# EDGAR Filing Document

**Accession Number:** 0000896975
**File Stem:** 0001752724-25-193786
**Filing Date:** 2025-8
**Character Count:** 106747
**Document Hash:** ce990370122262bb41407e3576c9be38
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-193786.hdr.sgml**: 20250820

**ACCESSION NUMBER**: 0001752724-25-193786

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250820

**DATE AS OF CHANGE**: 20250820

**PERIOD START**: 20260331

**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:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07458
- **FILM NUMBER:** 251234525

**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 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           |

## Nport-Ex

**Tweedy, Browne International Value Fund**

------

***Portfolio of Investments***

June 30, 2025 (Unaudited)

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

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value\*** |
| **COMMON STOCKS—94.2%** | **COMMON STOCKS—94.2%** | **COMMON STOCKS—94.2%** |
|  | **Belgium—1.0%** | **Belgium—1.0%** |
| 1462410 | Azelis Group NV | &nbsp;&nbsp; $23226274 |
| 926488 | Fagron NV | &nbsp;&nbsp; 24415676 |
|  |  | &nbsp;&nbsp; 47641950 |
|  | **Canada—4.8%** | **Canada—4.8%** |
| 251390 | &nbsp;&nbsp;&nbsp; Lassonde Industries, Inc., <br> Class A<sup>(a)</sup> | &nbsp;&nbsp; 38431626 |
| 1124700 | National Bank of Canada | &nbsp;&nbsp; 115824730 |
| 1926024 | Winpak, Ltd. | &nbsp;&nbsp; 63010415 |
|  |  | &nbsp;&nbsp; 217266771 |
|  | **China—2.1%** | **China—2.1%** |
| 8383895 | &nbsp;&nbsp;&nbsp; Haitian International Holdings, <br> Ltd. | &nbsp;&nbsp; 21787447 |
| 6463000 | &nbsp;&nbsp;&nbsp; Shanghai Mechanical and <br> Electrical Industry Co., Ltd., <br> Class B | &nbsp;&nbsp; 7122226 |
| 15974780 | &nbsp;&nbsp;&nbsp; Uni-President China Holdings, <br> Ltd. | &nbsp;&nbsp; 19332536 |
| 2768830 | Wuliangye Yibin Co., Ltd., Class A | &nbsp;&nbsp; 45944301 |
|  |  | &nbsp;&nbsp; 94186510 |
|  | **Czech Republic—0.0%**<sup>(b)</sup> | **Czech Republic—0.0%**<sup>(b)</sup> |
| 2800 | Philip Morris CR a.s. | &nbsp;&nbsp; 2324330 |
|  | **Finland—1.5%** | **Finland—1.5%** |
| 2919753 | Kemira Oyj | &nbsp;&nbsp; 67416015 |
|  | **France—12.7%** | **France—12.7%** |
| 480339 | Alten SA | &nbsp;&nbsp; 41978330 |
| 656951 | Arkema SA | &nbsp;&nbsp; 48236179 |
| 2392742 | Rubis SCA | &nbsp;&nbsp; 77015108 |
| 473440 | Safran SA | &nbsp;&nbsp; 153330747 |
| 149932 | Sopra Steria Group | &nbsp;&nbsp; 36396320 |
| 809227 | Teleperformance SE | &nbsp;&nbsp; 78196683 |
| 2305447 | TotalEnergies SE | &nbsp;&nbsp; 140995571 |
|  |  | &nbsp;&nbsp; 576148938 |
|  | **Germany—7.7%** | **Germany—7.7%** |
| 606940 | Brenntag SE | &nbsp;&nbsp; 40040056 |
| 2644654 | DHL Group | &nbsp;&nbsp; 121724587 |
| 1084451 | Fresenius SE & Co., KGaA | &nbsp;&nbsp; 54330906 |
| 42354 | KSB SE & Co., KGaA | &nbsp;&nbsp; 44248346 |
| 42088 | Rheinmetall AG | &nbsp;&nbsp; 88780783 |
|  |  | &nbsp;&nbsp; 349124678 |
|  | **Hong Kong—2.7%** | **Hong Kong—2.7%** |
| 1309676 | Great Eagle Holdings, Ltd. | &nbsp;&nbsp; 2289013 |
| 12583508 | Hang Lung Group, Ltd. | &nbsp;&nbsp; 21896907 |
| 7667170 | Prudential plc | &nbsp;&nbsp; 95884203 |
| 2500000 | TAI Cheung Holdings, Ltd. | &nbsp;&nbsp; 1031847 |
|  |  | &nbsp;&nbsp; 121101970 |
|  | **Italy—2.6%** | **Italy—2.6%** |
| 2080198 | SOL SpA | &nbsp;&nbsp; 117452524 |
|  | **Japan—8.6%** | **Japan—8.6%** |
| 1218825 | ADEKA Corp. | &nbsp;&nbsp; 23271967 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value\*** |
|  | **Japan (continued)** | **Japan (continued)** |
| 1046175 | Fuso Chemical Co., Ltd. | &nbsp;&nbsp; $28029335 |
| 481855 | Hosokawa Micron Corp. | &nbsp;&nbsp; 16562775 |
| 2751105 | Kanadevia Corp. | &nbsp;&nbsp; 18569887 |
| 1958145 | Koito Manufacturing Co., Ltd. | &nbsp;&nbsp; 23377902 |
| 3363180 | Kuraray Co., Ltd. | &nbsp;&nbsp; 42725157 |
| 1567485 | Mitsubishi Gas Chemical Co., Inc. | &nbsp;&nbsp; 24042113 |
| 543990 | Nakanishi, Inc. | &nbsp;&nbsp; 7140469 |
| 902365 | Nifco, Inc. | &nbsp;&nbsp; 21365144 |
| 164400 | Nippon Kanzai Holdings Co., Ltd. | &nbsp;&nbsp; 3093490 |
| 1357200 | Nippon Sanso Holdings Corp. | &nbsp;&nbsp; 51330151 |
| 820800 | Niterra Co., Ltd. | &nbsp;&nbsp; 27275710 |
| 104825 | Okamoto Industries, Inc. | &nbsp;&nbsp; 3494288 |
| 270565 | Shoei Co., Ltd. | &nbsp;&nbsp; 3259255 |
| 213135 | Star Micronics Co., Ltd. | &nbsp;&nbsp; 2487768 |
| 2450385 | Subaru Corp. | &nbsp;&nbsp; 42673291 |
| 625760 | Sumitomo Heavy Industries, Ltd. | &nbsp;&nbsp; 12834048 |
| 657770 | Taikisha, Ltd. | &nbsp;&nbsp; 11753293 |
| 1317955 | Takara Holdings, Inc. | &nbsp;&nbsp; 10930874 |
| 588565 | Transcosmos, Inc. | &nbsp;&nbsp; 14261328 |
| 164305 | YAMABIKO Corp. | &nbsp;&nbsp; 2416032 |
|  |  | &nbsp;&nbsp; 390894277 |
|  | **Mexico—2.5%** | **Mexico—2.5%** |
| 922029 | &nbsp;&nbsp;&nbsp; Coca-Cola FEMSA SAB de CV, <br> Sponsored ADR | &nbsp;&nbsp; 89187865 |
| 9067593 | Megacable Holdings SAB de CV | &nbsp;&nbsp; 25203224 |
|  |  | &nbsp;&nbsp; 114391089 |
|  | **Netherlands—4.1%** | **Netherlands—4.1%** |
| 1170235 | Aalberts NV | &nbsp;&nbsp; 42254408 |
| 1917912 | Heineken Holding NV | &nbsp;&nbsp; 142397318 |
|  |  | &nbsp;&nbsp; 184651726 |
|  | **Philippines—0.1%** | **Philippines—0.1%** |
| 22609020 | Alliance Global Group, Inc. | &nbsp;&nbsp; 3620333 |
|  | **Singapore—4.1%** | **Singapore—4.1%** |
| 1083249 | DBS Group Holdings, Ltd. | &nbsp;&nbsp; 38196296 |
| 5323381 | United Overseas Bank, Ltd. | &nbsp;&nbsp; 150466546 |
|  |  | &nbsp;&nbsp; 188662842 |
|  | **South Korea—4.9%** | **South Korea—4.9%** |
| 132322 | Binggrae Co., Ltd. | &nbsp;&nbsp; 8333854 |
| 219167 | DB Insurance Co., Ltd. | &nbsp;&nbsp; 20023185 |
| 167062 | Dentium Co., Ltd. | &nbsp;&nbsp; 7637615 |
| 1017582 | Hana Financial Group, Inc. | &nbsp;&nbsp; 65069151 |
| 998776 | LG Corp. | &nbsp;&nbsp; 58908247 |
| 991707 | LX Holdings Corp. | &nbsp;&nbsp; 7039533 |
| 1311490 | Samsung Electronics Co., Ltd. | &nbsp;&nbsp; 58111368 |
|  |  | &nbsp;&nbsp; 225122953 |
|  | **Sweden—2.7%** | **Sweden—2.7%** |
| 334776 | Autoliv, Inc. | &nbsp;&nbsp; 37461435 |
| 169601 | SKF AB, Class B | &nbsp;&nbsp; 3863466 |
| 2266594 | Trelleborg AB, Class B | &nbsp;&nbsp; 83739166 |
|  |  | &nbsp;&nbsp; 125064067 |
|  | **Switzerland—14.1%** | **Switzerland—14.1%** |
| 142761 | Coltene Holding AG, Registered | &nbsp;&nbsp; 12141859 |

---

------

 SEE NOTES TO PORTFOLIO OF INVESTMENTS

------

**1**

------

**Tweedy, Browne International Value Fund**

------

***Portfolio of Investments***

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value\*** |
|  | **Switzerland (continued)** | **Switzerland (continued)** |
| 1559589 | Nestlé SA, Registered | &nbsp;&nbsp; $154450252 |
| 1200966 | Novartis AG, Registered | &nbsp;&nbsp; 145096608 |
| 63203 | Phoenix Mecano AG, Registered<sup>(a)</sup> | &nbsp;&nbsp; 34936332 |
| 482951 | Roche Holding AG | &nbsp;&nbsp; 156777058 |
| 377500 | TX Group AG | &nbsp;&nbsp; 98643216 |
| 46738 | Zurich Insurance Group AG | &nbsp;&nbsp; 32563938 |
|  | Miscellaneous Security<sup>(c)</sup> | &nbsp;&nbsp; 5500779 |
|  |  | &nbsp;&nbsp; 640110042 |
|  | **United Kingdom—15.7%** | **United Kingdom—15.7%** |
| 1447120 | Babcock International Group plc | &nbsp;&nbsp; 22765539 |
| 5243779 | BAE Systems plc | &nbsp;&nbsp; 135560354 |
| 9789735 | CNH Industrial NV | &nbsp;&nbsp; 126874966 |
| 1665825 | Computacenter plc | &nbsp;&nbsp; 54786319 |
| 4130268 | CVS Group plc<sup>(a)</sup> | &nbsp;&nbsp; 70748909 |
| 4226159 | Diageo plc | &nbsp;&nbsp; 105865275 |
| 2704933 | Grafton Group plc | &nbsp;&nbsp; 37882524 |
| 1640676 | Howden Joinery Group plc | &nbsp;&nbsp; 19245451 |
| 5273360 | Inchcape plc | &nbsp;&nbsp; 52463293 |
| 21758986 | Johnson Service Group plc<sup>(a)</sup> | &nbsp;&nbsp; 45322488 |
| 5987762 | Pets at Home Group plc | &nbsp;&nbsp; 21497964 |
| 2004144 | SThree plc | &nbsp;&nbsp; 6714896 |
| 16292379 | Vertu Motors plc<sup>(a)</sup> | &nbsp;&nbsp; 14177176 |
|  |  | &nbsp;&nbsp; 713905154 |
|  | **United States—2.3%** | **United States—2.3%** |
| 57179 | Alphabet, Inc., Class A | &nbsp;&nbsp; 10076655 |
| 2350482 | Ionis Pharmaceuticals, Inc.<sup>(d)</sup> | &nbsp;&nbsp; 92867544 |
|  |  | &nbsp;&nbsp; 102944199 |
| **TOTAL COMMON STOCKS** <br>(Cost $2,457,751,803) | **TOTAL COMMON STOCKS** <br>(Cost $2,457,751,803) | &nbsp;&nbsp; 4282030368 |
| **PREFERRED STOCKS—0.8%** | **PREFERRED STOCKS—0.8%** | **PREFERRED STOCKS—0.8%** |
|  | **Chile—0.8%** | **Chile—0.8%** |
| 11044000 | &nbsp;&nbsp;&nbsp; Embotelladora Andina SA, Class A <br>(Cost $26,319,918) | &nbsp;&nbsp; 36673522 |
|  | **Croatia—0.0%**<sup>(b)</sup> | **Croatia—0.0%**<sup>(b)</sup> |
| 30000 | &nbsp;&nbsp;&nbsp; Adris Grupa DD <br>(Cost $1,437,096) | &nbsp;&nbsp; 2774982 |
| **TOTAL PREFERRED STOCKS** <br>(Cost $27,757,014) | **TOTAL PREFERRED STOCKS** <br>(Cost $27,757,014) | &nbsp;&nbsp; 39448504 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value\*** |
| **REGISTERED INVESTMENT COMPANY—5.5%** | **REGISTERED INVESTMENT COMPANY—5.5%** | **REGISTERED INVESTMENT COMPANY—5.5%** |
| 248907725 | &nbsp;&nbsp;&nbsp; Dreyfus Treasury Securities Cash <br> Management– Institutional <br> Shares 4.11%<sup>(e)</sup> <br>(Cost $248,907,725) | &nbsp;&nbsp; $248907725 |

---

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

---

| | | | |
|:---|:---|:---|:---|
| **Face Value** |  |  |  |
| **U.S. TREASURY BILL—1.1%** | **U.S. TREASURY BILL—1.1%** | **U.S. TREASURY BILL—1.1%** | **U.S. TREASURY BILL—1.1%** |
| $50000000 | &nbsp;&nbsp;&nbsp; 4.253%<sup>(f)</sup> due 07/10/2025 <br>(Cost $49,947,537) | &nbsp;&nbsp;&nbsp; 4.253%<sup>(f)</sup> due 07/10/2025 <br>(Cost $49,947,537) | &nbsp;&nbsp; 49947646 |
| **INVESTMENTS IN SECURITIES** <br>**(Cost $2,784,364,079)** | **INVESTMENTS IN SECURITIES** <br>**(Cost $2,784,364,079)** | 101.6<br> %<br>| &nbsp;&nbsp; 4620334243 |

---

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

---

| | | |
|:---|:---|:---|
| **UNREALIZED DEPRECIATION ON** <br>**FORWARD CONTRACTS (Net)** | (2.6)<br>| (117209312) |
| **OTHER ASSETS** <br>**AND LIABILITIES (Net)** | 1.0 | &nbsp;&nbsp; 43459295 |
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $4546584226 |

---

------

\* See Note 1 in Notes to Portfolio of Investments.

