GFNORTEO-MX

GFNORTEO-MX

GFNORTEO-MX

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2024 Q2	Jul 30, 2024	Artemis Global Select Fund	0.5%	-	7911.T, 7958.T, AAL.L, CPRI.MI, DG.PA, EICHERMOT.NS, EL, FUJIFILM, GFNORTEO.MX, HDB, ICE, META, MTX.DE, MUFG, NKE, RIO, RVTY, RYAAY, TCOM, TMO, TSM	AI, China, consumer, global, healthcare, India, semiconductors, technology	The fund benefited from strong returns across semiconductor holdings as the generative AI demand boom feeds through to the supporting hardware supply chain. Taiwan Semiconductor Manufacturing Company saw meaningful sales and profit growth as clients attempt to meet surging demand for AI chips.	GFNORTEO.MX RYA.L EL EICHERMOT.NS HDB TSM	View
2025 Q2	Jul 16, 2025	Harding Loevner International Equity	9.2%	14.8%	002352.SZ, 005930.KS, 0669.HK, 0700.HK, 1299.HK, 2057.HK, 2308.TW, 2318.HK, 2330.TW, 300760.SZ, 4507.T, 4519.T, 4684.T, 6146.T, 6301.T, 6383.T, 6690.HK, 6758.T, 6861.T, 6869.T, 8113.T, ADYEN.AS, AI.PA, ALC, ALFA.ST, ALV.DE, ASML, ASSA-B.ST, ATCO-A.ST, ATD.TO, BAP, BBVA, BHP, CNR, COLOB.CO, D05.SI, DSY.PA, EPI-A.ST, FMX, GFNORTEO.MX, GMAB, HDB, HLN.L, LIN, MELI, MFC, NESN.SW, NTES, NVS, NZYM-B.CO, OR.PA, RIO, ROG.SW, RYA.L, SAF.PA, SAP, SEB-A.ST, SHEL, SOON.SW, SU.PA, SY1.DE, TLKM	aerospace, AI, defense, Europe, Health Care, international	Health care equities have underperformed despite strong fundamentals due to political and regulatory uncertainty in the US and beyond. Policy risks include drug pricing reforms, Medicaid funding cuts, and reduced NIH funding. However, the sector's structural advantages remain intact with continued innovation like GLP-1 therapies.		View
2025 Q3	Oct 28, 2025	abrdn Emerging Markets Fund	14.0%	27.2%	000333.SZ, 1810.HK, 2308.TW, 2330.TW, 267270.KS, 300750.SZ, 3690.HK, 3711.TW, 4904.TW, BABA, GFNORTEO.MX, GMEXICOB.MX, GODREJPROP.NS, HDFCBANK.NS, INDHOTEL.NS, INFY.NS, NTPC.NS, POWERGRID.NS, SBILIFE.NS, SLM.JO, TCS.NS	AI, China, emerging markets, Energy Transition, India, semiconductors, technology, Trade Policy	Chinese tech holdings, particularly AI-related names, rallied as investors anticipated benefits from wider AI trends supported by Beijing's localization drive. AI delivery has become critical to the US economy with the theme broadening across both sides of the Pacific. The fund maintains exposure to various sections of the AI supply chain from semiconductor manufacturing to data center-oriented names.		View
2024 Q2	Jul 18, 2024	Harding Loevner Emerging Markets Equity	12.2%	11.6%	005930.KS, 0700.HK, 1211.HK, 1398.HK, 2330.TW, B3SA3.SA, BABA, CATL, EPAM, GFNORTEO.MX, GLOB, HDFCBANK.NS, ITUB, MARUTI.NS, MELI, RENT3.SA, TCS.NS, TS, TSMC, XP	AI, China, Elections, emerging markets, financials, semiconductors, underperformance, valuation	Strong performance driven by AI supply chain in Taiwan, particularly TSMC and semiconductor companies benefiting from NVIDIA chip orders. Portfolio holds AI-enabling companies like Aspeed which saw accelerating growth from hyperscalers and rising demand for traditional and AI servers.	ICICIBANK.NS RADL3.SA	View
2024 Q2	Jul 18, 2024	Harding Loevner International Equity	9.5%	11.5%	700.HK, ALV.DE, ASML, BAP, BBVA, BHP.AX, D05.SI, GFNORTEO.MX, HDFC.NS, ICICIBANK.NS, IFX.DE, LIN, NESN.SW, NVDA, NVO, OR.PA, RIO, SAP.DE, SHEL, TSM	AI, Banking, emerging markets, international, M&A, Political Risk, semiconductors, technology	AI beneficiaries like semiconductors and semiconductor equipment surged by double digits, with TSMC continuing to soar on sustained demand for AI-related chips for NVIDIA and others. Returns within IT were bifurcated as direct AI beneficiaries outperformed while software & services fell.		View
