Longleaf Partners, managed by Southeastern Asset Management, released its “Partners Fund” third quarter 2024 investor letter. A copy of the letter can be downloaded here. The fund returned 10.42% in the third quarter, compared to the S&P 500’s 5.89% return and Russell 1000 Value’s 9.43% return. In the quarter, there were very few detractors, and more than half of the portfolio holdings generated double-digit returns. The market is starting to see the value in many of the companies that the firm highlighted in the first two letters this year, which is positive. For more information...
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