Harding Loevner Institutional Emerging Markets Portfolio - Portfolio Holdings as of June 30, 2021

Ticker Name Sector Asset Class Country Currency Par/Shares Price ($) Market Value ($) % of Fund 2330_TT Taiwan Semiconductor Information Technology Stock TW TWD 16,657,277 21.35 $355,713,946 5.04% SMSN_LI Samsung Electronics (Voting) GDR Reg S Information Technology Stock KR USD 187,622 1784.67 $334,842,681 4.74% 700_HK Tencent Holdings Communication Services Stock CN HKD 3,995,700 75.22 $300,553,105 4.26% EPAM EPAM Systems Information Technology Stock US USD 516,183 510.96 $263,748,866 3.74% 9988_HK Alibaba Consumer Discretionary Stock CN HKD 7,096,216 28.33 $201,055,688 2.85% 051900_KS LG Household & Health Care Consumer Staples Stock KR KRW 117,592 1564.79 $184,006,630 2.61% 1299_HK AIA Group Financials Stock HK HKD 14,354,615 12.43 $178,408,916 2.53% NVTK_LI NovaTek GDR Reg S Energy Stock RU USD 747,464 219.42 $164,011,305 2.32% TCS_IN Tata Consultancy Services Information Technology Stock IN INR 3,610,940 45.06 $162,697,095 2.31% SBER_LI Sberbank GDR Financials Stock RU USD 9,463,382 16.59 $157,017,046 2.22% LUKOY Lukoil ADR Energy Stock RU USD 1,655,964 92.00 $152,348,688 2.16% HDFC_IN Housing Development Finance Co Financials Stock IN INR 4,485,806 33.36 $149,664,397 2.12% 669_HK Techtronic Industrials Stock HK HKD 8,153,801 17.50 $142,701,362 2.02% CCH_LN Coca-Cola HBC Consumer Staples Stock GB GBP 3,890,968 36.17 $140,718,963 1.99% YNDX Yandex Communication Services Stock RU USD 1,761,962 70.75 $124,658,812 1.77% 1476_TT Eclat Consumer Discretionary Stock TW TWD 4,985,031 23.56 $117,426,381 1.66% 2688_HK ENN Energy Utilities Stock CN HKD 6,106,200 19.04 $116,239,922 1.65% GFNORTEO_ GF Financials Stock MX MXN 17,149,900 6.46 $110,776,619 1.57% MM 2317_TT Hon Hai Precision Information Technology Stock TW TWD 26,931,031 4.02 $108,255,737 1.53% 2382_HK Sunny Optical Information Technology Stock CN HKD 3,353,700 31.52 $105,714,055 1.50% 000333_C2 Midea Group (China A) Consumer Discretionary Stock CN CNY 9,530,664 11.05 $105,282,130 1.49% BABA Alibaba Group Holding Consumer Discretionary Stock CN USD 461,576 226.78 $104,676,205 1.48% 2269_HK Wuxi Biologics Cayman Health Care Stock CN HKD 5,605,500 18.33 $102,742,048 1.46% 1093_HK CSPC Pharmaceutical Group Health Care Stock CN HKD 70,180,080 1.45 $101,600,255 1.44% WALMEX*_M Wal-Mart de Mexico Consumer Staples Stock MX MXN 30,645,000 3.26 $100,033,618 1.42% M 2313_HK Shenzhou Consumer Discretionary Stock CN HKD 3,901,000 25.26 $98,531,506 1.40% 1590_TT Airtac Industrials Stock TW TWD 2,548,000 38.59 $98,329,881 1.39%

The security weights above are calculated as a percentage of the fund’s net assets. Disclosure: Mention of a specific security should not be considered a Page 1 of 3 recommendation to buy or a solicitation to sell that security. Holdings listed are as of the date of publication and are subject to change. Investors should carefully consider the Fund’s investment objectives, risks, charges and expenses before investing. For this and other information, please call 800.835.3879 or visit www.amgfunds.com to download a free prospectus. Read it carefully before investing or sending money. The Harding Loevner Funds are distributed by Quasar Distributors, LLC. Harding Loevner Institutional Emerging Markets Portfolio - Portfolio Holdings as of June 30, 2021

