Southeastern Asset Management

Q1 2021 13F · by Ross Glotzbach, CEO

As of: Mar 31, 2021
Filed: May 17, 2021
US stock: $4.7B · prev $4.5B
Positions: 24 · prev 25
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves24 since the prior filing

+6.6 pp in · −6.9 pp out

New 3 +6.60 pp
Added 0 0.00 pp
Trimmed 17 +0.20 pp
Exited 4 −7.13 pp

The book

Concentrated · behaves like 14 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 26% a year, about 3.8 years per position

Low
Moderate
High

Top 5 positions46% of US stock

LUMN Lumen Technologies, Inc. trimmed+3.56 pp trimmed+3.5617.7%
CNX CNX Resources Corporation trimmed+0.73 pp trimmed+0.739.3%
MAT Mattel, Inc. trimmed+0.09 pp trimmed+0.096.9%
unresolved General Electric Co trimmed−1.73 pp trimmed−1.736.1%
H Hyatt Hotels Corporation trimmed−0.78 pp trimmed−0.786.0%

Positions24 in this filing · 4 exited


LUMNLumen Technologies, Inc.	17.74%	62,113,933	$829M	trimmed−5%	+3.56 pp	14 q
CNXCNX Resources Corporation	9.29%	29,541,009	$434M	trimmed−17%	+0.73 pp	14 q
MATMattel, Inc.	6.88%	16,147,300	$322M	trimmed−7%	+0.09 pp	15 q
unresolvedGeneral Electric Co	6.08%	21,657,820	$284M	trimmed−33%	−1.73 pp	14 q
HHyatt Hotels Corporation	6.04%	3,413,828	$282M	trimmed−17%	−0.78 pp	5 q
CMCSAComcast Corp	5.39%	4,652,977	$252M	trimmed−4%	−0.29 pp	13 q
FDXFedEx Corporation	5.14%	846,557	$240M	trimmed−4%	+0.01 pp	32 q
MGMMgm Resorts International	4.57%	5,625,364	$214M	trimmed−20%	−0.39 pp	3 q
LAZLazard, Inc.	4.42%	4,748,029	$207M	trimmed−4%	−0.23 pp	11 q
WMBWilliams Companies Inc.	4.19%	8,261,009	$196M	trimmed−9%	+0.13 pp	6 q
AMGAffiliated Managers Group	4.05%	1,270,837	$189M	trimmed−21%	+0.38 pp	11 q
BIIBBiogen Inc.	3.61%	603,890	$169M	new	+3.61 pp	new
BIDUBaidu, Inc.	3.53%	759,328	$165M	trimmed−17%	−0.88 pp	23 q
ESRTEmpire State Realty Trust, Inc.	3.04%	12,778,058	$142M	trimmed−20%	−0.29 pp	5 q
HOUSAnywhere Real Estate Inc.	2.83%	8,758,983	$133M	held	—	14 q
DEIDouglas Emmett, Inc.	2.68%	3,994,349	$125M	trimmed−3%	−0.02 pp	2 q
GHCGraham Holdings Company	2.50%	208,018	$117M	trimmed−6%	−0.14 pp	30 q
EGEverest Group, Ltd.	2.13%	401,202	$99M	trimmed−1%	+0.02 pp	3 q
BABAAlibaba Group Holding Limited	1.73%	357,571	$81M	new	+1.73 pp	new
BATRKAtlanta Braves Holdings, Inc. Series C	1.55%	2,606,269	$73M	held	—	3 q
JOYYJOYY Inc.	1.26%	626,472	$59M	new	+1.26 pp	new
CNHCnh Industrial N.v.	0.89%	2,657,754	$42M	trimmed−11%	+0.03 pp	27 q
KODKEastman Kodak Company	0.43%	2,534,892	$20M	held	—	19 q
MLCOMelco Resorts & Entertainment Limited	0.03%	66,723	$1M	held	—	4 q
DDDuPont de Nemours, Inc.	—	−2,599,162	—	exited	−4.13 pp	—
PCHPotlatchDeltic Corporation	—	−1,387,349	—	exited	−1.55 pp	—
TCOMTrip.com Group Limited	—	−1,250,835	—	exited	−0.94 pp	—
LM05Liberty Media Corp-liberty-a	—	−599,859	—	exited	−0.51 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 1 unresolved
Accession: 0000807985-21-000012
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet

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