(a) "Affiliated company" as defined by the Investment Company Act of 1940. See Note 1. 

(b) Amount represents less than 0.1% of net assets.

(c) Represents one or more issuers where disclosure may be disadvantageous to the Fund's accumulation or disposition program. The aggregate amount of $5,500,779 represents 0.1% of the net assets of the Fund. 

(d) Non-income producing security.

(e) Rate disclosed is the 7-day yield at June 30, 2025.

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

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

Abbreviations: <br> ADR — American Depositary Receipt

------

 SEE NOTES TO PORTFOLIO OF INVESTMENTS

------

**2**

------

**Tweedy, Browne International Value Fund**

------

***Sector Diversification***

June 30, 2025 (Unaudited)

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

---

| | |
|:---|:---|
| **Sector Diversification** | **Percentage of** <br>**Net Assets**<br>|
| **COMMON STOCKS** |  |
| Chemicals | 8.9<br> %<br>|
| Aerospace & Defense | 8.8 |
| Beverages | 8.7 |
| Machinery | 8.5 |
| Banks | 8.1 |
| Pharmaceuticals | 6.6 |
| Food Products | 4.8 |
| Health Care Providers & Services | 3.3 |
| Insurance | 3.2 |
| Oil, Gas & Consumable Fuels | 3.1 |
| IT Services | 2.9 |
| Media | 2.7 |
| Air Freight & Logistics | 2.7 |
| Trading Companies & Distributors | 2.6 |
| Automobile Components | 2.5 |
| Professional Services | 2.1 |
| Biotechnology | 2.1 |
| Gas Utilities | 1.7 |
| Industrial Conglomerates | 1.5 |
| Containers & Packaging | 1.5 |
| Technology Hardware, Storage & Peripherals | 1.3 |
| Distributors | 1.2 |
| Commercial Services & Supplies | 1.1 |
| Automobiles | 0.9 |
| Specialty Retail | 0.8 |
| Electrical Equipment | 0.8 |
| Health Care Equipment & Supplies | 0.7 |
| Real Estate Management & Development | 0.6 |
| Construction & Engineering | 0.3 |
| Interactive Media & Services | 0.2 |
| Tobacco | 0.0<br> \*<br>|
| **Total Common Stocks** | 94.2 |
| **Preferred Stocks** | 0.8 |
| **Registered Investment Company** | 5.5 |
| **U.S. Treasury Bill** | 1.1 |
| **Unrealized Depreciation on Forward Contracts** | (2.6)<br>|
| **Other Assets and Liabilities (Net)** | 1.0 |
| **Net Assets** | 100.0<br> %<br>|

---

------

\* Amount represents less than 0.1% of net assets.

------

 SEE NOTES TO PORTFOLIO OF INVESTMENTS

------

**3**

------

**Tweedy, Browne International Value Fund**

------

***Portfolio Composition***

June 30, 2025 (Unaudited)

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

---

| | |
|:---|:---|
| **Portfolio Composition** | **Percentage of** <br>**Net Assets**<br>|
| United Kingdom | 16<br> %<br>|
| Switzerland | 14 |
| France | 13 |
| Japan | 9 |
| Germany | 8 |
| South Korea | 5 |
| Canada | 5 |
| Singapore | 4 |
| Other Countries<sup>(a)</sup> | 21 |
| &nbsp;&nbsp;&nbsp; Money Market Funds, Treasury Bills and <br>Other Assets and Liabilities (Net)<sup>(b)</sup><br>| 5 |
| **Total** | 100<br> %<br>|

---

------

<sup>(a)</sup> "Other Countries" include Belgium, Chile, China, Croatia, Czech Republic, Finland, Hong Kong, Italy, Mexico, Netherlands, Philippines, Sweden and United States <br> <sup>(b)</sup> Includes Unrealized Depreciation on Forward Contracts (Net)

------

 SEE NOTES TO PORTFOLIO OF INVESTMENTS

------

**4**

------

**Tweedy, Browne International Value Fund**

------

***Schedule of Forward Exchange Contracts***

June 30, 2025 (Unaudited)

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts** |  | **Counter-** <br>**party**<br>| **Settlement** <br>**Date**<br>| **Contract Value on** <br>**Origination Date**<br>| **Value 06/30/25\*** | **Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>|
| **FORWARD EXCHANGE CONTRACTS TO BUY**<sup>(a)</sup> | **FORWARD EXCHANGE CONTRACTS TO BUY**<sup>(a)</sup> |  |  |  |  |  |
| 50000000 | Great Britain Pound Sterling | JPM | &nbsp;&nbsp; 7/28/25 | &nbsp;&nbsp; $63154500 | &nbsp;&nbsp; $68526487 | &nbsp;&nbsp; $5371987 |
| **FORWARD EXCHANGE CONTRACTS TO SELL**<sup>(a)</sup> | **FORWARD EXCHANGE CONTRACTS TO SELL**<sup>(a)</sup> |  |  |  |  |  |
| 55000000 | Canadian Dollar | NTC | &nbsp;&nbsp; 9/11/25 | &nbsp;&nbsp; $(40977530)<br>| &nbsp;&nbsp; $(40454940)<br>| &nbsp;&nbsp; $522590 |
| 33000000 | Canadian Dollar | NTC | &nbsp;&nbsp; 12/18/25 | &nbsp;&nbsp; (23652523)<br>| &nbsp;&nbsp; (24383478)<br>| &nbsp;&nbsp; (730955)<br>|
| 50000000 | Canadian Dollar | SSB | &nbsp;&nbsp; 1/6/26 | &nbsp;&nbsp; (35240751)<br>| &nbsp;&nbsp; (36974371)<br>| &nbsp;&nbsp; (1733620)<br>|
| 39000000 | Canadian Dollar | NTC | &nbsp;&nbsp; 4/8/26 | &nbsp;&nbsp; (27720422)<br>| &nbsp;&nbsp; (28932512)<br>| &nbsp;&nbsp; (1212090)<br>|
| 17000000 | Canadian Dollar | BNY | &nbsp;&nbsp; 6/26/26 | &nbsp;&nbsp; (12618765)<br>| &nbsp;&nbsp; (12647157)<br>| &nbsp;&nbsp; (28392)<br>|
| 12000000000 | Chilean Peso | JPM | &nbsp;&nbsp; 1/13/26 | &nbsp;&nbsp; (11930801)<br>| &nbsp;&nbsp; (12845222)<br>| &nbsp;&nbsp; (914421)<br>|
| 16300000000 | Chilean Peso | SSB | &nbsp;&nbsp; 4/8/26 | &nbsp;&nbsp; (16917488)<br>| &nbsp;&nbsp; (17426805)<br>| &nbsp;&nbsp; (509317)<br>|
| 4700000000 | Chilean Peso | SSB | &nbsp;&nbsp; 6/26/26 | &nbsp;&nbsp; (4975651)<br>| &nbsp;&nbsp; (5019438)<br>| &nbsp;&nbsp; (43787)<br>|
| 240000000 | Chinese Yuan | SSB | &nbsp;&nbsp; 5/15/26 | &nbsp;&nbsp; (34098174)<br>| &nbsp;&nbsp; (34248120)<br>| &nbsp;&nbsp; (149946)<br>|
| 280000000 | Chinese Yuan | JPM | &nbsp;&nbsp; 6/12/26 | &nbsp;&nbsp; (40012575)<br>| &nbsp;&nbsp; (40024660)<br>| &nbsp;&nbsp; (12085)<br>|
| 90000000 | European Union Euro | SSB | &nbsp;&nbsp; 12/12/25 | &nbsp;&nbsp; (96753600)<br>| &nbsp;&nbsp; (106765376)<br>| &nbsp;&nbsp; (10011776)<br>|
| 75000000 | European Union Euro | NTC | &nbsp;&nbsp; 12/17/25 | &nbsp;&nbsp; (81008925)<br>| &nbsp;&nbsp; (88998519)<br>| &nbsp;&nbsp; (7989594)<br>|
| 65000000 | European Union Euro | SSB | &nbsp;&nbsp; 12/17/25 | &nbsp;&nbsp; (70176600)<br>| &nbsp;&nbsp; (77132050)<br>| &nbsp;&nbsp; (6955450)<br>|
| 100000000 | European Union Euro | SSB | &nbsp;&nbsp; 4/29/26 | &nbsp;&nbsp; (115943000)<br>| &nbsp;&nbsp; (119494450)<br>| &nbsp;&nbsp; (3551450)<br>|
| 120000000 | European Union Euro | BNY | &nbsp;&nbsp; 5/29/26 | &nbsp;&nbsp; (139218000)<br>| &nbsp;&nbsp; (143615099)<br>| &nbsp;&nbsp; (4397099)<br>|
| 85000000 | European Union Euro | NTC | &nbsp;&nbsp; 6/12/26 | &nbsp;&nbsp; (99291050)<br>| &nbsp;&nbsp; (101800832)<br>| &nbsp;&nbsp; (2509782)<br>|
| 85000000 | European Union Euro | BNY | &nbsp;&nbsp; 6/16/26 | &nbsp;&nbsp; (99246000)<br>| &nbsp;&nbsp; (101821843)<br>| &nbsp;&nbsp; (2575843)<br>|
| 50000000 | Great Britain Pound Sterling | JPM | &nbsp;&nbsp; 7/28/25 | &nbsp;&nbsp; (64911500)<br>| &nbsp;&nbsp; (68526487)<br>| &nbsp;&nbsp; (3614987)<br>|
| 75000000 | Great Britain Pound Sterling | NTC | &nbsp;&nbsp; 8/14/25 | &nbsp;&nbsp; (95168250)<br>| &nbsp;&nbsp; (102802046)<br>| &nbsp;&nbsp; (7633796)<br>|
| 94000000 | Great Britain Pound Sterling | NTC | &nbsp;&nbsp; 8/26/25 | &nbsp;&nbsp; (120884000)<br>| &nbsp;&nbsp; (128856912)<br>| &nbsp;&nbsp; (7972912)<br>|
| 75000000 | Great Britain Pound Sterling | NTC | &nbsp;&nbsp; 9/26/25 | &nbsp;&nbsp; (98813250)<br>| &nbsp;&nbsp; (102834164)<br>| &nbsp;&nbsp; (4020914)<br>|
| 52000000 | Great Britain Pound Sterling | JPM | &nbsp;&nbsp; 10/10/25 | &nbsp;&nbsp; (67978040)<br>| &nbsp;&nbsp; (71303050)<br>| &nbsp;&nbsp; (3325010)<br>|
| 20000000 | Hong Kong Dollar | SSB | &nbsp;&nbsp; 5/15/26 | &nbsp;&nbsp; (2601083)<br>| &nbsp;&nbsp; (2585139)<br>| &nbsp;&nbsp; 15944 |
| 315000000 | Hong Kong Dollar | NTC | &nbsp;&nbsp; 5/20/26 | &nbsp;&nbsp; (40955365)<br>| &nbsp;&nbsp; (40721081)<br>| &nbsp;&nbsp; 234284 |
| 6400000000 | Japanese Yen | JPM | &nbsp;&nbsp; 8/21/25 | &nbsp;&nbsp; (45435829)<br>| &nbsp;&nbsp; (44569595)<br>| &nbsp;&nbsp; 866234 |
| 2200000000 | Japanese Yen | JPM | &nbsp;&nbsp; 8/29/25 | &nbsp;&nbsp; (15817462)<br>| &nbsp;&nbsp; (15336921)<br>| &nbsp;&nbsp; 480541 |
| 6100000000 | Japanese Yen | JPM | &nbsp;&nbsp; 9/11/25 | &nbsp;&nbsp; (43650936)<br>| &nbsp;&nbsp; (42576958)<br>| &nbsp;&nbsp; 1073978 |
| 3800000000 | Japanese Yen | BNY | &nbsp;&nbsp; 10/2/25 | &nbsp;&nbsp; (27462600)<br>| &nbsp;&nbsp; (26584987)<br>| &nbsp;&nbsp; 877613 |
| 3500000000 | Japanese Yen | SSB | &nbsp;&nbsp; 12/22/25 | &nbsp;&nbsp; (23893558)<br>| &nbsp;&nbsp; (24698802)<br>| &nbsp;&nbsp; (805244)<br>|
| 2200000000 | Japanese Yen | JPM | &nbsp;&nbsp; 1/13/26 | &nbsp;&nbsp; (14574043)<br>| &nbsp;&nbsp; (15557012)<br>| &nbsp;&nbsp; (982969)<br>|
| 5800000000 | Japanese Yen | SSB | &nbsp;&nbsp; 2/19/26 | &nbsp;&nbsp; (39773701)<br>| &nbsp;&nbsp; (41142470)<br>| &nbsp;&nbsp; (1368769)<br>|
| 770000000 | Japanese Yen | SSB | &nbsp;&nbsp; 4/7/26 | &nbsp;&nbsp; (5318208)<br>| &nbsp;&nbsp; (5483848)<br>| &nbsp;&nbsp; (165640)<br>|
| 2000000000 | Japanese Yen | BNY | &nbsp;&nbsp; 5/29/26 | &nbsp;&nbsp; (14460793)<br>| &nbsp;&nbsp; (14307023)<br>| &nbsp;&nbsp; 153770 |
| 2100000000 | Japanese Yen | BNY | &nbsp;&nbsp; 6/26/26 | &nbsp;&nbsp; (15069968)<br>| &nbsp;&nbsp; (15059222)<br>| &nbsp;&nbsp; 10746 |
| 2700000000 | Japanese Yen | SSB | &nbsp;&nbsp; 7/6/26 | &nbsp;&nbsp; (19387944)<br>| &nbsp;&nbsp; (19375763)<br>| &nbsp;&nbsp; 12181 |
| 73000000 | Mexican Peso | NTC | &nbsp;&nbsp; 9/11/25 | &nbsp;&nbsp; (3479836)<br>| &nbsp;&nbsp; (3834587)<br>| &nbsp;&nbsp; (354751)<br>|
| 400000000 | Mexican Peso | BNY | &nbsp;&nbsp; 4/15/26 | &nbsp;&nbsp; (18755128)<br>| &nbsp;&nbsp; (20493084)<br>| &nbsp;&nbsp; (1737956)<br>|
| 265000000 | Mexican Peso | NTC | &nbsp;&nbsp; 4/29/26 | &nbsp;&nbsp; (12886347)<br>| &nbsp;&nbsp; (13554254)<br>| &nbsp;&nbsp; (667907)<br>|
| 260000000 | Mexican Peso | BNY | &nbsp;&nbsp; 5/29/26 | &nbsp;&nbsp; (12894267)<br>| &nbsp;&nbsp; (13251633)<br>| &nbsp;&nbsp; (357366)<br>|
| 115000000 | Mexican Peso | JPM | &nbsp;&nbsp; 6/15/26 | &nbsp;&nbsp; (5748039)<br>| &nbsp;&nbsp; (5849614)<br>| &nbsp;&nbsp; (101575)<br>|
| 37800000 | Philippine Peso | JPM | &nbsp;&nbsp; 11/26/25 | &nbsp;&nbsp; (637867)<br>| &nbsp;&nbsp; (668927)<br>| &nbsp;&nbsp; (31060)<br>|
| 92000000 | Philippine Peso | SSB | &nbsp;&nbsp; 4/8/26 | &nbsp;&nbsp; (1598055)<br>| &nbsp;&nbsp; (1623051)<br>| &nbsp;&nbsp; (24996)<br>|
| 67000000 | Philippine Peso | SSB | &nbsp;&nbsp; 6/26/26 | &nbsp;&nbsp; (1160173)<br>| &nbsp;&nbsp; (1179954)<br>| &nbsp;&nbsp; (19781)<br>|
| 75000000 | Singapore Dollar | SSB | &nbsp;&nbsp; 7/3/25 | &nbsp;&nbsp; (56114540)<br>| &nbsp;&nbsp; (58899694)<br>| &nbsp;&nbsp; (2785154)<br>|
| 67000000 | Singapore Dollar | JPM | &nbsp;&nbsp; 7/18/25 | &nbsp;&nbsp; (50429023)<br>| &nbsp;&nbsp; (52678855)<br>| &nbsp;&nbsp; (2249832)<br>|
| 75000000 | Singapore Dollar | SSB | &nbsp;&nbsp; 11/24/25 | &nbsp;&nbsp; (56749738)<br>| &nbsp;&nbsp; (59495713)<br>| &nbsp;&nbsp; (2745975)<br>|
| 6000000 | Singapore Dollar | NTC | &nbsp;&nbsp; 5/20/26 | &nbsp;&nbsp; (4690798)<br>| &nbsp;&nbsp; (4811370)<br>| &nbsp;&nbsp; (120572)<br>|
| 36000000000 | South Korean Won | JPM | &nbsp;&nbsp; 12/12/25 | &nbsp;&nbsp; (25883453)<br>| &nbsp;&nbsp; (26940738)<br>| &nbsp;&nbsp; (1057285)<br>|
| 40000000000 | South Korean Won | JPM | &nbsp;&nbsp; 3/11/26 | &nbsp;&nbsp; (27901202)<br>| &nbsp;&nbsp; (30075088)<br>| &nbsp;&nbsp; (2173886)<br>|
| 69000000000 | South Korean Won | SSB | &nbsp;&nbsp; 4/7/26 | &nbsp;&nbsp; (47830306)<br>| &nbsp;&nbsp; (51951780)<br>| &nbsp;&nbsp; (4121474)<br>|
| 60000000000 | South Korean Won | JPM | &nbsp;&nbsp; 5/29/26 | &nbsp;&nbsp; (44692737)<br>| &nbsp;&nbsp; (45296958)<br>| &nbsp;&nbsp; (604221)<br>|
| 27500000000 | South Korean Won | SSB | &nbsp;&nbsp; 6/26/26 | &nbsp;&nbsp; (20479595)<br>| &nbsp;&nbsp; (20792864)<br>| &nbsp;&nbsp; (313269)<br>|
| 97120000 | Swedish Krona | NTC | &nbsp;&nbsp; 4/15/26 | &nbsp;&nbsp; (10080231)<br>| &nbsp;&nbsp; (10370702)<br>| &nbsp;&nbsp; (290471)<br>|
| 500000000 | Swedish Krona | SSB | &nbsp;&nbsp; 5/15/26 | &nbsp;&nbsp; (53060531)<br>| &nbsp;&nbsp; (53475928)<br>| &nbsp;&nbsp; (415397)<br>|
| 120000000 | Swiss Franc | SSB | &nbsp;&nbsp; 12/22/25 | &nbsp;&nbsp; (140581068)<br>| &nbsp;&nbsp; (154046477)<br>| &nbsp;&nbsp; (13465409)<br>|

