Longleaf Partners Small-Cap Fund (LLSCX)
Fund Facts at 3/31/13
|Inception Date||February 21, 1989|
|Net Assets||$4.0 billion|
|5yr Avg. Turnover||24%|
|Wtd. Avg. Market Cap||$3.4 billion|
O. Mason Hawkins, CFA
Southeastern since 1975
G. Staley Cates, CFA
Southeastern since 1986
Fund closed to new investors since 1997.
Longleaf Partners Small-Cap Fund seeks long-term capital growth by investing primarily in a limited number of small-cap companies believed to be significantly undervalued.
- Invests primarily in US companies with flexibility to own up to 30% in non-US holdings.
- Invests generally in companies with market capitalizations over $1 billion and up to market capitalizations found within small-cap indices ($6.7 billion at 12/31/11).
- Benchmark index is Russell 2000, 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 $250 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.
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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