Q1 2025 Commentary

May 1, 2025

FINRA BrokerCheck
Form CRS
Form ADV Part 2
Important Policies & Information
Prospectus
1-800-432-4789
LinkedIn

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The information on this website is intended only for US residents and is provided for informational purposes only. Tweedy, Browne International Value Fund, Tweedy, Browne International Value Fund II — Currency Unhedged, Tweedy, Browne Value Fund and Tweedy, Browne Worldwide High Dividend Yield Value Fund are registered only in the United States, and no portion of the content of this website constitutes an offer to sell or a solicitation of an offer to buy the Funds in any jurisdiction where the offer or sale would be deemed unlawful under the securities laws of that jurisdiction or where the offer or sale is not permitted.

All investing involves the risk of loss, including the loss of principal. Current and future portfolio holdings are subject to risk. Investing in foreign securities involves additional risks beyond the risks of investing in securities of US markets. These risks, which are more pronounced in emerging markets, include economic and political considerations not typically found in US markets, including currency fluctuations, political uncertainty and different accounting and financial standards, regulatory environments, and overall market and economic factors. The securities of small, less well-known companies may be more volatile than those of larger companies. Force majeure events such as pandemics and natural disasters are likely to increase the risks inherent in investments and could have a broad negative impact on the world economy and business activity in general. Value investing involves the risk that the market will not recognize a security’s intrinsic value for a long time or that a security thought to be undervalued may, in fact, be appropriately priced when purchased. Dividends are not guaranteed, and a company currently paying dividends may cease paying dividends at any time. Diversification does not guarantee a profit or protect against a loss in declining markets. Investors should refer to the prospectus for a description of risk factors associated with investments in securities held by the Funds.

Although the practice of hedging perceived foreign currency exposure, where practicable, utilized by the International Value Fund and Value Fund reduces the risk of loss from exchange rate movements, it also reduces the ability of the Funds to gain from favorable exchange rate movements when the US dollar declines against the currencies in which the Funds’ investments are denominated and may impose costs on the Funds. As a result of practical considerations, fluctuations in a security’s prices, and fluctuations in currencies, a Fund’s hedges are expected to approximate, but will generally not equal, the Fund’s perceived foreign currency risk.

Stocks and bonds are subject to different risks. In general, stocks are subject to greater price fluctuations and volatility than bonds and can decline significantly in value in response to adverse issuer, political, regulatory, market or economic developments. Unlike stocks, if held to maturity, bonds generally offer to pay both a fixed rate of return and a fixed principal value. Bonds are subject to interest rate risk (as interest rates rise bond prices generally fall), the risk of issuer default, issuer credit risk, and inflation risk.

Investors should consider a Fund’s investment objectives, risks, charges and expenses carefully before investing. The prospectus contains this and other information about the Funds. To access the Funds’ prospectus click here. Please read the prospectus carefully before investing.

Investment decisions should be made based on an investor’s objectives and circumstances and in consultation with his or her financial, legal and tax advisors.

Tweedy, Browne International Value Fund, Tweedy, Browne International Value Fund II — Currency Unhedged, Tweedy, Browne Value Fund and Tweedy, Browne Worldwide High Dividend Yield Value Fund are distributed by AMG Distributors, Inc., Member FINRA/SIPC. Certain employees of Tweedy, Browne are registered representatives of AMGDI.

From their inception through July 28, 2021, the Tweedy, Browne International Value Fund and Tweedy, Browne International Value Fund II – Currency Unhedged were known as the Tweedy, Browne Global Value Fund and Tweedy, Browne Global Value Fund II – Currency Unhedged, respectively. In addition, for the period October 1, 1994 through November 29, 2006, the Tweedy, Browne Value Fund was known as the Tweedy, Browne American Value Fund. This website contains historic content with respect to these Funds that was created prior to their name changes, referencing the Funds as the Tweedy, Browne Global Value Fund, Tweedy, Browne Global Value Fund II – Currency Unhedged, and Tweedy, Browne American Value Fund, respectively. Because this material is still thought to be relevant, it is being maintained on the website in its original form. All references to the Tweedy, Browne Global Value Fund in these documents should be deemed to refer to the Tweedy, Browne International Value Fund; all references to the Tweedy, Browne Global Value Fund II – Currency Unhedged in these documents should be deemed to refer to the Tweedy, Browne International Value Fund II – Currency Unhedged; and all references to the Tweedy, Browne American Value Fund in these documents should be deemed to refer to the Tweedy, Browne Value Fund.

Tweedy, Browne Company LLC’s 100-year history is grounded in undervalued securities, first as a market maker, then as an investor and investment adviser. The firm registered as an investment adviser with the SEC in 1975 and ceased operations as a broker-dealer in 2014.

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