.2%

Turnover

10.9%

What changed this quarter

New

Bought for the first time this quarter.

DuPont de NemoursDD
1.6% of the fund
Emerson ElectricEMR
0.4% of the fund
Invesco Exchange Traded FD TRSPS
<0.1% of the fund
Ishares TRIHF
<0.1% of the fund
Ishares TRIGV
<0.1% of the fund
Sun Life FinancialSLF
<0.1% of the fund
Manulife FinancialMFC
<0.1% of the fund
Imperial OilIMO
<0.1% of the fund
Anheuser-Busch InBev SABUD
<0.1% of the fund
Ishares TRRXI
<0.1% of the fund
Vanguard World FDVFH
<0.1% of the fund
Invesco Exchange Traded FD TRSPF
<0.1% of the fund
Ishares TRWOOD
<0.1% of the fund
First TR Exchange Traded FDTDIV
<0.1% of the fund
Ishares TRIXJ
<0.1% of the fund
Spdr Series TrustXSW
<0.1% of the fund
National GridNGG
<0.1% of the fund
Ishares TRJXI
<0.1% of the fund
Ishares TREXI
<0.1% of the fund
Ishares TRIXC
<0.1% of the fund
Fidelity Covington TrustFHLC
<0.1% of the fund

Added

Bought more of a stock they already held.

Yum China HoldingsYUMC
14.3% of the fund
+23%
Sony GroupSONY
3.8% of the fund
+2%
Sanofi SASNY
3.6% of the fund
+10%
Koninklijke Philips NVPHG
3.4% of the fund
+3%
MicrosoftMSFT
3.0% of the fund
+23%
Thermo Fisher ScientificTMO
2.7% of the fund
+9%
Charles SchwabSCHW
2.6% of the fund
+8%
UnitedHealth GroupUNH
2.4% of the fund
+7%
PrologisPLD
2.2% of the fund
+10%
Dollar TreeDLTR
2.1% of the fund
+13%
Bank of AmericaBAC
2.1% of the fund
+13%
Meta PlatformsMETA
1.8% of the fund
+15%
SalesforceCRM
1.6% of the fund
+10%
WorkdayWDAY
1.2% of the fund
+6%
HDFC BankHDB
1.2% of the fund
+29%
L3harris TechnologiesLHX
1.2% of the fund
+53%
FiservFISV
0.9% of the fund
+22%
Barrick MiningB
0.7% of the fund
+21%
Taiwan Semiconductor ManufacturingTSM
0.7% of the fund
+37%
Amazon.comAMZN
0.5% of the fund
+23%
ZoetisZTS
0.3% of the fund
+3534%
PrudentialPUK
<0.1% of the fund
+132%
American TowerAMT
<0.1% of the fund
+4%
Vanguard Tax-Managed FDSVEA
<0.1% of the fund
+92%
SolventumSOLV
<0.1% of the fund
+5%

Cut

Sold some of their stake.

Lloyds Banking GroupLYG
4.5% of the fund
-4%
Banco SantanderSAN
4.1% of the fund
-13%
AlphabetGOOGL
3.0% of the fund
-8%
MerckMRK
2.9% of the fund
-7%
Texas InstrumentsTXN
2.4% of the fund
-33%
BPBP
2.3% of the fund
-11%
Petrobras - Petroleo Brasileiro SAPBR
2.2% of the fund
-19%
Vale S AVALE
2.1% of the fund
-7%
CDWCDW
1.6% of the fund
-3%
ExxonMobil HoldingsXOM
1.3% of the fund
-4%
SyscoSYY
1.2% of the fund
-51%
PepsiCoPEP
1.1% of the fund
-13%
Ishares TREFA
0.9% of the fund
-36%
Full Truck AllianceYMM
0.9% of the fund
-8%
NNN ReitNNN
0.8% of the fund
-36%
KTKT
0.7% of the fund
-8%
CredicorpBAP
0.5% of the fund
-8%
Joint Stock Co Kaspi.kzKSPI
0.5% of the fund
-8%
Ishares TRKSA
<0.1% of the fund
-50%
Eversource EnergyES
<0.1% of the fund
-7%
WatersWAT
<0.1% of the fund
-3%
KenvueKVUE
<0.1% of the fund
-99%
IsharesEWY
<0.1% of the fund
-4%
Edison InternationalEIX
<0.1% of the fund
-10%
Labcorp HoldingsLH
<0.1% of the fund
-3%

Sold out

Sold their entire stake.

