Longleaf Partners International Fund

Longleaf Partners International Fund

Top Holdings at 3/31/17

Holding Country Industry Percent
LafargeHolcim Switzerland Construction Materials 8.4
EXOR Netherlands Diversified Financial Services 8.2
Melco International Hong Kong Hotels, Restaurants & Leisure 7.9
CK Hutchison Hong Kong Industrial Conglomerates 7.0
OCI Netherlands Chemicals 5.7
CEMEX (bond) Mexico Construction Materials 4.9
Cheung Kong Property Hong Kong Real Estate Management & Development 4.7
Yum China China Hotels, Restaurants & Leisure 4.7
Great Eagle Hong Kong Real Estate Management & Development 4.6
C&C Ireland Beverages 4.3
Total 60.4

Portfolio Composition at 3/31/17

 Equities & Other 77.4
 Bonds 4.9
 Cash 17.7
Total 100.0%

Sector Composition at 3/31/17

 Materials 19.5
 Consumer Discretionary 16.5
 Real Estate 11.5
 Industrials 11.4
 Financials 11.1
 Consumer Staples 4.3
 Information Technology 4.1
 Telecommunication Services 2.5
 Health Care 1.4
 Cash 17.7
Total 100.0%

Country Composition at 3/31/17

 Hong Kong 26.4
 Netherlands 13.9
 China 8.8
 Switzerland 8.4
 Mexico 4.9
 Spain 4.4
 Ireland 4.3
 Canada 2.9
 Singapore 2.8
 Sweden 2.5
 Germany 1.4
 Malaysia 1.1
 Brazil 0.5
 Cash 17.7
Total 100.0%

Primary Contributors to Return

1/1/17 to 3/31/17
Holding Percent
Melco International 2.02
EXOR 1.63
LafargeHolcim 1.05

Primary Detractors to Return

1/1/17 to 3/31/17
Holding Percent
C&C -0.21
Great Eagle -0.08
Fairfax Financial -0.05

View current month-end performance Returns reflect reinvested capital gains and dividends but not the deduction of taxes an investor would pay on distributions or share redemptions. The performance data quoted represents past performance and is no guarantee of future results. The return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the past performance quoted.

Before investing in any Longleaf Partners fund, you should carefully consider the Fund’s investment objectives, risks, charges, and expenses. The Prospectus and Summary Prospectus contain this and other important information. Please read the Prospectus and Summary Prospectus carefully before investing.

The above holdings do not represent all of the securities purchased, sold, or recommended for the Fund. Discussion of particular investments is not a recommendation to buy or sell any security and holdings are subject to change.

The information above contains links to sites not controlled or maintained by Longleaf or Southeastern. The links do not imply any endorsement or verification of the information on those websites.