Longleaf Partners Mutual Funds: Funds Detail: Partners Fund

As of 6/30/10
DIRECTV	satellite broadcaster	8.9%
Chesapeake Energy	natural gas exploration & production	7.3%
Dell	information technology	7.3%
Yum! Brands	franchisor/owner-Taco Bell, KFC, Pizza Hut	7.2%
Pioneer Natural Resources	oil & gas exploration & production	7.0%
Walt Disney	entertainment and broadcasting	6.2%
Cemex	cement company	5.2%
NKSJ Holdings	Japanese non-life insurance	4.7%
Aon Corporation	insurance brokerage & consulting	4.6%
The Bank of New York Mellon	securities services and asset management	4.5%
Total		62.9%
This website contains links to other websites that are not controlled or maintained by Longleaf or Southeastern Asset Management. Longleaf and Southeastern Asset Management are not responsible for the content of these other websites, and the inclusion of a link to another website does not imply any endorsement or verification by Longleaf or Southeastern Asset Management of the information contained on that website. In addition, information provided regarding Longleaf's holdings should not be considered a recommendation to purchase or sell any particular security.

As of 7/31/10
Equities	94.3%
Cash & Other	4.2%
Bonds	1.5%
Total	100%

As of 6/30/10
Energy	14.8%
Materials	5.4%
Industrials	5.7%
Consumer Discretionary	29.8%
Consumer Staples	2.7%
Health Care	0.0%
Financials	17.3%
Information Technology	7.5%
Telecomm Service	5.9%
Utilities	0.0%
Miscellaneous	10.9%
Total	100%

Top 3 Contributors for Quarter Ended 6/30/10
Pioneer Natural Resources
DIRECTV
Yum! Brands

Bottom 3 Contributors for Quarter Ended 6/30/10
Dell Inc.
Liberty Media Interactive
Level 3 Communications

The holdings identified above do not represent all of the securities purchased, sold, or recommended for the Longleaf Partners Fund or advisory clients of Southeastern Asset Management, Inc. A discussion of the methodology used to choose the holdings shown, along with a list showing every holding’s contribution to the Fund’s overall performance, can be obtained by calling 1-800-761-2474.

Please call 1-800-445-9469 or click here to view current monthly performance, or click here for a current copy of the Prospectus ans Summary Prospectus, both of which should be read carefully before investing to learn about the investment objectives, risks, charges and expenses of the Longleaf Partners Funds. Discussion of particular investments should not be viewed as a recommendation to buy or sell any security.