DuPont de NemoursDD
-100%
Uber TechnologiesUBER
-100%
South BowSOBO
-100%
Procter & GamblePG
-100%
Canadian National RailwayCNI
-100%
PfizerPFE
-100%
UnileverUL
-100%
Union PacificUNP
-100%
NisourceNI
-100%
Cheniere EnergyLNG
-100%
Bank of Nova ScotiaBNS
-100%
B2goldBTG
-100%
Open TextOTEX
-100%

Holdings

Yum China HoldingsYUMC
Share
14.3%
Value
$930m
Shares
2,909,043
+23%
Lloyds Banking GroupLYG
Share
4.5%
Value
$291m
Shares
49,945,225
-4%
Banco SantanderSAN
Share
4.1%
Value
$268m
Shares
19,385,394
-13%
GSKGSK
Share
4.0%
Value
$257m
Shares
4,910,830
Held
Sony GroupSONY
Share
3.8%
Value
$245m
Shares
12,272,937
+2%
Sanofi SASNY
Share
3.6%
Value
$236m
Shares
5,522,564
+10%
British American Tobacco p.l.c.BTI
Share
3.5%
Value
$227m
Shares
3,682,956
Held
Koninklijke Philips NVPHG
Share
3.4%
Value
$219m
Shares
8,067,528
+3%
AlphabetGOOGL
Share
3.0%
Value
$192m
Shares
537,213
-8%
MicrosoftMSFT
Share
3.0%
Value
$192m
Shares
514,232
+23%
MerckMRK
Share
2.9%
Value
$189m
Shares
1,473,945
-7%
Thermo Fisher ScientificTMO
Share
2.7%
Value
$174m
Shares
346,262
+9%
Charles SchwabSCHW
Share
2.6%
Value
$171m
Shares
1,858,141
+8%
UnitedHealth GroupUNH
Share
2.4%
Value
$154m
Shares
370,657
+7%
Texas InstrumentsTXN
Share
2.4%
Value
$154m
Shares
515,330
-33%
BPBP
Share
2.3%
Value
$151m
Shares
4,081,768
-11%
Petrobras - Petroleo Brasileiro SAPBR
Share
2.2%
Value
$145m
Shares
8,977,218
-19%
PrologisPLD
Share
2.2%
Value
$140m
Shares
1,033,598
+10%
Vale S AVALE
Share
2.1%
Value
$139m
Shares
9,252,093
-7%
Dollar TreeDLTR
Share
2.1%
Value
$138m
Shares
1,144,955
+13%
Bank of AmericaBAC
Share
2.1%
Value
$138m
Shares
2,414,918
+13%
ShellSHEL
Share
1.9%
Value
$125m
Shares
1,617,230
Held
Meta PlatformsMETA
Share
1.8%
Value
$118m
Shares
209,858
+15%
CDWCDW
Share
1.6%
Value
$106m
Shares
755,141
-3%
DuPont de NemoursDD
Share
1.6%
Value
$106m
Shares
779,498
New
SalesforceCRM
Share
1.6%
Value
$104m
Shares
664,545
+10%
Wells Fargo & CompanyWFC
Share
1.6%
Value
$103m
Shares
1,245,361
Held
ExxonMobil HoldingsXOM
Share
1.3%
Value
$85m
Shares
621,038
-4%
WorkdayWDAY
Share
1.2%
Value
$80m
Shares
652,660
+6%
HDFC BankHDB
Share
1.2%
Value
$78m
Shares
3,027,118
+29%
L3harris TechnologiesLHX
Share
1.2%
Value
$76m
Shares
262,795
+53%
SyscoSYY
Share
1.2%
Value
$75m
Shares
903,011
-51%
PepsiCoPEP
Share
1.1%
Value
$74m
Shares
546,759
-13%
FiservFISV
Share
0.9%
Value
$59m
Shares
1,198,040
+22%
Ishares TREFA
Share
0.9%
Value
$58m
Shares
560,248
-36%
Full Truck AllianceYMM
Share
0.9%
Value
$55m
Shares
6,807,609
-8%
NNN ReitNNN
Share
0.8%
Value
$52m
Shares
1,123,643
-36%
InfosysINFY
Share
0.8%
Value
$51m
Shares
4,863,247
Held
Barrick MiningB
Share
0.7%
Value
$48m
Shares
1,318,821
+21%
Taiwan Semiconductor ManufacturingTSM
Share
0.7%
Value
$42m
Shares
88,581
+37%
KTKT
Share
0.7%
Value
$42m
Shares
2,442,234
-8%
CredicorpBAP
Share
0.5%
Value
$35m
Shares
90,935
-8%
Joint Stock Co Kaspi.kzKSPI
Share
0.5%
Value
$34m
Shares
396,336
-8%
Amazon.comAMZN
Share
0.5%
Value
$32m
Shares
134,841
+23%
Emerson ElectricEMR
Share
0.4%
Value
$26m
Shares
178,784
New
ZoetisZTS
Share
0.3%
Value
$18m
Shares
251,708
+3534%
Micron TechnologyMU
Share
0.2%
Value
$10m
Shares
8,996
Held
Qnity ElectronicsQ
Share
<0.1%
Value
$6m
Shares
37,378
Held
PrudentialPUK
Share
