UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS

OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-07458

Tweedy, Browne Fund Inc.

(Exact name of registrant as specified in charter)

One Station Place, 5th Floor

Stamford, CT 06902

(Address of principal executive offices) (Zip code)

Elise M. Dolan

Tweedy, Browne Company LLC

One Station Place, 5th Floor

Stamford, CT 06902

(Name and address of agent for service)

Registrant’s telephone number, including area code: 203-703-0600

Date of fiscal year end: March 31

Date of reporting period: June 30, 2017

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

Item 1. Schedule of Investments.

The Schedule(s) of Investments is attached herewith.

Tweedy, Browne Global Value Fund

Portfolio of Investments

June 30, 2017 (Unaudited)

Shares			Value (Note 1)
		COMMON STOCKS—85.3%
		Canada—1.2%
	90,300	E-L Financial Corp., Ltd.		$58,753,754
	1,500,000	National Bank of Canada		62,982,213
				121,735,967
		Chile—1.6%
	15,195,200	Antofagasta plc		157,804,279
		China—1.4%
	783,858	Baidu Inc., Sponsored ADR(a)		140,200,842
		Czech Republic—0.0%(b)
	2,800	Philip Morris CR a.s.		1,845,442
		France—12.3%
	760,360	Cie Generale des Etablissements Michelin		100,945,406
	7,135,610	CNP Assurances		159,962,607
	4,304,900	Safran SA		393,974,675
	5,998,250	SCOR SE		237,461,658
	712,949	Teleperformance SA		91,195,217
	4,782,031	Total SA		236,082,681
				1,219,622,244
		Germany—6.8%
	3,792,735	Axel Springer SE		227,537,280
	1,936,000	Henkel AG & Company, KGaA		233,838,293
	652,000	Krones AG		75,404,952
	42,354	KSB AG		21,771,899
	228,337	Linde AG		43,179,254
	380,000	Muenchener Rueckversicherungs AG		76,518,357
				678,250,035
		Hong Kong—0.9%
	26,265,000	Emperor Entertainment Hotel Ltd.		6,358,953
	5,678,136	Great Eagle Holdings Ltd.		28,876,378
	6,111,500	Hang Lung Group Ltd.		25,286,968
	5,000,000	Hongkong & Shanghai Hotels Ltd./The		9,030,994
	434,500	Jardine Strategic Holdings Ltd.		18,114,305
	59,000	Miramar Hotel & Investment		136,646
	11,264,000	Oriental Watch Holdings		2,452,946
	2,561,000	Tai Cheung Holdings Ltd.		2,722,915
				92,980,105
		Italy—0.6%
	144,268	Buzzi Unicem SpA		3,585,433
	4,795,392	SOL SpA(c)		58,139,554
				61,724,987
		Japan—1.4%
	2,126,200	Ebara Corporation		58,850,854
	1,368,700	Honda Motor Company Ltd.		37,323,752
	73,800	Lintec Corporation		1,764,211
	1,443,500	NGK Spark Plug Company Ltd.		30,691,719
	164,400	Nippon Kanzai Company Ltd.		2,908,750
		Undisclosed Securities(d)		2,113,976
				133,653,262

Shares			Value (Note 1)
		Mexico—0.5%
	520,112	Coca-Cola Femsa SA de CV, Sponsored ADR(e)		$44,037,883
		Netherlands—7.1%
	1,550,799	Akzo Nobel NV		134,585,234
	3,160,000	Heineken Holding NV		289,232,068
	7,534,860	Royal Dutch Shell plc, Class A		199,678,903
	345,000	Telegraaf Media Groep NV, CVA(a)		2,426,651
	1,378,910	Unilever NV, CVA		75,993,626
				701,916,482
		Norway—0.4%
	900,000	Schibsted ASA		21,660,210
	900,000	Schibsted ASA, Class B		19,822,960
				41,483,170
		Singapore—3.6%
	12,787,454	DBS Group Holdings Ltd.		192,622,142
	10,089,655	United Overseas Bank Ltd.		169,425,009
				362,047,151
		South Korea—4.6%
	150,900	Daegu Department Store Company Ltd.		1,707,953
	210,000	Hyundai Mobis Company Ltd.		45,885,592
	1,482,135	Hyundai Motor Company		206,616,731
	3,919,300	Kia Motors Corporation		130,854,573
	815,800	LG Corporation		55,116,322
	132,553	Samchully Company Ltd.		14,307,823
		Undisclosed Security(d)		984,140
				455,473,134
		Spain—0.8%
	6,063,526	Mediaset España Comunicacion SA		75,347,144
		Sweden—0.0%(b)
	63,360	Cloetta AB, B Shares		260,665
		Switzerland—13.5%
	388,000	CIE Financiere Richemont AG		32,007,518
	218,165	Coltene Holding AG(c)		22,519,303
	53,000	Daetwyler Holding AG, Bearer		9,004,438
	3,582,515	Nestle SA, Registered		312,181,775
	80	Neue Zuercher Zeitung(a)		500,183
	3,275,000	Novartis AG, Registered		272,902,417
	68,640	Phoenix Mecano AG(c)		41,141,711
	1,084,000	Roche Holding AG		276,419,151
	248,117	Siegfried Holding AG(c)		70,148,465
	432,618	Tamedia AG		69,027,338
	807,415	Zurich Insurance Group AG		235,315,122
				1,341,167,421
		Taiwan—0.0%(b)
	739,000	Lumax International Corp., Ltd.		1,428,442
	365,000	Thinking Electronic Industrial Company Ltd.		1,011,489
				2,439,931

SEE NOTES TO PORTFOLIO OF INVESTMENTS

1

Tweedy, Browne Global Value Fund

Portfolio of Investments

June 30, 2017 (Unaudited)

Shares			Value (Note 1)
		Thailand—0.8%
	14,267,700	Bangkok Bank Public Company Ltd., NVDR		$77,701,634
		United Kingdom—17.6%
	12,880,300	BAE Systems plc		105,990,388
	1,325,000	British American Tobacco plc		90,083,133
	5,424,025	Daily Mail & General Trust plc, Class A		46,993,891
	7,854,302	Diageo plc		231,440,983
	44,753,887	G4S plc		189,746,947
	12,375,843	GlaxoSmithKline plc		262,917,337
	22,104,832	HSBC Holdings plc		204,351,613
	1,111,325	Imperial Brands plc		49,781,182
	3,346,355	Provident Financial plc		105,756,728
	486,757	Shire plc		26,795,820
	6,803	Shire plc, ADR		1,124,332
	25,976,349	Standard Chartered plc(a)		262,243,534
	2,900,000	TT Electronics plc		7,279,665
	2,725,044	Unilever plc		147,074,856
		Undisclosed Securities(d)		19,188,350
				1,750,768,759
		United States—10.2%
	594,254	AGCO Corp		40,046,777
	76,000	Alphabet Inc., Class A(a)		70,655,680
	76,208	Alphabet Inc., Class C(a)		69,252,496
	75,700	American National Insurance Company		8,818,293
	396,719	Avnet, Inc.		15,424,435
	1,315,780	Bank of New York Mellon Corporation/The		67,131,096
	1,055,212	Baxter International, Inc.		63,882,534
	436	Berkshire Hathaway Inc., Class A(a)		111,049,200
	301	Berkshire Hathaway Inc., Class B(a)		50,980
	5,214,000	Cisco Systems, Inc.		163,198,200
	587,000	ConocoPhillips		25,804,520
	1,258,435	Devon Energy Corporation		40,232,167
	1,852,170	Halliburton Company		79,106,181
	115,635	International Business Machines Corp		17,788,132
	865,835	Johnson & Johnson		114,541,312
	33,225	NOW Inc.(a)		534,258
	882,900	Philip Morris International, Inc.		103,696,605
	293,500	Phillips 66		24,269,515
				1,015,482,381
		TOTAL COMMON STOCKS (Cost $5,571,854,946)		8,475,942,918

