Insightful Analysis of Tweedy Browne International Value (Trades, Portfolio)'s First Quarter 2024 Portfolio Adjustments
Tweedy Browne International Value (Trades, Portfolio), known for its Ben Graham value-oriented investment approach, has revealed its N-PORT filing for the first quarter of 2024. The fund, which began on June 15, 1993, is steered by a seasoned Investment Committee that includes Roger R. de Bree, Frank H. Hawrylak, Jay Hill, Sean McDonald, Thomas H. Shrager, John D. Spears, and Robert Q. Wyckoff, Jr. Focusing on undervalued foreign equity securities and selectively investing in U.S. stocks, the fund aims to mitigate currency risk by hedging against the U.S. dollar. This quarter's filing unveils significant changes, including new buys, position increases, complete exits, and reductions in holdings.
Summary of New Buy
Tweedy Browne International Value (Trades, Portfolio) expanded its portfolio with a new addition:
- Hosokawa Micron Corp (TSE:6277, Financial) was the standout new buy, with 481,855 shares acquired. This purchase represents 0.27% of the portfolio, with a total value of ¥1,510.72 million.
Key Position Increases
The fund also bolstered its stake in existing holdings:
- Winpak Ltd (TSX:WPK, Financial) saw a substantial increase of 469,810 shares, bringing the total to 1,926,024 shares. This 32.26% surge in share count had a 0.26% impact on the current portfolio, amounting to a total value of C$57.70 million.
Summary of Sold Out
Significant exits from the portfolio include:
- Baidu Inc (HKSE:09888, Financial): The complete sale of 4,349,576 shares by Tweedy Browne International Value (Trades, Portfolio) led to a -1.14% impact on the portfolio.
- Tencent Holdings Ltd (HKSE:00700, Financial): The liquidation of all 1,485,150 shares resulted in a -0.98% portfolio impact.
Key Position Reduces
Reductions were made in several key positions:
- Teleperformance SE (XPAR:TEP, Financial) was reduced by 408,389 shares, marking a -40.37% decrease and a -1.05% portfolio impact. The stock's average trading price was €122.56 during the quarter, with a -28.08% return over the past three months and -30.28% year-to-date.
- FMC Corp (FMC, Financial) saw a reduction of 625,106 shares, a -32.37% decrease, affecting the portfolio by -0.69%. The average trading price was $58.36, with a 5.45% return over the past three months and a -1.44% year-to-date performance.
Portfolio Overview
As of the first quarter of 2024, Tweedy Browne International Value (Trades, Portfolio)'s portfolio comprised 89 stocks. The top holdings included 4.86% in Safran SA (XPAR:SAF, Financial), 4.81% in Berkshire Hathaway Inc (BRK.A, Financial), 4.77% in TotalEnergies SE (XPAR:TTE, Financial), 4.74% in BAE Systems PLC (LSE:BA., Financial), and 4.14% in Alphabet Inc (GOOGL, Financial). The investments span across 10 of the 11 industries, with significant concentration in Industrials, Financial Services, Consumer Defensive, Healthcare, Basic Materials, Communication Services, Energy, Consumer Cyclical, Technology, and Real Estate.
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.
