From Graham to Global: Tweedy, Browne’s Next Chapter

Following the strong debut of its first ETF, Tweedy, Browne Company has launched a second fund today. This is an internationally focused sibling aimed at replicating the firm’s initial success.

In December 2024, the Tweedy, Browne Insider + Value ETF (COPY) began trading. As of September 5, the fund was up 22% in 2025, and its assets had climbed to $145 million. In the last three months, net inflows exceeded $90 million. Today, the Tweedy, Browne International Insider + Value ETF (ICPY) hopes to follow in the footsteps of its younger brother.

100+ Years of Value Investing

Tweedy, Browne has been around for more than 100 years. The firm’s value-oriented investment methodologies were associated with investment legends such as Benjamin Graham and Warren Buffett. Until the end of 2024, Tweedy’s fundamentally focused security analysis was only available in mutual funds and managed accounts. The firm has since joined many of its asset management peers in the ETF market.

ICPY will use the same proprietary multifactor model used by COPY but focus exclusively on companies based outside of the U.S. The actively managed strategy seeks to identify companies believed to be undervalued and where shares are being purchased by insiders or through a corporate program

Leveraging the Insider’s Edge

“We’ve long believed that the behaviors of informed insiders, whether expressed through open-market purchases or thoughtful buyback programs, can offer powerful signals of future value,” said John Spears, managing director and member of Tweedy, Browne’s Investment Committee. “Importantly, this pattern has held outside the U.S. as well. This new ETF allows us to focus exclusively on international companies where we believe the ‘insider’s edge’ can also be potent.”

COPY recently held approximately 180 positions. These were spread around the world and across a range of market capitalizations. As of June 2025, two-thirds of ETF assets were in stocks with a market cap of $10 billion or less. The U.S. was the largest country exposure but was just 27% of assets. Canada, Germany, South Korea, Sweden, and the U.K. were also well-represented. Holdings included Burberry Group, Dundee Precious Metals, KT Corp. and Stonex Group. 

A Growing ETF Presence

“Launching our first ETF last December offered investors tax-efficient access to this active strategy, and we’ve been encouraged by its early success,” explained Jason Minard, managing director and head of client services for Tweedy, Browne. “With this new international fund, we’re applying the same value-conscious approach, grounded in insider buying signals, to non-U.S. stocks, offering investors another way to put this strategy to work.”

TMX VettaFi has had the pleasure of hosting educational events for advisors with Minard, Spears and the Tweedy, Browne team. As more advisors appreciate that the long-time value manager has a growing ETF presence, we believe Tweedy, Browne can have further success.  

For more news, information, and analysis, visit VettaFi | ETF Trends.

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