# EDGAR Filing Document

**Accession Number:** 0000896975
**File Stem:** 0001193125-26-241142
**Filing Date:** 2026-5
**Character Count:** 202449
**Document Hash:** 7f43b3d18985d0b51b3d38133ea6bda7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-241142.hdr.sgml**: 20260527

**ACCESSION NUMBER**: 0001193125-26-241142

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 32

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260527

**DATE AS OF CHANGE**: 20260527

**EFFECTIVENESS DATE**: 20260527

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TWEEDY, BROWNE FUND INC.
- **CENTRAL INDEX KEY:** 0000896975

**ORGANIZATION NAME:**
- **EIN:** 133700410
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07458
- **FILM NUMBER:** 261024767

**BUSINESS ADDRESS:**
- **STREET 1:** ONE STATION PLACE
- **CITY:** STAMFORD
- **STATE:** CT
- **ZIP:** 06902
- **BUSINESS PHONE:** 203-703-0600

**MAIL ADDRESS:**
- **STREET 1:** ONE STATION PLACE
- **CITY:** STAMFORD
- **STATE:** CT
- **ZIP:** 06902

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TWEEDY BROWNE FUND INC
- **DATE OF NAME CHANGE:** 19930714

## Series and Classes Contracts Data

### TWEEDY, BROWNE VALUE FUND (Series ID: S000001301)

| Class ID   | Class Name                | Ticker Symbol   |
|:---|:---|:---|
| C000003511 | TWEEDY, BROWNE VALUE FUND | TWEBX           |

### TWEEDY, BROWNE INTERNATIONAL VALUE FUND (Series ID: S000001302)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000003512 | TWEEDY, BROWNE INTERNATIONAL VALUE FUND | TBGVX           |

### TWEEDY, BROWNE . BUYBACKS . DIVIDENDS + VALUE FUND (Series ID: S000018426)

| Class ID   | Class Name                                         | Ticker Symbol   |
|:---|:---|:---|
| C000050916 | TWEEDY, BROWNE . BUYBACKS . DIVIDENDS + VALUE FUND | TBHDX           |

### TWEEDY, BROWNE INTERNATIONAL VALUE FUND II - CURRENCY UNHEDGED (Series ID: S000026835)

| Class ID   | Class Name                                                     | Ticker Symbol   |
|:---|:---|:---|
| C000080766 | TWEEDY, BROWNE INTERNATIONAL VALUE FUND II - CURRENCY UNHEDGED | TBCUX           |

?xml version='1.0' encoding='ASCII'? TWEEDY, BROWNE FUND INC.

#### UNITED STATES

#### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

------

#### FORM N-CSR

------

#### CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

#### Investment Company Act file number

#### 811-07458

#### Tweedy, Browne Fund Inc.
(Exact name of registrant as specified in charter)

------

One Station Place, Suite 303

Stamford, CT 06902

(Address of principal executive offices) (Zip code)

Frederick C. Teufel, Jr.

Tweedy, Browne Company LLC

One Station Place, Suite 303

Stamford, CT 06902

(Name and address of agent for service)

#### Registrant's telephone number, including area code:

#### 203-703-0600

#### Date of fiscal year end:

#### March 31

#### Date of reporting period:

#### March 31, 2026

#### Item 1. Report to Stockholders
(a) The registrant's annual report transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940 is as follows:

INTERNATIONAL VALUE FUND

(TBGVX)

![TSR - Logo](g142965images_30974.jpg)

ANNUAL SHAREHOLDER REPORT \| March 31, 2026

This annual shareholder report contains important information about the Tweedy, Browne International Value Fund ("Fund") for the period of April 1, 2025 to March 31, 2026 as well as certain changes to the Fund. You can find additional information about the Fund at www.tweedyfunds.com/mutual-funds/international-value-fund-overview/. You can also request this information by contacting us at

1-800-432-4789.

#### What Were the Fund Expenses for the Last Year?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Fund (Class) | **COSTS OF A $10,000 INVESTMENT** | **COSTS PAID AS A PERCENTAGE**<br>**OF A $10,000 INVESTMENT** |
| INTERNATIONAL VALUE FUND (TBGVX) | $158 | 1.44% |

---

MANAGEMENTS' DISCUSSION OF FUND PERFORMANCE

#### Market Overview
The seemingly indefatigable advance in global equity markets over much of the last year faced macroeconomic headwinds near fiscal year end March 31st, as heightened geopolitical tensions, including military conflict involving Iran and the resulting disruption to global oil supply, contributed to increased volatility and a general sense of unease among investors.

The resulting war-related spike in oil prices in March helped to dampen the very recent outperformance of non-US equities relative to their US counterparts. Nevertheless, non-US equity markets, as measured by the MSCI EAFE Index (in USD), still outperformed US equities, as represented by the S&P 500, for the fiscal year ending March 31. The MSCI EAFE recorded a return of 21.27%, while the S&P 500 returned 17.70%.

As we write in mid-April, a cease-fire in the Iranian conflict has helped to spark a rebound in global equity indices, led by an unusually robust rally in US-based high technology companies. It remains to be seen whether market sentiment will revert to the AI-related market concerns that had emerged prior to the outbreak of hostilities.

Against this uncertain backdrop, the Tweedy, Browne International Value Fund (the "Fund") produced a return of 19.25% for the twelve months ended March 31, 2026, compared to 21.27% for its benchmark, the MSCI EAFE Index in US dollars.

#### What Impacted Performance During the Period?
On an absolute return basis, health care, financials, information technology, and materials contributed most to performance over the last fiscal year, supported by strong results in biotechnology, chemicals, technology hardware holdings, banking, and pharmaceuticals. Industrials also added meaningfully, driven by aerospace and defense. Energy, consumer discretionary, and utilities contributed modestly as well. Consumer staples detracted materially from performance, weighed down by beverages and food products holdings.

At the country level, South Korea, the United States, Japan, Italy, and Canada were among the largest contributors to performance. Germany, Britain, Mexico, and France also added to returns. Belgium, the Netherlands, and China were the most significant country-level detractors, while Finland contributed modestly negatively.

Across market capitalization groups, large- to mid-cap and mid-cap holdings drove the bulk of the Fund's return, with mega-cap holdings also contributing meaningfully.

The Fund's policy of hedging its foreign currency exposure modestly reduced returns during the period, as the euro, Swiss franc, and pound sterling, which together represent the Fund's three largest currency exposures, all appreciated against the US dollar.

#### Top Equity Performance Contributors
Ionis Pharmaceuticals, Samsung Electronics, SOL SpA, TotalEnergies, Hana Financial Group, Fuso Chemical, National Bank of Canada, BAE Systems, Novartis, and Rubis.

#### Top Equity Performance Detractors
Diageo, TX Group, Teleperformance, Alten, Azelis Group, Nestle, CNH Industrial, Arkema, Heineken Holding, and Wuliangye Yibin.

#### How Has the Fund Historically Performed?
The following graph and chart compare the initial and subsequent account values at the end of each of the most recently completed 10 years of the Fund. It assumes a $10,000 initial investment at the beginning of the first year in an appropriate, broad-based securities market index for the same period.

The Fund has changed its comparative broad-based securities market index from MSCI EAFE Index (Hedged to U.S.$) to the MSCI EAFE Index (in U.S.$) in order to comply with new regulatory requirements regarding the presentation of comparative index performance.

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](g142965chartimages_11672602.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 YEAR** | **5 YEARS** | **10 YEARS** |
| INTERNATIONAL VALUE FUND (TBGVX) | 19.25% | 8.05% | 7.63% |
| MSCI EAFE Index (in U.S.$) | 21.27% | 7.91% | 8.38% |
| MSCI EAFE Index (Hedged to U.S.$) | 20.10% | 12.46% | 11.53% |

---

 ***The preceding performance data represents past performance and is not a guarantee of future results. Total return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Current performance may be lower or higher than the performance data shown. Results are annualized for all periods greater than one year. Please visit*** www.tweedyfunds.com/mutual-funds/international-value-fund-overview/  ***to obtain performance data that is current to the most recent month end.*** 

Key Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$4129371631 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;85 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$54914139 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate as of the end of the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;14% |

---

#### What Did the Fund Invest In?
(as of March 31, 2026)

**TOP TEN HOLDINGS <sup>1</sup>** 

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;CNH Industrial NV | 3.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;DHL Group | 3.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Heineken Holding NV | 3.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;SOL SpA | 3.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;United Overseas Bank, Ltd. | 3.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Novartis AG | 3.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Roche Holding AG | 3.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Ionis Pharmaceuticals, Inc. | 3.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;TotalEnergies SE | 3.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Nestlé SA | 3.0% |

---

SECTOR ALLOCATION

![Graphical Representation - Allocation 1 Chart](g142965chartimages_11672607.jpg)

COUNTRY ALLOCATION

![Graphical Representation - Allocation 2 Chart](g142965chartimages_11672612.jpg)

*<sup>1</sup> Excludes short-term investments.*

*<sup>2</sup> Includes cash, Treasury Bills, and money market funds.*

*<sup>3</sup> Other Countries each less than 3% includes Belgium, Chile, China, Croatia, Czech Republic, Finland, Hong Kong, Mexico, Philippines and Sweden.*

#### Material Fund Changes
There have been no material changes to the Fund since April 1, 2025.

#### Where Can I Find More Information?
You can find additional information about the Fund such as the prospectus, financial information, Fund holdings and proxy voting information at www.tweedyfunds.com/mutual-funds/international-value-fund-overview/. You can also request this information by calling 1-800-432-4789.

#### Important Notice to Shareholders
In order to reduce expenses, we will deliver a single copy of prospectuses, proxies, financial reports and other communication to shareholders with the same residential address, provided they have the same last name or we reasonably believe them to be members of the same family. Unless we are notified otherwise, we will continue to send recipients only one copy of these materials for as long as they remain a shareholder of the Fund. If you would like to receive individual mailings, please call 1-800-432-4789 and we will begin sending you separate copies of these materials within 30 days after receiving your request. For additional information, please visit www.tweedyfunds.com/mutual-funds/international-value-fund-overview/.

TBGVX0326

TWEEDY, BROWNE FUND INC.

INTERNATIONAL VALUE FUND II -

CURRENCY UNHEDGED (TBCUX)

![TSR - Logo](g142965images_30974.jpg)

ANNUAL SHAREHOLDER REPORT \| March 31, 2026

This annual shareholder report contains important information about the Tweedy, Browne International Value Fund II - Currency Unhedged ("Fund") for the period of April 1, 2025 to March 31, 2026 as well as certain changes to the Fund. You can find additional information about the Fund at www.tweedyfunds.com/mutual-funds/international-value-fund-ii-overview/. You can also request this information by contacting us at

1-800-432-4789.

#### What Were the Fund Expenses for the Last Year?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Fund (Class) | **COSTS OF A $10,000 INVESTMENT** | **COSTS PAID AS A PERCENTAGE**<br> **OF A $10,000 INVESTMENT** |
| INTERNATIONAL VALUE FUND II - CURRENCY UNHEDGED (TBCUX) | $159 | 1.45% |

---

MANAGEMENTS' DISCUSSION OF FUND PERFORMANCE

#### Market Overview
The seemingly indefatigable advance in global equity markets over much of the last year faced macroeconomic headwinds near fiscal year end March 31st, as heightened geopolitical tensions, including military conflict involving Iran and the resulting disruption to global oil supply, contributed to increased volatility and a general sense of unease among investors.

The resulting war-related spike in oil prices in March helped to dampen the very recent outperformance of non-US equities relative to their US counterparts. Nevertheless, non-US equity markets, as measured by the MSCI EAFE Index (in USD), still outperformed US equities, as represented by the S&P 500, for the fiscal year ending March 31. The MSCI EAFE recorded a return of 21.27%, while the S&P 500 returned 17.70%.

As we write in mid-April, a cease-fire in the Iranian conflict has helped to spark a rebound in global equity indices, led by an unusually robust rally in US-based high technology companies. It remains to be seen whether market sentiment will revert to the AI-related market concerns that had emerged prior to the outbreak of hostilities.

Against this uncertain backdrop, the Tweedy, Browne International Value Fund II (the "Fund") produced a return of 19.04% for the twelve months ended March 31, 2026, compared to 21.27% for its benchmark, the MSCI EAFE Index in US dollars.

#### What Impacted Performance During the Period?
On an absolute return basis, industrials, health care, and information technology contributed most to performance, supported by strong results in technology hardware, chemicals, aerospace and defense, pharmaceuticals, and biotechnology. Materials and financials contributed as well, with solid results from chemicals, insurance, and banking holdings. Utilities, consumer discretionary, and energy added modestly. Consumer staples detracted, weighed down by beverages and food products holdings.

At the country level, Japan, South Korea, and the United States were the largest contributors to performance. Britain, Germany, Canada, Switzerland, France, and Mexico also added to returns. Belgium and China were the most significant detractors, while Finland and the Netherlands contributed modestly negatively.

Across market capitalization groups, mid-cap and large- to mid-cap holdings drove the bulk of the Fund's return, with smaller-cap holdings contributing nearly as meaningfully. Mega-cap holdings also added to performance.

The euro, Swiss franc, and pound sterling, which together represent the Fund's three largest foreign currency exposures, all appreciated against the US dollar and contributed positively to returns. The Japanese yen and Korean won, which together account for a meaningful portion of the Fund's currency exposure, depreciated against the dollar and offset a portion of those gains.

#### Top Equity Performance Contributors
Samsung Electronics, Ionis Pharmaceuticals, Fuso Chemical, Rubis, Hana Financial Group, TotalEnergies, Santec Holdings, BAE Systems, Inaba Denki Sangyo, and Megacable Holdings.

#### Top Equity Performance Detractors
Teleperformance, Diageo, Azelis Group, Alten, Nestle, CNH Industrial, Pets at Home, Wuliangye Yibin, Sopra Steria, and Breedon Group.

#### How Has the Fund Historically Performed?
The following graph and chart compare the initial and subsequent account values at the end of each of the most recently completed 10 years of the Fund. It assumes a $10,000 initial investment at the beginning of the first year in an appropriate, broad-based securities market index for the same period.

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](g142965chartimages_11672674.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 YEAR** | **5 YEARS** | **10 YEARS** |
| INTERNATIONAL VALUE FUND II - CURRENCY UNHEDGED (TBCUX) | 19.04% | 6.60% | 6.48% |
| MSCI EAFE Index (in U.S.$) | 21.27% | 7.91% | 8.38% |

---

  ***The preceding performance data represents past performance and is not a guarantee of future results. Total return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Current performance may be lower or higher than the performance data shown. Results are annualized for all periods greater than one year. Please visit*** www.tweedyfunds.com/mutual-funds/international-value-fund-ii-overview/  ***to obtain performance data that is current to the most recent month end.*** 

Key Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$156992835 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;71 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$2064265 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate as of the end of the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;15% |

---

#### What Did the Fund Invest In?
(as of March 31, 2026)

 **TOP TEN HOLDINGS <sup>1</sup>** 

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;CNH Industrial NV | 4.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Kemira Oyj | 3.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Roche Holding AG | 3.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Winpak, Ltd. | 3.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Rubis SCA | 3.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;United Overseas Bank, Ltd. | 3.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;DHL Group | 2.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;TotalEnergies SE | 2.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;Nestlé SA | 2.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Ionis Pharmaceuticals, Inc. | 2.4% |

---

SECTOR ALLOCATION

![Graphical Representation - Allocation 1 Chart](g142965chartimages_11672679.jpg)

COUNTRY ALLOCATION

![Graphical Representation - Allocation 2 Chart](g142965chartimages_11672684.jpg)

 *<sup>1</sup> Excludes short-term investments.*

 *<sup>2</sup> Includes cash and money market funds.*

 *<sup>3</sup> Other Countries each less than 3% includes Belgium,Chile, China, Hong Kong, Italy, Mexico, Netherlands, Philippines, Sweden, United States.*

#### Material Fund Changes
There have been no material changes to the Fund since April 1, 2025.

#### Where Can I Find More Information?
You can find additional information about the Fund such as the prospectus, financial information, Fund holdings and proxy voting information at www.tweedyfunds.com/mutual-funds/international-value-fund-ii-overview/. You can also request this information by calling 1-800-432-4789.

#### Important Notice to Shareholders
In order to reduce expenses, we will deliver a single copy of prospectuses, proxies, financial reports and other communication to shareholders with the same residential address, provided they have the same last name or we reasonably believe them to be members of the same family. Unless we are notified otherwise, we will continue to send recipients only one copy of these materials for as long as they remain a shareholder of the Fund. If you would like to receive individual mailings, please call 1-800-432-4789 and we will begin sending you separate copies of these materials within 30 days after receiving your request. For additional information, please visit www.tweedyfunds.com/mutual-funds/international-value-fund-ii-overview/.

TBCUX0326

TWEEDY, BROWNE FUND INC.

VALUE FUND

(TWEBX)

![TSR - Logo](g142965images_30974.jpg)

ANNUAL SHAREHOLDER REPORT \| March 31, 2026

This annual shareholder report contains important information about the Tweedy, Browne Value Fund ("Fund") for the period of April 1, 2025 to March 31, 2026 as well as certain changes to the Fund. You can find additional information about the Fund at www.tweedyfunds.com/mutual-funds/value-fund-overview/. You can also request this information by contacting us at 1-800-432-4789.

#### What Were the Fund Expenses for the Last Year?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Fund (Class) | **COSTS OF A $10,000 INVESTMENT** | **COSTS PAID AS A PERCENTAGE**<br>**OF A $10,000 INVESTMENT** |
| VALUE FUND (TWEBX) | $157 | 1.44% |

---

MANAGEMENTS' DISCUSSION OF FUND PERFORMANCE

#### Market Overview
The seemingly indefatigable advance in global equity markets over much of the last year faced macroeconomic headwinds near fiscal year end March 31st, as heightened geopolitical tensions, including military conflict involving Iran and the resulting disruption to global oil supply, contributed to increased volatility and a general sense of unease among investors.

The resulting war-related spike in oil prices in March helped to dampen the very recent outperformance of non-US equities relative to their US counterparts. Nevertheless, non-US equity markets, as measured by the MSCI EAFE Index (in USD), still outperformed US equities, as represented by the S&P 500, for the fiscal year ending March 31. The MSCI EAFE recorded a return of 21.27%, while the S&P 500 returned 17.70%.

As we write in mid-April, a cease-fire in the Iranian conflict has helped to spark a rebound in global equity indices, led by an unusually robust rally in US-based high technology companies. It remains to be seen whether market sentiment will revert to the AI-related market concerns that had emerged prior to the outbreak of hostilities.

Against this uncertain backdrop, the Tweedy, Browne Value Fund (the "Fund") produced a return of 18.48% for the twelve months ended March 31, 2026, compared to 18.90% for its benchmark, the MSCI World Index in US dollars.

#### What Impacted Performance During the Period?
On an absolute return basis, health care, industrials, and communication services contributed most to performance, supported by strong results in biotechnology, pharmaceuticals, aerospace and defense, and interactive media & services. Information technology and financials also added meaningfully, driven by technology hardware and banking holdings. Energy and materials contributed as well, reflecting solid results from oil and gas and chemicals positions. Utilities added modestly. Consumer staples detracted, weighed down by beverages holdings.

At the country level, the United States, South Korea, and Japan were the largest contributors to performance. Switzerland, France, Canada, Germany, and Britain also added to returns. Belgium and the Netherlands were the most significant detractors, while China contributed modestly negatively.

Across market capitalization groups, mega-cap and large- to mid-cap holdings drove the bulk of the Fund's return, while mid- and smaller-cap holdings contributed positively but less meaningfully.

The Fund's policy of hedging its foreign currency exposure modestly reduced returns during the period, as the euro, Swiss franc, pound sterling, and several other held currencies appreciated against the US dollar.

#### Top Equity Performance Contributors
Ionis Pharmaceuticals, Samsung Electronics, Alphabet, TotalEnergies, Hana Financial Group, Fuso Chemical, Johnson & Johnson, Rubis, FedEx, and Envista Holdings.

#### Top Equity Performance Detractors
Alten, Teleperformance, Azelis Group, Diageo, U-Haul, Berkshire Hathaway, CNH Industrial, Pets at Home, Sodexo, and Sopra Steria.

#### How Has the Fund Historically Performed?
The following graph and chart compare the initial and subsequent account values at the end of each of the most recently completed 10 years of the Fund. It assumes a $10,000 initial investment at the beginning of the first year in an appropriate, broad-based securities market index for the same period.

The Fund has changed its comparative broad-based securities market index from MSCI World Index (Hedged to U.S.$) to the MSCI World Index (in U.S.$) in order to comply with new regulatory requirements regarding the presentation of comparative index performance.

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](g142965chartimages_11672566.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 YEAR** | **5 YEARS** | **10 YEARS** |
| VALUE FUND (TWEBX) | 18.48% | 8.39% | 8.33% |
| MSCI World Index (in U.S.$) | 18.90% | 10.27% | 11.80% |
| MSCI World 100% Hedged to U.S.$ Index | 18.56% | 11.65% | 12.85% |

---

 ***The preceding performance data represents past performance and is not a guarantee of future results. Total return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Current performance may be lower or higher than the performance data shown. Results are annualized for all periods greater than one year. Please visit*** www.tweedyfunds.com/mutual-funds/value-fund-overview/  ***to obtain performance data that is current to the most recent month end.*** 

Key Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$458137923 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;86 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$5480510 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate as of the end of the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;16% |

---

#### What Did the Fund Invest In?
(as of March 31, 2026)

**TOP TEN HOLDINGS <sup>1</sup>** 

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;CNH Industrial NV | 3.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Roche Holding AG | 3.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;TotalEnergies SE | 3.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Ionis Pharmaceuticals, Inc. | 2.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Nestlé SA | 2.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;United Overseas Bank, Ltd. | 2.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Safran SA | 2.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Samsung Electronics Co., Ltd. | 2.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Berkshire Hathaway, Inc. | 2.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;DHL Group | 2.2% |

---

SECTOR ALLOCATION

![Graphical Representation - Allocation 1 Chart](g142965chartimages_11672571.jpg)

COUNTRY ALLOCATION

![Graphical Representation - Allocation 2 Chart](g142965chartimages_11672576.jpg)

*<sup>1</sup> Excludes short-term investments.*

*<sup>2</sup> Includes cash, Treasury Bills, and money market funds.*

*<sup>3</sup> Other Countries each less than 3% includes Belgium, Canada, China, Finland, Hong Kong, Mexico, Netherlands, Philippines, Singapore and Sweden.*

#### Material Fund Changes
There have been no material changes to the Fund since April 1, 2025.

#### Where Can I Find More Information?
You can find additional information about the Fund such as the prospectus, financial information, Fund holdings and proxy voting information at www.tweedyfunds.com/mutual-funds/value-fund-overview/. You can also request this information by calling 1-800-432-4789.

