Tweedy Browne Buys Philip Morris, Berkshire Hathaway and Baxter

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Tweedy Browne Buys Philip Morris, Berkshire Hathaway and Baxter
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Tweedy Browne Buys Philip Morris, Berkshire Hathaway and Baxter

Tweedy, Browne Value (MUTF:TWEBX) is a value investment firm with $6.3 billion under management in its four major funds. The long positions disclosed with the SEC amount to $2.6 billion. In the last quarter, Tweedy’s four funds gained more than 5 percent on average, whereas the YTD performance of the flagship fund was up 12.77 percent. Tweedy Browne has a liking for well paying dividend stocks like, Novartis AG (NYSE:NVS), Johnson & Johnson (NYSE:JNJ), Roche Holding Ltd. (PINK:RHHBY), TOTAL S.A. (NYSE:TOT), and HSBC Holdings (NYSE: HBC). The changes made to the portfolio, according to the latest 13f filing are discussed below:

Additions and Buys

The largest holdings are in Johnson & Johnson (NYSE:JNJ), Philip Morris International Inc. (NYSE:PM), ConocoPhillips (NYSE:COP), Baxter International Inc. (NYSE:BAX), and Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE: BRK.B).

Tweedy increased  holdings in The Bank of New York Mellon Corporation (NYSE:BK), ConocoPhillips (NYSE:COP), and Emerson Electric Co. (NYSE:EMR) in the last quarter. New positions were initiated in Connecticut Water Service, Inc. (NASDAQ:CTWS) and Fisher Communications, Inc. (NASDAQ:FSCI).

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Reductions and Sells

Exposure in  Berkshire Hathaway Inc. Class B (NYSE:BRK.B) was reduced by 90 percent, the fund now holds 41,886 shares of the stock. Holdings in Automatic Data Processing (NASDAQ:ADP) were also cut by 21 percent and almost half of the shares in Canon Inc (NYSE: CAJ) were also sold in the last quarter.

In the top holdings, exposure in Philip Morris International Inc. (NYSE:PM) was decreased by 27 percent, 885,754 shares were sold in the last quarter. The holding now makes 7.8 percent of the portfolio. Some shares of Norfolk Southern Corp. (NYSE:NSC), Roche Holding Ltd. (PINK:RHHBY), U.S. Bancorp (NYSE:USB), and HSBC Holdings plc (LON:HSBA) (NYSE:HBC) were also sold in the last quarter.

In the technology sector, Tweedy has noticeable  holdings in Google Inc (NASDAQ:GOOG), 3M Co (NYSE:MMM), and Cisco Systems, Inc. (NASDAQ:CSCO). Slight reductions were made in all of these stocks.

The fund exited its positions in Honda Motor Co Ltd (NYSE:HMC) and Horizon Telcom B NEW (PINK:HRZCB). Honda Motor previously made over 4 percent on the portfolio.

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