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Insights from the Fourth Quarter 2025 N-PORT Filing

Tweedy Browne International Value (Trades, Portfolio) recently submitted its N-PORT filing for the fourth quarter of 2025, revealing strategic investment decisions made during this period. The Tweedy, Browne Global Value Fund, established on June 15, 1993, is managed by a team of seasoned investment professionals, including Roger R. de Bree, Frank H. Hawrylak, Jay Hill, Sean McDonald, Thomas H. Shrager, John D. Spears, and Robert Q. Wyckoff, Jr. The fund adheres to a "Ben Graham" value-oriented approach, focusing on securities trading below intrinsic value. Primarily investing in foreign equities, the fund also explores U.S. equities when attractive opportunities arise, with a focus on developed markets and some exposure to emerging markets. Currency risk is mitigated by hedging foreign currency exposure back into the U.S. dollar where feasible.

Warning! GuruFocus has detected 6 Warning Sign with IONS. Is IONS fairly valued? Test your thesis with our free DCF calculator.National Bank of Canada Sees Significant Reduction in Tweedy Browne International Value's Portfolio

Summary of New Buy

Tweedy Browne International Value (Trades, Portfolio) added a total of three stocks to its portfolio, including:

The most significant addition was Teleperformance SE (XPAR:TEP), with 306,000 shares, accounting for 0.56% of the portfolio and a total value of 22.22 million. The second largest addition was Sysmex Corp (TSE:6869), consisting of 802,165 shares, representing approximately 0.2% of the portfolio, with a total value of ?7,893,970. The third largest addition was Santec Holdings Corp (TSE:6777), with 5,545 shares, accounting for 0.01% of the portfolio and a total value of ?322,980.

Key Position Increases

Tweedy Browne International Value (Trades, Portfolio) also increased stakes in a total of six stocks, including:

The most notable increase was in Sodexo (XPAR:SW), with an additional 954,724 shares, bringing the total to 1,088,479 shares. This adjustment represents a significant 713.79% increase in share count, a 1.23% impact on the current portfolio, with a total value of 55.86 million. The second largest increase was in CNH Industrial NV (NYSE:CNH), with an additional 2,845,216 shares, bringing the total to 12,634,951. This adjustment represents a significant 29.06% increase in share count, with a total value of $116,494,250.

Summary of Sold Out

Tweedy Browne International Value (Trades, Portfolio) completely exited nine holdings in the fourth quarter of 2025, including:

DBS Group Holdings Ltd (SGX:D05): Sold all 1,083,249 shares, resulting in a -1.01% impact on the portfolio. Arkema SA (XPAR:AKE): Liquidated all 656,951 shares, causing a -0.98% impact on the portfolio.

Story Continues

Key Position Reduces

Tweedy Browne International Value (Trades, Portfolio) also reduced positions in 11 stocks. The most significant changes include:

Reduced National Bank of Canada (TSX:NA) by 699,765 shares, resulting in a -62.22% decrease in shares and a -1.74% impact on the portfolio. The stock traded at an average price of C$162.68 during the quarter and has returned 16.65% over the past three months and 0.74% year-to-date. Reduced Safran SA (XPAR:SAF) by 157,475 shares, resulting in a -33.26% reduction in shares and a -1.31% impact on the portfolio. The stock traded at an average price of 299.38 during the quarter and has returned 4.72% over the past three months and 6.69% year-to-date.

Portfolio Overview

At the end of the fourth quarter of 2025, Tweedy Browne International Value (Trades, Portfolio)'s portfolio included 82 stocks. The top holdings included 3.84% in Ionis Pharmaceuticals Inc (NASDAQ:IONS), 3.83% in Roche Holding AG (XSWX:ROG), 3.63% in Deutsche Post AG (XTER:DHL), 3.51% in Heineken Holding NV (XAMS:HEIO), and 3.2% in United Overseas Bank Ltd (SGX:U11).National Bank of Canada Sees Significant Reduction in Tweedy Browne International Value's Portfolio

The holdings are mainly concentrated in 10 of the 11 industries: Industrials, Healthcare, Consumer Defensive, Consumer Cyclical, Basic Materials, Financial Services, Technology, Energy, Communication Services, and Real Estate.

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