Tweedy, Browne

Q3 2024 13F · by John Spears, portfolio manager

As of: Sep 30, 2024
Filed: Nov 12, 2024
US stock: $2.1B · prev $2.2B
Positions: 43 · 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%

Moves40 since the prior filing

+0.2 pp in · +0.8 pp out

New 1 +0.18 pp
Added 0 0.00 pp
Trimmed 37 +1.85 pp
Exited 2 −1.07 pp

The book

Concentrated · behaves like 11 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 0.7% a year, more than 30 years per position

Low
Moderate
High

Top 5 positions59% of US stock

BRK.A Berkshire Hathaway Inc. trimmed+0.22 pp trimmed+0.2218.6%
GOOGL Alphabet Inc. Class A trimmed−2.84 pp trimmed−2.8413.4%
FMC FMC Corporation trimmed+1.47 pp trimmed+1.479.8%
JNJ Johnson & Johnson trimmed+1.10 pp trimmed+1.108.7%
CNH Cnh Industrial N.v. trimmed+0.95 pp trimmed+0.958.1%

Positions43 in this filing · 2 exited


BRK.ABerkshire Hathaway Inc.	18.58%	564	$390M	trimmed−14%	+0.22 pp	15 q
GOOGLAlphabet Inc. Class A	13.45%	1,701,654	$282M	trimmed−12%	−2.84 pp	15 q
FMCFMC Corporation	9.83%	3,125,442	$206M	trimmed−1%	+1.47 pp	13 q
JNJJohnson & Johnson	8.70%	1,126,182	$183M	trimmed−0%	+1.10 pp	15 q
CNHCnh Industrial N.v.	8.11%	15,334,473	$170M	trimmed−0%	+0.95 pp	15 q
IONSIonis Pharmaceuticals, Inc.	6.60%	3,454,676	$138M	held	—	11 q
KOFCoca-Cola FEMSA, S.A.B DE C.V	5.86%	1,385,475	$123M	trimmed−0%	+0.37 pp	15 q
BRK.BBERKSHIRE HATHAWAY Class B	3.09%	140,855	$65M	trimmed−6%	+0.29 pp	15 q
WFCWells Fargo & Co.	2.30%	854,276	$48M	trimmed−2%	−0.08 pp	15 q
ALVAutoliv, Inc.	2.10%	471,284	$44M	trimmed−0%	−0.22 pp	15 q
UHAL.BU-Haul Holding Company	2.05%	598,368	$43M	trimmed−1%	+0.39 pp	6 q
FDXFedEx Corporation	2.05%	157,226	$43M	trimmed−2%	−0.17 pp	10 q
NVSTEnvista Holdings Corporation, $0.01 par value per share	1.78%	1,887,420	$37M	trimmed−1%	+0.33 pp	3 q
AZOAutoZone, Inc.	1.66%	11,024	$35M	trimmed−9%	+0.01 pp	15 q
TFCTruist Financial Corporation	1.55%	760,929	$33M	trimmed−2%	+0.16 pp	15 q
SEESealed Air Corp New	1.33%	766,121	$28M	trimmed−14%	−0.10 pp	6 q
AXPAmerican Express Company	1.29%	100,037	$27M	trimmed−4%	+0.18 pp	10 q
VRTXVertex Pharmaceuticals Inc	1.19%	53,600	$25M	trimmed−1%	+0.02 pp	5 q
BACBank of America Corporation	0.96%	506,461	$20M	trimmed−2%	+0.02 pp	15 q
DEODiageo plc	0.93%	139,325	$20M	trimmed−1%	+0.11 pp	15 q
BNYBank of New York Mellon Corporation	0.90%	263,670	$19M	trimmed−6%	+0.13 pp	15 q
USBU.S. Bancorp	0.54%	247,567	$11M	trimmed−2%	+0.08 pp	15 q
CSCOCisco Systems, Inc. (DE)	0.53%	210,529	$11M	trimmed−9%	+0.03 pp	15 q
UNPUnion Pacific Corp.	0.50%	42,889	$11M	trimmed−1%	+0.05 pp	15 q
NVSNovartis AG	0.47%	85,347	$10M	trimmed−3%	+0.04 pp	15 q
TTENTotalenergies SE -spon ADR	0.45%	144,828	$9M	trimmed−3%	−0.01 pp	3 q
GOOGAlphabet Inc. Class C	0.43%	54,575	$9M	trimmed−63%	−0.82 pp	15 q
KVUEKenvue Inc.	0.42%	383,206	$9M	trimmed−2%	+0.09 pp	5 q
CNXCConcentrix Corporation	0.40%	164,205	$8M	trimmed−1%	−0.08 pp	15 q
PGRProgressive Corporation	0.25%	20,891	$5M	trimmed−6%	+0.04 pp	15 q
ATMUAtmus Filtration Technologies Inc.	0.24%	131,732	$5M	trimmed−0%	+0.07 pp	5 q
unresolvedUnilever Spn.Adr 1:1	0.22%	70,274	$5M	trimmed−28%	−0.03 pp	15 q
GSKGSK plc	0.21%	108,035	$4M	trimmed−2%	+0.02 pp	8 q
EPDEnterprise Products Partners L.P.	0.19%	136,295	$4M	held	—	15 q
PSXPhillips 66	0.19%	30,228	$4M	held	—	15 q
GLGlobe Life Inc.	0.18%	35,502	$4M	new	+0.18 pp	new
COPConocoPhillips	0.13%	26,718	$3M	trimmed−1%	−0.01 pp	15 q
BABAAlibaba Group Holding Limited	0.07%	12,940	$1M	trimmed−5%	+0.02 pp	15 q
CMCSAComcast Corp	0.07%	35,481	$1M	trimmed−6%	0.00 pp	15 q
EMREmerson Electric Co.	0.06%	11,954	$1M	held	—	15 q
VZVerizon Communications	0.06%	27,004	$1M	trimmed−6%	+0.01 pp	15 q
HLNHaleon plc	0.05%	93,584	$990,119	trimmed−2%	+0.01 pp	9 q
BAXBaxter International Inc.	0.02%	9,861	$374,422	held	—	15 q
NWLINational Western Life Group, Inc. Class A	—	−43,677	—	exited	−1.00 pp	—
BIDUBaidu, Inc.	—	−17,454	—	exited	−0.07 pp	—