Fund Overview Fund Overview Call Us Advisors: 800.368.4410 Investors: 800.432.4789 Share Class Common NAV | as of 02/27/2026 $31.50 +$0.17 (+0.54%) Morningstar | Style Box V B G L M S Morningstar Medalist Rating as of 06/09/2025 Analyst-Driven:100% | Data Coverage:100% Growth of $10,000 (Hypothetical) Since Inception 06/15/1993 to 01/31/2026 = $155,790.24 From: To: 3YR 5YR 10YR INCEP. INCEP. 3YR 5YR 10YR INCEP. SEE ALL PERFORMANCE See Hedged Index Comparison Performance The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month-end please call 800.548.4539 or visit our website at wealth.amg.com. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown. Read Important Investment Disclosures Objective The Fund seeks long-term capital growth. Why Consider Invests primarily in equity securities of foreign issuers that the Adviser believes are undervalued, but also invests on a more limited basis in U.S. equity securities when opportunities appear attractive The fund may be appropriate for long-term value investors looking to gain exposure to international equity investments Invests, based on Tweedy, Browne’s fundamental research, in a diversified portfolio of stocks from a variety of industries and countries across market capitalizations. Utilizes a value investing approach popularized by legendary investor Benjamin Graham Where practicable, perceived foreign currency exposure is hedged back into the U.S. dollar Documents Fact Sheet Commentary Prospectus Annual Report Semi-Annual Report SAI Distributions All Holdings View All Documents Investment Style Tweedy, Browne International Value Fund has an Equity Income Objective, seeking to achieve income and capital appreciation. Large Mid Small Value Blend Growth Equity Objective Tweedy, Browne International Value Fund is categorized as Mid-Value. It invests in medium-cap companies with low risk. Morningstar Ratings Risk-adjusted returns as of 01/31/2026 Overall Rating (of 330) 3 Years (of 330) 5 Years (of 313) 10 Years (of 239) Category Foreign Large Value Read Important Investment Disclosures Roger R. de Bree MANAGING DIRECTOR Roger R. de Bree has been with Tweedy, Browne since 2000 and is a member of the firm's Investment Committee, as well as Treasurer of Tweedy, Browne Fund Inc. In 2011, he became an equity stakeholder in the firm and a Managing Director in 2020. Before joining Tweedy, Browne Roger worked at ABN AMRO Bank and MeesPierson Inc. He has an undergraduate degree in business administration from Nijenrode, the Netherlands School of Business in Breukelen, the Netherlands, as well as an MBA from IESE, University of Navarre in Barcelona, Spain. Frank H. Hawrylak, CFA MANAGING DIRECTOR Frank H. Hawrylak, CFA, has been with Tweedy, Browne since 1986 and is a member of the firm's Investment Committee. In 2011, he became an equity stakeholder in the firm and a Managing Director in 2020. Prior to joining Tweedy, Browne, Frank worked in the investment department at Royal Insurance. Mr. Hawrylak received a BS from the University of Arizona and an MBA from the University of Edinburgh, Scotland. Jay Hill, CFA MANAGING DIRECTOR Jay Hill, CFA, has been with Tweedy, Browne since 2003. He is a member of the firm's Investment and Management Committees and has been an equity stakeholder in the firm since 2011. Prior to joining Tweedy, Browne, Jay held positions with Banc of America Securities LLC, Credit Lyonnais Securities (USA) Inc., and Providence Capital, Inc. Jay received a B.B.A. from Texas Tech University. Thomas H. Shrager MANAGING DIRECTOR Thomas H. Shrager has been with Tweedy, Browne since 1989. He is a member of the firm's Investment and Management Committees, and is the President and a Director of Tweedy, Browne Fund Inc. Previously he had worked in mergers and acquisitions at Bear Stearns, and as a consultant for Arthur D. Little. He received a BA and a Masters in international affairs from Columbia University. Robert Q. Wyckoff, Jr. MANAGING DIRECTOR Robert Q. Wyckoff, Jr. has been with