Harding Loevner’s Petrobras Class A PBR.A Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2014 Q1	–	Sell	-804,242	Closed	-$11.8M	–	88
2013 Q4	$11.8M	Buy	804,242 +135,738	+20%	+$1.99M	0.09%	70
2013 Q3	$11.2M	Buy	668,504 +21,124	+3%	+$353K	0.1%	70
2013 Q2	$9.49M	Buy	+647,380	New	+$9.49M	0.09%	70