SWK - Longleaf Partners Fund Q4 2023 Commentary
2024-01-31 06:05:00 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.
- 2023 was a busy and productive year for our research team. We initiated eight new positions and added to two discounted existing holdings.
- We think it likely that 2024 will give us some volatility to put our cash to work and continue to improve our portfolio.
- Volatility won’t just help us improve our portfolios, it will help our existing investees grow their own value per share in ways that are unexpected and don't fit into a spreadsheet, again highlighting the importance of high-quality people who are on offense.
Fund Characteristics
| P/V Ratio |
| High-60s% |
| Cash |
| 12.9% |
| # of Holdings |
| 20 |
All data as of December 31, 2023
| Annualized Total Return |
| Annualized Total Return |
| 4Q |
| 1 Year |
| 3 Year |
| 5 Year |
| 10 Year |
| Since Inception |
| (%) |
| (%) |
| (%) |
| (%) |
| (%) |
| (%) |
| Partners Fund |
| 7.99 |
| 24.49 |
| 5.70 |
| 8.42 |
| 3.86 |
| 9.38 |
| S&P 500 |
| 11.69 |
| 26.29 |
| 10.00 |
| 15.69 |
| 12.03 |
| 10.26 |
| Russell 1000 Value |
| 9.50 |
| 11.46 |
| 8.86 |
| 10.91 |
| 8.40 |
| 9.62 |