Letters by company

Gruma SAB de CV

2 letters discussing GPAGF. Everything written about it on this site is on its ticker page.

Southeastern Asset Management Longleaf Partners Global Fund 3Q26 Commentary The Global Fund argues that temporary earnings resets and market dislocations have widened discounts to intrinsic value across holdings including Mattel, IDP Education, Rayonier and Albertsons. It added to Fortune Brands and Canal+, bought Universal Music Group and another undisclosed Asian investment, and exited Glanbia after its shares exceeded appraisal value. 3Q26 ACI $6.3BFBIN $4.7BGPAGF $4.4B
Southeastern Asset Management Longleaf Partners Small-Cap Fund 3Q26 Commentary Longleaf Small-Cap Fund argues that a wide gap between share prices and appraised value reflects temporary earnings disappointments and misplaced market fears rather than lasting impairment. The portfolio added a new free-cash-flow-generating position, increased engagement with holdings including Mattel and Empire State Realty, and expects catalysts such as asset sales, buybacks and strategic interest to close valuation discounts. 3Q26 MAT $4.8BBATRA $3.7BBCCLF $2.8B