I found this article from Bloomberg with news of the latest filing dated March 31, 2009 but no link to the actual 13f. Shockingly I was able to find it here and you can compare it to the previous filing from December 31, 2008 here.
The Bloomberg article notes that HMC increased its exposure to China, Brazil and Mexico. Mexico is odd as it seems as though Mexico has become unpopular due to declines in production from the Cantarell Field. From the March low iShares Mexico (EWW) is up about the same as iShares Emerging (EEM) but EWW was a drag for the first quarter.
In the course of buying and selling the HMC apparently bought 1.47 million shares of News Corp (NWS). Generally speaking media stocks tend to be later cycle because advertisers are not the first ones in the pool coming out of a recession. Additionally with so many newspapers closing down there would seem to be very little reason to buy News Corp here. Of course it is easy to second guess someone else.
Not mentioned in the Bloomberg piece is that HMC added some exposure to one of my favorite destinations; Chile. It added 2106 shares of what the filing listed as MSCI Chile Index Fund which I presume is the iShares product that has ticker ECH. It also bought 4100 shares of Santander de Chile (SAN) which I own for clients and 1100 shares Sociedad Quimica y Minera (SQM).
I've been writing about Chile since early 2005. The story is simple, the country has a lot of copper and the world needs a lot of copper. Fiscally they run a tight ship. The social security equivalent is done via individual accounts and participation is mandatory for people who are on payrolls which creates a constant source of demand for equities.
If the theme of US based investors having to buy foreign equities comes true (I believe it will) then I think Chilean equities would be a big beneficiary.
Via Random Roger's Big Picture:
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