Longleaf Partners Funds Trust - Longleaf Partners Global Fund

What Longleaf Partners Funds Trust - Longleaf Partners Global Fund does

Longleaf Partners Global Fund (ticker LLGLX) is an SEC-registered open-end mutual fund launched on December 27, 2012, and managed by Southeastern Asset Management, an investment adviser founded in 1975 and headquartered in Memphis, Tennessee. The fund applies a concentrated, long-term value approach, typically holding 15-25 global companies selected through the firm's proprietary "Business, People, Price" framework. The strategy targets durable franchises trading at meaningful discounts to intrinsic value, with the firm practising an "engaged ownership" model of long-tenured, often board-level relationships with portfolio companies. Southeastern Asset Management is 100% employee-owned, with approximately $1.1B of employee capital invested alongside clients, and operates a global research network with an Asia-Pacific presence spanning more than five decades.

The fund serves two principal client segments: US individual investors via the mutual fund vehicle (minimum investment of $10,000) and institutional clients via separately managed accounts (minimum $25 million). Revenue is generated through management fees, with the Global Fund carrying a gross expense ratio of 0.96% and a net expense ratio of 0.95% (with a fee waiver extended through May 2027). Distribution is conducted through ALPS Distributors, and the Global Fund sits within a broader Longleaf Partners fund family that also includes US Small-Cap and International Small-Cap strategies. As of June 2026, Global Fund net assets stood at approximately $0.7B, with roughly $3.1B of firm-wide assets now operating under integrated ESG considerations following the firm's UNPRI signatory status and partnership with MSCI ESG. Reported Global Fund 10-year trailing return of 7.56% trailed the MSCI World Index return of 13.14% over the comparable period, reflecting a period in which the concentrated value approach underperformed broad global benchmarks.

Name

Longleaf Partners Funds Trust - Longleaf Partners Global Fund

Legal name

Longleaf Partners Funds Trust

Website

https://southeasternasset.com

Company type

Private

Founded year

1987

Operating status

Operating

Short description

Longleaf Partners Global Fund (LLGLX) is an SEC-registered mutual fund managed by Southeastern Asset Management, applying a concentrated value approach in 15-25 global companies for US individual and institutional investors.

Ownership category

akta.pro rank

Product category

Asset Management

NAICS

Open-End Investment Funds (525910), Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Global/International & Emerging Markets Mutual Funds (FSAAAEAK)

akta.pro secondary industries

ESG/SRI/Impact Mutual Funds (FSAAAEAI), Transition / Engagement & Stewardship Funds (FSANAJAO)

Keywords

• Value equity investing
• Mutual fund management
• Separately managed accounts
• Concentrated portfolio investing
• Global equity management

Headquarters

HQ city

Memphis

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Investment Management Fees: Longleaf Partners Global Fund charges investment management fees through expense ratios. The Global Fund has a gross expense ratio of 0.96% and net expense ratio of 0.95% (after contractual fee waiver through May 1, 2027). Partners Fund has 0.93% gross/0.79% net. Small-Cap Fund has 1.02% gross/0.95% net.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Longleaf Partners Global Fund is a global equity mutual fund that seeks long-term capital growth by investing in a concentrated portfolio of 15-25 global companies meeting the Business, People, Price criteria, with market capitalizations over $3 billion. It is part of the Longleaf Partners Funds Trust family advised by Southeastern Asset Management, which also offers the Partners Fund, Small-Cap Fund, and International Fund, alongside separately managed accounts (Global, US, Asia Pacific mandates) for institutional clients. All strategies apply the same bottom-up, concentrated, engaged value investing approach.

Product overview

Southeastern Asset Management offers the Longleaf Partners Funds family of SEC-registered mutual funds and Separately Managed Accounts. The core products include Longleaf Partners Fund (US large-cap), Longleaf Partners Small-Cap Fund (US small-cap), Longleaf Partners Global Fund (global), and Longleaf Partners International Fund (international), all applying the same long-term, concentrated, engaged value investing approach with 15-25 company portfolios. Separately Managed Accounts (Global, US, and Asia Pacific Mandates) serve institutional clients with $25 million minimums. The Price-to-Value Podcast provides educational investment content. All strategies use the Business, People, Price investment framework.

