The Longleaf Small-Cap Fund has posted its first-quarter letter to shareholders.
The fund produced absolute returns far above management's absolute annual return goal of inflation plus 10 percent in the first quarter and over the last year, rising 12 percent and 25.4 percent, respectively. Over the long-term, the fund has also outperformed the Russell 2000 Index, including more than doubling the cumulative returns of the benchmark over the 15- and 20-year periods. Since the financial crisis in 2008 and the fund’s low point in March of 2009, Small-Cap has gained 250.8 percent versus the index’s 193.3 percent.
You can read the full report by clicking here.
Longleaf is no longer a component of the Bradway Strategic Portfolio but remains in many client accounts.
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