#### Important Notice to Shareholders
In order to reduce expenses, we will deliver a single copy of prospectuses, proxies, financial reports and other communication to shareholders with the same residential address, provided they have the same last name or we reasonably believe them to be members of the same family. Unless we are notified otherwise, we will continue to send recipients only one copy of these materials for as long as they remain a shareholder of the Fund. If you would like to receive individual mailings, please call 1-800-432-4789 and we will begin sending you separate copies of these materials within 30 days after receiving your request. For additional information, please visit www.tweedyfunds.com/mutual-funds/value-fund-overview/.

TWEBX0326

TWEEDY, BROWNE FUND INC.

WORLDWIDE HIGH DIVIDEND YIELD

VALUE FUND (TBHDX)

![TSR - Logo](g142965images_30974.jpg)

ANNUAL SHAREHOLDER REPORT \| March 31, 2026

This annual shareholder report contains important information about the Tweedy, Browne Worldwide High Dividend Yield Value Fund ("Fund") for the period of April 1, 2025 to March 31, 2026 as well as certain changes to the Fund. You can find additional information about the Fund at www.tweedyfunds.com/mutual-funds/worldwide-high-dividend-yield-value-fund-overview/. You can also request this information by contacting us at 1-800-432-4789.

#### What Were the Fund Expenses for the Last Year?
(Based on a hypothetical $10,000 investment)

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| | | |
|:---|:---|:---|
| Fund (Class) | **COSTS OF A $10,000 INVESTMENT** | **COSTS PAID AS A PERCENTAGE**<br>**OF A $10,000 INVESTMENT** |
| WORLDWIDE HIGH DIVIDEND YIELD VALUE FUND (TBHDX) | $152 | 1.44% |

---

MANAGEMENTS' DISCUSSION OF FUND PERFORMANCE

#### Market Overview
The seemingly indefatigable advance in global equity markets over much of the last year faced macroeconomic headwinds near fiscal year end March 31st, as heightened geopolitical tensions, including military conflict involving Iran and the resulting disruption to global oil supply, contributed to increased volatility and a general sense of unease among investors.

The resulting war-related spike in oil prices in March helped to dampen the very recent outperformance of non-US equities relative to their US counterparts. Nevertheless, non-US equity markets, as measured by the MSCI EAFE Index (in USD), still outperformed US equities, as represented by the S&P 500, for the fiscal year ending March 31. The MSCI EAFE recorded a return of 21.27%, while the S&P 500 returned 17.70%. As we write in mid-April, a cease-fire in the Iranian conflict has helped to spark a rebound in global equity indices, led by an unusually robust rally in US-based high technology companies. It remains to be seen whether market sentiment will revert to the AI-related market concerns that had emerged prior to the outbreak of hostilities.

Against this uncertain backdrop, the Tweedy, Browne Worldwide High Dividend Yield Value Fund (the "Fund") produced a return of 11.63% for the twelve months ended March 31, 2026, compared to 18.90% for its benchmark, the MSCI World Index in US dollars.

#### What Impacted Performance During the Period?
On an absolute return basis, industrials contributed most to performance, supported by strong results in industrial conglomerates, aerospace and defense, air freight & logistics, and machinery holdings. Financials also added meaningfully, driven by banking and insurance. Health care, utilities, and communication services each contributed positively, as did consumer discretionary. Materials and consumer staples detracted materially, weighed down by chemicals, beverages, and food products holdings.

At the country level, Japan, Hong Kong, Mexico, and South Korea were the largest contributors to performance. Switzerland, Singapore, Germany, Belgium, Sweden, Britain, and France also added to returns. The United States, China, the Netherlands, and Finland were the most significant detractors.

Across market capitalization groups, large- to mid-cap holdings drove the bulk of the Fund's return, with mid-cap holdings also contributing meaningfully. Mega-cap holdings added modestly, while smaller-cap holdings detracted slightly.

The euro, Swiss franc, and pound sterling, which together represent the Fund's three largest foreign currency exposures, all appreciated against the US dollar and contributed positively to returns. The Japanese yen depreciated and offset a portion of those gains.

#### Top Equity Performance Contributors
Rubis, Megacable, Jardine Matheson, BAE Systems, Novartis, DB Insurance Inaba Denki Sangyo, DBS Group, US Bancorp, and Safran.

#### Top Equity Performance Detractors
FMC Corp, Diageo, Teleperformance, Nestle, Sopra Steria, Breedon Group, SThree, Whitbread, CNH Industrial, and Pets at Home.

#### How Has the Fund Historically Performed?
The following graph and chart compare the initial and subsequent account values at the end of each of the most recently completed 10 years of the Fund. It assumes a $10,000 initial investment at the beginning of the first year in an appropriate, broad-based securities market index for the same period.

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](g142965chartimages_11672638.jpg)

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| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 YEAR** | **5 YEARS** | **10 YEARS** |
| WORLDWIDE HIGH DIVIDEND YIELD VALUE FUND (TBHDX) | 11.63% | 5.03% | 6.43% |
| MSCI World Index (in U.S.$) | 18.90% | 10.27% | 11.80% |
| MSCI World High Dividend Yield Index (in U.S.$) | 15.92% | 8.64% | 8.56% |

---

 ***The preceding performance data represents past performance and is not a guarantee of future results. Total return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Current performance may be lower or higher than the performance data shown. Results are annualized for all periods greater than one year. Please visit*** www.tweedyfunds.com/mutual-funds/worldwide-high-dividend-yield-value-fund-overview/  ***to obtain performance data that is current to the most recent month end.*** 

Key Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$60963178 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;52 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$625712 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate as of the end of the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;18% |

---

#### What Did the Fund Invest In?
(as of March 31, 2026)

**TOP TEN HOLDINGS <sup>1</sup>** 

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Nestlé SA | 4.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Roche Holding AG | 4.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Novartis AG | 4.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Rubis SCA | 3.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Safran SA | 3.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;CNH Industrial NV | 3.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Kemira Oyj | 3.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;DHL Group | 3.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Megacable Holdings SAB de CV | 3.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;United Overseas Bank, Ltd. | 2.6% |

---

SECTOR ALLOCATION

![Graphical Representation - Allocation 1 Chart](g142965chartimages_11672643.jpg)

COUNTRY ALLOCATION

![Graphical Representation - Allocation 2 Chart](g142965chartimages_11672648.jpg)

<sup>1</sup> Excludes short-term investments.

*<sup>2</sup> Amount represents less than 0.1% of net assets.*

*<sup>3</sup> Includes cash and money market funds.*

*<sup>4</sup> Other Countries each less than 3% includes Belgium, China, Hong Kong, South Korea, Sweden.*

#### Material Fund Changes
Effective May 27, 2026, the Tweedy, Browne Worldwide High Dividend Yield Value Fund will change its name to Tweedy, Browne . Buybacks . Dividends + Value Fund. This change will be accompanied by certain strategy changes which have been outlined in the sticker to the prospectus dated March 27, 2026.

#### Where Can I Find More Information?
You can find additional information about the Fund such as the prospectus, financial information, Fund holdings and proxy voting information at www.tweedyfunds.com/mutual-funds/worldwide-high-dividend-yield-value-fund-overview/. You can also request this information by calling

1-800-432-4789.

#### Important Notice to Shareholders
In order to reduce expenses, we will deliver a single copy of prospectuses, proxies, financial reports and other communication to shareholders with the same residential address, provided they have the same last name or we reasonably believe them to be members of the same family. Unless we are notified otherwise, we will continue to send recipients only one copy of these materials for as long as they remain a shareholder of the Fund. If you would like to receive individual mailings, please call 1-800-432-4789 and we will begin sending you separate copies of these materials within 30 days after receiving your request. For additional information, please visit www.tweedyfunds.com/mutual-funds/worldwide-high-dividend-yield-value-fund-overview/.

TBHDX0326

TWEEDY, BROWNE FUND INC.

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(b) The registrant has not yet relied upon Rule 30e-3 of the Act.

#### Item 2. Code of Ethics.
(a) The registrant, as of the end of the period covered by this report, has adopted a code of ethics that applies to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party.

(c) During the period covered by this report, there were no amendments to a provision of the code of ethics referenced in Item 2(a) above that relates to any element of the code of ethics definition enumerated in paragraph (b) of Item 2 of Form N-CSR.

(d) The registrant has not granted any waivers, including an implicit waiver, from a provision of the code of ethics that applies to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, that relates to one or more of the items set forth in paragraph (b) of this item's instructions.

(f)(1) A copy of registrant's code of ethics that applies to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions is filed as Exhibit 19(a)(1) to this Form N-CSR.

#### Item 3. Audit Committee Financial Expert.
The registrant's board of directors has determined that Jeannine G. Caruso is qualified to serve as an audit committee financial expert serving on its audit committee and that she is "independent," as defined by Item 3 of Form N-CSR.

#### Item 4. Principal Accountant Fees and Services.
<u>Audit Fees</u> 

(a) The aggregate fees billed for each of the last two fiscal years for professional services rendered by the principal accountant for the audit of the registrant's annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years were $250,000 for 2025 and $250,000 for 2026.

<u>Audit-Related Fees</u> 

(b) The aggregate fees billed in each of the last two fiscal years for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant's financial statements and are not reported under paragraph (a) of this Item were $0 for 2025 and $0 for 2026.

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<u>Tax Fees</u> 

(c) The aggregate fees billed in each of the last two fiscal years for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning were $140,565 for 2025 and $233,565 for 2026.

<u>All Other Fees</u> 

(d) The aggregate fees billed in each of the last two fiscal years for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) of this Item were $0 for 2025 and $0 for 2026.

(e)(1) Disclose the audit committee's pre-approval policies and procedures described in paragraph (c)(7) of Rule 2-01 of Regulation S-X.

The registrant's Audit Committee reviews, negotiates and approves in advance the scope of work, any related engagement letter and the fees to be charged by the independent auditors for audit services and, subject to any de minimis exceptions, permitted non-audit services for the registrant and permitted non-audit services for the registrant's investment adviser and any affiliates thereof that provide services to the registrant if such non-audit services have a direct impact on the operations or financial reporting of the registrant.

---

| | |
|:---|:---|
| (e)(2) | There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception (Rule 2-01(c)(7)(i)(C) of Regulation S-X) for the last two fiscal years.  |

---

(f) The percentage of hours expended on the principal accountant's engagement to audit the registrant's financial statements for the most recent fiscal year that were attributed to work performed by persons other than the principal accountant's full-time, permanent employees was less than fifty percent.

(g) The aggregate non-audit fees billed by the registrant's accountant for services rendered to the registrant, and rendered to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for each of the last two fiscal years of the registrant were $234,265 for 2025 and $345,676 for 2026.

(h) The registrant's audit committee of the board of directors has considered whether the provision of non-audit services that were rendered to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant's independence.

(i) Not applicable.

(j) The registrant is not a foreign issuer.

------

#### Item 5. Audit Committee of Listed Registrants.
Not applicable.

#### Item 6. Investments.
(a) Schedule I – Investments in securities of unaffiliated issuers as of the close of the reporting period as set forth in § 210.1212 of Regulation S-X [17 CFR 210.12-12], is included in the financial statements filed under Item 7 of this form.

(b) Not applicable.

#### Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.
The annual Financial Statements and Financial Highlights are attached herewith.

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![LOGO](g142965g01a01.jpg)

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Tweedy, Browne Fund INC.

INVESTMENT TEAM

![LOGO](g142965g01a02.jpg)

\* MANAGING DIRECTOR/INVESTMENT COMMITTEE MEMBER

† MANAGEMENT COMMITTEE MEMBER

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Tweedy, Browne Fund INC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  [Tweedy, Browne International Value Fund](#fin142965_1) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Portfolio of Investments](#fin142965_2) | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Schedule of Forward Exchange Contracts](#fin142965_3) | 4 |
|  [Tweedy, Browne International Value Fund II - Currency Unhedged](#fin142965_4) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Portfolio of Investments](#fin142965_5) | 6 |
|  [Tweedy, Browne Value Fund](#fin142965_6) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Portfolio of Investments](#fin142965_7) | 8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Schedule of Forward Exchange Contracts](#fin142965_8) | 10 |
|  [Tweedy, Browne Worldwide High Dividend Yield Value Fund](#fin142965_9) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Portfolio of Investments](#fin142965_10) | 12 |
|  [Tweedy, Browne Fund Inc.](#fin142965_11) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Statements of Assets and Liabilities](#fin142965_12) | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Statements of Operations](#fin142965_13) | 15 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Statements of Changes in Net Assets](#fin142965_14) | 16 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Financial Highlights](#fin142965_15) | 18 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Notes to Financial Statements](#fin142965_16) | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Report of Independent Registered Public Accounting Firm](#fin142965_17) | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Other Information](#fin142965_18) | 35 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Investment in the Funds by Managing Directors and Employees of the Investment Adviser](#fin142965_19) | 35 |

---

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Tweedy, Browne International Value Fund

Portfolio of Investments

March 31, 2026

---

| | | |
|:---|:---|:---|
| Shares |  | Value\* |
| COMMON STOCKS—87.7% | COMMON STOCKS—87.7% |  |
|  | Belgium—0.6% |  |
| 130000 | Azelis Group NV | $1321495 |
| 926488 | Fagron | 23201147 |
|  |  | 24522642 |
|  | Canada—3.6% |  |
| 251390 | Lassonde Industries, Inc., Class A<sup>(a)</sup> | 40982938 |
| 348210 | National Bank of Canada | 44915110 |
| 1926869 | Winpak, Ltd. | 62325869 |
|  |  | 148223917 |
|  | China—1.1% |  |
| 8383895 | Haitian International Holdings, Ltd. | 21787729 |
| 4665400 | Shanghai Mechanical and Electrical Industry Co., Ltd., Class B | 6138509 |
| 15974780 | Uni-President China Holdings, Ltd. | 16034050 |
|  |  | 43960288 |
|  | Czech Republic—0.1% |  |
| 2800 | Philip Morris CR a.s | 2470531 |
|  | Finland—1.5% |  |
| 2919753 | Kemira Oyj | 63455272 |
|  | France—8.9% |  |
| 200000 | Alten SA | 12360906 |
| 2292291 | Rubis SCA | 92595860 |
| 315965 | Safran SA | 103066512 |
| 657000 | Sodexo SA | 33618667 |
| 1369597 | TotalEnergies SE | 125296659 |
|  |  | 366938604 |
|  | Germany—6.9% |  |
| 2644654 | DHL Group | 138951415 |
| 1084451 | Fresenius SE & Co., KGaA | 56100693 |
| 42354 | KSB SE & Co., KGaA | 47196663 |
| 18683 | Rheinmetall AG | 31414710 |
| 572760 | Springer Nature AG & Co., KGaA. | 12108544 |
|  |  | 285772025 |
|  | Hong Kong—2.6% |  |
| 7965154 | Hang Lung Group, Ltd. | 15230031 |
| 6670900 | Prudential plc | 92402945 |
|  |  | 107632976 |
|  | Italy—3.3% |  |
| 1986401 | SOL SpA | 134806270 |
|  | Japan—9.3% |  |
| 1218825 | ADEKA Corp. | 28413085 |
| 2310582 | Fuso Chemical Co., Ltd. | 41132815 |
| 481855 | Hosokawa Micron Corp. | 17849764 |
| 1771252 | Kanadevia Corp. | 11572245 |
| 1958145 | Koito Manufacturing Co., Ltd. | 30858320 |

---

---

| | | |
|:---|:---|:---|
| Shares |  | Value\* |
|  | Japan (continued) |  |
| 2029080 | Kuraray Co., Ltd. | $21340764 |
| 1586635 | Nakanishi, Inc. | 27484636 |
| 902365 | Nifco, Inc. | 25527211 |
| 164400 | Nippon Kanzai Holdings Co., Ltd. | 2986285 |
| 1357200 | Nippon Sanso Holdings Corp. | 48007682 |
| 104825 | Okamoto Industries, Inc. | 3962574 |
| 5545 | Santec Holdings Corp. | 611456 |
| 910290 | Shoei Co., Ltd. | 9546007 |
| 219835 | Shofu, Inc. | 2353056 |
| 2450385 | Subaru Corp. | 39383573 |
| 2892795 | Sysmex Corp. | 25166691 |
| 657770 | Taikisha, Ltd. | 13954410 |
| 353354 | Takara Holdings, Inc. | 3462145 |
| 588565 | Transcosmos, Inc. | 14493312 |
| 164305 | YAMABIKO Corp. | 3721811 |
|  | Miscellaneous Securities<sup>(b)</sup> | 11324144 |
|  |  | 383151986 |
|  | Mexico—2.9% |  |
| 889229 | Coca-Cola FEMSA SAB de CV, Sponsored ADR | 86744289 |
| 9067593 | Megacable Holdings SAB de CV | 31191133 |
|  |  | 117935422 |
|  | Netherlands—4.3% |  |
| 1170235 | Aalberts NV | 40626676 |
| 1917912 | Heineken Holding NV | 136059607 |
| 29000 | IMCD NV | 3025149 |
|  |  | 179711432 |
|  | Philippines—0.1% |  |
| 22609020 | Alliance Global Group, Inc. | 3342041 |
|  | Singapore—3.2% |  |
| 4698381 | United Overseas Bank, Ltd. | 134030824 |
|  | South Korea—5.4% |  |
| 132322 | Binggrae Co., Ltd. | 6267920 |
| 276537 | Dentium Co., Ltd. | 9244079 |
| 1017582 | Hana Financial Group, Inc. | 74178555 |
| 697275 | LG Corp. | 39426297 |
| 326749 | LX Holdings Corp. | 1724523 |
| 793715 | Samsung Electronics Co., Ltd. | 92834011 |
|  |  | 223675385 |
|  | Sweden—2.7% |  |
| 290251 | Autoliv, Inc. | 30522795 |
| 2184684 | Trelleborg AB, Class B | 81194991 |
|  |  | 111717786 |
|  | Switzerland—12.1% |  |
| 142761 | Coltene Holding AG, Registered | 8445132 |
| 1279479 | Nestlé SA, Registered | 124888497 |
| 859726 | Novartis AG, Registered | 131314469 |
| 63203 | Phoenix Mecano AG, Registered<sup>(a)</sup> | 32896520 |
| 330276 | Roche Holding AG<sup>(c)</sup> | 131162190 |

---

 <br> SEE NOTES TO FINANCIAL STATEMENTS

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Tweedy, Browne International Value Fund

Portfolio of Investments

March 31, 2026

---

| | | |
|:---|:---|:---|
| Shares |  | Value\* |
|  | Switzerland (continued) |  |
| 377500 | TX Group AG | $62587214 |
| 282247 | Vetropack Holding AG, |  |
|  | Registered | 8084231 |
|  |  | 499378253 |
|  | United Kingdom—15.9% |  |
| 6283290 | Autotrader Group plc, 144A<sup>(d)</sup> | 39182044 |
| 1573868 | BAE Systems plc | 45972635 |
| 473985 | Berkeley Group Holdings plc | 21632374 |
| 6757986 | Breedon Group plc | 26557033 |
| 765834 | Bunzl plc | 22970420 |
| 12634951 | CNH Industrial NV | 138984461 |
| 1665825 | Computacenter plc | 66522866 |
| 4180528 | CVS Group plc<sup>(a)</sup> | 62256351 |
| 3643259 | Diageo plc | 67503639 |
| 2704933 | Grafton Group plc | 32235256 |
| 5083505 | Inchcape plc | 50277136 |
| 23996321 | Johnson Service Group plc<sup>(a)</sup> | 40377678 |
| 12591767 | Pets at Home Group plc | 30389689 |
| 16292379 | Vertu Motors plc<sup>(a)</sup> | 12439676 |
|  | Miscellaneous Security<sup>(b)</sup> | 484205 |
|  |  | 657785463 |
|  | United States—3.2% |  |
| 1743125 | Ionis Pharmaceuticals, Inc.<sup>(c)</sup> | 130891256 |
| **TOTAL COMMON STOCKS**<br> (Cost $2,017,856,127) | **TOTAL COMMON STOCKS**<br> (Cost $2,017,856,127) | 3619402373 |
| PREFERRED STOCKS—1.0% | PREFERRED STOCKS—1.0% |  |
|  | Chile—1.0% |  |
| 11043674 | Embotelladora Andina SA, Class A<br>(Cost $26,318,927) | 40230856 |
|  | Croatia—0.0%<sup>(e)</sup> |  |
| 30000 | Adris Grupa DD<br>(Cost $1,437,096) | 2806514 |
| **TOTAL PREFERRED STOCKS**<br> (Cost $27,756,023) | **TOTAL PREFERRED STOCKS**<br> (Cost $27,756,023) | 43037370 |
| AFFILIATED EXCHANGE TRADED FUND—1.0% | AFFILIATED EXCHANGE TRADED FUND—1.0% | AFFILIATED EXCHANGE TRADED FUND—1.0% |
| 3669670 | Tweedy Browne International Insider + Value ETF(a)<br>(Cost $42,433,644) | 42127811 |

---

---

| | |
|:---|:---|
| Shares | Value\* |
| REGISTERED INVESTMENT COMPANY—5.5% | REGISTERED INVESTMENT COMPANY—5.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228134165 Dreyfus Treasury Securities Cash Management– Institutional Shares 3.53%<sup>(f)</sup><br>(Cost $228,134,165) | $228134165 |
| Face Value |  |
| U.S. TREASURY BILL—1.2% | U.S. TREASURY BILL—1.2% |
| $50000000 3.537%<sup>(g)</sup> due 04/09/2026<br>(Cost $49,961,156) | 49959845 |

---

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| | | |
|:---|:---|:---|
|  INVESTMENTS IN SECURITIES<br>(Cost $2,366,141,115) | 96.4% | 3982661564 |
|  UNREALIZED APPRECIATION ON FORWARD CONTRACTS (Net) | 1.9 | 76399947 |
|  OTHER ASSETS<br>AND LIABILITIES (Net) | 1.7 | 70310120 |
|  NET ASSETS | 100.0% | $4129371631 |

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\* See Note 2 in Notes to Financial Statements.