Tweedy, Browne since 1991. He is also a member of the firm's Investment and Management Committees, and is Chairman and Vice President of Tweedy, Browne Fund Inc., and a member of the Board of Directors of Tweedy, Browne Value Funds, domiciled in Luxembourg. Prior to joining the Investment Adviser, he held positions with Bessemer Trust, C.J. Lawrence, J&W Seligman, and Stillrock Management. He received a B.A. from Washington & Lee University and a J.D. from the University of Florida School of Law. John D. Spears MANAGING DIRECTOR John D. Spears has been with Tweedy, Browne since 1974 and is a member of the firm's Investment and Management Committees. He is also Vice President of Tweedy, Browne Fund Inc.. Additionally, he is a member of the Board of Managers of Haverford College. Previously, he had been in the investment business with Berger, Kent Associates; Davic Associates; and Hornblower & Weeks-Hemphill, Noyes & Co. Mr. Spears studied at the Babson Institute of Business Administration, Drexel Institute of Technology, and the University of Pennsylvania ‐ The Wharton School. Andrew Ewert MANAGING DIRECTOR Andrew Ewert has been associated with Tweedy, Browne Company since 2016. He is a Managing Director of Tweedy, Browne and a member of its Investment Committee. Prior to joining the Tweedy, Browne, he held positions at Equinox Partners, L.P., Ruane, Cunniff & Goldfarb Inc., MTS Health Partners, L.P., and Bear Stearns. Mr. Ewert holds a B.B.A. from Emory University and an M.B.A. from Columbia Business School. Performance Performance Read Important Investment Disclosures Returns Trailing Returns Trailing Returns Monthly Quarterly Calendar Year Returns See Hedged Index Comparison Performance The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month-end please call 800.548.4539 or visit our website at wealth.amg.com. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown. Expense Ratios Gross Expense Ratio: 1.41% Net Expense Ratio: 1.41% Expense Cap Expiration Date: N/A The Fund’s Investment Manager has contractually agreed, through May 1, 2025, to limit fund operating expenses. The net expense ratio reflects this limitation, while the gross expense ratio does not. The Fund has no up-front sales charges or deferred sales charges. Please refer to the Fund’s Prospectus for additional information on the Fund’s expenses. Distributions & Pricing Distributions Distributions Chart List Historical Pricing Calendar Year Distributions Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains Dec 11, 2025 $3.413000 $0.620000 — $2.793000 Dec 12, 2024 $2.542000 $0.490000 — $2.052000 Dec 11, 2023 $1.245000 $0.463000 $0.172000 $0.610000 Dec 12, 2022 $1.446000 $0.398000 $0.126000 $0.922000 Dec 10, 2021 $2.586000 $0.410000 $0.020000 $2.156000 Dec 11, 2020 $0.257000 $0.257000 — — Dec 12, 2019 $0.500000 $0.446000 — $0.054000 Dec 27, 2018 $1.677000 $0.391000 $0.103000 $1.183000 Dec 27, 2017 $0.414000 $0.314000 $0.042000 $0.058000 Dec 28, 2016 $0.632000 $0.292000 — $0.340000 Dec 29, 2015 $0.999000 $0.211000 — $0.788000 Dec 29, 2014 $0.845000 $0.330000 — $0.515000 Dec 27, 2013 $1.055000 $0.320000 — $0.735000 Dec 27, 2012 $2.564000 $0.350000 — $2.214000 Dec 29, 2011 $0.984000 $0.420000 — $0.564000 Dec 30, 2010 $0.309000 $0.254000 — $0.055000 Dec 30, 2009 $0.332000 $0.332000 — — Dec 30, 2008 $2.244000 $0.753000 — $1.491000 Dec 28, 2007 $3.352000 $0.476000 — $2.876000 Dec 28, 2006 $0.786000 $0.433000 — $0.353000 Dec 28, 2005 $0.365000 $0.365000 — — Dec 28, 2004 $0.271200 $0.271200 — — Dec 29, 2003 $0.200000 $0.200000 — — Dec 27, 2002 $0.466100 $0.199700 $0.030900 $0.235500 Dec 27, 2001 $0.513300 $0.183700 $0.104300 $0.225300 Dec 28, 2000 $2.722200 $0.206100 $0.734200 $1.781900 Dec 22, 1999 $0.846400 $0.258800 $0.028900 $0.558700 Dec 29, 1998 $1.369300 $0.378700 $0.214800 $0.775800 Dec 29, 1997 $1.360700 $0.870900 $0.126500 $0.363300 Dec 30, 1996 $1.122400 $0.553100 $0.150300 $0.419000 Dec 29, 1995 $0.200900 — — $0.200900 Dec 30, 1994 $0.163300 — $0.060300 $0.103000 From: To: Risk & Return Statistics As of: 01/31/2026 3YR 5YR 10YR Alpha Alpha is a measure of performance on a risk-adjusted basis. Alpha takes the volatility (price risk) of a security or mutual fund and compares its risk-adjusted performance to a benchmark index. The excess return of the security or fund relative to the return of the benchmark index is a fund's alpha. -0.26 1.44 0.09 Standard Deviation Standard Deviation is a measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the deviation. Standard deviation is calculated as the square root of variance. 