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      <seriesId>S000022393</seriesId>
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        <isRestrictedSec>Y</isRestrictedSec>
        
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        <name>BDO UNIBANK INC</name>
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        <fairValLevel>2</fairValLevel>
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        <pctVal>3.2683749679</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>VN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HELIOS TOWERS PLC</name>
        <lei>213800DGC7GS4XCHCU30</lei>
        <title>HELIOS TOWERS PLC ORD GBP0.01</title>
        <cusip>G4431S102</cusip>
        <identifiers>
          <isin value="GB00BJVQC708"/>
          <ticker value="HTWSF"/>
        </identifiers>
        <balance>901871</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7348888"/>
        <valUSD>2460645.6</valUSD>
        <pctVal>2.1035647933</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CENTURY PACIFIC FOOD INC</name>
        <lei>254900NFV7QTJB821G52</lei>
        <title>CENTURY PACIFIC FOOD INC PHP1</title>
        <cusip>Y1249R102</cusip>
        <identifiers>
          <isin value="PHY1249R1024"/>
          <ticker value="CNPF"/>
        </identifiers>
        <balance>1806700</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="61.475"/>
        <valUSD>838513.89</valUSD>
        <pctVal>0.7168315087</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AKDITAL SA</name>
        <lei>N/A</lei>
        <title>AKDITAL SA MAD10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="MA0000012585"/>
          <ticker value="AKT"/>
        </identifiers>
        <balance>15611</balance>
        <units>NS</units>
        <currencyConditional curCd="MAD" exchangeRt="9.23575"/>
        <valUSD>2061853.16</valUSD>
        <pctVal>1.7626438022</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COMMERCIAL INTERNATIONAL BANK EGYPT SAE</name>
        <lei>213800FIIXJAMEVRIH48</lei>
        <title>COMMERCIAL INTERNATIONAL BANK EGYPT SAE GDR EACH REPR 1 ORD EGP10 REG'S'</title>
        <cusip>201712205</cusip>
        <identifiers>
          <isin value="US2017122050"/>
          <ticker value="CMGGF"/>
        </identifiers>
        <balance>1280435</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3186516.97</valUSD>
        <pctVal>2.7241000945</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>EG</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANCA TRANSILVANIA SA</name>
        <lei>549300RG3H390KEL8896</lei>
        <title>BANCA TRANSILVANIA SA RON10</title>
        <cusip>X0308Q105</cusip>
        <identifiers>
          <isin value="ROTLVAACNOR1"/>
          <ticker value="TLV"/>
        </identifiers>
        <balance>609758</balance>
        <units>NS</units>
        <currencyConditional curCd="RON" exchangeRt="4.4266"/>
        <valUSD>5000288.22</valUSD>
        <pctVal>4.2746628186</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>RO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MOUWASAT MEDICAL SERVICES COMPANY</name>
        <lei>N/A</lei>
        <title>MOUWASAT MEDICAL SERVICES COMPANY SAR10</title>
        <cusip>M7065G107</cusip>
        <identifiers>
          <isin value="SA12C051UH11"/>
          <ticker value="4002"/>
        </identifiers>
        <balance>85682</balance>
        <units>NS</units>
        <currencyConditional curCd="SAR" exchangeRt="3.7505"/>
        <valUSD>1554412.8</valUSD>
        <pctVal>1.3288415204</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SOCIETATEA NATIONALA DE GAZE NATURALE ROMGAZ SA</name>
        <lei>2549009R7KJ38D9RW354</lei>
        <title>SOCIETATEA NATIONALA DE GAZE NATURALE ROMGAZ SA RON1</title>
        <cusip>X8T90R107</cusip>
        <identifiers>
          <isin value="ROSNGNACNOR3"/>
          <ticker value="SNG"/>
        </identifiers>
        <balance>383678</balance>
        <units>NS</units>
        <currencyConditional curCd="RON" exchangeRt="4.4266"/>
        <valUSD>1062136.23</valUSD>
        <pctVal>0.9080025092</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>RO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MOBILE WORLD INVESTMENT CORP</name>
        <lei>254900ZRFNB8CRAHHO95</lei>
        <title>MOBILE WORLD INVESTMENT CORP VND10000</title>
        <cusip>Y604K2105</cusip>
        <identifiers>
          <isin value="VN000000MWG0"/>
          <ticker value="MWG"/>
        </identifiers>
        <balance>1581100</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26355"/>
        <valUSD>5079178.55</valUSD>
        <pctVal>4.3421048430</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>VN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WILCON DEPOT INC</name>
