Investment Strategy

• This Fund is an actively managed and fully transparent Exchange Traded Fund (ETF) that utilizes a proprietary multi-factor Tweedy Browne value model. The approach is informed by empirical research and the extensive experience of our Investment Committee. We target investments in US and non-US companies that we believe are undervalued and where knowledgeable “insiders,” i.e., executives, corporate officers, and/or directors or controlling shareholders, have been actively purchasing the company’s equity securities and/or the company is conducting opportunistic share buybacks.
• The investment objective is long-term capital growth.
• The investment process is largely quantitative and decision rule-based and is used to identify companies across a broad cross-section of market capitalizations and geographies.
• The investment universe from which the Adviser makes its selections consists of companies in the US, Europe, the United Kingdom, and Asia, among other countries and regions, and may include emerging markets.
• The Adviser utilizes a proprietary systematic sell discipline that allows for the continuous refreshment of the Fund as new ideas present themselves.
• The Adviser may seek to reduce currency risk by hedging its foreign currency exposure back into the US dollar (generally through the use of forward currency contracts), where practicable.
• The Tweedy, Browne Insider + Value ETF is listed on the New York Stock Exchange and supported by The RBB Fund Complex.

Commitment of the Adviser

As of September 30, 2024, the current Managing Directors, retired principals and their families, and employees of Tweedy, Browne had more than $1.6 billion invested in personal and Tweedy, Browne managed value-oriented portfolios. The initial funding for the Insider + Value ETF will come largely from Tweedy, Browne principals, who plan to contribute over $10 million. Like our mutual funds, this Fund will be available in our employee retirement plan.