Mason Hawkins Southeastern Asset Management
Mason Hawkins co-founded Southeastern Asset Management, adviser to the Longleaf Partners funds, and is a leading figure in absolute-value investing. The firm is known for concentrated portfolios, appraised-value analysis, and a long-term partnership culture with portfolio companies. Hawkins’s process emphasizes free cash flow, management alignment, and buying at a discount to intrinsic value.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
SUM
Summit Materials, Inc. Class A Common Stock
SUM
|
+$205M |
| 2 |
Affiliated Managers Group
AMG
|
+$173M |
| 3 |
GE Aerospace
GE
|
+$117M |
| 4 |
Yum China
YUMC
|
+$71.2M |
| 5 |
Lazard
LAZ
|
+$46.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SONC
Sonic Corp
SONC
|
+$222M |
| 2 |
FCE.A
Forest City Realty Trust, Inc.
FCE.A
|
+$190M |
| 3 |
CNR
Core Natural Resources Inc
CNR
|
+$150M |
| 4 |
Comcast
CMCSA
|
+$134M |
| 5 |
AGN
Allergan plc
AGN
|
+$128M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 33.72% |
| 2 | Industrials | 26.47% |
| 3 | Consumer Discretionary | 9.33% |
| 4 | Real Estate | 8.87% |
| 5 | Energy | 8.75% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
GLIBA
26
DELISTED
GCI Liberty, Inc. Class A Common Stock (DE)
GLIBA
| $8.98M | 0.11% |
176,038
| – | – |
|
|
SEI
27
Solaris Energy Infrastructure
SEI
$3.51B
| $8.45M | 0.1% |
447,336
| – | – |
|
|
AMR
28
DELISTED
Alta Mesa Resources Inc
AMR
| $823K | 0.01% |
197,000
| – | – |
|
29
Franklin Templeton, Inc.
BEN
$17.4B
| – | – |
-1,566,007
| Closed | -$50.2M |
|
30
Televisa
TV
$1.47B
| – | – |
-2,179,804
| Closed | -$41.3M |
|
|
CNR
31
Core Natural Resources Inc
CNR
$4.72B
| – | – |
-3,899,815
| Closed | -$150M |
|
|
FCE.A
32
DELISTED
Forest City Realty Trust, Inc.
FCE.A
| – | – |
-8,346,504
| Closed | -$190M |
|
|
SONC
33
DELISTED
Sonic Corp
SONC
| – | – |
-6,436,879
| Closed | -$222M |
|
Similar funds
Mason Hawkins's Q3 2018 Portfolio in Review
As of Q3 2018, Mason Hawkins held 33 positions worth $8.33B, down 6.9% from $8.95B the previous quarter. Its ten largest holdings account for 75% of the portfolio.
Mason Hawkins withdrew a net $742M in Q3 2018, closing 5 positions and reducing 13 holdings. Its most notable exit was Sonic Corp, an estimated $222M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 34% of assets, up from 32% a quarter earlier, followed by Industrials and Consumer Discretionary.
Against the trend, Mason Hawkins opened a new position in Summit Materials, Inc. Class A Common Stock worth $168M.
- Mason Hawkins's largest Q3 2018 buy was Summit Materials, Inc. Class A Common Stock: 9,408,526 shares worth $168M.
- Mason Hawkins added most to GE Aerospace in Q3 2018, an estimated $117M increase.
- Mason Hawkins's biggest Q3 2018 reduction was Comcast, cutting an estimated $134M.
- Mason Hawkins fully exited Sonic Corp in Q3 2018, selling an estimated $222M.
- Mason Hawkins's ten largest holdings make up 75% of its $8.33B portfolio in Q3 2018.
- Mason Hawkins opened 4 new positions and closed 5 in Q3 2018.
- Mason Hawkins's portfolio value fell 6.9% quarter-over-quarter to $8.33B.
Based on Southeastern Asset Management's 13F filing for Q3 2018, filed 14 Nov 2018.