Tweedy, Browne

Q1 2026 13F · by John Spears, portfolio manager

As of: Mar 31, 2026
Filed: May 5, 2026
US stock: $1.3B · prev $1.2B
Positions: 93 · prev 96
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%

Moves91 since the prior filing

+3.9 pp in · −3.2 pp out

New 6 +1.43 pp
Added 46 +2.44 pp
Trimmed 30 −2.45 pp
Exited 9 −0.79 pp

The book

Concentrated · behaves like 13 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 15% a year, about 6.7 years per position

Low
Moderate
High

Top 5 positions53% of US stock

CNH Cnh Industrial N.v. trimmed+2.59 pp trimmed+2.5917.6%
IONS Ionis Pharmaceuticals, Inc. trimmed−2.17 pp trimmed−2.1713.6%
KOF Coca-Cola FEMSA, S.A.B DE C.V trimmed−0.02 pp trimmed−0.029.1%
BRK.A Berkshire Hathaway Inc. held held8.2%
GOOGL Alphabet Inc. Class A trimmed−0.51 pp trimmed−0.514.5%

Positions93 in this filing · 9 exited


CNHCnh Industrial N.v.	17.61%	20,150,358	$222M	trimmed−0%	+2.59 pp	21 q
IONSIonis Pharmaceuticals, Inc.	13.57%	2,275,625	$171M	trimmed−8%	−2.17 pp	17 q
KOFCoca-Cola FEMSA, S.A.B DE C.V	9.07%	1,170,026	$114M	trimmed−2%	−0.02 pp	21 q
BRK.ABerkshire Hathaway Inc.	8.22%	144	$103M	held	—	21 q
GOOGLAlphabet Inc. Class A	4.53%	198,341	$57M	trimmed−1%	−0.51 pp	21 q
JNJJohnson & Johnson	4.26%	219,490	$54M	trimmed−7%	+0.32 pp	21 q
BRK.BBERKSHIRE HATHAWAY Class B	3.71%	97,406	$47M	added0%	−0.23 pp	21 q
WFCWells Fargo & Co.	3.26%	515,920	$41M	trimmed−8%	−0.95 pp	21 q
ALVAutoliv, Inc.	3.20%	383,592	$40M	trimmed−4%	−0.64 pp	21 q
NVSTEnvista Holdings Corporation, $0.01 par value per share	2.90%	1,436,781	$36M	trimmed−0%	+0.37 pp	9 q
FDXFedEx Corporation	2.09%	74,035	$26M	trimmed−34%	−0.54 pp	16 q
TFCTruist Financial Corporation	2.04%	557,435	$26M	trimmed−1%	−0.19 pp	21 q
UNFUnifirst Corp	2.03%	101,671	$26M	trimmed−0%	+0.44 pp	2 q
UHAL.BU-Haul Holding Company	1.64%	463,332	$21M	trimmed−1%	−0.12 pp	12 q
AXPAmerican Express Company	1.51%	62,985	$19M	trimmed−2%	−0.42 pp	16 q
AZOAutoZone, Inc.	1.49%	5,535	$19M	trimmed−1%	−0.04 pp	21 q
SEESealed Air Corp New	1.43%	509,581	$18M	held	—	12 q
VRTXVertex Pharmaceuticals Inc	1.43%	40,387	$18M	added+3%	0.00 pp	11 q
BACBank of America Corporation	1.41%	365,274	$18M	trimmed−2%	−0.25 pp	21 q
BNYBank of New York Mellon Corporation	1.03%	108,955	$13M	trimmed−14%	−0.16 pp	21 q
JAZZJazz Pharmaceuticals, Inc.	0.90%	60,209	$11M	new	+0.90 pp	new
NVSNovartis AG	0.87%	71,305	$11M	trimmed−5%	+0.04 pp	21 q
TTETotalEnergies SE	0.85%	117,603	$11M	trimmed−13%	+0.14 pp	2 q
USBU.S. Bancorp	0.76%	184,248	$10M	trimmed−1%	−0.04 pp	21 q
