Another reason to sell is if the team determines that their original buy thesis was incorrect, or if "facts have changed," Hill said.
"The best analysts will be wrong a third of the time. That is part and parcel for this industry. You have to be comfortable you will be wrong a percentage of the time," Hill added.
Here are the top 10 holdings (out of 99) of the Tweedy, Browne International Value Fund as of July 31:
Company Ticker Country % of the Tweedy, Browne International Value Fund Total return -- 5 years Nestlé S.A. CH:NESN Switzerland 5.1% 44% Safran S.A. FR:SAF France 4.0% 38% TotalEnergies SE FR:TTE France 3.8% 49% Diageo PLC UK:DGE U.K. 3.8% 30% Berkshire Hathaway Inc. Class A BRK.A U.S. 3.7% 70% Alphabet Inc. Class A GOOGL U.S. 3.3% 111% BAE Systems PLC UK:BA U.K. 3.2% 88% Heineken Holding NV NL:HEIO Netherlands 2.9% -3% Roche Holding AG CH:ROG Switzerland 2.8% 22% United Overseas Bank Ltd. SG:U11 Singapore 2.7% 31% Source: FactSet
Click on the tickers for more about each company.
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