&nbsp;&nbsp;&nbsp;&nbsp;(a) "Affiliated company" as defined by the Investment Company Act of 1940. SeeNote4.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Represents one or more issuers where disclosure may be disadvantageous to the Fund's accumulation or disposition program. The aggregate amount of $11,808,349 represents 0.3% of the net assets of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(d) The resale of such security is exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold normally to qualified institutional buyers. At March 31, 2026, the value of these securities amounted to $39,182,044, or 1.0% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Amount represents less than 0.1% of net assets. (f) Rate disclosed is the 7-day yield at March 31, 2026. (g) Rate represents annualized yield at date of purchase.

Abbreviations:

ADR — American Depositary Receipt

ETF — Exchange Traded Fund

 <br> SEE NOTES TO FINANCIAL STATEMENTS

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Tweedy, Browne International Value Fund

Schedule of Forward Exchange Contracts

March 31, 2026

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Contracts |  | Counter-<br>party | Settlement<br>Date | Contract Value on<br>Origination Date | Value 03/31/26\* | Unrealized<br>Appreciation<br>(Depreciation) |
| FORWARD EXCHANGE CONTRACTS TO BUY<sup>(a)</sup> | FORWARD EXCHANGE CONTRACTS TO BUY<sup>(a)</sup> |  |  |  |  |  |
| 8119813 | Canadian Dollar | NTC | 4/30/26 | $5971242 | $5826046 | $(145196) |
| 7904371 | Canadian Dollar | NTC | 5/29/26 | 5820966 | 5678497 | (142469) |
| 353657 | Canadian Dollar | NTC | 6/30/26 | 257941 | 254417 | (3524) |
| 103350494 | Chinese Yuan | NTC | 4/30/26 | 14969572 | 14999636 | 30064 |
| 50538152 | Chinese Yuan | NTC | 5/29/26 | 7340145 | 7347546 | 7401 |
| 49889583 | Chinese Yuan | NTC | 6/30/26 | 7261222 | 7268719 | 7497 |
| 690667 | Czech Koruna | NTC | 4/30/26 | 32721 | 32405 | (316) |
| 690667 | Czech Koruna | NTC | 5/29/26 | 32730 | 32414 | (316) |
| 690667 | Czech Koruna | NTC | 6/30/26 | 32739 | 32425 | (314) |
| 39491994 | European Union Euro | NTC | 4/30/26 | 45839819 | 45572103 | (267716) |
| 39491994 | European Union Euro | NTC | 5/29/26 | 45901426 | 45627884 | (273542) |
| 22722631 | Great Britain Pound Sterling | NTC | 4/30/26 | 30436315 | 29963059 | (473256) |
| 22722631 | Great Britain Pound Sterling | NTC | 5/29/26 | 30438276 | 29960106 | (478170) |
| 17979726 | Hong Kong Dollar | NTC | 4/30/26 | 2299920 | 2297348 | (2572) |
| 17979726 | Hong Kong Dollar | NTC | 5/29/26 | 2303392 | 2300697 | (2695) |
| 3389867 | Hong Kong Dollar | NTC | 6/30/26 | 435030 | 434363 | (667) |
| 3518913270 | Japanese Yen | NTC | 4/30/26 | 22405865 | 22185151 | (220714) |
| 3518913269 | Japanese Yen | NTC | 5/29/26 | 22460190 | 22229451 | (230739) |
| 1206618631 | Japanese Yen | NTC | 6/30/26 | 7657497 | 7642331 | (15166) |
| 106764073 | Mexican Peso | NTC | 4/30/26 | 5980316 | 5902677 | (77639) |
| 106764073 | Mexican Peso | NTC | 5/29/26 | 5963975 | 5886905 | (77070) |
| 28631068 | Mexican Peso | NTC | 6/30/26 | 1591773 | 1574520 | (17253) |
| 3570770 | Singapore Dollar | NTC | 4/30/26 | 2797378 | 2774042 | (23336) |
| 3570770 | Singapore Dollar | NTC | 5/29/26 | 2803026 | 2779252 | (23774) |
| 3570770 | Singapore Dollar | NTC | 6/30/26 | 2809261 | 2785225 | (24036) |
| 10895005003 | South Korean Won | NTC | 4/30/26 | 7156501 | 7119522 | (36979) |
| 10895005003 | South Korean Won | NTC | 5/29/26 | 7161675 | 7125403 | (36272) |
| 10895005003 | South Korean Won | NTC | 6/30/26 | 7169923 | 7133273 | (36650) |
| 57300030 | Swedish Krona. | NTC | 4/30/26 | 6269209 | 6024945 | (244264) |
| 45150136 | Swedish Krona. | NTC | 5/29/26 | 4920647 | 4753814 | (166833) |
| 18415368 | Swedish Krona. | NTC | 6/30/26 | 1983662 | 1941931 | (41731) |
| 23320948 | Swiss Franc | NTC | 4/30/26 | 29738312 | 29125081 | (613231) |
| 15822400 | Swiss Franc | NTC | 5/29/26 | 20203051 | 19818383 | (384668) |
| 575924 | Swiss Franc | NTC | 6/30/26 | 735535 | 723850 | (11685) |
| TOTAL |  |  |  | $359181252 | $355153421 | $(4027831) |
| FORWARD EXCHANGE CONTRACTS TO SELL<sup>(a)</sup> | FORWARD EXCHANGE CONTRACTS TO SELL<sup>(a)</sup> |  |  |  |  |  |
| 77176566 | Canadian Dollar | NTC | 4/30/26 | $(56414157) | $(55374950) | $1039207 |
| 76961124 | Canadian Dollar | NTC | 5/29/26 | (56478287) | (55288838) | 1189449 |
| 69410410 | Canadian Dollar | NTC | 6/30/26 | (50613513) | (49933104) | 680409 |
| 12600000000 | Chilean Peso | NTC | 4/30/26 | (13826402) | (13504678) | 321724 |
| 12600000000 | Chilean Peso | NTC | 5/29/26 | (13826857) | (13506033) | 320824 |
| 12600000000 | Chilean Peso | NTC | 6/30/26 | (13826857) | (13505402) | 321455 |
| 103350494 | Chinese Yuan | NTC | 4/30/26 | (14921507) | (14999636) | (78129) |
| 50538152 | Chinese Yuan | NTC | 5/29/26 | (7368783) | (7347546) | 21237 |
| 49889582 | Chinese Yuan | NTC | 6/30/26 | (7277599) | (7268719) | 8880 |
| 18517334 | Czech Koruna | NTC | 4/30/26 | (899093) | (868793) | 30300 |
| 18517334 | Czech Koruna | NTC | 5/29/26 | (901974) | (869047) | 32927 |
| 18517333 | Czech Koruna | NTC | 6/30/26 | (877322) | (869339) | 7983 |
| 370928078 | European Union Euro | NTC | 4/30/26 | (437926095) | (428035424) | 9890671 |
| 370928078 | European Union Euro | NTC | 5/29/26 | (439016573) | (428559346) | 10457227 |
| 331436084 | European Union Euro | NTC | 6/30/26 | (385313591) | (383447355) | 1866236 |
| 176879993 | Great Britain Pound Sterling | NTC | 4/30/26 | (239860785) | (233241742) | 6619043 |
| 176879993 | Great Britain Pound Sterling | NTC | 5/29/26 | (238840913) | (233218742) | 5622171 |
| 154157363 | Great Britain Pound Sterling | NTC | 6/30/26 | (206188660) | (203217944) | 2970716 |
| 155835027 | Hong Kong Dollar | NTC | 4/30/26 | (20030912) | (19911719) | 119193 |
| 155835026 | Hong Kong Dollar | NTC | 5/29/26 | (20003226) | (19940749) | 62477 |
| 141245167 | Hong Kong Dollar | NTC | 6/30/26 | (18115041) | (18098554) | 16487 |

---

 <br> SEE NOTES TO FINANCIAL STATEMENTS

------

Tweedy, Browne International Value Fund

Schedule of Forward Exchange Contracts

March 31, 2026

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Contracts |  | Counter-<br>party | Settlement<br>Date | Contract Value on<br>Origination Date | Value 03/31/26\* | Unrealized<br>Appreciation<br>(Depreciation) |
| FORWARD EXCHANGE CONTRACTS TO SELL<sup>(a)</sup> (continued) | FORWARD EXCHANGE CONTRACTS TO SELL<sup>(a)</sup> (continued) |  |  |  |  |  |
| 23479287343 | Japanese Yen | NTC | 4/30/26 | $(149786183) | $(148026251) | $1759932 |
| 23479287343 | Japanese Yen | NTC | 5/29/26 | (152769858) | (148321836) | 4448022 |
| 21166992705 | Japanese Yen | NTC | 6/30/26 | (134229933) | (134064869) | 165064 |
| 775609345 | Mexican Peso | NTC | 4/30/26 | (44625030) | (42881197) | 1743833 |
| 775609345 | Mexican Peso | NTC | 5/29/26 | (44807466) | (42766620) | 2040846 |
| 697476340 | Mexican Peso | NTC | 6/30/26 | (38782139) | (38356596) | 425543 |
| 69799305 | Philippine Peso | NTC | 4/30/26 | (1166011) | (1147147) | 18864 |
| 69799305 | Philippine Peso | NTC | 5/29/26 | (1164042) | (1145712) | 18330 |
| 69799305 | Philippine Peso | NTC | 6/30/26 | (1162038) | (1144016) | 18022 |
| 60546470 | Singapore Dollar | NTC | 4/30/26 | (47708052) | (47037052) | 671000 |
| 60546470 | Singapore Dollar | NTC | 5/29/26 | (48095069) | (47125379) | 969690 |
| 60546470 | Singapore Dollar | NTC | 6/30/26 | (47599314) | (47226662) | 372652 |
| 119000000000 | South Korean Won | NTC | 4/30/26 | (80277937) | (77762530) | 2515407 |
| 119000000000 | South Korean Won | NTC | 5/29/26 | (80356540) | (77826758) | 2529782 |
| 119000000000 | South Korean Won | NTC | 6/30/26 | (80438015) | (77912725) | 2525290 |
| 300455359 | Swedish Krona. | NTC | 4/30/26 | (33510686) | (31592075) | 1918611 |
| 288305465 | Swedish Krona. | NTC | 5/29/26 | (32023100) | (30355402) | 1667698 |
| 261570697 | Swedish Krona. | NTC | 6/30/26 | (28158306) | (27583059) | 575247 |
| 151887392 | Swiss Franc | NTC | 4/30/26 | (194398469) | (189689232) | 4709237 |
| 144388845 | Swiss Franc | NTC | 5/29/26 | (188193800) | (180854576) | 7339224 |
| 129142369 | Swiss Franc | NTC | 6/30/26 | (164787358) | (162312361) | 2474997 |
| TOTAL |  |  |  | $(3836567493) | $(3756139715) | $80427778 |
| Unrealized Appreciation on Forward Contracts (Net) | Unrealized Appreciation on Forward Contracts (Net) |  |  |  |  | $76399947 |

---

\* See Note 2 in Notes to Financial Statements.

(a) Primary risk exposure being hedged against is currency risk.

Counterparty Abbreviations:

NTC — Northern Trust Company

 <br> SEE NOTES TO FINANCIAL STATEMENTS

------

Tweedy, Browne International Value Fund II - Currency Unhedged

Portfolio of Investments

March 31, 2026

---

| | | |
|:---|:---|:---|
| Shares |  | Value\* |
| COMMON STOCKS—93.7% | COMMON STOCKS—93.7% |  |
|  | Belgium—2.4% |  |
| 174634 | Azelis Group NV | $1775216 |
| 79510 | Fagron | 1991092 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3766308 |
|  | Canada—6.2% |  |
| 107540 | E-L Financial Corp., Ltd. | 1219848 |
| 21490 | Lassonde Industries, Inc., Class A | 3503414 |
| 154890 | Winpak, Ltd. | 5010021 |
|  |  | 9733283 |
|  | China—0.9% |  |
| 89370 | Wuliangye Yibin Co., Ltd., Class A | 1342056 |
|  | Finland—3.6% |  |
| 262373 | Kemira Oyj | 5702178 |
|  | France—11.4% |  |
| 15005 | Alten SA | 927377 |
| 26270 | Arkema SA | 1797946 |
| 123575 | Rubis SCA | 4991746 |
| 10891 | Safran SA | 3552600 |
| 46105 | Sodexo SA | 2359191 |
| 46997 | TotalEnergies SE | 4299489 |
|  |  | 17928349 |
|  | Germany—4.0% |  |
| 85164 | DHL Group | 4474558 |
| 758 | Rheinmetall AG | 1274547 |
| 22185 | Springer Nature AG & Co., KGaA | 469006 |
|  |  | 6218111 |
|  | Hong Kong—2.2% |  |
| 247308 | Prudential plc | 3425623 |
|  | Italy—1.2% |  |
| 28467 | SOL SpA | 1931901 |
|  | Japan—16.5% |  |
| 103690 | ADEKA Corp. | 2417207 |
| 12000 | Fukuda Denshi Co., Ltd. | 738460 |
| 86403 | Fuso Chemical Co., Ltd. | 1538140 |
| 223260 | Inaba Denki Sangyo Co., Ltd. | 3717403 |
| 89190 | Koito Manufacturing Co., Ltd. | 1405541 |
| 89625 | Kuraray Co., Ltd. | 942627 |
| 71300 | Nakanishi, Inc. | 1235101 |
| 48080 | Nifco, Inc. | 1360146 |
| 300 | Nihon Nohyaku Co., Ltd. | 1916 |
| 59015 | Nippon Sanso Holdings Corp. | 2087513 |
| 24910 | Okamoto Industries, Inc. | 941643 |
| 12555 | Santec Holdings Corp. | 1384460 |
| 43165 | Shoei Co., Ltd. | 452662 |
| 35805 | Shofu, Inc. | 383247 |
| 142920 | Subaru Corp. | 2297068 |
| 161875 | Sysmex Corp. | 1408278 |
| 88120 | Taikisha, Ltd. | 1869442 |

---

---

| | | |
|:---|:---|:---|
| Shares |  | Value\* |
|  | Japan (continued) |  |
| 49005 | Transcosmos, Inc. | $1206740 |
|  | Miscellaneous Securities<sup>(a)</sup> | 453001 |
|  |  | 25840595 |
|  | Mexico—1.6% |  |
| 15652 | Coca-Cola FEMSA SAB de CV, Sponsored ADR | 1526853 |
| 279830 | Megacable Holdings SAB de CV | 962572 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2489425 |
|  | Netherlands—2.7% |  |
| 37313 | Aalberts NV | 1295383 |
| 41905 | Heineken Holding NV | 2972805 |
|  |  | 4268188 |
|  | Philippines—0.7% |  |
| 6997100 | Alliance Global Group, Inc. | 1034304 |
|  | Singapore—3.1% |  |
| 173282 | United Overseas Bank, Ltd. | 4943220 |
|  | South Korea—5.1% |  |
| 11120 | Dentium Co., Ltd. | 371719 |
| 24303 | Hana Financial Group, Inc. | 1771613 |
| 41728 | LG Corp. | 2359443 |
| 30630 | Samsung Electronics Co., Ltd. | 3582528 |
|  |  | 8085303 |
|  | Sweden—2.4% |  |
| 13060 | Autoliv, Inc. | 1373390 |
| 66474 | Trelleborg AB, Class B | 2470543 |
|  |  | 3843933 |
|  | Switzerland—8.3% |  |
| 41630 | Nestlé SA, Registered | 4063457 |
| 21938 | Novartis AG, Registered | 3350808 |
| 12870 | Roche Holding AG<sup>(b)</sup> | 5111051 |
| 15528 | Vetropack Holding AG, Registered | 444759 |
|  |  | 12970075 |
|  | United Kingdom—19.0% |  |
| 249415 | Autotrader Group plc, 144A<sup>(c)</sup> | 1555330 |
| 60877 | BAE Systems plc | 1778215 |
| 57730 | Berkeley Group Holdings plc | 2634760 |
| 371955 | Breedon Group plc | 1461681 |
| 29190 | Bunzl plc | 875525 |
| 573095 | CNH Industrial NV | 6304045 |
| 40702 | Computacenter plc | 1625389 |
| 201529 | CVS Group plc | 3001166 |
| 70793 | Diageo plc | 1311679 |
| 129854 | Grafton Group plc | 1547497 |
| 197085 | Inchcape plc | 1949220 |
| 1504280 | Johnson Service Group plc | 2531194 |
| 587870 | Pets at Home Group plc | 1418799 |
| 2363589 | Vertu Motors plc | 1804665 |
|  |  | 29799165 |

---

 <br> SEE NOTES TO FINANCIAL STATEMENTS

------

Tweedy, Browne International Value Fund II - Currency Unhedged

Portfolio of Investments

March 31, 2026

---

| | | |
|:---|:---|:---|
| Shares |  | Value\* |
|  | United States—2.4% |  |
| 50402 | Ionis Pharmaceuticals, Inc.<sup>(b)</sup> | $3784686 |
| TOTAL COMMON STOCKS<br> (Cost $104,352,997) | TOTAL COMMON STOCKS<br> (Cost $104,352,997) | 147106703 |
| PREFERRED STOCKS—1.6% | PREFERRED STOCKS—1.6% |  |
|  | Chile—1.2% |  |
| 502717 | Embotelladora Andina SA, Class A<br>(Cost $1,425,923) | 1831341 |
|  | Germany—0.4% |  |
| 648 | KSB SE & Co., KGaA<br>(Cost $341,191) | 688381 |
| **TOTAL PREFERRED STOCKS**<br>(Cost $1,767,114) | **TOTAL PREFERRED STOCKS**<br>(Cost $1,767,114) | 2519722 |

---

---

| | | |
|:---|:---|:---|
| Shares |  | Value\* |
| REGISTERED INVESTMENT COMPANY—0.4% | REGISTERED INVESTMENT COMPANY—0.4% |  |
| 690809 Dreyfus Government Securities Cash Management– Institutional Shares 3.50%<sup>(d)</sup><br>(Cost $690,809) |  | $690809 |
| **INVESTMENTS IN SECURITIES<br>(Cost $106,810,920)** | 95.7% | 150317234 |
| OTHER ASSETS<br>AND LIABILITIES (Net) | 4.3 | 6675601 |
| NET ASSETS | 100.0% | $156992835 |

---

\* See Note 2 in Notes to Financial Statements.

&nbsp;&nbsp;&nbsp;&nbsp;(a) Represents one or more issuers where disclosure may be disadvantageous to the Fund's accumulation or disposition program. The aggregate amount of $453,001 represents 0.3% of the net assets of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(c) The resale of such security is exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold normally to qualified institutional buyers. At March 31, 2026, the value of these securities amounted to $1,555,330, or 1.0% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Rate disclosed is the 7-day yield at March 31, 2026.

