Tweedy, Browne

Q1 2024 13F · by John Spears, portfolio manager

As of: Mar 31, 2024
Filed: May 6, 2024
US stock: $2.1B · prev $2.0B
Positions: 45 · 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 · −2.4 pp out

New 2 +1.50 pp
Added 4 +0.14 pp
Trimmed 34 −1.32 pp
Exited 2 −1.08 pp

The book

Concentrated · behaves like 11 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 7.0% a year, about 14.2 years per position

Low
Moderate
High

Top 5 positions57% of US stock

Positions45 in this filing · 2 exited


BRK.ABerkshire Hathaway Inc.	19.72%	662	$420M	held	—	13 q
GOOGLAlphabet Inc. Class A	14.20%	2,003,632	$302M	trimmed−0%	+0.51 pp	13 q
JNJJohnson & Johnson	8.42%	1,133,725	$179M	trimmed−0%	−0.26 pp	13 q
FMCFMC Corporation	7.50%	2,507,099	$160M	trimmed−15%	−1.62 pp	11 q
IONSIonis Pharmaceuticals, Inc.	7.03%	3,454,676	$150M	held	—	9 q
KOFCoca-Cola FEMSA, S.A.B DE C.V	6.72%	1,472,664	$143M	trimmed−7%	−0.57 pp	13 q
ALVAutoliv, Inc.	5.44%	962,767	$116M	trimmed−5%	−0.01 pp	13 q
BRK.BBERKSHIRE HATHAWAY Class B	3.18%	161,278	$68M	trimmed−1%	+0.35 pp	13 q
GOOGAlphabet Inc. Class C	2.96%	413,476	$63M	trimmed−8%	−0.12 pp	13 q
WFCWells Fargo & Co.	2.43%	892,334	$52M	trimmed−1%	+0.27 pp	13 q
FDXFedEx Corporation	2.21%	162,517	$47M	trimmed−0%	+0.20 pp	8 q
UHAL.BU-Haul Holding Company	1.90%	607,080	$40M	trimmed−0%	−0.19 pp	4 q
AZOAutoZone, Inc.	1.81%	12,225	$39M	trimmed−0%	+0.27 pp	13 q
SEESealed Air Corp New	1.58%	904,455	$34M	trimmed−0%	−0.03 pp	4 q
TFCTruist Financial Corporation	1.46%	796,679	$31M	added0%	+0.03 pp	13 q
VRTXVertex Pharmaceuticals Inc	1.31%	66,699	$28M	trimmed−0%	−0.02 pp	3 q
AXPAmerican Express Company	1.17%	109,209	$25M	trimmed−1%	+0.17 pp	8 q
NWLINational Western Life Group, Inc. Class A	1.01%	43,882	$22M	trimmed−0%	−0.03 pp	13 q
DEODiageo plc	1.00%	142,743	$21M	trimmed−0%	−0.02 pp	13 q
NVSTEnvista Holdings Corporation, $0.01 par value per share	0.99%	984,719	$21M	new	+0.99 pp	new
BACBank of America Corporation	0.93%	521,151	$20M	added+1%	+0.08 pp	13 q
BNYBank of New York Mellon Corporation	0.88%	326,643	$19M	trimmed−7%	−0.02 pp	13 q
CNHCnh Industrial N.v.	0.66%	1,081,542	$14M	added+32%	+0.17 pp	13 q
CSCOCisco Systems, Inc. (DE)	0.57%	242,254	$12M	trimmed−1%	−0.03 pp	13 q
USBU.S. Bancorp	0.56%	268,656	$12M	trimmed−1%	−0.02 pp	13 q
CNXCConcentrix Corporation	0.54%	173,338	$11M	added+22%	−0.14 pp	13 q
TTENTotalenergies SE -spon ADR	0.51%	157,657	$11M	new	+0.51 pp	new
UNPUnion Pacific Corp.	0.51%	44,463	$11M	trimmed−0%	−0.02 pp	13 q
KVUEKenvue Inc.	0.41%	409,953	$9M	trimmed−3%	−0.04 pp	3 q
NVSNovartis AG	0.41%	89,446	$9M	trimmed−1%	−0.04 pp	13 q
GSKGSK plc	0.25%	123,044	$5M	trimmed−1%	+0.02 pp	6 q
unresolvedUnilever Spn.Adr 1:1	0.25%	106,002	$5M	trimmed−13%	−0.04 pp	13 q
PSXPhillips 66	0.24%	31,309	$5M	trimmed−0%	+0.04 pp	13 q
PGRProgressive Corporation	0.24%	24,245	$5M	trimmed−5%	+0.04 pp	13 q
ATMUAtmus Filtration Technologies Inc.	0.20%	132,195	$4M	held	—	3 q
EPDEnterprise Products Partners L.P.	0.19%	136,295	$4M	held	—	13 q
COPConocoPhillips	0.16%	27,601	$4M	trimmed−0%	0.00 pp	13 q
BIDUBaidu, Inc.	0.10%	19,286	$2M	trimmed−5%	−0.02 pp	13 q
CMCSAComcast Corp	0.08%	39,881	$2M	trimmed−4%	−0.01 pp	13 q
EMREmerson Electric Co.	0.07%	13,326	$2M	trimmed−8%	0.00 pp	13 q
BABAAlibaba Group Holding Limited	0.06%	17,215	$1M	trimmed−11%	−0.01 pp	13 q
VZVerizon Communications	0.06%	32,589	$1M	trimmed−48%	−0.06 pp	13 q
CSLCarlisle Companies, Inc.	0.04%	1,995	$781,741	trimmed−15%	0.00 pp	13 q
HLNHaleon plc	0.04%	110,478	$937,958	trimmed−5%	−0.01 pp	7 q
BAXBaxter International Inc.	0.02%	10,731	$458,643	held	—	13 q
THOThor Industries, Inc.	—	−96,493	—	exited	−0.56 pp	—
unresolvedTotalenergies SE ADR	—	−158,444	—	exited	−0.52 pp	—