Ticker Name Sector Asset Class Country Currency Par/Shares Price ($) Market Value ($) % of Fund 2318_HK Ping An Insurance Financials Stock CN HKD 10,032,500 9.76 $97,946,678 1.39% BBD ADR Financials Stock BR USD 17,829,327 5.13 $91,464,448 1.30% 1928_HK Sands China Consumer Discretionary Stock HK HKD 21,376,538 4.21 $90,032,502 1.28% FMX FEMSA ADR Consumer Staples Stock MX USD 1,040,233 84.51 $87,910,091 1.25% KMB_IN Kotak Mahindra Bank Financials Stock IN INR 3,665,850 22.97 $84,195,720 1.19% 3606_HK Fuyao Glass Industry Group Consumer Discretionary Stock CN HKD 11,721,000 7.05 $82,579,173 1.17% ITUB Itau Unibanco (Pref) ADR Financials Stock BR USD 13,148,342 6.01 $79,021,535 1.12% MSIL_IN Maruti Suzuki India Consumer Discretionary Stock IN INR 771,464 101.21 $78,082,556 1.11% HDB HDFC Bank ADR Financials Stock IN USD 1,052,209 73.12 $76,937,522 1.09% SAFCOM_KN Safaricom Communication Services Stock KE KES 198,683,027 0.38 $76,322,802 1.08% ABEV Ambev ADR Consumer Staples Stock BR USD 21,960,957 3.44 $75,545,692 1.07% RENT3_BZ Localiza Rent a Car Industrials Stock BR BRL 5,668,770 12.87 $72,942,475 1.03% BBRI_IJ Bank Rakyat Financials Stock ID IDR 263,691,900 0.27 $71,651,454 1.02% 601888_C1 China Tourism Group Duty Free Consumer Discretionary Stock CN CNY 1,501,000 46.42 $69,676,459 0.99% ASR Grupo Aeroportuario del Sureste ADR Industrials Stock MX USD 347,424 184.90 $64,238,698 0.91% 3008_TT Largan Precision Information Technology Stock TW TWD 560,000 111.26 $62,305,967 0.88% 9888_HK Baidu Communication Services Stock CN HKD 2,407,808 25.68 $61,838,327 0.88% 6415_TT Silergy Information Technology Stock TW TWD 443,122 136.03 $60,275,725 0.85% 6098_HK Country Garden Services Industrials Stock CN HKD 5,451,504 10.81 $58,911,825 0.83% 300454_C2 Sangfor Information Technology Stock CN CNY 1,446,800 40.14 $58,075,855 0.82% SCB/F_TB Siam Commercial Bank Financials Stock TH THB 18,971,870 3.06 $58,010,710 0.82% DSY_SJ Discovery Holdings Financials Stock ZA ZAR 6,314,272 8.84 $55,832,324 0.79% 522_HK ASM Pacific Technology Information Technology Stock HK HKD 4,108,897 13.55 $55,675,245 0.79% BBCA_IJ Bank Central Asia Financials Stock ID IDR 26,258,633 2.08 $54,556,101 0.77% 036570_KS NCSoft Communication Services Stock KR KRW 73,650 727.86 $53,606,825 0.76% TS Tenaris ADR Energy Stock IT USD 2,408,780 21.90 $52,752,282 0.75% B3SA3_BZ Financials Stock BR BRL 15,521,400 3.38 $52,489,032 0.74% SBK_SJ Standard Bank Financials Stock ZA ZAR 5,452,528 8.94 $48,740,099 0.69% 021240_KS Coway Consumer Discretionary Stock KR KRW 688,987 69.89 $48,153,390 0.68%