---

------

 SEE NOTES TO PORTFOLIO OF INVESTMENTS

------

**5**

------

**Tweedy, Browne International Value Fund**

------

***Schedule of Forward Exchange Contracts***

June 30, 2025 (Unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts** |  | **Counter-**<br> **party**<br>| **Settlement**<br> **Date**<br>| **Contract Value on**<br> **Origination Date**<br>| **Value 06/30/25\*** | **Unrealized**<br> **Appreciation**<br> **(Depreciation)**<br>|
| **FORWARD EXCHANGE CONTRACTS TO SELL**<sup>(a)</sup> **(continued)** | **FORWARD EXCHANGE CONTRACTS TO SELL**<sup>(a)</sup> **(continued)** |  |  |  |  |  |
| 85000000 | Swiss Franc | JPM | &nbsp;&nbsp; 1/7/26 | &nbsp;&nbsp; $(98330692)<br>| &nbsp;&nbsp; $(109316731)<br>| &nbsp;&nbsp; $(10986039)<br>|
| 40000000 | Swiss Franc | JPM | &nbsp;&nbsp; 2/6/26 | &nbsp;&nbsp; (45949732)<br>| &nbsp;&nbsp; (51603558)<br>| &nbsp;&nbsp; (5653826)<br>|
| 25000000 | Swiss Franc | SSB | &nbsp;&nbsp; 4/7/26 | &nbsp;&nbsp; (29565400)<br>| &nbsp;&nbsp; (32454598)<br>| &nbsp;&nbsp; (2889198)<br>|
| 11800000 | Swiss Franc | NTC | &nbsp;&nbsp; 5/29/26 | &nbsp;&nbsp; (14956398)<br>| &nbsp;&nbsp; (15402330)<br>| &nbsp;&nbsp; (445932)<br>|
| **TOTAL** | **TOTAL** |  |  | &nbsp;&nbsp; $(2490393541)<br>| &nbsp;&nbsp; $(2612974840)<br>| &nbsp;&nbsp; $(122581299)<br>|
| **Unrealized Depreciation on Forward Contracts (Net)** | **Unrealized Depreciation on Forward Contracts (Net)** |  |  |  |  | &nbsp;&nbsp; $(117209312)<br>|

---

------

<sup>\*</sup> See Note 1 in Notes to Portfolio of Investments. <br> <sup>(a)</sup> Primary risk exposure being hedged against is currency risk.

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

---

| | |
|:---|:---|
| ***Counterparty Abbreviations:*** | ***Counterparty Abbreviations:*** |
| BNY —  | The Bank of New York Mellon |
| JPM —  | JPMorgan Chase Bank NA |
| NTC —  | Northern Trust Company |
| SSB —  | State Street Bank and Trust Company |

---

------

 SEE NOTES TO PORTFOLIO OF INVESTMENTS

------

**6**

------

**Tweedy, Browne International Value Fund II - Currency Unhedged**

------

***Portfolio of Investments***

June 30, 2025 (Unaudited)

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

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value\*** |
| **COMMON STOCKS—90.7%** | **COMMON STOCKS—90.7%** | **COMMON STOCKS—90.7%** |
|  | **Belgium—2.1%** | **Belgium—2.1%** |
| 116662 | Azelis Group NV | &nbsp;&nbsp; $1852848 |
| 79510 | Fagron NV | &nbsp;&nbsp; 2095322 |
|  |  | &nbsp;&nbsp; 3948170 |
|  | **Canada—5.5%** | **Canada—5.5%** |
| 175000 | E-L Financial Corp., Ltd. | &nbsp;&nbsp; 2071272 |
| 21490 | Lassonde Industries, Inc., Class A | &nbsp;&nbsp; 3285316 |
| 154890 | Winpak, Ltd. | &nbsp;&nbsp; 5067270 |
|  |  | &nbsp;&nbsp; 10423858 |
|  | **China—2.1%** | **China—2.1%** |
| 515680 | Haitian International Holdings, Ltd. | &nbsp;&nbsp; 1340111 |
| 357122 | &nbsp;&nbsp;&nbsp; Shanghai Mechanical and Electrical <br> Industry Co., Ltd., Class B | &nbsp;&nbsp; 393548 |
| 131955 | Wuliangye Yibin Co., Ltd., Class A | &nbsp;&nbsp; 2189582 |
|  |  | &nbsp;&nbsp; 3923241 |
|  | **Finland—3.5%** | **Finland—3.5%** |
| 287855 | Kemira Oyj | &nbsp;&nbsp; 6646465 |
|  | **France—12.1%** | **France—12.1%** |
| 23595 | Alten SA | &nbsp;&nbsp; 2062041 |
| 26270 | Arkema SA | &nbsp;&nbsp; 1928857 |
| 123575 | Rubis SCA | &nbsp;&nbsp; 3977505 |
| 18979 | Safran SA | &nbsp;&nbsp; 6146638 |
| 7040 | Sopra Steria Group | &nbsp;&nbsp; 1708975 |
| 34195 | Teleperformance SE | &nbsp;&nbsp; 3304308 |
| 60820 | TotalEnergies SE | &nbsp;&nbsp; 3719604 |
|  |  | &nbsp;&nbsp; 22847928 |
|  | **Germany—5.5%** | **Germany—5.5%** |
| 13625 | Brenntag SE | &nbsp;&nbsp; 898846 |
| 127939 | DHL Group | &nbsp;&nbsp; 5888605 |
| 1678 | Rheinmetall AG | &nbsp;&nbsp; 3539587 |
|  |  | &nbsp;&nbsp; 10327038 |
|  | **Hong Kong—3.5%** | **Hong Kong—3.5%** |
| 1663100 | &nbsp;&nbsp;&nbsp; Chow Sang Sang Holdings International, <br> Ltd. | &nbsp;&nbsp; 1805046 |
| 405955 | Hang Lung Group, Ltd. | &nbsp;&nbsp; 706414 |
| 45710 | Luk Fook Holdings International, Ltd. | &nbsp;&nbsp; 116750 |
| 314120 | Prudential plc | &nbsp;&nbsp; 3928326 |
|  |  | &nbsp;&nbsp; 6556536 |
|  | **Italy—0.8%** | **Italy—0.8%** |
| 28467 | SOL SpA | &nbsp;&nbsp; 1607309 |
|  | **Japan—13.3%** | **Japan—13.3%** |
| 103690 | ADEKA Corp. | &nbsp;&nbsp; 1979833 |
| 12000 | Fukuda Denshi Co., Ltd. | &nbsp;&nbsp; 581536 |
| 50620 | Fuso Chemical Co., Ltd. | &nbsp;&nbsp; 1356222 |
| 111630 | Inaba Denki Sangyo Co., Ltd. | &nbsp;&nbsp; 3058822 |
| 199525 | Kanadevia Corp. | &nbsp;&nbsp; 1346789 |
| 89190 | Koito Manufacturing Co., Ltd. | &nbsp;&nbsp; 1064822 |
| 155825 | Kuraray Co., Ltd. | &nbsp;&nbsp; 1979569 |
| 108510 | Mitsubishi Gas Chemical Co., Inc. | &nbsp;&nbsp; 1664328 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value\*** |
|  | **Japan (continued)** | **Japan (continued)** |
| 71300 | Nakanishi, Inc. | &nbsp;&nbsp; $935891 |
| 48080 | Nifco, Inc. | &nbsp;&nbsp; 1138382 |
| 59015 | Nippon Sanso Holdings Corp. | &nbsp;&nbsp; 2231984 |
| 24910 | Okamoto Industries, Inc. | &nbsp;&nbsp; 830362 |
| 142920 | Subaru Corp. | &nbsp;&nbsp; 2488942 |
| 88120 | Taikisha, Ltd. | &nbsp;&nbsp; 1574563 |
| 117505 | Takara Holdings, Inc. | &nbsp;&nbsp; 974565 |
| 80335 | Transcosmos, Inc. | &nbsp;&nbsp; 1946571 |
|  |  | &nbsp;&nbsp; 25153181 |
|  | **Mexico—2.4%** | **Mexico—2.4%** |
| 16652 | &nbsp;&nbsp;&nbsp; Coca-Cola FEMSA SAB de CV, Sponsored <br> ADR | &nbsp;&nbsp; 1610748 |
| 1079344 | Megacable Holdings SAB de CV | &nbsp;&nbsp; 3000019 |
|  |  | &nbsp;&nbsp; 4610767 |
|  | **Netherlands—2.7%** | **Netherlands—2.7%** |
| 53075 | Aalberts NV | &nbsp;&nbsp; 1916412 |
| 41905 | Heineken Holding NV | &nbsp;&nbsp; 3111279 |
|  |  | &nbsp;&nbsp; 5027691 |
|  | **Philippines—0.6%** | **Philippines—0.6%** |
| 6997100 | Alliance Global Group, Inc. | &nbsp;&nbsp; 1120430 |
|  | **Singapore—2.9%** | **Singapore—2.9%** |
| 194715 | United Overseas Bank, Ltd. | &nbsp;&nbsp; 5503663 |
|  | **South Korea—5.9%** | **South Korea—5.9%** |
| 15005 | DB Insurance Co., Ltd. | &nbsp;&nbsp; 1370863 |
| 8035 | Dentium Co., Ltd. | &nbsp;&nbsp; 367338 |
| 43735 | Hana Financial Group, Inc. | &nbsp;&nbsp; 2796629 |
| 66311 | LG Corp. | &nbsp;&nbsp; 3911052 |
| 62540 | Samsung Electronics Co., Ltd. | &nbsp;&nbsp; 2771111 |
|  |  | &nbsp;&nbsp; 11216993 |
|  | **Sweden—2.4%** | **Sweden—2.4%** |
| 16000 | Autoliv, Inc. | &nbsp;&nbsp; 1790400 |
| 73983 | Trelleborg AB, Class B | &nbsp;&nbsp; 2733297 |
|  |  | &nbsp;&nbsp; 4523697 |
|  | **Switzerland—7.2%** | **Switzerland—7.2%** |
| 51845 | Nestlé SA, Registered | &nbsp;&nbsp; 5134348 |
| 32551 | Novartis AG, Registered | &nbsp;&nbsp; 3932701 |
| 13870 | Roche Holding AG | &nbsp;&nbsp; 4502523 |
|  |  | &nbsp;&nbsp; 13569572 |
|  | **United Kingdom—16.7%** | **United Kingdom—16.7%** |
| 207677 | BAE Systems plc | &nbsp;&nbsp; 5368794 |
| 280000 | CNH Industrial NV | &nbsp;&nbsp; 3628800 |
| 71505 | Computacenter plc | &nbsp;&nbsp; 2351685 |
| 201529 | CVS Group plc | &nbsp;&nbsp; 3452066 |
| 124793 | Diageo plc | &nbsp;&nbsp; 3126064 |
| 229117 | Grafton Group plc | &nbsp;&nbsp; 3208778 |
| 281060 | Inchcape plc | &nbsp;&nbsp; 2796193 |
| 1504280 | Johnson Service Group plc | &nbsp;&nbsp; 3133313 |
| 587870 | Pets at Home Group plc | &nbsp;&nbsp; 2110640 |
| 2741248 | Vertu Motors plc | &nbsp;&nbsp; 2385358 |
|  |  | &nbsp;&nbsp; 31561691 |

