# EDGAR Filing Document

**Accession Number:** 0001018170
**File Stem:** 0001145549-25-042070
**Filing Date:** 2025-6
**Character Count:** 23781
**Document Hash:** bb45253763283847b45e1db3ec0c65ec
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-042070.hdr.sgml**: 20250626

**ACCESSION NUMBER**: 0001145549-25-042070

**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:** 251076232

**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

### Emerging Markets ex China Portfolio (Series ID: S000076791)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000236826 | Institutional Class | HLXCX           |

## 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:** Emerging Markets Ex China Portfolio

- **b. EDGAR series identifier (if any):** S000076791

- **c. LEI of Series:** 5493001UZMV27UTBH025

**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:** $3391994.34

**Total Liabilities:** $40078.09

**Net Assets:** $3351916.25

**Cash Not Reported:** $72.82

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000236826 | -3.68%               | -0.57%               | 4.32%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $595.87                  | $-129952.22                                |
| Month 2  | $0.00                    | $-17937.75                                 |
| Month 3  | $-1190.25                | $129744.82                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Itau Unibanco Holding SA                       | Itau Unibanco Holding SA ADR EACH REPR 1 PRF NPV                           | CUSIP: 465562106<br>LEI: 5493002W2IVG62O3ZJ94 | Long             | EC               | CORP              | BR        |     11251 | NS      | $70993.81     | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Baltic Classifieds Group PLC                   | Baltic Classifieds Group PLC ORD GBP0.01                                   | CUSIP: G07167102<br>LEI: 213800I1RPHCFSSQS969 | Long             | EC               | CORP              | GB        |     15165 | NS      | $69056.80     | 2.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Agthia Group Pjsc                              | Agthia Group Pjsc COM STK AED1                                             | CUSIP: M02421101<br>LEI: 984500EB43881B7AD148 | Long             | EC               | CORP              | AE        |     25666 | NS      | $31636.88     | 0.94%             |  |  |  | No            |                  2 | On Loan: No      |
| Globant S.A                                    | Globant S.A USD1.20                                                        | CUSIP: L44385109<br>LEI: 2221008DCMSPYS42DS88 | Long             | EC               | CORP              | LU        |       454 | NS      | $53376.78     | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegro.eu SA                                  | Allegro.eu SA PLN0.01                                                      | CUSIP: L0R67D109<br>LEI: 222100VRLXV3FPMG4982 | Long             | EC               | CORP              | LU        |      4837 | NS      | $42284.01     | 1.26%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Northern Institutional Funds                   | Northern Institutional Funds TREAS PRT PRMR                                | CUSIP: 665279873<br>LEI: 549300Y178DO5JBR1S04 | Long             | STIV             | RF                | US        |     62191 | NS      | $62190.98     | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| ASPEED Technology Inc.                         | ASPEED Technology Inc. TWD10                                               | CUSIP: Y04044106<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |       300 | NS      | $28247.02     | 0.84%             |  |  |  | No            |                  2 | On Loan: No      |
| HDFC Asset Management Co Ltd.                  | HDFC Asset Management Co Ltd. INR5                                         | CUSIP: Y3R1AG299<br>LEI: 3358002FLK8AK8WSEP31 | Long             | EC               | CORP              | IN        |      1068 | NS      | $54917.46     | 1.64%             |  |  |  | Yes           |                  2 | On Loan: No      |
| HDFC Bank Ltd.                                 | HDFC Bank Ltd. INR1                                                        | CUSIP: Y3119P190<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |      7314 | NS      | $166727.09    | 4.97%             |  |  |  | No            |                  2 | On Loan: No      |
| Mouwasat Medical Services Co                   | Mouwasat Medical Services Co SAR10                                         | CUSIP: M7065G107<br>LEI: N/A                  | Long             | EC               | CORP              | SA        |      1743 | NS      | $33620.54     | 1.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Wal-Mart De Mexico                             | Wal-Mart De Mexico COM NPV                                                 | CUSIP: P98180188<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |     20300 | NS      | $64335.18     | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Wilcon Depot Inc                               | Wilcon Depot Inc PHP1                                                      | CUSIP: Y9584X105<br>LEI: N/A                  | Long             | EC               | CORP              | PH        |    225700 | NS      | $27569.25     | 0.82%             |  |  |  | No            |                  2 | On Loan: No      |
| HDFC Life Insurance Co Ltd.                    | HDFC Life Insurance Co Ltd. INR10                                          | CUSIP: Y3R1AP109<br>LEI: 335800RQI8GAFHIRGZ37 | Long             | EC               | CORP              | IN        |      9668 | NS      | $85218.46     | 2.54%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Mercadolibre Inc                               | Mercadolibre Inc COM USD0.001                                              | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |        43 | NS      | $100226.55    | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| ICICI Bank Ltd.                                | ICICI Bank Ltd. INR2                                                       | CUSIP: Y3860Z132<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |      8846 | NS      | $148782.09    | 4.44%             |  |  |  | No            |                  2 | On Loan: No      |