        <lei>N/A</lei>
        <title>WILCON DEPOT INC PHP1</title>
        <cusip>Y9584X105</cusip>
        <identifiers>
          <isin value="PHY9584X1055"/>
          <ticker value="WLCNF"/>
        </identifiers>
        <balance>5018300</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="61.475"/>
        <valUSD>507960.95</valUSD>
        <pctVal>0.4342473255</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GRUPO CIBEST SA</name>
        <lei>529900OSSJBGZREZ2C28</lei>
        <title>GRUPO CIBEST SA SPON ADS</title>
        <cusip>40090E106</cusip>
        <identifiers>
          <isin value="US40090E1064"/>
          <ticker value="CIB"/>
        </identifiers>
        <balance>62769</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4280218.11</valUSD>
        <pctVal>3.6590869176</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JOLLIBEE FOODS CORP</name>
        <lei>2138009XN3KTAAKUPR35</lei>
        <title>JOLLIBEE FOODS CORP PHP1</title>
        <cusip>Y4466S100</cusip>
        <identifiers>
          <isin value="PHY4466S1007"/>
          <ticker value="JBFCF"/>
        </identifiers>
        <balance>901150</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="61.475"/>
        <valUSD>2333020.05</valUSD>
        <pctVal>1.9944598439</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF THE PHILIPPINE ISLANDS</name>
        <lei>549300UW4UH6XT2X8C50</lei>
        <title>BANK OF THE PHILIPPINE ISLANDS PHP10</title>
        <cusip>Y0967S169</cusip>
        <identifiers>
          <isin value="PHY0967S1694"/>
          <ticker value="BPHLF"/>
        </identifiers>
        <balance>1123450</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="61.475"/>
        <valUSD>1640709.03</valUSD>
        <pctVal>1.4026147250</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BUMRUNGRAD HOSPITAL PCL</name>
        <lei>N/A</lei>
        <title>BUMRUNGRAD HOSPITAL PCL THB1(ALIEN)</title>
        <cusip>Y1002E256</cusip>
        <identifiers>
          <isin value="TH0168A10Z19"/>
          <ticker value="BUHPF"/>
        </identifiers>
        <balance>141900</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="32.5975"/>
        <valUSD>785733.57</valUSD>
        <pctVal>0.6717104953</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MAROC TELECOM SA - ITISSALAT AL-MAGHRIB</name>
        <lei>254900LH0G1ZIZ78Y462</lei>
        <title>MAROC TELECOM SA - ITISSALAT AL-MAGHRIB MAD6</title>
        <cusip>V5721T117</cusip>
        <identifiers>
          <isin value="MA0000011488"/>
          <ticker value="MAOTF"/>
        </identifiers>
        <balance>150844</balance>
        <units>NS</units>
        <currencyConditional curCd="MAD" exchangeRt="9.23575"/>
        <valUSD>1561655.7</valUSD>
        <pctVal>1.3350333546</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VIETNAM DAIRY PRODUCTS JSC</name>
        <lei>549300148GRJ07D21X63</lei>
        <title>VIETNAM DAIRY PRODUCTS JSC VND10000</title>
        <cusip>Y9365V104</cusip>
        <identifiers>
          <isin value="VN000000VNM8"/>
          <ticker value="VNM"/>
        </identifiers>
        <balance>770394</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26355"/>
        <valUSD>1790087.62</valUSD>
        <pctVal>1.5303159847</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>VN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KRKA TOVARNA ZDRAVIL DD</name>
        <lei>549300H9RLRTRTLRUZ73</lei>
        <title>KRKA TOVARNA ZDRAVIL DD NPV</title>
        <cusip>X4571Y100</cusip>
        <identifiers>
          <isin value="SI0031102120"/>
          <ticker value="KRKAF"/>
        </identifiers>
        <balance>8638</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".8520427"/>
        <valUSD>2475720.13</valUSD>
        <pctVal>2.1164517570</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INTERNATIONAL CONTAINER TERMINAL SERVICES INC</name>
        <lei>254900FU1MWK0I0Q4J61</lei>
        <title>INTERNATIONAL CONTAINER TERMINAL SERVICES INC PHP1</title>
        <cusip>Y41157101</cusip>
        <identifiers>
          <isin value="PHY411571011"/>
          <ticker value="ICTEF"/>
        </identifiers>
        <balance>444130</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="61.475"/>
        <valUSD>5167161.51</valUSD>
        <pctVal>4.4173200049</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BRAC BANK PLC</name>
        <lei>254900EHCK80ARTPIK21</lei>
        <title>BRAC BANK PLC BDT10</title>
        <cusip>Y0969T108</cusip>
        <identifiers>
          <isin value="BD0138BRACB9"/>
          <ticker value="BRACBANK"/>
        </identifiers>
        <balance>1724234</balance>
