Tweedy Browne Co. - Tweedy Browne Value Fund Portfolio Q2'2025: Top Holdings & Recent Changes
Welcome to the Value Sense Blog, your resource for insights on the stock market! At Value Sense, we focus on intrinsic value tools and offer stock ideas with undervalued companies. Dive into our research products and learn more about our unique approach at valuesense.io
Explore diverse stock ideas covering technology, healthcare, and commodities sectors. Our insights are crafted to help investors spot opportunities in undervalued growth stocks, enhancing potential returns. Visit us to see evaluations and in-depth market research.
Tweedy Browne Co. continues its legacy as a disciplined value investor, navigating the complexities of the modern market with a strategy rooted in patience and fundamental analysis. The firm’s Q2’2025 portfolio showcases a blend of global blue chips and niche value plays, with notable adjustments reflecting both conviction and risk management across its $1.08B portfolio.
Portfolio Overview: Value Discipline Meets Global Diversification
Portfolio Highlights (Q2’2025): - Market Value: $1,078.4M - Top 10 Holdings: 72.7% - Portfolio Size: 91 +32 - Average Holding Period: 18 quarters - Turnover: 37.4%
The Tweedy Browne Value Fund portfolio remains highly concentrated, with nearly three-quarters of assets in its top ten holdings—a hallmark of conviction-driven investing. Despite a significant increase in the number of positions (now 91, up by 32), the fund’s core remains focused, suggesting that new additions are likely smaller, opportunistic bets rather than a shift away from its traditional concentrated style.
With an average holding period of 18 quarters, Tweedy Browne demonstrates a commitment to long-term ownership, allowing value theses to play out. The 37.4% turnover this quarter, however, signals active rebalancing—likely a response to shifting valuations and evolving risk profiles in both domestic and international markets.
Top Holdings Analysis: Defensive Blue Chips and Tactical Adjustments
The portfolio’s backbone is built on established global franchises and select healthcare innovators. CNH Industrial NV anchors the fund at 16.0% of assets, though the position was trimmed slightly (Reduce 0.18%), reflecting disciplined profit-taking. Coca Cola FEMSA 10.9% also saw a moderate reduction (Reduce 5.24%), while Ionis Pharmaceuticals Inc. 10.6% was pared back by 3.07%, balancing exposure in a volatile sector.
A notable move was the reduction in Berkshire Hathaway Inc. (10.3%, Reduce 8.38%), offset by a significant addition to Berkshire Hathaway Inc. Del Cl B (4.6%, Add 12.81%), indicating a nuanced approach to Berkshire’s share classes. Alphabet Inc-CL A 5.3% was sharply reduced by 52.25%, signaling a decisive shift away from big tech, while Autoliv Inc. 4.5% and Wells Fargo & Co 4.4% were both trimmed modestly.
Healthcare exposure was further reduced with a 44.16% cut in Johnson & Johnson 3.5%, and Envista Holdings Corp 2.6% was also pared back (Reduce 2.43%). These moves suggest a cautious stance toward sectors facing regulatory or macroeconomic headwinds.
Rounding out the top positions are a mix of industrials, consumer, and financial names, each reflecting Tweedy Browne’s preference for resilient, cash-generative businesses with global reach.
What the Portfolio Reveals About Current Strategy
- Quality and Value Focus: The fund continues to emphasize established, cash-rich companies, favoring those with strong balance sheets and global operations.
- Active Risk Management: Significant reductions in tech and healthcare holdings point to a proactive approach in managing sector-specific risks and valuation concerns.
- Global Diversification: The portfolio’s composition reflects a willingness to seek value beyond U.S. borders, with meaningful allocations to international blue chips.
- Opportunistic Adjustments: The increased number of positions and selective adds/reductions indicate a flexible, opportunity-driven mindset within a disciplined value framework.