<0.1%
Value
$3m
Shares
102,721
+132%
Ishares TRKSA
Share
<0.1%
Value
$2m
Shares
55,845
-50%
Eversource EnergyES
Share
<0.1%
Value
$2m
Shares
27,101
-7%
WatersWAT
Share
<0.1%
Value
$2m
Shares
4,575
-3%
American TowerAMT
Share
<0.1%
Value
$2m
Shares
10,043
+4%
Vanguard Tax-Managed FDSVEA
Share
<0.1%
Value
$2m
Shares
23,040
+92%
KenvueKVUE
Share
<0.1%
Value
$1m
Shares
75,247
-99%
IsharesEWY
Share
<0.1%
Value
$1m
Shares
7,109
-4%
Edison InternationalEIX
Share
<0.1%
Value
$1m
Shares
18,360
-10%
Labcorp HoldingsLH
Share
<0.1%
Value
$1m
Shares
4,268
-3%
SolventumSOLV
Share
<0.1%
Value
$1m
Shares
15,486
+5%
McDonald'sMCD
Share
<0.1%
Value
$1m
Shares
4,287
+16%
CSXCSX
Share
<0.1%
Value
$995,944
Shares
20,954
-48%
EOG ResourcesEOG
Share
<0.1%
Value
$926,402
Shares
7,141
-21%
QualcommQCOM
Share
<0.1%
Value
$901,953
Shares
4,881
-24%
Bank of New York MellonBNY
Share
<0.1%
Value
$861,876
Shares
5,960
-9%
Honda MotorHMC
Share
<0.1%
Value
$859,596
Shares
31,837
-99%
ASE Technology HldgASX
Share
<0.1%
Value
$571,731
Shares
12,671
-5%
Novartis AGNVS
Share
<0.1%
Value
$513,016
Shares
3,273
+39%
DBX ETF TRASHR
Share
<0.1%
Value
$490,688
Shares
13,385
-4%
Dollar GeneralDG
Share
<0.1%
Value
$471,375
Shares
4,095
Held
HCA HealthcareHCA
Share
<0.1%
Value
$424,590
Shares
1,089
-29%
Vanguard Intl Equity Index FVEU
Share
<0.1%
Value
$390,642
Shares
4,664
+194%
Shinhan Financial Group CO LSHG
Share
<0.1%
Value
$335,106
Shares
5,298
-4%
Enel Chile SAENIC
Share
<0.1%
Value
$248,040
Shares
55,120
Held
Alibaba Group HldgBABA
Share
<0.1%
Value
$216,399
Shares
2,255
-9%
Invesco Exchange Traded FD TRSPS
Share
<0.1%
Value
$212,402
Shares
7,085
New
Vanguard Intl Equity Index FVWO
Share
<0.1%
Value
$179,896
Shares
3,014
-6%
Mexican Economic DevelopmentFMX
Share
<0.1%
Value
$174,991
Shares
1,368
-4%
Pacific Airport GroupPAC
Share
<0.1%
Value
$171,540
Shares
678
Held
Ishares TRIHF
Share
<0.1%
Value
$164,483
Shares
2,973
New
Ishares TRUAE
Share
<0.1%
Value
$160,214
Shares
8,428
-3%
Icici BankIBN
Share
<0.1%
Value
$157,034
Shares
5,409
Held
Netease.comNTES
Share
<0.1%
Value
$153,468
Shares
1,198
-4%
Itau Unibanco Hldg S AITUB
Share
<0.1%
Value
$146,014
Shares
17,872
-4%
Perusahaan Perseroan Persero PT Telekomunikasi Indonesia TBKTLK
Share
<0.1%
Value
$95,687
Shares
7,125
-6%
BaiduBIDU
Share
<0.1%
Value
$92,858
Shares
812
-7%
Ishares TRIGV
Share
<0.1%
Value
$74,791
Shares
826
New
Sun Life FinancialSLF
Share
<0.1%
Value
$49,217
Shares
442
New
Manulife FinancialMFC
Share
<0.1%
Value
$47,799
Shares
831
New
AutohomeATHM
Share
<0.1%
Value
$45,919
Shares
2,413
Held
Imperial OilIMO
Share
<0.1%
Value
$44,752
Shares
281
New
Nomad FoodsNOMD
Share
<0.1%
Value
$41,971
Shares
3,833
Held
WPP PLC NewWPP
Share
<0.1%
Value
$36,458
Shares
2,354
-100%
Laureate EducationLAUR
Share
<0.1%
Value
$31,816
Shares
876
Held
Vinci Compass InvestmentsVINP
Share
<0.1%
Value
$27,312
Shares
2,807
Held
Anheuser-Busch InBev SABUD
Share
<0.1%
Value
$26,911
Shares
327
New
Ishares TRRXI
Share
<0.1%
Value
$18,352
Shares
95
New
Vanguard World FDVFH
Share
<0.1%
Value
$14,617
Shares
111
New
ENI SPAE
Share
<0.1%
Value
$14,455
Shares
308
+37%
Invesco Exchange Traded FD TRSPF
Share
<0.1%
Value
$13,728
Shares
177
New
Ishares TRWOOD
Share
<0.1%
Value
$12,917
Shares
195
New

