T Hays PLC / Hays PLC / Arca Continental T Linde Carclo PLC / Browne Company LLC / 1st Qtr Global Value Fund / British American Tobacco / ABB Ltd / Bangkok Bank / Cola Femsa T Novartis A Daikoku Denki Co / P Total A Henkel KGaA T / Daehan City Gas / CNP / Total / Devon Energy / Philip Morris International / Henkel KGaA / Wells Fargo & Company / Equities Cash Reserves* Top 20 Holdings / Munich Re / Baxter International / Solutions T Royal Dutch Shell PLC / Royal Dutch / S Nihon Kohden S G4S PLC / Nestle G4S PLC / Leucadia National Corp / J & J / Utilities Total Equities Cash Reserves* Total Fund / Avatar Holdings Inc / Berkshire Hathaway / Canon Inc / Scor / Fund Market Value Top 20 Holdings Canada / GlaxoSmithKline / Value Fund / Imperial Tobacco Group / Heineken Holdings / Browne Global Value Fund / Diageo PLC / Arthur J Gallagher T McDonalds Corp / Browne Funds / Zurich Financial / T T Diageo PLC T / Wal-Mart Stores Inc / Emerson Electric A Royal Dutch Shell PLC / Akzo Nobel / Browne Worldwide High Dividend Yield Value Fund / Imperial Tobacco / P Tesco Plc / Roche Holding / United Overseas Bank / Union Pacific / Johnson & Johnson / P Genuine Parts Co T / Philip Morris / Linde / ENI SpA / Unilever A Imperial Tobacco Group A Vodafone Group PLC / ConocoPhillips HSBC Holdings British American Tobacco ENI SpA / Exelon Inc / Novartis A Daikoku Denki Co S Ottogi Corporation / Wells Fargo / Morningstar Inc. / Mediaset / Total Equities / G4S PLC / Arthur J. Gallagher With / Global Value Fund II / Arca Continental / J & J. In / Vodafone Group PLC / Kimberly Clark Corp / Kone Oyj T / Novartis A Hays PLC / Norfolk Southern / WW High Dividend Yield Value Fund / Royal Dutch Shell PLC / Zurich Financial Services / BROWNE FUND INC. / Browne Value Fund / Worldwide High Dividend Yield Value Fund / Carclo PLC / McDonalds / Tesco Plc / HSBC Holdings / /
Continent
Europe / /
Country
Switzerland / Netherlands / Norway / France / Japan / United Kingdom / Germany / United States / Singapore / Spain / South Korea / /
Currency
USD / /
Event
M&A / Business Partnership / /
Holiday
New Year's Day / /
IndustryTerm
insurance holdings / media holdings / pharmaceuticals / bank / wireless telecomm / chemicals / beverage / grocery chain / bank stocks / electric utilities / oil / tobacco giant / gas / oil stocks / /
MarketIndex
S&P 500 / EAFE / MSCI EAFE / MSCI EAFE World / MSCI World / /
Organization
PLC ADR / Total Fund / /
Person
Axel Springer / Thomas H. Shrager John / William H. Browne Thomas / Robert Q. Wyckoff / Jr. / John D. Spears Robert / / /
Position
generally considered representative of U.S. large capitalization / General / Investment Adviser / representative / Investment Advisor / Adviser / /
ProvinceOrState
New York / /
PublishedMedium
Daily Mail / the Investment Advisor / /
Region
Australasia / South Korea / Far East / /
Technology
Information Technology / Value Consumer Discretionary Consumer Staples Energy Financials Health Care Industrials Information Technology / Staples Energy Financials Health Care Industrials Information Technology / Assurances Consumer Discretionary Consumer Staples Energy Financials Health Care Industrials Information Technology / /
Microsoft Word - FundCommentaryQ1,Finalw.percents