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 |
DuPont de Nemours
DD
|
+$239M |
| 2 |
Hyatt Hotels
H
|
+$176M |
| 3 |
Williams Companies
WMB
|
+$103M |
| 4 |
Empire State Realty Trust
ESRT
|
+$84.8M |
| 5 |
UNVR
Univar Solutions Inc.
UNVR
|
+$84.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
GE Aerospace
GE
|
+$99.9M |
| 2 |
Lumen
LUMN
|
+$54.7M |
| 3 |
GLIBA
GCI Liberty, Inc. Class A Common Stock (DE)
GLIBA
|
+$49.9M |
| 4 |
Graham Holdings Company
GHC
|
+$44.3M |
| 5 |
Mattel
MAT
|
+$41.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 32.04% |
| 2 | Industrials | 24.7% |
| 3 | Consumer Discretionary | 11.46% |
| 4 | Energy | 10.67% |
| 5 | Real Estate | 7.77% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
UNVR
26
DELISTED
Univar Solutions Inc.
UNVR
| $48.7M | 1.16% |
+4,541,943
| New | +$84.3M |
|
27
Trip.com Group
TCOM
$29B
| $40.1M | 0.95% |
1,709,768
+518,487
| +44% | +$16.2M |
|
|
CNH
28
CNH Industrial
CNH
$19.1B
| $27.5M | 0.65% |
5,632,607
-540,145
| -9% | -$4.21M |
|
29
Kodak
KODK
$963M
| $8.58M | 0.2% |
4,960,000
| – | – |
|
30
Berkshire Hathaway Class B
BRK.B
$1.06T
| $7.08M | 0.17% |
+38,700
| New | +$8.23M |
|
|
WOW
31
DELISTED
WideOpenWest
WOW
| $3.4M | 0.08% |
715,259
+270,194
| +61% | +$1.64M |
|
|
VNTR
32
DELISTED
Venator Materials PLC
VNTR
| $2.51M | 0.06% |
1,460,818
| – | – |
|
33
Nokia
NOK
$57B
| – | – |
-3,250,000
| Closed | -$12.1M |
|
34
Wynn Resorts
WYNN
$10.3B
| – | – |
-3,520
| Closed | -$489K |
|
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Mason Hawkins's Q1 2020 Portfolio in Review
As of Q1 2020, Mason Hawkins held 34 positions worth $4.2B, down 30% from $6B the previous quarter. Its ten largest holdings account for 64% of the portfolio.
Mason Hawkins deployed $502M of net new capital in Q1 2020, opening 5 new positions and adding to 10 existing holdings. Its largest new stake was DuPont de Nemours: 3,908,025 shares worth $167M.
By sector, the portfolio is most concentrated in Communication Services at 32% of assets, up from 32% a quarter earlier, followed by Industrials and Consumer Discretionary.
On the sell side, the largest reduction was GE Aerospace, an estimated $99.9M trimmed.
- Mason Hawkins's largest Q1 2020 buy was DuPont de Nemours: 3,908,025 shares worth $167M.
- Mason Hawkins added most to Williams Companies in Q1 2020, an estimated $103M increase.
- Mason Hawkins's biggest Q1 2020 reduction was GE Aerospace, cutting an estimated $99.9M.
- Mason Hawkins fully exited Nokia in Q1 2020, selling an estimated $12.1M.
- Mason Hawkins's ten largest holdings make up 64% of its $4.2B portfolio in Q1 2020.
- Mason Hawkins opened 5 new positions and closed 2 in Q1 2020.
- Mason Hawkins's portfolio value fell 30% quarter-over-quarter to $4.2B.
Based on Southeastern Asset Management's 13F filing for Q1 2020, filed 15 May 2020.