8.23 10.56 11.75 Sharpe Ratio Sharpe Ratio is a risk-adjusted measure developed by William Sharpe. It is calculated using standard deviation and excess return to determine reward per unit of risk. First, the average monthly return of the 90-day Treasury bill (over a 36-month period) is subtracted from the portfolio's average monthly return. The difference in total return represents the portfolio's excess return beyond that of the 90-day Treasury bill, a risk-free investment. An arithmetic annualized excess return is then calculated by multiplying this monthly return by 12. To show a relationship between excess return and risk, this number is then divided by the standard deviation of the portfolio's annualized excess returns. The higher the Sharpe ratio, the better the portfolio's historical risk-adjusted performance. 0.81 0.57 0.47 Upside Capture Ratio (%) Upside Capture Ratio (%) is a measure of a manager's performance in up markets relative to a particular benchmark. An up market is one in which the market's quarterly (or monthly) return is greater than or equal to zero. For example, a ratio of 50% means that the portfolio's value increased half as much as its benchmark index during up markets. 70.35 76.17 75.30 Downside Capture Ratio (%) Downside Capture Ratio (%) measures a manager's performance in down markets relative to a particular benchmark. A down market is one in which the market's quarterly (or monthly) return is less than zero. For example, a ratio of 50% means that the portfolio's value fell half as much as its benchmark index during down markets. 63.97 65.02 71.19 Beta Beta measures the relationship between the portfolio's excess return over T-bills (representing a risk-free rate) relative to the excess return of the portfolio's benchmark. A low beta does not imply that the portfolio has a low level of volatility; rather, a low beta means that the portfolio's market-related risk is low. Beta is often referred to as systematic risk. 0.66 0.69 0.75 R-Squared R-Squared ranges from 0 to 100 and reflects the percentage of a portfolio's movements that are explained by movements in its benchmark index. A portfolio with an R-squared of 100 means that all movement is completely explained by benchmark index movement. Thus, a portfolio that invests only in S&P 500 stocks will have an R-squared very close to 100. Conversely, a low R-squared indicates that very little of the portfolio's movement is explained by benchmark movement. An R-squared measure of 35, for example, means that movements in its benchmark index can explain only 35% of the portfolio's movements. R-squared is used to ascertain the significance of a particular beta or alpha and generally a higher R-squared will indicate more useful alpha and beta figures. 83.93 85.30 87.19 Tracking Error (%) Tracking Error (%) , which is often referred to as the active risk of the portfolio, measures how closely a manager's returns track the returns of a benchmark index. Specifically, tracking error measures the standard deviation of the excess returns a portfolio generates compared to its benchmark. This gives an indication of the volatility of a portfolio versus its benchmark. If a manager tracks a benchmark closely, then tracking error will be low. If a manager tracks a benchmark perfectly, then tracking error will be zero. 5.23 6.06 5.54 View All Characteristics & Statistics All Characteristics & Statistics Tweedy, Browne International Value Fund (TBGVX) Portfolio Characteristics (Equity) Risk & Return Market Cap Valuation Characteristics Growth Characteristics Fund Holdings Fund MSCI EAFE Index Fund Assets (Mil.