---

------

 SEE NOTES TO PORTFOLIO OF INVESTMENTS

------

**7**

------

**Tweedy, Browne International Value Fund II - Currency Unhedged**

------

***Portfolio of Investments***

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value\*** |
|  | **United States—1.5%** | **United States—1.5%** |
| 60342 | Ionis Pharmaceuticals, Inc.<sup>(a)</sup> | &nbsp;&nbsp; $2384112 |
| 2849 | Johnson & Johnson | &nbsp;&nbsp; 435185 |
|  |  | &nbsp;&nbsp; 2819297 |
| **TOTAL COMMON STOCKS** <br>(Cost $125,606,103) | **TOTAL COMMON STOCKS** <br>(Cost $125,606,103) | &nbsp;&nbsp; 171387527 |
| **PREFERRED STOCKS—1.3%** | **PREFERRED STOCKS—1.3%** | **PREFERRED STOCKS—1.3%** |
|  | **Chile—0.9%** | **Chile—0.9%** |
| 502909 | &nbsp;&nbsp;&nbsp; Embotelladora Andina SA, Class A <br>(Cost $1,426,482) | &nbsp;&nbsp; 1669997 |
|  | **Germany—0.4%** | **Germany—0.4%** |
| 648 | &nbsp;&nbsp;&nbsp; KSB AG <br>(Cost $341,191) | &nbsp;&nbsp; 667855 |
| **TOTAL PREFERRED STOCKS** <br>(Cost $1,767,673) | **TOTAL PREFERRED STOCKS** <br>(Cost $1,767,673) | &nbsp;&nbsp; 2337852 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Shares** |  |  | **Value\*** |
| **REGISTERED INVESTMENT COMPANY—4.3%** | **REGISTERED INVESTMENT COMPANY—4.3%** | **REGISTERED INVESTMENT COMPANY—4.3%** | **REGISTERED INVESTMENT COMPANY—4.3%** |
| 8157869 | &nbsp;&nbsp;&nbsp; Dreyfus Government Securities Cash <br> Management– Institutional Shares <br> 4.09%<sup>(b)</sup> <br>(Cost $8,157,869) | &nbsp;&nbsp;&nbsp; Dreyfus Government Securities Cash <br> Management– Institutional Shares <br> 4.09%<sup>(b)</sup> <br>(Cost $8,157,869) | &nbsp;&nbsp; $8157869 |
| **INVESTMENTS IN SECURITIES** <br>**(Cost $135,531,645)** | **INVESTMENTS IN SECURITIES** <br>**(Cost $135,531,645)** | 96.3<br> %<br>| &nbsp;&nbsp; 181883248 |
| **OTHER ASSETS** <br>**AND LIABILITIES (Net)** | **OTHER ASSETS** <br>**AND LIABILITIES (Net)** | 3.7 | &nbsp;&nbsp; 7037575 |
| **NET ASSETS** | **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $188920823 |

---

------

\* See Note 1 in Notes to Portfolio of Investments. <br> (a) Non-income producing security. <br> (b) Rate disclosed is the 7-day yield at June 30, 2025.

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

Abbreviations: <br> ADR — American Depositary Receipt

------

 SEE NOTES TO PORTFOLIO OF INVESTMENTS

------

**8**

------

**Tweedy, Browne International Value Fund II - Currency Unhedged**

------

***Sector Diversification***

June 30, 2025 (Unaudited)

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

---

| | |
|:---|:---|
| **Sector Diversification** | **Percentage of** <br>**Net Assets**<br>|
| **COMMON STOCKS** |  |
| Chemicals | 10.7<br> %<br>|
| Aerospace & Defense | 8.0 |
| Machinery | 5.9 |
| Beverages | 5.9 |
| Trading Companies & Distributors | 4.8 |
| Pharmaceuticals | 4.7 |
| Food Products | 4.4 |
| Banks | 4.4 |
| Insurance | 3.9 |
| IT Services | 3.2 |
| Air Freight & Logistics | 3.1 |
| Health Care Providers & Services | 2.9 |
| Professional Services | 2.7 |
| Containers & Packaging | 2.7 |
| Industrial Conglomerates | 2.7 |
| Specialty Retail | 2.5 |
| Automobile Components | 2.2 |
| Gas Utilities | 2.1 |
| Oil, Gas & Consumable Fuels | 2.0 |
| Commercial Services & Supplies | 1.7 |
| Media | 1.6 |
| Distributors | 1.5 |
| Technology Hardware, Storage & Peripherals | 1.4 |
| Automobiles | 1.3 |
| Biotechnology | 1.3 |
| Health Care Equipment & Supplies | 1.0 |
| Textiles, Apparel & Luxury Goods | 0.9 |
| Construction & Engineering | 0.8 |
| Real Estate Management & Development | 0.4 |
| **Total Common Stocks** | 90.7 |
| **Preferred Stocks** | 1.3 |
| **Registered Investment Company** | 4.3 |
| **Other Assets and Liabilities (Net)** | 3.7 |
| **Net Assets** | 100.0<br> %<br>|

---

------

 SEE NOTES TO PORTFOLIO OF INVESTMENTS

------

**9**

------

**Tweedy, Browne International Value Fund II - Currency Unhedged**

------

***Portfolio Composition***

June 30, 2025 (Unaudited)

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

---

| | |
|:---|:---|
| **Portfolio Composition** | **Percentage of** <br>**Net Assets**<br>|
| United Kingdom | 17<br> %<br>|
| Japan | 13 |
| France | 12 |
| Switzerland | 7 |
| South Korea | 6 |
| Germany | 6 |
| Canada | 6 |
| Finland | 4 |
| Other Countries<sup>(a)</sup> | 21 |
| &nbsp;&nbsp;&nbsp; Money Market Funds and Other Assets <br>and Liabilities (Net)<br>| 8 |
| **Total** | 100<br> %<br>|

---

------

<sup>(a)</sup> "Other Countries" include Belgium, Chile, China, Hong Kong, Italy, Mexico, Netherlands, Philippines, Singapore, Sweden and United States

------

 SEE NOTES TO PORTFOLIO OF INVESTMENTS

------

**10**

------

**Tweedy, Browne Value Fund**

------

***Portfolio of Investments***

June 30, 2025 (Unaudited)

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

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value\*** |
| **COMMON STOCKS—94.9%** | **COMMON STOCKS—94.9%** | **COMMON STOCKS—94.9%** |
|  | **Belgium—1.2%** | **Belgium—1.2%** |
| 206110 | Azelis Group NV | &nbsp;&nbsp; $3273478 |
| 66181 | Fagron NV | &nbsp;&nbsp; 1744064 |
|  |  | &nbsp;&nbsp; 5017542 |
|  | **Canada—2.0%** | **Canada—2.0%** |
| 18010 | Lassonde Industries, Inc., Class A | &nbsp;&nbsp; 2753306 |
| 180543 | Winpak, Ltd. | &nbsp;&nbsp; 5906515 |
|  |  | &nbsp;&nbsp; 8659821 |
|  | **China—2.8%** | **China—2.8%** |
| 231680 | Baidu, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 2462891 |
| 1006590 | Haitian International Holdings, Ltd. | &nbsp;&nbsp; 2615852 |
| 345561 | &nbsp;&nbsp;&nbsp; Shanghai Mechanical and Electrical <br> Industry Co., Ltd., Class B | &nbsp;&nbsp; 380808 |
| 2349905 | Uni-President China Holdings, Ltd. | &nbsp;&nbsp; 2843834 |
| 215487 | Wuliangye Yibin Co., Ltd., Class A | &nbsp;&nbsp; 3575662 |
|  |  | &nbsp;&nbsp; 11879047 |
|  | **Finland—1.5%** | **Finland—1.5%** |
| 276019 | Kemira Oyj | &nbsp;&nbsp; 6373176 |
|  | **France—14.0%** | **France—14.0%** |
| 73222 | Alten SA | &nbsp;&nbsp; 6399100 |
| 61785 | Arkema SA | &nbsp;&nbsp; 4536521 |
| 299826 | Rubis SCA | &nbsp;&nbsp; 9650490 |
| 45032 | Safran SA | &nbsp;&nbsp; 14584298 |
| 12410 | Sopra Steria Group | &nbsp;&nbsp; 3012555 |
| 78235 | Teleperformance SE | &nbsp;&nbsp; 7559952 |
| 236380 | TotalEnergies SE | &nbsp;&nbsp; 14456430 |
|  |  | &nbsp;&nbsp; 60199346 |
|  | **Germany—5.9%** | **Germany—5.9%** |
| 54875 | Brenntag SE | &nbsp;&nbsp; 3620124 |
| 190881 | DHL Group | &nbsp;&nbsp; 8785615 |
| 94730 | Fresenius SE & Co., KGaA | &nbsp;&nbsp; 4745965 |
| 3968 | Rheinmetall AG | &nbsp;&nbsp; 8370133 |
|  |  | &nbsp;&nbsp; 25521837 |
|  | **Hong Kong—2.4%** | **Hong Kong—2.4%** |
| 1046000 | &nbsp;&nbsp;&nbsp; Chow Sang Sang Holdings <br> International, Ltd. | &nbsp;&nbsp; 1135276 |
| 214000 | Luk Fook Holdings International, Ltd. | &nbsp;&nbsp; 546586 |
| 692967 | Prudential plc | &nbsp;&nbsp; 8666117 |
|  |  | &nbsp;&nbsp; 10347979 |
|  | **Japan—8.4%** | **Japan—8.4%** |
| 110975 | ADEKA Corp. | &nbsp;&nbsp; 2118931 |
| 94205 | Fuso Chemical Co., Ltd. | &nbsp;&nbsp; 2523960 |
| 37260 | Hosokawa Micron Corp. | &nbsp;&nbsp; 1280736 |
| 36595 | Inaba Denki Sangyo Co., Ltd. | &nbsp;&nbsp; 1002755 |
| 352585 | Kanadevia Corp. | &nbsp;&nbsp; 2379940 |
| 160830 | Koito Manufacturing Co., Ltd. | &nbsp;&nbsp; 1920117 |
| 148315 | Mitsubishi Gas Chemical Co., Inc. | &nbsp;&nbsp; 2274858 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value\*** |
|  | **Japan (continued)** | **Japan (continued)** |
| 166240 | Nakanishi, Inc. | &nbsp;&nbsp; $2182083 |
| 86160 | Nifco, Inc. | &nbsp;&nbsp; 2039996 |
| 139680 | Nippon Sanso Holdings Corp. | &nbsp;&nbsp; 5282785 |
| 28005 | Okamoto Industries, Inc. | &nbsp;&nbsp; 933532 |
| 80005 | Shoei Co., Ltd. | &nbsp;&nbsp; 963749 |
| 250250 | Subaru Corp. | &nbsp;&nbsp; 4358087 |
| 77040 | Taikisha, Ltd. | &nbsp;&nbsp; 1376581 |
| 225715 | Takara Holdings, Inc. | &nbsp;&nbsp; 1872038 |
| 87100 | Transcosmos, Inc. | &nbsp;&nbsp; 2110492 |
| 99120 | YAMABIKO Corp. | &nbsp;&nbsp; 1457516 |
|  |  | &nbsp;&nbsp; 36078156 |
|  | **Mexico—1.2%** | **Mexico—1.2%** |
| 54420 | &nbsp;&nbsp;&nbsp; Coca-Cola FEMSA SAB de CV, <br> Sponsored ADR | &nbsp;&nbsp; 5264047 |
|  | **Netherlands—2.8%** | **Netherlands—2.8%** |
| 113350 | Aalberts NV | &nbsp;&nbsp; 4092800 |
| 107573 | Heineken Holding NV | &nbsp;&nbsp; 7986866 |
|  |  | &nbsp;&nbsp; 12079666 |
|  | **Philippines—0.2%** | **Philippines—0.2%** |
| 6542900 | Alliance Global Group, Inc. | &nbsp;&nbsp; 1047700 |
|  | **Singapore—2.4%** | **Singapore—2.4%** |
| 371712 | United Overseas Bank, Ltd. | &nbsp;&nbsp; 10506522 |
|  | **South Korea—4.0%** | **South Korea—4.0%** |
| 16075 | DB Insurance Co., Ltd. | &nbsp;&nbsp; 1468618 |
| 11335 | Dentium Co., Ltd. | &nbsp;&nbsp; 518205 |
| 95475 | Hana Financial Group, Inc. | &nbsp;&nbsp; 6105137 |
| 70858 | LG Corp. | &nbsp;&nbsp; 4179236 |
| 61295 | LX Holdings Corp. | &nbsp;&nbsp; 435096 |
| 105905 | Samsung Electronics Co., Ltd. | &nbsp;&nbsp; 4692590 |
|  |  | &nbsp;&nbsp; 17398882 |
|  | **Sweden—1.7%** | **Sweden—1.7%** |
| 26854 | Autoliv, Inc. | &nbsp;&nbsp; 3004962 |
| 111490 | Trelleborg AB, Class B | &nbsp;&nbsp; 4118991 |
|  |  | &nbsp;&nbsp; 7123953 |
|  | **Switzerland—7.4%** | **Switzerland—7.4%** |
| 111780 | Nestlé SA, ADR | &nbsp;&nbsp; 11101989 |
| 50749 | Novartis AG, Registered | &nbsp;&nbsp; 6131321 |
| 44523 | Roche Holding AG | &nbsp;&nbsp; 14453195 |
|  |  | &nbsp;&nbsp; 31686505 |
|  | **United Kingdom—12.1%** | **United Kingdom—12.1%** |
| 389775 | BAE Systems plc | &nbsp;&nbsp; 10076328 |
| 650620 | CNH Industrial NV | &nbsp;&nbsp; 8432035 |
| 150005 | Computacenter plc | &nbsp;&nbsp; 4933424 |
| 350760 | CVS Group plc | &nbsp;&nbsp; 6008300 |
| 60640 | Diageo plc, Sponsored ADR | &nbsp;&nbsp; 6114938 |
| 223196 | Grafton Group plc | &nbsp;&nbsp; 3125855 |
| 252750 | Howden Joinery Group plc | &nbsp;&nbsp; 2964807 |
| 282425 | Inchcape plc | &nbsp;&nbsp; 2809773 |

