Teleperformance SE: A Key Exit in Tweedy Browne International Value's Q3 2025 Portfolio Adjustments

This article first appeared on GuruFocus.

Insights into Tweedy Browne (Trades, Portfolio)'s Strategic Moves and Investment Philosophy

Warning! GuruFocus has detected 5 Warning Signs with SNDK. Is XPAR:SAF fairly valued? Test your thesis with our free DCF calculator.

Tweedy Browne International Value (Trades, Portfolio) recently submitted its N-PORT filing for the third quarter of 2025, revealing strategic investment decisions made during this period. The Tweedy, Browne Global Value Fund, established on June 15, 1993, is managed by a team of seasoned investment professionals, including Roger R. de Bree, Frank H. Hawrylak, Jay Hill, Sean McDonald, Thomas H. Shrager, John D. Spears, and Robert Q. Wyckoff, Jr. The fund employs a "Ben Graham" value-oriented approach, focusing on securities trading at discounts to intrinsic value. Primarily investing in foreign equity securities, the fund also selectively invests in U.S. equities when attractive opportunities arise. The fund's strategy includes hedging foreign currency exposure back into the U.S. dollar to mitigate currency risk.Teleperformance SE: A Key Exit in Tweedy Browne International Value's Q3 2025 Portfolio Adjustments

Summary of New Buy

Tweedy Browne International Value (Trades, Portfolio) added a total of four stocks to its portfolio, with notable additions including:

The most significant addition was Breedon Group PLC (LSE:BREE), with 6,757,986 shares, accounting for 0.77% of the portfolio and a total value of 32.68 million. The second largest addition was Berkeley Group Holdings (The) PLC (LSE:BKG), consisting of 473,985 shares, representing approximately 0.58% of the portfolio, with a total value of 24.52 million. The third largest addition was Sodexo (XPAR:SW), with 133,755 shares, accounting for 0.2% of the portfolio and a total value of 8.45 million.

Key Position Increases

Tweedy Browne International Value (Trades, Portfolio) also increased stakes in a total of five stocks, with significant increases in:

Azelis Group NV (XBRU:AZE), with an additional 2,089,390 shares, bringing the total to 3,551,800 shares. This adjustment represents a 142.87% increase in share count, a 0.66% impact on the current portfolio, and a total value of 48.37 million. Pets at Home Group PLC (LSE:PETS), with an additional 6,604,005 shares, bringing the total to 12,591,767. This adjustment represents a 110.29% increase in share count, with a total value of 34.80 million.

Summary of Sold Out

Tweedy Browne International Value (Trades, Portfolio) completely exited six holdings in the third quarter of 2025, including:

Teleperformance SE (XPAR:TEP): All 809,227 shares were sold, resulting in a -1.81% impact on the portfolio. Babcock International Group PLC (LSE:BAB): All 1,447,120 shares were liquidated, causing a -0.53% impact on the portfolio.

Story Continues

Key Position Reduces

Tweedy Browne International Value (Trades, Portfolio) also reduced positions in nine stocks, with significant changes including:

Reduced BAE Systems PLC (LSE:BA.) by 2,371,021 shares, resulting in a -45.22% decrease in shares and a -1.42% impact on the portfolio. The stock traded at an average price of 18.51 during the quarter and has returned 5.62% over the past three months and 74.68% year-to-date. Reduced Rheinmetall AG (XTER:RHM) by 23,405 shares, resulting in a -55.61% reduction in shares and a -1.15% impact on the portfolio. The stock traded at an average price of 1,768.20 during the quarter and has returned 1.98% over the past three months and 207.77% year-to-date.

Portfolio Overview

As of the third quarter of 2025, Tweedy Browne International Value (Trades, Portfolio)'s portfolio included 88 stocks. The top holdings were 3.94% in Safran SA (XPAR:SAF), 3.77% in Roche Holding AG (XSWX:ROG), 3.62% in Novartis AG (XSWX:NOVN), 3.61% in Ionis Pharmaceuticals Inc (NASDAQ:IONS), and 3.36% in United Overseas Bank Ltd (SGX:U11).Teleperformance SE: A Key Exit in Tweedy Browne International Value's Q3 2025 Portfolio Adjustments

The holdings are mainly concentrated in 10 of the 11 industries: Industrials, Consumer Defensive, Healthcare, Financial Services, Basic Materials, Consumer Cyclical, Technology, Energy, Communication Services, and Real Estate.Teleperformance SE: A Key Exit in Tweedy Browne International Value's Q3 2025 Portfolio Adjustments

View Comments