Abbreviations:

ADR — American Depositary Receipt

 <br> SEE NOTES TO FINANCIAL STATEMENTS

------

Tweedy, Browne Value Fund

Portfolio of Investments

March 31, 2026

---

| | | |
|:---|:---|:---|
| Shares |  | Value\* |
| COMMON STOCKS—93.0% | COMMON STOCKS—93.0% |  |
|  | Belgium—1.4% |  |
| 468965 | Azelis Group NV | $4767193 |
| 66181 | Fagron | 1657307 |
|  |  | 6424500 |
|  | Canada—1.9% |  |
| 18010 | Lassonde Industries, Inc., Class A | 2936086 |
| 180543 | Winpak, Ltd. | 5839785 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8775871 |
|  | China—2.6% |  |
| 231680 | Baidu, Inc., Class A<sup>(a)</sup> | 3238881 |
| 1006590 | Haitian International Holdings, Ltd. | 2615885 |
| 345561 | Shanghai Mechanical and Electrical |  |
|  | Industry Co., Ltd., Class B | 454673 |
| 2349905 | Uni-President China Holdings, Ltd. | 2358624 |
| 215487 | Wuliangye Yibin Co., Ltd., Class A | 3235937 |
|  |  | 11904000 |
|  | Finland—1.3% |  |
| 276019 | Kemira Oyj | 5998747 |
|  | France—11.7% |  |
| 73222 | Alten SA | 4525452 |
| 61785 | Arkema SA | 4228629 |
| 231766 | Rubis SCA | 9362063 |
| 31707 | Safran SA | 10342696 |
| 142526 | Sodexo SA | 7293050 |
| 12410 | Sopra Steria Group | 1732285 |
| 34075 | Teleperformance SE | 1996022 |
| 151650 | TotalEnergies SE | 13873598 |
|  |  | 53353795 |
|  | Germany—4.2% |  |
| 190881 | DHL Group | 10028981 |
| 94730 | Fresenius SE & Co., KGaA | 4900561 |
| 1783 | Rheinmetall AG | 2998043 |
| 62980 | Springer Nature AG & Co., KGaA | 1331441 |
|  |  | 19259026 |
|  | Hong Kong—2.1% |  |
| 692967 | Prudential plc | 9598733 |
|  | Japan—9.1% |  |
| 110975 | ADEKA Corp. | 2587034 |
| 282615 | Fuso Chemical Co., Ltd. | 5031092 |
| 37260 | Hosokawa Micron Corp. | 1380254 |
| 73190 | Inaba Denki Sangyo Co., Ltd. | 1218654 |
| 160830 | Koito Manufacturing Co., Ltd. | 2534513 |
| 166240 | Nakanishi, Inc. | 2879708 |
| 86160 | Nifco, Inc. | 2437400 |
| 119065 | Nihon Nohyaku Co., Ltd. | 760578 |
| 139680 | Nippon Sanso Holdings Corp. | 4940844 |
| 28005 | Okamoto Industries, Inc. | 1058639 |

---

---

| | | |
|:---|:---|:---|
| Shares |  | Value\* |
|  | Japan (continued) |  |
| 99420 | Shoei Co., Ltd. | $1042595 |
| 3295 | Shofu, Inc. | 35269 |
| 250250 | Subaru Corp. | 4022119 |
| 454800 | Sysmex Corp. | 3956662 |
| 77040 | Taikisha, Ltd. | 1634382 |
| 87100 | Transcosmos, Inc. | 2144822 |
| 99120 | YAMABIKO Corp. | 2245251 |
|  | Miscellaneous Securities<sup>(b)</sup> | 1510609 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41420425 |
|  | Mexico—1.1% |  |
| 52210 | Coca-Cola FEMSA SAB de CV, |  |
|  | Sponsored ADR | 5093085 |
|  | Netherlands—2.5% |  |
| 113350 | Aalberts NV | 3935136 |
| 107573 | Heineken Holding NV | 7631393 |
|  |  | 11566529 |
|  | Philippines—0.2% |  |
| 6542900 | Alliance Global Group, Inc. | 967164 |
|  | Singapore—2.3% |  |
| 371712 | United Overseas Bank, Ltd. | 10603837 |
|  | South Korea—4.8% |  |
| 27774 | Dentium Co., Ltd. | 928429 |
| 95475 | Hana Financial Group, Inc. | 6959830 |
| 70858 | LG Corp. | 4006552 |
| 86935 | Samsung Electronics Co., Ltd. | 10168039 |
|  |  | 22062850 |
|  | Sweden—1.5% |  |
| 26854 | Autoliv, Inc. | 2823967 |
| 111490 | Trelleborg AB, Class B | 4143587 |
|  |  | 6967554 |
|  | Switzerland—7.6% |  |
| 111780 | Nestlé SA, ADR | 11077398 |
| 50749 | Novartis AG, Registered | 7751397 |
| 36998 | Roche Holding AG<sup>(a)</sup> | 14692980 |
| 46164 | Vetropack Holding AG, Registered | 1322248 |
|  |  | 34844023 |
|  | United Kingdom—14.8% |  |
| 715277 | Autotrader Group plc, 144A<sup>(c)</sup> | 4460404 |
| 277290 | BAE Systems plc | 8099632 |
| 44185 | Berkeley Group Holdings plc | 2016575 |
| 1023898 | Breedon Group plc | 4023639 |
| 85448 | Bunzl plc | 2562927 |
| 1388915 | CNH Industrial NV | 15278065 |
| 150005 | Computacenter plc | 5990283 |
| 421886 | CVS Group plc | 6282719 |
| 59900 | Diageo plc, Sponsored ADR | 4459555 |
| 223196 | Grafton Group plc | 2659874 |
| 282425 | Inchcape plc | 2793254 |

---

 <br> SEE NOTES TO FINANCIAL STATEMENTS

------

Tweedy, Browne Value Fund

Portfolio of Investments

March 31, 2026

---

| | | |
|:---|:---|:---|
| Shares |  | Value\* |
|  | United Kingdom (continued) |  |
| 3392036 | Johnson Service Group plc | $5707647 |
| 1396111 | Pets at Home Group plc | 3369454 |
|  |  | 67704028 |
|  | United States—23.9% |  |
| 28178 | Alphabet, Inc., Class A | 8102866 |
| 1254 | AutoZone, Inc.<sup>(a)</sup> | 4235736 |
| 76760 | Bank of America Corp. | 3742050 |
| 14 | Berkshire Hathaway, Inc., Class A<sup>(a)</sup>  | 10053960 |
| 15000 | Berkshire Hathaway, Inc., Class B<sup>(a)</sup> | 7188000 |
| 50649 | Enterprise Products Partners LP | 1916558 |
| 372000 | Envista Holdings Corp.<sup>(a)</sup> | 9437640 |
| 19040 | FedEx Corp. | 6781667 |
| 169635 | Ionis Pharmaceuticals, Inc.<sup>(a)</sup> | 12737892 |
| 14885 | Jazz Pharmaceuticals plc<sup>(a)</sup> | 2814009 |
| 39238 | Johnson & Johnson | 9591337 |
| 110450 | Truist Financial Corp. | 5077387 |
| 122928 | U-Haul Holding Co. | 5491194 |
| 24945 | UniFirst Corp. | 6275913 |
| 14241 | Vertex Pharmaceuticals, Inc.<sup>(a)</sup> | 6359176 |
| 122981 | Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9790517 |
|  |  | 109595902 |
| **TOTAL COMMON STOCKS**<br> (Cost $268,118,184) | **TOTAL COMMON STOCKS**<br> (Cost $268,118,184) | 426140069 |
| REGISTERED INVESTMENT COMPANY—4.0% | REGISTERED INVESTMENT COMPANY—4.0% |  |
| 18406415 | Dreyfus Government Securities Cash Management– Institutional Shares 3.50%<sup>(d)</sup><br>(Cost $18,406,415) | 18406415 |

---

---

| | |
|:---|:---|
| Face Value | Value\* |
| SHORT-TERM INVESTMENT—0.4% |  |
| $2003326 BNY Mellon Cash Reserve EOD Fund 0.30%<sup>(e)</sup><br>(Cost $2,003,326) | $2003326 |
| U.S. TREASURY BILL—0.9% |  |
| $4000000 3.614%<sup>(f)</sup> due 05/28/2026<br>(Cost $3,977,380) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3977029 |

---

---

| | | |
|:---|:---|:---|
|  INVESTMENTS IN SECURITIES<br>(Cost $292,505,305) | 98.3% | 450526839 |
|  **UNREALIZED APPRECIATION ON<br>FORWARD CONTRACTS (Net)** | 1.3 | 5851582 |
|  OTHER ASSETS<br>AND LIABILITIES (Net) | 0.4 | 1759502 |
|  NET ASSETS | 100.0% | $458137923 |

---

\* See Note 2 in Notes to Financial Statements.

&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Represents one or more issuers where disclosure may be disadvantageous to the Fund's accumulation or disposition program. The aggregate amount of $1,510,609 represents 0.3% of the net assets of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;(c) The resale of such security is exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold normally to qualified institutional buyers. At March 31, 2026, the value of these securities amounted to $4,460,404, or 1.0% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Rate disclosed is the 7-day yield at March 31, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Rate disclosed is the 1-day yield at March 31, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Rate represents annualized yield at date of purchase.

Abbreviations:

ADR — American Depositary Receipt

 <br> SEE NOTES TO FINANCIAL STATEMENTS

------

Tweedy, Browne Value Fund

Schedule of Forward Exchange Contracts

March 31, 2026

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Contracts |  | Counter-<br>party | Settlement<br>Date | Contract Value on<br>Origination Date | Value 03/31/26\* | Unrealized<br>Appreciation<br>(Depreciation) |
| FORWARD EXCHANGE CONTRACTS TO BUY<sup>(a)</sup> | FORWARD EXCHANGE CONTRACTS TO BUY<sup>(a)</sup> |  |  |  |  |  |
| 406542 | Canadian Dollar | NTC | 4/30/26 | $296800 | $291698 | $(5102) |
| 406542 | Canadian Dollar | NTC | 5/29/26 | 297174 | 292060 | (5114) |
| 1074044 | Chinese Yuan | NTC | 4/30/26 | 155501 | 155880 | 379 |
| 418142 | Chinese Yuan | NTC | 5/29/26 | 60902 | 60792 | (110) |
| 418142 | Chinese Yuan | NTC | 6/30/26 | 61028 | 60922 | (106) |
| 5136863 | European Union Euro | NTC | 4/30/26 | 5967464 | 5927725 | (39739) |
| 5136863 | European Union Euro | NTC | 5/29/26 | 5975586 | 5934980 | (40606) |
| 1192335 | European Union Euro | NTC | 6/30/26 | 1386714 | 1379445 | (7269) |
| 1420505 | Great Britain Pound Sterling | NTC | 4/30/26 | 1911888 | 1873140 | (38748) |
| 1420505 | Great Britain Pound Sterling | NTC | 5/29/26 | 1911927 | 1872955 | (38972) |
| 5476361 | Hong Kong Dollar. | NTC | 4/30/26 | 701264 | 699738 | (1526) |
| 5476361 | Hong Kong Dollar. | NTC | 5/29/26 | 702146 | 700757 | (1389) |
| 1349025 | Hong Kong Dollar. | NTC | 6/30/26 | 173124 | 172858 | (266) |
| 160299366 | Japanese Yen | NTC | 4/30/26 | 1012075 | 1010615 | (1460) |
| 160299366 | Japanese Yen | NTC | 5/29/26 | 1014565 | 1012633 | (1932) |
| 160299366 | Japanese Yen | NTC | 6/30/26 | 1017299 | 1015284 | (2015) |
| 5941080 | Mexican Peso | NTC | 4/30/26 | 334696 | 328465 | (6231) |
| 5941081 | Mexican Peso | NTC | 5/29/26 | 333800 | 327588 | (6212) |
| 2309499 | Mexican Peso | NTC | 6/30/26 | 128399 | 127007 | (1392) |
| 282501 | Singapore Dollar | NTC | 4/30/26 | 221314 | 219468 | (1846) |
| 282501 | Singapore Dollar | NTC | 5/29/26 | 221761 | 219880 | (1881) |
| 282501 | Singapore Dollar | NTC | 6/30/26 | 222254 | 220353 | (1901) |
| 1125715754 | South Korean Won | NTC | 4/30/26 | 739438 | 735618 | (3820) |
| 1125715754 | South Korean Won | NTC | 5/29/26 | 739973 | 736225 | (3748) |
| 1125715754 | South Korean Won | NTC | 6/30/26 | 740825 | 737039 | (3786) |
| 2924166 | Swedish Krona | NTC | 4/30/26 | 319934 | 307469 | (12465) |
| 2304126 | Swedish Krona | NTC | 5/29/26 | 251113 | 242599 | (8514) |
| 939783 | Swedish Krona | NTC | 6/30/26 | 101231 | 99102 | (2129) |
| 652790 | Swiss Franc | NTC | 4/30/26 | 830851 | 815256 | (15595) |
| 652790 | Swiss Franc | NTC | 5/29/26 | 833513 | 817653 | (15860) |
| 26130 | Swiss Franc | NTC | 6/30/26 | 33372 | 32842 | (530) |
| TOTAL |  |  |  | $28697931 | $28428046 | $(269885) |
| FORWARD EXCHANGE CONTRACTS TO SELL<sup>(a)</sup> | FORWARD EXCHANGE CONTRACTS TO SELL<sup>(a)</sup> |  |  |  |  |  |
| 4517837 | Canadian Dollar | NTC | 4/30/26 | $(3302326) | $(3241593) | $60733 |
| 4517838 | Canadian Dollar | NTC | 5/29/26 | (3315048) | (3245613) | 69435 |
| 4111295 | Canadian Dollar | NTC | 6/30/26 | (2997935) | (2957622) | 40313 |
| 8259755 | Chinese Yuan | NTC | 4/30/26 | (1192781) | (1198769) | (5988) |
| 7603853 | Chinese Yuan | NTC | 5/29/26 | (1108692) | (1105495) | 3197 |
| 7603854 | Chinese Yuan | NTC | 6/30/26 | (1109205) | (1107852) | 1353 |
| 32214225 | European Union Euro | NTC | 4/30/26 | (38038096) | (37173862) | 864234 |
| 32214224 | European Union Euro | NTC | 5/29/26 | (38132712) | (37219363) | 913349 |
| 28269697 | European Union Euro | NTC | 6/30/26 | (32865049) | (32705975) | 159074 |
| 15942926 | Great Britain Pound Sterling | NTC | 4/30/26 | (21607038) | (21023043) | 583995 |
| 15942926 | Great Britain Pound Sterling | NTC | 5/29/26 | (21520931) | (21020970) | 499961 |
| 14522421 | Great Britain Pound Sterling | NTC | 6/30/26 | (19423960) | (19144181) | 279779 |
| 26881232 | Hong Kong Dollar. | NTC | 4/30/26 | (3455348) | (3434732) | 20616 |
| 26881232 | Hong Kong Dollar. | NTC | 5/29/26 | (3450515) | (3439739) | 10776 |
| 22753895 | Hong Kong Dollar. | NTC | 6/30/26 | (2918243) | (2915587) | 2656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2287127615 | Japanese Yen | NTC | 4/30/26 | (14581267) | (14419301) | 161966 |
| 2287127615 | Japanese Yen | NTC | 5/29/26 | (14881312) | (14448095) | 433217 |
| 2287127617 | Japanese Yen | NTC | 6/30/26 | (14503760) | (14485925) | 17835 |
| 34946987 | Mexican Peso | NTC | 4/30/26 | (2019656) | (1932118) | 87538 |
| 34946987 | Mexican Peso | NTC | 5/29/26 | (2018911) | (1926955) | 91956 |
| 31315405 | Mexican Peso | NTC | 6/30/26 | (1741247) | (1722141) | 19106 |
| 20199455 | Philippine Peso | NTC | 4/30/26 | (337499) | (331976) | 5523 |
| 20199455 | Philippine Peso | NTC | 5/29/26 | (336929) | (331561) | 5368 |
| 20199455 | Philippine Peso | NTC | 6/30/26 | (336350) | (331070) | 5280 |

---

 <br> SEE NOTES TO FINANCIAL STATEMENTS

------

Tweedy, Browne Value Fund

Schedule of Forward Exchange Contracts

March 31, 2026

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Contracts |  | Counter-<br>party | Settlement<br>Date | Contract Value on<br>Origination Date | Value 03/31/26\* | Unrealized<br>Appreciation<br>(Depreciation) |
| FORWARD EXCHANGE CONTRACTS TO SELL<sup>(a)</sup> (continued) | FORWARD EXCHANGE CONTRACTS TO SELL<sup>(a)</sup> (continued) |  |  |  |  |  |
| 4790129 | Singapore Dollar | NTC | 4/30/26 | $(3774407) | $(3721332) | $53075 |
| 4790128 | Singapore Dollar | NTC | 5/29/26 | (3805037) | (3728321) | 76716 |
| 4790129 | Singapore Dollar | NTC | 6/30/26 | (3765816) | (3736333) | 29483 |
| 11780000000 | South Korean Won | NTC | 4/30/26 | (7946841) | (7697837) | 249004 |
| 11780000000 | South Korean Won | NTC | 5/29/26 | (7954622) | (7704195) | 250427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11780000000 | South Korean Won | NTC | 6/30/26 | (7962688) | (7712705) | 249983 |
| 15333004 | Swedish Krona | NTC | 4/30/26 | (1710136) | (1612224) | 97912 |
| 14712964 | Swedish Krona | NTC | 5/29/26 | (1634220) | (1549113) | 85107 |
| 13348620 | Swedish Krona | NTC | 6/30/26 | (1436990) | (1407634) | 29356 |
| 6680466 | Swiss Franc | NTC | 4/30/26 | (8556568) | (8343105) | 213463 |
| 6680466 | Swiss Franc | NTC | 5/29/26 | (8707282) | (8367633) | 339649 |
| 6053806 | Swiss Franc | NTC | 6/30/26 | (7724736) | (7608716) | 116020 |
| TOTAL |  |  |  | $(310174153) | $(304052686) | $6121467 |
| Unrealized Appreciation on Forward Contracts (Net) | Unrealized Appreciation on Forward Contracts (Net) |  |  |  |  | $5851582 |

---

\* See Note 2 in Notes to Financial Statements.

(a) Primary risk exposure being hedged against is currency risk.

Counterparty Abbreviations:

NTC — Northern Trust Company

 <br> SEE NOTES TO FINANCIAL STATEMENTS

------

Tweedy, Browne Worldwide High Dividend Yield Value Fund

Portfolio of Investments

March 31, 2026

---

| | | |
|:---|:---|:---|
| Shares |  | Value\* |
| COMMON STOCKS—95.9% | COMMON STOCKS—95.9% |  |
|  | Belgium—1.5% |  |
| 7175 | KBC Group NV | $875390 |
|  | China—2.9% |  |
| 308710 | Haitian International Holdings, Ltd. | 802263 |
| 976845 | Uni-President China Holdings, Ltd. | 980470 |
|  |  | 1782733 |
|  | Finland—3.4% |  |
| 95220 | Kemira Oyj | 2069425 |
|  | France—12.0% |  |
| 8826 | Arkema SA | 604061 |
| 58430 | Rubis SCA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2360248 |
| 6495 | Safran SA | 2118643 |
| 18195 | Sodexo SA | 931037 |
| 3235 | Sopra Steria Group | 451567 |
| 14570 | Teleperformance SE | 853471 |
|  |  | 7319027 |
|  | Germany—4.3% |  |
| 36145 | DHL Group | 1899076 |
| 1154 | Muenchener Rueckversicherungs AG, Registered | 726497 |
|  |  | 2625573 |
|  | Hong Kong—2.3% |  |
| 407000 | Hang Lung Group, Ltd. | 778218 |
| 8810 | Jardine Matheson Holdings, Ltd. | 633291 |
|  |  | 1411509 |
|  | Japan—10.0% |  |
| 42370 | ADEKA Corp. | 987724 |
| 90630 | Inaba Denki Sangyo Co., Ltd. | 1509040 |
| 49105 | Isuzu Motors, Ltd. | 705438 |
| 56600 | Kuraray Co., Ltd. | 595288 |
| 49970 | Shoei Co., Ltd. | 524024 |
| 64635 | Subaru Corp. | 1038840 |
| 30400 | Transcosmos, Inc. | 748595 |
|  |  | 6108949 |
|  | Mexico—4.1% |  |
| 6845 | Coca-Cola FEMSA SAB de CV, Sponsored ADR | 667730 |
| 531475 | Megacable Holdings SAB de CV | 1828193 |
|  |  | 2495923 |
|  | Netherlands—4.2% |  |
| 36370 | Aalberts NV | 1262646 |
| 18400 | Heineken Holding NV | 1305324 |
|  |  | 2567970 |
|  | Singapore—4.6% |  |
| 27889 | DBS Group Holdings, Ltd. | 1236783 |
| 55229 | United Overseas Bank, Ltd. | 1575519 |
|  |  | 2812302 |

---

---

| | | |
|:---|:---|:---|
| Shares |  | Value\* |
|  | South Korea—1.7% |  |
| 13365 | LG Corp. | $755703 |
| 53223 | LX Holdings Corp. | 280901 |
|  |  | 1036604 |
|  | Sweden—2.5% |  |
| 3000 | Autoliv, Inc. | 315480 |
| 31750 | Trelleborg AB, Class B | 1180006 |
|  |  | 1495486 |
|  | Switzerland—15.1% |  |
| 28420 | Nestlé SA, Registered | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2774044 |
| 16072 | Novartis AG, Registered | 2454836 |
| 6570 | Roche Holding AG<sup>(a)</sup> | 2609137 |
| 1947 | Zurich Insurance Group AG | 1369411 |
|  |  | 9207428 |
|  | United Kingdom—21.5% |  |
| 40276 | BAE Systems plc | 1176461 |
| 223580 | Breedon Group plc | 878608 |
| 47245 | Bunzl plc | 1417066 |
| 192430 | CNH Industrial NV | 2116730 |
| 32215 | Computacenter plc | 1286470 |
| 39705 | CVS Group plc | 591286 |
| 68020 | Diageo plc | 1260300 |
| 40695 | Grafton Group plc | 484971 |
| 133180 | Inchcape plc | 1317183 |
| 648860 | Johnson Service Group plc | 1091812 |
| 315729 | Pets at Home Group plc | 761998 |
| 120610 | SThree plc | 236982 |
| 15920 | Whitbread plc | 487653 |
|  |  | 13107520 |
|  | United States—5.8% |  |
| 11200 | Bank of America Corp. | 546000 |
| 900 | Enterprise Products Partners LP | 34056 |
| 30645 | Truist Financial Corp. | 1408751 |
| 30030 | U.S. Bancorp | 1561860 |
|  |  | 3550667 |
| **TOTAL COMMON STOCKS**<br> (Cost $43,261,161) | **TOTAL COMMON STOCKS**<br> (Cost $43,261,161) | 58466506 |

---

 <br> SEE NOTES TO FINANCIAL STATEMENTS

------

Tweedy, Browne Worldwide High Dividend Yield Value Fund

Portfolio of Investments

March 31, 2026

---

| | |
|:---|:---|
| Shares | Value\* |
| REGISTERED INVESTMENT COMPANY—3.1% | REGISTERED INVESTMENT COMPANY—3.1% |
| 1915515 Dreyfus Government Securities Cash Management– Institutional Shares 3.50%<sup>(b)</sup><br>(Cost $1,915,515) | $1915515 |

---

---

| | | |
|:---|:---|:---|
|  INVESTMENTS IN SECURITIES<br>(Cost $45,176,676) | 99.0% | 60382021 |
|  OTHER ASSETS<br>AND LIABILITIES (Net) | 1 | 581157 |
|  NET ASSETS | 100.0% | $60963178 |

---

\* See Note 2 in Notes to Financial Statements.

&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Rate disclosed is the 7-day yield at March 31, 2026.

