Tweedy, Browne

Q3 2022 13F · by John Spears, portfolio manager

As of: Sep 30, 2022
Filed: Nov 15, 2022
US stock: $2.3B · prev $2.4B
Positions: 46 · prev 45
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

+1.6 pp in · −2.6 pp out

New 1 +0.05 pp
Added 9 +1.52 pp
Trimmed 32 −2.57 pp
Exited 0 0.00 pp

The book

Concentrated · behaves like 15 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 9.8% a year, about 10.3 years per position

Low
Moderate
High

Top 5 positions49% of US stock

BRK.A Berkshire Hathaway Inc. held held15.4%
JNJ Johnson & Johnson trimmed−0.12 pp trimmed−0.1210.7%
GOOGL Alphabet Inc. Class A added−0.58 pp added−0.5810.1%
GOOG Alphabet Inc. Class C trimmed−0.64 pp trimmed−0.646.7%
KOF Coca-Cola FEMSA, S.A.B DE C.V trimmed+0.51 pp trimmed+0.516.0%

Positions46 in this filing · 0 exited


BRK.ABerkshire Hathaway Inc.	15.44%	863	$351M	held	—	7 q
JNJJohnson & Johnson	10.71%	1,488,820	$243M	trimmed−0%	−0.12 pp	7 q
GOOGLAlphabet Inc. Class A	10.07%	2,391,480	$229M	added0%	−0.58 pp	7 q
GOOGAlphabet Inc. Class C	6.68%	1,578,765	$152M	trimmed−4%	−0.64 pp	7 q
KOFCoca-Cola FEMSA, S.A.B DE C.V	6.01%	2,339,541	$137M	trimmed−4%	+0.51 pp	7 q
FMCFMC Corporation	5.76%	1,238,282	$131M	added+4%	+0.56 pp	5 q
IONSIonis Pharmaceuticals, Inc.	5.30%	2,722,988	$120M	trimmed−0%	+1.17 pp	3 q
AZOAutoZone, Inc.	4.60%	48,839	$105M	trimmed−9%	−0.12 pp	7 q
ALVAutoliv, Inc.	3.27%	1,115,317	$74M	added+2%	+0.06 pp	7 q
WFCWells Fargo & Co.	2.75%	1,555,090	$63M	trimmed−5%	+0.14 pp	7 q
BNYBank of New York Mellon Corporation	2.53%	1,490,827	$57M	trimmed−1%	−0.05 pp	7 q
CNXCConcentrix Corporation	2.48%	504,353	$56M	added×5.4	+1.97 pp	7 q
BACBank of America Corporation	2.32%	1,744,903	$53M	trimmed−7%	−0.07 pp	7 q
BRK.BBERKSHIRE HATHAWAY Class B	2.27%	192,829	$51M	trimmed−1%	+0.09 pp	7 q
CSCOCisco Systems, Inc. (DE)	1.87%	1,063,483	$43M	trimmed−11%	−0.20 pp	7 q
USBU.S. Bancorp	1.63%	918,298	$37M	trimmed−2%	−0.13 pp	7 q
TFCTruist Financial Corporation	1.57%	818,904	$36M	trimmed−0%	−0.02 pp	7 q
INTCIntel Corp	1.39%	1,223,850	$32M	trimmed−4%	−0.55 pp	7 q
FOXFox Corporation Class B	1.38%	1,100,270	$31M	trimmed−34%	−0.65 pp	7 q
UNPUnion Pacific Corp.	1.36%	158,458	$31M	trimmed−0%	−0.02 pp	7 q
FDXFedEx Corporation	1.24%	189,887	$28M	added+3%	−0.46 pp	2 q
DEODiageo plc	1.10%	147,583	$25M	trimmed−1%	+0.04 pp	7 q
unresolvedUnilever Spn.Adr 1:1	0.88%	458,543	$20M	trimmed0%	+0.02 pp	7 q
PGRProgressive Corporation	0.83%	161,908	$19M	trimmed−1%	+0.05 pp	7 q
AXPAmerican Express Company	0.74%	123,794	$17M	trimmed−0%	+0.04 pp	2 q
FMSFresenius Medical Care AG	0.62%	1,003,036	$14M	trimmed−1%	−0.42 pp	7 q
THOThor Industries, Inc.	0.60%	195,584	$14M	trimmed−0%	0.00 pp	3 q
PARAParamount Global-class B	0.56%	663,765	$13M	added+3%	−0.09 pp	2 q
CMCSAComcast Corp	0.50%	387,756	$11M	trimmed−63%	−1.18 pp	7 q
CNHCnh Industrial N.v.	0.48%	967,803	$11M	trimmed−0%	+0.02 pp	7 q
CSLCarlisle Companies, Inc.	0.41%	33,404	$9M	added0%	+0.08 pp	7 q
MSMorgan Stanley	0.37%	105,055	$8M	trimmed−14%	−0.01 pp	7 q
TTENTotalenergies SE -spon ADR	0.35%	171,887	$8M	added0%	−0.02 pp	7 q
NVSNovartis AG	0.34%	100,709	$8M	added+2%	0.00 pp	7 q
NWLINational Western Life Group, Inc. Class A	0.33%	44,434	$8M	trimmed−1%	−0.04 pp	7 q
unresolvedGlaxosmithkline PLC	0.19%	145,663	$4M	trimmed−24%	−0.15 pp	7 q
BABAAlibaba Group Holding Limited	0.15%	41,240	$3M	trimmed−1%	−0.04 pp	7 q
EMREmerson Electric Co.	0.15%	47,451	$3M	trimmed−24%	−0.05 pp	7 q
COPConocoPhillips	0.14%	31,252	$3M	trimmed−6%	+0.02 pp	7 q
EPDEnterprise Products Partners L.P.	0.14%	136,295	$3M	held	—	7 q
BIDUBaidu, Inc.	0.13%	24,371	$3M	trimmed−1%	−0.02 pp	7 q
PSXPhillips 66	0.12%	32,493	$3M	held	—	7 q
VZVerizon Communications	0.10%	61,229	$2M	trimmed−55%	−0.18 pp	7 q
BAXBaxter International Inc.	0.09%	38,991	$2M	trimmed−1%	−0.01 pp	7 q
HLNHaleon plc	0.05%	179,811	$1M	new	+0.05 pp	new
CKXCKX Lands, Inc.	0.01%	10,600	$116,000	held	—	7 q