Fund Evaluator:
Longleaf Partners Global (LLGLX)
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Best Performing in Global Small/Mid Stock Over the Last Year
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Fund Details
Longleaf Partners Global Overview
Longleaf Partners Global (LLGLX) is an actively managed International Equity Global Small/Mid Stock fund. Longleaf Partners launched the fund in 2012.
The investment seeks long-term capital growth. The Global Fund normally invests at least 40% of total assets in the equity securities of non-U.S. issuers throughout the world, 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 primarily owns common stock or securities convertible into common stocks. The fund is non-diversified.
About Longleaf Partners Global (LLGLX)
There are 2 members of the management team with an average tenure of 10.59 years: Ross Glotzbach (2019), O. Hawkins (2012). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: FTSE Developed Net Tax NR USD index with a weighting of 100% and MSCI World NR USD index with a weighting of 100%. Longleaf Partners Global has 22 securities in its portfolio. The top 10 holdings constitute 60.2% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Longleaf Partners Global is part of the Equity global asset class and is within the International Equity fund group. Longleaf Partners Global has 38.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 49.0%. There is 38.9% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Longleaf Partners Global has 9.0% of the portfolio in cash.
Assets Under Management
The fund has $708 million in total assets, which is below the $892 million average for the Global Small/Mid Stock category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
LLGLX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Longleaf Partners Global expense ratio is high compared to funds in the Global Small/Mid Stock category. Longleaf Partners Global has an expense ratio of 0.95%, which is 24% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Longleaf Partners Global has a portfolio turnover rate of 70%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 57% for the Global Small/Mid Stock category.
Recently, in the month of July 2026, Longleaf Partners Global returned 2.7%, which earned it a grade of A, as the Global Small/Mid Stock category had an average return of -2.0%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Longleaf Partners Global has a trailing yield of 2.38%, which is above the 1.34% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Longleaf Partners Global Grades
Year to date, the fund has returned 3.9%, 7.0 percentage points worse than the category, which translates into a grade of F. The fund has returned 11.9% over the past year (grade of D), 9.3% over the past three years (grade of C) and 4.2% per year over the past five years (grade of B) and 7.1% per year over the past 10 years (grade of D).
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LLGLX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| LLGLX Return (NAV) | 2.7% | 4.5% | 11.9% | 9.3% | 4.2% | 7.1% |
| LLGLX Grade | A | B | D | C | B | D |
| +/- Category | 4.6% | 2.8% | -4.8% | -0.1% | 1.2% | -1.2% |
| Global Small/Mid Stock Avg | -2.0% | 1.7% | 16.8% | 9.4% | 2.9% | 8.3% |
| LLGLX Tax Cost Ratio | na | na | 2.6% | 1.3% | 1.3% | 1.2% |
LLGLX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| LLGLX Return (NAV) | 3.9% | 16.7% | 10.5% | 22.5% | -24.1% | 8.2% | 3.6% | 20.4% | -16.2% | 26.3% | 20.4% |
| LLGLX Grade | F | B | A | A | B | F | F | F | D | C | A |
| +/- Category | -7.0% | 2.6% | 7.6% | 6.0% | -1.8% | -7.9% | -23.9% | -7.2% | -2.1% | 0.3% | 12.6% |
| Global Small/Mid Stock Avg | 10.9% | 14.2% | 2.9% | 16.5% | -22.3% | 16.1% | 27.5% | 27.6% | -14.0% | 26.0% | 7.9% |
| Risk Measures | |
| Standard Deviation: | 15.2% |
| Total Risk Index: | 1.24 - Above Average |
| Category Risk Index: | 0.90 - Below Average |
| Category Risk Grade: | B (22% Rank) |
| Beta: | 0.89 |
| R-Squared: | 55% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Value |
| Bond Investment Style: | na |
| Yield: | 2.4% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $708 Mil |
| Fund Total Assets: | $ 708 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 70% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 13.6 years | |||
| Average Tenure: 10.6 years | |||
| Managers (Year): Hawkins O. (2012), Glotzbach Ross (2019) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 22 |
| % in Top 10 Holdings: | 60.2% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 38.9% |
Portfolio Allocation |
|
| Domestic Stock: | 49.0% |
| Foreign Stock: | 38.9% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 3.2% |
| Cash: | 9.0% |
Purchase Information
| Fund Family: | Longleaf Partners |
| Phone Number: | 800-445-9469 |
| Website: | www.longleafpartners.com |
| Status: | Open |
| Inception Date: | December 27, 2012 |
| Min. Initial Purchase: | $10,000 |
| Min. Initial IRA Purchase: | $10,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.95% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.26% |
| Share Class: | Longleaf Partners Global |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
