Longleaf Partners Global Fund’s Q4 2025 Investor Letter

Longleaf Partners, managed by Southeastern Asset Management, released its fourth-quarter 2025 investor letter for “Longleaf Partners Global Fund”. The Fund returned 5.27% in the quarter, compared to the MSCI World’s 3.12% and the MSCI World Value’s 3.34% return. The Fund returned 16.72% for the year, compared to 21.09% and 20.79% returns, respectively, for the indexes. 2025 was a solid year for the Fund, celebrating Southeastern’s 50th anniversary and the 25th anniversary of the global strategy. Underweight exposure in Financials and choosing to hold cash, along with a lack of late-in-the-cycle Industrials, led to the underperformance of the Fund in the year. Please review the Fund’s top five holdings to gain insights into their key selections for 2025.

A copy of Longleaf Partners Global Fund’s Q4 2025 investor letter can be downloaded here.