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Tweedy Browne Q4 Portfolio: Buys JNJ, EMR, SYY, COP, LMT, MMM

February 09, 2012 | About:
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gurufocus

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Long term value shop Tweedy Browne had a good year in 2011. All of their funds were up. They were named by Morningstar as 2011 International-Stock Fund Manager of the Year. “Our returns for the year were driven in large part by continued strong results in the traditionally more defensive components of our portfolios.” They wrote in the fourth quarter shareholder letter.

Their new positions of ITW, JEF have been discussed in detail in the report Tweedy, Browne Buys Illinois Tool Works and Jefferies. This is an overview of their portfolio changes. The team buys Johnson & Johnson, Emerson Electric Co., Sysco Corp., Conocophillips, Illinois Tool Works Inc., Lockheed Martin Corp., 3m Co., At&t, Jefferies Group Inc., Arthur J. Gallagher & Co., Bank Of New York Mellon, sells Sk Telecom Co. Ads, Norfolk Southern Corp., Brown & Brown Inc., Mcdonalds Corp., Federated Investors Inc., Avatar Holdings Inc. during the 3-months ended 12/31/2011, according to the most recent filings of his investment company, Tweedy Browne CO LLC. As of 12/31/2011, Tweedy Browne CO LLC owns 59 stocks with a total value of $2.9 billion. These are the details of the buys and sells.

This is the portfolio chart of Tweedy Browne. You can click on the legend of the chart to show/hide buys, sells, or holdings. Each ball on the chart represents a position in the portfolio. You can move your mouse on the balls to see the details of each position and click to see the details of all guru trades with this position.



For the details of Tweedy Browne's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Tweedy+Browne

This is the sector weightings of his portfolio:

Consumer Goods 29.5%
Financials 20.3%
Industrials 15.1%
Health Care 13.7%
Oil & Gas 10.9%
Consumer Services 6.8%
Technology 2.2%
Telecom 0.7%
Not Assigned 0.4%
Basic Materials 0.2%


These are the top 5 holdings of Tweedy Browne

  1. Philip Morris International (PM) - 5,660,725 shares, 15.4% of the total portfolio. Shares reduced by 5.45%
  2. Johnson & Johnson (JNJ) - 3,520,917 shares, 8.0% of the total portfolio. Shares added by 10.07%
  3. ConocoPhillips (COP) - 2,835,044 shares, 7.2% of the total portfolio. Shares added by 8.95%
  4. CocaCola Femsa S.A.B. De C.V. ADS (KOF) - 1,755,754 shares, 5.8% of the total portfolio. Shares reduced by 0.12%
  5. Berkshire Hathaway Inc. Cl A (BRK.A) - 1,215 shares, 4.8% of the total portfolio. Shares reduced by 0.08%


New Purchase: Illinois Tool Works Inc. (ITW)

Tweedy Browne initiated holdings in Illinois Tool Works Inc.. Their purchase prices were between $40.15 and $49.72, with an estimated average price of $46.05. The impact to their portfolio due to this purchase was 0.57%. Their holdings were 353,253 shares as of 12/31/2011.

New Purchase: Jefferies Group Inc. (JEF)

Tweedy Browne initiated holdings in Jefferies Group Inc.. Their purchase prices were between $10.06 and $14.9, with an estimated average price of $12.3. The impact to their portfolio due to this purchase was 0.22%. Their holdings were 462,735 shares as of 12/31/2011.

Sold Out: Sk Telecom Co. Ads (SKM)

Tweedy Browne sold out their holdings in Sk Telecom Co. Ads. Their sale prices were between $13.49 and $15.89, with an estimated average price of $14.66.

Added: Johnson & Johnson (JNJ)

Tweedy Browne added to their holdings in Johnson & Johnson by 10.07%. Their purchase prices were between $61.27 and $66.02, with an estimated average price of $63.97. The impact to their portfolio due to this purchase was 0.73%. Their holdings were 3,520,917 shares as of 12/31/2011.

Added: Emerson Electric Co. (EMR)

Tweedy Browne added to their holdings in Emerson Electric Co. by 26.4%. Their purchase prices were between $40.69 and $52.13, with an estimated average price of $48.25. The impact to their portfolio due to this purchase was 0.63%. Their holdings were 1,868,547 shares as of 12/31/2011.

