Longleaf Partners Fund’s Q3 2026 Investor Letter

Longleaf Partners, managed by Southeastern Asset Management, released its third-quarter 2026 investor letter for its “Partners Fund”. Coming into this year, the Fund’s three-year annualized returns were at 11.7%, but recent performance, particularly this year and in Q3, has raised concerns about the investment strategy. The Fund returned 2.41% in Q3 and -3.15% YTD compared to 2.30% and 12.75% for the S&P 500, respectively. Despite varying stock prices, the firm believes that it is on...