Tweedy, Browne Investment Strategies and Performance

Tweedy, Browne is a value investing firm that has been around since 1975, making it a seasoned player in the investment world. The firm was founded by Thomas W. Browne and John H. Dalton.

Their investment strategy is built around the idea of value investing, which involves identifying undervalued companies and holding onto them for the long term. This approach has led to impressive returns for their clients over the years.

One of the key components of Tweedy, Browne's strategy is their focus on the quality of a company's earnings. They look for companies with a strong track record of profitability and a clear competitive advantage.

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Tweedy, Browne's investing philosophy is rooted in the principles of Value Investing, popularized by Benjamin Graham. This approach involves identifying undervalued companies with strong fundamentals.

The firm uses a proprietary multi-factor value model to inform its investment decisions. This model is based on empirical research and the experience of its investment committee. Tweedy, Browne targets investments in US and non-US companies that are undervalued and have knowledgeable insiders actively purchasing their equity securities.

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The five key characteristics the firm looks for in a potential investment are:

These traits don't guarantee success, but the firm cites academic research to suggest they may increase the odds of investing success when consistently applied over time.

Tweedy, Browne Company LLC is a leading practitioner of the value-oriented investment approach of legendary investor Benjamin Graham.

The firm's 100-year history is grounded in undervalued securities.

Tweedy, Browne's investment philosophy is rooted in value investing, a strategy that focuses on finding undervalued companies with strong fundamentals. This approach is inspired by Benjamin Graham, a pioneer in value investing.

The firm's funds are managed according to a set of five characteristics that help identify potential investments: low price-to-book value, low price-to-earnings ratio, insider buying, significant drop in stock price, and small market capitalization.

Tweedy, Browne's investment process is driven by fundamental, bottom-up research on individual companies, seeking to appraise their intrinsic value by determining their acquisition value or estimating the collateral value of their assets and/or cash flow.

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The firm's investment universe consists of companies in the US, Europe, the UK, and Asia, among other countries and regions, and may include emerging markets.

Here are some key investment strategies used by Tweedy, Browne:

The Tweedy, Browne International Value Fund is a great option for those looking to invest in international markets. This fund has a long-term track record of delivering strong returns.

The fund's investment process is driven by fundamental, bottom-up research on individual companies, seeking to appraise the worth of a company by determining its acquisition value or estimating the collateral value of its assets and/or cash flow. This approach has led to some impressive results.

One of the fund's standout features is its ability to find value in international markets. As Jay Hill notes, "stocks outside the United States are significantly cheaper" and the fund's team is skilled at uncovering fundamentally sound companies trading at sensible prices.

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The fund's investment approach is rooted in value investing principles, which have been successful in the past. However, as Thomas Shrager points out, "the price you pay for stocks is crucial for long-term performance" and the fund's team is careful to avoid overpaying for stocks.

Here are some key statistics about the Tweedy, Browne International Value Fund:

The fund's team is led by experienced investors who have a deep understanding of international markets. Their research and analysis are thorough and well-researched, which has helped the fund achieve its investment objectives.

Allocation Details can be a bit overwhelming, but let's break it down. Sector Allocation shows that Industrials take up 23.84% of the fund, while Health Care accounts for 14.93%.

The Investment Allocation is primarily made up of Stocks, which take up 96.23% of the fund. This is a significant portion of the overall investment.

Country Allocation reveals that the United Kingdom holds the largest share at 14.53%, followed closely by Switzerland at 14.34%. These two countries combined make up nearly 30% of the fund.

Breaking down the Region, we see that Developed countries account for 85.36% of the fund, with Europe & Middle East making up 60.22% of that total. This is a significant concentration of investments in developed markets.

Looking at the Industry breakdown, we see that Beverages take up 9.25% of the fund, while Banks account for 8.33%. These two industries combined make up nearly 20% of the fund.

Here's a summary of the top 5 sectors by allocation:

The expense ratios of a fund can be a bit confusing, but essentially, they tell you how much it costs to own the fund. The gross expense ratio is 1.41%, which is the total cost of running the fund.

The net expense ratio is also 1.41%, which is the cost after the fund's investment manager has agreed to limit the operating expenses. This limitation is in place until May 1, 2025.

There's no up-front sales charge or deferred sales charge, which is a plus. If you want to know more about the fund's expenses, you should check the prospectus.

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Tweedy, Browne has a long history of delivering strong investment performance. The firm's value investing approach has allowed it to achieve impressive returns over the years.

One notable example is the firm's flagship Global Value Fund, which has consistently outperformed its benchmark since its inception in 1977. The fund's 20-year annualized return of 12.4% is a testament to its ability to identify undervalued companies and hold them for the long term.

Tweedy, Browne's focus on quality companies with strong financials and competitive advantages has also contributed to its success. The firm's research process is rigorous, with a team of experienced analysts who thoroughly evaluate each potential investment.

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The firm's investment strategy is rooted in the principles of Value Investing, a philosophy popularized by Benjamin Graham that Tweedy Browne became familiar with in the early 1930s.

They identify stocks for possible investment using five key characteristics, which include a low price to book value and a low price to earnings ratio.

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Tweedy Browne also looks for significant stock purchases by executive officers, particularly when the stock price drops, indicating insiders have confidence in the company's long-term prospects.

A significant drop in stock price is another trait they look for, as it may indicate a buying opportunity.

They also consider small market capitalization when evaluating stocks for investment.

By consistently applying these characteristics over time, Tweedy Browne cites academic research from around the world to indicate that these traits may increase the odds of investing success.