Company	Share of fund	Value	Shares	Change
Yum China HoldingsYUMC	14.3%	$930m	2,909,043	+23%
Lloyds Banking GroupLYG	4.5%	$291m	49,945,225	-4%
Banco SantanderSAN	4.1%	$268m	19,385,394	-13%
GSKGSK	4.0%	$257m	4,910,830	Held
Sony GroupSONY	3.8%	$245m	12,272,937	+2%
Sanofi SASNY	3.6%	$236m	5,522,564	+10%
British American Tobacco p.l.c.BTI	3.5%	$227m	3,682,956	Held
Koninklijke Philips NVPHG	3.4%	$219m	8,067,528	+3%
AlphabetGOOGL	3.0%	$192m	537,213	-8%
MicrosoftMSFT	3.0%	$192m	514,232	+23%
MerckMRK	2.9%	$189m	1,473,945	-7%
Thermo Fisher ScientificTMO	2.7%	$174m	346,262	+9%
Charles SchwabSCHW	2.6%	$171m	1,858,141	+8%
UnitedHealth GroupUNH	2.4%	$154m	370,657	+7%
Texas InstrumentsTXN	2.4%	$154m	515,330	-33%
BPBP	2.3%	$151m	4,081,768	-11%
Petrobras - Petroleo Brasileiro SAPBR	2.2%	$145m	8,977,218	-19%
PrologisPLD	2.2%	$140m	1,033,598	+10%
Vale S AVALE	2.1%	$139m	9,252,093	-7%
Dollar TreeDLTR	2.1%	$138m	1,144,955	+13%
Bank of AmericaBAC	2.1%	$138m	2,414,918	+13%
ShellSHEL	1.9%	$125m	1,617,230	Held
Meta PlatformsMETA	1.8%	$118m	209,858	+15%
CDWCDW	1.6%	$106m	755,141	-3%
DuPont de NemoursDD	1.6%	$106m	779,498	New
SalesforceCRM	1.6%	$104m	664,545	+10%
Wells Fargo & CompanyWFC	1.6%	$103m	1,245,361	Held
ExxonMobil HoldingsXOM	1.3%	$85m	621,038	-4%
WorkdayWDAY	1.2%	$80m	652,660	+6%
HDFC BankHDB	1.2%	$78m	3,027,118	+29%
L3harris TechnologiesLHX	1.2%	$76m	262,795	+53%
SyscoSYY	1.2%	$75m	903,011	-51%
PepsiCoPEP	1.1%	$74m	546,759	-13%
FiservFISV	0.9%	$59m	1,198,040	+22%
Ishares TREFA	0.9%	$58m	560,248	-36%
Full Truck AllianceYMM	0.9%	$55m	6,807,609	-8%
NNN ReitNNN	0.8%	$52m	1,123,643	-36%
InfosysINFY	0.8%	$51m	4,863,247	Held
Barrick MiningB	0.7%	$48m	1,318,821	+21%
Taiwan Semiconductor ManufacturingTSM	0.7%	$42m	88,581	+37%
KTKT	0.7%	$42m	2,442,234	-8%
CredicorpBAP	0.5%	$35m	90,935	-8%
Joint Stock Co Kaspi.kzKSPI	0.5%	$34m	396,336	-8%
Amazon.comAMZN	0.5%	$32m	134,841	+23%
Emerson ElectricEMR	0.4%	$26m	178,784	New
ZoetisZTS	0.3%	$18m	251,708	+3534%
Micron TechnologyMU	0.2%	$10m	8,996	Held
Qnity ElectronicsQ	<0.1%	$6m	37,378	Held
PrudentialPUK	<0.1%	$3m	102,721	+132%
Ishares TRKSA	<0.1%	$2m	55,845	-50%
Eversource EnergyES	<0.1%	$2m	27,101	-7%
WatersWAT	<0.1%	$2m	4,575	-3%
American TowerAMT	<0.1%	$2m	10,043	+4%
Vanguard Tax-Managed FDSVEA	<0.1%	$2m	23,040	+92%
KenvueKVUE	<0.1%	$1m	75,247	-99%
IsharesEWY	<0.1%	$1m	7,109	-4%
Edison InternationalEIX	<0.1%	$1m	18,360	-10%