---

------

 SEE NOTES TO PORTFOLIO OF INVESTMENTS

------

**11**

------

**Tweedy, Browne Value Fund**

------

***Portfolio of Investments***

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value\*** |
|  | **United Kingdom (continued)** | **United Kingdom (continued)** |
| 1269763 | Johnson Service Group plc | &nbsp;&nbsp; $2644830 |
| 1396111 | Pets at Home Group plc | &nbsp;&nbsp; 5012481 |
|  |  | &nbsp;&nbsp; 52122771 |
|  | **United States—24.9%** | **United States—24.9%** |
| 44321 | Alphabet, Inc., Class A | &nbsp;&nbsp; 7810690 |
| 48220 | Atmus Filtration Technologies, Inc. | &nbsp;&nbsp; 1756173 |
| 1510 | AutoZone, Inc.<sup>(a)</sup> | &nbsp;&nbsp; 5605467 |
| 76760 | Bank of America Corp. | &nbsp;&nbsp; 3632283 |
| 14 | Berkshire Hathaway, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 10203200 |
| 15000 | Berkshire Hathaway, Inc., Class B<sup>(a)</sup> | &nbsp;&nbsp; 7286550 |
| 107535 | Enterprise Products Partners LP | &nbsp;&nbsp; 3334660 |
| 372000 | Envista Holdings Corp.<sup>(a)</sup> | &nbsp;&nbsp; 7268880 |
| 35160 | FedEx Corp. | &nbsp;&nbsp; 7992220 |
| 190425 | Ionis Pharmaceuticals, Inc.<sup>(a)</sup> | &nbsp;&nbsp; 7523692 |
| 50481 | Johnson & Johnson | &nbsp;&nbsp; 7710973 |
| 150612 | Sealed Air Corp. | &nbsp;&nbsp; 4673490 |
| 110450 | Truist Financial Corp. | &nbsp;&nbsp; 4748246 |
| 122928 | U-Haul Holding Co. | &nbsp;&nbsp; 6683595 |
| 14241 | Vertex Pharmaceuticals, Inc.<sup>(a)</sup> | &nbsp;&nbsp; 6340093 |
| 183801 | Wells Fargo & Co. | &nbsp;&nbsp; 14726136 |
|  |  | &nbsp;&nbsp; 107296348 |
| **TOTAL COMMON STOCKS** <br>(Cost $257,292,668) | **TOTAL COMMON STOCKS** <br>(Cost $257,292,668) | &nbsp;&nbsp; 408603298 |
| **PREFERRED STOCK—0.4%** | **PREFERRED STOCK—0.4%** | **PREFERRED STOCK—0.4%** |
|  | **Chile—0.4%** | **Chile—0.4%** |
| 492000 | &nbsp;&nbsp;&nbsp; Embotelladora Andina SA, Class A <br>(Cost $918,376) | &nbsp;&nbsp; 1633772 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value\*** |
| **REGISTERED INVESTMENT COMPANY—5.2%** | **REGISTERED INVESTMENT COMPANY—5.2%** | **REGISTERED INVESTMENT COMPANY—5.2%** |
| 22697688 | &nbsp;&nbsp;&nbsp; Dreyfus Government Securities Cash <br> Management– Institutional Shares <br> 4.09%<sup>(b)</sup> <br>(Cost $22,697,688) | &nbsp;&nbsp; $22697688 |

---

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

---

| | | | |
|:---|:---|:---|:---|
| **Face Value** |  |  |  |
| **U.S. TREASURY BILL—0.9%** | **U.S. TREASURY BILL—0.9%** | **U.S. TREASURY BILL—0.9%** | **U.S. TREASURY BILL—0.9%** |
| $4000000 | &nbsp;&nbsp;&nbsp; 4.266%<sup>(c)</sup> due 08/28/2025 <br>(Cost $3,972,869) | &nbsp;&nbsp;&nbsp; 4.266%<sup>(c)</sup> due 08/28/2025 <br>(Cost $3,972,869) | &nbsp;&nbsp; 3972054 |
| **INVESTMENTS IN SECURITIES** <br>**(Cost $284,881,601)** | **INVESTMENTS IN SECURITIES** <br>**(Cost $284,881,601)** | 101.4<br> %<br>| &nbsp;&nbsp; 436906812 |

---

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

---

| | | |
|:---|:---|:---|
| **UNREALIZED DEPRECIATION ON** <br>**FORWARD CONTRACTS (Net)** | (1.9)<br>| (8365137) |
| **OTHER ASSETS** <br>**AND LIABILITIES (Net)** | 0.5 | &nbsp;&nbsp; 2097290 |
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $430638965 |

---

------

\* See Note 1 in Notes to Portfolio of Investments.

(a) Non-income producing security.

(b) Rate disclosed is the 7-day yield at June 30, 2025.

(c) Rate represents annualized yield at date of purchase.

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

Abbreviations: <br> ADR — American Depositary Receipt

------

 SEE NOTES TO PORTFOLIO OF INVESTMENTS

------

**12**

------

**Tweedy, Browne Value Fund**

------

***Sector Diversification***

June 30, 2025 (Unaudited)

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

---

| | |
|:---|:---|
| **Sector Diversification** | **Percentage of** <br>**Net Assets**<br>|
| **COMMON STOCKS** |  |
| Banks | 9.1<br> %<br>|
| Aerospace & Defense | 7.7 |
| Pharmaceuticals | 6.6 |
| Machinery | 6.3 |
| Beverages | 5.7 |
| Chemicals | 5.5 |
| Oil, Gas & Consumable Fuels | 4.2 |
| Financial Services | 4.1 |
| Air Freight & Logistics | 3.9 |
| Food Products | 3.9 |
| IT Services | 3.3 |
| Trading Companies & Distributors | 3.2 |
| Biotechnology | 3.2 |
| Health Care Providers & Services | 2.9 |
| Specialty Retail | 2.6 |
| Containers & Packaging | 2.5 |
| Interactive Media & Services | 2.4 |
| Insurance | 2.3 |
| Health Care Equipment & Supplies | 2.3 |
| Professional Services | 2.3 |
| Gas Utilities | 2.2 |
| Automobile Components | 1.9 |
| Ground Transportation | 1.5 |
| Industrial Conglomerates | 1.3 |
| Technology Hardware, Storage & Peripherals | 1.1 |
| Automobiles | 1.0 |
| Distributors | 0.7 |
| Commercial Services & Supplies | 0.6 |
| Construction & Engineering | 0.3 |
| Textiles, Apparel & Luxury Goods | 0.3 |
| **Total Common Stocks** | 94.9 |
| **Preferred Stock** | 0.4 |
| **Registered Investment Company** | 5.2 |
| **U.S. Treasury Bill** | 0.9 |
| **Unrealized Depreciation on Forward Contracts** | (1.9)<br>|
| **Other Assets and Liabilities (Net)** | 0.5 |
| **Net Assets** | 100.0<br> %<br>|

---

------

 SEE NOTES TO PORTFOLIO OF INVESTMENTS

------

**13**

------

**Tweedy, Browne Value Fund**

------

***Portfolio Composition***

June 30, 2025 (Unaudited)

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

---

| | |
|:---|:---|
| **Portfolio Composition** | **Percentage of** <br>**Net Assets**<br>|
| United States | 25<br> %<br>|
| France | 14 |
| United Kingdom | 12 |
| Japan | 8 |
| Switzerland | 7 |
| Germany | 6 |
| South Korea | 4 |
| Netherlands | 3 |
| Other Countries<sup>(a)</sup> | 16 |
| &nbsp;&nbsp;&nbsp; Money Market Funds, Treasury Bill and <br>Other Assets and Liabilities (Net)<sup>(b)</sup><br>| 5 |
| **Total** | 100<br> %<br>|

---

------

<sup>(a)</sup> "Other Countries" include Belgium, Canada, Chile, China, Finland, Hong Kong, Mexico, Philippines, Singapore and Sweden <br> <sup>(b)</sup> Includes Unrealized Depreciation on Forward Contracts (Net)

------

 SEE NOTES TO PORTFOLIO OF INVESTMENTS

------

**14**

------

**Tweedy, Browne Value Fund**

------

***Schedule of Forward Exchange Contracts***

June 30, 2025 (Unaudited)

