Longleaf Partners Fund (LLPFX)
Fund Facts at 3/31/13
| Inception Date | April 8, 1987 |
| Net Assets | $8.2 billion |
| Expense Ratio | 0.91% |
| 5yr Avg. Turnover | 28% |
| Total Holdings | 16 |
| Wtd. Avg. Market Cap | $35.5 billion |
| Minimum | $10,000 |
| Ticker | LLPFX |
| CUSIP | 54306910-8 |
Portfolio Managers
O. Mason Hawkins, CFA
Southeastern since 1975
G. Staley Cates, CFA
Southeastern since 1986
Investment Objective
Longleaf Partners Fund seeks long-term capital growth by investing primarily in a limited number of mid and large cap US companies believed to be significantly undervalued.
Fund Information
- Invests primarily in US companies with flexibility to own up to 30% in non-US holdings.
- Invests generally in companies with market capitalizations over $5 billion.
- Benchmark index is S&P 500, though portfolio construction is 100% bottom-up.
- Southeastern employees, related parties, and Longleaf trustees are the largest shareholder group with a collective investment of over $400 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.
- The Fund is currently open to new investors, but has been closed to new investors when we could not find qualifying investments.
Management
Southeastern has managed all portfolios consistently for over three decades.
- We adhere to the same Governing Principles.
- We employ the same Investment Approach.
- We follow the same Investment Process.
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