$) $4,189 Number of Holdings 83 Weighted Avg. Market Cap (Mil.$) $65,594 $107,896 Median Market Cap (Mil.$) $3,560 $20,070 Weighted Avg. P/E (1-yr Forward EPS) 12.72 15.67 Weighted Avg. P/E (Trailing EPS) 15.39 18.07 PEG Ratio 2.04 Weighted Avg. P/B 1.67 2.18 EPS Growth (Trailing 3-yr %) -0.07% 7.10% EPS Growth (Trailing 5-yr %) 10.37% 13.16% Forward EPS Growth (1-yr %) 14.26% Forward EPS Growth (Long Term %) 7.91% Revenue Growth (Trailing 5-yr %) 5.69% 9.28% Return on Equity 12.14% 13.81% Weighted Avg. Dividend Yield 3.12% 2.74% Debt to Equity 44.64 68.44 Trailing 12-Months Portfolio Turnover 15.00% As of: 12/31/2025 Risk & Return 3 Years 5 Years 10 Years Alpha Alpha is a measure of performance on a risk-adjusted basis. Alpha takes the volatility (price risk) of a security or mutual fund and compares its risk-adjusted performance to a benchmark index. The excess return of the security or fund relative to the return of the benchmark index is a fund's alpha. -0.26 1.44 0.09 Standard Deviation Standard Deviation is a measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the deviation. Standard deviation is calculated as the square root of variance. 8.23 10.56 11.75 Sharpe Ratio Sharpe Ratio is a risk-adjusted measure developed by William Sharpe. It is calculated using standard deviation and excess return to determine reward per unit of risk. First, the average monthly return of the 90-day Treasury bill (over a 36-month period) is subtracted from the portfolio's average monthly return. The difference in total return represents the portfolio's excess return beyond that of the 90-day Treasury bill, a risk-free investment. An arithmetic annualized excess return is then calculated by multiplying this monthly return by 12. To show a relationship between excess return and risk, this number is then divided by the standard deviation of the portfolio's annualized excess returns. The higher the Sharpe ratio, the better the portfolio's historical risk-adjusted performance. 0.81 0.57 0.47 Upside Capture Ratio (%) Upside Capture Ratio (%) is a measure of a manager's performance in up markets relative to a particular benchmark. An up market is one in which the market's quarterly (or monthly) return is greater than or equal to zero. For example, a ratio of 50% means that the portfolio's value increased half as much as its benchmark index during up markets. 70.35 76.17 75.30 Downside Capture Ratio (%) Downside Capture Ratio (%) measures a manager's performance in down markets relative to a particular benchmark. A down market is one in which the market's quarterly (or monthly) return is less than zero. For example, a ratio of 50% means that the portfolio's value fell half as much as its benchmark index during down markets. 63.97 65.02 71.19 Beta Beta measures the relationship between the portfolio's excess return over T-bills (representing a risk-free rate) relative to the excess return of the portfolio's benchmark. A low beta does not imply that the portfolio has a low level of volatility; rather, a low beta means that the portfolio's market-related risk is low. Beta is often referred to as systematic risk. 0.66 0.69 0.75 R-Squared R-Squared ranges from 0 to 100 and reflects the percentage of a portfolio's movements that are explained by movements in its benchmark index. A portfolio with an R-squared of 100 means that all movement is completely explained by benchmark index movement. Thus, a portfolio that invests only in S&P 500 stocks will have an R-squared very close to 100. Conversely, a low R-squared indicates that very little of the portfolio's movement is explained by benchmark movement. An R-squared measure of 35, for example, means that movements in its benchmark index can explain only 35% of the portfolio's movements. R-squared is used to ascertain the significance of a particular beta or alpha and generally a higher R-squared will indicate more useful alpha and beta figures. 