Abbreviations:

ADR — American Depositary Receipt

 <br> SEE NOTES TO FINANCIAL STATEMENTS

------

Tweedy, Browne Fund INC.

Statements of Assets and Liabilities

March 31, 2026

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | International Value<br>Fund | International Value<br>Fund II -<br>Currency<br>Unhedged | Value Fund | Worldwide High<br>Dividend Yield<br>Value Fund |
|  ASSETS |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments in securities, at cost<sup>(a)</sup> | $2366141115 | $106810920 | $292505305 | $45176676 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments in securities of unaffiliated issuers, at value | $3751580590 | $150317234 | $450526839 | $60382021 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments in securities of affiliated issuers, at value | 231080974 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cash | 104424 | 5011191 |  | 540 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends and interest receivable | 12600126 | 613323 | 1201251 | 224134 |
| &nbsp;&nbsp;&nbsp;&nbsp; Receivable for investment securities sold | 35570715 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Recoverable foreign withholding taxes | 28733003 | 1346148 | 1173324 | 528987 |
| &nbsp;&nbsp;&nbsp;&nbsp; Receivable for Fund shares sold | 322975 |  | 2043573 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation on forward exchange contracts (Note 2) | 80550869 |  | 6127834 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Prepaid expense | 66434 | 3608 | 5281 | 2397 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Assets | $4140610110 | $157291504 | $461078102 | $61138079 |
|  LIABILITIES |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation of forward exchange contracts (Note 2) | $4150922 | $— | $276252 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; Payable for Fund shares redeemed | 1607934 | 12668 | 30219 | 42612 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment advisory fee payable (Note 3) | 2788017 | 107682 | 311427 | 42116 |
| &nbsp;&nbsp;&nbsp;&nbsp; Payable for investment securities purchased | 767894 |  | 67570 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Shareholder servicing and administration fees payable (Note 3) | 103233 | 4168 | 11401 | 1649 |
| &nbsp;&nbsp;&nbsp;&nbsp; Directors' fees payable | 112281 | 4906 | 6709 | 1464 |
| &nbsp;&nbsp;&nbsp;&nbsp; Due to custodian |  |  | 1995767 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Fund administration and accounting fees payable | 278377 | 10755 | 30594 | 4265 |
| &nbsp;&nbsp;&nbsp;&nbsp; Audit fees payable | 390104 | 78296 | 91465 | 31644 |
| &nbsp;&nbsp;&nbsp;&nbsp; Legal fees payable | 194187 | 12214 | 19674 | 2849 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accrued expenses and other payables | 845530 | 67980 | 99101 | 48302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Liabilities**. | 11238479 | 298669 | 2940179 | 174901 |
|  NET ASSETS | $4129371631 | $156992835 | $458137923 | $60963178 |
|  NET ASSETS consists of |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Paid-in capital | 2136218173 | 106015811 | 283128962 | 46518858 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total distributable earnings | 1993153458 | 50977024 | 175008961 | 14444320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Net Assets**. | $4129371631 | $156992835 | $458137923 | $60963178 |
|  **CAPITAL STOCK** (common stock outstanding) | 141679439 | 9375951 | 22444088 | 10227916 |
|  **NET ASSET VALUE** offering price per share | $29.15 | $16.74 | $20.41 | $5.96 |

---

(a) Includes investments in securities of affiliated issuers, at cost for International Value Fund, International Value Fund II – Currency Unhedged, Value Fund and Worldwide High Dividend Yield Value Fund of $196,010,946, $0, $0 and $0, respectively (Note 4).

 <br> SEE NOTES TO FINANCIAL STATEMENTS

------

Tweedy, Browne Fund INC.

Statements of Operations

For the Year Ended March 31, 2026

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | International Value<br>Fund | International Value<br>Fund II -<br>Currency<br>Unhedged | Value<br>Fund | Worldwide High<br>Dividend Yield<br>Value Fund |
|  INVESTMENT INCOME |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends<sup>(a)</sup> | $139727967 | $5489525 | $11094697 | $2402810 |
| &nbsp;&nbsp;&nbsp;&nbsp; Less foreign withholding taxes | (10046021) | (385672) | (624725) | (140793) |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest | 2047983 |  | 832062 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Other | 4852492 | 227669 |  | 43384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investment Income | 136582421 | 5331522 | 11302034 | 2305401 |
|  EXPENSES |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment advisory fee (Note 3) | 54941178 | 2218209 | 5513543 | 796126 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfer agent fees (Note 3) | 2314399 | 68727 | 148126 | 43895 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fund administration and accounting fees (Note 3) | 1163272 | 46959 | 116767 | 16858 |
| &nbsp;&nbsp;&nbsp;&nbsp; Legal fees | 1051517 | 44671 | 97316 | 14419 |
| &nbsp;&nbsp;&nbsp;&nbsp; Custodian fees (Note 3) | 913347 | 54168 | 76931 | 19301 |
| &nbsp;&nbsp;&nbsp;&nbsp; Directors' fees and expenses (Note 3) | 874498 | 34917 | 83923 | 12149 |
| &nbsp;&nbsp;&nbsp;&nbsp; Audit fees | 485098 | 116835 | 126206 | 65983 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shareholder servicing and administration fees (Note 3) | 413128 | 19686 | 38743 | 5793 |
| &nbsp;&nbsp;&nbsp;&nbsp; Registration fees | 66233 | 45165 | 48074 | 68353 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest expense |  | 775 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Other | 1205519 | 68680 | 156387 | 47794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total expenses before waivers | 63428189 | 2718792 | 6406016 | 1090671 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment advisory fees waived (Note 3) | (27039) | (153944) | (33033) | (170414) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Expenses | 63401150 | 2564848 | 6372983 | 920257 |
|  NET INVESTMENT INCOME | 73181271 | 2766674 | 4929051 | 1385144 |
|  REALIZED AND UNREALIZED GAIN (LOSS) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Securities<sup>(a)(b)</sup> | 813978419 | 17699724 | 38066959 | 2373672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward exchange contracts | (57445275) |  | (3507284) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currencies and net other assets | 284722 | 10789 | (198220) | (8091) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain | 756817866 | 17710513 | 34361455 | 2365581 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation (depreciation) of: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Securities<sup>(c)</sup> | (105467435) | 10222010 | 29387923 | 3181298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward exchange contracts | 43997973 |  | 5798697 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currencies and net other assets | 1542437 | 69967 | 57247 | 30525 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) | (59927025) | 10291977 | 35243867 | 3211823 |
|  NET REALIZED AND UNREALIZED GAIN (LOSS) | 696890841 | 28002490 | 69605322 | 5577404 |
|  NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | $770072112 | $30769164 | $74534373 | $6962548 |

---

(a) Dividends and Net realized gain (loss) on securities from affiliated issuers for International Value Fund were $4,257,031 and $0, respectively (Note 4).

(b) Net realized gain (loss) on securities includes realized gains of $120,738,705, $1,115,306, $19,780,177, and $421,277 for International Value Fund, International Value Fund II - Currency Unhedged, Value Fund and Worldwide High Dividend Yield Value Fund, respectively, for redemption-in-kind activity, which will not be recognized by the Funds for tax purposes (Note 6).

(c) Net change in unrealized appreciation (depreciation) of securities from affiliated issuers for International Value Fund was $12,116,430 (Note 4).

 <br> SEE NOTES TO FINANCIAL STATEMENTS

------

Tweedy, Browne Fund INC.

Statements of Changes in Net Assets

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | International Value Fund | International Value Fund | International Value Fund II –<br>Currency Unhedged | International Value Fund II –<br>Currency Unhedged |
|  | Year Ended<br>3/31/2026 | Year Ended<br>3/31/2025 | Year Ended<br>3/31/2026 | Year Ended<br>3/31/2025 |
|  INVESTMENT ACTIVITIES: |  |  |  |  |
|  Net investment income | $73181271 | $102765606 | $2766674 | $5423423 |
|  Net realized gain | 756817866 | 1109289855 | 17710513 | 60812500 |
|  Net change in unrealized appreciation (depreciation) | (59927025) | (996912008) | 10291977 | (64378666) |
|  Net increase in net assets resulting from operations | 770072112 | 215143453 | 30769164 | 1857257 |
|  DISTRIBUTIONS: |  |  |  |  |
|  Distributions to shareholders | (470406328) | (458511784) | (12299899) | (35566360) |
|  CAPITAL STOCK TRANSACTIONS: |  |  |  |  |
|  Net decrease in net assets from Fund share transactions (Note 5) | (702289157) | (1165903542) | (42449741) | (142367662) |
|  Net decrease in net assets | (402623373) | (1409271873) | (23980476) | (176076765) |
|  NET ASSETS: |  |  |  |  |
|  Beginning of year | 4531995004 | 5941266877 | 180973311 | 357050076 |
|  End of year | $4129371631 | $4531995004 | $156992835 | $180973311 |

---

 <br> SEE NOTES TO FINANCIAL STATEMENTS

------

Tweedy, Browne Fund INC.

Statements of Changes in Net Assets

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Value Fund | Value Fund | Worldwide High Dividend<br>Yield Value Fund | Worldwide High Dividend<br>Yield Value Fund |
|  | Year Ended<br>3/31/2026 | Year Ended<br>3/31/2025 | Year Ended<br>3/31/2026 | Year Ended<br>3/31/2025 |
|  INVESTMENT ACTIVITIES: |  |  |  |  |
|  Net investment income | $4929051 | $6459489 | $1385144 | $1584887 |
|  Net realized gain. | 34361455 | 70431443 | 2365581 | 5467320 |
|  Net change in unrealized appreciation (depreciation) | 35243867 | (68740895) | 3211823 | (5313775) |
|  Net increase in net assets resulting from operations | 74534373 | 8150037 | 6962548 | 1738432 |
|  DISTRIBUTIONS: |  |  |  |  |
|  Distributions to shareholders | (16785109) | (42865894) | (5079627) | (3798415) |
|  CAPITAL STOCK TRANSACTIONS: |  |  |  |  |
|  Net decrease in net assets from Fund share transactions (Note 5) | (15959030) | (6101711) | (717446) | (5712323) |
|  Net increase (decrease) in net assets | 41790234 | (40817568) | 1165475 | (7772306) |
|  NET ASSETS: |  |  |  |  |
|  Beginning of year | 416347689 | 457165257 | 59797703 | 67570009 |
|  End of year | $458137923 | $416347689 | $60963178 | $59797703 |

---

 <br> SEE NOTES TO FINANCIAL STATEMENTS

------

Tweedy, Browne Fund INC.

Financial Highlights

Tweedy, Browne International Value Fund

For a Fund share outstanding throughout each year.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Year<br>Ended<br>3/31/2026 | Year<br>Ended<br>3/31/2025 | Year<br>Ended<br>3/31/2024 | Year<br>Ended<br>3/31/2023 | Year<br>Ended<br>3/31/2022 |
|  Net asset value, beginning of year. | $27.43 | $28.79 | $27.16 | $28.14 | $29.41 |
|  Income from investment operations: |  |  |  |  |  |
|  Net investment income. | 0.55 <sup>(a)</sup> | 0.58 <sup>(a)</sup> | 0.44 <sup>(a)</sup> | 0.43 <sup>(a)</sup> | 0.37 <sup>(a)</sup> |
|  Net realized and unrealized gain on investments | 4.58 | 0.60 | 2.43 | 0.04 | 0.95 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total from investment operations | 5.13 | 1.18 | 2.87 | 0.47 | 1.32 |
|  Distributions: |  |  |  |  |  |
|  Net investment income. | (0.62) | (0.49) | (0.46) | (0.40) | (0.41) |
|  Distributions from net realized gains. | (2.79) | (2.05) | (0.78) | (1.05) | (2.18) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total distributions | (3.41) | (2.54) | (1.24) | (1.45) | (2.59) |
|  Net asset value, end of year. | $29.15 | $27.43 | $28.79 | $27.16 | $28.14 |
|  Total return<sup>(b)</sup> | 19.25% | 4.59% | 10.99% | 1.94% | 4.36% |
|  Ratios/Supplemental Data: |  |  |  |  |  |
|  Net assets, end of year (in 000s) | $4129372 | $4531995 | $5941267 | $6007224 | $6306407 |
|  Ratio of operating expenses to average net assets. | 1.44% | 1.41% | 1.39% | 1.40% | 1.34% |
|  Ratio of operating expenses to average net assets excluding waivers of expenses | 1.44% | 1.41% | 1.39% | 1.40% | 1.38% |
|  Ratio of net investment income to average net assets | 1.66 %<sup>(a)</sup> | 1.90 %<sup>(a)</sup> | 1.56 %<sup>(a)</sup> | 1.55 %<sup>(a)</sup> | 1.19 %<sup>(a)</sup> |
|  Portfolio turnover rate. | 14% | 17% | 12% | 15% | 10% |

---

(a) Includes the impact of refunded European tax reclaims. If these reclaims were not included the Net Investment Income per Share would have been $0.52, $0.53, $0.40, $0.40 and $0.35 and the Ratio of Net Investment Income to Average Net Assets would have been 1.55%, 1.75%, 1.42%, 1.44% and 1.10% for the years ending March 31, 2026, March 31, 2025, March 31, 2024, March 31, 2023 and March 31, 2022, respectively.

(b) Total return represents aggregate total return for the periods indicated.

 <br> SEE NOTES TO FINANCIAL STATEMENTS

------

Tweedy, Browne Fund INC.

Financial Highlights

Tweedy, Browne International Value Fund II - Currency Unhedged

For a Fund share outstanding throughout each year.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Year<br>Ended<br>3/31/2026 | Year<br>Ended<br>3/31/2025 | Year<br>Ended<br>3/31/2024 | Year<br>Ended<br>3/31/2023 | Year<br>Ended<br>3/31/2022 |
|  Net asset value, beginning of year. | $15.22 | $17.63 | $16.36 | $16.31 | $16.30 |
|  Income from investment operations: |  |  |  |  |  |
|  Net investment income. | 0.34 <sup>(a)</sup> | 0.44 <sup>(a)</sup> | 0.34 <sup>(a)</sup> | 0.27 <sup>(a)</sup> | 0.18 <sup>(a)</sup> |
|  Net realized and unrealized gain (loss) on investments | 2.52 | (0.19) | 1.23 | 0.04 <sup>(b)</sup> | 0.01 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total from investment operations | 2.86 | 0.25 | 1.57 | 0.31 | 0.19 |
|  Distributions: |  |  |  |  |  |
|  Net investment income. | (0.41) | (0.37) | (0.30) | (0.26) | (0.18) |
|  Distributions from net realized gains. | (0.93) | (2.29) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total distributions | (1.34) | (2.66) | (0.30) | (0.26) | (0.18) |
|  Net asset value, end of year. | $16.74 | $15.22 | $17.63 | $16.36 | $16.31 |
|  Total return<sup>(c)</sup> | 19.04% | 2.15% | 9.74% | 1.99% | 1.13% |
|  Ratios/Supplemental Data: |  |  |  |  |  |
|  Net assets, end of year (in 000s) | $156993 | $180973 | $357050 | $455983 | $520524 |
|  Ratio of operating expenses to average net assets. | 1.45% | 1.42% | 1.38% | 1.39% | 1.34% |
|  Ratio of operating expenses to average net assets excluding recoupments and/or waivers/ reimbursements of expenses | 1.53% | 1.43% | 1.39% | 1.39% | 1.37% |
|  Ratio of net investment income to average net assets | 1.56 %<sup>(a)</sup> | 2.16 %<sup>(a)</sup> | 1.85 %<sup>(a)</sup> | 1.68 %<sup>(a)</sup> | 1.07 %<sup>(a)</sup> |
|  Portfolio turnover rate. | 15% | 13% | 13% | 11% | 8% |

---

(a) Includes the impact of refunded European tax reclaims. If these reclaims were not included the Net Investment Income per Share would have been $0.32, $0.39, $0.32, $0.26 and $0.17 and the Ratio of Net Investment Income to Average Net Assets would have been 1.43%, 1.90%, 1.71%, 1.60% and 1.02% for the years ending March 31, 2026, March 31, 2025, March 31, 2024, March 31, 2023 and March 31, 2022, respectively.

(b) The amount per share shown does not correlate with net realized and unrealized gain/(loss) on investments for the year due to the timing of purchases and sales of the Fund's shares in relation to the fluctuating market values of the Fund's investments.

(c) Total return represents aggregate total return for the periods indicated.

 <br> SEE NOTES TO FINANCIAL STATEMENTS

------

Tweedy, Browne Fund INC.

Financial Highlights

Tweedy, Browne Value Fund

For a Fund share outstanding throughout each year.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Year<br>Ended<br>3/31/2026 | Year<br>Ended<br>3/31/2025 | Year<br>Ended<br>3/31/2024 | Year<br>Ended<br>3/31/2023 | Year<br>Ended<br>3/31/2022 |
|  Net asset value, beginning of year. | $17.89 | $19.54 | $18.25 | $19.10 | $20.38 |
|  Income from investment operations: |  |  |  |  |  |
|  Net investment income. | 0.22 | 0.30 <sup>(a)</sup> | 0.21 <sup>(a)</sup> | 0.18 <sup>(a)</sup> | 0.17 <sup>(a)</sup> |
|  Net realized and unrealized gain on investments | 3.05 | 0.04 | 2.47 | 0.10 | 0.93 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total from investment operations | 3.27 | 0.34 | 2.68 | 0.28 | 1.10 |
|  Distributions: |  |  |  |  |  |
|  Net investment income. | (0.27) | (0.24) | (0.20) | (0.18) | (0.18) |
|  Distributions from net realized gains. | (0.48) | (1.75) | (1.19) | (0.95) | (2.20) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total distributions | (0.75) | (1.99) | (1.39) | (1.13) | (2.38) |
|  Net asset value, end of year. | $20.41 | $17.89 | $19.54 | $18.25 | $19.10 |
|  Total return<sup>(b)</sup> | 18.48% | 2.11% | 15.35% | 1.74% | 5.35% |
|  Ratios/Supplemental Data: |  |  |  |  |  |
|  Net assets, end of year (in 000s) | $458138 | $416348 | $457165 | $424621 | $440823 |
|  Ratio of operating expenses to average net assets. | 1.44% | 1.40% | 1.38% | 1.40% | 1.34% |
|  Ratio of operating expenses to average net assets excluding waiver and/or reimbursements of expenses | 1.45% | 1.40% | 1.39% | 1.40% | 1.39% |
|  Ratio of net investment income to average net assets | 1.12% | 1.49 %<sup>(a)</sup> | 1.08 %<sup>(a)</sup> | 0.99 %<sup>(a)</sup> | 0.77 %<sup>(a)</sup> |
|  Portfolio turnover rate. | 16% | 18% | 21% | 20% | 20% |

---

(a) Includes the impact of refunded European tax reclaims. If these reclaims were not included the Net Investment Income per Share would have been $0.27, $0.19, $0.17 and $0.16 and the Ratio of Net Investment Income to Average Net Assets would have been 1.36%, 0.98%, 0.93% and 0.73% for the years ending March 31, 2025, March 31, 2024, March 31, 2023 and March 31, 2022, respectively.

(b) Total return represents aggregate total return for the periods indicated.

 <br> SEE NOTES TO FINANCIAL STATEMENTS

------

Tweedy, Browne Fund INC.

Financial Highlights

Tweedy, Browne Worldwide High Dividend Yield Value Fund

For a Fund share outstanding throughout each year.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Year<br>Ended<br>3/31/2026 | Year<br>Ended<br>3/31/2025 | Year<br>Ended<br>3/31/2024 | Year<br>Ended<br>3/31/2023 | Year<br>Ended<br>3/31/2022 |
|  Net asset value, beginning of year. | $5.79 | $5.97 | $5.57 | $6.37 | $7.76 |
|  Income from investment operations: |  |  |  |  |  |
|  Net investment income. | 0.14 <sup>(a)</sup> | 0.15 <sup>(a)</sup> | 0.14 <sup>(a)</sup> | 0.14 <sup>(a)</sup> | 0.19 <sup>(a)</sup> |
|  Net realized and unrealized gain (loss) on investments | 0.54 | 0.02 | 0.47 | (0.32) | (0.02) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total from investment operations | 0.68 | 0.17 | 0.61 | (0.18) | 0.17 |
|  Distributions: |  |  |  |  |  |
|  Net investment income. | (0.15) | (0.14) | (0.13) | (0.14) | (0.20) |
|  Distributions from net realized gains. | (0.36) | (0.21) | (0.08) | (0.48) | (1.36) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total distributions | (0.51) | (0.35) | (0.21) | (0.62) | (1.56) |
|  Net asset value, end of year. | $5.96 | $5.79 | $5.97 | $5.57 | $6.37 |
|  Total return<sup>(b)</sup> | 11.63% | 3.14% | 11.40% | (2.30)% | 1.97% |
|  Ratios/Supplemental Data: |  |  |  |  |  |
|  Net assets, end of year (in 000s) | $60963 | $59798 | $67570 | $69870 | $83978 |
|  Ratio of operating expenses to average net assets. | 1.44% | 1.41% | 1.39% | 1.38% | 1.34% |
|  Ratio of operating expenses to average net assets excluding waiver and/or reimbursements of expenses | 1.71% | 1.51% | 1.50% | 1.48% | 1.48% |
|  Ratio of net investment income to average net assets | 2.17 %<sup>(a)</sup> | 2.47 %<sup>(a)</sup> | 2.56 %<sup>(a)</sup> | 2.46 %<sup>(a)</sup> | 2.26 %<sup>(a)</sup> |
|  Portfolio turnover rate. | 18% | 7% | 16% | 11% | 16% |

---

(a) Includes the impact of refunded European tax reclaims. If these reclaims were not included the Net Investment Income per Share would have been $0.14, $0.14, $0.12, $0.13 and $0.17 and the Ratio of Net Investment Income to Average Net Assets would have been 2.11%, 2.37%, 2.30%, 2.21% and 2.04% for the years ending March 31, 2026, March 31, 2025, March 31, 2024, March 31, 2023 and March 31, 2022, respectively.

