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Longleaf Partners Comments on Rolls-Royce

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Holly LaFon
Apr 15, 2016
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We exited our small position in British power systems company Rolls-Royce (LSE:RR.) after its price rallied in the first half of the quarter. The business has long-term upside, but the thesis will take longer to play out than we originally expected. We invested our proceeds in higher return opportunities.

From Longleaf Partners' International Fund first quarter 2016 letter.

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