Tweedy Browne Global Value Adds to Stakes in 4th Quarter

Nearly all of Tweedy Browne (Trades, Portfolio) Global Value Fund’s fourth-quarter activity involved additions to existing stakes.

The most noteworthy of those transactions was the Fund’s increase of nearly 721% to its stake in E-L Financial Corp. Ltd. (TSX:ELF, Financial), a Toronto-based life insurance and financial services company. The Fund purchased 79,300 shares for an average price of C$688.37 (about $485.95 in U.S. currency) per share. The acquisition had a 0.6% impact on the Fund’s portfolio.

The Fund’s stake is 2.25% of E-L Financial’s outstanding shares and 0.68% of the Fund’s total assets.

E-L Financial has a P/E of 6.4, a P/B of 0.6 and a P/S of 1.5. GuruFocus has given E-L Financial a Financial Strength rating of 7/10 and a Profitability and Growth rating of 4/10.

With the purchase, Tweedy Browne (Trades, Portfolio) Global Value is E-L Financial’s leading shareholder among the gurus with 90,300 shares in its portfolio. CI Can Am Small Cap (Trades, Portfolio) also has shares of E-L Financial in its portfolio.

E-L Financial sold for C$680 (approximately $480.04 in American dollars) per share Tuesday.

The Fund increased its stake in Zurich Insurance Group AG (XSWX:ZURN), a Swiss insurance company, by nearly 12%. The Fund purchased 75,700 shares for an average price of CHF258.89 (roughly $259.83 in U.S. money) per share. The deal had a 0.29% impact on the Fund’s portfolio.

The Fund’s stake is 0.48% of Zurich Insurance Group’s outstanding shares and 2.71% of the Fund’s total assets.

Zurich Insurance Group has a P/E of 12.6, a forward P/E of 9.9, a P/B of 1.2 and a P/S of 0.6. GuruFocus has given Zurich Insurance Group a Financial Strength rating of 5/10 and a Profitability and Growth rating of 5/10.

Tweedy Browne (Trades, Portfolio) Global Value is Zurich Insurance Group’s leading shareholder among the gurus with 719,400 shares in its portfolio. Causeway International Value (Trades, Portfolio) also has shares of Zurich Insurance Group in its portfolio.

Zurich Insurance Group sold for CHF252.80 (about $252.56 in American currency) per share Tuesday.

The Fund raised its stake in G4S PLC (LSE:GFS), a British security services company, by more than 9%. The Fund bought 3,360,826 shares for an average price of £2.34 (approximately $3.40 in U.S. money) per share. The transaction had a 0.16% impact on the Fund’s portfolio.

Tweedy Browne (Trades, Portfolio) Global Value’s stake is 2.47% of G4S’s outstanding shares and 1.86% of the Fund’s total assets.

G4S has a P/E of 22.2, a forward P/E of 12.7, a P/B of 4.5 and a P/S of 0.5. GuruFocus has given G4S a Financial Strength rating of 8/10 and a Profitability and Growth rating of 5/10.

The Fund is G4S’s leading shareholder among the gurus with 38,323,976 shares in its portfolio. David Herro (Trades, Portfolio) also has shares of G4S in his portfolio.

G4S sold for £2.16 (roughly $3.14 in American dollars) per share Tuesday.

Tweedy Browne (Trades, Portfolio) Global Value raised its stake in AGCO Corp. (AGCO, Financial), a Duluth, Georgia-based manufacturer of agricultural equipment, by nearly 126%. The Fund purchased 159,794 shares for an average price of $47.29 per share. The deal had a 0.11% impact on the Fund’s portfolio.

The Fund’s stake in AGCO is 0.34% of AGCO’s outstanding shares and 0.19% of the Fund’s total assets.

AGCO has a P/E of 14.3, a forward P/E of 16.3, a P/B of 1.3 and a P/S of 0.5. GuruFocus has given AGCO a Financial Strength rating of 7/10 and a Profitability and Growth rating of 7/10.

Third Avenue Management (Trades, Portfolio) is AGCO’s leading shareholder among the gurus with 1,837,243 shares in its portfolio.

AGCO sold for $45.32 per share Tuesday.

The Fund increased its stake in Diageo PLC (LSE:DGE, Financial), a London-based alcoholic beverages company, by nearly 2% with the purchase of 108,350 shares for an average price of £18.62 (about $27.08 in U.S. currency) per share. The transaction had a 0.04% impact on the Fund’s portfolio.

Tweedy Browne (Trades, Portfolio) Global Value’s stake in Diageo is 0.28% of Diageo’s outstanding shares and 2.85% of the Fund’s total assets.

Diageo has a P/E of 19.1, a forward P/E of 18.6, a P/B of 6.4 and a P/S of 4.2. GuruFocus has given Diageo a Financial Strength rating of 8/10 and a Profitability and Growth rating of 7/10.

