Here’s Why Longleaf Partners Exited its Formula One Group (FWONK) Position Longleaf Partners Fund, an investment management firm under Southeastern Asset Management, published its “Longleaf Partners Small-Cap Fund” first quarter 2021 investor letter – a copy of which can be downloaded here. A return of 11.74% was delivered by the fund for the Q1 of 2021, slightly below its Russell 2000 benchmark that had a 12.70% gain in the same period. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021. Longleaf Partners Small-Cap Fund, in their Q1 2021 investor letter, mentioned Formula One Group (NASDAQ: FWONK) and shared their insights on the company. Formula One Group is an Englewood, Colorado-based motor sports company that currently has a $10.7 billion market capitalization. Since the beginning of the year, FWONK delivered an 11.21% return, extending its 12-month gains to 62.19%. As of April 22, 2021, the stock closed at $47.01 per share.