83.93 85.30 87.19 Tracking Error (%) Tracking Error (%) , which is often referred to as the active risk of the portfolio, measures how closely a manager's returns track the returns of a benchmark index. Specifically, tracking error measures the standard deviation of the excess returns a portfolio generates compared to its benchmark. This gives an indication of the volatility of a portfolio versus its benchmark. If a manager tracks a benchmark closely, then tracking error will be low. If a manager tracks a benchmark perfectly, then tracking error will be zero. 5.23 6.06 5.54 Information Ratio Information Ratio s a ratio of portfolio returns above the returns of a benchmark (usually an index) to the volatility of those returns. The information ratio (IR) measures a portfolio manager's ability to generate excess returns relative to a benchmark, but also attempts to identify the consistency of the investor. This ratio will identify if a manager has beaten the benchmark by a lot in a few months or a little every month. The higher the IR, the more consistent a manager is, and consistency is an ideal trait. -0.68 -0.07 -0.26 Treynor Ratio (%) Treynor Ratio (%) , which was developed by Jack Treynor, measures reward per unit of beta risk. It measures returns earned in excess of that which could have been earned on a less risk investment per each unit of market risk. The Treynor Ratio relates the difference between the portfolio return and the risk-free rate to the portfolio beta for a given time period. 10.25 8.93 7.30 Max Drawdown Max Drawdown is the maximum loss from a peak to a trough of a portfolio, before a new peak is attained. Maximum Drawdown is an indicator of downside risk over a specified time period. -7.05 -15.98 -21.36 As of: 01/31/2026 Market Cap Fund MSCI EAFE Index Market Cap ($mm) 0 - 1,000 4.11% 0.00% Market Cap ($mm) 1,000 - 1,500 6.42% 0.00% Market Cap ($mm) 1,500 - 2,500 7.96% 0.00% Market Cap ($mm) 2,500 - 5,000 16.92% 0.02% Market Cap ($mm) 5,000 - 10,000 11.07% 4.05% Market Cap ($mm) 10,000 - 25,000 16.40% 14.75% Market Cap ($mm) 25,000 - 50,000 11.33% 19.39% Market Cap ($mm) 50,000 - 100,000 7.19% 21.14% Market Cap ($mm) 100,000 - 200,000 5.90% 24.54% Market Cap ($mm) 200,000 - 12.71% 16.12% Market Cap – NA 0.00% 0.00% As of: 12/31/2025 Valuation Characteristics Fund MSCI EAFE Index P/E 0-10 9.50% 5.40% P/E 10-15 27.45% 25.15% P/E 15-20 29.79% 17.56% P/E 20-25 9.58% 11.80% P/E 25-Above 14.70% 35.23% P/E – NA 8.98% 4.87% As of: 12/31/2025 Growth Characteristics Fund MSCI EAFE Index EPS Growth (Trailing 3-yr %) - Negative 49.06% 24.41% EPS Growth (Trailing 3-yr %) 0 - 5 6.78% 10.90% EPS Growth (Trailing 3-yr %) 5 - 10 8.22% 9.81% EPS Growth (Trailing 3-yr %) 10 - 15 8.48% 10.67% EPS Growth (Trailing 3-yr %) 15 - 20 5.37% 7.92% EPS Growth (Trailing 3-yr %) Above 20 7.94% 24.96% EPS Growth (Trailing 3-yr %) - NA 14.16% 11.33% As of: 12/31/2025 Read Important Investment Disclosures Portfolio & Holdings Portfolio & Holdings Top Holdings (Equity) As of: 12/31/2025 Ionis Pharmaceuticals Inc 3.67% Roche Holding 3.65% DHL Group 3.46% Heineken Holding 3.36% United Overseas Bank 3.06% Nestlé SA 3.04% TotalEnergies SE 3.00% Novartis 2.84% Prudential PLC 2.82% CNH Industrial NV 2.78% % in Top 10 Holdings 31.67% View Holding Details Holding Details Tweedy, Browne International Value Fund (TBGVX) Top 10 Holdings (Equity) All Holdings 10 Best Performing Stocks 10 Worst Performing Stocks Fund Holdings 12/31/2025 Ionis Pharmaceuticals Inc 3.67% Roche Holding 3.65% DHL Group 3.46% Heineken Holding 3.36% United Overseas Bank 3.06% Nestlé SA 3.04% TotalEnergies SE 3.00% Novartis 2.84% Prudential PLC 2.82% CNH Industrial NV 2.78% % in Top 10 Holdings 31.67% As of: 12/31/2025 Download All Holdings (PDF) As of: 12/31/2025 Ticker Name Sector Asset Class Country Currency Par/Shares Price ($) Market Value ($) % of Fund ions Ionis Pharmaceuticals Inc Health Care S US USD 