Longleaf Partners Small-Cap Fund seeks long-term capital growth. The Small-Cap Fund normally invests
at least 80% of net assets in a limited number of companies considered small cap at the time of purchase and believed to be
significantly undervalued. Current income is not an objective. We are value investors. The Funds seek to achieve superior long-term performance by
acquiring equity securities of financially strong, well-managed companies
run by capable managements at market prices significantly below our
assessment of their business value. We sell stocks when they approach
our appraisal. We view equity investments as ownership in a business
enterprise.
We determine business or intrinsic value through financial analysis and
established disciplines which we have consistently applied over
three decades. Equities purchased at prices substantially less than
their intrinsic worth protect capital from significant permanent
loss of capital, and also appreciate substantially once the
market recognizes the company's economic value.
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| 16.02 |
-0.60 |
9.9% |
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| Funds returns include reinvested dividends and distributions, but do not reflect the deduction
of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. The performance stated may have been due to extraordinary market conditions,
which may not be duplicated in the future. Current performance may be lower or higher than the performance quoted. Please call 1-800-445-9469 or click here
for current performance information or for a copy of the Prospectus.
The Prospectus should be read carefully before investing to learn about the investment
objectives, risks, charges, and expenses of the Longleaf Partners Funds. Past performance is
no guarantee of future results, fund prices fluctuate and the value of an investment at redemption
may be more or less than the purchase price. The Longleaf Partners Funds are not for offer or sale outside the United States.
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