Shares			Value (Note 1)
		PREFERRED STOCKS—0.5%
		Chile—0.4%
	10,000,000	Embotelladora Andina SA		$35,420,663
		Croatia—0.1%
	166,388	Adris Grupa d.d.		11,856,323
		Germany—0.0%(b)
	210,000	Villeroy & Boch AG		4,645,403
		TOTAL PREFERRED STOCKS (Cost $35,405,655)		51,922,389
		REGISTERED INVESTMENT COMPANY—8.0%
	801,050,539	Dreyfus Treasury Securities Cash Management – Institutional Shares (Cost $801,050,539)		801,050,539
Face Value
		U.S. TREASURY BILLS—7.3%
	$300,000,000	0.609%(f) due 07/20/17		299,905,079
	300,000,000	0.645%(f) due 08/17/17		299,751,488
	125,000,000	0.968%(f) due 10/26/2017(e)		124,584,625
		TOTAL U.S. TREASURY BILLS (Cost $724,270,426)		724,241,192

TOTAL INVESTMENTS (Cost $7,132,581,566)	101.1	%	10,053,157,038
UNREALIZED DEPRECIATION ON FORWARD CONTRACTS (Net)	(1.6	)	(157,285,875	)
OTHER ASSETS AND LIABILITIES (Net)	0.5		45,177,886
NET ASSETS	100.0	%	$9,941,049,049

(a)	Non-income producing security.
(b)	Amount represents less than 0.1% of net assets.
(c)	“Affiliated company” as defined by the Investment Company Act of 1940. See Note 1.
(d)	Represents an issuer, a generally smaller capitalization issuer, where disclosure may be disadvantageous to the Fund’s accumulation or disposition program.
(e)	This security has been segregated to cover certain open forward contracts. At June 30, 2017, liquid assets totaling $168,622,508 have been segregated to cover such open forward contracts.
(f)	Rate represents annualized yield at date of purchase.

Abbreviations:
ADR	—	American Depositary Receipt
CVA	—	Certificaaten van aandelen (Share Certificates)
NVDR	—	Non Voting Depository Receipt

SEE NOTES TO PORTFOLIO OF INVESTMENTS

2

Tweedy, Browne Global Value Fund

Sector Diversification

June 30, 2017 (Unaudited)

Sector Diversification	Percentage of Net Assets
COMMON STOCKS:
Pharmaceuticals, Biotechnology & Life Sciences		10.3	%
Banks		9.8
Insurance		8.9
Capital Goods		7.8
Energy		6.0
Beverage		5.7
Automobiles & Components		5.6
Food		5.4
Media		4.7
Materials		4.0
Commercial Services & Supplies		2.9
Tobacco		2.5
Household & Personal Products		2.4
Technology Hardware & Equipment		2.1
Diversified Financials		1.7
Software & Services		1.6
Internet Software & Services		1.4
Health Care Equipment & Services		0.9
Real Estate		0.6
Consumer Durables & Apparel		0.3
Retailing		0.2
Utilities		0.2
Electronic Equipment & Instruments		0.2
Consumer Services		0.1
Total Common Stocks		85.3
Preferred Stocks		0.5
Registered Investment Company		8.0
U.S. Treasury Bills		7.3
Unrealized Depreciation on Forward Contracts		(1.6	)
Other Assets and Liabilities (Net)		0.5
Net Assets		100.0	%

Portfolio Composition

June 30, 2017 (Unaudited)

Schedule of Forward Exchange Contracts

June 30, 2017 (Unaudited)

Contracts			Counter- party		Contract Value Date		Contract Value on Origination Date			Value 06/30/17 (Note 1)			Unrealized Appreciation (Depreciation)
	FORWARD EXCHANGE CONTRACTS TO BUY(a)
	60,000,000	Great Britain Pound Sterling		NTC		7/5/17		$77,904,000			$77,950,326			$46,326
	25,000,000,000	South Korean Won		SSB		8/23/17		21,956,789			21,866,465			(90,324	)
	40,000,000,000	South Korean Won		SSB		8/28/17		35,133,948			34,988,318			(145,630	)
								$134,994,737			$134,805,109			$(189,628	)
	FORWARD EXCHANGE CONTRACTS TO SELL(a)
	45,000,000	Canadian Dollar		NTC		8/17/17		$(34,559,398	)		$(34,678,865	)		$(119,467	)
	8,000,000	Canadian Dollar		NTC		8/28/17		(6,196,027	)		(6,165,991	)		30,036
	22,000,000	Canadian Dollar		NTC		9/21/17		(16,714,912	)		(16,961,972	)		(247,060	)
	35,000,000	Canadian Dollar		NTC		12/13/17		(26,422,473	)		(27,009,204	)		(586,731	)
	27,000,000	Canadian Dollar		SSB		12/18/17		(20,597,794	)		(20,836,764	)		(238,970	)
	15,000,000,000	Chilean Peso		SSB		12/7/17		(21,629,416	)		(22,449,136	)		(819,720	)
	7,000,000,000	Chilean Peso		SSB		3/2/18		(10,667,479	)		(10,445,046	)		222,433
	564,000,000	Chinese Yuan		BNY		3/5/18		(79,954,636	)		(81,776,448	)		(1,821,812	)
	375,000,000	Chinese Yuan		JPM		3/26/18		(52,861,946	)		(54,295,631	)		(1,433,685	)
	45,000,000	European Union Euro		JPM		8/17/17		(51,106,500	)		(51,453,762	)		(347,262	)
	90,000,000	European Union Euro		SSB		10/16/17		(102,243,600	)		(103,241,895	)		(998,295	)
	65,000,000	European Union Euro		SSB		10/26/17		(72,423,975	)		(74,605,359	)		(2,181,384	)
	150,000,000	European Union Euro		SSB		11/8/17		(168,486,000	)		(172,291,678	)		(3,805,678	)
	50,000,000	European Union Euro		SSB		11/13/17		(56,552,500	)		(57,446,661	)		(894,161	)
	100,000,000	European Union Euro		NTC		11/15/17		(112,267,500	)		(114,906,208	)		(2,638,708	)
	75,000,000	European Union Euro		NTC		11/20/17		(83,124,375	)		(86,203,827	)		(3,079,452	)