Herro is Diageo’s leading shareholder among the gurus with 23,371,000 shares in his portfolio.

Diageo sold for £18.37 (approximately $26.71 in American money) per share Tuesday.

Tweedy Browne (Trades, Portfolio) Global Value raised its stake in Total SA (XPAR:FP, Financial), a French oil and gas company, by more than 1%. The Fund bought 68,591 shares for an average price of €44.39 (roughly $48.40 in U.S. dollars) per share. The deal had a 0.04% impact on the Fund’s portfolio.

The Fund’s stake in Total is 0.2% of the company’s outstanding shares and 3.13% of the Fund’s total assets.

Total has a P/E of 54.8, a forward P/E of 9.2, a P/B of 0.9 and a P/S of 0.6. GuruFocus has given Total a Financial Strength rating of 6/10 and a Profitability and Growth rating of 6/10.

Tweedy Browne (Trades, Portfolio) Global Value is Total’s leading shareholder among the gurus with 4,782,031 shares in its portfolio.

Total sold for €37.25 (about $40.45 in American currency) per share Tuesday.

The Fund increased its stake in GlaxoSmithKline PLC (LSE:GSK), a London-based pharmaceutical company, by nearly 1% with the purchase of 99,707 shares for an average price of £13.45 (roughly $19.56 in U.S. dollars) per share. The deal had a 0.03% impact on the Fund’s portfolio.

Tweedy Browne (Trades, Portfolio) Global Value’s stake in GlaxoSmithKline is 0.23% of the company’s outstanding shares and 3.38% of the Fund’s total assets.

GlaxoSmithKline has a P/E of 6.7, a forward P/E of 14.5, a P/B of 12.0 and a P/S of 2.8. GuruFocus has given GlaxoSmithKline a Financial Strength rating of 8/10 and a Profitability and Growth rating of 5/10.

Tweedy Browne (Trades, Portfolio) Global Value is GlaxoSmithKline’s leading shareholder among the gurus with 11,442,207 shares in its portfolio.

GlaxoSmithKline sold for £13.64 (approximately $19.84 in American money) per share Tuesday.

The Fund raised its stake in HSBC Holdings PLC (LSE:HSBA), a London-based banking and financial services company, by more than 1% with the acquisition of 261,634 shares for an average price of £5.22 (about $7.59 in U.S. currency) per share. The transaction had a 0.03% impact on Tweedy Browne (Trades, Portfolio) Global Value’s portfolio.

The Fund’s stake in HSBC Holdings is 0.11% of the company’s outstanding shares and 2.39% of the Fund’s total assets.

HSBC Holdings has a P/E of 10.1, a forward P/E of 8.3, a P/B of 0.8 and a P/S of 1.8. GuruFocus has given HSBC Holdings a Financial Strength rating of 6/10 and a Profitability and Growth rating of 5/10.

Causeway International Value (Trades, Portfolio) is HSBC Holdings’ leading shareholder among the gurus with 22,036,921 shares in its portfolio.

HSBC Holdings sold for £5.05 (roughly $7.34 in American dollars) per share Tuesday.

Tweedy Browne (Trades, Portfolio) Global Value increased its stake in Standard Chartered PLC (LSE:STAN), a London-based banking and financial services company, by nearly 1%. The Fund purchased 233,149 shares for an average price of £6.04 (approximately $8.78 in U.S. money) per share. The deal had a 0.03% impact on the Fund’s portfolio.

Tweedy Browne (Trades, Portfolio) Global Value’s stake in Standard is 0.79% of the company’s outstanding shares and 3.15% of the Fund’s total assets.

Standard has a P/E of 8.2, a forward P/E of 7.8, a P/B of 0.4 and a P/S of 1.3. GuruFocus has given Standard a Financial Strength rating of 7/10 and a Profitability and Growth rating of 5/10.

Tweedy Browne (Trades, Portfolio) Global Value is Standard’s leading shareholder among the gurus with 25,976,349 shares in its portfolio.

Standard sold for £5.14 (about $7.47 in American currency) per share Tuesday.

The Fund raised its stake in Ebara Corp. (TSE:6361), a Tokyo-based machinery manufacturer, by more than 5%. The Fund bought 283,600 shares for an average price of ¥549.47 (roughly $4.68 in U.S. dollars) per share. The transaction had a 0.02% impact on the Fund’s portfolio.

Tweedy Browne (Trades, Portfolio) Global Value’s stake in Ebara is 1.24% of the company’s outstanding shares and 0.4% of the Fund’s total assets.

Ebara has a P/E of 9.4, a P/B of 1.1 and a P/S of 0.5. GuruFocus has given Ebara a Financial Strength rating of 7/10 and a Profitability and Growth rating of 5/10.

Tweedy Browne (Trades, Portfolio) Global Value is Ebara’s leading shareholder among the gurus with 5,752,600 shares in its portfolio.

Ebara sold for ¥535 (approximately $4.56 in American money) per share Tuesday.

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