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 |
Wynn Resorts
WYNN
|
+$653M |
| 2 |
Alphabet (Google) Class C
GOOG
|
+$491M |
| 3 |
CNX Resources
CNX
|
+$373M |
| 4 |
DWA
DREAMWORKS ANIMATION SKG INC CL-A
DWA
|
+$137M |
| 5 |
HF Sinclair
DINO
|
+$130M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Mondelez International
MDLZ
|
+$921M |
| 2 |
LVLT
Level 3 Communications Inc
LVLT
|
+$495M |
| 3 |
Abbott
ABT
|
+$404M |
| 4 |
Travelers Companies
TRV
|
+$389M |
| 5 |
CHK
Chesapeake Energy Corporation
CHK
|
+$171M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 27.7% |
| 2 | Financials | 21.32% |
| 3 | Energy | 20.83% |
| 4 | Consumer Discretionary | 11.8% |
| 5 | Communication Services | 10.9% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
LVLT
1
DELISTED
Level 3 Communications Inc
LVLT
| $2.44B | 15.29% |
45,238,120
-9,496,925
| -17% | -$495M |
|
2
Loews
L
$22.5B
| $1.37B | 8.62% |
33,646,715
-365,983
| -1% | -$14.8M |
|
|
3
CNX Resources
CNX
$5.38B
| $1.25B | 7.87% |
53,939,725
+14,629,454
| +37% | +$373M |
|
4
McDonald's
MCD
$192B
| $1.06B | 6.64% |
10,853,774
-1,063,910
| -9% | -$101M |
|
|
CHK
5
DELISTED
Chesapeake Energy Corporation
CHK
| $909M | 5.71% |
321,002
-48,338
| -13% | -$171M |
|
6
FedEx
FDX
$76.9B
| $898M | 5.63% |
5,424,922
-439,503
| -7% | -$76.3M |
|
|
SNI
7
DELISTED
Scripps Networks Interactive, Inc Common Class A
SNI
| $851M | 5.34% |
12,417,820
-258,025
| -2% | -$18.8M |
|
8
Murphy Oil
MUR
$5.36B
| $734M | 4.61% |
15,759,281
-864,232
| -5% | -$41.8M |
|
9
Graham Holdings Company
GHC
$4.94B
| $726M | 4.56% |
1,145,444
-70,764
| -6% | -$41.8M |
|
10
Aon
AON
$75.3B
| $718M | 4.51% |
7,468,763
-704,813
| -9% | -$68.2M |
|
11
Everest Group
EG
$14.2B
| $579M | 3.63% |
3,326,975
-237,780
| -7% | -$41.8M |
|
|
12
Wynn Resorts
WYNN
$10.3B
| $576M | 3.61% |
+4,573,838
| New | +$653M |
|
|
13
Alphabet (Google) Class C
GOOG
$4.18T
| $501M | 3.14% |
+18,320,301
| New | +$491M |
|
14
Philips
PHG
$26.8B
| $480M | 3.01% |
24,446,582
-1,943,521
| -7% | -$38.7M |
|
15
Franklin Templeton, Inc.
BEN
$17.4B
| $435M | 2.73% |
8,479,393
-275,993
| -3% | -$14.6M |
|
|
DWA
16
DELISTED
DREAMWORKS ANIMATION SKG INC CL-A
DWA
| $385M | 2.42% |
15,903,175
+6,441,798
| +68% | +$137M |
|
|
CNH
17
CNH Industrial
CNH
$19.1B
| $353M | 2.22% |
49,737,866
+6,101,505
| +14% | +$42M |
|
|
BNY
18
Bank of New York Mellon
BNY
$108B
| $290M | 1.82% |
7,215,441
-500,242
| -6% | -$19.5M |
|
19
Vail Resorts
MTN
$5.45B
| $247M | 1.55% |
2,387,058
-3,729
| -0.2% | -$338K |
|
20
Rayonier
RYN
$6.31B
| $210M | 1.32% |
8,569,513
| – | – |
|
21
Viasat
VSAT
$10.3B
| $208M | 1.3% |
3,481,237
| – | – |
|
|
CRC
22
DELISTED
California Resources Corporation
CRC
| $204M | 1.28% |
2,674,300
-673,850
| -20% | -$41.2M |
|
|
23
HF Sinclair
DINO
$17.3B
| $137M | 0.86% |
+3,389,700
| New | +$130M |
|
|
CHMT
24
DELISTED
Chemtura Corporation
CHMT
| $132M | 0.83% |
4,825,900
+705,381
| +17% | +$17.4M |
|
25
Empire State Realty Trust
ESRT
$834M
| $83M | 0.52% |
4,410,682
-5,662,018
| -56% | -$103M |
|
Similar funds
Mason Hawkins's Q1 2015 Portfolio in Review
As of Q1 2015, Mason Hawkins held 34 positions worth $15.9B, down 8.4% from $17.4B the previous quarter. Its ten largest holdings account for 69% of the portfolio.
Mason Hawkins withdrew a net $1.07B in Q1 2015, closing 4 positions and reducing 17 holdings. Its most notable exit was Abbott, an estimated $404M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 28% of assets, up from 27% a quarter earlier, followed by Financials and Energy.
Against the trend, Mason Hawkins opened a new position in Wynn Resorts worth $576M.
- Mason Hawkins's largest Q1 2015 buy was Wynn Resorts: 4,573,838 shares worth $576M.
- Mason Hawkins added most to CNX Resources in Q1 2015, an estimated $373M increase.
- Mason Hawkins's biggest Q1 2015 reduction was Mondelez International, cutting an estimated $921M.
- Mason Hawkins fully exited Abbott in Q1 2015, selling an estimated $404M.
- Mason Hawkins's ten largest holdings make up 69% of its $15.9B portfolio in Q1 2015.
- Mason Hawkins opened 6 new positions and closed 4 in Q1 2015.
- Mason Hawkins's portfolio value fell 8.4% quarter-over-quarter to $15.9B.
Based on Southeastern Asset Management's 13F filing for Q1 2015, filed 15 May 2015.