Portfolio Concentration Analysis
| Position | Value | % of Portfolio | Recent Change |
|---|---|---|---|
| CNH INDUSTRIAL NV | $172.5M | 16.0% | Reduce 0.18% |
| COCA COLA FEMSA | $117.8M | 10.9% | Reduce 5.24% |
| IONIS PHARMACEUTICALS INC. | $114.3M | 10.6% | Reduce 3.07% |
| BERKSHIRE HATHAWAY INC | $111.5M | 10.3% | Reduce 8.38% |
| ALPHABET INC-CL A | $56.6M | 5.3% | Reduce 52.25% |
| BERKSHIRE HATHAWAY INC DEL CL B | $49.3M | 4.6% | Add 12.81% |
| AUTOLIV INC. | $48.5M | 4.5% | Reduce 0.11% |
| WELLS FARGO & CO | $48.0M | 4.4% | Reduce 7.06% |
| JOHNSON & JOHNSON | $37.4M | 3.5% | Reduce 44.16% |
The table underscores Tweedy Browne’s conviction in its largest holdings, with the top four positions alone accounting for nearly half of the portfolio. While the fund is not afraid to make meaningful trims or adds, it maintains a core set of high-conviction bets, balancing concentration with prudent risk management.
Investment Lessons from Tweedy Browne’s Value Discipline
- Concentration Reflects Conviction: The willingness to allocate double-digit percentages to top ideas demonstrates deep research and confidence in underlying business fundamentals.
- Long-Term Patience: An 18-quarter average holding period highlights the importance of allowing value to be realized over time, resisting the urge for short-term trading.
- Disciplined Rebalancing: Regular portfolio adjustments—both trims and adds—showcase a commitment to valuation discipline and risk control, even among favorite holdings.
- Global Value Hunting: The fund’s international exposure reminds investors that value opportunities are not confined to any single market.
- Adaptability: The increased number of positions and selective sector reductions reveal a flexible approach, adapting to changing market conditions while staying true to core principles.
Looking Ahead: What Comes Next?
With a substantial portion of assets still concentrated in core holdings, Tweedy Browne retains dry powder for future opportunities. The uptick in portfolio turnover and new positions suggests the team is actively scanning for undervalued stocks amid global market volatility. Investors should watch for further shifts in sector allocation, especially as macroeconomic and regulatory landscapes evolve. The fund’s disciplined approach and global reach position it well to capitalize on dislocations and emerging value plays in the quarters ahead.
FAQ about Tweedy Browne Value Fund Portfolio
Q: What were the most significant changes in Tweedy Browne’s Q2 2025 portfolio?
The most notable moves included a sharp reduction in Alphabet Inc-CL A (Reduce 52.25%), a substantial trim in Johnson & Johnson (Reduce 44.16%), and a meaningful addition to Berkshire Hathaway Inc Del Cl B (Add 12.81%). These changes reflect active risk management and evolving sector views.
Q: How concentrated is the Tweedy Browne Value Fund portfolio?
The top ten holdings account for 72.7% of total assets, underscoring a high-conviction, focused approach. Despite an increase in total positions, the fund’s core remains tightly concentrated.
Q: How does Tweedy Browne manage risk in such a concentrated portfolio?
Risk is managed through deep fundamental research, regular rebalancing, and a willingness to trim or add to positions as valuations and market conditions change. The fund’s long-term holding periods also allow for volatility to be smoothed over time.
Q: Which sectors or stocks are Tweedy Browne currently favoring or reducing?
The fund remains committed to industrials, consumer staples, and select healthcare names, while reducing exposure to big tech and certain healthcare positions. This reflects a cautious stance toward sectors with elevated valuations or regulatory risks.
Q: How can investors track Tweedy Browne’s portfolio changes?
Investors can follow Tweedy Browne’s quarterly 13F filings, but should note the 45-day reporting lag. For real-time analysis, use ValueSense’s superinvestor tracker to monitor portfolio updates, stock-level insights, and historical trends.
Explore More Investment Opportunities
For investors seeking undervalued companies with high fundamental quality, our analytics team provides curated stock lists:
📌 50 Undervalued Stocks (Best overall value plays for 2025)
📌 50 Undervalued Dividend Stocks (For income-focused investors)
📌 50 Undervalued Growth Stocks (High-growth potential with strong fundamentals)
🔍 Check out these stocks on the Value Sense platform for free!