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 |
Lazard
LAZ
|
+$61.6M |
| 2 |
FedEx
FDX
|
+$48.5M |
| 3 |
Baidu
BIDU
|
+$42M |
| 4 |
Lumen
LUMN
|
+$40.4M |
| 5 |
HOUS
Anywhere Real Estate
HOUS
|
+$12.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Yum China
YUMC
|
+$168M |
| 2 |
DuPont de Nemours
DD
|
+$129M |
| 3 |
Graham Holdings Company
GHC
|
+$92M |
| 4 |
Viasat
VSAT
|
+$91.2M |
| 5 |
GE Aerospace
GE
|
+$72.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 28.94% |
| 2 | Communication Services | 28.56% |
| 3 | Consumer Discretionary | 10.37% |
| 4 | Real Estate | 9.76% |
| 5 | Energy | 7.32% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Lumen
LUMN
$6.13B
| $806M | 11.63% |
67,263,601
+2,907,820
| +5% | +$40.4M |
|
|
2
GE Aerospace
GE
$361B
| $557M | 8.04% |
11,190,201
-1,531,717
| -12% | -$72.1M |
|
|
3
FedEx
FDX
$76.9B
| $529M | 7.63% |
2,916,717
+274,350
| +10% | +$48.5M |
|
4
CNX Resources
CNX
$5.38B
| $507M | 7.31% |
47,048,157
-1,973,538
| -4% | -$22.3M |
|
5
Mattel
MAT
$4.15B
| $466M | 6.72% |
35,835,664
-4,011,876
| -10% | -$53.6M |
|
6
Park Hotels & Resorts
PK
$3.18B
| $384M | 5.54% |
12,348,011
-1,538,658
| -11% | -$46M |
|
7
Alphabet (Google) Class C
GOOG
$4.18T
| $359M | 5.18% |
6,122,060
-934,260
| -13% | -$52.4M |
|
|
8
Graham Holdings Company
GHC
$4.94B
| $350M | 5.05% |
512,901
-137,208
| -21% | -$92M |
|
9
Comcast
CMCSA
$95.3B
| $319M | 4.61% |
7,989,074
-487,685
| -6% | -$18.4M |
|
10
RTX Corp
RTX
$283B
| $319M | 4.61% |
3,937,030
-193,359
| -5% | -$14.7M |
|
|
AGN
11
DELISTED
Allergan plc
AGN
| $297M | 4.28% |
2,027,545
-119,837
| -6% | -$17.4M |
|
|
12
Lazard
LAZ
$4.3B
| $208M | 3.01% |
5,766,155
+1,638,939
| +40% | +$61.6M |
|
|
SUM
13
DELISTED
Summit Materials, Inc. Class A Common Stock
SUM
| $203M | 2.93% |
13,038,417
| – | – |
|
|
GLIBA
14
DELISTED
GCI Liberty, Inc. Class A Common Stock (DE)
GLIBA
| $184M | 2.65% |
3,304,960
| – | – |
|
15
Affiliated Managers Group
AMG
$9.21B
| $181M | 2.61% |
1,691,805
-147,811
| -8% | -$15.7M |
|
16
Wynn Resorts
WYNN
$10.3B
| $178M | 2.57% |
1,490,854
-205,033
| -12% | -$24.5M |
|
|
PCH
17
DELISTED
PotlatchDeltic
PCH
| $175M | 2.52% |
4,629,363
| – | – |
|
|
18
Viasat
VSAT
$10.3B
| $154M | 2.22% |
1,984,870
-1,310,204
| -40% | -$91.2M |
|
19
Enerpac Tool Group
EPAC
$1.9B
| $144M | 2.07% |
5,900,024
| – | – |
|
|
20
Baidu
BIDU
$31.6B
| $134M | 1.93% |
810,655
+250,772
| +45% | +$42M |
|
|
HOUS
21
DELISTED
Anywhere Real Estate
HOUS
| $118M | 1.7% |
10,318,816
+803,203
| +8% | +$12.4M |
|
22
Liberty Media Series C
FWONK
$26.3B
| $97.4M | 1.4% |
2,873,540
-1,904,579
| -40% | -$59.7M |
|
|
CNH
23
CNH Industrial
CNH
$19.1B
| $92.1M | 1.33% |
10,379,423
-1,761,468
| -15% | -$15.8M |
|
24
Liberty Media Series A
FWONA
$24.2B
| $79.8M | 1.15% |
2,447,204
| – | – |
|
|
25
Yum China
YUMC
$16.9B
| $45.5M | 0.66% |
1,013,378
-4,263,777
| -81% | -$168M |
|
Similar funds
Mason Hawkins's Q1 2019 Portfolio in Review
As of Q1 2019, Mason Hawkins held 33 positions worth $6.93B, down 1.1% from $7.01B the previous quarter. Its ten largest holdings account for 66% of the portfolio.
Mason Hawkins withdrew a net $733M in Q1 2019, closing 3 positions and reducing 17 holdings. Its most notable exit was DuPont de Nemours, an estimated $129M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 29% of assets, up from 26% a quarter earlier, followed by Communication Services and Consumer Discretionary.
Against the trend, Mason Hawkins added an estimated $61.6M to Lazard.
- Mason Hawkins added most to Lazard in Q1 2019, an estimated $61.6M increase.
- Mason Hawkins's biggest Q1 2019 reduction was Yum China, cutting an estimated $168M.
- Mason Hawkins fully exited DuPont de Nemours in Q1 2019, selling an estimated $129M.
- Mason Hawkins's ten largest holdings make up 66% of its $6.93B portfolio in Q1 2019.
- Mason Hawkins opened 0 new positions and closed 3 in Q1 2019.
- Mason Hawkins's portfolio value fell 1.1% quarter-over-quarter to $6.93B.
Based on Southeastern Asset Management's 13F filing for Q1 2019, filed 15 May 2019.