Tweedy Browne’s 13f filing with the Securities and Exchange Commission (SEC) for the March quarter this year showed that it acquired two new stocks, boosted its stakes across 17 stocks, reduced its stockholdings in 18 companies, and sold out its entire stake in three stocks. The firm has more than $3.68 billion assets under management, (AUM), up from approximately $3.17 billion in the previous quarter. Earlier, Tweedy Browne filed a 13F for their value fund specifically.
Tweedy Browne New Positions
During the first quarter, Tweedy Browne purchased 53, 158 shares of Royal Dutch Shell plc (NYSE:RDS.A) (NYSE:RDS.B) worth more than $3.46 million and 5,824 shares of Fisher Communications, Inc. (NASDAQ:FSCI) with $228,534 market value.
What does value investing really mean? Q1 2021 hedge fund letters, conferences and more Some investors might argue value investing means buying stocks trading at a discount to net asset value or book value. This is the sort of value investing Benjamin Graham pioneered in the early 1920s and 1930s. Other investors might argue value Read More
Tweedy Browne significantly increased its stockholdings in Halliburton Company (NYSE:HAL) by 900,730 shares, bringing its total stake in the company to 5, 541, 477 shares with more than $223.93 million market value. The firm also boosted its stake in 3M Co (NYSE:MMM) by 961, 313 shares and Wells Fargo & Co (NYSE:WFC) by 1,206, 830 shares bringing its total positions in the companies worth over $113.52 million and $197.91 million respectively.
The firm also acquired more than 715,830 shares of Joy Global Inc. (NYSE:JOY) making its stockholdings in the company to 1,316, 205 shares worth approximately $78.34 million. Tweedy, Browne also bought 310,946 additional shares of Leucadia National Corp. (NYSE:LUK), 118,170 shares of Cisco Systems, Inc. (NASDAQ:CSCO), 5,670 shares of Wal-Mart Stores, Inc. (NYSE:WMT), 5,105 shares of Baxter International Inc. (NYSE:BAX), and 4,670 shares of Comcast Corporation (NASDAQ:CMCSK), among others.
Tweedy Browne reduced its stockholdings in Union Pacific Corporation (NYSE:UNP) by 204,505 shares, UniFirst Corp (NYSE:UNF) by 107,153 shares, Diageo plc (NYSE:DEO) by 50,807 shares, Federated Investors Inc (NYSE:FII) by 47,600 shares, and Emerson Electric Co. (NYSE:EMR) by 39,568 shares. The firm also cut its stakes in Phillip 66 (NYSE:PSX) by 9,122 shares, American National Insurance Company (NASDAQ:ANAT) by 7,752 shares, Brown & Brown, Inc. (NYSE:BRO) by 5,860 shares, and Philip Morris International Inc. (NYSE:PM) by 3,005 shares.
Closed Out Positions
The firm sold out its entire position in Henry Schein, Inc. (NASDAQ:HSIC), Jefferies Group LLC (NYSE:JEF), and Vodafone Group Plc (NASDAQ:VOD) (LON:VOD).
Top Five Stockholdings
Based on the portfolio of Tweedy Browne, its top five stockholdings are Johnson & Johnson (NYSE:JNJ), which accounts 9.63 percent, Halliburton Company (NYSE:HAL) 6.07 percent, Cisco Systems, Inc. (NASDAQ:CSCO) 5.77 percent, Devon Energy Corp (NYSE:DVN) 5.72 percent, and Wells Fargo & Co (NYSE:WFC) 5.37 percent.
The four managing directors of Tweedy Browne namely William H. Browne, Thomas H. Shrager, John D. Spears and Robert Q. Wyckoff, Jr., own the firm.