| B3 S.A. - Brasil, Bolsa, Balcao                | B3 S.A. - Brasil, Bolsa, Balcao COM NPV                                    | CUSIP: P1909G107<br>LEI: 4GTK5S46E6H318LMDS44 | Long             | EC               | CORP              | BR        |      8300 | NS      | $19729.35     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Standard Bank Group Ltd.                       | Standard Bank Group Ltd. ZAR0.1                                            | CUSIP: S80605140<br>LEI: 2549003PEZXUT7MDBU41 | Long             | EC               | CORP              | ZA        |      4662 | NS      | $58071.69     | 1.73%             |  |  |  | No            |                  2 | On Loan: No      |
| Clicks Group Ltd.                              | Clicks Group Ltd. ZAR0.01                                                  | CUSIP: S17249111<br>LEI: 378900E967958A677472 | Long             | EC               | CORP              | ZA        |      2059 | NS      | $43943.84     | 1.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank Rakyat Indonesia (Persero) Tbk            | Bank Rakyat Indonesia (Persero) Tbk IDR50                                  | CUSIP: Y0697U112<br>LEI: 254900HB6S4B12GBNP64 | Long             | EC               | CORP              | ID        |    152400 | NS      | $35894.31     | 1.07%             |  |  |  | No            |                  2 | On Loan: No      |
| EPAM Systems Inc.                              | EPAM Systems Inc. COM USD0.001                                             | CUSIP: 29414B104<br>LEI: 549300XCR4R530HJP604 | Long             | EC               | CORP              | US        |       227 | NS      | $35618.57     | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Astra International Tbk PT                     | Astra International Tbk PT IDR50                                           | CUSIP: Y7117N172<br>LEI: 529900L49TRJOMG4DK47 | Long             | EC               | CORP              | ID        |    143100 | NS      | $41411.75     | 1.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Bupa Arabia For Cooperative Insurance Co.      | Bupa Arabia For Cooperative Insurance Co. SAR10                            | CUSIP: M20515116<br>LEI: 558600B2WJHD5P31XS68 | Long             | EC               | CORP              | SA        |       812 | NS      | $36760.98     | 1.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Bangkok Dusit Medical Services Public Co Ltd.  | Bangkok Dusit Medical Services Public Co Ltd. THB0.1 (ALIEN)               | CUSIP: Y06071255<br>LEI: N/A                  | Long             | EC               | CORP              | TH        |     42200 | NS      | $30318.81     | 0.90%             |  |  |  | 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        |    116100 | NS      | $18508.91     | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Credicorp Ltd.                                 | Credicorp Ltd. COM USD5                                                    | CUSIP: G2519Y108<br>LEI: 529900UYAEYQCQ2BKB17 | Long             | EC               | CORP              | BM        |       116 | NS      | $23454.04     | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Bancolombia SA                                 | Bancolombia SA SPON ADS EACH REP 4 PRF SHS                                 | CUSIP: 05968L102<br>LEI: 54930052NWJRPNMP1W58 | Long             | EC               | CORP              | CO        |       918 | NS      | $37013.76     | 1.10%             |  |  |  | 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        |      6700 | NS      | $57575.48     | 1.72%             |  |  |  | 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        |       661 | NS      | $69609.91     | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenaris SA                                     | Tenaris SA SPONS ADS EA REP 2 ORD SHS                                      | CUSIP: 88031M109<br>LEI: 549300Y7C05BKC4HZB40 | Long             | EC               | CORP              | LU        |      1435 | NS      | $47771.15     | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Safaricom Public Limited Company               | Safaricom Public Limited Company KES0.05                                   | CUSIP: V74587102<br>LEI: N/A                  | Long             | EC               | CORP              | KE        |    241300 | NS      | $32729.46     | 0.98%             |  |  |  | No            |                  2 | On Loan: No      |
| Copa Holdings SA                               | Copa Holdings SA NPV CLASS 'A'                                             | CUSIP: P31076105<br>LEI: 529900BB9UQJV6QQHA59 | Long             | EC               | CORP              | PA        |       315 | NS      | $28904.40     | 0.86%             |  |  |  | No            |                  1 | 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        |       120 | NS      | $116965.02    | 3.49%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Asian Paints Ltd.                              | Asian Paints Ltd. INR1                                                     | CUSIP: Y03638114<br>LEI: 335800HEHXGYRUNERD75 | Long             | EC               | CORP              | IN        |      1512 | NS      | $43424.53     | 1.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Kaspi.Kz JSC                                   | Kaspi.Kz JSC SPONSORED ADS                                                 | CUSIP: 48581R205<br>LEI: 2549003YU6FARG8OAZ13 | Long             | EC               | CORP              | KZ        |       737 | NS      | $64774.93     | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Commercial International Bank (Egypt) SAE      | Commercial International Bank (Egypt) SAE GDR EACH REPR 1 ORD EGP10 REG'S' | CUSIP: 201712205<br>LEI: 213800FIIXJAMEVRIH48 | Long             | EC               | CORP              | EG        |     23683 | NS      | $36961.77     | 1.10%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Weg SA                                         | Weg SA COM NPV                                                             | CUSIP: P9832B129<br>LEI: 254900NKQV127YFRO022 | Long             | EC               | CORP              | BR        |      8800 | NS      | $69219.67     | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheil Worldwide Inc.                           | Cheil Worldwide Inc. KRW200                                                | CUSIP: Y1296G108<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      4408 | NS      | $57561.21     | 1.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Jollibee Foods Corp.                           | Jollibee Foods Corp. PHP1                                                  | CUSIP: Y4466S100<br>LEI: 2138009XN3KTAAKUPR35 | Long             | EC               | CORP              | PH        |     11800 | NS      | $48201.24     | 1.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Coway Co Ltd.                                  | Coway Co Ltd. KRW500                                                       | CUSIP: Y1786S109<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      1570 | NS      | $96835.13     | 2.89%             |  |  |  | No            |                  2 | On Loan: No      |
| NAVER Corp.                                    | NAVER Corp. KRW100                                                         | CUSIP: Y62579100<br>LEI: 988400ULUQYDB2HQYJ61 | Long             | EC               | CORP              | KR        |       388 | NS      | $54788.48     | 1.63%             |  |  |  | No            |                  2 | On Loan: No      |
| Bumrungrad Hospital Public Co Ltd.             | Bumrungrad Hospital Public Co Ltd. THB1(ALIEN)                             | CUSIP: Y1002E256<br>LEI: N/A                  | Long             | EC               | CORP              | TH        |      8100 | NS      | $40008.98     | 1.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Tata Consultancy Services Ltd.                 | Tata Consultancy Services Ltd. INR1                                        | CUSIP: Y85279100<br>LEI: 335800ZJKU9GPQRE2U66 | Long             | EC               | CORP              | IN        |      3259 | NS      | $133302.03    | 3.98%             |  |  |  | No            |                  2 | On Loan: No      |
| Delta Electronics Inc.                         | Delta Electronics Inc. TWD10                                               | CUSIP: Y20263102<br>LEI: 529900UVZWNWGDLJSM52 | Long             | EC               | CORP              | TW        |      4000 | NS      | $41864.78     | 1.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Hon Hai Precision Industry Co Ltd.             | Hon Hai Precision Industry Co Ltd. TWD10                                   | CUSIP: Y36861105<br>LEI: 30030004CM3GSZXX7O56 | Long             | EC               | CORP              | TW        |      8000 | NS      | $35547.45     | 1.06%             |  |  |  | No            |                  2 | On Loan: No      |
| International Container Terminal Services Inc. | International Container Terminal Services Inc. PHP1                        | CUSIP: Y41157101<br>LEI: 254900FU1MWK0I0Q4J61 | Long             | EC               | CORP              | PH        |      7500 | NS      | $46068.84     | 1.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co., Ltd.   | Taiwan Semiconductor Manufacturing Co., Ltd. TWD10                         | CUSIP: Y84629107<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     11500 | NS      | $327820.95    | 9.78%             |  |  |  | No            |                  2 | On Loan: No      |
| Raia Drogasil SA                               | Raia Drogasil SA COM NPV                                                   | CUSIP: P7942C102<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |      8900 | NS      | $31113.89     | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola HBC AG                               | Coca-Cola HBC AG ORD CHF6.70(CDI)                                          | CUSIP: H1512E100<br>LEI: 549300EFP3TNG7JGVE49 | Long             | EC               | CORP              | CH        |      1106 | NS      | $57488.71     | 1.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Maruti Suzuki India Ltd.                       | Maruti Suzuki India Ltd. INR5                                              | CUSIP: Y7565Y100<br>LEI: 335800D27PBEESKKD357 | Long             | EC               | CORP              | IN        |       987 | NS      | $142980.16    | 4.27%             |  |  |  | No            |                  2 | On Loan: No      |
| AL Rajhi Banking & Investment Corp             | AL Rajhi Banking & Investment Corp SAR10                                   | CUSIP: M0R60D105<br>LEI: 558600BQZS4Y1DTU8589 | Long             | EC               | CORP              | SA        |      2320 | NS      | $60648.97     | 1.81%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank Central Asia Tbk PT                       | Bank Central Asia Tbk PT IDR12.50                                          | CUSIP: Y7123P138<br>LEI: 254900BR956G2OHVOM21 | Long             | EC               | CORP              | ID        |     69100 | NS      | $37137.39     | 1.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Bajaj Auto Ltd.                                | Bajaj Auto Ltd. INR10                                                      | CUSIP: Y05490100<br>LEI: 335800DLAO5NCNN8G863 | Long             | EC               | CORP              | IN        |       455 | NS      | $43336.95     | 1.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Emaar Properties PJSC                          | Emaar Properties PJSC AED1                                                 | CUSIP: M4025S107<br>LEI: 254900YWYEXYXK1BMP81 | Long             | EC               | CORP              | AE        |     30960 | NS      | $110595.64    | 3.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Airtac International Group                     | Airtac International Group TWD10                                           | CUSIP: G01408106<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |      1200 | NS      | $33148.92     | 0.99%             |  |  |  | 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