With this new international fund, we’re applying the same value-conscious approach, grounded in insider buying signals, to non-U.S. stocks, offering investors another way to put this strategy to work.
Jason Minard (Managing Director)
Stamford, CT — Tweedy, Browne Company LLC, a 105-year-old value-oriented asset management firm with $7.2 billion under management (as of June 30, 2025), today announced the upcoming launch of the International Insider + Value ETF (Ticker: ICPY) (the “Fund”), a natural extension of its innovative ETF offering introduced last year. The Fund is scheduled to begin trading on the New York Stock Exchange on September 10, 2025, and will be supported by The RBB Fund Complex, a provider overseeing approximately $35 billion in assets across mutual fund and ETF structures
Structured as an actively managed and fully transparent ETF, the Fund will utilize the same proprietary multi-factor model used in the firm’s original Insider + Value ETF (NYSE: COPY), but will focus exclusively on companies domiciled outside of the United States. The strategy seeks to identify international companies across a broad range of market capitalizations that the firm believes are undervalued and where corporate “insiders” have been actively purchasing shares and/or where the company is engaged in opportunistic share repurchase activity.
The investment process is largely quantitative and decision-rule-based, and draws on decades of empirical research by Tweedy, Browne and others into the predictive value of insider buying signals when combined with traditional valuation metrics.
“We’ve long believed that the behaviors of informed insiders, whether expressed through open-market purchases or thoughtful buyback programs, can offer powerful signals of future value,” said John Spears, Managing Director and member of the firm’s Investment Committee. “Importantly, this pattern has held outside the U.S. as well. This new ETF allows us to focus exclusively on international companies where we believe the ‘insider’s edge’ can also be potent.”
Jason Minard, Managing Director and head of client services, added, “Launching our first ETF last December (COPY) offered investors tax-efficient access to this active strategy, and we’ve been encouraged by its early success. With this new international fund, we’re applying the same value-conscious approach, grounded in insider buying signals, to non-U.S. stocks, offering investors another way to put this strategy to work.”
ABOUT TWEEDY, BROWNE
Tweedy, Browne Company LLC is a leading practitioner of the value-oriented investment approach of legendary investor and author (The Intelligent Investor, Security Analysis), and Columbia Business School professor Benjamin Graham. Serving originally as a broker to Graham and other respected value investors, the firm’s 105-year history is grounded in undervalued securities, first as a market maker, then as an investor and investment adviser. As of June 30, 2025, assets under management totaled approximately $7.2 billion, comprising separate accounts, private funds, offshore funds, and SEC-registered mutual funds. The current Managing Directors, a retired principal, current employees, and their immediate family members had more than $1.7 billion invested in personal and Tweedy, Browne managed value-oriented portfolios as of June 30, 2025. For more information visit www.tweedy.com.
ABOUT RBB FUND COMPLEX
The RBB Fund, Inc. and The RBB Fund Complex, together, are a turnkey ETF and mutual fund solution that permits an investment adviser to focus on its core competency of asset management and shifts most responsibility for the establishment, servicing, and corporate governance of funds to RBB. RBB oversees approximately $35 billion in assets, supporting 18 separate investment advisers, over 22 unaffiliated sub-advisers, and over 70 mutual fund or ETF offerings. For more information, please visit www.rbbfund.com.
ADDITIONAL PARTNERS
NYSE
GTS-Lead Market Maker
Exchange Traded Concepts-Subadvisor
US Bank-Custodian
ACA Foreside – Distributor
MEDIA CONTACT
Mount & Nadler | 212-759-4440
Hedda Nadler | hedda@mountandnadler.com
Andrew Green | andrew@mountandnadler.com
DISCLOSURES
An investor should consider the investment objectives, risks, and charges and expenses of the fund carefully before investing. A prospectus, which contains this and other information about the fund may be obtained by calling 1-800-617-0004/visiting www.tweedyetfs.com. The prospectus should be read carefully before investing.
All investing involves the risk of loss, including the loss of principal.
Portfolio holdings are subject to risk.
The Fund’s buyback strategy is based, in part, on the premise that stocks of companies that engage in share buyback purchases are often anticipated to perform well because they typically are a signal that a company’s management believes its shares are undervalued. This positive signal from management may cause the value of such shares to rise. There is no certainty that management of a company undertook a buyback strategy because it believes its stock is undervalued; a company could be using buybacks to increase their price to earnings or other ratios, to alleviate excessive dilution, as a defensive measure, or to cut their own capital expenditures, thereby potentially limiting future growth.
To implement its investment strategy, the Adviser may require access to large amounts of financial data and other data supplied by various data providers. The inability to access large amounts of financial and other data from data providers could adversely affect the Adviser’s ability to use quantitative methods to select investments.
International investing may be subject to special risks, including, but not limited to, currency exchange rate volatility, political, social or economic instability, less publicly available information, less stringent investor protections, and differences in taxation, auditing and other financial practices. Investment in emerging market securities involves greater risk than that associated with investment in securities of issuers in developed foreign countries. These risks include volatile currency exchange rates, periods of high inflation, increased risk of default, greater social, economic and political uncertainty and instability, less governmental supervision and regulation of securities markets, weaker auditing and financial reporting standards, lack of liquidity in the markets, and the significantly smaller market capitalizations of emerging market issuers.
The Fund may invest in derivative instruments, including forward currency exchange contracts, which may be leveraged and may result in losses. Investments in derivative instruments may result in losses exceeding the amounts invested. The Fund’s practice of hedging exposure to foreign currencies where practicable tends to make the Fund underperform a similar unhedged portfolio when the dollar is losing value against the local currencies in which the Fund’s investments are denominated.
Value investing involves buying stocks that are out of favor and/or viewed as undervalued by the Adviser in comparison to their peers or their prospects for growth. Securities of companies with micro-, small- and mid-size capitalizations tend to be riskier than securities of companies with large capitalizations. This is because micro-, small- and mid-cap companies typically have smaller product lines and less access to liquidity than large cap companies, and are therefore more sensitive to economic downturns.
Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund.
The Tweedy, Browne International Insider + Value ETF will be distributed by Quasar Distributors, LLC.