SEE NOTES TO PORTFOLIO OF INVESTMENTS

3

Tweedy, Browne Global Value Fund

Schedule of Forward Exchange Contracts

June 30, 2017 (Unaudited)

Contracts			Counter- party		Contract Value Date		Contract Value on Origination Date			Value 06/30/17 (Note 1)			Unrealized Appreciation (Depreciation)
	FORWARD EXCHANGE CONTRACTS TO SELL(a) (continued)
	40,000,000	European Union Euro		SSB		11/22/17		$(43,701,200	)		$(45,980,533	)		$(2,279,333	)
	45,000,000	European Union Euro		BNY		12/28/17		(47,700,000	)		(51,832,757	)		(4,132,757	)
	150,000,000	European Union Euro		NTC		12/18/17		(161,081,250	)		(172,678,874	)		(11,597,624	)
	100,000,000	European Union Euro		NTC		1/12/18		(108,062,500	)		(115,281,404	)		(7,218,904	)
	100,000,000	European Union Euro		JPM		2/21/18		(107,795,000	)		(115,542,208	)		(7,747,208	)
	150,000,000	European Union Euro		JPM		3/12/18		(160,822,500	)		(173,499,756	)		(12,677,256	)
	120,000,000	European Union Euro		NTC		3/15/18		(129,582,000	)		(138,823,385	)		(9,241,385	)
	125,000,000	European Union Euro		SSB		3/26/18		(136,912,750	)		(144,697,827	)		(7,785,077	)
	115,000,000	European Union Euro		BNY		4/30/18		(125,821,500	)		(133,386,538	)		(7,565,038	)
	100,000,000	European Union Euro		NTC		5/2/18		(111,601,000	)		(116,001,467	)		(4,400,467	)
	100,000,000	European Union Euro		BNY		5/7/18		(110,846,000	)		(116,034,411	)		(5,188,411	)
	60,000,000	Great Britain Pound Sterling		NTC		7/5/17		(79,398,000	)		(77,950,326	)		1,447,674
	65,000,000	Great Britain Pound Sterling		SSB		8/9/17		(87,267,700	)		(84,540,607	)		2,727,093
	65,000,000	Great Britain Pound Sterling		BNY		8/17/17		(85,189,000	)		(84,559,055	)		629,945
	45,000,000	Great Britain Pound Sterling		JPM		9/21/17		(59,836,500	)		(58,602,220	)		1,234,280
	50,000,000	Great Britain Pound Sterling		NTC		10/16/17		(62,537,000	)		(65,163,154	)		(2,626,154	)
	55,000,000	Great Britain Pound Sterling		NTC		11/8/17		(67,863,125	)		(71,728,547	)		(3,865,422	)
	90,000,000	Great Britain Pound Sterling		SSB		11/21/17		(112,946,850	)		(117,419,427	)		(4,472,577	)
	60,000,000	Great Britain Pound Sterling		BNY		12/28/17		(74,784,000	)		(78,365,970	)		(3,581,970	)
	75,000,000	Great Britain Pound Sterling		JPM		2/21/18		(94,346,250	)		(98,118,290	)		(3,772,040	)
	75,000,000	Great Britain Pound Sterling		NTC		2/21/18		(94,380,000	)		(98,118,290	)		(3,738,290	)
	50,000,000	Great Britain Pound Sterling		NTC		3/12/18		(62,005,000	)		(65,449,314	)		(3,444,314	)
	60,000,000	Great Britain Pound Sterling		JPM		3/15/18		(74,172,000	)		(78,546,215	)		(4,374,215	)
	45,000,000	Great Britain Pound Sterling		SSB		3/28/18		(56,904,075	)		(58,932,546	)		(2,028,471	)
	20,000,000	Great Britain Pound Sterling		SSB		4/19/18		(25,281,400	)		(26,209,473	)		(928,073	)
	35,000,000	Great Britain Pound Sterling		NTC		4/30/18		(45,333,925	)		(45,881,669	)		(547,744	)
	85,000,000	Great Britain Pound Sterling		BNY		5/2/18		(110,287,500	)		(111,433,578	)		(1,146,078	)
	75,000,000	Great Britain Pound Sterling		BNY		5/24/18		(98,160,000	)		(98,388,494	)		(228,494	)
	75,000,000	Great Britain Pound Sterling		NTC		7/10/18		(98,446,875	)		(98,527,398	)		(80,523	)
	1,200,000,000	Japanese Yen		JPM		8/21/17		(10,733,904	)		(10,703,426	)		30,478
	3,500,000,000	Japanese Yen		JPM		9/6/17		(31,780,219	)		(31,239,724	)		540,495
	3,000,000,000	Japanese Yen		BNY		9/19/17		(27,090,482	)		(26,793,985	)		296,497
	3,000,000,000	Japanese Yen		SSB		12/7/18		(27,942,327	)		(27,465,851	)		476,476
	420,000,000	Mexican Peso		NTC		11/22/17		(19,622,134	)		(22,694,412	)		(3,072,278	)
	250,000,000	Mexican Peso		BNY		3/15/18		(12,112,403	)		(13,290,101	)		(1,177,698	)
	310,000,000	Norwegian Krone		JPM		1/12/18		(36,601,925	)		(37,149,682	)		(547,757	)
	45,000,000	Singapore Dollar		BNY		7/13/17		(33,190,736	)		(32,690,268	)		500,468
	33,000,000	Singapore Dollar		SSB		8/17/17		(24,571,305	)		(23,985,966	)		585,339
	40,000,000	Singapore Dollar		SSB		9/21/17		(29,289,846	)		(29,089,238	)		200,608
	50,000,000	Singapore Dollar		JPM		12/7/17		(35,014,006	)		(36,402,750	)		(1,388,744	)
	50,000,000	Singapore Dollar		SSB		12/28/17		(34,569,612	)		(36,414,116	)		(1,844,504	)
	80,000,000	Singapore Dollar		JPM		5/2/18		(57,607,835	)		(58,357,979	)		(750,144	)
	75,000,000	Singapore Dollar		JPM		5/24/18		(54,081,338	)		(54,726,375	)		(645,037	)
	40,000,000	Singapore Dollar		SSB		6/4/18		(28,999,166	)		(29,191,607	)		(192,441	)
	80,000,000	Singapore Dollar		JPM		6/12/18		(58,088,876	)		(58,389,336	)		(300,460	)
	25,000,000,000	South Korean Won		SSB		8/23/17		(22,711,787	)		(21,866,465	)		845,322
	40,000,000,000	South Korean Won		SSB		8/28/17		(35,571,365	)		(34,988,318	)		583,047
	34,000,000,000	South Korean Won		JPM		10/26/17		(30,316,540	)		(29,772,726	)		543,814
	25,000,000,000	South Korean Won		SSB		12/28/17		(20,992,350	)		(21,917,975	)		(925,625	)
	55,400,000,000	South Korean Won		BNY		2/13/18		(48,914,003	)		(48,614,503	)		299,500
	74,000,000,000	South Korean Won		JPM		2/14/18		(64,983,535	)		(64,937,599	)		45,936
	115,000,000,000	South Korean Won		SSB		2/26/18		(101,205,668	)		(100,940,030	)		265,638
	60,000,000	Swiss Franc		BNY		8/17/17		(62,794,349	)		(62,844,547	)		(50,198	)
	40,000,000	Swiss Franc		BNY		11/8/17		(41,788,550	)		(42,129,418	)		(340,868	)
	80,000,000	Swiss Franc		JPM		11/13/17		(84,334,809	)		(84,288,025	)		46,784
	100,000,000	Swiss Franc		BNY		11/15/17		(104,799,832	)		(105,374,633	)		(574,801	)
	80,000,000	Swiss Franc		SSB		11/20/17		(82,826,024	)		(84,328,925	)		(1,502,901	)
	70,000,000	Swiss Franc		JPM		11/22/17		(71,501,532	)		(73,798,040	)		(2,296,508	)
	65,000,000	Swiss Franc		JPM		12/13/17		(65,957,706	)		(68,626,666	)		(2,668,960	)
	50,000,000	Swiss Franc		BNY		12/18/17		(50,289,921	)		(52,808,075	)		(2,518,154	)
	100,000,000	Swiss Franc		BNY		3/12/18		(101,224,820	)		(106,233,612	)		(5,008,792	)
	100,000,000	Swiss Franc		NTC		3/15/18		(101,332,523	)		(106,255,783	)		(4,923,260	)
	65,000,000	Swiss Franc		NTC		3/26/18		(66,810,566	)		(69,119,150	)		(2,308,584	)
	60,000,000	Swiss Franc		NTC		6/12/18		(63,667,233	)		(64,150,646	)		(483,413	)
	400,000,000	Thailand Baht		BNY		8/28/17		(11,444,921	)		(11,775,252	)		(330,331	)
	725,000,000	Thailand Baht		JPM		5/21/18		(20,796,282	)		(21,353,657	)		(557,375	)

