Estimated return — disclosed long book
What Tweedy Browne Co LLC’s US-listed long positions did, derived from the share counts and market values in consecutive 13F filings, shown against SPY over exactly the same quarters. This is not the fund’s return. A 13F excludes shorts, bonds, cash, non-US listings and derivatives, says nothing about fees or leverage, and only sees positions held at both quarter ends. The fund figure is a price return while SPY is a total return, so the comparison is tilted against the manager by roughly a dividend yield.
Q2 2026
+6.3%
SPY +15.1%▼ -8.8%
2026 YTD(2Q so far)
+9.0%
SPY +10.1%▼ -1.1%
By calendar year
| Year | Estimated | SPY | Difference |
|---|---|---|---|
| 2025 | +22.3% | +17.7% | +4.6% |
| 2024 | +6.7% | +24.9% | -18.1% |
| 2023 | +17.2% | +26.2% | -9.0% |
| 2022 | -10.8% | -18.2% | +7.4% |
| 2021 | +21.9% | +28.7% | -6.8% |
| 2020 | +4.4% | +18.3% | -14.0% |
| 2019 | +14.4% | +31.2% | -16.8% |
| 2018 | -10.9% | -4.6% | -6.3% |
| 2017 | +17.4% | +21.7% | -4.3% |
| 2016 | +17.3% | +12.0% | +5.3% |
| 2015 | -11.9% | +1.2% | -13.2% |
| 20141/4 Q | -2.7% | +4.9% | -7.6% |
Years marked n/4 Qare built from fewer than four quarters, and the benchmark shown beside them covers the same partial set — so the difference is like-for-like, but the year is not a full year.