# EDGAR Filing Document

**Accession Number:** 0001018170
**File Stem:** 0001145549-25-042071
**Filing Date:** 2025-6
**Character Count:** 25422
**Document Hash:** a43b2273d155e7543dd66bbd4d564386
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-042071.hdr.sgml**: 20250626

**ACCESSION NUMBER**: 0001145549-25-042071

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250626

**DATE AS OF CHANGE**: 20250626

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HARDING LOEVNER FUNDS INC
- **CENTRAL INDEX KEY:** 0001018170

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07739
- **FILM NUMBER:** 251076233

**BUSINESS ADDRESS:**
- **STREET 1:** 400 CROSSING BLVD.
- **STREET 2:** FOURTH FLOOR
- **CITY:** BRIDGEWATER
- **STATE:** NJ
- **ZIP:** 08807
- **BUSINESS PHONE:** 8774358105

**MAIL ADDRESS:**
- **STREET 1:** 333 S. WABASH AVENUE
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60604

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HLM FUNDS INC/ FA
- **DATE OF NAME CHANGE:** 19960705

## Series and Classes Contracts Data

### Harding Loevner International Equity Portfolio (Series ID: S000004199)

| Class ID   | Class Name            | Ticker Symbol   |
|:---|:---|:---|
| C000011817 | Institutional         | HLMIX           |
| C000011818 | Investor              | HLMNX           |
| C000179658 | Institutional Class Z | HLIZX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** HARDING LOEVNER FUNDS INC

- **b. Investment Company Act file number:** 811-07739

- **c. CIK number of Registrant:** 0001018170

- **d. LEI of Registrant:** 549300RX80LYD8D1FL23

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 400 Crossing Blvd.

  - **City:** Bridgewater

  - **State:** NJ

  - **Foreign country:** US

  - **Zip / Postal Code:** 08807

  - **Telephone number:** 877-435-8105

**Item A.2. Information about the Series.**

- **a. Name of Series:** Harding Loevner International Equity Portfolio

- **b. EDGAR series identifier (if any):** S000004199

- **c. LEI of Series:** 54930019D84J5JKRXI44

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-04-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $12224505644.35

**Total Liabilities:** $15472122.30

**Net Assets:** $12209033522.05

**Cash Not Reported:** $1234994.00

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000011817 | 2.97%                | -0.35%               | 3.09%                |
| Class ID C000011818 | 2.93%                | -0.35%               | 3.09%                |
| Class ID C000179658 | 2.97%                | -0.35%               | 3.13%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $83550263.98             | $274184979.76                              |
| Month 2  | $233484161.59            | $-302787766.81                             |
| Month 3  | $3380583.40              | $315119515.55                              |