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The Tweedy Browne value model is informed by empirical research and the extensive experience of their Investment Committee, which helps to identify undervalued companies with insider buying activity.

Low price to book value and low price to earnings ratio are key characteristics the firm uses to identify stocks for possible investment, as outlined in their 1992 paper.

These traits don't guarantee a positive outcome, but they may increase the odds of investing success when consistently applied over time, according to the firm's academic research from around the world.

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The firm's investment process is largely quantitative and decision rule-based, which allows for the identification of companies across a broad cross-section of market capitalizations and geographies.

The investment universe includes companies in the US, Europe, the UK, Asia, and emerging markets, providing a diverse range of potential investments.

The firm's proprietary systematic sell discipline allows for the continuous refreshment of the fund as new ideas present themselves, helping to manage risk and maximize returns.

Here are the five characteristics the firm uses to identify stocks for possible investment:

Low price to book valueLow price to earnings ratioSignificant stock purchases by executive officersSignificant drop in stock priceSmall market capitalization

By consistently applying these characteristics, the firm may be able to increase the odds of investing success over time, as supported by their academic research.

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The Tweedy, Browne Insider + Value ETF is an actively managed Exchange Traded Fund (ETF) that utilizes a proprietary multi-factor value model.

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The investment objective of this ETF is long-term capital growth.

The investment process is largely quantitative and decision rule-based, allowing the fund to identify companies across a broad cross-section of market capitalizations and geographies.

The fund's investment universe consists of companies in the US, Europe, the UK, and Asia, among other countries and regions, and may include emerging markets.

The fund's Adviser utilizes a proprietary systematic sell discipline that allows for the continuous refreshment of the fund as new ideas present themselves.

Here's a breakdown of the fund's sector allocation:

The fund's investment allocation is primarily in stocks, with 96.23% of the portfolio invested in this asset class.

Frank H. Hawrylak, CFA, has been with Tweedy, Browne since 1986.

He's a member of the firm's Investment Committee, and in 2011, he became an equity stakeholder in the firm.

Frank received a BS from the University of Arizona and an MBA from the University of Edinburgh, Scotland.

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Our top executives have impressive backgrounds and experience. Frank H. Hawrylak, CFA, has been with Tweedy, Browne since 1986.

Frank H. Hawrylak, CFA, is a member of the firm's Investment Committee and became an equity stakeholder in 2011. He received a BS from the University of Arizona and an MBA from the University of Edinburgh, Scotland.

Robert Q. Wyckoff, Jr. has been with Tweedy, Browne since 1991 and is a member of the firm's Investment and Management Committees. He also serves as Chairman and Vice President of Tweedy, Browne Fund Inc.

Robert Q. Wyckoff, Jr. has a strong educational background with a B.A. from Washington & Lee University and a J.D. from the University of Florida School of Law. He has also held positions with notable investment firms, including Bessemer Trust and J&W Seligman.

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The investment team at Tweedy, Browne has a significant personal stake in the success of the Insider + Value ETF. As of June 30, 2025, the current Managing Directors, retired principals and their families, and employees had more than $1.7 billion invested in personal and Tweedy, Browne managed value-oriented portfolios.

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This commitment to the fund's success is impressive, and it speaks to the team's confidence in their investment strategy. The initial funding for the Insider + Value ETF will come largely from Tweedy, Browne principals, who plan to contribute over $10 million.

The team's investment in the fund is not just a financial commitment, but also a vote of confidence in their own abilities. It's a great way to align their personal interests with the success of the fund.

The Tweedy, Browne International Value Fund is a fund that offers a range of services for investors. You can reach the advisors at 800.368.4410 or the investors at 800.432.4789.

The fund has a strong track record, with risk-adjusted returns as of 09/30/2025 available to view. Overall, the fund has an rating of (of 343) out of a possible 343.

Here are the fund's performance ratings over different time periods:

The fund's investment process is driven by fundamental research on individual companies. The investment team seeks to appraise the worth of a company by determining its acquisition value or estimating the collateral value of its assets and/or cash flow.

Tweedy, Browne's investment philosophy is rooted in value investing, a strategy that emphasizes buying undervalued companies with strong fundamentals. They focus on companies with low price-to-book value and price-to-earnings ratio.

Benjamin Graham's principles guide their approach, which they've refined over the years. They've identified five key characteristics to look for in potential investments: low price-to-book value, low price-to-earnings ratio, insider buying, significant stock price drops, and small market capitalization.

These traits don't guarantee success, but academic research suggests they increase the odds of investing success when consistently applied over time. Tweedy, Browne cites research from around the world to support their approach.

The current U.S. market is obsessed with AI hype and nosebleed valuations, but Tweedy Browne's Thomas Shrager and Jay Hill keep their feet firmly planted in value investing's time-tested principles. They focus on uncovering fundamentally sound companies trading at sensible prices.

Their strategy involves cutting through the noise and finding bargains in international markets, particularly in the UK. The UK stock market is valued at an average price-to-earnings ratio of 13, while the U.S. P/E ratio is almost 24.

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Tweedy Browne's standout pick is Johnson Service Group, a UK-based industrial laundry company trading at just 12 times earnings. The company's strong market position and insider buying make it compelling.

They also see opportunities in Asia, such as Hana Financial Group in Korea, which they bought at a price level corresponding to about 20% of book value. Today, the stock is trading at about 50% of book value, with a dividend yield of 7% and a P/E ratio of about 7.

Berkshire Hathaway is another example of a company that's had a great run, but is now fairly valued in their opinion. They're reducing their position somewhat, but won't exit.