Hold UVV by Sep 16, 2026.

Universal Corporation ($UVV) is the world's leading leaf tobacco supplier. The asset value case is straightforward: * P/B: 0.90 * 41 consecutive years of dividend payments (I love when a dividend is old enough to drink) * 6.1% dividend yield * Operating cash flow of $327M against a market cap of $1.34B ​At first glance this appears like the kind of asset-valuation situation Graham would look for... But when I went through the 10-K, there's a disclosure that made my …