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts** |  | **Counter-** <br>**party**<br>| **Settlement** <br>**Date**<br>| **Contract Value on** <br>**Origination Date**<br>| **Value 06/30/25\*** | **Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>|
| **FORWARD EXCHANGE CONTRACTS TO SELL**<sup>(a)</sup> | **FORWARD EXCHANGE CONTRACTS TO SELL**<sup>(a)</sup> |  |  |  |  |  |
| 630000 | Canadian Dollar | SSB | &nbsp;&nbsp; 9/9/25 | &nbsp;&nbsp; $(471169)<br>| &nbsp;&nbsp; $(463347)<br>| &nbsp;&nbsp; $7822 |
| 2600000 | Canadian Dollar | SSB | &nbsp;&nbsp; 1/16/26 | &nbsp;&nbsp; (1828655)<br>| &nbsp;&nbsp; (1923337)<br>| &nbsp;&nbsp; (94682)<br>|
| 450000 | Canadian Dollar | BNY | &nbsp;&nbsp; 6/26/26 | &nbsp;&nbsp; (334026)<br>| &nbsp;&nbsp; (334778)<br>| &nbsp;&nbsp; (752)<br>|
| 1040000000 | Chilean Peso | SSB | &nbsp;&nbsp; 8/14/25 | &nbsp;&nbsp; (1092437)<br>| &nbsp;&nbsp; (1114165)<br>| &nbsp;&nbsp; (21728)<br>|
| 435000000 | Chilean Peso | SSB | &nbsp;&nbsp; 6/26/26 | &nbsp;&nbsp; (460512)<br>| &nbsp;&nbsp; (464565)<br>| &nbsp;&nbsp; (4053)<br>|
| 34500000 | Chinese Yuan | JPM | &nbsp;&nbsp; 3/6/26 | &nbsp;&nbsp; (4857126)<br>| &nbsp;&nbsp; (4902187)<br>| &nbsp;&nbsp; (45061)<br>|
| 20000000 | Chinese Yuan | SSB | &nbsp;&nbsp; 5/15/26 | &nbsp;&nbsp; (2841515)<br>| &nbsp;&nbsp; (2854010)<br>| &nbsp;&nbsp; (12495)<br>|
| 10500000 | Chinese Yuan | JPM | &nbsp;&nbsp; 5/29/26 | &nbsp;&nbsp; (1499071)<br>| &nbsp;&nbsp; (1499639)<br>| &nbsp;&nbsp; (568)<br>|
| 3500000 | European Union Euro | NTC | &nbsp;&nbsp; 11/6/25 | &nbsp;&nbsp; (3848404)<br>| &nbsp;&nbsp; (4142813)<br>| &nbsp;&nbsp; (294409)<br>|
| 14200000 | European Union Euro | SSB | &nbsp;&nbsp; 2/19/26 | &nbsp;&nbsp; (14965763)<br>| &nbsp;&nbsp; (16908163)<br>| &nbsp;&nbsp; (1942400)<br>|
| 16000000 | European Union Euro | BNY | &nbsp;&nbsp; 5/29/26 | &nbsp;&nbsp; (18562400)<br>| &nbsp;&nbsp; (19148680)<br>| &nbsp;&nbsp; (586280)<br>|
| 12500000 | European Union Euro | BNY | &nbsp;&nbsp; 6/5/26 | &nbsp;&nbsp; (14456000)<br>| &nbsp;&nbsp; (14965306)<br>| &nbsp;&nbsp; (509306)<br>|
| 2500000 | Great Britain Pound Sterling | JPM | &nbsp;&nbsp; 7/28/25 | &nbsp;&nbsp; (3245575)<br>| &nbsp;&nbsp; (3426324)<br>| &nbsp;&nbsp; (180749)<br>|
| 4400000 | Great Britain Pound Sterling | NTC | &nbsp;&nbsp; 8/14/25 | &nbsp;&nbsp; (5583204)<br>| &nbsp;&nbsp; (6031053)<br>| &nbsp;&nbsp; (447849)<br>|
| 6400000 | Great Britain Pound Sterling | SSB | &nbsp;&nbsp; 1/30/26 | &nbsp;&nbsp; (7880768)<br>| &nbsp;&nbsp; (8778433)<br>| &nbsp;&nbsp; (897665)<br>|
| 4000000 | Great Britain Pound Sterling | SSB | &nbsp;&nbsp; 4/30/26 | &nbsp;&nbsp; (5309916)<br>| &nbsp;&nbsp; (5486463)<br>| &nbsp;&nbsp; (176547)<br>|
| 3300000 | Great Britain Pound Sterling | BNY | &nbsp;&nbsp; 5/29/26 | &nbsp;&nbsp; (4438078)<br>| &nbsp;&nbsp; (4526317)<br>| &nbsp;&nbsp; (88239)<br>|
| 4500000 | Hong Kong Dollar | BNY | &nbsp;&nbsp; 9/11/25 | &nbsp;&nbsp; (581022)<br>| &nbsp;&nbsp; (576900)<br>| &nbsp;&nbsp; 4122 |
| 6500000 | Hong Kong Dollar | SSB | &nbsp;&nbsp; 12/12/25 | &nbsp;&nbsp; (839116)<br>| &nbsp;&nbsp; (836670)<br>| &nbsp;&nbsp; 2446 |
| 5200000 | Hong Kong Dollar | SSB | &nbsp;&nbsp; 2/20/26 | &nbsp;&nbsp; (671267)<br>| &nbsp;&nbsp; (670711)<br>| &nbsp;&nbsp; 556 |
| 9200000 | Hong Kong Dollar | SSB | &nbsp;&nbsp; 4/9/26 | &nbsp;&nbsp; (1189023)<br>| &nbsp;&nbsp; (1188082)<br>| &nbsp;&nbsp; 941 |
| 2700000 | Hong Kong Dollar | JPM | &nbsp;&nbsp; 5/29/26 | &nbsp;&nbsp; (349517)<br>| &nbsp;&nbsp; (349117)<br>| &nbsp;&nbsp; 400 |
| 220000000 | Japanese Yen | JPM | &nbsp;&nbsp; 8/29/25 | &nbsp;&nbsp; (1581746)<br>| &nbsp;&nbsp; (1533692)<br>| &nbsp;&nbsp; 48054 |
| 145000000 | Japanese Yen | SSB | &nbsp;&nbsp; 9/9/25 | &nbsp;&nbsp; (1043585)<br>| &nbsp;&nbsp; (1011851)<br>| &nbsp;&nbsp; 31734 |
| 190000000 | Japanese Yen | BNY | &nbsp;&nbsp; 10/2/25 | &nbsp;&nbsp; (1373130)<br>| &nbsp;&nbsp; (1329249)<br>| &nbsp;&nbsp; 43881 |
| 105000000 | Japanese Yen | JPM | &nbsp;&nbsp; 1/13/26 | &nbsp;&nbsp; (695579)<br>| &nbsp;&nbsp; (742494)<br>| &nbsp;&nbsp; (46915)<br>|
| 470000000 | Japanese Yen | SSB | &nbsp;&nbsp; 2/19/26 | &nbsp;&nbsp; (3223041)<br>| &nbsp;&nbsp; (3333959)<br>| &nbsp;&nbsp; (110918)<br>|
| 300000000 | Japanese Yen | JPM | &nbsp;&nbsp; 3/30/26 | &nbsp;&nbsp; (2091124)<br>| &nbsp;&nbsp; (2135111)<br>| &nbsp;&nbsp; (43987)<br>|
| 485000000 | Japanese Yen | SSB | &nbsp;&nbsp; 4/7/26 | &nbsp;&nbsp; (3349780)<br>| &nbsp;&nbsp; (3454112)<br>| &nbsp;&nbsp; (104332)<br>|
| 140000000 | Japanese Yen | SSB | &nbsp;&nbsp; 4/30/26 | &nbsp;&nbsp; (1018217)<br>| &nbsp;&nbsp; (999017)<br>| &nbsp;&nbsp; 19200 |
| 145000000 | Japanese Yen | BNY | &nbsp;&nbsp; 5/29/26 | &nbsp;&nbsp; (1048408)<br>| &nbsp;&nbsp; (1037259)<br>| &nbsp;&nbsp; 11149 |
| 515000000 | Japanese Yen | JPM | &nbsp;&nbsp; 6/5/26 | &nbsp;&nbsp; (3692023)<br>| &nbsp;&nbsp; (3686263)<br>| &nbsp;&nbsp; 5760 |
| 140000000 | Japanese Yen | BNY | &nbsp;&nbsp; 6/26/26 | &nbsp;&nbsp; (1004665)<br>| &nbsp;&nbsp; (1003948)<br>| &nbsp;&nbsp; 717 |
| 415000000 | Japanese Yen | SSB | &nbsp;&nbsp; 7/6/26 | &nbsp;&nbsp; (2979999)<br>| &nbsp;&nbsp; (2978127)<br>| &nbsp;&nbsp; 1872 |
| 17000000 | Mexican Peso | BNY | &nbsp;&nbsp; 7/18/25 | &nbsp;&nbsp; (898853)<br>| &nbsp;&nbsp; (898033)<br>| &nbsp;&nbsp; 820 |
| 8200000 | Mexican Peso | SSB | &nbsp;&nbsp; 4/7/26 | &nbsp;&nbsp; (384703)<br>| &nbsp;&nbsp; (420506)<br>| &nbsp;&nbsp; (35803)<br>|
| 24000000 | Mexican Peso | JPM | &nbsp;&nbsp; 6/15/26 | &nbsp;&nbsp; (1199591)<br>| &nbsp;&nbsp; (1220789)<br>| &nbsp;&nbsp; (21198)<br>|
| 11800000 | Philippine Peso | JPM | &nbsp;&nbsp; 11/26/25 | &nbsp;&nbsp; (199123)<br>| &nbsp;&nbsp; (208818)<br>| &nbsp;&nbsp; (9695)<br>|
| 25900000 | Philippine Peso | SSB | &nbsp;&nbsp; 4/8/26 | &nbsp;&nbsp; (449887)<br>| &nbsp;&nbsp; (456924)<br>| &nbsp;&nbsp; (7037)<br>|
| 19500000 | Philippine Peso | SSB | &nbsp;&nbsp; 6/26/26 | &nbsp;&nbsp; (337662)<br>| &nbsp;&nbsp; (343419)<br>| &nbsp;&nbsp; (5757)<br>|
| 1900000 | Singapore Dollar | SSB | &nbsp;&nbsp; 11/24/25 | &nbsp;&nbsp; (1437659)<br>| &nbsp;&nbsp; (1507225)<br>| &nbsp;&nbsp; (69566)<br>|
| 10000000 | Singapore Dollar | SSB | &nbsp;&nbsp; 1/30/26 | &nbsp;&nbsp; (7490356)<br>| &nbsp;&nbsp; (7966757)<br>| &nbsp;&nbsp; (476401)<br>|
| 4500000000 | South Korean Won | JPM | &nbsp;&nbsp; 3/11/26 | &nbsp;&nbsp; (3138885)<br>| &nbsp;&nbsp; (3383447)<br>| &nbsp;&nbsp; (244562)<br>|
| 6600000000 | South Korean Won | JPM | &nbsp;&nbsp; 3/30/26 | &nbsp;&nbsp; (4579517)<br>| &nbsp;&nbsp; (4967251)<br>| &nbsp;&nbsp; (387734)<br>|
| 1000000000 | South Korean Won | SSB | &nbsp;&nbsp; 4/7/26 | &nbsp;&nbsp; (693193)<br>| &nbsp;&nbsp; (752924)<br>| &nbsp;&nbsp; (59731)<br>|
| 1390000000 | South Korean Won | JPM | &nbsp;&nbsp; 5/20/26 | &nbsp;&nbsp; (1000144)<br>| &nbsp;&nbsp; (1048891)<br>| &nbsp;&nbsp; (48747)<br>|
| 3400000000 | South Korean Won | JPM | &nbsp;&nbsp; 6/15/26 | &nbsp;&nbsp; (2564006)<br>| &nbsp;&nbsp; (2569086)<br>| &nbsp;&nbsp; (5080)<br>|
| 25000000 | Swedish Krona | NTC | &nbsp;&nbsp; 4/15/26 | &nbsp;&nbsp; (2594788)<br>| &nbsp;&nbsp; (2669559)<br>| &nbsp;&nbsp; (74771)<br>|
| 3700000 | Swedish Krona | BNY | &nbsp;&nbsp; 6/26/26 | &nbsp;&nbsp; (393785)<br>| &nbsp;&nbsp; (396626)<br>| &nbsp;&nbsp; (2841)<br>|
| 1000000 | Swiss Franc | SSB | &nbsp;&nbsp; 12/22/25 | &nbsp;&nbsp; (1171509)<br>| &nbsp;&nbsp; (1283721)<br>| &nbsp;&nbsp; (112212)<br>|
| 8800000 | Swiss Franc | JPM | &nbsp;&nbsp; 1/7/26 | &nbsp;&nbsp; (10180119)<br>| &nbsp;&nbsp; (11317497)<br>| &nbsp;&nbsp; (1137378)<br>|
| 1600000 | Swiss Franc | SSB | &nbsp;&nbsp; 4/7/26 | &nbsp;&nbsp; (1892186)<br>| &nbsp;&nbsp; (2077094)<br>| &nbsp;&nbsp; (184908)<br>|
| 1500000 | Swiss Franc | BNY | &nbsp;&nbsp; 6/15/26 | &nbsp;&nbsp; (1909174)<br>| &nbsp;&nbsp; (1961429)<br>| &nbsp;&nbsp; (52255)<br>|
| **TOTAL** | **TOTAL** |  |  | &nbsp;&nbsp; $(160921001)<br>| &nbsp;&nbsp; $(169286138)<br>| &nbsp;&nbsp; $(8365137)<br>|
| **Unrealized Depreciation on Forward Contracts (Net)** | **Unrealized Depreciation on Forward Contracts (Net)** |  |  |  |  | &nbsp;&nbsp; $(8365137)<br>|

---

------

<sup>\*</sup> See Note 1 in Notes to Portfolio of Investments. <br> <sup>(a)</sup> Primary risk exposure being hedged against is currency risk.

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

---

| | |
|:---|:---|
| ***Counterparty Abbreviations:*** | ***Counterparty Abbreviations:*** |
| BNY —  | The Bank of New York Mellon |
| JPM —  | JPMorgan Chase Bank NA |
| NTC —  | Northern Trust Company |
| SSB —  | State Street Bank and Trust Company |

---

------

 SEE NOTES TO PORTFOLIO OF INVESTMENTS

------

**15**

------

**Tweedy, Browne Worldwide High Dividend Yield Value Fund**

------

***Portfolio of Investments***

June 30, 2025 (Unaudited)

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

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value\*** |
| **COMMON STOCKS—88.5%** | **COMMON STOCKS—88.5%** | **COMMON STOCKS—88.5%** |
|  | **Belgium—1.2%** | **Belgium—1.2%** |
| 7175 | KBC Group NV | &nbsp;&nbsp; $738305 |
|  | **China—3.1%** | **China—3.1%** |
| 308710 | Haitian International Holdings, Ltd. | &nbsp;&nbsp; 802253 |
| 976845 | Uni-President China Holdings, Ltd. | &nbsp;&nbsp; 1182169 |
|  |  | &nbsp;&nbsp; 1984422 |
|  | **Finland—3.4%** | **Finland—3.4%** |
| 95220 | Kemira Oyj | &nbsp;&nbsp; 2198594 |
|  | **France—9.6%** | **France—9.6%** |
| 58430 | Rubis SCA | &nbsp;&nbsp; 1880684 |
| 6495 | Safran SA | &nbsp;&nbsp; 2103505 |
| 3235 | Sopra Steria Group | &nbsp;&nbsp; 785303 |
| 14570 | Teleperformance SE | &nbsp;&nbsp; 1407919 |
|  |  | &nbsp;&nbsp; 6177411 |
|  | **Germany—3.7%** | **Germany—3.7%** |
| 36145 | DHL Group | &nbsp;&nbsp; 1663634 |
| 1154 | &nbsp;&nbsp;&nbsp; Muenchener Rueckversicherungs AG, <br> Registered | &nbsp;&nbsp; 745855 |
|  |  | &nbsp;&nbsp; 2409489 |
|  | **Hong Kong—3.4%** | **Hong Kong—3.4%** |
| 407000 | Hang Lung Group, Ltd. | &nbsp;&nbsp; 708232 |
| 22115 | Jardine Matheson Holdings, Ltd. | &nbsp;&nbsp; 1062847 |
| 172775 | Luk Fook Holdings International, Ltd. | &nbsp;&nbsp; 441291 |
|  |  | &nbsp;&nbsp; 2212370 |
|  | **Japan—11.9%** | **Japan—11.9%** |
| 42370 | ADEKA Corp. | &nbsp;&nbsp; 809003 |
| 45315 | Inaba Denki Sangyo Co., Ltd. | &nbsp;&nbsp; 1241696 |
| 49105 | Isuzu Motors, Ltd. | &nbsp;&nbsp; 622290 |
| 56600 | Kuraray Co., Ltd. | &nbsp;&nbsp; 719035 |
| 48915 | Mitsubishi Gas Chemical Co., Inc. | &nbsp;&nbsp; 750259 |
| 36975 | Nippon Express Holdings, Inc. | &nbsp;&nbsp; 740422 |
| 49970 | Shoei Co., Ltd. | &nbsp;&nbsp; 601944 |
| 64635 | Subaru Corp. | &nbsp;&nbsp; 1125614 |
| 17685 | Sumitomo Heavy Industries, Ltd. | &nbsp;&nbsp; 362711 |
| 30400 | Transcosmos, Inc. | &nbsp;&nbsp; 736613 |
|  |  | &nbsp;&nbsp; 7709587 |
|  | **Mexico—3.3%** | **Mexico—3.3%** |
| 6845 | &nbsp;&nbsp;&nbsp; Coca-Cola FEMSA SAB de CV, Sponsored <br> ADR | &nbsp;&nbsp; 662117 |
| 531475 | Megacable Holdings SAB de CV | &nbsp;&nbsp; 1477226 |
|  |  | &nbsp;&nbsp; 2139343 |
|  | **Netherlands—3.1%** | **Netherlands—3.1%** |
| 36370 | Aalberts NV | &nbsp;&nbsp; 1313234 |
| 9560 | Heineken Holding NV | &nbsp;&nbsp; 709792 |
|  |  | &nbsp;&nbsp; 2023026 |
|  | **Singapore—5.0%** | **Singapore—5.0%** |
| 47884 | DBS Group Holdings, Ltd. | &nbsp;&nbsp; 1688431 |
| 55229 | United Overseas Bank, Ltd. | &nbsp;&nbsp; 1561060 |
|  |  | &nbsp;&nbsp; 3249491 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value\*** |
|  | **South Korea—3.4%** | **South Korea—3.4%** |
| 11110 | DB Insurance Co., Ltd. | &nbsp;&nbsp; $1015014 |
| 13365 | LG Corp. | &nbsp;&nbsp; 788274 |
| 53223 | LX Holdings Corp. | &nbsp;&nbsp; 377798 |
|  |  | &nbsp;&nbsp; 2181086 |
|  | **Sweden—3.4%** | **Sweden—3.4%** |
| 3000 | Autoliv, Inc. | &nbsp;&nbsp; 335700 |
| 30705 | SKF AB, Class B | &nbsp;&nbsp; 699452 |
| 31750 | Trelleborg AB, Class B | &nbsp;&nbsp; 1173001 |
|  |  | &nbsp;&nbsp; 2208153 |
|  | **Switzerland—12.8%** | **Switzerland—12.8%** |
| 28420 | Nestlé SA, Registered | &nbsp;&nbsp; 2814508 |
| 16072 | Novartis AG, Registered | &nbsp;&nbsp; 1941764 |
| 6570 | Roche Holding AG | &nbsp;&nbsp; 2132774 |
| 1947 | Zurich Insurance Group AG | &nbsp;&nbsp; 1356541 |
|  |  | &nbsp;&nbsp; 8245587 |
|  | **United Kingdom—14.4%** | **United Kingdom—14.4%** |
| 72171 | BAE Systems plc | &nbsp;&nbsp; 1865740 |
| 53710 | CNH Industrial NV | &nbsp;&nbsp; 696082 |
| 32215 | Computacenter plc | &nbsp;&nbsp; 1059500 |
| 68020 | Diageo plc | &nbsp;&nbsp; 1703901 |
| 40695 | Grafton Group plc | &nbsp;&nbsp; 569933 |
| 47690 | Howden Joinery Group plc | &nbsp;&nbsp; 559413 |
| 133180 | Inchcape plc | &nbsp;&nbsp; 1324973 |
| 315729 | Pets at Home Group plc | &nbsp;&nbsp; 1133567 |
| 120610 | SThree plc | &nbsp;&nbsp; 404104 |
|  |  | &nbsp;&nbsp; 9317213 |
|  | **United States—6.8%** | **United States—6.8%** |
| 11200 | Bank of America Corp. | &nbsp;&nbsp; 529984 |
| 900 | Enterprise Products Partners LP | &nbsp;&nbsp; 27909 |
| 27445 | FMC Corp. | &nbsp;&nbsp; 1145829 |
| 30645 | Truist Financial Corp. | &nbsp;&nbsp; 1317429 |
| 30030 | U.S. Bancorp | &nbsp;&nbsp; 1358857 |
|  |  | &nbsp;&nbsp; 4380008 |
| **TOTAL COMMON STOCKS** <br>(Cost $41,405,853) | **TOTAL COMMON STOCKS** <br>(Cost $41,405,853) | &nbsp;&nbsp; 57174085 |
| **REGISTERED INVESTMENT COMPANY—11.0%** | **REGISTERED INVESTMENT COMPANY—11.0%** | **REGISTERED INVESTMENT COMPANY—11.0%** |
| 7078996 | &nbsp;&nbsp;&nbsp; Dreyfus Government Securities Cash <br> Management– Institutional Shares <br> 4.09%<sup>(a)</sup> <br>(Cost $7,078,996) | &nbsp;&nbsp; 7078996 |
| **INVESTMENTS IN SECURITIES** <br>**(Cost $48,484,849)** | 99.5<br> %<br>| &nbsp;&nbsp; 64253081 |
| **OTHER ASSETS** <br>**AND LIABILITIES (Net)** | 0.5 | &nbsp;&nbsp; 346857 |
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $64599938 |

