Longleaf Partners Small-Cap Fund (LLSCX)

Overview

The Global Fund is an investment fund that focuses on a diverse international investment strategy. It primarily seeks to allocate a significant portion of its total assets in equity securities of non-U.S. issuers across the globe. This includes investments in both developed markets and emerging economies. Furthermore, the fund employs strategies such as investing in American depositary receipts (ADRs) to gain exposure to non-U.S. securities. Despite its global outreach, the fund is classified as non-diversified, meaning it may focus on a smaller number of investments which could result in higher volatility. Its investment portfolio predominantly comprises common stock or securities convertible into common stocks, aiming to offer its investors growth by capturing the dynamics of international markets.

Products and Services

• Equity Securities of Non-U.S. Issuers

This service involves the fund investing at least 40% of its total assets in the equity securities of companies located outside the United States. By tapping into various international markets, including emerging economies, the fund seeks to benefit from global economic growth patterns and diversification beyond the US-centric assets.

• American Depositary Receipts (ADRs)

Another key aspect of the fund's strategy includes investment in ADRs, which are a form of equity security that represents the shares of a foreign stock. ADRs allow the fund to gain exposure to non-U.S. companies without dealing with the complexities of foreign markets directly. This method simplifies investing in foreign securities by trading them on U.S. stock exchanges and dealing in U.S. dollars.

• Common Stock and Convertible Securities

The primary focus of the fund's portfolio is on common stock or securities that are convertible into common stock. This allows the fund to participate directly in the growth potential of its holdings. Convertible securities provide an additional layer of flexibility, as they can be converted into a predetermined number of common shares, often at the discretion of the investor, under specific conditions.