### Schedule of Portfolio Investments

| Name                                             | Title                                                                 | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Adyen NV                                         | Adyen NV EUR0.01                                                      | CUSIP: N3501V104<br>LEI: 724500973ODKK3IFQ447 | Long             | EC               | CORP              | NL        |     98025 | NS      | $158879533.23 | 1.30%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Tencent Holdings Ltd.                            | Tencent Holdings Ltd. HKD0.00002                                      | CUSIP: G87572163<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | KY        |   3162410 | NS      | $196239501.03 | 1.61%             |  |  |  | No            |                  2 | On Loan: No      |
| SAP SE                                           | SAP SE SPON ADR EA REP 1 ORD NPV                                      | CUSIP: 803054204<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |    568257 | NS      | $166039012.83 | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Assa Abloy AB                                    | Assa Abloy AB SER'B'NPV                                               | CUSIP: W0817X204<br>LEI: 549300YECS8HKCIMMB67 | Long             | EC               | CORP              | SE        |   4694112 | NS      | $140889919.60 | 1.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Haier Smart Home Co Ltd.                         | Haier Smart Home Co Ltd. 'A'CNY1                                      | CUSIP: Y7166P102<br>LEI: 3003002BYTNGNJTWSH07 | Long             | EC               | CORP              | CN        |  40913488 | NS      | $139686644.82 | 1.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Haleon PLC                                       | Haleon PLC ORD GBP0.01                                                | CUSIP: G4232K100<br>LEI: 549300PSB3WWEODCUP19 | Long             | EC               | CORP              | GB        |  70330592 | NS      | $352435824.15 | 2.89%             |  |  |  | No            |                  2 | On Loan: No      |
| AIA Group Ltd, Hong Kong                         | AIA Group Ltd, Hong Kong NPV                                          | CUSIP: Y002A1105<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | EC               | CORP              | HK        |  36692574 | NS      | $277215977.07 | 2.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Novonesis (Novozymes) B                          | Novonesis (Novozymes) B SER'B'DKK2                                    | CUSIP: K7317J133<br>LEI: 529900T6WNZXD2R3JW38 | Long             | EC               | CORP              | DK        |   1584510 | NS      | $102833002.79 | 0.84%             |  |  |  | No            |                  2 | On Loan: No      |
| ASML Holding N.V.                                | ASML Holding N.V. EUR0.09                                             | CUSIP: N07059202<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |    409451 | NS      | $274097611.58 | 2.25%             |  |  |  | No            |                  2 | On Loan: No      |
| ZTO Express (Cayman) Inc.                        | ZTO Express (Cayman) Inc. SPON ADS EA REP 1 SHS CL A                  | CUSIP: 98980A105<br>LEI: 549300SCJPK3YZJTJR78 | Long             | EC               | CORP              | KY        |   6157026 | NS      | $113904981.00 | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| DBS Group Holdings Ltd.                          | DBS Group Holdings Ltd. NPV                                           | CUSIP: Y20246107<br>LEI: 5493007FKT78NKPM5V55 | Long             | EC               | CORP              | SG        |  13492818 | NS      | $441126403.44 | 3.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Techtronic Industries Co. Ltd.                   | Techtronic Industries Co. Ltd. NPV                                    | CUSIP: Y8563B159<br>LEI: 549300HZW2SBE758OK89 | Long             | EC               | CORP              | HK        |   8892500 | NS      | $90464080.82  | 0.74%             |  |  |  | No            |                  2 | On Loan: No      |
| Ping An Insurance (Group) Company of China Ltd.  | Ping An Insurance (Group) Company of China Ltd. 'H' CNY1              | CUSIP: Y69790106<br>LEI: 529900M9MC28JLN35U89 | Long             | EC               | CORP              | CN        |  14280000 | NS      | $86472546.26  | 0.71%             |  |  |  | No            |                  2 | On Loan: No      |
| Chugai Pharmaceutical Co Ltd.                    | Chugai Pharmaceutical Co Ltd. NPV                                     | CUSIP: J06930101<br>LEI: 529900T9LAII161DCN95 | Long             | EC               | CORP              | JP        |   7875900 | NS      | $454954108.77 | 3.73%             |  |  |  | No            |                  2 | On Loan: No      |
| Symrise AG                                       | Symrise AG NPV (BR)                                                   | CUSIP: D827A1108<br>LEI: 529900D82I6R9601CF26 | Long             | EC               | CORP              | DE        |   1250835 | NS      | $143906575.55 | 1.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Daifuku Co Ltd.                                  | Daifuku Co Ltd. NPV                                                   | CUSIP: J08988107<br>LEI: 3538006FG1W4X3MYHL36 | Long             | EC               | CORP              | JP        |   5068800 | NS      | $135053242.84 | 1.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Delta Electronics Inc.                           | Delta Electronics Inc. TWD10                                          | CUSIP: Y20263102<br>LEI: 529900UVZWNWGDLJSM52 | Long             | EC               | CORP              | TW        |  15998000 | NS      | $167438173.51 | 1.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Keyence Corp.                                    | Keyence Corp. NPV                                                     | CUSIP: J32491102<br>LEI: 529900M7PQBS7A89DZ11 | Long             | EC               | CORP              | JP        |    299434 | NS      | $125758132.40 | 1.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Komatsu Ltd.                                     | Komatsu Ltd. NPV                                                      | CUSIP: J35759125<br>LEI: 5493004LQ0B4T7QPQV17 | Long             | EC               | CORP              | JP        |   5627200 | NS      | $161884783.42 | 1.