Insights from the Latest 13F Filing Reveal Significant Moves in Q2 2024
Mason Hawkins (Trades, Portfolio), the seasoned Chairman and CEO of Southeastern Asset Management, has been steering the Longleaf Partners Funds since 1975 with a sharp focus on value investing. His investment philosophy centers on acquiring stakes in robust businesses with competent management at prices below their intrinsic value. Typically, Hawkins targets companies trading at 60% or less of their intrinsic value, a strategy that has underpinned his long-standing success in the financial markets.
New Additions to the Portfolio
In the second quarter of 2024, Mason Hawkins (Trades, Portfolio) expanded his portfolio by adding five new stocks. Noteworthy among these are:
- Liberty Live Group (LLYVK, Financial), with 552,140 shares, making up 0.92% of the portfolio and valued at $21.13 million.
- Dole PLC (DOLE, Financial), comprising 1,627,704 shares, which represent about 0.87% of the portfolio, with a total value of $19.92 million.
- Howard Hughes Holdings Inc (HHH, Financial), holding 319,813 shares, accounting for 0.86% of the portfolio and valued at $19.84 million.
Significant Increases in Existing Positions
Mason Hawkins (Trades, Portfolio) also made notable increases in several existing investments during this period:
- Melco Resorts and Entertainment Ltd (MLCO, Financial) saw an addition of 5,991,333 shares, bringing the total to 6,081,603 shares. This represents a staggering 6,637.13% increase in share count, impacting the portfolio by 1.95%, and valued at $45.37 million.
- PVH Corp (PVH, Financial) increased by 207,408 shares, bringing the total to 522,158 shares. This adjustment marks a 65.9% increase in share count, with a total value of $55.28 million.
Complete Exits from Positions
During the second quarter of 2024, Mason Hawkins (Trades, Portfolio) decided to exit completely from two holdings:
- Liberty Broadband Corp (LBRDK, Financial), where all 944,340 shares were sold, resulting in a -2.08% impact on the portfolio.
- Douglas Emmett Inc (DEI, Financial), with all 1,331,344 shares liquidated, causing a -0.71% impact on the portfolio.
Reductions in Key Holdings
Furthermore, Hawkins reduced his stakes in several companies:
- CNX Resources Corp (CNX, Financial) was reduced by 1,849,703 shares, leading to a -20.43% decrease in shares and a -1.69% impact on the portfolio. The stock traded at an average price of $24.41 during the quarter and has returned 9.20% over the past three months and 32.08% year-to-date.
- Live Nation Entertainment Inc (LYV, Financial) saw a reduction of 264,114 shares, resulting in a -22.64% reduction in shares and a -1.07% impact on the portfolio. The stock traded at an average price of $94.54 during the quarter and has returned -2.95% over the past three months and -0.64% year-to-date.
Portfolio Overview and Sector Allocation
As of the second quarter of 2024, Mason Hawkins (Trades, Portfolio)'s portfolio included 47 stocks. The top holdings were 7.63% in CNX Resources Corp (CNX), 6.67% in FedEx Corp (FDX, Financial), 5.81% in Mattel Inc (MAT, Financial), 5.41% in Affiliated Managers Group Inc (AMG, Financial), and 5.02% in Fidelity National Information Services Inc (FIS, Financial). The investments are predominantly concentrated in nine of the eleven industries, including Consumer Cyclical, Communication Services, and Financial Services among others.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
