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Longleaf Partners Small-Cap Fund’s Q2 2025 Investor Letter

Longleaf Partners, managed by Southeastern Asset Management, released its “Small-Cap Fund” second-quarter 2025 investor letter. The fund returned 2.70% in the second quarter, compared to the Russell 3000’s 10.99% return and the Russell 2000’s 8.50% gain. For more information on the fund’s best picks in 2025, please check its top five holdings.

A copy of Longleaf Partners Small-Cap Fund’s Q2 2025 investor letter can be downloaded here.