DEODiageo plc	0.75%	126,211	$9M	trimmed−3%	−0.15 pp	21 q
UNPUnion Pacific Corp.	0.37%	19,185	$5M	trimmed−4%	0.00 pp	21 q
GSKGSK plc	0.36%	81,785	$5M	trimmed−1%	+0.03 pp	14 q
SNEXStoneX Group Inc.	0.35%	54,035	$4M	added+59%	+0.18 pp	3 q
CSCOCisco Systems, Inc. (DE)	0.34%	55,199	$4M	trimmed−2%	−0.01 pp	21 q
COPConocoPhillips	0.32%	30,705	$4M	added+18%	+0.12 pp	21 q
GLGlobe Life Inc.	0.31%	27,833	$4M	held	—	7 q
KTKT Corp.	0.28%	167,181	$4M	added+91%	+0.15 pp	5 q
ULUnilever plc	0.23%	51,693	$3M	trimmed−7%	−0.06 pp	2 q
HAFNHafnia Limited	0.23%	376,903	$3M	added+92%	+0.15 pp	5 q
PGRProgressive Corporation	0.22%	13,711	$3M	held	—	21 q
NENoble Corporation plc	0.21%	54,434	$3M	added+57%	+0.13 pp	4 q
TRMDTORM plc Class A	0.21%	92,911	$3M	added+91%	+0.13 pp	4 q
NTRNutrien Ltd.	0.20%	34,137	$3M	added+92%	+0.11 pp	4 q
REZIResideo Technologies, Inc.	0.20%	73,628	$2M	added+58%	+0.07 pp	4 q
BFHBread Financial Holdings, Inc.	0.19%	31,262	$2M	added+59%	+0.07 pp	4 q
PSXPhillips 66	0.18%	12,367	$2M	trimmed−1%	+0.05 pp	21 q
HCIHCI Group, Inc.	0.17%	10,906	$2M	held	—	5 q
TDWTidewater, Inc.	0.17%	25,919	$2M	added+56%	+0.10 pp	4 q
ZIONZions Bancorporation N.A.	0.17%	37,877	$2M	added+57%	+0.06 pp	5 q
ARLPAlliance Resource Partners LP	0.16%	72,382	$2M	added+55%	+0.07 pp	5 q
PNCPNC Financial Services Group	0.16%	9,415	$2M	added+55%	+0.06 pp	3 q
AGCOAGCO Corporation	0.15%	16,647	$2M	added+53%	+0.06 pp	4 q
ALSNAllison Transmission Holdings, Inc.	0.15%	15,796	$2M	added+57%	+0.07 pp	3 q
EPDEnterprise Products Partners L.P.	0.15%	51,549	$2M	trimmed−52%	−0.13 pp	21 q
DINOHF Sinclair Corporation	0.15%	29,714	$2M	added+78%	+0.09 pp	4 q
HPHelmerich & Payne, Inc.	0.14%	48,214	$2M	added+57%	+0.07 pp	4 q
MTDRMatador Resources Company	0.14%	28,286	$2M	added+56%	+0.08 pp	4 q
ARWArrow Electronics, Inc.	0.13%	11,670	$2M	added+55%	+0.06 pp	4 q
BMYBristol-Myers Squibb Co.	0.13%	26,158	$2M	added+55%	+0.06 pp	4 q
FIBKFirst Interstate BancSystem, Inc. (DE)	0.13%	49,370	$2M	added+55%	+0.04 pp	4 q
GIIIG-Iii Apparel Group Ltd	0.13%	60,453	$2M	added+56%	+0.04 pp	3 q
TSNTyson Foods, Inc.	0.13%	26,123	$2M	added+58%	+0.05 pp	4 q
SFNCSimmons First National Corp	0.12%	77,193	$2M	added+59%	+0.05 pp	4 q
UPSUnited Parcel Service, Inc. Class B	0.12%	15,515	$2M	added+58%	+0.04 pp	3 q
WUThe Western Union Company	0.12%	173,459	$2M	added+61%	+0.04 pp	3 q
ELVElevance Health, Inc.	0.11%	4,796	$1M	added+53%	+0.02 pp	3 q
ABGAsbury Automotive Group, Inc.	0.11%	7,253	$1M	new	+0.11 pp	new
CIThe Cigna Group	0.11%	5,375	$1M	new	+0.11 pp	new