Differentiator

Problem solved

Functional benefit

Products and services

• Longleaf Partners Fund A US-focused equity mutual fund (LLPFX) seeking superior long-term investment returns by investing in a concentrated portfolio of 15-25 US companies meeting Business, People, Price criteria, targeting companies with market capitalizations over $5 billion. Available for US investors with a $10,000 minimum.
• Longleaf Partners Small-Cap Fund A small-cap US equity mutual fund (LLSCX) investing in 15-25 small-cap companies meeting Business, People, Price criteria, with at least 80% of assets in companies with market capitalizations over $1 billion. May invest up to 30% in non-US securities. Available for US investors with a $10,000 minimum.
• Longleaf Partners Global Fund A global equity mutual fund (LLGLX) seeking long-term capital growth by investing in 15-25 global companies meeting Business, People, Price criteria, with market capitalizations over $3 billion. Non-diversified fund benchmarked against MSCI World Index. Available for US investors with a $10,000 minimum.
• Longleaf Partners International Fund An international equity mutual fund investing in non-US securities, including potential emerging market issuers, meeting the firm's value investing criteria. Available for US investors with a $10,000 minimum.
• Global Mandate (Separately Managed Account) A separately managed account offering for institutional investors applying Southeastern's global value investing strategy to a concentrated portfolio of 15-25 global securities. Available globally with a $25 million minimum.
• US Mandate (Separately Managed Account) A separately managed account focused on US equities, investing in 15-25 companies with market capitalizations over $5 billion, with up to 30% in non-US investments. Available globally with a $25 million minimum.
• Asia Pacific Mandate (Separately Managed Account) A separately managed account investing in companies across Asia, Japan, Australia, and New Zealand with market capitalizations over $1 billion, holding 15-25 securities with no currency hedging. Available with a $25 million minimum.

Quantifiable outcome

• Global Fund 10-year return of 7.56% (as of June 2026) vs MSCI World Index 13.14%
• +2 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered core, supporting and minor.

• ALPS Distributors, Inc.coreChannel Partner/ Reseller/ DistributorALPS Distributors, Inc. serves as the principal underwriter/distributor for Longleaf Partners Funds. This is a core distribution partnership enabling the sale of SEC-registered mutual funds to investors.
• UNPRI (United Nations-supported Principles for Responsible Investment)coreOthersSoutheastern is a signatory to the UNPRI, a leading global network for investors committed to integrating ESG considerations into investment practices and ownership policies. Signatory status demonstrates commitment to responsible investing principles.
• MSCI ESGsupportingTechnology or IntegrationSoutheastern uses MSCI ESG as a third-party data provider to help quantify ESG-specific metrics as a supplement to in-house bottom-up analysis.
• The Longleaf AllianceminorOthersSoutheastern supports efforts to re-forest longleaf pines through The Longleaf Alliance. The longleaf pine is the namesake for the Longleaf Funds and supports a vast ecosystem.
• Tall TimbersminorOthersSoutheastern supports longleaf pine conservation efforts through Tall Timbers research station.
• Yale Planetary Solutions ProjectminorOthersSoutheastern is encouraged by the Yale Planetary Solutions Project sponsored by FedEx ($100mn donation) focused on climate change solutions through natural carbon sequestration.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Dodge & Cox: San Francisco-based active value manager with concentrated portfolios across US and global equity strategies. Closely comparable to Southeastern in philosophy, long-term orientation, employee ownership culture, and target institutional/individual client base.
• Ariel Investments: Concentrated US value manager with mutual funds and SMAs. Closely comparable to Southeastern in concentrated portfolio construction, value discipline, and long-tenured employee culture.
• Tweedy, Browne Company: Long-tenured global value manager applying a bottom-up, discount-to-intrinsic-value approach. Highly comparable to Southeastern's Global Fund in philosophy, concentrated portfolio construction, and institutional/individual channel mix.
• Artisan Partners: Mid-sized active asset manager offering concentrated value, growth, and global equity strategies through mutual funds and SMAs. Comparable in multi-product structure and institutional distribution, though broader in style than Southeastern.
• Brandes Investment Partners: Global value manager with mutual fund and SMA offerings focused on undervalued equities. Directly comparable to Southeastern's Global and International Funds in mandate, geography, and value philosophy.
• First Eagle Investment Management: Global value manager with concentrated mandates and a long-term, capital-preservation orientation. Directly comparable to Southeastern's Global Fund in product mix, fee structure, and target client segments.
• ClearBridge Investments: Active equity manager with concentrated value strategies across US and global mandates. Comparable to Southeastern in product breadth and institutional focus, with overlapping client segments.
• Royce Investment Partners: Specialist small-cap value manager offering mutual funds and SMAs with a long-term, concentrated approach. Directly comparable to the Longleaf Partners Small-Cap Fund in strategy, vehicle mix, and channel.
• Harris Associates (Oakmark Funds): Concentrated, conviction-weighted value manager with mutual fund and SMA offerings. Comparable to Southeastern in portfolio concentration, value discipline, and similar retail-institutional distribution model.

Emerging players

• Third Avenue Management: Specialist value and distressed-equity manager with concentrated mandates. Comparable to Southeastern in deep-value discipline, though smaller and more narrowly focused post recent industry consolidation.

Market position

Strengths1 record

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/southeastern-asset-management

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Longleaf Partners Funds Trust - Longleaf Partners Global Fund