SEE NOTES TO PORTFOLIO OF INVESTMENTS

4

Tweedy, Browne Global Value Fund

Schedule of Forward Exchange Contracts

June 30, 2017 (Unaudited)

Contracts			Counter- party		Contract Value Date		Contract Value on Origination Date			Value 06/30/17 (Note 1)			Unrealized Appreciation (Depreciation)
	FORWARD EXCHANGE CONTRACTS TO SELL(a) (continued)
	850,000,000	Thailand Baht		BNY		6/11/18		$(24,766,900	)		$(25,037,076	)		$(270,176	)
	500,000,000	Thailand Baht		JPM		6/18/18		(14,639,145	)		(14,728,036	)		(88,891	)
	TOTAL							$(5,363,839,906	)		$(5,520,936,153	)		$(157,096,247	)
	Unrealized Depreciation on Forward Contracts (Net)													$(157,285,875	)

^(a) Primary risk exposure being hedged against is currency risk.

Counterparty Abbreviations:
BNY	—	The Bank of New York Mellon
JPM	—	JPMorgan Chase Bank NA
NTC	—	Northern Trust Company
SSB	—	State Street Bank and Trust Company

SEE NOTES TO PORTFOLIO OF INVESTMENTS

5

Tweedy, Browne Global Value Fund II – Currency Unhedged

Portfolio of Investments

June 30, 2017 (Unaudited)

Shares			Value (Note 1)
		COMMON STOCKS—84.2%
		Canada—0.6%
	3,500	E-L Financial Corp., Ltd.		$2,277,277
		China—1.4%
	29,386	Baidu Inc., Sponsored ADR(a)		5,255,980
		France—13.5%
	194,310	CNP Assurances		4,355,946
	167,400	Safran SA		15,320,068
	382,960	SCOR SE		15,160,808
	29,680	Teleperformance SA		3,796,448
	218,433	Total SA		10,783,754
				49,417,024
		Germany—7.5%
	177,000	Axel Springer SE		10,618,748
	50,800	Henkel AG & Company, KGaA		6,135,840
	26,726	Krones AG		3,090,909
	13,543	Muenchener Rueckversicherungs AG		2,727,074
	36,984	Siemens AG		5,076,616
				27,649,187
		Hong Kong—1.5%
	4,870,000	Emperor Entertainment Hotel Ltd.		1,179,063
	316,349	Great Eagle Holdings Ltd.		1,608,805
	20,587	Jardine Strategic Holdings Ltd.		858,272
	109,796	Miramar Hotel & Investment		254,291
	4,448,000	Oriental Watch Holdings		968,635
	655,000	Tai Cheung Holdings Ltd.		696,411
				5,565,477
		Italy—1.0%
	113,408	Buzzi Unicem SpA		2,818,482
	66,455	SOL SpA		805,703
				3,624,185
		Japan—1.9%
	110,200	Ebara Corporation		3,050,214
	61,700	Lintec Corporation		1,474,957
	83,600	NGK Spark Plug Company Ltd.		1,777,504
		Undisclosed Securities(b)		844,447
				7,147,122
		Netherlands—6.3%
	43,515	Akzo Nobel NV		3,776,425
	29,000	Heineken Holding NV		2,654,345
	29,400	Heineken NV		2,854,594
	181,407	Royal Dutch Shell plc, Class A		4,807,409
	161,712	Unilever NV, CVA		8,912,171
				23,004,944
		Singapore—4.9%
	657,813	DBS Group Holdings Ltd.		9,908,880
	488,670	United Overseas Bank Ltd.		8,205,724
				18,114,604

Shares			Value (Note 1)
		South Korea—5.2%
	10,245	Hyundai Mobis Company Ltd.		$2,238,561
	56,125	Hyundai Motor Company		7,824,094
	164,700	Kia Motors Corporation		5,498,877
	32,000	LG Corporation		2,161,954
	13,800	Samchully Company Ltd.		1,489,577
				19,213,063
		Switzerland—15.5%
	157,355	ABB Ltd.		3,890,948
	17,047	Coltene Holding AG		1,759,616
	142,100	Nestle SA, Registered		12,382,650
	161,339	Novartis AG, Registered		13,444,215
	5,015	Phoenix Mecano AG		3,005,910
	56,300	Roche Holding AG		14,356,456
	665	Tamedia AG		106,106
	26,799	Zurich Insurance Group AG		7,810,370
				56,756,271
		Thailand—1.8%
	1,220,100	Bangkok Bank Public Company Ltd., NVDR		6,644,641
		United Kingdom—13.8%
	547,600	BAE Systems plc		4,506,132
	238,503	Daily Mail & General Trust plc, Class A		2,066,396
	344,873	Diageo plc		10,162,297
	2,477,190	G4S plc		10,502,758
	5,245	GlaxoSmithKline plc		111,427
	821,432	HSBC Holdings plc		7,593,858
	116,639	Imperial Brands plc		5,224,779
	5,082	Shire plc		279,763
	831,653	Standard Chartered plc(a)		8,395,931
		Undisclosed Securities(b)		1,946,746
				50,790,087
		United States—9.3%
	53,840	AGCO Corp		3,628,278
	89,387	Avnet, Inc.		3,475,367
	212,500	Cisco Systems, Inc.		6,651,250
	29,399	ConocoPhillips		1,292,380
	70,900	Halliburton Company		3,028,139
	78,600	Johnson & Johnson		10,397,994
	36,100	MasterCard, Inc., Class A		4,384,345
	14,700	Phillips 66		1,215,543
				34,073,296
		TOTAL COMMON STOCKS (Cost $241,035,794)		309,533,158
		PREFERRED STOCKS—1.0%
		Chile—0.9%
	940,000	Embotelladora Andina SA		3,329,542
		Germany—0.1%
	648	KSB AG		325,009
		TOTAL PREFERRED STOCKS (Cost $3,051,153)		3,654,551

