FRFHF - Longleaf Partners Fund Q1 2024 Commentary
2024-04-24 07:30:00 ET
Summary
- Longleaf Partners Funds is a suite of mutual funds and UCITS funds that Southeastern Asset Management, the investment advisor to the Longleaf Partners Funds, created in 1987 as a way for Southeastern employees to invest alongside their clients.
- Longleaf Partners Fund returned 6.60% in the first quarter, ahead of our absolute annual return goal of inflation plus 10%.
- The portfolio’s relative overweight to Communication Services, higher than normal cash and lack of exposure to Information Technology weighed on relative results.
- We initiated one new position in the quarter and added to four positions. We exited two holdings while trimming several strong performers.
Fund Characteristics
| P/V Ratio |
| High-60s% |
| Cash |
| 15.7% |
| # of Holdings |
| 19 |
All data as of March 31, 2024
| Annualized Total Return |
| Since |
| 1Q |
| 1 Year |
| 3 Year |
| 5 Year |
| 10 Year |
| Inception |
| (%) |
| (%) |
| (%) |
| (%) |
| (%) |
| (%) |
| Partners Fund |
| 6.60 |
| 18.84 |
| 2.11 |
| 7.37 |
| 4.49 |
| 9.51 |
| S&P 500 |
| 10.56 |
| 29.88 |
| 11.49 |
| 15.05 |
| 12.96 |
| 10.49 |
| Russell 1000 Value |
| 8.99 |
| 20.27 |
| 8.11 |
| 10.32 |
| 9.01 |
| 9.80 |