Longleaf Partners Funds Trust - Longleaf Partners Small Cap Fund
Fund
LLSCX
Price as of:
$25.82
+ $0.23
+ 0.90%
Primary Theme
fund company
Name
As of 04/18/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
$25.82
$1.63 B
0.92%
$0.23
0.97%
Vitals
YTD Return
3.4%
1 yr return
19.9%
3 Yr Avg Return
-0.4%
5 Yr Avg Return
4.7%
Net Assets
$1.63 B
Holdings in Top 10
63.1%
52 WEEK LOW AND HIGH
$25.6
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.97%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 33.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$10,000
IRA
$10,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/18/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
$25.82
$1.63 B
0.92%
$0.23
0.97%
LLSCX - Profile
Distributions
- YTD Total Return 3.4%
- 3 Yr Annualized Total Return -0.4%
- 5 Yr Annualized Total Return 4.7%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.61%
- Dividend Yield 0.9%
- Dividend Distribution Frequency Annually
Fund Details
-
Legal NameLongleaf Partners Funds Trust - Longleaf Partners Small Cap Fund
-
Fund Family NameLongleaf Partners
-
Inception DateAug 10, 1994
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerO. Hawkins
Fund Description
The Fund seeks superior long-term performance by acquiring equity securities of a limited number of small-cap U.S. companies that we believe meet our qualitative and quantitative criteria:
| • | Strong businesses that are understandable, financially sound, competitively entrenched, and will generate growing free cash flow; |
| • | Good management partners who are capable operators, responsible capital allocators, trustworthy, and shareholder-oriented; and |
| • | Good price that is typically 60% or less of our conservative appraisal determined through fundamental financial analysis using disciplines we’ve applied over 44 years. We believe purchasing equities at prices substantially less than their intrinsic worth establishes a margin of safety that should protect capital from significant permanent loss and provide the opportunity for substantial appreciation if the market recognizes the company’s value. |
We sell securities when they approach our appraisals, when we perceive a change in company fundamentals, a decline in attractiveness relative to other issues, or if the original reasons for purchase materially change.
The Small-Cap Fund normally invests at least 80% of net assets plus any borrowings for investment purposes in the equity securities, including convertible securities, of a limited number of companies whose market capitalizations at the time of purchase are
considered small cap. The Fund primarily owns common stock but may purchase other types of securities. The Fund may invest up to 30% of assets in non‑U.S. securities, which could include emerging market issuers, and may achieve its exposure to non‑U.S. securities through investing in American depositary receipts (ADRs).
The Fund is “non-diversified,” which means that it may invest a significant portion of its assets in a relatively small number of issuers, and generally invests in 15 to 25 companies.
Definition of Small-Cap ∎ Currently, a company will be considered small cap if its market capitalization (including the market capitalization of businesses to which a tracking stock relates) at the time of purchase is within the range of companies in the Russell 2000 Index, the S&P Small-Cap 600 Index, or the Wilshire US Small-Cap Index during the most recent 12‑month period (based on month-end data). This capitalization range will change over time. Fund investments are not limited to companies in these indices, however, and there is no requirement to sell securities of a company if it subsequently exceeds the top of the capitalization range.
LLSCX - Performance
Return Ranking - Trailing
| Period | LLSCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 3.4% | -13.8% | 16.2% | 33.52% |
| 1 Yr | 19.9% | -8.5% | 39.8% | 14.56% |
| 3 Yr | -0.4%* | -22.4% | 14.9% | 90.37% |
| 5 Yr | 4.7%* | -1.8% | 19.7% | 95.96% |
| 10 Yr | 6.0%* | 1.9% | 12.6% | 86.18% |
* Annualized
Return Ranking - Calendar
| Period | LLSCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 19.0% | -12.9% | 28.8% | 8.29% |
| 2022 | -20.2% | -52.6% | 20.1% | 58.50% |
| 2021 | 10.3% | -43.8% | 32.4% | 52.84% |
| 2020 | -1.7% | -10.6% | 82.1% | 93.20% |
| 2019 | 9.8% | -8.5% | 37.5% | 92.48% |
Total Return Ranking - Trailing
| Period | LLSCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 3.4% | -13.8% | 16.2% | 33.52% |
| 1 Yr | 19.9% | -8.5% | 39.8% | 14.56% |
| 3 Yr | -0.4%* | -22.4% | 14.9% | 90.37% |
| 5 Yr | 4.7%* | -1.8% | 19.7% | 95.96% |
| 10 Yr | 6.0%* | 1.9% | 12.6% | 86.18% |
* Annualized
Total Return Ranking - Calendar
| Period | LLSCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 20.2% | 1.2% | 31.3% | 13.81% |
| 2022 | -19.3% | -45.7% | 21.1% | 83.84% |
| 2021 | 11.2% | -30.2% | 52.8% | 97.16% |
| 2020 | 7.7% | -8.4% | 84.3% | 86.39% |
| 2019 | 19.7% | 1.0% | 43.4% | 93.42% |
NAV & Total Return History
LLSCX - Holdings
Concentration Analysis
| LLSCX | Category Low | Category High | LLSCX % Rank | |
|---|---|---|---|---|
| Net Assets | 1.63 B | 728 K | 160 B | 21.68% |
| Number of Holdings | 20 | 1 | 2609 | 98.92% |
| Net Assets in Top 10 | 745 M | 155 K | 11.7 B | 8.94% |
| Weighting of Top 10 | 63.12% | 3.4% | 100.0% | 2.45% |
Top 10 Holdings
- Lumen Technologies Inc Ordinary Shares 12.20%
- Lumen Technologies Inc Ordinary Shares 10.89%
- Eastman Kodak Company 10.38%
- CNX Resources Corp 6.86%
- PotlatchDeltic Corp 6.68%
- Oscar Health Inc Class A 6.29%
- Realogy Holdings Corp 5.78%
- Empire State Realty Trust Inc Class A 5.71%
- Mattel Inc 5.44%
- Liberty Braves Group C 5.43%
Asset Allocation
| Weighting | Return Low | Return High | LLSCX % Rank | |
|---|---|---|---|---|
| Stocks | 89.55% | 14.60% | 104.46% | 97.02% |
| Cash | 5.63% | 0.00% | 30.96% | 9.21% |
| Preferred Stocks | 4.81% | 0.00% | 14.30% | 1.36% |
| Other | 0.00% | -1.04% | 23.02% | 86.45% |
| Convertible Bonds | 0.00% | 0.00% | 1.78% | 87.80% |
| Bonds | 0.00% | 0.00% | 62.14% | 89.70% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | LLSCX % Rank | |
|---|---|---|---|---|
| Communication Services | 25.44% | 0.00% | 30.98% | 1.36% |
| Financial Services | 15.07% | 0.00% | 46.10% | 34.78% |
| Real Estate | 12.83% | 0.00% | 25.82% | 2.99% |
| Consumer Defense | 11.48% | 0.00% | 32.18% | 6.79% |
| Healthcare | 9.80% | 0.00% | 24.06% | 54.62% |
| Consumer Cyclical | 9.61% | 2.49% | 46.48% | 72.28% |
| Energy | 7.66% | 0.00% | 58.13% | 19.29% |
| Technology | 4.85% | 0.00% | 40.65% | 96.47% |
| Basic Materials | 3.24% | 0.00% | 16.35% | 84.78% |
| Utilities | 0.00% | 0.00% | 18.97% | 97.28% |
| Industrials | 0.00% | 0.00% | 45.89% | 100.00% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | LLSCX % Rank | |
|---|---|---|---|---|
| US | 79.44% | 14.60% | 104.46% | 97.56% |
| Non US | 10.11% | 0.00% | 19.95% | 0.81% |
LLSCX - Expenses
Operational Fees
| LLSCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.97% | 0.03% | 35.91% | 52.73% |
| Management Fee | 0.80% | 0.00% | 1.50% | 84.20% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.10% | 0.01% | 0.30% | 54.72% |
Sales Fees
| LLSCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| LLSCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| LLSCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 33.00% | 0.00% | 304.00% | 39.39% |
LLSCX - Distributions
Dividend Yield Analysis
| LLSCX | Category Low | Category High | LLSCX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.92% | 0.00% | 31.05% | 54.47% |
Dividend Distribution Analysis
| LLSCX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annually | Annual | Quarterly | Annual |
Net Income Ratio Analysis
| LLSCX | Category Low | Category High | LLSCX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.61% | -2.06% | 3.38% | 34.60% |
Capital Gain Distribution Analysis
| LLSCX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 21, 2023 | $0.235 | OrdinaryDividend |
| Dec 29, 2022 | $0.251 | OrdinaryDividend |
| Dec 29, 2021 | $0.217 | OrdinaryDividend |
| Nov 27, 2019 | $1.497 | OrdinaryDividend |
| Dec 28, 2018 | $0.764 | OrdinaryDividend |
| Dec 28, 2017 | $0.454 | OrdinaryDividend |
| Dec 29, 2016 | $0.096 | OrdinaryDividend |
| Dec 29, 2015 | $0.040 | OrdinaryDividend |
| Dec 28, 2012 | $0.030 | OrdinaryDividend |
| Dec 29, 2011 | $0.010 | OrdinaryDividend |
| Dec 29, 2010 | $0.110 | OrdinaryDividend |
| Dec 30, 2008 | $0.130 | OrdinaryDividend |
| Dec 27, 2007 | $0.200 | OrdinaryDividend |
| Dec 27, 2006 | $0.557 | OrdinaryDividend |
| Dec 28, 2005 | $0.570 | OrdinaryDividend |
| Dec 29, 2004 | $0.425 | OrdinaryDividend |
| Dec 29, 2003 | $0.435 | OrdinaryDividend |
| Dec 26, 2002 | $0.525 | OrdinaryDividend |
| Dec 28, 2001 | $0.240 | OrdinaryDividend |
| Dec 28, 2000 | $0.049 | OrdinaryDividend |
| Dec 29, 1999 | $0.078 | OrdinaryDividend |
| Dec 30, 1998 | $0.165 | OrdinaryDividend |
| Dec 27, 1996 | $0.024 | OrdinaryDividend |
| Dec 27, 1995 | $0.118 | OrdinaryDividend |
LLSCX - Fund Manager Analysis
Managers
O. Hawkins
Start Date
Tenure
Tenure Rank
Dec 31, 1989
32.44
32.4%
Hawkins has been in the investment business for more than 25 years and was Chairman and Chief Executive Officer, Southeastern since 1975. Hawkins holds the Chartered Financial Analyst designation.
G. Cates
Start Date
Tenure
Tenure Rank
Dec 31, 1994
27.43
27.4%
Cates, Vice Chairman, is president and Chief Investment Officer with Southeastern Asset Management since 1986. Prior to joining the firm, he was a research associate with Morgan Keegan & Company. Cates holds the Chartered Financial Analyst designation.
Ross Glotzbach
Start Date
Tenure
Tenure Rank
May 01, 2014
8.09
8.1%
Ross Glotzbach is President and Head of Research and Deputy Director of Research for Southeastern Asset Management, Inc since 2014.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.25 | 38.44 | 7.24 | 5.78 |