Insight into Tweedy Browne (Trades, Portfolio)'s Q4 2023 Investment Moves and Portfolio Adjustments
Tweedy Browne (Trades, Portfolio), a firm with a rich history dating back to its brokerage services for Benjamin Graham in the mid-20th century, has recently disclosed its 13F filings for the fourth quarter of 2023. The firm, now managed by a seasoned team with tenures ranging from 18 to 47 years, continues to pursue value investment strategies, focusing on undervalued U.S. and foreign equity securities. With a majority interest owned by Affiliated Managers Group, Inc. ("AMG"), Tweedy Browne (Trades, Portfolio) operates with autonomy, ensuring a stable succession and ownership transfer process. The firm's investment approach is deeply rooted in the principles of value investing, seeking long-term capital growth and employing hedging strategies to mitigate currency risk.
Key Position Increases
Tweedy Browne (Trades, Portfolio) has bolstered its portfolio with significant increases in several stocks during the last quarter:
- The standout increase was in FMC Corp (FMC, Financial), where an additional 1,518,053 shares were acquired, bringing the total to 2,961,857 shares. This substantial 105.14% increase in share count had a 4.67% impact on the current portfolio, with a total value of $186,745,080.
- Another notable increase was in U-Haul Holding Co (UHAL.B, Financial), with an additional 188,725 shares, resulting in a total of 607,360 shares. This adjustment marks a 45.08% increase in share count, with a total value of $42,782,440.
Summary of Sold Out Positions
Tweedy Browne (Trades, Portfolio) has also exited several positions entirely in the fourth quarter of 2023:
- Paramount Global (PARA, Financial) saw the sale of all 287,668 shares, leading to a -0.2% impact on the portfolio.
- Intel Corp (INTC, Financial) was completely liquidated with all 50,994 shares sold, causing a -0.1% impact on the portfolio.
Key Position Reductions
The firm reduced its stake in a number of companies, with the most significant changes being:
- A reduction in Alphabet Inc (GOOG, Financial) by 146,950 shares, resulting in a -24.71% decrease in shares and a -1.04% impact on the portfolio. The stock traded at an average price of $135.69 during the quarter and has returned 10.30% over the past 3 months and 4.60% year-to-date.
- A reduction in AutoZone Inc (AZO, Financial) by 6,081 shares, leading to a -33.2% reduction in shares and a -0.83% impact on the portfolio. The stock's average trading price was $2,593.5 during the quarter, with returns of -0.29% over the past 3 months and 4.39% year-to-date.
Portfolio Overview
As of the fourth quarter of 2023, Tweedy Browne (Trades, Portfolio)'s portfolio comprised 45 stocks, with top holdings including 17.53% in Berkshire Hathaway Inc (BRK.A, Financial), 13.69% in Alphabet Inc (GOOGL, Financial), 9.12% in FMC Corp (FMC, Financial), 8.68% in Johnson & Johnson (JNJ, Financial), and 8.53% in Ionis Pharmaceuticals Inc (IONS, Financial). The firm's investments are primarily concentrated across nine industries, including Financial Services, Healthcare, Communication Services, Consumer Cyclical, Basic Materials, Consumer Defensive, Industrials, Technology, and Energy.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
