2024-04-24 08:00:00 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 Small-Cap Fund returned 6.85% in the first quarter, ahead of our benchmark index and absolute annual return goal of inflation plus 10%.
- While small-cap indices underperformed relative to large cap (which were once again driven by a few mega-cap growth companies), we are pleased with the results of our carefully constructed portfolio that looks very little like any index.
- While our cash ended the quarter at a higher-than-usual level of 17%, our on-deck list remains healthy and our price-to-value ratio is still in the mid-60s.
Fund Characteristics
P/V Ratio | Mid-60s% |
Cash | 16.5% |
# of Holdings | 17 |
All data as of March 31, 2024
Annualized Total Return | ||||||
Since | ||||||
1Q | 1 Year | 3 Year | 5 Year | 10 Year | Inception | |
(%) | (%) | (%) | (%) | (%) | (%) | |
Small-Cap Fund | 6.85 | 23.16 | 1.03 | 5.37 | 5.88 | 9.88 |
Russell 2000 | 5.18 | 19.71 | -0.10 | 8.10 | 7.57 | 9.24 |
Russell 2000 Value | 2.90 | 18.75 | 2.21 | 8.16 | 6.87 | 9.99 |
Read the full article on Seeking Alpha
For further details see:
Longleaf Partners Small-Cap Fund Q1 2024 Commentary