(b) Total return represents aggregate total return for the periods indicated.

 <br> SEE NOTES TO FINANCIAL STATEMENTS

------

Tweedy, Browne Fund INC.

Notes to Financial Statements

1. Organization

Tweedy, Browne Fund Inc. (the "Company") is an open-end management investment company registered with the United States Securities and Exchange Commission ("SEC") under the Investment Company Act of 1940, as amended (the "1940 Act"). The Company was organized as a Maryland corporation on January 28, 1993. Tweedy, Browne International Value Fund ("International Value Fund"), Tweedy, Browne International Value Fund II – Currency Unhedged ("International Value Fund II – Currency Unhedged"), Tweedy, Browne Value Fund ("Value Fund"), and Tweedy, Browne Worldwide High Dividend Yield Value Fund ("Worldwide High Dividend Yield Value Fund") (each a "Fund" and together, the "Funds") are each a diversified series of the Company.

The Funds commenced operations as follows:

---

| | |
|:---|:---|
|  International Value Fund | 06/15/93 |
|  International Value Fund II - Currency Unhedged | 10/26/09 |
|  Value Fund | 12/08/93 |
|  Worldwide High Dividend Yield Value Fund | 09/05/07 |

---

International Value Fund and International Value Fund II – Currency Unhedged seek long-term capital growth by investing primarily in foreign equity securities that Tweedy, Browne Company LLC (the "Investment Adviser") believes are undervalued but may invest in U.S. securities to a limited extent. Value Fund seeks long-term capital growth by investing primarily in U.S. and foreign equity securities that the Investment Adviser believes are undervalued. Worldwide High Dividend Yield Value Fund seeks long-term capital growth by investing primarily in U.S. and foreign equity securities that the Investment Adviser believes to have above-average dividend yields and valuations that are reasonable.

2. Significant Accounting Policies

The Funds are investment companies and, accordingly, follow the investment company accounting and reporting guidance of the Financial Accounting Standards Board Accounting Standards Codification Topic 946 Financial Services – Investment Companies, which is part of U.S. generally accepted accounting principles ("U.S. GAAP"). The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates. The following is a summary of significant accounting policies consistently followed by the Funds in the preparation of their financial statements.

**Portfolio Valuation.** Under normal circumstances, portfolio securities and other assets listed on a U.S. national securities exchange, comparable foreign securities exchange or through any system providing for contemporaneous

publication of actual prices (and not subject to restrictions against sale by the Fund on such exchange or system) are valued at the last quoted sale price at or prior to the close of regular trading on the New York Stock Exchange or, if applicable, the NASDAQ Official Closing Price ("NOCP"), unless, in the view of the Valuation Designee (the Investment Adviser has been appointed "Valuation Designee" by the Company's Board of Directors), such price is not reliable, or there is significant market movement that calls for application of fair value factors provided by a third party, as described below. Under normal circumstances, portfolio securities and other assets that are readily marketable but for which there are no reported sales on the valuation date, whether because they are not traded in a system providing for same day publication of sales or because there were no sales reported on such date, are generally valued at the mean between the last asked price and the last bid price prior to the close of regular trading, unless, in the view of the Valuation Designee, such price is not reliable. Forward exchange contracts are valued at the forward rate. Securities and other assets for which current market quotations are not readily available, and those securities which are generally not readily marketable due to significant legal or contractual restrictions, are valued at fair value as determined in good faith by the Valuation Designee pursuant to the Company's Valuation Policies and Procedures, which were approved by the Company's Board of Directors. Securities and other assets for which the most recent market quotations may not be reliable (including because the last sale price does not reflect current market value at the time of valuing the Fund's assets due to developments since such last price) may be valued at fair value if the Valuation Designee concludes that fair valuation will likely result in a more accurate net asset valuation. The Company has retained a third-party service provider that, under certain circumstances (including certain market movements) selected by the Company, provides fair value pricing for international equity securities whose principal markets are no longer open when the Funds calculate their net asset values. This means that a Fund's net asset value may be based, at least in part, on prices other than those determined as of the close of the principal market in which such assets trade. The Funds' use of fair value pricing may cause the net asset value of a Fund's shares to differ from the net asset value that would be calculated using market quotations. Fair value pricing involves subjective judgments, and it is possible that the fair value determined for a security may be materially different than the value that could be realized upon the sale of that security. Under normal circumstances, debt securities purchased with a remaining maturity of more than 60 days are valued through pricing obtained by pricing services approved by the Valuation Designee. Debt securities purchased with a remaining maturity of 60 days or less are valued at amortized cost, unless the Valuation Designee determines, in good faith, that such value does not represent fair value, in which case the securities will be valued in the same manner as debt securities

------

Tweedy, Browne Fund INC.

Notes to Financial Statements

with a remaining maturity in excess of 60 days or otherwise fair valued. Investments in open-end mutual funds are valued at net asset value (NAV) except that stable NAV money funds held in a cash sweep vehicle will generally be priced at cost ($1).

**Fair Value Measurements.** The inputs and valuation techniques used to determine fair value of the Funds' investments are summarized into three levels as described in the hierarchy below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| • Level 1 – | quoted prices in active markets for identical securities |
| • Level 2 – | other significant observable inputs (including quoted prices for similar securities, interest rates, credit risk, etc.) |
| • Level 3 – | significant unobservable inputs (including a Fund's own assumptions in determining the fair value of investments) |

---

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a summary of the inputs used to value each Fund's assets carried at fair value as of March 31, 2026. See each Fund's respective Portfolio of Investments for details on portfolio holdings.

---

| | | | | |
|:---|:---|:---|:---|:---|
| International Value Fund | Total<br> Value at<br>March 31, 2026 | Level 1<br> Quoted<br> Price | Level 2<br> Other<br> Significant<br>Observable<br>Inputs | Level 3<br>Significant<br>Unobservable<br>Inputs |
|  Investments in Securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Affiliated Exchange Traded Fund | $42127811 | $42127811 | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; Common Stocks. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Belgium | 24522642 |  | 24522642 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; China | 43960288 |  | 43960288 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Czech Republic | 2470531 |  | 2470531 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Finland | 63455272 |  | 63455272 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; France | 366938604 |  | 366938604 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Germany | 285772025 |  | 285772025 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hong Kong | 107632976 |  | 107632976 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Japan | 383151986 |  | 383151986 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Netherlands | 179711432 |  | 179711432 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Singapore | 134030824 |  | 134030824 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; South Korea | 223675385 | 9244079 | 214431306 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sweden | 111717786 | 30522795 | 81194991 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Switzerland | 499378253 |  | 499378253 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Kingdom | 657785463 | 268635984 | 389149479 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All Other Countries | 535198906 | 535198906 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Preferred Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chile | 40230856 | 40230856 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Croatia | 2806514 |  | 2806514 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Registered Investment Company | 228134165 | 228134165 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bill | 49959845 |  | 49959845 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments in Securities | 3982661564 | 1154094596 | 2828566968 |  |
|  Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Asset |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation of forward exchange contracts | 80550869 |  | 80550869 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Liability |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation of forward exchange contracts | (4150922) |  | (4150922) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total | $4059061511 | $1154094596 | $2904966915 | $— |

---

------

Tweedy, Browne Fund INC.

Notes to Financial Statements

---

| | | | | |
|:---|:---|:---|:---|:---|
| International Value Fund II - Currency Unhedged | Total<br> Value at<br>March 31, 2026 | Level 1 Quoted<br>Price | Level 2<br> Other<br> Significant<br>Observable<br>Inputs | Level 3<br>Significant<br>Unobservable<br>Inputs |
|  Investments in Securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Belgium | $3766308 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $3766308 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; China | 1342056 |  | 1342056 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Finland | 5702178 |  | 5702178 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; France | 17928349 |  | 17928349 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Germany | 6218111 |  | 6218111 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hong Kong | 3425623 |  | 3425623 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Japan | 25840595 |  | 25840595 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Netherlands | 4268188 |  | 4268188 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Singapore | 4943220 |  | 4943220 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; South Korea | 8085303 | 371719 | 7713584 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sweden | 3843933 | 1373390 | 2470543 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Switzerland | 12970075 |  | 12970075 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Kingdom | 29799165 | 14050805 | 15748360 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All Other Countries | 18973599 | 18973599 |  |  |
|  Preferred Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chile | 1831341 | 1831341 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Germany | 688381 |  | 688381 |  |
|  Registered Investment Company | 690809 | 690809 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total | $150317234 | $37291663 | $113025571 | $— |
| Value Fund | Total Value at<br>March 31, 2026 | Level 1 Quoted<br>Price | Level 2 Other<br>Significant<br>Observable<br>Inputs | Level 3<br>Significant<br>Unobservable<br>Inputs |
|  Investments in Securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Belgium | $6424500 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $6424500 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; China | 11904000 |  | 11904000 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Finland | 5998747 |  | 5998747 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; France | 53353795 |  | 53353795 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Germany | 19259026 |  | 19259026 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hong Kong | 9598733 |  | 9598733 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Japan | 41420425 |  | 41420425 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Netherlands | 11566529 |  | 11566529 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Singapore | 10603837 |  | 10603837 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; South Korea | 22062850 | 928429 | 21134421 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sweden | 6967554 | 2823967 | 4143587 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Switzerland | 34844023 | 11077398 | 23766625 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Kingdom | 67704028 | 32262160 | 35441868 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All Other Countries | 124432022 | 124432022 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Registered Investment Company | 18406415 | 18406415 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investment | 2003326 | 2003326 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bill | 3977029 |  | 3977029 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments in Securities | 450526839 | 191933717 | 258593122 |  |
|  Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Asset |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation of forward exchange contracts | 6127834 |  | 6127834 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Liability |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation of forward exchange contracts | (276252) |  | (276252) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total | $456378421 | $191933717 | $264444704 | $— |

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Tweedy, Browne Fund INC.

Notes to Financial Statements

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| | | | | |
|:---|:---|:---|:---|:---|
| Worldwide High Dividend Yield Value Fund | Total<br> Value at<br>March 31, 2026 | Level 1<br> Quoted<br> Price | Level 2<br> Other<br> Significant<br>Observable<br> Inputs | Level 3<br> Significant<br>Unobservable<br>Inputs |
|  Investments in Securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Belgium | $875390 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $875390 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; China | 1782733 |  | 1782733 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Finland | 2069425 |  | 2069425 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; France | 7319027 |  | 7319027 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Germany | 2625573 |  | 2625573 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hong Kong | 1411509 |  | 1411509 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Japan | 6108949 |  | 6108949 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Netherlands | 2567970 |  | 2567970 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Singapore | 2812302 |  | 2812302 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; South Korea | 1036604 |  | 1036604 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sweden | 1495486 | 315480 | 1180006 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Switzerland | 9207428 |  | 9207428 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Kingdom | 13107520 | 5641315 | 7466205 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All Other Countries | 6046590 | 6046590 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Registered Investment Company | 1915515 | 1915515 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total | $60382021 | $13918900 | $46463121 | $— |

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**Foreign Currency.** The books and records of the Funds are maintained in U.S. dollars. Foreign currencies, investments and other assets and liabilities are translated into U.S. dollars at the exchange rates prevailing at the end of the period, and purchases and sales of investment securities, income and expenses are translated on the respective dates of such transactions. Unrealized gains and losses from investments in securities that result from changes in foreign currency exchange rates, have been included in net unrealized appreciation/depreciation of securities. All other unrealized gains and losses that result from changes in foreign currency exchange rates have been included in net unrealized appreciation/depreciation of foreign currencies and net other assets. Net realized foreign currency gains and losses resulting from changes in exchange rates include foreign currency gains and losses between trade date and settlement date on investments, securities transactions, foreign currency transactions and the difference between the amounts of interest and dividends recorded on the books of a Fund and the amount actually received. The portion of foreign currency gains and losses related to fluctuation in the exchange rates between the initial purchase trade date and subsequent sale trade date is included in realized gains and losses on investment securities sold.

**Forward Exchange Contracts.** International Value Fund and Value Fund enter into forward exchange contracts for hedging purposes in order to reduce their exposure to fluctuations in foreign currency exchange on their portfolio holdings. Forward exchange contracts are valued at the forward rate and are marked-to-market daily. The change in market value is recorded by each Fund as an unrealized gain or loss on the Fund's Statement of Operations. When the contract is closed, each Fund records a realized gain or loss on the Statement of Operations equal to the difference between

the value of the contract at the time that it was opened and the value of the contract at the time that it was closed. The difference between the value of a Fund's open contracts at March 31, 2026 and the value of those contracts at the time they were opened is included on the Statement of Assets and Liabilities as unrealized appreciation of forward exchange contracts (for contracts with unrealized gains) or unrealized depreciation of forward exchange contracts (for contracts with unrealized losses). A Fund may be required to post collateral with respect to certain "non-deliverable" forward exchange contracts in an unrealized loss position, and may receive collateral from the counterparty for certain non-deliverable forward exchange contracts in an unrealized gain position. Collateral is usually in the form of cash or U.S. Treasury Bills. Daily movement of collateral is subject to minimum threshold amounts. Collateral posted by a Fund is held in a segregated account at the Fund's custodian bank, and is reported on the Statement of Assets and Liabilities as Cash segregated as collateral. Collateral received by a Fund is held in escrow in the Fund's custodian bank, and is not reported on the Fund's Statement of Assets and Liabilities, but would be disclosed in Note 9.

The use of forward exchange contracts does not eliminate fluctuations in the underlying prices of the International Value Fund's and Value Fund's investment securities, but it does establish a rate of exchange that can be achieved in the future. Although forward exchange contracts limit the risk of loss due to a decline in the value of the hedged currency, they also limit any potential gain that might result should the value of the hedged currency increase. In addition, the International Value Fund and Value Fund could be exposed to risks if the counterparties to the contracts are unable to meet the terms of their contracts.

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Tweedy, Browne Fund INC.

Notes to Financial Statements

**Securities Transactions and Investment Income.** Securities transactions are recorded as of the trade date. Realized gains and losses from securities transactions are recorded on the identified cost basis. Dividend income and distributions to shareholders are recorded on the ex-dividend date. In the case of certain foreign securities, dividend income is recorded as soon after the ex-date as the Funds become aware of such dividend. Interest income and expenses are recorded on an accrual basis.

**Foreign Taxes.** The Funds may be subject to foreign taxes on dividend and interest income, gains on investments or currency purchase/repatriation, all or a portion of which may be recoverable. Each Fund applies for refunds where available. The Funds will accrue such taxes and recoveries as applicable, based on their current interpretation of tax rules and regulations that exist in the markets in which they invest.

As a result of several court rulings in certain European countries, the Funds may also file withholding tax reclaims in certain jurisdictions to recover all or a portion of amounts withheld in prior periods that may now be reclaimable. Any payments received on such withholding tax reclaims are included in Other Income in the Statements of Operations and are recorded when the amount is known and there are no significant uncertainties on collectability.

**Dividends and Distributions to Shareholders.** Dividends from net investment income, if any, will be declared and paid annually for International Value Fund, International Value Fund II – Currency Unhedged, and Value Fund and semi-annually for Worldwide High Dividend Yield Value Fund. Distributions from realized capital gains after utilization of capital loss carryforwards, if any, will be declared and paid annually for each of the Funds. Additional distributions of net investment income and capital gains from the Funds may be made at the discretion of the Board of Directors in order to avoid the application of a 4% non-deductible federal excise tax on certain undistributed amounts of ordinary income and capital gains. Income dividends and capital gain distributions are determined in accordance with income tax regulations which may differ from U.S. GAAP. These differences are primarily due to differing treatments of income and gains on various investment securities held by the Funds, timing differences and differing characterization of distributions made by the Funds.

**Federal Income Taxes.** Each Fund has qualified and intends to continue to qualify as a regulated investment company by complying with the requirements of the U.S. Internal Revenue Code of 1986, as amended (the "Code"), applicable to regulated investment companies and by distributing substantially all of its taxable income to its shareholders. Therefore, no federal income tax provision is required.

The Funds are not aware of any events that are reasonably possible to occur in the next twelve months that would result in the amounts of any unrecognized tax benefits significantly

increasing or decreasing for the Funds. However, the Funds' conclusions may be subject to future review based on changes in accounting standards or tax laws and regulations or the interpretation thereof. In addition, utilization of any capital loss carryforwards could be subject to limitations imposed by the Code related to share ownership changes. Each of the Funds' tax positions for the tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service, state departments of revenue and by foreign tax authorities.

The Funds adopted FASB Accounting Standards Update 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures (ASU 2023-09). This is meant to enhance income tax disclosures, including disclosure of income taxes paid disaggregated by jurisdiction. Management has evaluated the impact of the ASU and concluded that it has not made a material impact to the Funds' financial statements. Adoption of the new standard impacted financial statement disclosure only and did not affect any Funds' financial position or the results of their operations.

**Expenses.** Expenses directly attributable to each Fund as a diversified series of the Company are charged to such Fund. Other expenses of the Company are allocated to each series based on the average net assets of each series or other equitable allocation method.

**Segment Reporting.** The Funds have adopted the Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures. The update is limited to disclosure requirements and does not impact the Funds financial position or results of operations. The Funds operate as a single operating segment, which is an investment portfolio. The Management Committee of the Funds' Investment Adviser serves as the Chief Operating Decision Maker ("CODM"). The CODM monitors the operating results of the Funds as a whole and the Funds' long-term strategic asset allocation which is predetermined in accordance with the terms of its respective prospectus, based on a defined investment strategy executed by the Funds Investment Adviser.

3. Investment Advisory Fee, Other Related Party Transactions and Administration Fee

The Company, on behalf of each Fund, has entered into separate investment advisory agreements with the Investment Adviser (each, an "Advisory Agreement"). Under the Advisory Agreement with respect to International Value Fund, International Value Fund pays the Investment Adviser a fee at the annual rate of 1.25% on the Fund's average daily net assets up to $10.3 billion, and 0.75% on the remaining amount, if any. Under the Advisory Agreements with respect to each of International Value Fund II – Currency Unhedged, Value Fund and Worldwide High Dividend Yield Value Fund, each Fund pays the Investment Adviser a fee at the annual rate of 1.25% of the Fund's average

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Tweedy, Browne Fund INC.

Notes to Financial Statements

daily net assets. The fee is payable monthly, provided that each Fund makes interim payments as may be requested by the Investment Adviser of up to 75% of the amount of the fee then accrued on the books of the Fund and unpaid. For the year ended March 31, 2026, the Investment Adviser earned $54,941,178, $2,218,209, $5,513,543 and $796,126 in fees, prior to any waivers and/or reimbursements, from International Value Fund, International Value Fund II –Currency Unhedged, Value Fund and Worldwide High Dividend Yield Value Fund, respectively.

With respect to International Value Fund, the Investment Adviser has entered into a voluntary fee waiver agreement with the Fund pursuant to which the Investment Adviser is entitled to receive investment advisory fees from the Fund at an annual rate of 1.25% on the first $6 billion of the Fund's average daily net assets, 0.80% on the next $1 billion of the Fund's average daily net assets over $6 billion up to $7 billion, 0.70% on the next $1 billion of the Fund's average daily net assets over $7 billion up to $8 billion, and 0.60% on the remaining amount, if any, of average daily net assets over $8 billion. This arrangement with International Value Fund will remain in place at least until July 31, 2026. For the year ended March 31, 2026, the Investment Adviser did not waive any fees from International Value Fund pursuant to this voluntary fee waiver agreement. Additionally, the Investment Adviser has agreed to waive a portion of the advisory fee for the International Value Fund to the extent of any advisory fee charged in connection with the portfolio of the Fund's assets that are allocated to certain Tweedy, Browne affiliated funds, including exchange-traded funds. Such waiver shall continue until January 31, 2027. For the fiscal year ended March 31, 2026, the Investment Adviser waived $27,039 in fees from International Value Fund attributable to the investment in the Tweedy, Browne International Insider + Value ETF.

With respect to International Value Fund II – Currency Unhedged, Value Fund and Worldwide High Dividend Yield Value Fund, the Investment Adviser has voluntarily agreed to waive a portion of each Fund's investment advisory fees and/or reimburse a portion of each Fund's expenses to the extent necessary to keep each Fund's expense ratio in line with the expense ratio of International Value Fund. (For purposes of this calculation, each Fund's acquired fund fees and expenses, brokerage costs, interest, taxes and extraordinary expenses are disregarded, and each Fund's expense ratio is rounded to two decimal points.) This arrangement will remain in place at least until July 31, 2026. For the year ended March 31, 2026, the Investment Adviser waived and/or reimbursed $153,944, $33,033 and $170,414 in fees from International Value Fund II – Currency Unhedged Fund, Value Fund and Worldwide High Dividend Yield Value Fund, respectively. No waivers are subject to recoupment by the Investment Adviser.

The Company pays the Investment Adviser for certain shareholder servicing and administration services provided to the Funds at an annual amount of $475,000, which is allocated pro-rata based on the relative average net assets of the Funds.

No officer, director or employee of the Investment Adviser, the Funds' administrator, The Bank of New York Mellon ("BNY") or any parent or subsidiary of those corporations receives any compensation from the Company for serving as a director or officer of the Company. The Company pays each Independent Director $153,000 annually, in quarterly increments of $38,250, plus out-of-pocket expenses for their services as directors. The Lead Independent Director receives an additional annual fee of $32,000 and the Audit Committee Chair receives an additional annual fee of $10,250. These fees are allocated pro-rata based on the relative average net assets of the Funds.

