Tweedy Browne Co. - Tweedy Browne Value Fund Portfolio Q3'2025: Top Holdings & Recent Changes
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Tweedy Browne Co. - Tweedy Browne Value Fund exemplifies timeless value investing principles in their latest $1.15B portfolio, showcasing disciplined portfolio management with a focus on high-quality, undervalued names. Their Q3 2025 13F filing reveals measured adjustments, including a modest addition to healthcare leader IONS while trimming positions across tech, financials, and staples amid market rotations.
Portfolio Overview: Concentrated Value with Proven Longevity
Portfolio Highlights (Q3 2025): - Market Value: $1,151.4M - Top 10 Holdings: 71.7% - Portfolio Size: 97 +6 - Average Holding Period: 17 quarters - Turnover: 14.4%
The Tweedy Browne Value Fund's portfolio maintains its hallmark concentration, with the top 10 holdings commanding 71.7% of the $1.15 billion total, underscoring a high-conviction approach to value investing. This structure reflects the firm's long-standing philosophy of owning a limited number of deeply researched positions in businesses trading below intrinsic value, even as the overall portfolio expanded to 97 holdings with six new additions.
Low turnover at 14.4% and an impressive average holding period of 17 quarters (over four years) signal patience and conviction, hallmarks of Tweedy Browne's strategy since its Graham-and-Dodd roots. The recent net increase in positions suggests opportunistic deployment into smaller names, balancing the core concentrated bets. Investors tracking this via the superinvestor page can see how this diversification tempers risk without diluting focus on top ideas.
This setup positions the fund well for volatile markets, prioritizing durable moats over short-term momentum while the +6 positions hint at emerging undervaluation opportunities unearthed through rigorous analysis.
Top Holdings: Healthcare Strength Meets Broad-Based Reductions
Leading the pack is Ionis Pharmaceuticals, Inc. (IONS) at 16.5% of the portfolio $189.8M, where managers added 0.32% in a vote of confidence for the biotech's pipeline potential. CNH INDUSTRIAL NV follows at 12.5% $144.1M after a minor 0.23% reduction, maintaining exposure to industrials amid cyclical recovery plays.
Berkshire Hathaway Inc. (BRK-A) holds 9.4% $108.6M but saw a notable 5.88% trim, paired with a 2.35% cut to BRK-B at 4.3% $49.8M, signaling profit-taking in the conglomerate amid valuation concerns. Coca-Cola FEMSA, S.A.B. de C.V. (KOF) at 8.7% $100.2M was reduced by 0.95%, preserving Latin American consumer staples exposure.
Tech giant Alphabet Inc. (GOOGL) faced the sharpest cut at 27.18% down to 4.9% $56.9M, possibly reflecting caution on Big Tech multiples. Autoliv, Inc. (ALV) (4.6%, $53.4M) saw a tiny 0.13% trim, while WELLS FARGO & CO (WFC) dropped 2.87% to 4.2% $48.7M and Johnson & Johnson (JNJ) shed 1.11% to 3.9% $44.9M. Beyond the top 10, Envista Holdings Corp (NVST) at 2.6% $29.6M was reduced by 0.55%, rounding out active tweaks across healthcare, autos, banks, and pharma.
These moves blend selective adds in high-conviction biotech with prudent reductions in legacy winners, maintaining diversification across 97 names while prioritizing value gaps.
What the Portfolio Reveals
Tweedy Browne's Q3 actions highlight a classic value tilt toward quality at discounts, favoring healthcare innovators like IONS over frothy tech, with broad reductions signaling discipline against overvaluation.
- Sector Focus: Heavy healthcare (IONS leading) and industrials (CNH), tempered by staples (KOF, JNJ) and financials (BRK, WFC)—avoiding pure growth traps.
- Risk Management: Trims in mega-caps like GOOGL (27% cut) and BRK show active rebalancing, with low 14.4% turnover preserving long-term holds averaging 17 quarters.
- Geographic Spread: International flavor via KOF (Mexico) and CNH (global ag/industrial), hedging U.S.-centric risks.