SEE NOTES TO PORTFOLIO OF INVESTMENTS

6

Tweedy, Browne Global Value Fund II – Currency Unhedged

Portfolio of Investments

June 30, 2017 (Unaudited)

Shares			Value (Note 1)
		REGISTERED INVESTMENT COMPANY—14.2%
	52,002,573	Dreyfus Government Securities Cash Management – Institutional Shares (Cost $52,002,573)		$52,002,573

TOTAL INVESTMENTS (Cost $296,089,520)	99.4	%	365,190,282
OTHER ASSETS AND LIABILITIES (Net)	0.6		2,263,225
NET ASSETS	100.0	%	$367,453,507

(a)	Non-income producing security.
(b)	Represents an issuer, a generally smaller capitalization issuer, where disclosure may be disadvantageous to the Fund’s accumulation or disposition program.

Abbreviations:
ADR	—	American Depositary Receipt
CVA	—	Certificaaten van aandelen (Share Certificates)
NVDR	—	Non Voting Depository Receipt

Sector Diversification

June 30, 2017 (Unaudited)

Sector Diversification	Percentage of Net Assets
COMMON STOCKS:
Capital Goods		11.3	%
Banks		11.1
Pharmaceuticals, Biotechnology & Life Sciences		10.5
Insurance		8.8
Food		5.8
Energy		5.7
Automobiles & Components		4.7
Beverage		4.3
Commercial Services & Supplies		3.9
Media		3.6
Technology Hardware & Equipment		2.6
Software & Services		2.6
Materials		2.5
Household & Personal Products		1.7
Tobacco		1.4
Electronic Equipment & Instruments		0.9
Retailing		0.8
Real Estate		0.6
Utilities		0.5
Health Care Equipment & Services		0.5
Consumer Services		0.4
Total Common Stocks		84.2
Preferred Stocks		1.0
Registered Investment Company		14.2
Other Assets and Liabilities (Net)		0.6
Net Assets		100.0	%

Portfolio Composition

June 30, 2017 (Unaudited)

SEE NOTES TO PORTFOLIO OF INVESTMENTS

7

Tweedy, Browne Value Fund

Portfolio of Investments

June 30, 2017 (Unaudited)

Shares			Value (Note 1)
		COMMON STOCKS—90.6%
		Chile—1.6%
	846,500	Antofagasta plc		$8,791,021
		China—1.6%
	49,610	Baidu Inc., Sponsored ADR(a)		8,873,245
		France—5.1%
	360,300	CNP Assurances		8,077,029
	411,111	Total SA		20,296,018
				28,373,047
		Germany—4.4%
	164,718	Axel Springer SE		9,881,915
	84,400	Henkel AG & Company, KGaA		10,194,190
	22,070	Muenchener Rueckversicherungs AG		4,444,106
				24,520,211
		Japan—0.4%
	87,000	Honda Motor Company Ltd.		2,372,446
		Netherlands—10.3%
	297,000	Heineken Holding NV		27,184,153
	765,749	Royal Dutch Shell plc, Class A		20,292,868
	183,946	Unilever NV, ADR		10,166,695
				57,643,716
		Singapore—1.6%
	550,917	United Overseas Bank Ltd.		9,250,972
		South Korea—4.5%
	92,075	Hyundai Motor Company		12,835,697
	260,000	Kia Motors Corporation		8,680,680
	56,800	LG Corporation		3,837,469
				25,353,846
		Switzerland—13.1%
	238,000	Nestle SA, Registered, Sponsored ADR		20,753,600
	254,363	Novartis AG, Registered		21,195,810
	79,800	Roche Holding AG		20,348,938
	38,415	Zurich Insurance Group AG		11,195,767
				73,494,115
		United Kingdom—7.6%
	143,583	Diageo plc, Sponsored ADR		17,205,551
	78,645	Shire plc		4,329,382
	1,099	Shire plc, ADR		181,632
	952,235	Standard Chartered plc(a)		9,613,263
	205,000	Unilever plc, Sponsored ADR		11,094,600
				42,424,428
		United States—40.4%
	94,535	3M Company		19,681,240
	6,150	Alphabet Inc., Class A(a)		5,717,532
	6,166	Alphabet Inc., Class C(a)		5,603,229
	393,000	Bank of New York Mellon Corporation/The		20,050,860

Shares			Value (Note 1)
		United States (continued)
	170,490	Baxter International, Inc.		$10,321,465
	80	Berkshire Hathaway Inc., Class A(a)		20,376,000
	30,626	Berkshire Hathaway Inc., Class B(a)		5,187,126
	527,475	Cisco Systems, Inc.		16,509,968
	460,136	Comcast Corporation, Class A		17,908,493
	161,695	ConocoPhillips		7,108,112
	129,850	Emerson Electric Company		7,741,657
	151,709	Halliburton Company		6,479,491
	128,400	Johnson & Johnson		16,986,036
	101,925	MasterCard, Inc., Class A		12,378,791
	488,706	MRC Global, Inc.(a)		8,073,423
	36,818	National Western Life Insurance Company, Class A		11,767,769
	51,335	Philip Morris International, Inc.		6,029,296
	57,532	Signet Jewelers Ltd.		3,638,324
	437,085	Wells Fargo & Company		24,218,880
				225,777,692
		TOTAL COMMON STOCKS (Cost $264,192,193)		506,874,739
		REGISTERED INVESTMENT COMPANY—8.2%
	45,862,416	Dreyfus Government Securities Cash Management – Institutional Shares(Cost $45,862,416)		45,862,416
Face Value
		U.S. TREASURY BILL—2.5%
	$14,000,000	1.103%(b) due 12/07/17(c) (Cost $13,933,096)		13,934,676

TOTAL INVESTMENTS (COST $323,987,705)	101.3	%	566,671,831
UNREALIZED DEPRECIATION ON FORWARD CONTRACTS (Net)	(1.3	)	(7,094,168	)
OTHER ASSETS AND LIABILITIES (Net)	(0.0	)	(131,487	)
NET ASSETS	100.0	%	$559,446,176

(a)	Non-income producing security.
(b)	Rate represents annualized yield at date of purchase.
(c)	This security has been segregated to cover certain open forward contracts. At June 30, 2017, liquid assets totaling $13,934,676 have been segregated to cover such open forward contracts.