The Company, on behalf of the Funds, has entered into an administration agreement (the "Administration Agreement") with BNY, a subsidiary of The Bank of New York Mellon Corporation. Under the Administration Agreement, the Company pays BNY an administration fee and a fund accounting fee computed daily and payable monthly at the following annual rates of the aggregate average daily net assets of the Funds, allocated according to each Fund's net assets:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Up to<br> $1 Billion | Between<br>$1 Billion<br>and<br> $5 Billion | Between<br>$5 Billion<br>and<br> $10 Billion | Exceeding<br>$10 Billion |
|  Administration Fees | 0.0300% | 0.0180% | 0.0100% | 0.0090% |
|  Accounting Fees | 0.0075% | 0.0060% | 0.0050% | 0.0040% |

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BNY, serves as the Funds' custodian pursuant to a custody agreement. BNY Investment Servicing (US) Inc., a subsidiary of The Bank of New York Mellon Corporation, serves as the Funds' transfer agent.

AMG Distributors, Inc., an affiliate of the Investment Adviser, serves as the distributor to the Funds. The Investment Adviser pays all distribution-related expenses. No distribution fees are paid by the Funds.

At March 31, 2026, excluding unaffiliated platforms that hold shares of the Funds via omnibus accounts, the Funds are aware of two shareholders who owned 13.5% of International Value Fund II – Currency Unhedged's outstanding shares; three shareholders who collectively owned 41.3% of Value Fund's outstanding shares; and three shareholders who collectively owned 41.0% of Worldwide High Dividend Yield Value Fund's outstanding shares. Significant transactions by these shareholders could have an impact on each respective Fund.

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Tweedy, Browne Fund INC.

Notes to Financial Statements

4. Securities Transactions

The 1940 Act defines "affiliated companies" to include securities in which a fund owns 5% or more of the outstanding voting shares of an issuer. In addition, issuers may be deemed affiliated if they are advised by the same investment advisor as the fund or are otherwise under common control. The following chart lists the issuers owned by International Value Fund that may be deemed "affiliated companies," including those meeting the ownership threshold as well as those advised by the Fund's Investment Advisor, and reflects transactions that occurred in the securities of such issuers during the year ended March 31, 2026:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Shares Held <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;at 3/31/25  | Name of<br>Issuer† | Value at<br>3/31/25 | Purchase<br> Cost | Sales<br>Proceeds | Value at<br>3/31/26 | Shares<br>Held at<br>3/31/26 | Dividend<br>Income 4/1/25<br>to 3/31/26 | Net Realized Gain<br>(Loss) 4/1/25<br>3/31/26 | Change in<br> Net Unrealized<br>Appreciation<br>4/1/25<br> to 3/31/26 |
| 4130268 | CVS Group PLC | $53524680 | $793423 | $– $| 62256351 | 4180528 | $457852 | $– $| 7938248 |
| 15698026 | Johnson Service Group PLC | 26989287 | 16053398 | – | 40377678 | 23996321 | 1059212 | – | (2665007) |
| 251390 | Lassonde Industries Inc, Class A | 36818133 |  | – | 40982938 | 251390 | 825291 | – | 4164805 |
| 63203 | Phoenix Mecano AG, Registered | 31258367 |  | – | 32896520 | 63203 | 1464103 | – | 1638153 |
|  | Tweedy Browne International Insider + Value ETF |  | 42433644 | – | 42127811 | 3669670 |  | – | (305833) |
| 16292379 | Vertu Motors PLC | 11093612 |  | – | 12439676 | 16292379 | 450573 | – | 1346064 |
|  |  | $159684079 | $59280465 | $– $| 231080974 |  | $4257031 | $– $| 12116430 |

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† Issuer countries: United Kingdom, United Kingdom, Canada, Switzerland, United States and United Kingdom, respectively.

None of the other Funds owned 5% or more of the outstanding voting shares of any issuer.

The cost of purchases and proceeds from sales of investment securities, excluding short-term investments and in-kind transactions, for the year ended March 31, 2026, are as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | International Value<br>Fund | International Value<br>Fund II -<br> Currency<br>Unhedged | Value<br>Fund | Worldwide High<br>Dividend Yield<br>Value Fund |
|  Purchases | $564502315 | $24699386 | $66840850 | $10524641 |
|  Sales | $1694777909 | $76026273 | $83346622 | $11339406 |

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5. Capital Stock

The Company is authorized to issue 2.0 billion shares of $0.0001 par value capital stock, of which 600,000,000, 600,000,000, 400,000,000 and 400,000,000 shares have been designated as shares of International Value Fund, International Value Fund II – Currency Unhedged, Value Fund and Worldwide High Dividend Yield Value Fund, respectively. Changes in shares outstanding were as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Year Ended<br> March 31, 2026 | Year Ended<br> March 31, 2026 | Year Ended<br> March 31, 2025 | Year Ended<br> March 31, 2025 |
| International Value Fund | Shares | Amount | Shares | Amount |
| Sold | 12501885 | $369917360 | 33138422 | $915657911 |
| Reinvested | 15442164 | 431454072 | 15522268 | 403578977 |
|  Redeemed | (51463874) | (1503660589) | (89839983) | (2485140430) |
|  Net Decrease | (23519825) | $(702289157) | (41179293) | $(1165903542) |

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Tweedy, Browne Fund INC.

Notes to Financial Statements

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Year Ended<br> March 31, 2026 | Year Ended<br> March 31, 2026 | Year Ended<br> March 31, 2025 | Year Ended<br> March 31, 2025 |
| International Value Fund II – Currency Unhedged | Shares | Amount | Shares | Amount |
| Sold | 1167105 | $18765647 | 3769322 | $58600244 |
|  Reinvested | 606709 | 9871161 | 1804683 | 26113763 |
|  Redeemed | (4292089) | (71086549) | (13930431) | (227081669) |
| Net Decrease | (2518275) | $(42449741) | (8356426) | $(142367662) |
| Value Fund | Shares | Amount | Shares | Amount |
| Sold | 1604955 | $31326591 | 1883182 | $35648215 |
| Reinvested | 817130 | 16007582 | 2404492 | 41429392 |
|  Redeemed | (3253925) | (63293203) | (4403433) | (83179318) |
|  Net Decrease | (831840) | $(15959030) | (115759) | $(6101711) |
| Worldwide High Dividend Yield Value Fund | Shares | Amount | Shares | Amount |
| Sold | 493826 | $3037091 | 1446029 | $8156303 |
| Reinvested | 793447 | 4810586 | 621013 | 3493998 |
|  Redeemed | (1395291) | (8565123) | (3044476) | (17362624) |
|  Net Decrease | (108018) | $(717446) | (977434) | $(5712323) |

---

6. Liquidity

**ReFlow Fund LLC** — The Funds may participate in the ReFlow Fund LLC liquidity program ("ReFlow"), which is designed to provide an alternative liquidity source for funds experiencing redemptions. In order to pay cash to shareholders who redeem their shares on a given day, a fund typically must hold cash in its portfolio, liquidate portfolio securities, or borrow money. ReFlow provides participating funds with another source of cash by standing ready to purchase shares from a fund up to the amount of the fund's net redemptions on a given day, cumulatively limited to the lesser of 3% of the outstanding voting shares of a fund, or a total investment amount of $50,000,000 in any one fund at any one time. A fund is not guaranteed to receive cash from ReFlow on any given day as the allocation of ReFlow's cash is based on the results of ReFlow's automated daily auction process among participating mutual funds. Following purchases of fund shares, ReFlow then generally redeems those shares (in cash or in-kind) when the fund experiences net sales, at the end of a maximum holding period, currently eight days, determined by ReFlow, or at other times at ReFlow's discretion. In return for this service, the Fund will pay a fee to ReFlow at a rate determined by a daily auction with other participating mutual funds. While ReFlow holds fund shares, it will have the same rights and privileges with respect to those shares as any other shareholder.

During the year ended March 31, 2026, the following Funds utilized ReFlow. The shares ReFlow subscribed to and redemptions-in-kind were as follows:

---

| | | | |
|:---|:---|:---|:---|
| Fund | Shares ReFlow Subscribed to | Redemptions-in-kind | Service Fees |
|  International Value Fund | 6188325 | $165296909 | $307901 |
|  International Value Fund II - Currency Unhedged | 137965 | 2233817 | 3324 |
|  Value Fund | 1359625 | 24576577 | 37640 |
|  Worldwide High Dividend Yield Value Fund | 116150 | 666744 | 942 |

---

------

Tweedy, Browne Fund INC.

Notes to Financial Statements

7. Income Tax Information

The character of distributions paid on a tax basis during the fiscal year ended March 31, 2026 is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Distributions<br> paid from: | International<br>Value<br> Fund | International<br>Value<br> Fund II –<br>Currency<br>Unhedged | Value<br>Fund | Worldwide<br>High<br>Dividend<br>Yield<br>Value Fund |
|  Ordinary income | $85456876 | $3720283 | $6455811 | $2113823 |
|  Long-term capital gain | 384949452 | 8579616 | 10329298 | 2965804 |
|  Total Distributions | $470406328 | $12299899 | $16785109 | $5079627 |

---

The character of distributions paid on a tax basis during the fiscal year ended March 31, 2025 is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Distributions<br> paid from: | International<br>Value<br> Fund | International<br>Value<br> Fund II –<br>Currency<br>Unhedged | Value Fund | Worldwide<br>High<br>Dividend<br>Yield<br>Value Fund |
|  Ordinary income | $88383468 | $4895068 | $5134415 | $1522620 |
|  Long-term capital gain | 370128316 | 30671292 | 37731479 | 2275795 |
|  Total distributions | $458511784 | $35566360 | $42865894 | $3798415 |

---

As of March 31, 2026, the components of distributable earnings on a tax basis were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | International<br>Value<br> Fund | International<br>Value<br> Fund II –<br>Currency<br>Unhedged | Value Fund | Worldwide<br>High<br>Dividend<br>Yield<br>Value Fund |
|  Undistributed ordinary income | $12838328 | $719296 | $608994 | $— |
|  Undistributed long-term capital gain | 364034609 | 6747233 | 16790272 |  |
|  Unrealized<br> appreciation/ (depreciation) | 1616280521 | 43510495 | 157609695 | 15070349 |
|  Accumulated capital and other losses |  |  |  | (626029) |
|  Total | $1993153458 | $50977024 | $175008961 | $14444320 |

---

The Funds may have temporary or permanent book/tax differences. Permanent differences are due to tax equalization utilized. Temporary differences are due to capital loss carryforwards, mark-to-market on forward contracts, mark-to-market on passive foreign investment companies, wash sale loss deferrals and partnership transactions. Temporary differences will reverse at some time in the future. Reclassifications are recorded to the Funds' capital accounts

for any permanent tax differences to reflect income and gains available for distribution (or available capital loss carryforwards) under income tax regulations. For the year ended March 31, 2026, permanent book and tax basis differences resulting primarily from the utilization of equalization and redemption-in-kind activity were identified and reclassified among the components of each Fund's net assets as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | International<br>Value<br> Fund | International<br>Value<br>Fund II –<br>Currency<br>Unhedged | Value Fund | Worldwide<br>High<br>Dividend<br>Yield<br>Value<br>Fund |
|  Distributable earnings | $(210139311) | $(3734414) | $(21206001) | $(421262) |
|  Paid-in-capital | 210139311 | 3734414 | 21206001 | 421262 |

---

Results of operations and net assets were not affected by these reclassifications.

As of March 31, 2026, the Funds did not have any capital loss carryforwards. During the year ended March 31, 2026, the Funds did not utilize capital loss carryforwards.

Net capital and foreign currency losses incurred after October 31 and certain ordinary losses incurred after December 31 may be deferred and treated as occurring on the first day of the following fiscal year. For the year ended March 31, 2026, the Funds deferred to April 1, 2026 late year capital and ordinary losses of:

---

| | | |
|:---|:---|:---|
|  | Late Year<br>Capital Losses | Late Year<br>Ordinary Losses |
|  International Value Fund | $— | $— |
|  International Value Fund II - Currency Unhedged |  |  |
|  Value Fund |  |  |
|  Worldwide High Dividend Yield Value Fund | 626029 |  |

---

As of March 31, 2026, the aggregate cost of securities in each Fund's portfolio for federal tax purposes is as follows:

---

| | |
|:---|:---|
|  International Value Fund | $2367808226 |
|  International Value Fund II - Currency Unhedged | $106858000 |
|  Value Fund | $292995321 |
|  Worldwide High Dividend Yield Value Fund | $45320203 |

---

------

Tweedy, Browne Fund INC.

Notes to Financial Statements

The aggregate gross unrealized appreciation/depreciation and net unrealized appreciation as computed on a federal income tax basis at March 31, 2026 for each Fund is as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | Gross<br>Appreciation | Gross<br>Depreciation | Net<br>Appreciation |
|  International Value Fund | $1746456058 | $(130175537) | $1616280521 |
|  International Value Fund II - Currency Unhedged | 54321181 | (10810686) | 43510495 |
|  Value Fund | 183196550 | (25586855) | 157609695 |
|  Worldwide High Dividend Yield Value Fund | 19601484 | (4531135) | 15070349 |

---

8. Foreign Securities and Certain Other Risks

Investing in foreign securities involves additional risks beyond those associated with investing in U.S. securities. These risks, which are more pronounced in emerging markets, include changes in exchange rates and exchange rate controls (which may include suspension of the ability to transfer currency from a given country); costs incurred in conversions between currencies; non-negotiable brokerage commissions; less publicly available information; not generally being subject to uniform standards, practices and requirements with respect to accounting, auditing and financial reporting; lower trading volume and/or liquidity; delayed settlements; greater market volatility; the difficulty in enforcing obligations and contractual and other rights; less securities regulation; different tax provisions (including withholding on interest and dividends paid to a Fund); less well established contract law; war; seizure; political and social instability; and diplomatic developments.

Each Fund may invest in securities of Chinese issuers. Investments in securities of companies domiciled in the People's Republic of China ("China") involve a high degree of risk and special considerations not typically associated with investing in other foreign or emerging securities markets. Such heightened risks include, among others: (a) military conflicts; (b) an authoritarian government, which, despite reforms and privatizations of companies in certain sectors, still exercises substantial influence over many aspects of the private sector, resulting in risks of losses due to expropriation, nationalization, confiscation of assets and property, and the imposition of restrictions on foreign investments and on repatriation of capital invested; (c) less regulatory oversight of issuers, brokers and other market participants; (d) currency risks associated with the Chinese Renminbi, including possible liquidity disruptions and the interference with conversion rights; (e) tax rules; (f) less rigorous accounting, auditing and financial reporting standards and practices than international accounting standards, which may result in significant differences in the preparation of financial statements; and (g) to the extent investments are made through Stock Connect, a program that allows non-Chinese investors to invest in Chinese stocks and China A-Shares,

substantial limitations imposed by the program, including, among other things, market wide quota limitations, new technologies risks, bans on day-trading, different trading holidays, and the sudden loss of a security's eligibility to trade in the program.

Each Fund invests a significant portion of its assets in securities of issuers located in Europe. The European financial markets have experienced, and may continue to experience, severe economic and financial difficulties, including risks associated with high levels of debt and negative interest rates. Among other things, these developments have adversely affected the value and exchange rate of the Euro and other currencies, and may continue to significantly affect the economies of European countries, which in turn may have a material adverse effect on the Funds' investments in such countries, other countries that depend on European countries for significant amounts of trade or investment, or issuers with exposure to debt issued by certain European countries, particularly to the extent a Fund does not hedge its exposure to foreign currency.

Actions taken by European governments, central banks and others, including austerity measures and reforms, may not work, may result in social unrest, and may limit future growth and economic recovery or have other unintended consequences. In addition, the United Kingdom has withdrawn from the European Union, and one or more other countries may withdraw from the European Union and/or abandon the Euro, the common currency of the European Union, in the future, which would have significant implications and could negatively affect the value and liquidity of the Funds' investments.

Certain of the Fund's investments may operate in, or have dealings with, countries subject to sanctions or embargos imposed by the U.S. government, foreign governments, or the United Nations or other international organizations. For example, the ongoing conflict due to Russia's invasion of Ukraine, the ongoing conflict in the Middle East, and the rapidly evolving measures in response could be expected to have a negative impact on the economy and business activity globally (including in the countries in which the Funds invest). The severity and duration of these conflicts and their impact on global economic and market conditions are impossible to predict, and as a result, present material uncertainty and risk with respect to the Funds and their investments and operations, and the ability of the Funds to achieve their investment objectives.

The occurrence of events similar to those in recent years, such as localized wars, instability, new and ongoing pandemics (such as COVID-19), epidemics or outbreaks of infectious diseases in certain parts of the world, and catastrophic events such as fires, floods, earthquakes, tornadoes, hurricanes and global health epidemics, terrorist attacks in the U.S. and around the world, social and political discord, debt crises, sovereign debt downgrades, increasingly strained relations

------

Tweedy, Browne Fund INC.

Notes to Financial Statements

between the U.S. and a number of foreign countries, changes in trade policies, including the imposition of tariffs and retaliatory responses, new and continued political unrest in various countries, the exit or potential exit of one or more countries from the EU or the EMU, continued changes in the balance of political power among and within the branches of the U.S. government and government shutdowns, among others, may result in market volatility, may have long term effects on the U.S. and worldwide financial markets, and may cause further economic uncertainties in the U.S. and worldwide. Geopolitical events, including, for example, war with Iran, may result in heightened volatility, disrupt global energy and supply markets, and adversely impact a Fund's investments and overall performance. It is difficult to predict when similar events affecting the U.S. or global financial markets may occur, the effects that such events may have and the duration of those effects. Any such event(s) could have a significant adverse impact on the value and risk profile of the Funds.

Investments in a fund which purchases value-oriented stocks as its guiding principle involve special risks. The Funds offer investors the opportunity to invest in a diversified portfolio of securities whose market prices may be well below the stocks' intrinsic values at time of purchase. The Adviser may be wrong in its assessment of a company's value, and the stocks owned by a Fund may not reach what the Adviser believes are their true or intrinsic values. The market may not favor value-oriented stocks and may not favor equities at all, which may cause a Fund's relative performance to suffer. There may be periods during which a Fund is unable to find securities that meet its value investment criteria. If a Fund is selling investments or experiencing net subscriptions during those periods, the Fund could have a significant cash position, which could adversely impact the Fund's performance under certain market conditions and could make it more difficult for the Fund to achieve its investment objective.

9. Derivative Instruments

During the year ended March 31, 2026, International Value Fund and Value Fund had derivative exposure to forward foreign currency exchange contracts. The primary underlying risk exposure for these derivatives is foreign currency risk. International Value Fund II – Currency Unhedged and Worldwide High Dividend Yield Value Fund had no exposure to derivatives. For open contracts at March 31, 2026, see the Portfolio of Investments.

The following table summarizes the volume of the International Value and Value Funds' forward foreign currency exchange contract activity during the year ended March 31, 2026:

---

| | | |
|:---|:---|:---|
|  | International Value Fund | Value Fund |
|  Average Notional Amount Purchased | $138910207 | $6773009 |
|  Average Notional Amount Sold | $2932384402 | $205719917 |
|  Notional Amount Purchased at March 31, 2026 | $359181252 | $28697931 |
|  Notional Amount Sold at March 31, 2026 | $3836567493 | $310174153 |

---

The following table presents the value of derivatives held as of March 31, 2026, by their respective location on the Statements of Assets and Liabilities:

---

| | | | |
|:---|:---|:---|:---|
| Statement of Assets and Liabilities | Statement of Assets and Liabilities | Statement of Assets and Liabilities | Statement of Assets and Liabilities |
| Derivative | Assets Location | International Value Fund | Value Fund |
| Forward exchange contracts | Unrealized<br> appreciation of<br> forward<br> exchange<br> contracts | $80550869 | $6127834 |
| Derivative | Liabilities<br>Location | International Value Fund | Value Fund |
| Forward exchange contracts | Unrealized<br> depreciation of<br> forward<br> exchange<br> contracts | $4150922 | $276252 |

---

The following table presents the effect of derivatives on the Statements of Operations for the year ended March 31, 2026:

---

| | | | |
|:---|:---|:---|:---|
| Statement of Operations | Statement of Operations | Statement of Operations | Statement of Operations |
| Derivative | Location | International Value Fund | Value Fund |
| Forward exchange contracts | Net realized<br> gain (loss) on<br> forward<br> exchange<br> contracts | $(57445275) | $(3507284) |
| Derivative | Location | International Value Fund | Value Fund |
| Forward exchange contracts | Net change in<br> unrealized<br> appreciation<br> (depreciation)<br> of forward<br> exchange<br> contracts | $43997973 | $5798697 |

---

For financial reporting purposes, the Funds do not offset assets and liabilities across derivative types that are subject to master netting arrangements on the Statements of Assets and Liabilities.

------

Tweedy, Browne Fund INC.

Notes to Financial Statements

The following table presents derivative assets net of amounts available for offset under a master netting agreement for forward currency contracts as of March 31, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Counterparty | Derivative<br>Assets – Gross<sup>(a)</sup> | Derivatives<br>Available<br>for Offset | Collateral<br>Received | Derivative<br>Assets – Net<sup>(b)</sup> |
|  International Value Fund | International Value Fund |  |  |  |
|  NTC | $80550869 | $4150922 | $6440000 | $69959947 |
|  Value Fund | Value Fund |  |  |  |
|  NTC | 6127834 | 276252 | 360000 | 5491582 |

---

The following table presents derivative liabilities net of amounts available for offset under a master netting agreement for forward currency contracts as of March 31, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Counterparty | Derivative<br>Liabilities – Gross<sup>(a)</sup> | Derivatives<br>Available<br>for Offset | Collateral<br>Posted | Derivative<br>Liabilities – Net<sup>(c)</sup> |
|  International Value Fund | International Value Fund |  |  |  |
|  NTC | $4150922 | $4150922 | $— | $— |
|  Value Fund | Value Fund |  |  |  |
|  NTC | 276252 | 276252 |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) As presented in the Statement of Assets and Liabilities.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Net amount represents the net receivable due from counterparty in the event of default.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Net amount represents the net payable due to counterparty in the event of default.

