Tweedy, Browne

Q4 2021 13F · by John Spears, portfolio manager

As of: Dec 31, 2021
Filed: Feb 10, 2022
US stock: $3.2B · prev $3.0B
Positions: 42 · prev 46
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves42 since the prior filing

+2.2 pp in · −2.7 pp out

New 0 0.00 pp
Added 5 +2.23 pp
Trimmed 33 −0.95 pp
Exited 4 −1.73 pp

The book

Concentrated · behaves like 16 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 6.1% a year, about 16.4 years per position

Low
Moderate
High

Top 5 positions47% of US stock

BRK.A Berkshire Hathaway Inc. held held12.7%
GOOGL Alphabet Inc. Class A trimmed+0.32 pp trimmed+0.3211.7%
JNJ Johnson & Johnson trimmed+0.01 pp trimmed+0.019.1%
GOOG Alphabet Inc. Class C trimmed−0.07 pp trimmed−0.077.9%
CSCO Cisco Systems, Inc. (DE) trimmed+0.15 pp trimmed+0.155.6%

Positions42 in this filing · 4 exited


BRK.ABerkshire Hathaway Inc.	12.67%	886	$399M	held	—	4 q
GOOGLAlphabet Inc. Class A	11.68%	127,070	$368M	trimmed−0%	+0.32 pp	4 q
JNJJohnson & Johnson	9.05%	1,666,949	$285M	trimmed−0%	+0.01 pp	4 q
GOOGAlphabet Inc. Class C	7.91%	86,110	$249M	trimmed−4%	−0.07 pp	4 q
CSCOCisco Systems, Inc. (DE)	5.62%	2,793,769	$177M	trimmed−7%	+0.15 pp	4 q
AZOAutoZone, Inc.	5.57%	83,739	$176M	trimmed−4%	+0.62 pp	4 q
KOFCoca-Cola FEMSA, S.A.B DE C.V	4.83%	2,776,228	$152M	trimmed−1%	−0.44 pp	4 q
FMCFMC Corporation	4.16%	1,192,500	$131M	added+20%	+1.13 pp	2 q
ALVAutoliv, Inc.	3.68%	1,120,565	$116M	added+1%	+0.49 pp	4 q
BNYBank of New York Mellon Corporation	3.32%	1,800,356	$105M	trimmed−4%	+0.08 pp	4 q
WFCWells Fargo & Co.	3.28%	2,157,631	$104M	trimmed−1%	−0.10 pp	4 q
BACBank of America Corporation	2.72%	1,925,093	$86M	trimmed−0%	−0.02 pp	4 q
BRK.BBERKSHIRE HATHAWAY Class B	2.67%	281,043	$84M	trimmed−2%	+0.06 pp	4 q
FOXFox Corporation Class B	2.42%	2,227,228	$76M	trimmed−1%	−0.37 pp	4 q
MMM3M Company	1.95%	346,800	$62M	trimmed−1%	−0.10 pp	4 q
USBU.S. Bancorp	1.93%	1,080,432	$61M	trimmed−1%	−0.24 pp	4 q
CMCSAComcast Corp	1.69%	1,058,753	$53M	trimmed−6%	−0.41 pp	4 q
CSLCarlisle Companies, Inc.	1.66%	210,551	$52M	trimmed−2%	+0.23 pp	4 q
INTCIntel Corp	1.62%	994,073	$51M	added+58%	+0.50 pp	4 q
TFCTruist Financial Corporation	1.57%	842,806	$49M	trimmed−0%	−0.09 pp	4 q
UNPUnion Pacific Corp.	1.28%	160,767	$41M	trimmed−1%	+0.22 pp	4 q
DEODiageo plc	1.07%	153,361	$34M	trimmed−4%	+0.04 pp	4 q
FMSFresenius Medical Care AG	1.06%	1,025,945	$33M	added+21%	+0.07 pp	4 q
unresolvedUnilever Spn.Adr 1:1	0.80%	471,705	$25M	trimmed−5%	−0.10 pp	4 q
MSMorgan Stanley	0.74%	237,835	$23M	held	—	4 q
CNHCnh Industrial N.v.	0.64%	1,032,584	$20M	trimmed−3%	+0.05 pp	4 q
CNXCConcentrix Corporation	0.54%	95,019	$17M	trimmed−1%	−0.03 pp	4 q
PGRProgressive Corporation	0.53%	163,073	$17M	trimmed−1%	+0.03 pp	4 q
COPConocoPhillips	0.52%	225,883	$16M	trimmed−9%	−0.04 pp	4 q
VZVerizon Communications	0.48%	293,416	$15M	trimmed−0%	−0.05 pp	4 q
EMREmerson Electric Co.	0.40%	136,302	$13M	trimmed−53%	−0.51 pp	4 q
NWLINational Western Life Group, Inc. Class A	0.33%	48,804	$10M	trimmed−1%	−0.02 pp	4 q
NVSNovartis AG	0.29%	106,089	$9M	trimmed−5%	−0.01 pp	4 q
TTENTotalenergies SE -spon ADR	0.29%	184,933	$9M	trimmed−5%	−0.02 pp	4 q
unresolvedGlaxosmithkline PLC	0.28%	199,698	$9M	added+8%	+0.04 pp	4 q
BABAAlibaba Group Holding Limited	0.23%	59,810	$7M	trimmed−5%	−0.08 pp	4 q
BIDUBaidu, Inc.	0.13%	28,555	$4M	trimmed−6%	−0.03 pp	4 q
PSXPhillips 66	0.12%	50,228	$4M	trimmed−18%	−0.02 pp	4 q
BAXBaxter International Inc.	0.11%	39,801	$3M	trimmed−4%	0.00 pp	4 q
EPDEnterprise Products Partners L.P.	0.09%	136,295	$3M	held	—	4 q
ANATAmerican National Group, Inc.	0.08%	14,047	$3M	trimmed−4%	−0.01 pp	4 q
CKXCKX Lands, Inc.	0.00%	10,600	$122,000	held	—	4 q
AXPAmerican Express Company	—	−270,039	—	exited	−1.51 pp	—
JEFJefferies Financial Group Inc.	—	−84,440	—	exited	−0.10 pp	—
AITApplied Industrial Technologies, Inc.	—	−29,370	—	exited	−0.09 pp	—
HSBCHSBC Holdings PLC	—	−36,786	—	exited	−0.03 pp	—