Abbreviations:
ADR	—	American Depositary Receipt

SEE NOTES TO PORTFOLIO OF INVESTMENTS

8

Tweedy, Browne Value Fund

Sector Diversification

June 30, 2017 (Unaudited)

Sector Diversification	Percentage of Net Assets
COMMON STOCKS:
Pharmaceuticals, Biotechnology & Life Sciences		11.3	%
Insurance		10.9
Energy		9.7
Beverage		7.9
Banks		7.7
Food		7.5
Capital Goods		7.0
Software & Services		5.8
Media		5.0
Automobiles & Components		4.3
Diversified Financials		3.6
Technology Hardware & Equipment		3.0
Health Care Equipment & Services		1.8
Household & Personal Products		1.8
Materials		1.6
Tobacco		1.1
Retailing		0.6
Total Common Stocks		90.6
Registered Investment Company		8.2
U.S. Treasury Bill		2.5
Unrealized Depreciation on Forward Contracts		(1.3	)
Other Assets and Liabilities (Net)		(0.0	)(a)
Net Assets		100.0	%

^(a) Amount represents less than 0.1% of net assets

Portfolio Composition

June 30, 2017 (Unaudited)

Schedule of Forward Exchange Contracts

June 30, 2017 (Unaudited)

Contracts			Counter- party		Contract Value Date		Contract Value on Origination Date			Value 06/30/17 (Note 1)			Unrealized Appreciation (Depreciation)
	FORWARD EXCHANGE CONTRACTS TO BUY(a)
	2,500,000	European Union Euro		JPM		7/5/2017		$2,851,500			$2,852,151			$651
	1,500,000	Great Britain Pound Sterling		NTC		7/5/2017		1,947,600			1,948,758			1,158
	2,500,000	Swiss Franc		JPM		7/5/2017		2,607,916			2,611,424			3,508
	TOTAL							$7,407,016			$7,412,333			$5,317
	FORWARD EXCHANGE CONTRACTS TO SELL(a)
	35,000,000	Chinese Yuan Renminbi		BNY		3/5/18		$(4,961,724	)		$(5,074,780	)		$(113,056	)
	23,000,000	Chinese Yuan Renminbi		JPM		3/26/18		(3,242,199	)		(3,330,132	)		(87,933	)
	2,500,000	European Union Euro		JPM		7/5/17		(2,794,800	)		(2,852,151	)		(57,351	)
	2,750,000	European Union Euro		SSB		11/22/17		(3,004,458	)		(3,161,162	)		(156,704	)
	7,000,000	European Union Euro		NTC		12/18/17		(7,517,125	)		(8,058,347	)		(541,222	)
	6,500,000	European Union Euro		BNY		12/28/17		(6,890,000	)		(7,486,954	)		(596,954	)
	5,000,000	European Union Euro		JPM		3/12/18		(5,360,750	)		(5,783,325	)		(422,575	)
	25,000,000	European Union Euro		NTC		3/15/18		(26,996,250	)		(28,921,538	)		(1,925,288	)
	14,000,000	European Union Euro		BNY		4/30/18		(15,317,400	)		(16,238,361	)		(920,961	)
	4,500,000	European Union Euro		JPM		7/10/18		(5,236,200	)		(5,240,720	)		(4,520	)
	1,500,000	Great Britain Pound Sterling		NTC		7/5/17		(1,984,950	)		(1,948,758	)		36,192
	3,200,000	Great Britain Pound Sterling		BNY		8/17/17		(4,193,920	)		(4,162,907	)		31,013
	1,500,000	Great Britain Pound Sterling		NTC		10/3/17		(1,960,800	)		(1,954,139	)		6,661
	3,000,000	Great Britain Pound Sterling		SSB		12/18/17		(3,808,290	)		(3,917,131	)		(108,841	)
	2,700,000	Great Britain Pound Sterling		BNY		12/28/17		(3,365,280	)		(3,526,469	)		(161,189	)
	5,500,000	Great Britain Pound Sterling		JPM		2/21/18		(6,918,725	)		(7,195,341	)		(276,616	)
	4,500,000	Great Britain Pound Sterling		NTC		7/10/18		(5,906,813	)		(5,911,644	)		(4,831	)
	130,000,000	Japanese Yen		JPM		8/21/17		(1,162,840	)		(1,159,538	)		3,302
	1,250,000	Singapore Dollar		JPM		11/8/2017		(900,752	)		(909,683	)		(8,931	)
	9,000,000	Singapore Dollar		SSB		12/28/17		(6,222,530	)		(6,554,541	)		(332,011	)
	7,500,000,000	South Korean Won		SSB		12/18/17		(6,393,153	)		(6,574,146	)		(180,993	)
	2,500,000,000	South Korean Won		SSB		12/28/17		(2,099,235	)		(2,191,798	)		(92,563	)
	4,500,000,000	South Korean Won		BNY		2/13/18		(3,973,159	)		(3,948,831	)		24,328
	3,000,000,000	South Korean Won		JPM		2/14/18		(2,634,468	)		(2,632,605	)		1,863

SEE NOTES TO PORTFOLIO OF INVESTMENTS

9

Tweedy, Browne Value Fund

Schedule of Forward Exchange Contracts

June 30, 2017 (Unaudited)

Contracts			Counter- party		Contract Value Date		Contract Value on Origination Date			Value 06/30/17 (Note 1)			Unrealized Appreciation (Depreciation)
	FORWARD EXCHANGE CONTRACTS TO SELL(a) (continued)
	2,500,000	Swiss Franc		JPM		7/5/17		$(2,610,857	)		$(2,611,424	)		$(567	)
	3,000,000	Swiss Franc		BNY		8/17/17		(3,139,717	)		(3,142,227	)		(2,510	)
	5,000,000	Swiss Franc		NTC		10/3/17		(5,278,716	)		(5,253,079	)		25,637
	6,700,000	Swiss Franc		BNY		11/8/17		(6,999,582	)		(7,056,677	)		(57,095	)
	8,000,000	Swiss Franc		JPM		11/22/17		(8,171,604	)		(8,434,062	)		(262,458	)
	13,000,000	Swiss Franc		BNY		12/18/17		(13,075,380	)		(13,730,100	)		(654,720	)
	5,000,000	Swiss Franc		NTC		3/15/18		(5,066,626	)		(5,312,789	)		(246,163	)
	5,000,000	Swiss Franc		JPM		7/10/18		(5,344,050	)		(5,356,479	)		(12,429	)
	TOTAL							$(182,532,353	)		$(189,631,838	)		$(7,099,485	)
	Unrealized Depreciation on Forward Contracts (Net)													$(7,094,168	)

^(a) Primary risk exposure being hedged against is currency risk.

