Tweedy, Browne

Q2 2024 13F · by John Spears, portfolio manager

As of: Jun 30, 2024
Filed: Aug 12, 2024
US stock: $2.2B · prev $2.1B
Positions: 44 · 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

+7.8 pp in · −8.3 pp out

New 0 0.00 pp
Added 3 +7.82 pp
Trimmed 38 −8.30 pp
Exited 1 −0.04 pp

The book

Concentrated · behaves like 11 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 28% a year, about 3.6 years per position

Low
Moderate
High

Top 5 positions58% of US stock

BRK.A Berkshire Hathaway Inc. trimmed−1.36 pp trimmed−1.3618.4%
GOOGL Alphabet Inc. Class A trimmed+2.09 pp trimmed+2.0916.3%
FMC FMC Corporation added+0.86 pp added+0.868.4%
JNJ Johnson & Johnson trimmed−0.82 pp trimmed−0.827.6%
IONS Ionis Pharmaceuticals, Inc. held held7.6%

Positions44 in this filing · 1 exited


BRK.ABerkshire Hathaway Inc.	18.36%	652	$399M	trimmed−2%	−1.36 pp	14 q
GOOGLAlphabet Inc. Class A	16.29%	1,944,587	$354M	trimmed−3%	+2.09 pp	14 q
FMCFMC Corporation	8.36%	3,159,056	$182M	added+26%	+0.86 pp	12 q
JNJJohnson & Johnson	7.60%	1,130,462	$165M	trimmed−0%	−0.82 pp	14 q
IONSIonis Pharmaceuticals, Inc.	7.57%	3,454,676	$165M	held	—	10 q
CNHCnh Industrial N.v.	7.16%	15,362,043	$156M	added×14.2	+6.50 pp	14 q
KOFCoca-Cola FEMSA, S.A.B DE C.V	5.49%	1,389,727	$119M	trimmed−6%	−1.23 pp	14 q
BRK.BBERKSHIRE HATHAWAY Class B	2.80%	149,883	$61M	trimmed−7%	−0.38 pp	14 q
WFCWells Fargo & Co.	2.38%	870,944	$52M	trimmed−2%	−0.05 pp	14 q
ALVAutoliv, Inc.	2.32%	471,959	$50M	trimmed−51%	−3.12 pp	14 q
FDXFedEx Corporation	2.22%	160,957	$48M	trimmed−1%	+0.01 pp	9 q
UHAL.BU-Haul Holding Company	1.66%	601,930	$36M	trimmed−1%	−0.24 pp	5 q
AZOAutoZone, Inc.	1.65%	12,126	$36M	trimmed−1%	−0.16 pp	14 q
NVSTEnvista Holdings Corporation, $0.01 par value per share	1.45%	1,902,167	$32M	added+93%	+0.46 pp	2 q
SEESealed Air Corp New	1.43%	893,380	$31M	trimmed−1%	−0.15 pp	5 q
TFCTruist Financial Corporation	1.39%	779,724	$30M	trimmed−2%	−0.07 pp	14 q
GOOGAlphabet Inc. Class C	1.25%	147,973	$27M	trimmed−64%	−1.71 pp	14 q
VRTXVertex Pharmaceuticals Inc	1.17%	54,346	$25M	trimmed−19%	−0.14 pp	4 q
AXPAmerican Express Company	1.11%	104,088	$24M	trimmed−5%	−0.06 pp	9 q
NWLINational Western Life Group, Inc. Class A	1.00%	43,677	$22M	trimmed−0%	−0.01 pp	14 q
BACBank of America Corporation	0.94%	514,666	$20M	trimmed−1%	+0.01 pp	14 q
DEODiageo plc	0.82%	141,304	$18M	trimmed−1%	−0.18 pp	14 q
BNYBank of New York Mellon Corporation	0.77%	280,651	$17M	trimmed−14%	−0.11 pp	14 q
CSCOCisco Systems, Inc. (DE)	0.50%	230,860	$11M	trimmed−5%	−0.07 pp	14 q
CNXCConcentrix Corporation	0.48%	166,323	$11M	trimmed−4%	−0.06 pp	14 q
TTENTotalenergies SE -spon ADR	0.46%	148,887	$10M	trimmed−6%	−0.05 pp	2 q
USBU.S. Bancorp	0.46%	253,807	$10M	trimmed−6%	−0.10 pp	14 q
UNPUnion Pacific Corp.	0.45%	43,369	$10M	trimmed−2%	−0.06 pp	14 q
NVSNovartis AG	0.43%	87,606	$9M	trimmed−2%	+0.02 pp	14 q
KVUEKenvue Inc.	0.33%	390,743	$7M	trimmed−5%	−0.08 pp	4 q
unresolvedUnilever Spn.Adr 1:1	0.25%	97,693	$5M	trimmed−8%	0.00 pp	14 q
PGRProgressive Corporation	0.21%	22,330	$5M	trimmed−8%	−0.03 pp	14 q
PSXPhillips 66	0.20%	30,228	$4M	trimmed−3%	−0.04 pp	14 q
GSKGSK plc	0.19%	109,855	$4M	trimmed−11%	−0.06 pp	7 q
EPDEnterprise Products Partners L.P.	0.18%	136,295	$4M	held	—	14 q
ATMUAtmus Filtration Technologies Inc.	0.17%	132,195	$4M	held	—	4 q
COPConocoPhillips	0.14%	27,038	$3M	trimmed−2%	−0.02 pp	14 q
BIDUBaidu, Inc.	0.07%	17,454	$2M	trimmed−10%	−0.03 pp	14 q
CMCSAComcast Corp	0.07%	37,641	$1M	trimmed−6%	−0.01 pp	14 q
EMREmerson Electric Co.	0.06%	11,954	$1M	trimmed−10%	−0.01 pp	14 q
BABAAlibaba Group Holding Limited	0.05%	13,675	$984,600	trimmed−21%	−0.01 pp	14 q
VZVerizon Communications	0.05%	28,814	$1M	trimmed−12%	−0.01 pp	14 q
HLNHaleon plc	0.04%	95,609	$789,730	trimmed−13%	0.00 pp	8 q
BAXBaxter International Inc.	0.02%	9,861	$329,850	trimmed−8%	0.00 pp	14 q
CSLCarlisle Companies, Inc.	—	−1,995	—	exited	−0.04 pp	—