The 93-year old firm Tweedy, Browne Company LLC is an investor and investment advisor that derives inspiration from the work of the late Benjamin Graham, co-author of the first textbook on investment research, Security Analysis (1934) and author of The Intelligent Investor (1949). Graham, through his investment firm Graham-Newman Corp., was one of the firm’s primary brokerage clients in the 1930s, 1940s, and 1950s.
As such, the firm’s investments are of great interest to value investors worldwide, and we bring you insights from its latest 13F filing for the quarter ended September 30, 2013.
The ExodusPoint Partners International Fund returned 0.36% for May, bringing its year-to-date return to 3.31% in a year that's been particularly challenging for most hedge funds, pushing many into the red. Macroeconomic factors continued to weigh on the market, resulting in significant intra-month volatility for May, although risk assets generally ended the month flat. Macro Read More
During the quarter, the firm purchased one new stock, augmented its holdings in three stocks, completely divested two stocks and trimmed investments in 31 others.
Tweedy, Browne: New stock added
The fund acquired 6,483 shares in Connecticut Water Service Inc (NASDAQ:CTWS) at a market value of $208,000.
Tweedy, Browne: Increased stakes
The hedge fund added to its existing holdings in three stocks. These were Banco Santander Brasil SA (ADR) (NYSE:BSBR) in which it added 8,502,281 shares, Joy Global Inc. (NYSE:JOY) (added 10,400 shares) and National-Oilwell Varco, Inc. (NYSE:NOV), where it added 134,493 shares.
Tweedy, Browne: Stocks divested
Tweedy Browne sold out its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) and Fisher Communications, Inc. (NASDAQ:FSCI).
Tweedy, Browne: Stocks reduced
The fund trimmed holdings in 31 stocks, chief among these being
The Bank of New York Mellon Corporation (NYSE:BK) (-337,048 shares)
Coca-Cola FEMSA, S.A.B. de C.V. (ADR) (NYSE:KOF) (-169,443 shares),
SYSCO Corporation (NYSE:SYY) (-200,345 shares),
Brookfield Glbl Lstd Infrstr Incm Fd Inc (NYSE:INF) (-33,548 shares) and
Phillips 66 (NYSE:PSX) (-200,345 shares).
Tweedy, Browne: Aggregate and top five holdings
The aggregate value of its holdings was declared at $4.16B. Its top five holdings as a percentage of its portfolio were Johnson & Johnson (NYSE:JNJ) (9.01%), Banco Santander Brasil SA (ADR) (NYSE:BSBR) (8.1%), Halliburton Company (NYSE:HAL), Cisco Systems, Inc. (NASDAQ:CSCO) (6.22%) and Devon Energy Corp (NYSE:DVN) (5.87%).