Tweedy, Browne

Q2 2023 13F · by John Spears, portfolio manager

As of: Jun 30, 2023
Filed: Aug 14, 2023
US stock: $1.9B · prev $1.8B
Positions: 46 · 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%

Moves39 since the prior filing

+2.2 pp in · −2.1 pp out

New 2 +2.29 pp
Added 2 −0.10 pp
Trimmed 35 −2.13 pp
Exited 0 0.00 pp

The book

Concentrated · behaves like 12 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 9.5% a year, about 10.5 years per position

Low
Moderate
High

Top 5 positions57% of US stock

BRK.A Berkshire Hathaway Inc. trimmed+1.00 pp trimmed+1.0018.2%
GOOGL Alphabet Inc. Class A trimmed+1.24 pp trimmed+1.2412.6%
JNJ Johnson & Johnson trimmed+0.12 pp trimmed+0.1210.5%
KOF Coca-Cola FEMSA, S.A.B DE C.V trimmed−0.45 pp trimmed−0.458.0%
IONS Ionis Pharmaceuticals, Inc. trimmed+0.74 pp trimmed+0.747.6%

Positions46 in this filing · 0 exited


BRK.ABerkshire Hathaway Inc.	18.24%	671	$347M	trimmed−1%	+1.00 pp	10 q
GOOGLAlphabet Inc. Class A	12.62%	2,007,952	$240M	trimmed−0%	+1.24 pp	10 q
JNJJohnson & Johnson	10.51%	1,209,396	$200M	trimmed−2%	+0.12 pp	10 q
KOFCoca-Cola FEMSA, S.A.B DE C.V	7.98%	1,825,172	$152M	trimmed−5%	−0.45 pp	10 q
IONSIonis Pharmaceuticals, Inc.	7.63%	3,540,858	$145M	trimmed−0%	+0.74 pp	6 q
FMCFMC Corporation	5.52%	1,008,400	$105M	trimmed−4%	−1.46 pp	8 q
ALVAutoliv, Inc.	4.54%	1,017,172	$87M	trimmed−5%	−0.91 pp	10 q
GOOGAlphabet Inc. Class C	3.78%	594,661	$72M	trimmed−1%	+0.38 pp	10 q
BRK.BBERKSHIRE HATHAWAY Class B	3.31%	185,012	$63M	trimmed−3%	+0.10 pp	10 q
AZOAutoZone, Inc.	2.49%	19,051	$48M	trimmed−12%	−0.39 pp	10 q
CSCOCisco Systems, Inc. (DE)	2.28%	838,040	$43M	trimmed−1%	−0.13 pp	10 q
FDXFedEx Corporation	2.21%	169,559	$42M	trimmed−0%	+0.10 pp	5 q
WFCWells Fargo & Co.	2.14%	957,109	$41M	trimmed−0%	+0.19 pp	10 q
BNYBank of New York Mellon Corporation	1.64%	702,774	$31M	trimmed−10%	−0.29 pp	10 q
TFCTruist Financial Corporation	1.34%	841,871	$26M	trimmed−8%	−0.35 pp	10 q
DEODiageo plc	1.33%	146,275	$25M	trimmed−0%	−0.11 pp	10 q
UHAL.BU-Haul Holding Company	1.15%	433,208	$22M	new	+1.15 pp	new
SEESealed Air Corp New	1.14%	545,295	$22M	new	+1.14 pp	new
AXPAmerican Express Company	1.09%	119,329	$21M	trimmed−0%	+0.01 pp	5 q
NWLINational Western Life Group, Inc. Class A	0.97%	44,269	$18M	trimmed−0%	+0.38 pp	10 q
CNXCConcentrix Corporation	0.94%	222,753	$18M	trimmed−19%	−0.89 pp	10 q
BACBank of America Corporation	0.82%	546,361	$16M	added+10%	+0.05 pp	10 q
CNHCnh Industrial N.v.	0.65%	855,350	$12M	trimmed−1%	−0.07 pp	10 q
THOThor Industries, Inc.	0.59%	109,371	$11M	trimmed−0%	+0.11 pp	6 q
USBU.S. Bancorp	0.55%	318,238	$11M	trimmed−15%	−0.18 pp	10 q
NVSNovartis AG	0.51%	96,056	$10M	trimmed−2%	+0.02 pp	10 q
unresolvedTotalenergies SE ADR	0.50%	165,556	$10M	trimmed−0%	−0.03 pp	2 q
UNPUnion Pacific Corp.	0.48%	45,098	$9M	held	—	10 q
FMSFresenius Medical Care AG	0.43%	339,637	$8M	trimmed−1%	+0.03 pp	10 q
unresolvedUnilever Spn.Adr 1:1	0.42%	151,724	$8M	trimmed−54%	−0.50 pp	10 q
PARAParamount Global-class B	0.32%	384,298	$6M	added0%	−0.15 pp	5 q
GSKGSK plc	0.25%	134,514	$5M	trimmed−1%	−0.01 pp	3 q
PGRProgressive Corporation	0.24%	34,550	$5M	held	—	10 q
EPDEnterprise Products Partners L.P.	0.19%	136,295	$4M	held	—	10 q
COPConocoPhillips	0.17%	30,492	$3M	trimmed−0%	0.00 pp	10 q
BIDUBaidu, Inc.	0.16%	22,389	$3M	trimmed−1%	−0.03 pp	10 q
PSXPhillips 66	0.16%	32,271	$3M	held	—	10 q
BABAAlibaba Group Holding Limited	0.15%	35,388	$3M	trimmed−3%	−0.05 pp	10 q
VZVerizon Communications	0.13%	65,224	$2M	held	—	10 q
CMCSAComcast Corp	0.11%	50,564	$2M	trimmed−68%	−0.22 pp	10 q
EMREmerson Electric Co.	0.10%	22,032	$2M	trimmed−5%	−0.01 pp	10 q
INTCIntel Corp	0.09%	53,684	$2M	trimmed−81%	−0.41 pp	10 q
HLNHaleon plc	0.05%	122,418	$1M	trimmed−8%	−0.01 pp	4 q
BAXBaxter International Inc.	0.03%	11,288	$514,000	trimmed−70%	−0.05 pp	10 q
CSLCarlisle Companies, Inc.	0.03%	2,469	$633,000	held	—	10 q
CKXCKX Lands, Inc.	0.01%	10,600	$106,000	held	—	10 q