Longleaf Partners Fund Drops Bio-Rad After Q2 Underperformance

Longleaf Partners Fund exited Bio-Rad Laboratories (NYSE: BIO) during the second quarter of 2026, according to the fund's latest commentary. The move came as the fund posted a 3.87% return for the period, well behind the S&P 500's 15.20% gain and the Russell 1000 Value Index's 13.87% advance.

The fund initiated one new position in a healthcare company during the quarter, though the commentary did not name it. Bio-Rad, a maker of life science research and clinical diagnostic products, has drawn activist interest in recent years, with investors pointing to potential value in its core business and its stake in the digital biology firm Bio-Rad.

Longleaf did not specify the reason for the exit. The fund's Q2 letter is available to shareholders.