2024 Q2	Jun 30, 2024	abrdn Emerging Markets Fund	-3.0%	-1.4%	005930.KS, 009540.KS, 0700.HK, 1880.HK, 2020.HK, 2308.TW, 2454.TW, 300274.SZ, 300750.SZ, 4958.TW, 600519.SS, ASM.AS, BBNI.JK, BBRI.JK, FEMSA.MX, GFNORTEO.MX, ITSA4.SA, RADL3.SA, TSM, ULTRACEMCO.NS	AI, China, emerging markets, India, Latin America, semiconductors, Taiwan, technology	Artificial intelligence drove a tech rally in Taiwan and benefited semiconductor positions. AI demand accelerated requirements for high bandwidth memory chips and supported hyperscaler demand for networking equipment.		View
2023 Q4	Jan 31, 2024	Harding Loevner Emerging Markets Equity	12.2%	11.6%	005930.KS, 1211.HK, 1398.HK, 2015.HK, AIA, ASIANPAINT.NS, BABA, EPAM, FEMSA, GFNORTEO.MX, GLOB, HDFCBANK.NS, ITUB, JD, MARUTI.NS, TCEHY, TCS.NS, TENARIS, TSM, WALMEX.MX	China, Electric Vehicles, emerging markets, India, Manufacturing, technology, value	China performed poorly despite reopening optimism, falling 11% for the year due to real estate deleveraging, weak consumer confidence, and geopolitical tensions. However, the manager sees significant opportunities in Chinese companies with strong growth prospects and competitive advantages in manufacturing and technology.		View
2023 Q4	Jan 31, 2024	Ariel International Fund	7.6%	0.0%	005930.KS, 105560.KS, 7270.T, AAPL, AD.AS, AMZN, BIDU, DBOEY, FMC, GFNORTEO.MX, GOOGL, META, ML.PA, MSFT, NVDA, TEF2.DE, TSLA, TSM, WIZZ.L	AI, financials, international, semiconductors, technology, undervalued, value	Ariel's non-consensus approach seeks to identify undervalued, out-of-favor franchises that are misunderstood and therefore mispriced. The fund is finding many mispriced stocks where valuation is attractive, profitability less vulnerable and balance sheets remain strong.	WIZZ.L AIR FP\|ICLR\|LIN\|MRVL\|NOW\|TSM 005930.KS 105560.KS GFNORTEO.MX FMS.DE DANSKE.CO AD.AS 7270.T BIDU	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 28, 2026	Fund Letters	Ariel International Fund	Grupo Financiero Banorte SAB de CV	Financials	Banks	Bull	Mexican Stock Exchange	Consumer loans, credit quality, low-cost deposits, Mexican Bank, Nearshoring, net interest margin, return on equity	View Pitch
Apr 13, 2026	Fund Letters	Artemis Global Select Fund	Grupo Financiero Banorte	Financials	Banks	Bull	BMV	banking, Collaborative Government, Emerging markets, financial services, Mexico, political risk	View Pitch

BSD Shareholders of GFNORTEO-MX

This report provides a detailed summary of investor holdings for a specified stock ticker, highlighting key metrics such as fund name, total assets under management (AUM), invested value, portfolio weight, and shares owned. It also tracks changes in share ownership during the last quarter, including the percentage of shares bought or sold and the percentage of outstanding shares owned. The data is generated using an API that processes investor holdings and calculates these values for each fund. This report helps investors and analysts monitor the stock positions of major funds, identify investment trends, and assess the influence of large investors on individual stocks.

Filing Date: September 30, 2025

Manager Name	Fund Name	Fund AUM	Invested Value	Portfolio Weight	Shares Owned	Shares Bought / Sold During Quarter	% Bought / Sold During Quarter	% of Shares Outstanding Owned
No investor data available.

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