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Article by DailyStocks_admin    (08-04-09 01:12 AM)
09q2letter We are pleased to report that all three Longleaf Partners Funds outperformed our absolute annual goal of inflation plus 10% in the second quarter, and the Partners and Small-Cap Funds also beat their respective indices. The Partners Fund, which posted the best quarter in its 22 year history, is the top performing fund in its peer group for 2009 YTD. The quarter-end returns for Small-Cap and International were second only to their results in the second quarter of 2003.We recognize that to return to our historic levels of compounding from the debacle of last year’s fourth quarter, the results of the last three months must be repeated.

Keywords; SHAREHOLDERS , Partners , Fund , LONGLEAF PARTNERS , Small-Cap Funds , International Fund, U.S. stock Market, O. Mason Hawkins,G. Staley Cates

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