CVSCvs Health Corporation	0.11%	19,132	$1M	added+58%	+0.03 pp	4 q
TAPMolson Coors Beverage Company Class B	0.11%	31,750	$1M	added+57%	+0.03 pp	2 q
VSNTVersant Media Group, Inc. Class A	0.11%	37,692	$1M	new	+0.11 pp	new
AAPAdvance Auto Parts Inc	0.10%	24,171	$1M	added+59%	+0.05 pp	4 q
ALLYAlly Financial Inc.	0.10%	33,512	$1M	new	+0.10 pp	new
DVNDevon Energy Corporation	0.10%	25,622	$1M	added+55%	+0.05 pp	4 q
HTLDHeartland Express Inc	0.10%	126,656	$1M	added+58%	+0.04 pp	5 q
LKQLKQ Corporation	0.10%	42,646	$1M	new	+0.10 pp	new
VZVerizon Communications	0.10%	23,972	$1M	held	—	21 q
LPGDorian Lpg Ltd	0.10%	35,480	$1M	added+57%	+0.06 pp	4 q
BSMBlack Stone Minerals, L.P.	0.09%	77,364	$1M	added+55%	+0.04 pp	4 q
CROXCrocs, Inc.	0.09%	14,015	$1M	added+55%	+0.03 pp	4 q
EMREmerson Electric Co.	0.09%	8,943	$1M	held	—	21 q
LWLamb Weston Holdings, Inc.	0.09%	25,960	$1M	added+57%	+0.03 pp	4 q
SIRISirius XM Holdings, Inc	0.09%	46,881	$1M	added+56%	+0.04 pp	4 q
BZHBeazer Homes USA, Inc. New	0.08%	50,523	$972,063	added+59%	+0.03 pp	4 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	0.08%	3,667	$992,254	added+49%	+0.01 pp	4 q
CMCSAComcast Corp	0.07%	31,496	$904,250	held	—	21 q
HLNHaleon plc	0.06%	72,750	$728,228	trimmed−5%	0.00 pp	15 q
KVUEKenvue Inc.	0.06%	40,906	$705,219	trimmed0%	0.00 pp	11 q
CNCCentene Corporation	0.05%	18,955	$620,587	added+57%	+0.01 pp	4 q
EMBCEmbecta Corp.	0.05%	75,356	$666,147	added+56%	0.00 pp	4 q
AMNAMN Healthcare Services	0.04%	27,963	$512,841	added+55%	+0.02 pp	3 q
BABAAlibaba Group Holding Limited	0.04%	4,060	$509,368	held	—	21 q
FMCFMC Corporation	0.04%	30,877	$531,702	added+53%	+0.02 pp	19 q
CNXCConcentrix Corporation	0.03%	13,623	$372,725	trimmed−3%	−0.02 pp	21 q
PSECProspect Capital Corporation	0.03%	162,953	$422,048	held	—	5 q
OECOrion S.A.	0.03%	61,120	$397,280	added+56%	+0.01 pp	4 q
BAXBaxter International Inc.	0.02%	9,739	$221,757	held	—	21 q
MICCThe Magnum Ice Cream Company N.V.	0.01%	12,047	$180,103	trimmed−3%	−0.01 pp	2 q
ATMUAtmus Filtration Technologies Inc.	—	−40,550	—	exited	−0.17 pp	—
GMGeneral Motors Company	—	−25,695	—	exited	−0.17 pp	—
ANAutoNation, Inc.	—	−6,044	—	exited	−0.10 pp	—
unresolvedCenovus Energy	—	−56,920	—	exited	−0.08 pp	—
CLFCleveland-Cliffs Inc.	—	−60,627	—	exited	−0.07 pp	—
OBDCBlue Owl Capital Corporation	—	−70,781	—	exited	−0.07 pp	—
ALBAlbemarle Corporation	—	−4,517	—	exited	−0.05 pp	—
HLFHerbalife Ltd.	—	−51,480	—	exited	−0.05 pp	—
CCSIConsensus Cloud Solutions, Inc.	—	−15,574	—	exited	−0.03 pp	—