TRANSATLANTIC HOLDINGS / Browne Company LLC / AVENTIS / UNILEVER / ABN AMRO HOLDING / PROQUEST CO / FEDERATED INVESTORS / MBIA INC. / VOLKSWAGEN / Morningstar Inc. / WELLS FARGO & CO / NESTLE / Russell / DIAGEO / Country Netherlands TOTAL EQUITIES / PFIZER INC. / American Express / Browne Global Value Fund / ABN Amro / Equities-Foreign Total Equities / PNC FINANCIAL SERVICES / New York Stock Exchange / BROWNE FUND INC. / FREDDIE MAC / S&P / SANOFI / COMCAST CORP / HEINEKEN / Browne American Value Fund / TWENTY LARGEST HOLDINGS / POPULAR INC. / TORCHMARK CORP. / ALLOCATION OF INVESTMENTS / AKZO NOBEL / Switzerland KONE CORP / /
Continent
Europe / /
Country
Switzerland / Germany / Netherlands / France / Japan / United States / Canada / Finland / Denmark / Czech Republic / /
Currency
USD / /
Event
M&A / /
IndustryTerm
energy stocks / energy / /
MarketIndex
S&P 500 / Russell 3000 / Morningstar Domestic Stock Funds / EAFE / MSCI EAFE / Russell 1000 Value / /
MusicAlbum
S&P / /
Organization
Global Value Fund US / BANK OF CANADA / /
Person
Christopher H. Browne William / AXEL SPRINGER / Robert Q. Wyckoff / Jr. / William H. Browne John / John D. Spears Thomas / Thomas H. Shrager Robert / / /
Position
generally considered representative of U.S. small capitalization stocks / generally considered representative of U.S. large capitalization stocks / representative / /
Microsoft Word - Global-American Value Fund Commentary[removed]final.doc