Longleaf Partners Fund seeks long-term capital growth. The Fund seeks to achieve this objective by investing primarily in a limited number of mid- and large-cap U.S. companies we believe to be significantly undervalued. Current income is not an objective.
- The Fund primarily owns common stock or securities convertible into common stock but may purchase other types of securities.
- The Fund may invest up to 30% of its assets in non-U.S. securities, which could include emerging market issuers, and may achieve its exposure to non-U.S. securities through investing in American depositary receipts (ADRs).
- The Fund invests generally in companies with market capitalizations over $5 billion.
- Benchmark index is S&P 500, though portfolio construction is 100% bottom-up.
- The Fund is non-diversified under federal securities laws and generally invests in 15 to 25 companies.
- Southeastern employees, related parties, and Longleaf trustees are the largest shareholder group with a collective investment of over $500 million.
- The Fund's assets are held primarily by institutional clients.
- Our relationships are long-term. The average direct account tenure is between 5-10 years.
Fund Facts at 3/31/14
|Inception Date||April 8, 1987|
|Net Assets||$8.2 billion|
|5yr Avg. Turnover||26%|
|Wtd. Avg. Market Cap||$44.9 billion|
Southeastern since 1975
42 years investment experience
BA (Finance) University of Florida
MBA (Finance) University of Georgia
Southeastern since 1986
29 years investment experience
BBA (Finance) University of Texas