Counterparty Abbreviations:

NTC — Northern Trust Company

10. Committed Line of Credit

The Company, acting on behalf of and for the account of each Fund, has entered into a line of credit agreement with BNY (the "Credit Agreement") that established a revolving credit facility of $75,000,000 (the "Facility") that may be used by the Funds for certain temporary or emergency purposes, including the meeting of redemption requests. Each Fund pays a commitment fee of 0.25% per annum on its pro rata share of the unused portion of the committed line. The interest rate on borrowing under the Credit Agreement is the

higher of the Federal Funds Effective Rate or the secured overnight financing rate (SOFR) plus applicable margin of 1.25%. The Facility has a 364-day term currently in effect through April 14, 2027.

During the year ended March 31, 2026, the International Value Fund II – Currency Unhedged Fund had loans outstanding for five calendar days at a weighted average interest rate and average dollar amount of borrowings on days a loan was outstanding of 5.58% and $1,000,000, respectively. No other Funds borrowed under the Credit Agreement during the period. As of March 31, 2026, there were no loans outstanding with respect to the Credit Agreement.

11. Indemnifications

Under the Company's organizational documents, its directors and officers are indemnified against certain liabilities that may arise out of the performance of their duties to the Funds. Additionally, in the course of business, the Company enters into contracts that contain a variety of indemnification clauses. The Funds' maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Funds that have not yet occurred. However, the Investment Adviser believes the risk of loss under these arrangements to be remote.

12. Subsequent Event

Effective May 27, 2026, the Tweedy, Browne Worldwide High Dividend Yield Value Fund will change its name to Tweedy, Browne . Buybacks . Dividends + Value Fund. This change will be accompanied by certain strategy changes which have been described in the sticker to the prospectus dated March 27, 2026. Additionally, the Company has received approval from the SEC on January 13, 2026 for exemptive relief under the 1940 Act to implement an exchange-traded fund ("ETF") share class. As of the date of these financial statements, the ETF share class has not commenced operations and no shareholder transactions have occurred related to the proposed ETF share class.

------

TWEEDY, BROWNE FUND INC.

Report of Independent Registered Public Accounting Firm

To the Board of Directors of Tweedy, Browne Fund Inc. and Shareholders of 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.

Opinions on the Financial Statements

We have audited the accompanying statements of assets and liabilities, including the portfolios of investments, of 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 (constituting Tweedy, Browne Fund Inc., hereafter collectively referred to as the "Funds") as of March 31, 2026, the related statements of operations for the year ended March 31, 2026, the statements of changes in net assets for each of the two years in the period ended March 31, 2026, including the related notes, and the financial highlights for each of the five years in the period ended March 31, 2026 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of March 31, 2026, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended March 31, 2026 and each of the financial highlights for each of the five years in the period ended March 31, 2026 in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinions

These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of March 31, 2026 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/PricewaterhouseCoopers LLP

New York, New York

May 15, 2026

We have served as the auditor of one or more investment companies in Tweedy, Browne Fund Inc. since 2004.

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TWEEDY, BROWNE FUND INC.

**Other Information (Unaudited)** 

&nbsp;&nbsp;&nbsp;&nbsp;1. Investment in the Funds by Managing Directors and Employees of the Investment Adviser

As of March 31, 2026, the current and retired managing directors and their families, as well as employees of the Investment Adviser, have approximately $191.0 million, $7.7 million, $113.4 million and $7.5 million of their own money invested in International Value Fund, International Value Fund II – Currency Unhedged, Value Fund and Worldwide High Dividend Yield Value Fund, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;2. Tax Information – year ended March 31, 2026

For shareholders who do not have a March 31, 2026 tax year end, this footnote is for informational purposes only. Form 1099-DIV will be sent to shareholders in February 2026 reporting the amounts and tax characterization of distributions for the 2025 calendar year.

For the fiscal year ended March 31, 2026, the amount of long-term capital gain designated by the Funds and taxable at the lower capital gain rate for federal income tax purposes was:

---

| | |
|:---|:---|
|  Fund |  |
|  International Value Fund | $678031753 |
|  International Value Fund II - Currency Unhedged | $16333174 |
|  Value Fund | $19303301 |
|  Worldwide High Dividend Yield Value Fund | $2965804 |

---

Of the ordinary income (including short-term capital gain) distributions made by the Funds during the fiscal year ended March 31, 2026, the percentage that qualifies for the dividend received deduction available to corporate shareholders was:

---

| | |
|:---|:---|
|  Fund |  |
|  International Value Fund | 2.79% |
|  International Value Fund II - Currency Unhedged | 3.92% |
|  Value Fund | 22.55% |
|  Worldwide High Dividend Yield Value Fund | 10.4% |

---

For the fiscal year ended March 31, 2026, the percentage of the distributions paid by the Funds that qualify for the lower tax rates (qualified dividend income) applicable to individual shareholders was:

---

| | |
|:---|:---|
|  Fund |  |
|  International Value Fund | 100.0% |
|  International Value Fund II - Currency Unhedged | 100.0% |
|  Value Fund | 100.0% |
|  Worldwide High Dividend Yield Value Fund | 92.21% |

---

If the Funds meet the requirements of Section 853 of the Internal Revenue Code, the Funds may elect to pass through to their shareholders credits for foreign taxes paid.

For the fiscal year ended March 31, 2026, the gross income derived from foreign sources and foreign taxes paid were:

---

| | | |
|:---|:---|:---|
| International Value Fund | International Value Fund | International Value Fund |
|  | Dollar Amount | Per Share |
|  Foreign Source Income | $132118901 | 0.9325 |
|  Foreign Taxes | $10021597 | 0.0707 |
| International Value Fund II - Currency Unhedged | International Value Fund II - Currency Unhedged | International Value Fund II - Currency Unhedged |
|  | Dollar Amount | Per Share |
|  Foreign Source Income | $5281529 | 0.5633 |
|  Foreign Taxes | $379478 | 0.0405 |
| Value Fund | Value Fund | Value Fund |
|  | Dollar Amount | Per Share |
|  Foreign Source Income | $9846951 | 0.4387 |
|  Foreign Taxes | $625722 | 0.0279 |
| Worldwide High Dividend Yield Value Fund | Worldwide High Dividend Yield Value Fund | Worldwide High Dividend Yield Value Fund |
|  | Dollar Amount | Per Share |
|  Foreign Source Income | $1999026 | 0.1954 |
|  Foreign Taxes | $140543 | 0.0137 |

---

&nbsp;&nbsp;&nbsp;&nbsp;3. Portfolio Information

The Company files each Fund's complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Part F of Form N-PORT. The Company's Part F of Form N-PORT is available (1) on the SEC's website at www.sec.gov; (2) for review and copying at the SEC's Public Reference Room ("PRR") in Washington, DC; or (3) by calling the Fund at 800-432-4789. Information regarding the operation of the PRR may be obtained by calling 202-551-8090.

&nbsp;&nbsp;&nbsp;&nbsp;4. Proxy Voting Information

The policies and procedures that the Company uses to determine how to vote proxies relating to portfolio securities held by the Funds are included in the Company's Statement of Additional Information, which is available without charge and upon request by calling the Funds at 800-432-4789 or by visiting the Funds' website at www.tweedyfunds.com. Information regarding how the Funds voted proxies relating to portfolio securities during the most recent twelve-month period ended June 30 is available, without charge, at www.sec.gov.

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![LOGO](g142965g01a03.jpg)

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**Item 8.** **Changes in and Disagreements with Accountants for Open-End Management Investment Companies.** <br>

Not applicable.

**Item 9.** **Proxy Disclosures for Open-End Management Investment Companies.** <br>

Not applicable.

**Item 10.** **Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.** <br>

Included under Item 7 of this Form.

**Item 11.** **Statement Regarding Basis for Approval of Investment Advisory Contract.** <br>

Not applicable.

**Item 12.** **Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.** <br>

Not applicable.

#### Item 13. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.

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**Item 14.** **Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.** <br>

Not applicable.

#### Item 15. Submission of Matters to a Vote of Security Holders.
There have been no material changes to the procedures by which the shareholders may recommend nominees to the registrant's board of directors, where those changes were implemented after the registrant last provided disclosure in response to the requirements of Item 407(c)(2)(iv) of Regulation S-K (17 CFR 229.407) (as required by Item 22(b)(15) of Schedule 14A (17 CFR 240.14a-101)), or this Item.

#### Item 16. Controls and Procedures.
(a) The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(b)).

(b) There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.

**Item 17.** **Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.** <br>

Not applicable.

#### Item 18. Recovery of Erroneously Awarded Compensation.
(a) Not applicable.

(b) Not applicable.

#### Item 19. Exhibits.

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| | |
|:---|:---|
| (a)(1) | [Code of ethics, or any amendment thereto, that is the subject of disclosure required by Item 2 is attached hereto.](d142965dex99codeeth.htm) |
| (a)(2) | Not applicable. |
| (a)(3) | [Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto.](d142965dex99cert.htm) |
| (a)(4) | Not applicable. |

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| | |
|:---|:---|
| (a)(5) | There was no change in the Registrant's independent public accountant during the period covered by the report. |
| (b) | [Certifications pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto.](d142965dex99906cert.htm) |

---

------

#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tweedy, Browne Fund Inc.

---

| | |
|:---|:---|
| By (Signature and Title)\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; /s/ Thomas H. Shrager |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Thomas H. Shrager, President<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (principal executive officer) |

---

Date   <u> May 27, 2026</u>

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

---

| | |
|:---|:---|
| By (Signature and Title)\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; /s/ Thomas H. Shrager |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Thomas H. Shrager, President<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (principal executive officer) |

---

Date   <u> May 27, 2026</u>

---

| | |
|:---|:---|
| By (Signature and Title)\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; /s/ Roger R. de Bree |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Roger R. de Bree, Treasurer<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (principal financial officer) |

---

Date   <u> May 27, 2026</u>

\* Print the name and title of each signing officer under his or her signature.

## Ex-99.Code

**EX-99.CODE ETH** 

**CODE OF ETHICS** 

**FOR** 

**CHIEF EXECUTIVE AND SENIOR FINANCIAL OFFICER** 

**OF** 

**TWEEDY, BROWNE FUND INC.** 

Tweedy, Browne Fund Inc. (the "<u>Fund</u>") is committed to conducting business in accordance with applicable laws, rules and regulations and the highest standards of business ethics, and to full and accurate disclosure — financial and otherwise — in compliance with applicable law. This Code of Ethics, applicable to the Fund's Chief Executive Officer, President, Chief Financial Officer and Treasurer (or persons performing similar functions) (together, "<u>Senior Officers</u>"), sets forth policies to guide them in the performance of their duties.

A Senior Officer must comply with applicable law. A Senior Officer also has a responsibility to conduct himself or herself in an honest and ethical manner. A Senior Officer has leadership responsibilities that include creating a culture of high ethical standards and a commitment to compliance, maintaining a work environment that encourages the internal reporting of compliance concerns and promptly addressing compliance concerns.

This Code of Ethics recognizes that the Senior Officers may be subject to certain conflicts of interest inherent in the operation of investment companies, because the Senior Officers currently or may in the future serve as Senior Officers, as officers or employees of the Fund's investment advisor (the "<u>Advisor</u>") and as officers or trustees/directors of other registered investment companies and unregistered investment funds advised by the Advisor. This Code of Ethics also recognizes that certain laws and regulations applicable to, and certain policies and procedures adopted by, the Fund or the Advisor govern a Senior Officer's conduct in connection with many of the conflict-of-interest situations that arise in connection with the operations of the Fund, including:

the Investment Company Act of 1940, and the rules and regulations promulgated thereunder by the Securities and Exchange Commission (the "<u>1940 Act</u>");

the Investment Advisers Act of 1940, and the rules and regulations promulgated thereunder by the Securities and Exchange Commission (the "<u>Advisers Act</u>");

the Code of Ethics adopted by the Fund pursuant to Rule 17j-1(c) under the 1940 Act (collectively, the "<u>Advisor's 1940 Act Code of Ethics</u>");

one or more codes of ethics adopted by the Advisor that have been reviewed and approved by those directors (the "<u>Directors</u>") of the Fund that are not "interested persons" of the Fund (the "<u>Independent Directors</u>") within the meaning of the 1940 Act (the "<u>Advisor's 1940 Act Code of Ethics</u>" and, together with the Fund's 1940 Act Code of Ethics, the "<u>1940 Act Codes of Ethics</u>");

the policies and procedures adopted by the Fund to address conflict of interest situations, such as procedures under Rule 17a-7 under the 1940 Act (collectively, the "<u>Fund Policies</u>"); and

The Advisor's general policies and procedures to address, among other things, conflict of interest situations and related matters (collectively, the "<u>Advisor's Policies</u>").

The provisions of the 1940 Act, the Advisers Act, the 1940 Act Codes of Ethics, the Fund Policies and the Advisor's Policies are referred to herein collectively as the "<u>Additional Conflict Rules</u>".

This Code of Ethics is different from, and is intended to supplement, the Additional Conflict Rules. Accordingly, a violation of the Additional Conflict Rules by a Senior Officer is hereby deemed not to be a violation of this Code of Ethics, unless and until the Independent Directors shall determine that any such violation of the Additional Conflict Rules is also a violation of this Code of Ethics.

------

**Senior Officers Should Act Honestly and Candidly** 

Each Senior Officer has a responsibility to the Fund to act with integrity. Integrity requires, among other things, being honest and candid. Deceit and subordination of principle are inconsistent with integrity.

Each Senior Officer must:

act with integrity, including being honest and candid while still maintaining the confidentiality of information where required by law or the Additional Conflict Rules;

comply with the laws, rules and regulations that govern the conduct of the Fund's operations and report any suspected violations thereof in accordance with the section below entitled "Compliance With Code Of Ethics"; and

adhere to a high standard of business ethics.

**Conflicts Of Interest** 

A conflict of interest for the purpose of this Code of Ethics occurs when a Senior Officer's private interests interfere in any way, or even appear to interfere, with the interests of the Fund.

Senior Officers are expected to use objective and unbiased standards when making decisions that affect the Fund, keeping in mind that Senior Officers may be subject to certain inherent conflicts of interest because Senior Officers of the Fund also are or may be officers of the Advisor and other funds advised or serviced by the Advisor (as a result of which it is incumbent upon each Senior Officer to be familiar with and to seek to comply with the Additional Conflict Rules).

Each Senior Officer is required to conduct the business of the Fund in an honest and ethical manner, including the ethical handling of actual or apparent conflicts of interest between personal and business relationships. When making any investment, accepting any position or benefits, participating in any transaction or business arrangement or otherwise acting in a manner that creates or appears to create a conflict of interest with respect to the Fund where a Senior Officer is receiving a personal benefit, he or she should act in accordance with the letter and spirit of this Code of Ethics.

If a Senior Officer is in doubt as to the application or interpretation of this Code of Ethics to him or her as a Senior Officer of the Fund, the Senior Officer should make full disclosure of all relevant facts and circumstances to a designated member or members of the Management Committee of the Advisor (a "Designated Member"), excluding individuals currently serving as the principal executive officer and principal financial officer of the Fund under Sarbanes-Oxley Act, and obtain the approval of the Designated Member prior to taking action. As of the date of this policy, the Designated Members currently include Jason Minard and Jay Hill.

Some conflict of interest situations that should always be approved by a Designated Member if material, include the following:

the receipt of any entertainment or non-nominal gift by the Senior Officer, or a member of his or her family, from any company with which the Fund has current or prospective business dealings (other than the Advisor), unless such entertainment or gift is business related, reasonable in cost, appropriate as to time and place, and not so frequent as to raise any question of impropriety;

any significant ownership interest in, or any consulting or employment relationship with, any of the Fund's service providers, other than the Advisor; or

a direct or indirect financial interest in commissions, transaction charges or spreads paid by the Fund for effecting portfolio transactions or for selling or redeeming shares other than an interest arising from the Senior Officer's employment by the Advisor, such as compensation or equity ownership.

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**Disclosures** 

It is the policy of the Fund to make full, fair, accurate, timely and understandable disclosure in compliance with all applicable laws and regulations in all reports and documents that the Fund files with, or submits to, the Securities and Exchange Commission or a national securities exchange and in all other public communications made by the Fund. Each Senior Officer is required to promote compliance with this policy and to abide by the Fund's standards, policies and procedures designed to promote compliance with this policy.

Each Senior Officer must:

familiarize himself or herself with the disclosure requirements applicable to the Fund as well as the business and financial operations of the Fund; and

not knowingly misrepresent, or cause others to misrepresent, facts about the Fund to others, including to the Directors, the Fund's independent auditors, the Fund's counsel, any counsel to the Independent Directors, governmental regulators or self-regulatory organizations.

**Compliance With Code Of Ethics** 

If a Senior Officer knows of or suspects a violation of this Code of Ethics or other laws, regulations, policies or procedures applicable to the Fund, he or she must report that information on a timely basis to a Designated Member or report it anonymously by following the "whistle blower" policies adopted by the Fund from time to time. *No one will be subject to retaliation because of a good faith report of a suspected violation*.

The Fund will follow these procedures in investigating and enforcing this Code of Ethics, and in reporting on this Code of Ethics:

a Designated Member will take all appropriate action to investigate any actual or potential violations reported to him or her, including consultation with internal or external counsel as deemed appropriate;

violations and potential violations will be reported to the Independent Directors after such investigation;

if the Independent Directors determine that a violation has occurred, they will cause the Fund to take all appropriate disciplinary or preventive action; and

appropriate disciplinary or preventive action may include a letter of censure, suspension, dismissal or, in the event of criminal or other serious violations of law, notification to the Securities and Exchange Commission or other appropriate law enforcement authorities.

**Waivers Of Code Of Ethics** 

Except as otherwise provided in this Code of Ethics, a Designated Member is responsible for applying this Code of Ethics to specific situations in which questions are presented to the Designated Member and has the authority to interpret this Code of Ethics in any particular situation. A Designated Member shall take all action he or she considers appropriate to investigate any actual or potential violations reported under this Code of Ethics.

A Designated Member is authorized to consult, as appropriate, with the Independent Directors and with counsel to the Fund, the Advisor or the Independent Directors, and is encouraged to do so.

The Independent Directors are responsible for granting waivers of this Code of Ethics, as appropriate. Any changes to or waivers of this Code of Ethics will, to the extent required, be disclosed on Form N-CSR, or otherwise, as provided by Securities and Exchange Commission rules.

------

**Recordkeeping** 

The Fund will maintain and preserve for a period of not less than six (6) years from the date an action is taken, the first two (2) years in an easily accessible place, a copy of the information or materials supplied to the Independent Directors:

that provided the basis for any amendment or waiver to this Code of Ethics; and

relating to any violation of this Code of Ethics and sanctions imposed for such violation, together with a written record of the approval or action taken by the Governance Committee.

**Confidentiality** 

All reports and records prepared or maintained pursuant to this Code of Ethics shall be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or this Code of Ethics, such matters shall not be disclosed to anyone other than the Independent Directors and any counsel for them, the Fund and its counsel, the Advisor and its counsel and any other advisors, consultants or counsel retained by the Directors, the Independent Directors or any committee of the Directors.

**Amendments** 

This Code of Ethics may not be amended except in written form, which is specifically approved by a majority vote of the Directors, including a majority of the Independent Directors.

**No Rights Created** 

This Code of Ethics is a statement of certain fundamental principles, policies and procedures that govern each of the Senior Officers in the conduct of the Fund's business. It is not intended to and does not create any rights in any employee, investor, supplier, competitor, shareholder or any other person or entity.

ACKNOWLEDGMENT FORM

I have received and read the Joint Code of Ethics for Chief Executive and Senior Financial Officers, and I understand its contents. I agree to comply fully with the standards contained in the Code of Ethics and the Company's related policies and procedures. I understand that I have an obligation to report any suspected violations of the Code of Ethics on a timely basis to a Designated Member or report it anonymously by following the "whistle blower" policies adopted by the Fund's Advisor from time to time.

---

| |
|:---|
|  Printed Name<br>|
| Signature<br>|
| Date |

---

## Ex-99.Cert

**Certification Pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act** 

I, Thomas H. Shrager, certify that:

1. I have reviewed this report on Form N-CSR of Tweedy, Browne Fund
Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state
a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the
periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in
this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

------

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors
and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role
in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
|  Date: <u>May 27, 2026</u> | <u>/s/ Thomas H. Shrager</u>  |
|  | Thomas H. Shrager, President |
|  | (principal executive officer) |

---

------

**Certification Pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the** 

**Sarbanes-Oxley Act** 

I, Roger R. de Bree, certify that:

1. I have reviewed this report on Form N-CSR of Tweedy, Browne Fund
Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state
a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the
periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in
this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

------

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors
and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role
in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| Date: <u>May 27, 2026</u> | <u>/s/ Roger R. de Bree</u>  |
|  | Roger R. de Bree, Treasurer |
|  | (principal financial officer) |

---

## Exhibit 99.906

**Certification Pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 of the** 

**Sarbanes-Oxley Act** 

I, Thomas H. Shrager, President of Tweedy, Browne Fund Inc. (the "Registrant"), certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Form N-CSR of the Registrant (the "Report") fully
complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The information contained in the Report fairly presents, in all material respects, the financial condition
and results of operations of the Registrant.

---

| | |
|:---|:---|
| Date: <u>May 27, 2026</u> | <u>/s/ Thomas H. Shrager</u>  |
|  | Thomas H. Shrager, President |
|  | (principal executive officer) |

---

I, Roger R. de Bree, Treasurer of Tweedy, Browne Fund Inc. (the "Registrant"), certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Form N-CSR of the Registrant (the "Report") fully
complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The information contained in the Report fairly presents, in all material respects, the financial condition
and results of operations of the Registrant.

---

| | |
|:---|:---|
| Date: <u>May 27, 2026</u> | <u>/s/ Roger R. de Bree</u>  |
|  | Roger R. de Bree, Treasurer |
|  | (principal financial officer) |

---