Labcorp HoldingsLH	<0.1%	$1m	4,268	-3%
SolventumSOLV	<0.1%	$1m	15,486	+5%
McDonald'sMCD	<0.1%	$1m	4,287	+16%
CSXCSX	<0.1%	$995,944	20,954	-48%
EOG ResourcesEOG	<0.1%	$926,402	7,141	-21%
QualcommQCOM	<0.1%	$901,953	4,881	-24%
Bank of New York MellonBNY	<0.1%	$861,876	5,960	-9%
Honda MotorHMC	<0.1%	$859,596	31,837	-99%
ASE Technology HldgASX	<0.1%	$571,731	12,671	-5%
Novartis AGNVS	<0.1%	$513,016	3,273	+39%
DBX ETF TRASHR	<0.1%	$490,688	13,385	-4%
Dollar GeneralDG	<0.1%	$471,375	4,095	Held
HCA HealthcareHCA	<0.1%	$424,590	1,089	-29%
Vanguard Intl Equity Index FVEU	<0.1%	$390,642	4,664	+194%
Shinhan Financial Group CO LSHG	<0.1%	$335,106	5,298	-4%
Enel Chile SAENIC	<0.1%	$248,040	55,120	Held
Alibaba Group HldgBABA	<0.1%	$216,399	2,255	-9%
Invesco Exchange Traded FD TRSPS	<0.1%	$212,402	7,085	New
Vanguard Intl Equity Index FVWO	<0.1%	$179,896	3,014	-6%
Mexican Economic DevelopmentFMX	<0.1%	$174,991	1,368	-4%
Pacific Airport GroupPAC	<0.1%	$171,540	678	Held
Ishares TRIHF	<0.1%	$164,483	2,973	New
Ishares TRUAE	<0.1%	$160,214	8,428	-3%
Icici BankIBN	<0.1%	$157,034	5,409	Held
Netease.comNTES	<0.1%	$153,468	1,198	-4%
Itau Unibanco Hldg S AITUB	<0.1%	$146,014	17,872	-4%
Perusahaan Perseroan Persero PT Telekomunikasi Indonesia TBKTLK	<0.1%	$95,687	7,125	-6%
BaiduBIDU	<0.1%	$92,858	812	-7%
Ishares TRIGV	<0.1%	$74,791	826	New
Sun Life FinancialSLF	<0.1%	$49,217	442	New
Manulife FinancialMFC	<0.1%	$47,799	831	New
AutohomeATHM	<0.1%	$45,919	2,413	Held
Imperial OilIMO	<0.1%	$44,752	281	New
Nomad FoodsNOMD	<0.1%	$41,971	3,833	Held
WPP PLC NewWPP	<0.1%	$36,458	2,354	-100%
Laureate EducationLAUR	<0.1%	$31,816	876	Held
Vinci Compass InvestmentsVINP	<0.1%	$27,312	2,807	Held
Anheuser-Busch InBev SABUD	<0.1%	$26,911	327	New
Ishares TRRXI	<0.1%	$18,352	95	New
Vanguard World FDVFH	<0.1%	$14,617	111	New
ENI SPAE	<0.1%	$14,455	308	+37%
Invesco Exchange Traded FD TRSPF	<0.1%	$13,728	177	New
Ishares TRWOOD	<0.1%	$12,917	195	New

Showing the largest 100 of 111.

Over time and by industry

Value over time

Dec '25

Jun '26

Value is up 8.2% since 30 September 2025.

Where the money is

Retail & consumer14.9%

Financial services13.2%

Health care11.7%

Technology11.3%

Everyday goods8.0%

Energy5.9%

Media & telecom5.4%

Industrials3.2%

Real estate3.0%

Materials0.7%

Utilities0.1%

Other22.6%

From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.