The Tweedy Browne (Trades, Portfolio) Global Value Fund pursues long-term growth through a diverse portfolio consisting primarily of non-U.S. investments, and the Fund's second-quarter additions were definitely diverse.
In the second quarter, Tweedy Browne (Trades, Portfolio) Global Value added to eight existing stakes in its portfolio, including its most valuable stake – Standard Chartered PLC (LSE:STAN, Financial), a London-based banking and financial services company. Tweedy Browne (Trades, Portfolio) Global Value added 1,611,422 shares to its stake for an average price of £10.59 (approximately $16.43 in American currency) per share. The transaction had a 0.37% impact on Tweedy Browne (Trades, Portfolio)’s portfolio.
Standard Chartered has a market cap of $25.86 billion and an enterprise value of $25.85 billion. It has a P/E of 15.5, a Price/Book of 0.8 and a Price/Sales of 2.4. Bernard Horn (Trades, Portfolio) also has shares of Standard Chartered in his portfolio.
The most significant addition that Tweedy Browne (Trades, Portfolio) Global Value made in the quarter was its purchase of 3,044,025 shares of GlaxoSmithKline PLC (LSE:GSK, Financial), a pharmaceutical company also based in London, for an average price of £14.7 (roughly $22.81 in U.S. dollars) per share. The acquisition had a 0.92% impact on Tweedy Browne (Trades, Portfolio)’s portfolio.
GlaxoSmithKline has a market cap of $66.97 billion and an enterprise value of $78.24 billion. It has a P/E of 6.5, a Price/Book of 8.9 and a Price/Sales of 2.9. David Herro (Trades, Portfolio), Causeway International Value (Trades, Portfolio) and Brian Rogers (Trades, Portfolio) have shares of GlaxoSmithKline in their portfolios.
GlaxoSmithKline, which announced Tuesday that it will join forces with the Francis Crick Institute to probe new areas of medical research and drug discovery, is the 20th-most valuable stake in Tweedy Browne (Trades, Portfolio) Global Value’s portfolio.
Tweedy Browne (Trades, Portfolio) Global Value nearly doubled its stake in Hyundai Mobis Co Ltd (XKRX:012330, Financial), the Seoul, South Korea-based parts and service provider for Hyundai Motor Co. (XKRX:005389, Financial). (Tweedy Browne acquired a stake in Hyundai Motor Co. in the second quarter.) The firm purchased 97,867 shares of Hyundai Mobis Co Ltd for an average price of â‚©226619 (about $199.58 in American currency) per share. The transaction had a 0.27% impact on Tweedy Browne (Trades, Portfolio)’s portfolio.
Hyundai Mobis has a market cap of $18.53 trillion and an enterprise value of $10 trillion. It has a P/E of 8.9, a Price/Book of 1.1 and a Price/Sales of 1.0.
In 2014, Hyundai Mobis was sixth globally in auto parts and service sales for the second consecutive year.
Tweedy Browne (Trades, Portfolio) Global Value added to its stake in Antofagasta PLC (LSE:ANTO, Financial), a Chilean conglomerate based in London, buying 1,158,535 shares for an average price of £7.52 (nearly $11.67 in U.S. dollars) per share. The acquisition had a 0.18% impact on Tweedy Browne (Trades, Portfolio) Global Value’s portfolio.
Antofagasta has a market cap of $6.58 billion and an enterprise value of $7.66 billion. It has a P/E of 22.1, a Price/Book of 1.6 and a Price/Sales of 1.9. IVA International Fund (Trades, Portfolio) and Charles de Vaulx (Trades, Portfolio) have shares of Antofagasta in their portfolios.
Tweedy Browne (Trades, Portfolio) Global Value added 739,884 shares to its stake in HSBC Holdings PLC (LSE:HSBA), a London-based banking and financial services company, for an average price of £6.13 (about $9.51 in American money) per share. The purchase had a 0.1% impact on Tweedy Browne (Trades, Portfolio) Global Value’s portfolio.
HSBC has a market cap of $110.54 billion and an enterprise value of $25.99 billion. It has a P/E of 13.3, a Price/Book of 0.9 and a Price/Sales of 2.1. Causeway International Value (Trades, Portfolio) also has shares of HSBC Holdings in its portfolio.
Tweedy Browne (Trades, Portfolio) Global Value also added to its existing stakes in Vallourec SA (XPAR:VK), a Paris-based provider of solutions to energy industries; DBS Group Holdings Ltd (SGX:D05), a Singapore-based bank, and Royal Dutch Shell PLC (XAMS:RDSA).
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