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 |
VMEO
Vimeo
VMEO
|
+$108M |
| 2 |
White Mountains Insurance
WTM
|
+$77.4M |
| 3 |
PPLI
People Inc
PPLI
|
+$71M |
| 4 |
FISV
Fiserv Inc
FISV
|
+$43.7M |
| 5 |
Affiliated Managers Group
AMG
|
+$34.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Williams Companies
WMB
|
+$155M |
| 2 |
Mattel
MAT
|
+$93M |
| 3 |
CNX Resources
CNX
|
+$78.7M |
| 4 |
Hyatt Hotels
H
|
+$76.8M |
| 5 |
GE Aerospace
GE
|
+$23.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 29.9% |
| 2 | Consumer Discretionary | 14.93% |
| 3 | Industrials | 14.34% |
| 4 | Financials | 12.8% |
| 5 | Energy | 9.6% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Lumen
LUMN
$6.13B
| $704M | 12.45% |
62,507,658
-1,945,424
| -3% | -$22.3M |
|
|
2
CNX Resources
CNX
$5.38B
| $471M | 8.33% |
22,734,443
-4,727,768
| -17% | -$78.7M |
|
|
3
Mattel
MAT
$4.15B
| $359M | 6.35% |
16,163,120
-4,065,220
| -20% | -$93M |
|
4
FedEx
FDX
$76.9B
| $321M | 5.68% |
1,388,536
-58,788
| -4% | -$13.8M |
|
|
DISCK
5
DELISTED
Discovery, Inc. Series C Common Stock
DISCK
| $298M | 5.27% |
11,942,540
-544,104
| -4% | -$14.8M |
|
|
6
GE Aerospace
GE
$361B
| $267M | 4.72% |
4,685,531
-401,142
| -8% | -$23.9M |
|
|
PPLI
7
People Inc
PPLI
$2.86B
| $259M | 4.58% |
3,150,061
+731,191
| +30% | +$71M |
|
|
8
Affiliated Managers Group
AMG
$9.21B
| $250M | 4.42% |
1,775,230
+238,069
| +15% | +$34.2M |
|
9
MGM Resorts International
MGM
$11B
| $240M | 4.23% |
5,711,509
-135,120
| -2% | -$5.81M |
|
|
10
Hyatt Hotels
H
$17B
| $233M | 4.11% |
2,439,085
-818,474
| -25% | -$76.8M |
|
11
Lazard
LAZ
$4.3B
| $182M | 3.22% |
5,285,803
-494,069
| -9% | -$19.1M |
|
12
Biogen
BIIB
$32B
| $178M | 3.14% |
842,962
-15,561
| -2% | -$3.38M |
|
13
Douglas Emmett
DEI
$1.97B
| $176M | 3.1% |
5,253,455
-120,629
| -2% | -$3.96M |
|
14
Graham Holdings Company
GHC
$4.94B
| $175M | 3.09% |
285,798
-14,070
| -5% | -$8.44M |
|
|
HOUS
15
DELISTED
Anywhere Real Estate
HOUS
| $166M | 2.93% |
10,579,576
-1,327,344
| -11% | -$22.2M |
|
16
Madison Square Garden
MSGS
$9.78B
| $162M | 2.86% |
903,334
-23,742
| -3% | -$4.04M |
|
17
RenaissanceRe
RNR
$13.4B
| $149M | 2.63% |
939,292
-123,338
| -12% | -$19.2M |
|
18
Empire State Realty Trust
ESRT
$834M
| $145M | 2.57% |
14,796,675
-395,908
| -3% | -$3.73M |
|
|
19
White Mountains Insurance
WTM
$5.04B
| $143M | 2.52% |
125,503
+73,901
| +143% | +$77.4M |
|
|
LBRDK
20
DELISTED
Liberty Broadband Class C
LBRDK
| $137M | 2.43% |
1,015,948
+154,628
| +18% | +$22.5M |
|
|
VMEO
21
DELISTED
Vimeo
VMEO
| $134M | 2.37% |
11,296,320
+8,090,173
| +252% | +$108M |
|
|
FISV
22
Fiserv Inc
FISV
$28B
| $118M | 2.09% |
1,164,661
+432,235
| +59% | +$43.7M |
|
23
Oscar Health
OSCR
$9.89B
| $111M | 1.96% |
11,146,872
+2,037,050
| +22% | +$15.2M |
|
24
Atlanta Braves Holdings Series B
BATRK
$3.33B
| $95.8M | 1.69% |
3,433,926
| – | – |
|
|
25
Williams Companies
WMB
$86.2B
| $72.3M | 1.28% |
2,164,165
-5,083,271
| -70% | -$155M |
|
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Mason Hawkins's Q1 2022 Portfolio in Review
As of Q1 2022, Mason Hawkins held 38 positions worth $5.66B, down 5.1% from $5.96B the previous quarter. Its ten largest holdings account for 60% of the portfolio.
Mason Hawkins withdrew a net $178M in Q1 2022, closing 1 position and reducing 18 holdings. Its most notable exit was Alibaba, an estimated $2.64M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 30% of assets, down from 30% a quarter earlier, followed by Consumer Discretionary and Industrials.
Against the trend, Mason Hawkins opened a new position in Huazhu Hotels Group worth $3.8M.
- Mason Hawkins's largest Q1 2022 buy was Huazhu Hotels Group: 115,238 shares worth $3.8M.
- Mason Hawkins added most to Vimeo in Q1 2022, an estimated $108M increase.
- Mason Hawkins's biggest Q1 2022 reduction was Williams Companies, cutting an estimated $155M.
- Mason Hawkins fully exited Alibaba in Q1 2022, selling an estimated $2.64M.
- Mason Hawkins's ten largest holdings make up 60% of its $5.66B portfolio in Q1 2022.
- Mason Hawkins opened 3 new positions and closed 1 in Q1 2022.
- Mason Hawkins's portfolio value fell 5.1% quarter-over-quarter to $5.66B.
Based on Southeastern Asset Management's 13F filing for Q1 2022, filed 16 May 2022.