Counterparty Abbreviations:

BNY	—	The Bank of New York Mellon
JPM	—	JPMorgan Chase Bank NA
NTC	—	Northern Trust Company
SSB	—	State Street Bank and Trust Company

SEE NOTES TO PORTFOLIO OF INVESTMENTS

10

Tweedy, Browne Worldwide High Dividend Yield Value Fund

Portfolio of Investments

June 30, 2017 (Unaudited)

Shares			Value (Note 1)
		COMMON STOCKS—89.3%
		France—14.9%
	73,530	Cie Generale des Etablissements Michelin		$9,761,844
	169,500	CNP Assurances		3,799,768
	75,070	Safran SA		6,870,236
	269,534	SCOR SE		10,670,444
	250,000	Total SA		12,342,176
				43,444,468
		Germany—9.9%
	245,600	Axel Springer SE		14,734,263
	11,335	Muenchener Rueckversicherungs AG		2,282,462
	85,500	Siemens AG		11,736,174
				28,752,899
		Netherlands—4.5%
	493,000	Royal Dutch Shell plc, Class A		13,064,835
		Singapore—7.8%
	739,900	DBS Group Holdings Ltd.		11,145,387
	680,200	United Overseas Bank Ltd.		11,421,886
				22,567,273
		Switzerland—19.6%
	217,900	Nestle SA, Registered		18,987,892
	153,000	Novartis AG, Registered		12,749,334
	47,000	Roche Holding AG		11,984,963
	46,000	Zurich Insurance Group AG		13,406,359
				57,128,548
		Thailand—0.7%
	386,200	Bangkok Bank Public Company Ltd., NVDR		2,103,238

Shares			Value (Note 1)
		United Kingdom—17.7%
	310,855	BAE Systems plc		$2,557,987
	272,740	Berendsen plc		4,357,605
	475,800	Diageo plc		14,020,294
	1,881,411	G4S plc		7,976,782
	539,378	GlaxoSmithKline plc		11,458,761
	1,212,400	HSBC Holdings plc		11,208,224
				51,579,653
		United States—14.2%
	221,750	Cisco Systems, Inc.		6,940,775
	79,640	ConocoPhillips		3,500,974
	59,800	Johnson & Johnson		7,910,942
	224,370	Verizon Communications, Inc.		10,020,364
	178,605	Wells Fargo & Company		9,896,503
	64,175	Williams-Sonoma Inc.		3,112,488
				41,382,046
		TOTAL COMMON STOCKS (Cost $191,761,081)		260,022,960
		REGISTERED INVESTMENT COMPANY—10.4%
	30,219,199	Dreyfus Government Securities Cash Management – Institutional Shares (Cost $30,219,199)		30,219,199

TOTAL INVESTMENTS (Cost $221,980,280)	99.7	%	290,242,159
OTHER ASSETS AND LIABILITIES (Net)	0.3		752,714
NET ASSETS	100.0	%	$290,994,873

Abbreviations:
NVDR	—	Non Voting Depository Receipt

SEE NOTES TO PORTFOLIO OF INVESTMENTS

11

Tweedy, Browne Worldwide High Dividend Yield Value Fund

Sector Diversification

June 30, 2017 (Unaudited)

Sector Diversification	Percentage of Net Assets
COMMON STOCKS:
Banks		15.7	%
Pharmaceuticals, Biotechnology & Life Sciences		15.1
Insurance		10.4
Energy		9.9
Capital Goods		7.3
Food		6.5
Media		5.1
Beverage		4.8
Commercial Services & Supplies		4.2
Telecommunication Services		3.4
Automobiles & Components		3.4
Technology Hardware & Equipment		2.4
Retailing		1.1
Total Common Stocks		89.3
Registered Investment Company		10.4
Other Assets and Liabilities (Net)		0.3
Net Assets		100.0	%

Portfolio Composition

June 30, 2017 (Unaudited)

SEE NOTES TO PORTFOLIO OF INVESTMENTS

12

TWEEDY, BROWNE FUND INC.

Notes to Portfolio of Investments (Unaudited)

1. Valuation and Investment Practices

Portfolio Valuation. Tweedy, Browne Fund Inc. (the “Company”) consists of four series: Tweedy, Browne Global Value Fund; Tweedy, Browne Global Value Fund II – Currency Unhedged; Tweedy, Browne Value Fund and Tweedy, Browne Worldwide High Dividend Yield Value Fund (collectively the “Funds”). Portfolio securities and other assets listed on a U.S. national securities exchange, comparable foreign securities exchange or through any system providing for contemporaneous publication of actual prices (and not subject to restrictions against sale by the Fund on such exchange or system) are valued at the last quoted sale price at or prior to the close of regular trading on the New York Stock Exchange or, if applicable, the NASDAQ Official Closing Price (“NOCP”). Portfolio securities and other assets that are readily marketable but for which there are no reported sales on the valuation date, whether because they are not traded in a system providing for same day publication of sales or because there were no sales reported on such date, are generally valued at the mean between the last asked price and the last bid price prior to the close of regular trading. Forward exchange contracts are valued at the forward rate. Securities and other assets for which current market quotations are not readily available, and those securities which are generally not readily marketable due to significant legal or contractual restrictions, are valued at fair value as determined in good faith by Tweedy, Browne Company LLC (the “Investment Adviser”) under the direction of the Company’s Board of Directors. Securities and other assets for which the most recent market quotations may not be reliable (including because the last sale price does not reflect current market value at the time of valuing the Fund’s assets due to developments since such last price) may be valued at fair value if the Investment Adviser concludes that fair valuation will likely result in a more accurate net asset valuation. The Funds’ use of fair value pricing may cause the net asset value

of a Fund’s shares to differ from the net asset value that would be calculated using market quotations. Fair value pricing involves subjective judgments, and it is possible that the fair value determined for a security may be materially different than the value that could be realized upon the sale of that security. Debt securities purchased with a remaining maturity of more than 60 days are valued through pricing obtained by pricing services approved by the Company’s Board of Directors. Debt securities purchased with a remaining maturity of 60 days or less are valued at amortized cost, which approximates fair value, or by reference to other factors (i.e., pricing services or dealer quotations) by the Investment Adviser.

Fair Value Measurements. The inputs and valuation techniques used to determine fair value of the Funds’ investments are summarized into three levels as described in the hierarchy below:

• Level 1 – quoted prices in active markets for identical securities

• Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, credit risk, etc.)

• Level 3 – significant unobservable inputs (including a Fund’s own assumptions in determining the fair value of investments)

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. Transfers in and out of the levels are recognized utilizing values at the end of the period. The following is a summary of the inputs used to value each Fund’s assets carried at fair value as of June 30, 2017. See each Fund’s respective Portfolio of Investments for details on portfolio holdings.

	Global Value Fund
	Total Value at June 30, 2017			Level 1 Quoted Price		Level 2 Other Significant Observable Inputs			Level 3 Significant Unobservable Inputs
Investments in Securities:
Common Stocks
Switzerland	$	1,341,167,421		$	1,340,667,238	$	500,183		$	—
All Other Countries		7,134,775,497			7,134,775,497		—			—
Preferred Stocks
Chile		35,420,663			—		35,420,663			—
All Other Countries		16,501,726			16,501,726		—			—
Registered Investment Company		801,050,539			801,050,539		—			—
U.S. Treasury Bills		724,241,192			—		724,241,192			—
Total Investments in Securities		10,053,157,038			9,292,995,000		760,162,038			—
Other Financial Instruments:
Asset
Unrealized appreciation of forward exchange contracts		11,598,189			—		11,598,189			—
Liability
Unrealized depreciation of forward exchange contracts		(168,884,064	)		—		(168,884,064	)		—
Total	$	9,895,871,163		$	9,292,995,000	$	602,876,163		$	—

13

TWEEDY, BROWNE FUND INC.

Notes to Portfolio of Investments (Unaudited)

	Global Value Fund II – Currency Unhedged
	Total Value at June 30, 2017			Level 1 Quoted Price		Level 2 Other Significant Observable Inputs			Level 3 Significant Unobservable Inputs
Investments in Securities:
Common Stocks	$	309,533,158		$	309,533,158	$	—		$	—
Preferred Stocks
Chile		3,329,542			—		3,329,542			—
All Other Countries		325,009			325,009		—			—
Registered Investment Company		52,002,573			52,002,573		—			—
Total	$	365,190,282		$	361,860,740	$	3,329,542		$	—
	Value Fund
	Total Value at June 30, 2017			Level 1 Quoted Price		Level 2 Other Significant Observable Inputs			Level 3 Significant Unobservable Inputs
Investments in Securities:
Common Stocks	$	506,874,739		$	506,874,739	$	—		$	—
Registered Investment Company		45,862,416			45,862,416		—			—
U.S. Treasury Bill		13,934,676			—		13,934,676			—
Total Investments in Securities		566,671,831			552,737,155		13,934,676			—
Other Financial Instruments:
Asset
Unrealized appreciation of forward exchange contracts		134,313			—		134,313			—
Liability
Unrealized depreciation of forward exchange contracts		(7,228,481	)		—		(7,228,481	)		—
Total	$	559,577,663		$	552,737,155	$	6,840,508		$	—
	Worldwide High Dividend Yield Value Fund
	Total Value at June 30, 2017			Level 1 Quoted Price		Level 2 Other Significant Observable Inputs			Level 3 Significant Unobservable Inputs
Investments in Securities	$	290,242,159		$	290,242,159	$	—		$	—

As of June 30, 2017, a security with an end of period value of $500,183 held by Global Value Fund was transferred from Level 1 into Level 2 due to no trading volume on that day.

Foreign Currency. The books and records of the Funds are maintained in U.S. dollars. Foreign currencies, investments and other assets and liabilities are translated into U.S. dollars at the exchange rates prevailing at the end of the period, and purchases and sales of investment securities, income and expenses are translated on the respective dates of such transactions. Unrealized gains and losses from investments in securities that result from changes in foreign currency exchange rates, have been included in net unrealized appreciation/depreciation of securities. All other unrealized gains and losses that result from changes in foreign currency exchange rates have been included in net unrealized appreciation/depreciation of foreign currencies and net other assets. Net realized foreign currency gains and losses resulting from changes in exchange rates include foreign currency gains and losses between trade date and settlement date on investments, securities transactions, foreign currency

transactions and the difference between the amounts of interest and dividends recorded on the books of a Fund and the amount actually received. The portion of foreign currency gains and losses related to fluctuation in the exchange rates between the initial purchase trade date and subsequent sale trade date is included in realized gains and losses on investment securities sold.

Forward Exchange Contracts. Global Value Fund and Value Fund are subject to foreign currency exchange risk in the normal course of pursuing their investment objectives and may enter into forward exchange contracts for hedging purposes in order to reduce their exposure to fluctuations in foreign currency exchange on their portfolio holdings. Forward exchange contracts are valued at the forward rate and are marked-to-market daily. The change in market value is recorded by each Fund as an unrealized gain or loss. When the contract is closed, each Fund records a realized gain or loss equal to the difference between the value of the contract at the time that it was opened and the value of the contract at the time that it was closed.

14

TWEEDY, BROWNE FUND INC.

Notes to Portfolio of Investments (Unaudited)

The use of forward exchange contracts does not eliminate fluctuations in the underlying prices of the Global Value Fund’s and Value Fund’s investment securities, but it does establish a rate of exchange that can be achieved in the future. Although forward exchange contracts limit the risk of loss due to a decline in the value of the hedged currency, they

also limit any potential gain that might result should the value of the hedged currency increase. In addition, the Global Value and Value Funds could be exposed to risks if the counterparties to the contracts are unable to meet the terms of their contracts.

Securities Transactions. Securities transactions are recorded as of the trade date. Realized gains and losses from securities transactions are recorded on the identified cost basis.

The Investment Company Act of 1940, as amended, defines “affiliated companies” to include securities in which a fund owns 5% or more of the outstanding voting shares of an issuer. The following chart lists the issuers owned by Global Value Fund that may be deemed “affiliated companies”, as well as transactions that occurred in the securities of such issuers during the three months ended June 30, 2017:

Shares Held at 3/31/17		Name of Issuer	Value at 3/31/17		Purchase Cost		Sales Proceeds		Value at 6/30/17		Shares Held at 6/30/17		Net Unrealized Appreciation 3/31/17 to  6/30/17
	218,165	Coltene Holding AG		$17,360,350		$    —		$    —		$22,519,303		218,165		$5,158,953
	68,640	Phoenix Mecano AG		35,316,050		—		—		41,141,711		68,640		5,825,661
	248,117	Siegfried Holding AG		65,378,749		—		—		70,148,465		248,117		4,769,716
	4,795,392	SOL SpA		49,237,690		—		—		58,139,554		4,795,392		8,901,864
				$167,292,839		$    —		$    —		$191,949,033				$24,656,194

None of the other Funds owned 5% or more of the outstanding voting shares of any issuer.

2. Tax Information

As of June 30, 2017, the aggregate cost of securities in each Fund’s portfolio for federal tax purposes was as follows:

Global Value Fund	$7,132,581,566
Global Value Fund II – Currency Unhedged	$296,089,520
Value Fund	$323,987,705
Worldwide High Dividend Yield Value Fund	$221,980,280

The aggregate gross unrealized appreciation/depreciation and net unrealized appreciation as computed on a federal income tax basis at June 30, 2017 for each Fund is as follows:

	Gross Appreciation		Gross Depreciation			Net Appreciation
Global Value Fund		$3,239,673,375		$(319,097,903	)		$2,920,575,472
Global Value Fund II – Currency Unhedged		78,652,331		(9,551,569	)		69,100,762
Value Fund		252,234,310		(9,550,184	)		242,684,126
Worldwide High Dividend Yield Value Fund		72,431,441		(4,169,562	)		68,261,879

15

Item 2. Controls and Procedures.

(a) The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(b)).

(b) There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d))) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3. Exhibits.

Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) Tweedy, Browne Fund Inc.

By (Signature and Title)*	/s/ Thomas H. Shrager
	Thomas H. Shrager, President
	(principal executive officer)

Date August 8, 2017

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title)*	/s/ Thomas H. Shrager
	Thomas H. Shrager, President
	(principal executive officer)

Date August 8, 2017

By (Signature and Title)*	/s/ Roger R. de Bree
	Roger R. de Bree, Treasurer
	(principal financial officer)

Date August 8, 2017

^*  Print the name and title of each signing officer under his or her signature.