PFD - Longleaf Partners International Fund 2024 Annual Commentary
2025-01-21 12:53:00 ET
Summary
- Longleaf Partners International Fund returned –11.20% in the fourth quarter and -1.99% for the year, trailing the relevant indexes.
- The flow of capital towards the US drains incremental liquidity from other markets, which in real terms means a lack of marginal buyers for international equities.
- During the quarter we purchased two new positions in the portfolio. The first is a French global digital services platform and the other is a Japanese contact lens manufacturer.
Fund Characteristics
P/V Ratio |
High-60s% |
Cash |
3.7% |
# of Holdings |
29 |
All data as of December 31, 2024
Annualized Total Return |
4Q (%) |
1 Year (%) |
3 Year (%) |
5 Year (%) |
10 Year (%) |
Since Inception (%) |
International Fund |
-11.20 |
-1.99 |
-2.19 |
-1.74 |
2.75 |
5.80 |
FTSE Developed ex North America |
-8.50 |
2.45 |
0.90 |
4.44 |
5.14 |
5.51 |
FTSE Developed ex North America Value |
-7.57 |
4.36 |
2.92 |
4.31 |
-- |
-- |
*Inception date 10/26/1998. The FTSE Developed ex North America Value Index began in September 2018. As such there is currently only a 5-year history for this index. ...
Longleaf Partners International Fund 2024 Annual Commentary