Longleaf Partners, managed by Southeastern Asset Management, released its first-quarter 2026 investor letter. The Fund returned -4.46% in the quarter, compared to the S&P 500’s -4.33% and the Russell 1000 Value Index’s 2.10% return. The year began similarly to the second half of 2025, with rising stocks and penalization for caution. February was marked by unusual sector-wide movements influenced by perceived AI outcomes. Complications arose from the Iran War and increasing private...
Longleaf Partners Fund’s Q1 2026 Investor Letter
