Harding Loevner’s AB InBev BUD Stock Holding History

Harding Loevner’s Portfolio BUD Stock Details BUD Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2016 Q4	–	Sell	-2,506,201	Closed	-$329M	–	79
2016 Q3	$329M	Buy	2,506,201 +110,921	+5%	+$14M	2.38%	11
2016 Q2	$315M	Buy	2,395,280 +7,192	+0.3%	+$905K	2.47%	10
2016 Q1	$298M	Buy	2,388,088 +206,373	+9%	+$24.5M	2.35%	10
2015 Q4	$271M	Buy	2,181,715 +7,488	+0.3%	+$906K	2.2%	13
2015 Q3	$231M	Buy	2,174,227 +79,436	+4%	+$9.22M	1.86%	20
2015 Q2	$254M	Buy	2,094,791 +161,108	+8%	+$19.8M	1.78%	20
2015 Q1	$236M	Sell	1,933,683 -387,900	-17%	-$46.9M	1.8%	20
2014 Q4	$261M	Buy	2,321,583 +15,783	+0.7%	+$1.75M	2.1%	18
2014 Q3	$254M	Buy	2,305,800 +17,596	+0.8%	+$1.96M	1.88%	23
2014 Q2	$263M	Sell	2,288,204 -610	-0%	-$67.1K	1.96%	21
2014 Q1	$241M	Buy	2,288,814 +835,561	+57%	+$84.8M	1.84%	19
2013 Q4	$155M	Sell	1,453,253 -496,199	-25%	-$50.7M	1.2%	41
2013 Q3	$193M	Sell	1,949,452 -142,770	-7%	-$13.6M	1.72%	20
2013 Q2	$190M	Buy	+2,092,222	New	+$199M	1.84%	20

Other funds holding BUD

Soroban Capital Partners New York $51.8B AUM 21.41% 1-Year Est. Return

Franklin Resources

Franklin Resources San Mateo, California $408B AUM 30.18% 1-Year Est. Return

Fisher Asset Management

Fisher Asset Management Camas, Washington $295B AUM 31.6% 1-Year Est. Return

ClearBridge Investments

ClearBridge Investments New York $115B AUM 24.78% 1-Year Est. Return

Bank of America

Bank of America Charlotte, North Carolina $1.37T AUM 24.88% 1-Year Est. Return

Manulife (Manufacturers Life Insurance)

Manulife (Manufacturers Life Insurance) Canada, Ontario, Canada $116B AUM 26.37% 1-Year Est. Return

Wells Fargo San Francisco, California $530B AUM 22.01% 1-Year Est. Return

Morgan Stanley New York $1.66T AUM 25.57% 1-Year Est. Return

First Manhattan

First Manhattan New York $36.1B AUM 11.5% 1-Year Est. Return

Lazard Asset Management

Lazard Asset Management New York $60.8B AUM 22.47% 1-Year Est. Return