Redeeming Shares

Redeeming Shares

You may withdraw any portion of your account in a share or dollar amount at any time. We will send your redemption proceeds within one week of receipt of your redemption request in good order. To allow the Fund to plan for large redemptions in an orderly manner, we request that you notify us of anticipated redemptions of $1,000,000 or more at least 5 business days before sending the formal redemption request. We must have received a completed and signed account application or W-9 form before releasing your redemption proceeds.

Redemption and Exchanges By Telephone

Investors who have established telephone redemption and exchange privileges may redeem or make exchanges of up to $100,000 per Fund over the telephone. Telephone redemptions may not be made from IRA accounts. Accounts with address change requests within the last 30 days must submit written redemption instructions with a Medallion Signature Guarantee. The following procedures are applicable:

  • You may establish telephone redemption and exchange privileges when completing the account application or you may request the service by sending a written request to our Transfer Agent.
  • Call (800) 445-9469, option 0, if you have established telephone redemption and exchange privileges on your account.
  • Exchanges into new accounts must meet the $10,000 minimum and any closed fund exceptions.
  • Proceeds of redemptions will be sent only to the address of record or in accordance with previously established bank instructions.
  • Telephonic orders completed before the close of the New York Stock Exchange receive that day's price.
  • Telephonic orders completed after the close of the New York Stock Exchange receive the next business day's price.
  • The Funds may not hold a redemption request to be processed at a later date.

Please retain the confirmation number assigned to your telephone redemption or exchange as proof of your trade. You cannot change or cancel a telephone redemption or exchange request after the transaction has been processed. The transfer agent employs reasonable procedures to confirm that instructions received by telephone are genuine. When these procedures are followed, the Funds and the transfer agent are not liable for losses caused by such instructions. The Fund reserves the right to revise or terminate telephone redemption and exchange privileges at any time.

Redemptions By Letter

The following information must be included in a redemption request:

  • Your account number;
  • Fund identification:
    A07 PF 133 – Partners
    A07 SC 134 – Small-Cap
    A07 IN 136 – International
    A07 GL 137 – Global
  • The amount of the redemption, specified in either dollars or shares;
  • The signatures of all owners, exactly as they are registered on the account;
  • Medallion Signature Guarantees are required under certain circumstances. In addition, your Medallion Signature Guarantees must have the appropriate "prefix" covering the amount of your redemption request. Please see the Shareholder Manual in our Prospectus regarding Medallion Signature Guarantees. If your Medallion Signature Guarantee is not in good order, your transaction will be rejected;
  • Fund Certificates, if any have been issued for the shares being redeemed;
  • Other supporting legal documents that may be required in cases of estates, corporations, trusts and certain other accounts.

Please call our transfer agent at (800) 445-9469, option 0, if you have questions about these requirements.

Redemption requests and required documentation should be sent as follows:

By regular mail
Longleaf Partners Funds
P.O. Box 9694
Providence, RI 02940-9694

By express mail or overnight courier
Longleaf Partners Funds
c/o BNY Mellon
4400 Computer Drive
Westborough, MA 01581
(800) 445-9469

Items delivered to the P.O. Box are not deemed "received" until they arrive at BNY Mellon for processing. Time critical items requiring proof of receipt should be sent to the Westborough, MA address. Distributions and transfers from IRA accounts are subject to additional requirements. Please obtain our "Retirement Account Distribution Form," "IRA Transfer and Conversion," or consult your tax advisor when redeeming from your retirement account.

Automatic Withdrawals

You may establish automatic withdrawals from your account by sending written instructions to the transfer agent. You may request withdrawals monthly, quarterly, semi-annually or annually. Withdrawals will be processed on or about the 21st day of the month they are scheduled to occur. You can stop or change the amount of your automatic withdrawal by calling us at (800) 445-9469, option 0. If stopped, you can restart your automatic withdrawal by calling us at (800) 445-9469, option 0, within 6 months of the time your systematic withdrawal was stopped. You must send written instructions to make other changes or to restart these withdrawals if it has been stopped for more than 6 months.