Tweedy, Browne

Q2 2022 13F · by John Spears, portfolio manager

As of: Jun 30, 2022
Filed: Aug 10, 2022
US stock: $2.4B · prev $3.1B
Positions: 45 · prev 44
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%

Moves43 since the prior filing

+3.0 pp in · −2.9 pp out

New 3 +3.05 pp
Added 1 −0.08 pp
Trimmed 37 −1.15 pp
Exited 2 −1.74 pp

The book

Concentrated · behaves like 15 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 12% a year, about 8.1 years per position

Low
Moderate
High

Top 5 positions49% of US stock

BRK.A Berkshire Hathaway Inc. held held14.4%
JNJ Johnson & Johnson trimmed+1.88 pp trimmed+1.8810.8%
GOOGL Alphabet Inc. Class A trimmed−0.75 pp trimmed−0.7510.7%
GOOG Alphabet Inc. Class C trimmed−0.10 pp trimmed−0.107.3%
KOF Coca-Cola FEMSA, S.A.B DE C.V trimmed+0.74 pp trimmed+0.745.5%

Positions45 in this filing · 2 exited


BRK.ABerkshire Hathaway Inc.	14.43%	863	$353M	held	—	6 q
JNJJohnson & Johnson	10.83%	1,492,146	$265M	trimmed−5%	+1.88 pp	6 q
GOOGLAlphabet Inc. Class A	10.65%	119,490	$260M	trimmed−6%	−0.75 pp	6 q
GOOGAlphabet Inc. Class C	7.32%	81,803	$179M	trimmed−1%	−0.10 pp	6 q
KOFCoca-Cola FEMSA, S.A.B DE C.V	5.50%	2,434,974	$135M	trimmed−9%	+0.74 pp	6 q
FMCFMC Corporation	5.20%	1,187,367	$127M	trimmed−0%	+0.13 pp	4 q
AZOAutoZone, Inc.	4.72%	53,746	$116M	trimmed−26%	−0.10 pp	6 q
IONSIonis Pharmaceuticals, Inc.	4.13%	2,726,778	$101M	trimmed−7%	+0.63 pp	2 q
ALVAutoliv, Inc.	3.21%	1,095,510	$78M	trimmed−2%	+0.44 pp	6 q
WFCWells Fargo & Co.	2.61%	1,632,373	$64M	trimmed−20%	−0.58 pp	6 q
BNYBank of New York Mellon Corporation	2.58%	1,512,376	$63M	trimmed−14%	−0.23 pp	6 q
BACBank of America Corporation	2.39%	1,878,523	$58M	trimmed−3%	−0.18 pp	6 q
BRK.BBERKSHIRE HATHAWAY Class B	2.18%	195,475	$53M	trimmed−30%	−1.00 pp	6 q
CSCOCisco Systems, Inc. (DE)	2.07%	1,189,354	$51M	trimmed−28%	−0.90 pp	6 q
FOXFox Corporation Class B	2.03%	1,669,868	$50M	trimmed−24%	−0.54 pp	6 q
INTCIntel Corp	1.94%	1,268,690	$47M	added+1%	−0.08 pp	6 q
USBU.S. Bancorp	1.76%	935,930	$43M	trimmed−13%	−0.08 pp	6 q
FDXFedEx Corporation	1.70%	183,723	$42M	new	+1.70 pp	new
CMCSAComcast Corp	1.68%	1,047,683	$41M	trimmed−0%	+0.09 pp	6 q
TFCTruist Financial Corporation	1.59%	821,582	$39M	trimmed−3%	+0.05 pp	6 q
UNPUnion Pacific Corp.	1.38%	158,658	$34M	trimmed−1%	−0.03 pp	6 q
DEODiageo plc	1.06%	148,423	$26M	trimmed−1%	+0.07 pp	6 q
FMSFresenius Medical Care AG	1.04%	1,016,440	$25M	trimmed−1%	−0.08 pp	6 q
unresolvedUnilever Spn.Adr 1:1	0.86%	458,561	$21M	trimmed−1%	+0.18 pp	6 q
PGRProgressive Corporation	0.78%	163,518	$19M	held	—	6 q
AXPAmerican Express Company	0.70%	123,989	$17M	new	+0.70 pp	new
PARAParamount Global-class B	0.65%	646,810	$16M	new	+0.65 pp	new
THOThor Industries, Inc.	0.60%	195,679	$15M	trimmed−15%	+0.01 pp	2 q
CNXCConcentrix Corporation	0.51%	92,660	$13M	trimmed−1%	+0.01 pp	6 q
CNHCnh Industrial N.v.	0.46%	970,133	$11M	trimmed−4%	−0.06 pp	6 q
MSMorgan Stanley	0.38%	122,670	$9M	trimmed−46%	−0.26 pp	6 q
NWLINational Western Life Group, Inc. Class A	0.37%	44,969	$9M	trimmed−1%	+0.06 pp	6 q
TTENTotalenergies SE -spon ADR	0.37%	171,162	$9M	trimmed−4%	+0.08 pp	6 q
unresolvedGlaxosmithkline PLC	0.34%	190,421	$8M	trimmed−3%	+0.06 pp	6 q
NVSNovartis AG	0.34%	98,430	$8M	trimmed−3%	+0.05 pp	6 q
CSLCarlisle Companies, Inc.	0.33%	33,384	$8M	trimmed−61%	−0.35 pp	6 q
VZVerizon Communications	0.28%	136,681	$7M	trimmed−54%	−0.20 pp	6 q
EMREmerson Electric Co.	0.20%	62,465	$5M	trimmed−54%	−0.23 pp	6 q
BABAAlibaba Group Holding Limited	0.19%	41,840	$5M	trimmed−30%	−0.02 pp	6 q
BIDUBaidu, Inc.	0.15%	24,496	$4M	trimmed−10%	+0.03 pp	6 q
EPDEnterprise Products Partners L.P.	0.14%	136,295	$3M	held	—	6 q
COPConocoPhillips	0.12%	33,197	$3M	trimmed−3%	+0.01 pp	6 q
PSXPhillips 66	0.11%	32,493	$3M	trimmed−4%	+0.02 pp	6 q
BAXBaxter International Inc.	0.10%	39,222	$3M	trimmed−0%	0.00 pp	6 q
CKXCKX Lands, Inc.	0.00%	10,600	$118,000	held	—	6 q
MMM3M Company	—	−344,800	—	exited	−1.66 pp	—
ANATAmerican National Group, Inc.	—	−13,507	—	exited	−0.08 pp	—