---

------

\* See Note 1 in Notes to Portfolio of Investments. <br> (a) Rate disclosed is the 7-day yield at June 30, 2025.

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

Abbreviations: <br> ADR — American Depositary Receipt

------

 SEE NOTES TO PORTFOLIO OF INVESTMENTS

------

**16**

------

**Tweedy, Browne Worldwide High Dividend Yield Value Fund**

------

***Sector Diversification***

June 30, 2025 (Unaudited)

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

---

| | |
|:---|:---|
| **Sector Diversification** | **Percentage of** <br>**Net Assets**<br>|
| **COMMON STOCKS** |  |
| Banks | 11.1<br> %<br>|
| Chemicals | 8.8 |
| Machinery | 7.9 |
| Pharmaceuticals | 6.3 |
| Food Products | 6.2 |
| Aerospace & Defense | 6.2 |
| Insurance | 4.8 |
| Beverages | 4.7 |
| Professional Services | 3.9 |
| Air Freight & Logistics | 3.7 |
| Trading Companies & Distributors | 3.7 |
| Industrial Conglomerates | 3.4 |
| Gas Utilities | 2.9 |
| IT Services | 2.8 |
| Automobiles | 2.7 |
| Specialty Retail | 2.5 |
| Media | 2.3 |
| Distributors | 2.0 |
| Automobile Components | 1.4 |
| Real Estate Management & Development | 1.1 |
| Oil, Gas & Consumable Fuels | 0.1 |
| **Total Common Stocks** | 88.5 |
| **Registered Investment Company** | 11.0 |
| **Other Assets and Liabilities (Net)** | 0.5 |
| **Net Assets** | 100.0<br> %<br>|

---

------

 SEE NOTES TO PORTFOLIO OF INVESTMENTS

------

**17**

------

**Tweedy, Browne Worldwide High Dividend Yield Value Fund**

------

***Portfolio Composition***

June 30, 2025 (Unaudited)

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

---

| | |
|:---|:---|
| **Portfolio Composition** | **Percentage of** <br>**Net Assets**<br>|
| United Kingdom | 14<br> %<br>|
| Switzerland | 13 |
| Japan | 12 |
| France | 10 |
| United States | 7 |
| Singapore | 5 |
| Germany | 4 |
| Hong Kong | 4 |
| Other Countries<sup>(a)</sup> | 19 |
| &nbsp;&nbsp;&nbsp; Money Market Funds and Other Assets <br>and Liabilities (Net)<br>| 12 |
| **Total** | 100<br> %<br>|

---

------

<sup>(a)</sup> "Other Countries" include Belgium, China, Finland, Mexico, Netherlands, South Korea and Sweden

------

 SEE NOTES TO PORTFOLIO OF INVESTMENTS

------

**18**

------

TWEEDY, BROWNE FUND INC.

------

Notes to Portfolio of Investments (Unaudited)

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

**1. Valuation and Investment Practices**

**Portfolio Valuation.** Tweedy, Browne Fund Inc. (the "Company") consists of four series: 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 (collectively the "Funds"). 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 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 - quoted prices in active markets for identical securities

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, credit risk, etc.)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 - significant unobservable inputs (including a Fund's own assumptions in determining the fair value of investments)

------

**19**

------

TWEEDY, BROWNE FUND INC.

------

Notes to Portfolio of Investments (Unaudited)

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 June 30, 2025. See each Fund's respective Portfolio of Investments for details on portfolio holdings.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **International Value Fund** | **Total** <br>**Value at** <br>**June 30, 2025**<br>| **Level 1** <br>**Quoted** <br>**Price**<br>| **Level 2** <br>**Other** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Investments in Securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks | &nbsp;&nbsp; $4282030368 | &nbsp;&nbsp; $4282030368 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |
| &nbsp;&nbsp;&nbsp; Preferred Stocks | &nbsp;&nbsp; 39448504 | &nbsp;&nbsp; 39448504 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Registered Investment Company | &nbsp;&nbsp; 248907725 | &nbsp;&nbsp; 248907725 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bill | &nbsp;&nbsp; 49947646 | &nbsp;&nbsp; — | &nbsp;&nbsp; 49947646 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Total Investments in Securities | &nbsp;&nbsp; 4620334243 | &nbsp;&nbsp; 4570386597 | &nbsp;&nbsp; 49947646 | &nbsp;&nbsp; — |
| Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Asset |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation of forward exchange contracts | &nbsp;&nbsp; 9619868 | &nbsp;&nbsp; — | &nbsp;&nbsp; 9619868 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Liability |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation of forward exchange contracts | &nbsp;&nbsp; (126829180)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (126829180)<br>| &nbsp;&nbsp; — |
| **Total** | &nbsp;&nbsp; $4503124931 | &nbsp;&nbsp; $4570386597 | &nbsp;&nbsp; $(67261666)<br>| &nbsp;&nbsp; $— |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **International Value Fund II - Currency Unhedged** | **Total** <br>**Value at** <br>**June 30, 2025**<br>| **Level 1** <br>**Quoted** <br>**Price**<br>| **Level 2** <br>**Other** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Investments in Securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks | &nbsp;&nbsp; $171387527 | &nbsp;&nbsp; $171387527 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |
| &nbsp;&nbsp;&nbsp; Preferred Stocks | &nbsp;&nbsp; 2337852 | &nbsp;&nbsp; 2337852 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Registered Investment Company | &nbsp;&nbsp; 8157869 | &nbsp;&nbsp; 8157869 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| **Total** | &nbsp;&nbsp; $181883248 | &nbsp;&nbsp; $181883248 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Value Fund** | **Total** <br>**Value at** <br>**June 30, 2025**<br>| **Level 1** <br>**Quoted** <br>**Price**<br>| **Level 2** <br>**Other** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Investments in Securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks | &nbsp;&nbsp; $408603298 | &nbsp;&nbsp; $408603298 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |
| &nbsp;&nbsp;&nbsp; Preferred Stock | &nbsp;&nbsp; 1633772 | &nbsp;&nbsp; 1633772 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Registered Investment Company | &nbsp;&nbsp; 22697688 | &nbsp;&nbsp; 22697688 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bill | &nbsp;&nbsp; 3972054 | &nbsp;&nbsp; — | &nbsp;&nbsp; 3972054 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Total Investments in Securities | &nbsp;&nbsp; 436906812 | &nbsp;&nbsp; 432934758 | &nbsp;&nbsp; 3972054 | &nbsp;&nbsp; — |
| Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Asset |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation of forward exchange contracts | &nbsp;&nbsp; 179474 | &nbsp;&nbsp; — | &nbsp;&nbsp; 179474 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Liability |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation of forward exchange contracts | &nbsp;&nbsp; (8544611)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (8544611)<br>| &nbsp;&nbsp; — |
| **Total** | &nbsp;&nbsp; $428541675 | &nbsp;&nbsp; $432934758 | &nbsp;&nbsp; $(4393083)<br>| &nbsp;&nbsp; $— |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Worldwide High Dividend Yield Value Fund** | **Total** <br>**Value at** <br>**June 30, 2025**<br>| **Level 1** <br>**Quoted** <br>**Price**<br>| **Level 2** <br>**Other** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Investments in Securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks | &nbsp;&nbsp; $57174085 | &nbsp;&nbsp; $57174085 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |
| &nbsp;&nbsp;&nbsp; Registered Investment Company | &nbsp;&nbsp; 7078996 | &nbsp;&nbsp; 7078996 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| **Total** | &nbsp;&nbsp; $64253081 | &nbsp;&nbsp; $64253081 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |

---

------

**20**

------

TWEEDY, BROWNE FUND INC.

------

Notes to Portfolio of Investments (Unaudited)

**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. When the contract is closed, each Fund records a realized gain or loss 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. 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. Collateral received by a Fund is held in escrow in the Fund's custodian bank.

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 and Value Funds could be exposed to risks if the counterparties to the contracts are unable to meet the terms of their contracts.

**Securities Transactions.** Securities transactions are recorded as of the trade date. Realized gains and losses from securities transactions are recorded on the identified cost basis.

The Investment Company Act of 1940, as amended, defines "affiliated companies" to include securities in which a fund owns 5% or more of the outstanding voting shares of an issuer. The following chart lists the issuers owned by International Value Fund that may be deemed "affiliated companies", as well as transactions that occurred in the securities of such issuers during the three months ended June 30, 2025:

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Shares Held** <br>**at 3/31/25**<br>| **Name of Issuer†** | **Value at** <br>**3/31/25**<br>| **Purchase** <br>**Cost**<br>| **Sales** <br>**Proceeds**<br>| **Value at** <br>**6/30/25**<br>| **Shares Held** <br>**at 6/30/25**<br>| **Net Realized Gain** <br>**(Loss) 4/1/25** <br>**6/30/25**<br>| **Change in** <br>**Net Unrealized** <br>**Appreciation** <br>**4/1/25** <br>**to 6/30/25**<br>|
| 4130268 | CVS Group PLC | &nbsp;&nbsp; $53524680 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $70748909 | &nbsp;&nbsp; 4130268 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $17224229 |
| 15698026 | Johnson Service Group PLC | &nbsp;&nbsp; 26989287 | &nbsp;&nbsp; 11692529 | &nbsp;&nbsp; — | &nbsp;&nbsp; 45322488 | &nbsp;&nbsp; 21758986 | &nbsp;&nbsp; — | &nbsp;&nbsp; 6640672 |
| 251390 | &nbsp;&nbsp; Lassonde Industries Inc, <br> Class A<br>| &nbsp;&nbsp; 36818133 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 38431626 | &nbsp;&nbsp; 251390 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1613493 |
| 63203 | &nbsp;&nbsp; Phoenix Mecano AG, <br> Registered<br>| &nbsp;&nbsp; 31258367 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 34936332 | &nbsp;&nbsp; 63203 | &nbsp;&nbsp; — | &nbsp;&nbsp; 3677965 |
| 16292379 | Vertu Motors PLC | &nbsp;&nbsp; 11093612 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 14177176 | &nbsp;&nbsp; 16292379 | &nbsp;&nbsp; — | &nbsp;&nbsp; 3083564 |
|  |  | &nbsp;&nbsp; $159684079 | &nbsp;&nbsp; $11692529 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $203616531 |  | &nbsp;&nbsp; $— | &nbsp;&nbsp; $32239923 |

---

------

<sup>†</sup> Issuer countries: United Kingdom, United Kingdom, Canada, Switzerland and United Kingdom, respectively.

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

------

**21**

------

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Tweedy, Browne Fund Inc.

