Includes detailed analysis of Longleaf Partners' positions in CTL, OCINF, BEL, SONC.
All four Longleaf Partners Funds posted positive gains in Q3. The International Fund exceeded both inflation plus 10% and the benchmark index. The Partners and Small-Cap Funds met our absolute goal of inflation plus 10% while the Global Fund was slightly below that target.
Returns across the Funds were in the low single-digit range, while the relevant indices posted a more disparate 1.36% (MSCI EAFE), 3.58% (Russell 2000), 4.98% (MSCI World) and 7.71% (S&P 500).