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Air Liquide S.A.(L')                             | Air Liquide S.A.(L') EUR5.50                                          | CUSIP: F01764103<br>LEI: 969500MMPQVHK671GT54 | Long             | EC               | CORP              | FR        |    775125 | NS      | $159451015.32 | 1.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Shionogi & Co Ltd.                               | Shionogi & Co Ltd. NPV                                                | CUSIP: J74229105<br>LEI: 35380049VXDTHZI3DY35 | Long             | EC               | CORP              | JP        |   7969100 | NS      | $133842395.57 | 1.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Sony Group Corp.                                 | Sony Group Corp. NPV                                                  | CUSIP: J76379106<br>LEI: 529900R5WX9N2OI2N910 | Long             | EC               | CORP              | JP        |  14840100 | NS      | $383052139.96 | 3.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Mercadolibre Inc                                 | Mercadolibre Inc COM USD0.001                                         | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |    105924 | NS      | $246892955.40 | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Sysmex Corp.                                     | Sysmex Corp. NPV                                                      | CUSIP: J7864H102<br>LEI: 5299001ZO4CKWACMZI55 | Long             | EC               | CORP              | JP        |  11451421 | NS      | $212866464.18 | 1.74%             |  |  |  | No            |                  2 | On Loan: No      |
| Unicharm Corp.                                   | Unicharm Corp. NPV                                                    | CUSIP: J94104114<br>LEI: 353800UQ4BZIJTAQEG85 | Long             | EC               | CORP              | JP        |  17117600 | NS      | $158782488.15 | 1.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Roche Holding AG                                 | Roche Holding AG GENUSSCHEINE NPV                                     | CUSIP: H69293217<br>LEI: 549300U41AUUVOAAOB37 | Long             | EP               | CORP              | CH        |   1003544 | NS      | $327366208.49 | 2.68%             |  |  |  | No            |                  2 | On Loan: No      |
| Alfa Laval AB                                    | Alfa Laval AB NPV                                                     | CUSIP: W04008152<br>LEI: 549300UCKT2UK88AG251 | Long             | EC               | CORP              | SE        |   5067262 | NS      | $211428890.51 | 1.73%             |  |  |  | No            |                  2 | On Loan: No      |
| Sonova Holding AG                                | Sonova Holding AG CHF0.05 (REGD)                                      | CUSIP: H8024W106<br>LEI: 5299004A0QNX7FBNHS61 | Long             | EC               | CORP              | CH        |    388041 | NS      | $118745473.68 | 0.97%             |  |  |  | No            |                  2 | On Loan: No      |
| Atlas Copco AB                                   | Atlas Copco AB SER'A'NPV                                              | CUSIP: W1R924252<br>LEI: 213800T8PC8Q4FYJZR07 | Long             | EC               | CORP              | SE        |  12793596 | NS      | $200694366.27 | 1.64%             |  |  |  | No            |                  2 | On Loan: No      |
| Rio Tinto PLC                                    | Rio Tinto PLC ORD GBP0.10                                             | CUSIP: G75754104<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |   3118084 | NS      | $185911227.96 | 1.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Coloplast AS                                     | Coloplast AS SER'B'DKK1                                               | CUSIP: K16018192<br>LEI: 529900NN7SOJ5QG82X67 | Long             | EC               | CORP              | DK        |    930318 | NS      | $105678978.33 | 0.87%             |  |  |  | No            |                  2 | On Loan: No      |
| Telkom Indonesia(Persero) Tbk PT                 | Telkom Indonesia(Persero) Tbk PT SER'B'IDR50                          | CUSIP: Y71474145<br>LEI: 529900M5SQZAOKV1PC81 | Long             | EC               | CORP              | ID        | 716443400 | NS      | $114216929.49 | 0.94%             |  |  |  | No            |                  2 | On Loan: No      |
| Credicorp Ltd.                                   | Credicorp Ltd. COM USD5                                               | CUSIP: G2519Y108<br>LEI: 529900UYAEYQCQ2BKB17 | Long             | EC               | CORP              | BM        |    744175 | NS      | $150464743.25 | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Financiero Banorte S.A.B. de C.V.          | Grupo Financiero Banorte S.A.B. de C.V. COM NPV SERIES O              | CUSIP: P49501201<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |  15336000 | NS      | $131787701.49 | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co., Ltd.     | Taiwan Semiconductor Manufacturing Co., Ltd. SPON ADS REP 5 ORD TWD10 | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |   2230641 | NS      | $371825548.29 | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| BHP Group Ltd.                                   | BHP Group Ltd. SPON ADS EACH REP 2 ORD SHS                            | CUSIP: 088606108<br>LEI: WZE1WSENV6JSZFK0JC28 | Long             | EC               | CORP              | AU        |   3568573 | NS      | $169685646.15 | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian National Railway Company                | Canadian National Railway Company COM NPV                             | CUSIP: 136375102<br>LEI: 3SU7BEP7TH9YEQOZCS77 | Long             | EC               | CORP              | CA        |   1023207 | NS      | $99066901.74  | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Fomento Economico Mexicano S A B de C V          | Fomento Economico Mexicano S A B de C V SPON ADR RP 10 UTS(1B&2D-B&   | CUSIP: 344419106<br>LEI: 549300A8MDWDJNMLV153 | Long             | EC               | CORP              | MX        |   2341095 | NS      | $246540714.45 | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| NetEase Inc.                                     | NetEase Inc. SPON ADS EACH REP 25 ORD SH                              | CUSIP: 64110W102<br>LEI: 5299004AF4DSJDB0PA32 | Long             | EC               | CORP              | KY        |   1244472 | NS      | $133233172.32 | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC Bank Ltd.                                   | HDFC Bank Ltd. SPON ADS EACH REP 3 ORD SHS                            | CUSIP: 40415F101<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |   5828618 | NS      | $423682242.42 | 3.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Nestle SA                                        | Nestle SA SPON ADR REPR 1 COM CHF0.10                                 | CUSIP: 641069406<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |   2489184 | NS      | $265322122.56 | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Schneider Electric SE                            | Schneider Electric SE EUR4.00                                         | CUSIP: F86921107<br>LEI: 969500A1YF1XUYYXS284 | Long             | EC               | CORP              | FR        |   1292316 | NS      | $302814279.41 | 2.48%             |  |  |  | No            |                  2 | On Loan: No      |
| L'Oreal S.A.                                     | L'Oreal S.A. EUR0.20                                                  | CUSIP: F58149133<br>LEI: 529900JI1GG6F7RKVI53 | Long             | EC               | CORP              | FR        |    601899 | NS      | $264122851.92 | 2.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Genmab As                                        | Genmab As DKK1                                                        | CUSIP: K3967W102<br>LEI: 529900MTJPDPE4MHJ122 | Long             | EC               | CORP              | DK        |    443206 | NS      | $93568383.46  | 0.77%             |  |  |  | No            |                  2 | On Loan: No      |
| Skandinaviska Enskilda Banken AB (publ)          | Skandinaviska Enskilda Banken AB (publ) SER'A'NPV                     | CUSIP: W25381141<br>LEI: F3JS33DEI6XQ4ZBPTN86 | Long             | EC               | CORP              | SE        |  13215625 | NS      | $210495564.77 | 1.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Electronics Co Ltd.                      | Samsung Electronics Co Ltd. GDR EACH REP 25 COM STK KRW100(REG S)     | CUSIP: 796050888<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |    286134 | NS      | $278897239.08 | 2.28%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA               | Banco Bilbao Vizcaya Argentaria SA EUR0.49                            | CUSIP: E11805103<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | EC               | CORP              | ES        |  13230555 | NS      | $181858761.39 | 1.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Allianz SE                                       | Allianz SE NPV(REGD)(VINKULIERT)                                      | CUSIP: D03080112<br>LEI: 529900K9B0N5BT694847 | Long             | EC               | CORP              | DE        |   1120787 | NS      | $462880793.43 | 3.79%             |  |  |  | No            |                  2 | On Loan: No      |
| Northern Institutional Funds                     | Northern Institutional Funds TREAS PRT PRMR                           | CUSIP: 665279873<br>LEI: 549300Y178DO5JBR1S04 | Long             | STIV             | RF                | US        | 285972853 | NS      | $285972852.87 | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Manulife Financial Corporation                   | Manulife Financial Corporation COM NPV                                | CUSIP: 56501R106<br>LEI: 5493007GBX87QOZACS27 | Long             | EC               | CORP              | CA        |  11225962 | NS      | $344042430.36 | 2.82%             |  |  |  | No            |                  1 | On Loan: No      |
| DISCO Corp.                                      | DISCO Corp. NPV                                                       | CUSIP: J12327102<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    532800 | NS      | $103429934.15 | 0.85%             |  |  |  | No            |                  2 | On Loan: No      |
| Alcon AG                                         | Alcon AG CHF0.04                                                      | CUSIP: H01301128<br>LEI: 549300LDT5AP8S0NBM78 | Long             | EC               | CORP              | CH        |   2318102 | NS      | $226269936.22 | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Epiroc AB                                        | Epiroc AB SER'A'NPV                                                   | CUSIP: W25918124<br>LEI: 5493004Q73OEYW1SPE91 | Long             | EC               | CORP              | SE        |   7807054 | NS      | $167371297.66 | 1.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Shenzhen Mindray Bio-Medical Electronics Co Ltd. | Shenzhen Mindray Bio-Medical Electronics Co Ltd. A CNY1               | CUSIP: Y774E3101<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |   2926764 | NS      | $88504746.41  | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Linde PLC                                        | Linde PLC COM EUR0.001                                                | CUSIP: G54950103<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |    419282 | NS      | $190031180.86 | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Alimentation Couche-Tard Inc.                    | Alimentation Couche-Tard Inc. COM                                     | CUSIP: 01626P148<br>LEI: 549300OSW32RVX8CCZ87 | Long             | EC               | CORP              | CA        |   3168965 | NS      | $165413260.84 | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell PLC                                        | Shell PLC ORD EUR0.07                                                 | CUSIP: G80827101<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |  10684984 | NS      | $341868973.88 | 2.80%             |  |  |  | No            |                  2 | On Loan: No      |
| Dassault Systemes                                | Dassault Systemes EUR0.10                                             | CUSIP: F24571451<br>LEI: 96950065LBWY0APQIM86 | Long             | EC               | CORP              | FR        |   3272443 | NS      | $122161496.80 | 1.00%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-05-28

**Name of Applicant:** HARDING LOEVNER FUNDS INC

**Signature:** Tracy L. Dotolo

**Name of Signer:** Tracy L. Dotolo

**Title:** Chief Financial Officer