The security weights above are calculated as a percentage of the fund’s net assets. Disclosure: Mention of a specific security should not be considered a Page 2 of 3 recommendation to buy or a solicitation to sell that security. Holdings listed are as of the date of publication and are subject to change. Investors should carefully consider the Fund’s investment objectives, risks, charges and expenses before investing. For this and other information, please call 800.835.3879 or visit www.amgfunds.com to download a free prospectus. Read it carefully before investing or sending money. The Harding Loevner Funds are distributed by Quasar Distributors, LLC. Harding Loevner Institutional Emerging Markets Portfolio - Portfolio Holdings as of June 30, 2021

Ticker Name Sector Asset Class Country Currency Par/Shares Price ($) Market Value ($) % of Fund JOBS 51job ADR Industrials Stock CN USD 604,902 77.77 $47,043,229 0.67% KOMB_CP Komercni Banka Financials Stock CZ CZK 1,299,877 35.20 $45,756,081 0.65% 002690_C2 Meyer Optoelectronic Industrials Stock CN CNY 5,212,200 8.62 $44,941,027 0.64% WEGE3_BZ WEG Industrials Stock BR BRL 6,520,692 6.77 $44,167,862 0.63% 002050_C2 Sanhua Industrials Stock CN CNY 11,283,183 3.71 $41,845,774 0.59% CIB (Pref) ADR Financials Stock CO USD 1,290,067 28.80 $37,153,930 0.53% NETW_LN Network International Information Technology Stock GB GBP 6,817,126 5.06 $34,491,336 0.49% LREN3_BZ Lojas Renner Consumer Discretionary Stock BR BRL 3,797,000 8.89 $33,765,192 0.48% 002352_C2 SF Holding Industrials Stock CN CNY 3,104,800 10.47 $32,503,338 0.46% 090430_KS Amorepacific Consumer Staples Stock KR KRW 139,045 223.51 $31,078,555 0.44% CBKD_LI Commercial International Bank GDR Financials Stock EG USD 9,265,400 3.28 $30,431,634 0.43% CDR_PW CD Projekt Communication Services Stock PL PLN 585,625 48.53 $28,420,707 0.40% CPA Copa Holdings Industrials Stock PA USD 375,707 75.33 $28,302,008 0.40% ASII_IJ Astra International Consumer Discretionary Stock ID IDR 81,489,200 0.34 $27,762,527 0.39% 600276_C1 Jiangsu Hengrui Medicine Health Care Stock CN CNY 2,500,920 10.51 $26,287,575 0.37% UGPA3_BZ Participacoes SA Energy Stock BR BRL 6,647,078 3.70 $24,576,735 0.35% SMSD_LI Samsung Electronics (Pref) GDR Reg S Information Technology Stock KR USD 14,808 1629.05 $24,123,022 0.34% 1177_HK Sino Biopharmaceutical Health Care Stock CN HKD 24,174,135 0.98 $23,725,759 0.34% 9901_HK New Oriental Education Consumer Discretionary Stock CN HKD 2,559,576 8.18 $20,947,763 0.30% BSAC ADR Financials Stock CL USD 822,558 19.87 $16,344,227 0.23% BGEO_LN Bank of Georgia Financials Stock GB GBP 713,964 18.60 $13,278,439 0.19% ZTO ZTO Express Cayman ADR Industrials Stock CN USD 423,746 30.35 $12,860,691 0.18% EABL_KN East African Breweries Consumer Staples Stock KE KES 6,241,665 1.67 $10,453,626 0.15% CBD Cia Brasileira de Distribuicao ADR Consumer Staples Stock BR USD 1,301,993 7.79 $10,142,525 0.14% UGPA1_BZ Ultrapar Participacoes Right Energy Stock BR BRL 8,199,333 0.01 $65,940 0.00% Cash Cash Currency 0 $105,812,023 1.50%

The security weights above are calculated as a percentage of the fund’s net assets. Disclosure: Mention of a specific security should not be considered a Page 3 of 3 recommendation to buy or a solicitation to sell that security. Holdings listed are as of the date of publication and are subject to change. Investors should carefully consider the Fund’s investment objectives, risks, charges and expenses before investing. For this and other information, please call 800.835.3879 or visit www.amgfunds.com to download a free prospectus. Read it carefully before investing or sending money. The Harding Loevner Funds are distributed by Quasar Distributors, LLC.