Insights from the First Quarter of 2024 13F Filing
Tweedy Browne (Trades, Portfolio), a distinguished investment firm with a rich history dating back to its association with Benjamin Graham in the mid-20th century, continues to make strategic moves in the financial markets. Managed by a seasoned team with decades of experience, the firm adheres to a value investing philosophy, focusing on undervalued securities in developed markets and aiming for long-term capital growth. The recent 13F filing for the first quarter of 2024 reveals significant transactions that underline the firm's investment strategy and market outlook.
New Additions to the Portfolio
Tweedy Browne (Trades, Portfolio) introduced new equity positions during the first quarter, with a notable acquisition being:
- Envista Holdings Corp (NVST, Financial), purchasing 984,719 shares. This new holding now represents 0.99% of the portfolio, with a total value of $21.05 million.
Significant Increases in Existing Positions
The firm also augmented its stakes in several companies, highlighting its confidence in these investments:
- CNH Industrial NV (CNHI, Financial) saw an addition of 262,471 shares, bringing the total to 1,081,542 shares. This increase of 32.04% in share count had a 0.16% impact on the portfolio, valued at $14.02 million.
- Concentrix Corp (CNXC, Financial) with an additional 30,798 shares, now totaling 173,338 shares. This adjustment represents a 21.61% increase in share count, valued at $11.48 million.
Complete Exits
In a strategic move, Tweedy Browne (Trades, Portfolio) exited its position in:
- Thor Industries Inc (THO, Financial), selling all 96,493 shares, which previously had a -0.56% impact on the portfolio.
Notable Reductions
The firm reduced its holdings in several key stocks, with significant cuts in:
- FMC Corp (FMC, Financial), reducing its stake by 454,758 shares, a -15.35% decrease, impacting the portfolio by -1.4%. FMC Corp traded at an average price of $58.36 during the quarter and has seen a 15.01% return over the past three months, despite a -2.50% return year-to-date.
- Coca-Cola Femsa SAB de CV (KOF, Financial), with a reduction of 104,895 shares, a -6.65% decrease, impacting the portfolio by -0.48%. The stock traded at an average price of $95.68 during the quarter, with a modest return of 0.05% over the past three months and 3.61% year-to-date.
Portfolio Overview and Sector Allocation
As of the first quarter of 2024, Tweedy Browne (Trades, Portfolio)'s portfolio comprised 45 stocks. The top holdings included 19.72% in Berkshire Hathaway Inc (BRK.A, Financial), 14.2% in Alphabet Inc (GOOGL, Financial), 8.42% in Johnson & Johnson (JNJ, Financial), 7.5% in FMC Corp (FMC), and 7.03% in Ionis Pharmaceuticals Inc (IONS, Financial). The investments are primarily concentrated across nine industries, including Financial Services, Healthcare, and Technology, among others.
This detailed analysis of Tweedy Browne (Trades, Portfolio)'s latest 13F filing not only reflects the firm's strategic investment decisions but also provides valuable insights into the broader market trends and potential investment opportunities for value investors.
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.