        <units>NS</units>
        <currencyConditional curCd="BDT" exchangeRt="123.1"/>
        <valUSD>1023712.87</valUSD>
        <pctVal>0.8751550210</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BD</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SM PRIME HOLDINGS INC</name>
        <lei>254900SZK83MIAB8CU32</lei>
        <title>SM PRIME HOLDINGS INC ORD PHP1</title>
        <cusip>Y8076N112</cusip>
        <identifiers>
          <isin value="PHY8076N1120"/>
          <ticker value="SPHXF"/>
        </identifiers>
        <balance>7194300</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="61.475"/>
        <valUSD>2225434.26</valUSD>
        <pctVal>1.9024865503</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SQUARE PHARMA PLC</name>
        <lei>254900R3NU1J5X39Y909</lei>
        <title>SQUARE PHARMA PLC BDT10</title>
        <cusip>Y8132X104</cusip>
        <identifiers>
          <isin value="BD0473SQPH00"/>
          <ticker value="SQPHF"/>
        </identifiers>
        <balance>447046</balance>
        <units>NS</units>
        <currencyConditional curCd="BDT" exchangeRt="123.1"/>
        <valUSD>771378.96</valUSD>
        <pctVal>0.6594389792</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BD</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNIVERSAL ROBINA CORP</name>
        <lei>N/A</lei>
        <title>UNIVERSAL ROBINA CORP PHP1</title>
        <cusip>Y9297P100</cusip>
        <identifiers>
          <isin value="PHY9297P1004"/>
          <ticker value="UVRBF"/>
        </identifiers>
        <balance>798550</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="61.475"/>
        <valUSD>796380.56</valUSD>
        <pctVal>0.6808124291</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SODEP MARSA MAROC</name>
        <lei>N/A</lei>
        <title>SODEP MARSA MAROC MAD10</title>
        <cusip>V8006D104</cusip>
        <identifiers>
          <isin value="MA0000012312"/>
          <ticker value="MSA"/>
        </identifiers>
        <balance>50097</balance>
        <units>NS</units>
        <currencyConditional curCd="MAD" exchangeRt="9.23575"/>
        <valUSD>4541163.67</valUSD>
        <pctVal>3.8821649151</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KCB GROUP PLC</name>
        <lei>N/A</lei>
        <title>KCB GROUP PLC KES10</title>
        <cusip>V5337U128</cusip>
        <identifiers>
          <isin value="KE0000000315"/>
          <ticker value="KNYCF"/>
        </identifiers>
        <balance>1836400</balance>
        <units>NS</units>
        <currencyConditional curCd="KES" exchangeRt="129.15"/>
        <valUSD>952832.85</valUSD>
        <pctVal>0.8145608767</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FPT CORP</name>
        <lei>N/A</lei>
        <title>FPT CORP VND10000</title>
        <cusip>Y26333107</cusip>
        <identifiers>
          <isin value="VN000000FPT1"/>
          <ticker value="FPT"/>
        </identifiers>
        <balance>807475</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26355"/>
        <valUSD>2312033.26</valUSD>
        <pctVal>1.9765185879</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>VN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EQUITY BANK (KENYA) LTD</name>
        <lei>2549004UU5YYSKKYY479</lei>
        <title>EQUITY BANK (KENYA) LTD KES0.50</title>
        <cusip>V3254M104</cusip>
        <identifiers>
          <isin value="KE0000000554"/>
          <ticker value="EQTY"/>
        </identifiers>
        <balance>1813400</balance>
        <units>NS</units>
        <currencyConditional curCd="KES" exchangeRt="129.15"/>
        <valUSD>1032046.19</valUSD>
        <pctVal>0.8822790370</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AL RAJHI BANK</name>
        <lei>558600BQZS4Y1DTU8589</lei>
        <title>AL RAJHI BANK SAR10</title>
        <cusip>M0R60D105</cusip>
        <identifiers>
          <isin value="SA0007879113"/>
          <ticker value="1120"/>
        </identifiers>
        <balance>48390</balance>
        <units>NS</units>
        <currencyConditional curCd="SAR" exchangeRt="3.7505"/>
        <valUSD>886264.4</valUSD>
        <pctVal>0.7576526215</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK CENTRAL ASIA TBK PT</name>
        <lei>254900BR956G2OHVOM21</lei>
        <title>BANK CENTRAL ASIA TBK PT IDR12.50</title>
        <cusip>Y7123P138</cusip>
        <identifiers>
          <isin value="ID1000109507"/>
          <ticker value="PBCRF"/>
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        <balance>3321600</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="17310"/>
        <valUSD>1128386.15</valUSD>
        <pctVal>0.9646384585</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CEMENTOS ARGOS SA</name>
