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 |
CNX Resources
CNX
|
+$94.6M |
| 2 |
Viasat
VSAT
|
+$47.6M |
| 3 |
SONC
Sonic Corp
SONC
|
+$45.2M |
| 4 |
T. Rowe Price
TROW
|
+$35.1M |
| 5 |
Yum China
YUMC
|
+$21.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
DD
Du Pont De Nemours E I
DD
|
+$259M |
| 2 |
Ralph Lauren
RL
|
+$257M |
| 3 |
Rayonier
RYN
|
+$180M |
| 4 |
SNI
Scripps Networks Interactive, Inc Common Class A
SNI
|
+$179M |
| 5 |
Wynn Resorts
WYNN
|
+$109M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 43.13% |
| 2 | Communication Services | 17.86% |
| 3 | Consumer Discretionary | 16.49% |
| 4 | Energy | 11.6% |
| 5 | Financials | 5.77% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
LVLT
1
DELISTED
Level 3 Communications Inc
LVLT
| $1.59B | 16.16% |
27,779,930
-175,922
| -0.6% | -$10.2M |
|
|
2
Wynn Resorts
WYNN
$10.3B
| $1.13B | 11.48% |
9,858,937
-1,093,024
| -10% | -$109M |
|
3
FedEx
FDX
$76.9B
| $1.1B | 11.16% |
5,625,486
-49,010
| -0.9% | -$9.36M |
|
|
4
CNX Resources
CNX
$5.38B
| $847M | 8.61% |
60,570,662
+6,713,328
| +12% | +$94.6M |
|
5
Alphabet (Google) Class C
GOOG
$4.18T
| $773M | 7.86% |
18,641,140
-105,220
| -0.6% | -$4.32M |
|
6
RTX Corp
RTX
$283B
| $637M | 6.47% |
9,017,654
-150,315
| -2% | -$10.5M |
|
|
SNI
7
DELISTED
Scripps Networks Interactive, Inc Common Class A
SNI
| $608M | 6.17% |
7,752,387
-2,313,446
| -23% | -$179M |
|
8
Graham Holdings Company
GHC
$4.94B
| $460M | 4.67% |
766,824
-1,547
| -0.2% | -$844K |
|
|
9
Viasat
VSAT
$10.3B
| $339M | 3.45% |
5,312,285
+725,989
| +16% | +$47.6M |
|
|
CHK
10
DELISTED
Chesapeake Energy Corporation
CHK
| $294M | 2.99% |
247,773
-1,240
| -0.5% | -$1.51M |
|
11
Liberty Media Series C
FWONK
$26.3B
| $283M | 2.88% |
8,584,962
| – | – |
|
|
12
T. Rowe Price
TROW
$23.8B
| $274M | 2.79% |
4,021,627
+494,613
| +14% | +$35.1M |
|
|
13
Yum China
YUMC
$16.9B
| $268M | 2.72% |
9,838,013
+793,223
| +9% | +$21.2M |
|
|
CNH
14
CNH Industrial
CNH
$19.1B
| $242M | 2.46% |
28,875,018
-8,916,904
| -24% | -$72.6M |
|
15
Everest Group
EG
$14.2B
| $193M | 1.96% |
824,584
-193,159
| -19% | -$44.1M |
|
|
SONC
16
DELISTED
Sonic Corp
SONC
| $163M | 1.66% |
6,440,979
+1,789,859
| +38% | +$45.2M |
|
17
Enerpac Tool Group
EPAC
$1.9B
| $156M | 1.59% |
5,918,924
| – | – |
|
|
DEL
18
DELISTED
Deltic Timber
DEL
| $143M | 1.45% |
1,827,558
| – | – |
|
19
Franklin Templeton, Inc.
BEN
$17.4B
| $101M | 1.03% |
2,395,550
-15,003
| -0.6% | -$623K |
|
20
Baidu
BIDU
$31.6B
| $75M | 0.76% |
434,992
+9,919
| +2% | +$1.75M |
|
|
CKH
21
DELISTED
Seacor Holdings Inc.
CKH
| $54.5M | 0.55% |
813,932
-103,618
| -11% | -$7.08M |
|
22
Melco Resorts & Entertainment
MLCO
$2.09B
| $27.9M | 0.28% |
1,504,392
-1,543,584
| -51% | -$26.5M |
|
|
DD
23
DELISTED
Du Pont De Nemours E I
DD
| $24.4M | 0.25% |
304,060
-3,332,142
| -92% | -$259M |
|
24
Liberty Media Series A
FWONA
$24.2B
| $18.2M | 0.19% |
582,159
| – | – |
|
25
Vipshop
VIPS
$6.98B
| $13.8M | 0.14% |
1,037,304
+255,542
| +33% | +$3.16M |
|
Similar funds
Mason Hawkins's Q1 2017 Portfolio in Review
As of Q1 2017, Mason Hawkins held 31 positions worth $9.84B, down 5.1% from $10.4B the previous quarter. Its ten largest holdings account for 79% of the portfolio.
Mason Hawkins withdrew a net $1.02B in Q1 2017, closing 2 positions and reducing 15 holdings. Its most notable exit was Rayonier, an estimated $180M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 43% of assets, up from 40% a quarter earlier, followed by Communication Services and Consumer Discretionary.
Against the trend, Mason Hawkins opened a new position in Belmond Ltd. worth $6.86M.
- Mason Hawkins's largest Q1 2017 buy was Belmond Ltd.: 566,791 shares worth $6.86M.
- Mason Hawkins added most to CNX Resources in Q1 2017, an estimated $94.6M increase.
- Mason Hawkins's biggest Q1 2017 reduction was Du Pont De Nemours E I, cutting an estimated $259M.
- Mason Hawkins fully exited Rayonier in Q1 2017, selling an estimated $180M.
- Mason Hawkins's ten largest holdings make up 79% of its $9.84B portfolio in Q1 2017.
- Mason Hawkins opened 1 new position and closed 2 in Q1 2017.
- Mason Hawkins's portfolio value fell 5.1% quarter-over-quarter to $9.84B.
Based on Southeastern Asset Management's 13F filing for Q1 2017, filed 15 May 2017.