Browne Company LLC / Bank (Korea) AT&T Inc / Pearson PLC / Reinsurance S Bottom Contributors Henry Schein Inc / P Kone Oyj / Emerson Electric / MSCI World American National Insurance Co Total Equities / Devon Energy / Genuine Parts Co General Electric Co Heineken NV / Global Value Fund / Henkel KGaA / Munich Re / SK Telecom / Value Nestle SA / Home Depot T Wells Fargo & Company / National Western Life Ins Co / Leucadia National Corp / Canon Inc / Value Fund / Browne Global Value Fund / Axel Springer AG / Walmart / New York Stock Exchange / Diageo PLC / Countries Spain Greece Czech Republic Top Contributors Industries / S&P / Sanofi / Rayonier Inc / Banks Industrial Conglomerates Tobacco Heineken P US Bancorp / Coca Cola Femsa / Telegraaf Media Groep NV / P Matsumoto Yushi S ConocoPhillips P Mediaset SpA T / Reynolds American Inc / Contributors American Express Company T Lloyds TSB Group PLC / United States Britain Mexico Diageo PLC / Wal-Mart Stores Inc / Signet Jewelers Ltd. T / Akzo Nobel / Nestle SA / Tweedy / Swiss Reinsurance S Bottom Contributors Federated Investors Inc / Kimberly Clark De Mexico SA / Browne Worldwide High Dividend Yield Value Fund / Total SA / Roche Holdings / Unifirst Corp / The New York Times / P Honda Motor Co. / Eni SpA / Aventis / Unilever NV / Burlington Northern Santa Fe / Gestevision Telecinco SA / Purchases & Sales Bottom Contributors 3M Co. / Staples / Heineken Holding NV / Morningstar Inc. / Altria / Grupo Continental / Honda / Roche Holding P Switzerland Netherlands France Henkel KGaA / Emerson Electric Company / A S CNP Assurance P Lloyds TSB Group PLC / Krones / Burlington Nrthrn Santa Fe A Lloyds TSB Group PLC / Novartis AG / Cola Femsa / P Sanofi-Aventis ADR S Henkel KGaA / MSCI World Gestevision Telecinco Sa / American Express Company / Embotelladoras Arca SA / AT&T Inc / WW High Dividend Yield Value Fund / ConocoPhillips P Masco Corp / Trinity Mirror / BROWNE FUND INC. / Browne Value Fund / Comcast Corp / Worldwide High Dividend Yield Value Fund / PNC Financial / Home Depot Inc / Torchmark Corp / Linde AG / 3M Corporation / Kone Oyj / P General Electric (U.S.) US Bancorp / 3M Co Glaxo Smithkline PLC / Philip Morris International CNP Assurance US Bancorp / /
Continent
Europe / /
Country
Switzerland / Netherlands / Norway / France / Japan / Canada / Australia / Portugal / Korea / United Kingdom / Finland / Denmark / Germany / Italy / Sweden / New Zealand / Belgium / Austria / United States / Singapore / Spain / Greece / Ireland / /
Microsoft Word - Fund Commentary Q4 2008 FINAL