1,941,377 79.11 $153,582,334 3.67% rog.vx Roche Holding Health Care S CH CHF 369,451 414.26 $153,049,944 3.65% dhln.de DHL Group Industrials S DE EUR 2,644,654 54.88 $145,144,029 3.46% heio.as Heineken Holding Consumer Staples S NL EUR 1,917,912 73.29 $140,555,485 3.36% uobh.si United Overseas Bank Financials S SG SGD 4,698,381 27.26 $128,091,165 3.06% nesn.vx Nestlé SA Consumer Staples S CH CHF 1,279,479 99.39 $127,164,628 3.04% ttef.pa TotalEnergies SE Energy S FR EUR 1,924,062 65.29 $125,617,535 3.00% novn.vx Novartis Health Care S CH CHF 859,726 138.34 $118,934,641 2.84% pru.l Prudential PLC Financials S HK GBp 7,667,170 15.39 $118,029,161 2.82% cnhi CNH Industrial NV Industrials S GB USD 12,634,951 9.22 $116,494,248 2.78% sols.mi Sol SpA Materials S IT EUR 1,986,401 57.49 $114,196,858 2.73% saf.pa Safran SA Industrials S FR EUR 315,965 349.28 $110,360,707 2.63% 005930.ks Samsung Electronics Co Information Technology S KR KRW 1,311,490 83.23 $109,158,065 2.61% trelb.st Trelleborg AB Industrials S SE SEK 2,184,684 42.60 $93,062,590 2.22% dge.l Diageo PLC Consumer Staples S GB GBp 4,226,159 21.57 $91,149,276 2.18% rubf.pa Rubis SCA Utilities S FR EUR 2,392,742 37.65 $90,093,596 2.15% kof Coca-Cola FEMSA Consumer Staples S MX USD 900,459 94.71 $85,282,472 2.04% txgn.s TX Group AG Communication Services S CH CHF 377,500 208.02 $78,525,718 1.87% cvsg.l CVS Group PLC Health Care S GB GBp 4,180,528 17.27 $72,199,566 1.72% kemira.he Kemira OYJ Materials S FI EUR 2,919,753 23.00 $67,141,855 1.60% 086790.ks Hana Financial Group Financials S KR KRW 1,017,582 65.32 $66,470,769 1.59% baes.l BAE Systems PLC Industrials S GB GBp 2,872,758 23.05 $66,229,014 1.58% ccc.l Computacenter PLC Information Technology S GB GBp 1,665,825 39.41 $65,650,105 1.57% wpk.to Winpak Materials S CA CAD 1,926,869 32.54 $62,708,463 1.50% freg.de Fresenius SE & Co KGaA Health Care S DE EUR 1,084,451 57.52 $62,382,568 1.49% 003550.ks LG Corp Industrials S KR KRW 998,776 56.02 $55,951,701 1.34% exho.pa Sodexo SA Consumer Discretionary S FR EUR 1,088,479 51.32 $55,864,514 1.33% inch.l Inchcape PLC Consumer Discretionary S GB GBp 5,273,360 10.34 $54,544,654 1.30% na.to National Bank Of Canada Financials S CA CAD 424,935 125.92 $53,509,415 1.28% 7270.t Subaru Corp Consumer Discretionary S JP JPY 2,450,385 21.66 $53,073,827 1.27% ksbg.f KSB AG Industrials S DE EUR 42,354 1,133.34 $48,001,662 1.15% and_pa.sn Embotelladora Andina Consumer Staples S CL CLP 11,044,000 3.99 $44,098,827 1.05% jsg.l Johnson Service Group Industrials S GB GBp 23,996,321 1.82 $43,572,940 1.04% 4368.t Fuso Chemical Co Materials S JP JPY 1,046,175 40.64 $42,515,772 1.01% 000858.sz Wuliangye Yibin Co Consumer Staples S CN CNY 2,768,830 15.16 $41,975,323 1.00% lten.pa Alten SA Information Technology S FR EUR 480,339 85.09 $40,871,518 0.98% 4091.t Nippon Sanso Holdings Corp Materials S JP JPY 1,357,200 29.78 $40,418,575 0.96% lasa.to Lassonde Consumer Staples S CA CAD 251,390 160.13 $40,256,328 0.96% aze.br Azelis Group Industrials S BE EUR 3,551,800 10.98 $39,002,698 0.93% aalb.as Aalberts NV Industrials S NL EUR 1,170,235 32.96 $38,565,173 0.92% alv Autoliv Inc. Consumer Discretionary S SE USD 306,021 118.70 $36,324,693 0.87% 5334.t Niterra Co LTD Consumer Discretionary S JP JPY 820,800 43.96 $36,084,933 0.86% pmn.s Phoenix Mecano Communication Services S CH CHF 63,203 562.95 $35,580,357 0.85% rhmg.de Rheinmetall AG Industrials S DE EUR 18,683 1,833.32 $34,251,851 0.82% gftu_u.l Grafton Group PLC Industrials S IE GBp 2,704,933 12.59 $34,054,208 0.81% 3405.t Kuraray Co Materials S JP JPY 3,363,180 10.12 $34,051,272 0.81% pets.l Pets at Home Group PLC Consumer Discretionary S GB GBp 12,591,767 2.66 $33,534,381 0.80% 4401.t ADEKA Corp Materials S JP JPY 1,218,825 24.73 $30,139,180 0.72% bree.l Breedon Group PLC Materials S GB GBp 6,757,986 4.43 $29,923,717 0.71% 7276.t Koito Manufacturing Co Consumer Discretionary S JP JPY 1,958,145 14.74 $28,857,794 0.69% 7988.t Nifco Inc Consumer Discretionary S JP JPY 902,365 30.90 $27,886,415 0.67% sopr.pa Sopra Steria Group Information Technology S FR EUR 149,932 181.57 $27,223,149 0.65% megacpo.mx Megacable Holdings SAB Communication Services S MX MXN 9,067,593 2.88 $26,139,400 0.62% bkg.l Berkeley Group Holdings Consumer Discretionary S GB GBp 473,985 52.51 $24,889,309 0.59% 1882.hk Haitian International Holdings Industrials S CN HKD 8,383,895 2.85 $23,869,354 0.57% fagro.br Fagron NV Health Care S BE EUR 926,488 25.02 $23,176,825 0.55% teprf.pa Teleperformance SE Industrials S FR EUR 306,000 72.63 $22,224,164 0.53% 7716.t Nakanishi Inc Health Care S JP JPY 1,586,635 12.64 $20,052,467 0.48% hwdn.l Howden Joinery Group PLC Industrials S GB GBp 1,640,676 11.20 $18,371,537 0.44% 6277.t Hosokawa Micron Corp Industrials S JP JPY 481,855 35.98 $17,338,111 0.41% 0220.hk Uni-President China Holdings Consumer Staples S CN HKD 15,974,780 1.04 $16,685,933 0.40% 7004.t Kanadevia Corp Industrials S JP JPY 2,751,105 6.06 $16,673,895 0.40% 0010.hk Hang Lung Group Real Estate S HK HKD 7,965,154 1.96 $15,595,676 0.37% 9715.t Transcosmos Inc Industrials S JP JPY 588,565 24.75 $14,569,091 0.35% 1979.t Taikisha Industrials S JP JPY 657,770 21.02 $13,827,249 0.33% vtu.l Vertu Motors PLC Consumer Discretionary S GB GBp 16,292,379 0.84 $13,674,376 0.33% 2531.t Takara Holdings Consumer Staples S JP JPY 1,317,955 10.25 $13,512,097 0.32% 7839.t Shoei Co Consumer Discretionary S JP JPY 910,290 11.34 $10,319,853 0.25% 900925.ss Shanghai Mechanical And Electrical Co-B Industrials S CN USD 6,463,000 1.59 $10,276,170 0.25% cltn.s Coltene Holding Ag Health Care S CH CHF 142,761 67.78 $9,676,574 0.23% 145720.ks Dentium Co Health Care S KR KRW 276,537 32.07 $8,868,841 0.21% 6869.t Sysmex Corp Health Care S JP JPY 802,165 9.84 $7,893,965 0.19% 005180.ks Binggrae Co Consumer Staples S KR KRW 132,322 51.72 $6,843,212 0.16% vetn.s Vetropack Holdings Materials S CH CHF 137,046 27.77 $3,805,632 0.09% 5122.t Okamoto Industries Materials S JP JPY 104,825 34.90 $3,658,125 0.09% agi.ps Alliance Global Group, Inc Industrials S PH PHP 22,609,020 0.14 $3,147,374 0.08% 6250.t Yamabiko Corporation Industrials S JP JPY 164,305 18.96 $3,115,343 0.07% 9347.t Nippon Kanzai Industrials S JP JPY 164,400 17.76 $2,919,963 0.07% adgr_p.za Adris Grupa Industrials S HR EUR 30,000 96.54 $2,896,194 0.07% tabk.pr Philip Morris Czech Republic Consumer Staples S CZ CZK 2,800 899.84 $2,519,538 0.06% 383800.ks LX Holdings Corp Industrials S KR KRW 326,749 5.57 $1,819,116 0.04% 6777.t Santec Holding Corp Information Technology S JP JPY 5,545 58.25 $322,982 0.01% Non-Disclosed Security Materials S JP JPY 29,630 6.68 $197,918 0.00% Cash & Cash Equivalents Cash C - - $197,384,585 4.71% Hedge Contracts Unrealized Gain/Loss Cash C - - -$8,292,137 -0.20% Download Fund Commentary (PDF) Fund Holdings Sort order Avg. Weight Total Return Roche Holding 1 3.79% 26.38% Samsung Electronics Co 2 2.22% 42.24% Ionis Pharmaceuticals Inc 3 4.02% 20.93% DHL Group 4 3.19% 23.11% National Bank Of Canada 5 2.22% 17.72% TotalEnergies SE 6 3.42% 10.87% Novartis 7 3.41% 9.48% Coca-Cola FEMSA 8 1.95% 16.65% Prudential PLC 9 2.65% 9.91% Nestlé SA 10 3.59% 7.73% As of: 12/31/2025 The 10 Best and Worst Performing Stocks are determined based on the stock's contribution to the Fund's return during the specified quarter. Returns (and return %) are expressed in LCL. Download Fund Commentary (PDF) Fund Holdings Sort order Avg. Weight Total Return CNH Industrial NV 20 2.75% -15.02% TX Group AG 19 2.10% -18.24% BAE Systems PLC 18 1.66% -16.15% Rheinmetall AG 17 0.88% -21.33% Azelis Group 16 1.00% -18.99% Diageo PLC 15 2.36% -7.34% Wuliangye Yibin Co 14 1.11% -10.86% Nippon Sanso Holdings Corp 13 1.05% -10.69% Sodexo SA 12 0.98% -13.39% Johnson Service Group 11 1.07% -9.02% As of: 12/31/2025 The 10 Best and Worst Performing Stocks are determined based on the stock's contribution to the Fund's return during the specified quarter. Returns (and return %) are expressed in LCL. Read Important Investment Disclosures Read Important