        <lei>549300H7BB3SSJRSL735</lei>
        <title>CEMENTOS ARGOS SA ADR EACH REPR 5 ORD SHS</title>
        <cusip>151260106</cusip>
        <identifiers>
          <isin value="US1512601063"/>
          <ticker value="CMTOY"/>
        </identifiers>
        <balance>196131</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3207310.63</valUSD>
        <pctVal>2.7418762468</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GRAMEENPHONE LTD</name>
        <lei>N/A</lei>
        <title>GRAMEENPHONE LTD BDT10</title>
        <cusip>Y2844C110</cusip>
        <identifiers>
          <isin value="BD0001GP0004"/>
          <ticker value="GP"/>
        </identifiers>
        <balance>160761</balance>
        <units>NS</units>
        <currencyConditional curCd="BDT" exchangeRt="123.1"/>
        <valUSD>317402.98</valUSD>
        <pctVal>0.2713425022</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BD</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KAZATOMPROM JSC</name>
        <lei>5493008JG5TXJP2JSY44</lei>
        <title>KAZATOMPROM JSC GDR (EACH REPR 1 ORD) (REG S)</title>
        <cusip>63253R201</cusip>
        <identifiers>
          <isin value="US63253R2013"/>
          <ticker value="NATKY"/>
        </identifiers>
        <balance>50201</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4451217.4</valUSD>
        <pctVal>3.8052713524</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KZ</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MAP AKTIF ADIPERKASA TBK PT</name>
        <lei>254900N3WK9AC24SVF17</lei>
        <title>MAP AKTIF ADIPERKASA TBK PT IDR10</title>
        <cusip>Y581AR101</cusip>
        <identifiers>
          <isin value="ID1000144108"/>
          <ticker value="MAKTF"/>
        </identifiers>
        <balance>36171100</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="17310"/>
        <valUSD>1282663.96</valUSD>
        <pctVal>1.0965279794</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AIRTEL AFRICA PLC</name>
        <lei>254900ZNZDQL6OWQH623</lei>
        <title>AIRTEL AFRICA PLC ORD USD0.5</title>
        <cusip>G01415101</cusip>
        <identifiers>
          <isin value="GB00BKDRYJ47"/>
          <ticker value="AAFRF"/>
        </identifiers>
        <balance>763308</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7348888"/>
        <valUSD>3704078.52</valUSD>
        <pctVal>3.1665548124</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMAAR PROPERTIES PJSC</name>
        <lei>254900YWYEXYXK1BMP81</lei>
        <title>EMAAR PROPERTIES PJSC AED1</title>
        <cusip>M4025S107</cusip>
        <identifiers>
          <isin value="AEE000301011"/>
          <ticker value="EMAAR"/>
        </identifiers>
        <balance>217050</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.6731"/>
        <valUSD>702418.44</valUSD>
        <pctVal>0.6004857833</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EPAM SYSTEMS INC</name>
        <lei>549300XCR4R530HJP604</lei>
        <title>EPAM SYSTEMS INC COM USD0.001</title>
        <cusip>29414B104</cusip>
        <identifiers>
          <isin value="US29414B1044"/>
          <ticker value="EPAM"/>
        </identifiers>
        <balance>8272</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>941188.16</valUSD>
        <pctVal>0.8046060259</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUMBER ALFARIA TRIJAYA TBK</name>
        <lei>N/A</lei>
        <title>SUMBER ALFARIA TRIJAYA TBK IDR10</title>
        <cusip>Y71362118</cusip>
        <identifiers>
          <isin value="ID1000128705"/>
          <ticker value="PSBAF"/>
        </identifiers>
        <balance>5847900</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="17310"/>
        <valUSD>442085.67</valUSD>
        <pctVal>0.3779316497</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BUPA ARABIA FOR COOPERATIVE INSURANCE COMPANY SJSC</name>
        <lei>558600B2WJHD5P31XS68</lei>
        <title>BUPA ARABIA FOR COOPERATIVE INSURANCE COMPANY SJSC SAR10</title>
        <cusip>M20515116</cusip>
        <identifiers>
          <isin value="SA1210540914"/>
          <ticker value="8210"/>
        </identifiers>
        <balance>11542</balance>
        <units>NS</units>
        <currencyConditional curCd="SAR" exchangeRt="3.7505"/>
        <valUSD>563156.69</valUSD>
        <pctVal>0.4814332410</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-05-26</ncom:dateSigned>
      <ncom:nameOfApplicant>HARDING LOEVNER FUNDS INC</ncom:nameOfApplicant>
      <ncom:signature>Tracy L. Dotolo</ncom:signature>
      <ncom:signerName>Tracy L. Dotolo</ncom:signerName>
      <ncom:title>Chief Financial Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
