The latest Tweedy Browne portfolio update for Q3 2026 reveals a value manager sticking to its discipline: harvesting gains in long-held winners, trimming positions that have grown large, and making selective bets on out-of-favor names. The firm’s 13F filing, submitted on November 4, 2026, shows a portfolio value of approximately $1.23 billion, down from the prior quarter, while the number of holdings edged up to 98.
Concentration Remains a Hallmark
Despite the slight increase in the number of positions, Tweedy Browne’s portfolio is still heavily concentrated. The top five holdings—CNH Industrial, Berkshire Hathaway, Coca-Cola FEMSA, Ionis Pharmaceuticals, and Johnson & Johnson—account for about 53% of total assets. CNH Industrial alone represents roughly 20% of the portfolio, maintaining its status as the largest single position even after further trimming.
New Addition: Aptiv
The most notable new entrant during the quarter is Aptiv plc, an automotive technology supplier. Tweedy Browne initiated a position in the company, though the filing does not disclose the size of the stake. The move fits the firm’s pattern of buying into undervalued situations, but it also introduces a cyclical industrial name to a portfolio already weighted toward industrials and healthcare.
Zoetis Stake Increased
Among existing holdings, Zoetis received additional capital. The animal health company saw its position increased, signaling the manager’s confidence in its long-term prospects. The exact number of shares added was not specified in the summary, but the direction of the trade is clear: Tweedy Browne is adding to a name it already owns rather than starting fresh.
Continued Trimming of Core Holdings
On the sell side, the firm continued to reduce its exposure to several long-standing core positions. CNH Industrial, Berkshire Hathaway, and Alphabet were all trimmed during the quarter. These reductions appear to be part of a consistent approach to portfolio management—taking profits or rebalancing as positions grow outsized—rather than a signal of lost conviction.
A Value Discipline in Practice
The quarter’s activity reflects a familiar playbook for Tweedy Browne: let winners run but harvest gains when they become too large, add to undervalued names when opportunities arise, and keep the portfolio focused on a relatively small number of high-conviction ideas. The addition of Aptiv and the increase in Zoetis suggest the manager sees value in specific areas, while the trims in CNH, Berkshire, and Alphabet indicate a willingness to lock in gains after strong runs.
With 98 holdings but more than half of assets in just five names, the portfolio remains a study in concentrated value investing. The Q3 2026 update shows a manager who is neither rushing to overhaul the portfolio nor standing still—adjusting at the margins while keeping the core intact.
