Tweedy Browne Buys Banco Santander, Cisco; Sells Bank of New York

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Tweedy Browne filed its 13F statement as of December 31, 2013 with the Securities and Exchange Commission. The regulatory filings reveal Tweedy Browne’s investments have a market value of approximately $4,303,053,000. Its top 10 holdings represent 58.66% of its portfolio. However, the investment management firm hasn’t added any new shares nor completely pruned any of its positions for the quarter ended December 31, 2013.

Tweedy Browne’s top positions

The private investment management firm’s biggest position was Johnson & Johnson (NYSE:JNJ) as of December 31. It owned 4,305,931 shares representing 9.17% of its overall portfolio. Tweedy Browne’s holdings for Johnson & Johnson are currently valued at $394.38 million.

The investment management firm’s second largest holding was Banco Santander Brasil SA (ADR) (NYSE:BSBR) (BVMF:SANB11) of which Tweedy Browne owns 49,203,606 shares that are currently valued at $300.14 million, representing 6.98% of its overall portfolio.

Oilfield services company, Halliburton Company (NYSE:HAL), was the third largest holding for Tweedy Browne. The investment management firm held 5,524,307 shares constituting 6.52% of its portfolio in Halliburton. These shares are currently valued at $280.35 million.

Tweedy Browne’s fourth largest holding was Devon Energy Corporation, and it held 4,235,655 shares representing 6.09% of its portfolio currently valued at $262.06 million.

Networking leader Cisco Systems, Inc. (NASDAQ:CSCO) was the fifth largest holding for the private investment management firm, holding 11,073,179 shares valued at $248.37 million. Cisco constituted 5.77% of Tweedy Browne’s overall portfolio.

Major pruned positions

Tweedy Browne partially pruned its position in The Bank of New York Mellon Corporation (NYSE:BK) by divesting 373,735 shares. However the investment management firm still holds 4,226,245 shares in the bank representing 3.43% of its overall portfolio. Its holdings in The Bank of New York Mellon are valued at $147.66 million.

The investment management firm also sold a part of its position in the diversified holding company, Leucadia National Corp. (NYSE:LUK). It sold 324,688 shares of Leucadia while still holding 629,101 shares as of December 31, 2013. Its holdings in Leucadia are valued at $17.89 million representing 0.41% of its overall portfolio.

Tweedy Browne also pruned its position partially in the transportation company Union Pacific Corporation (NYSE:UNP) by divesting 302,986 shares. The investment management firm still holds 396,646 shares of Union Pacific valued at $66.63 million and representing 1.55% of its total portfolio.

About the Author

Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports