Tweedy, Browne Launches Insider + Value ETF (NYSE: COPY)
“Tweedy, Browne Company, a 104-year-old asset management firm with $7.2 billion in assets under management as of December 31, 2024, has officially launched the Tweedy, Browne Insider + Value ETF (NYSE: COPY).”
Tweedy, Browne Company, a value-driven asset management firm with over a century of experience, has officially entered the ETF market with the launch of its new product, the Tweedy, Browne Insider + Value ETF (NYSE: COPY). The firm, which manages $7.2 billion in assets as of December 31, 2024, has long been recognized for its commitment to value investing principles, and this latest move allows investors to access its strategies through a tax-efficient, actively managed ETF structure.
The Tweedy, Browne Insider + Value ETF is designed to leverage the company’s proprietary multi-factor value model, developed by its Investment Committee and informed by decades of empirical research. This model targets both U.S. and non-U.S. companies that Tweedy, Browne believes are undervalued relative to their intrinsic worth. Importantly, the fund focuses on companies where there is strong insider activity—specifically, when corporate insiders have been purchasing company stock or when companies are conducting opportunistic share buybacks.
The investment approach used for the ETF is highly quantitative and decision rule-based, identifying companies across a wide range of market capitalizations. By utilizing this systematic approach, the fund aims to pinpoint undervalued companies with potential for price appreciation, driven in part by insider confidence in the company’s future performance.
The ETF, which is listed on the New York Stock Exchange, is supported by The RBB Fund Complex, a platform provider that manages approximately $30 billion in assets. RBB oversees over 60 mutual fund or ETF offerings and provides the operational infrastructure for the fund, allowing Tweedy, Browne to focus on managing the ETF’s investments.
Jason Minard, Managing Director and Head of Client Services at Tweedy, Browne, expressed the firm’s excitement about expanding into the ETF space. He said, “Entering the ETF space is a natural extension of our business and affords taxpaying investors access to our actively managed strategies within a tax-efficient ETF structure. We are attempting to address the growing demand for value-oriented investment options in these innovative investment vehicles.” With this move, Tweedy, Browne is positioning itself to meet the evolving needs of investors seeking tax-efficient and transparent ways to access value investing strategies.
John Spears, Managing Director and member of the firm’s Investment Committee, echoed Minard’s sentiments, highlighting the unique opportunity the ETF presents for investors. “We are excited about the chance to offer investors the opportunity to access what we often refer to as the ‘insider’s edge,’ the unique insight that high-ranking corporate executives and informed directors can have regarding the prospect for improvement of their company’s condition and share price. We have studied this space for decades.”
The idea of investing based on insider behavior is grounded in the belief that corporate executives and board members often have unparalleled insights into their companies’ potential for growth, making their purchasing actions a key signal of future prospects. The ETF capitalizes on this insight by focusing on companies where insider buying is a significant indicator of confidence.
This move into ETFs marks a new chapter for Tweedy, Browne, which has a rich history of value investing. The firm is one of the foremost practitioners of the value-oriented investment philosophy pioneered by Benjamin Graham, the legendary investor and author of The Intelligent Investor and Security Analysis. Tweedy, Browne’s 104-year history is built upon identifying undervalued securities, initially serving as a market maker and later transitioning into an investment advisor. As of December 31, 2024, the firm managed approximately $7.2 billion in assets, including separate accounts, private funds, offshore funds, and SEC-registered mutual funds.
A significant portion of Tweedy, Browne’s assets is invested in value-oriented portfolios, with more than $1.6 billion of personal investments from the firm’s Managing Directors, retired principals, and their immediate families. This commitment to value investing underscores the firm’s confidence in the strategies it applies to its clients’ portfolios.
For investors, the Tweedy, Browne Insider + Value ETF offers a new way to access the firm’s time-tested value investment approach. With the rise in popularity of ETFs, this product provides investors with an actively managed, fully transparent, and tax-efficient option to gain exposure Launches to a diversified set of undervalued companies. It combines Tweedy, Browne’s expert insights into undervalued stocks with the transparency, liquidity, and cost-effectiveness that ETFs offer.
The RBB Fund Complex plays a crucial role in supporting the ETF’s infrastructure. RBB’s turnkey Launches ETF and mutual fund solutions help ensure the smooth operation of the fund, taking care of much of the corporate governance and servicing responsibilities. This enables Tweedy, Browne Launches to remain focused on its core competency—managing investments—while RBB handles the operational complexities.
With this new ETF, Tweedy, Browne Launches is tapping into the growing demand for value investing in the ETF space. Investors looking for a structured, research-driven, and tax-efficient approach to value investing now have an opportunity to benefit from the firm’s expertise in identifying undervalued opportunities, guided by insider activity and buybacks. The Tweedy, Browne Insider + Value ETF is poised to offer investors a distinctive and powerful way to invest in undervalued companies poised for growth.
As the ETF market continues Launches to evolve, Tweedy, Browne’s new offering is a strong example of how traditional investment strategies can be adapted to meet the needs of today’s Launches investors. Through the Insider + Value ETF, Tweedy, Browne is helping investors capture the benefits of both value investing and insider insight in a flexible, transparent ETF format.