Added: Sysco Corp. (SYY)

Tweedy Browne added to their holdings in Sysco Corp. by 89.33%. Their purchase prices were between $25.47 and $29.51, with an estimated average price of $27.67. The impact to their portfolio due to this purchase was 0.61%. Their holdings were 1,283,343 shares as of 12/31/2011.

Added: Conocophillips (COP)

Tweedy Browne added to their holdings in Conocophillips by 8.95%. Their purchase prices were between $60.99 and $72.94, with an estimated average price of $69.61. The impact to their portfolio due to this purchase was 0.59%. Their holdings were 2,835,044 shares as of 12/31/2011.

Added: Lockheed Martin Corp. (LMT)

Tweedy Browne added to their holdings in Lockheed Martin Corp. by 146.03%. Their purchase prices were between $71.16 and $81.52, with an estimated average price of $76.71. The impact to their portfolio due to this purchase was 0.4%. Their holdings were 240,197 shares as of 12/31/2011.

Added: 3m Co. (MMM)

Tweedy Browne added to their holdings in 3m Co. by 13.56%. Their purchase prices were between $70.93 and $82.29, with an estimated average price of $78.95. The impact to their portfolio due to this purchase was 0.37%. Their holdings were 1,086,565 shares as of 12/31/2011.

Added: At&t (T)

Tweedy Browne added to their holdings in At&t by 46.79%. Their purchase prices were between $27.41 and $30.24, with an estimated average price of $28.97. The impact to their portfolio due to this purchase was 0.23%. Their holdings were 684,286 shares as of 12/31/2011.

Added: Arthur J. Gallagher & Co. (AJG)

Tweedy Browne added to their holdings in Arthur J. Gallagher & Co. by 52.67%. Their purchase prices were between $25.54 and $33.82, with an estimated average price of $30.5. The impact to their portfolio due to this purchase was 0.15%. Their holdings were 375,124 shares as of 12/31/2011.

Added: Bank Of New York Mellon (BK)

Tweedy Browne added to their holdings in Bank Of New York Mellon by 5.65%. Their purchase prices were between $17.7 and $22.41, with an estimated average price of $19.64. The impact to their portfolio due to this purchase was 0.12%. Their holdings were 3,335,509 shares as of 12/31/2011.

Reduced: Norfolk Southern Corp. (NSC)

Tweedy Browne reduced to their holdings in Norfolk Southern Corp. by 29.15%. Their sale prices were between $60.01 and $75.75, with an estimated average price of $71.11. The impact to their portfolio due to this sale was -0.4%. Tweedy Browne still held 411,250 shares as of 12/31/2011.

Reduced: Brown & Brown Inc. (BRO)

Tweedy Browne reduced to their holdings in Brown & Brown Inc. by 27.15%. Their sale prices were between $17 and $22.82, with an estimated average price of $20.89. The impact to their portfolio due to this sale was -0.35%. Tweedy Browne still held 1,353,561 shares as of 12/31/2011.

Reduced: Mcdonalds Corp. (MCD)

Tweedy Browne reduced to their holdings in Mcdonalds Corp. by 33.03%. Their sale prices were between $85.83 and $100.81, with an estimated average price of $93.51. The impact to their portfolio due to this sale was -0.07%. Tweedy Browne still held 41,334 shares as of 12/31/2011.

Reduced: Federated Investors Inc. (FII)

Tweedy Browne reduced to their holdings in Federated Investors Inc. by 23.96%. Their sale prices were between $14.38 and $20.78, with an estimated average price of $16.9. The impact to their portfolio due to this sale was -0.03%. Tweedy Browne still held 145,906 shares as of 12/31/2011.

Reduced: Avatar Holdings Inc. (AVTR)

Tweedy Browne reduced to their holdings in Avatar Holdings Inc. by 25.32%. Their sale prices were between $5.85 and $10, with an estimated average price of $7.94. The impact to their portfolio due to this sale was -0.02%. Tweedy Browne still held 141,719 shares as of 12/31/2011.

About the author:

gurufocus
GuruFocus - Stock Picks and Market Insight of Gurus

Rating: 4.2/5 (5 votes)

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