- Quality Emphasis: Positions in dividend stalwarts like JNJ and moat-heavy BRK underscore preference for resilient cash generators over speculative bets.
This reveals a strategy betting on undervalued moats in uncertain times, with portfolio growth to 97 positions indicating hunt for smaller opportunities.
Portfolio Concentration Analysis
| Position | Value | % of Portfolio | Recent Change |
|---|---|---|---|
| Ionis Pharmaceuticals, Inc. | $189.8M | 16.5% | Add 0.32% |
| CNH INDUSTRIAL NV | $144.1M | 12.5% | Reduce 0.23% |
| Berkshire Hathaway Inc. (BRK-A) | $108.6M | 9.4% | Reduce 5.88% |
| Coca-Cola FEMSA, S.A.B. de C.V. | $100.2M | 8.7% | Reduce 0.95% |
| Alphabet Inc. | $56.9M | 4.9% | Reduce 27.18% |
| Autoliv, Inc. | $53.4M | 4.6% | Reduce 0.13% |
| Berkshire Hathaway Inc. (BRK-B) | $49.8M | 4.3% | Reduce 2.35% |
| WELLS FARGO & CO | $48.7M | 4.2% | Reduce 2.87% |
| Johnson & Johnson | $44.9M | 3.9% | Reduce 1.11% |
The table underscores extreme concentration, with just nine positions capturing 71.7% of assets—IONS alone at 16.5% anchoring healthcare conviction amid broad trims elsewhere. Significant reductions in GOOGL -27.18% and BRK-A -5.88% freed capital, likely for the six new holdings, exemplifying value managers' willingness to exit even winners when valuations stretch.
This structure amplifies returns from top ideas while the 97-position base provides ballast, with low turnover affirming "buy and hold forever" for true bargains.
Investment Lessons from Tweedy Browne's Value Discipline
- Patience Pays: 17-Quarter Average Hold: Demonstrates conviction in intrinsic value over market noise—stick with quality when margins of safety exist.
- Trim Winners Ruthlessly: Even icons like Alphabet and Berkshire see cuts (27% and 5.88%), teaching position sizing demands constant valuation checks.
- Concentrate on Understandable Moats: 71.7% in top 10 reflects deep research into healthcare (IONS add) and industrials, avoiding complexity.
- Diversify Thoughtfully: 97 positions (+6 new) balance core bets, showing broad screening uncovers hidden value.
- Low Turnover Builds Wealth: 14.4% rate minimizes taxes and trading costs, prioritizing long-term compounding.
Looking Ahead: What Comes Next?
With turnover at 14.4% and six new positions added, Tweedy Browne appears poised for further opportunistic buys in undervalued sectors like healthcare and industrials, especially if market pullbacks create entry points. The trims in high-flyers like GOOGL suggest cash generation for deployment, potentially targeting international staples or financials amid economic uncertainty.
Current positioning—led by IONS and CNH—sets up for resilience in volatile 2026 markets, with BRK and JNJ providing stability. Watch for 13F updates on ValueSense to track if value rotations accelerate.
FAQ about Tweedy Browne Value Fund Portfolio
Q: What drove the major reductions like Alphabet's 27.18% cut?
Tweedy Browne trimmed GOOGL sharply alongside BRK and others, likely taking profits as valuations exceeded intrinsic value thresholds, freeing capital for higher-conviction adds like IONS.
Q: Why such high concentration in the top 10 at 71.7%?
This reflects classic value strategy: outsized bets on deeply vetted moats (e.g., IONS at 16.5%), where managers' edge justifies risk, balanced by 97 total positions for diversification.
Q: What sectors dominate Tweedy Browne's approach?
Healthcare (IONS), industrials (CNH), financials (BRK, WFC), and staples (KOF, JNJ) lead, emphasizing global quality at discounts over U.S. growth.
Q: How can I track Tweedy Browne's portfolio changes?
Follow quarterly 13F filings on the SEC (45-day lag post-quarter-end) or use ValueSense's superinvestor tracker at https://valuesense.io/superinvestors/tweedy-browne for real-time analysis, visualizations, and historical trends.
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