Investment Disclosures Regional Allocation As of: 12/31/2025 View Allocation Details Allocation Details Tweedy, Browne International Value Fund (TBGVX) Sector Allocation (Equity) Investment Allocation Country Allocation Regional Allocation Top 10 Industries Sector Sort Order Fund MSCI EAFE Index Industrials 23.29% 19.20% Health Care 15.03% 11.37% Consumer Staples 14.56% 7.39% Materials 10.23% 5.56% Consumer Discretionary 8.95% 9.83% Financials 8.74% 25.31% Information Technology 5.81% 8.39% Cash & Other 4.51% 0.00% Communication Services 3.35% 4.33% Energy 3.00% 3.14% Utilities 2.15% 3.66% Real Estate 0.37% 1.82% As of: 12/31/2025 Investment Allocation 12/31/2025 Stocks 95.49% Bonds 0.00% Cash and Other 4.51% As of: 12/31/2025 Country Fund MSCI EAFE Index United Kingdom 15.04% 14.88% Switzerland 12.57% 9.63% France 11.27% 10.68% Japan 9.96% 22.10% Germany 6.92% 9.73% South Korea 5.95% 0.00% Netherlands 4.28% 4.98% Canada 3.74% 0.00% United States 3.67% 0.00% Hong Kong 3.19% 2.00% Sweden 3.09% 3.70% Singapore 3.06% 1.70% Italy 2.73% 3.30% Mexico 2.66% 0.00% China 2.22% 0.00% % in Top 15 Countries 90.35% 82.7% As of: 12/31/2025 Region Fund MSCI EAFE Index Developed 83.41% 100.00% Europe & Middle East 59.80% 67.65% North America 7.40% 0.00% Pacific 16.21% 32.35% Emerging 12.01% 0.00% Asia 8.24% 0.00% Latin America 3.71% 0.00% Europe & Middle East 0.06% 0.00% Africa 0.00% 0.00% Frontier 0.07% 0.00% Africa 0.00% 0.00% Asia 0.00% 0.00% Europe 0.07% 0.00% Latin America 0.00% 0.00% Middle East 0.00% 0.00% Cash & Other 4.51% 0.00% As of: 12/31/2025 Industry Fund MSCI EAFE Index Beverages 9.94% 1.18% Machinery 8.77% 3.21% Chemicals 7.93% 2.04% Pharmaceuticals 6.49% 8.27% Banks 5.92% 15.01% Aerospace & Defense 5.03% 3.41% Food Products 4.56% 2.22% Health Care Providers & Services 3.77% 0.25% Biotechnology 3.67% 0.67% Air Freight & Logistics 3.46% 0.54% % in Top 10 Industries 59.54% 36.8% As of: 12/31/2025 Read Important Investment Disclosures About the Affiliate About Tweedy, Browne Company Tweedy, Browne Company LLC, is a leading practitioner of the value-oriented investment approach of legendary investor, author (The Intelligent Investor, Security Analysis), and Columbia Business School professor Benjamin Graham. Serving originally as a broker to Graham and other respected value investors, the firm’s 100-year history is grounded in undervalued securities, first as a market maker, then as an investor and investment adviser. Learn More About Tweedy, Browne Company's Approach FOUNDED 1920 AMG AFFILIATE SINCE 1997 HEADQUARTERS Stamford, CT Portfolio Managers Roger R. de Bree MANAGING DIRECTOR Read full bio Frank H. Hawrylak, CFA MANAGING DIRECTOR Read full bio Jay Hill, CFA MANAGING DIRECTOR Read full bio Thomas H. Shrager MANAGING DIRECTOR Read full bio Robert Q. Wyckoff, Jr. MANAGING DIRECTOR Read full bio John D. Spears MANAGING DIRECTOR Read full bio Andrew Ewert MANAGING DIRECTOR Read full bio Investment Approach Investment Approach Tweedy, Browne International Value Fund The Fund’s investment process is driven by fundamental, bottom-up research on individual companies. The investment team seeks to appraise the worth of a company—its “intrinsic value” (a/k/a “private market value,” “breakup value,” or “liquidation value”), by determining its acquisition value or estimating the collateral value of its assets and/or cash flow. Learned Lessons from Over a Century of Value Investing Bob Wyckoff from Tweedy, Browne Company draws on the wisdom of great investors over the last century as his company recently celebrated its 100th birthday. Read Blog Related products Other Products From Tweedy, Browne Company TBCUX Tweedy, Browne International Value Fund II - Currency Unhedged View Fund Details TWEBX Tweedy, Browne Value Fund View Fund Details TBHDX Tweedy, Browne Worldwide High Dividend Yield Value Fund View Fund Details Stay up-to-date Sign up to receive our latest views and thinking, in addition to other news and product-related information. CHOOSE SUBSCRIPTIONS