- **b. Investment Company Act file number:** 811-07458

- **c. CIK number of Registrant:** 0000896975

- **d. LEI of Registrant:** 5493005J2AI9DYTRQ585

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** One Station Place

  - **City:** Stamford

  - **State:** CT

  - **Foreign country:** US

  - **Zip / Postal Code:** 06902

  - **Telephone number:** 203-703-0600

**Item A.2. Information about the Series.**

- **a. Name of Series:** Tweedy, Browne International Value Fund II - Currency Unhedged

- **b. EDGAR series identifier (if any):** S000026835

- **c. LEI of Series:** 549300WI1EQW8811O937

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $189119414.15

**Total Liabilities:** $203642.15

**Net Assets:** $188915772.00

**Cash Not Reported:** $5034158.52

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000080766 | 3.48%                | 5.40%                | 2.71%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $3102513.74              | $2114062.34                                |
| Month 2  | $1184916.77              | $7428449.83                                |
| Month 3  | $934313.07               | $3524786.84                                |

### Schedule of Portfolio Investments

| Name                                          | Title                                              | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Kanadevia Corp                                | Kanadevia Corp                                     | CUSIP: 000000000<br>LEI: 5493006MPD0OCAMCE046 | Long             | EC               | CORP              | JP        |    199525 | NS      | $1346788.57   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Rubis SCA                                     | Rubis SCA                                          | CUSIP: 000000000<br>LEI: 969500MGFIKUGLTC9742 | Long             | EC               | CORP              | FR        |    123575 | NS      | $3977504.45   | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Femsa SAB de CV                     | Coca-Cola Femsa SAB de CV                          | CUSIP: 191241108<br>LEI: 5493008KEVFYPMGTXO33 | Long             | EC               | CORP              | MX        |     16652 | NS      | $1610747.96   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| KSB SE & Co KGaA                              | KSB SE & Co KGaA                                   | CUSIP: 000000000<br>LEI: 529900BVAET534PD7C28 | Long             | EP               | CORP              | DE        |       648 | NS      | $667854.91    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                              | TotalEnergies SE                                   | CUSIP: 000000000<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |     60820 | NS      | $3719604.32   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Lassonde Industries Inc                       | Lassonde Industries Inc                            | CUSIP: 517907101<br>LEI: 549300U3Y8OW3GQ0VE25 | Long             | EC               | CORP              | CA        |     21490 | NS      | $3285316.23   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Transcosmos Inc                               | Transcosmos Inc                                    | CUSIP: 000000000<br>LEI: 353800AAR1GYRFDRTV97 | Long             | EC               | CORP              | JP        |     80335 | NS      | $1946571.36   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Diageo PLC                                    | Diageo PLC                                         | CUSIP: 000000000<br>LEI: 213800ZVIELEA55JMJ32 | Long             | EC               | CORP              | GB        |    124793 | NS      | $3126064.40   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Fukuda Denshi Co Ltd                          | Fukuda Denshi Co Ltd                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     12000 | NS      | $581536.22    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Arkema SA                                     | Arkema SA                                          | CUSIP: 000000000<br>LEI: 9695000EHMS84KKP2785 | Long             | EC               | CORP              | FR        |     26270 | NS      | $1928856.82   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| E-L Financial Corp Ltd                        | E-L Financial Corp Ltd                             | CUSIP: 268575107<br>LEI: 5493008YS2NMV2UCI287 | Long             | EC               | CORP              | CA        |    175000 | NS      | $2071271.53   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| LUK FOOK HOLD                                 | Luk Fook Holdings International Ltd                | CUSIP: 000000000<br>LEI: 529900U7PECBLERIIX44 | Long             | EC               | CORP              | HK        |     45710 | NS      | $116749.75    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Trelleborg AB                                 | Trelleborg AB                                      | CUSIP: 000000000<br>LEI: 213800XY16PAWG2PAD14 | Long             | EC               | CORP              | SE        |     73983 | NS      | $2733297.06   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Dentium Co Ltd                                | Dentium Co Ltd                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      8035 | NS      | $367338.10    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Nakanishi Inc                                 | Nakanishi Inc                                      | CUSIP: 000000000<br>LEI: 353800EXA7IQ42YKF224 | Long             | EC               | CORP              | JP        |     71300 | NS      | $935891.17    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Ionis Pharmaceuticals Inc                     | Ionis Pharmaceuticals Inc                          | CUSIP: 462222100<br>LEI: 549300SI4ZGLG0BLUZ92 | Long             | EC               | CORP              | US        |     60342 | NS      | $2384112.42   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Alliance Global Group Inc                     | Alliance Global Group Inc                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | PH        |   6997100 | NS      | $1120430.36   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Okamoto Industries Inc                        | Okamoto Industries Inc                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     24910 | NS      | $830362.08    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertu Motors PLC                              | Vertu Motors PLC                                   | CUSIP: 000000000<br>LEI: 213800GIKJEIUIGMI575 | Long             | EC               | CORP              | GB        |   2741248 | NS      | $2385357.94   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| DB Insurance Co Ltd                           | DB Insurance Co Ltd                                | CUSIP: 000000000<br>LEI: 9884000ZF26VNJBWSJ91 | Long             | EC               | CORP              | KR        |     15005 | NS      | $1370862.85   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| CNH Industrial NV                             | CNH Industrial NV                                  | CUSIP: 000000000<br>LEI: 549300WGC2HZ5J67V817 | Long             | EC               | CORP              | GB        |    280000 | NS      | $3628800.00   | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Nestle SA                                     | Nestle SA                                          | CUSIP: 000000000<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |     51845 | NS      | $5134348.43   | 2.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Dreyfus Government Securities Cash Management | Dreyfus Government Securities Cash Management      | CUSIP: 262006885<br>LEI: 54930024EL3G3ZEZB311 | Long             | STIV             | RF                | US        |   8133916 | NS      | $8133916.09   | 4.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Inchcape PLC                                  | Inchcape PLC                                       | CUSIP: 000000000<br>LEI: 213800RGEH1MPPNM2T57 | Long             | EC               | CORP              | GB        |    281060 | NS      | $2796193.15   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| CHOW SANG SANG                                | Chow Sang Sang Holdings International Ltd          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | HK        |   1663100 | NS      | $1805046.11   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Subaru Corp                                   | Subaru Corp                                        | CUSIP: 000000000<br>LEI: 549300N244BVAEE6HH86 | Long             | EC               | CORP              | JP        |    142920 | NS      | $2488942.23   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Rheinmetall AG                                | Rheinmetall AG                                     | CUSIP: 000000000<br>LEI: 5299001OU9CSE29O6S05 | Long             | EC               | CORP              | DE        |      1678 | NS      | $3539587.38   | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| SOL SpA                                       | SOL SpA                                            | CUSIP: 000000000<br>LEI: 81560096A9AEBBBD4B25 | Long             | EC               | CORP              | IT        |     28467 | NS      | $1607309.02   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| LG Corp                                       | LG Corp                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |     66311 | NS      | $3911051.87   | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co Ltd                    | Samsung Electronics Co Ltd                         | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |     62540 | NS      | $2771111.44   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Teleperformance SE                            | Teleperformance SE                                 | CUSIP: 000000000<br>LEI: 9695004GI61FHFFNRG61 | Long             | EC               | CORP              | FR        |     34195 | NS      | $3304308.40   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                                   | Novartis AG                                        | CUSIP: 000000000<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |     32551 | NS      | $3932700.59   | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Sopra Steria Group                            | Sopra Steria Group                                 | CUSIP: 000000000<br>LEI: 96950020QIOHAAK9V551 | Long             | EC               | CORP              | FR        |      7040 | NS      | $1708975.35   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| ADEKA Corp                                    | ADEKA Corp                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    103690 | NS      | $1979833.29   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Heineken Holding NV                           | Heineken Holding NV                                | CUSIP: 000000000<br>LEI: 724500M1WJLFM9TYBS04 | Long             | EC               | CORP              | NL        |     41905 | NS      | $3111279.15   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Embotelladora Andina SA                       | Embotelladora Andina SA                            | CUSIP: 000000000<br>LEI: 254900NNPKP1J9XTSA53 | Long             | EP               | CORP              | CL        |    502909 | NS      | $1669996.77   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                             | Johnson & Johnson                                  | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      2849 | NS      | $435184.75    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Aalberts NV                                   | Aalberts NV                                        | CUSIP: 000000000<br>LEI: 549300EMP9DT6Q35HZ31 | Long             | EC               | CORP              | NL        |     53075 | NS      | $1916412.25   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Fagron                                        | Fagron                                             | CUSIP: 000000000<br>LEI: 549300TRKRUFK2RRG779 | Long             | EC               | CORP              | BE        |     79510 | NS      | $2095321.66   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| SMEIC                                         | Shanghai Mechanical and Electrical Industry Co Ltd | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |    357122 | NS      | $393548.44    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Takara Holdings Inc                           | Takara Holdings Inc                                | CUSIP: 000000000<br>LEI: 3538001CXSU150WNEY98 | Long             | EC               | CORP              | JP        |    117505 | NS      | $974564.64    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Koito Manufacturing Co Ltd                    | Koito Manufacturing Co Ltd                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     89190 | NS      | $1064821.59   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Prudential PLC                                | Prudential PLC                                     | CUSIP: 000000000<br>LEI: 5493001Z3ZE83NGK8Y12 | Long             | EC               | CORP              | HK        |    314120 | NS      | $3928326.33   | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Safran SA                                     | Safran SA                                          | CUSIP: 000000000<br>LEI: 969500UIC89GT3UL7L24 | Long             | EC               | CORP              | FR        |     18979 | NS      | $6146637.92   | 3.25%             |  |  |  | No            |                  1 | On Loan: No      |
| United Overseas Bank Ltd                      | United Overseas Bank Ltd                           | CUSIP: 000000000<br>LEI: IO66REGK3RCBAMA8HR66 | Long             | EC               | CORP              | SG        |    194715 | NS      | $5503662.70   | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Brenntag SE                                   | Brenntag SE                                        | CUSIP: 000000000<br>LEI: NNROIXVWJ7CPSR27SV97 | Long             | EC               | CORP              | DE        |     13625 | NS      | $898846.29    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Winpak Ltd                                    | Winpak Ltd                                         | CUSIP: 97535P104<br>LEI: 549300FWDGJBHZHH8U59 | Long             | EC               | CORP              | CA        |    154890 | NS      | $5067269.77   | 2.68%             |  |  |  | No            |                  1 | On Loan: No      |
| DHL GROUP                                     | DHL GROUP                                          | CUSIP: 000000000<br>LEI: 8ER8GIG7CSMVD8VUFE78 | Long             | EC               | CORP              | DE        |    127939 | NS      | $5888604.66   | 3.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Computacenter PLC                             | Computacenter PLC                                  | CUSIP: 000000000<br>LEI: 549300XSXUZ1I19DB105 | Long             | EC               | CORP              | GB        |     71505 | NS      | $2351685.04   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Kemira Oyj                                    | Kemira Oyj                                         | CUSIP: 000000000<br>LEI: 74370031Y7RK5H88CQ48 | Long             | EC               | CORP              | FI        |    287855 | NS      | $6646465.30   | 3.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Megacable Holdings SAB de CV                  | Megacable Holdings SAB de CV                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |   1079344 | NS      | $3000018.71   | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Alten SA                                      | Alten SA                                           | CUSIP: 000000000<br>LEI: 969500Y7G9TY7Y24GN07 | Long             | EC               | CORP              | FR        |     23595 | NS      | $2062040.96   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| HAITIAN INT'L                                 | Haitian International Holdings Ltd                 | CUSIP: 000000000<br>LEI: 30030093DDRS825TVP62 | Long             | EC               | CORP              | CN        |    515680 | NS      | $1340111.08   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson Service Group PLC                     | Johnson Service Group PLC                          | CUSIP: 000000000<br>LEI: 2138004WZUPWV53KWV11 | Long             | EC               | CORP              | GB        |   1504280 | NS      | $3133312.95   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Hang Lung Group Ltd                           | Hang Lung Group Ltd                                | CUSIP: 000000000<br>LEI: 529900V2T2EPOQYH0981 | Long             | EC               | CORP              | HK        |    405955 | NS      | $706413.41    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Pets at Home Group Plc                        | Pets at Home Group Plc                             | CUSIP: 000000000<br>LEI: 2138003Y9ULD24PD3J93 | Long             | EC               | CORP              | GB        |    587870 | NS      | $2110639.65   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Fuso Chemical Co Ltd                          | Fuso Chemical Co Ltd                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     50620 | NS      | $1356221.40   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Inaba Denki Sangyo Co Ltd                     | Inaba Denki Sangyo Co Ltd                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    111630 | NS      | $3058821.97   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Taikisha Ltd                                  | Taikisha Ltd                                       | CUSIP: 000000000<br>LEI: 3538005OOQOUE7DBWV52 | Long             | EC               | CORP              | JP        |     88120 | NS      | $1574562.77   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Gas Chemical Co Inc                | Mitsubishi Gas Chemical Co Inc                     | CUSIP: 000000000<br>LEI: 529900G5O4J27ZPLJJ89 | Long             | EC               | CORP              | JP        |    108510 | NS      | $1664328.33   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Sanso Holdings Corp                    | Nippon Sanso Holdings Corp                         | CUSIP: 000000000<br>LEI: 353800F1K6653B4VPY57 | Long             | EC               | CORP              | JP        |     59015 | NS      | $2231984.11   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Hana Financial Group Inc                      | Hana Financial Group Inc                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |     43735 | NS      | $2796629.00   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Roche Holding AG                              | Roche Holding AG                                   | CUSIP: 000000000<br>LEI: 549300U41AUUVOAAOB37 | Long             | EC               | CORP              | CH        |     13870 | NS      | $4502522.61   | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Autoliv Inc                                   | Autoliv Inc                                        | CUSIP: 052800109<br>LEI: A23RUXWKASG834LTMK28 | Long             | EC               | CORP              | SE        |     16000 | NS      | $1790400.00   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Kuraray Co Ltd                                | Kuraray Co Ltd                                     | CUSIP: 000000000<br>LEI: 549300W9JPTOE739QZ31 | Long             | EC               | CORP              | JP        |    155825 | NS      | $1979569.21   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Wuliangye Yibin Co Ltd                        | Wuliangye Yibin Co Ltd                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |    131955 | NS      | $2189581.96   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Nifco Inc/Japan                               | Nifco Inc/Japan                                    | CUSIP: 654101104<br>LEI: 353800JMDOH68J9I5140 | Long             | EC               | CORP              | JP        |     48080 | NS      | $1138382.08   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Group PLC                                 | CVS Group PLC                                      | CUSIP: 000000000<br>LEI: 213800J41XDQ2NX48O05 | Long             | EC               | CORP              | GB        |    201529 | NS      | $3452065.81   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Grafton Group PLC                             | Grafton Group PLC                                  | CUSIP: 000000000<br>LEI: 635400BE9SBAG61DJ963 | Long             | EC               | CORP              | IE        |    229117 | NS      | $3208778.32   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| BAE Systems PLC                               | BAE Systems PLC                                    | CUSIP: 000000000<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | EC               | CORP              | GB        |    207677 | NS      | $5368793.69   | 2.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Azelis Group NV                               | Azelis Group NV                                    | CUSIP: 000000000<br>LEI: 699400M9RRMTV264FM70 | Long             | EC               | CORP              | BE        |    116662 | NS      | $1852848.11   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-19

**Name of Applicant:** Tweedy, Browne Fund Inc.

**Signature:** Dominick Merlucci

**Name of Signer:** Dominick Merlucci

**Title:** Director, Mutual Fund Accounting