2024-08-01 09:35:00 ET
Summary
- Longleaf Partners International Fund declined -4.24% in the second quarter, the FTSE Developed ex-North America Index, fell -0.75%.
- While the market dislikes the near-term uncertainty of election cycles, we own companies we believe are, at worst, immune due to the non-discretionary nature of their products and services, strong brands and/or diversified end market exposures with highly resilient market dynamics.
- We exited two positions, Kering and Alibaba, and initiated one new position in the quarter.
Fund Characteristics
P/V Ratio | Mid-60s% |
Cash | 5.1% |
# of Holdings | 24 |
All data as of June 30, 2024
Annualized Total Return
2Q (%) | YTD (%) | 1 Year (%) | 3 Year (%) | 5 Year (%) | 10 Year (%) | Since Inception (%) | |
International Fund | -4.24 | -0.75 | 2.39 | -4.55 | -0.36 | 1.08 | 5.97 |
FTSE Developed ex- North America | -0.75 | 4.68 | 11.22 | 1.98 | 6.37 | 4.34 | 5.67 |
FTSE Developed ex- North America Value | -0.88 | 3.99 | 11.47 | 2.80 | 5.57 | -- | -- |
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For further details see:
Longleaf Partners International Fund Q2 2024 Commentary