Southeastern Asset Management

Q3 2022 13F · by Ross Glotzbach, CEO

As of: Sep 30, 2022
Filed: Nov 14, 2022
US stock: $4.0B · prev $4.7B
Positions: 39 · prev 37
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%

Moves27 since the prior filing

+5.1 pp in · −6.1 pp out

New 3 +4.71 pp
Added 2 +0.43 pp
Trimmed 21 −5.84 pp
Exited 1 −0.26 pp

The book

Focused · behaves like 22 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 21% a year, about 4.8 years per position

Low
Moderate
High

Top 5 positions34% of US stock

LUMN Lumen Technologies, Inc. trimmed−3.51 pp trimmed−3.5110.8%
MAT Mattel, Inc. trimmed−0.97 pp trimmed−0.976.6%
CNX CNX Resources Corporation trimmed+0.44 pp trimmed+0.445.9%
H Hyatt Hotels Corporation trimmed+0.92 pp trimmed+0.925.4%
GE GE Aerospace trimmed+0.51 pp trimmed+0.514.9%

Positions39 in this filing · 1 exited


LUMNLumen Technologies, Inc.	10.75%	58,627,580	$427M	trimmed−5%	−3.51 pp	20 q
MATMattel, Inc.	6.63%	13,910,739	$263M	trimmed−14%	−0.97 pp	21 q
CNXCNX Resources Corporation	5.93%	15,175,463	$236M	trimmed−4%	+0.44 pp	20 q
HHyatt Hotels Corporation	5.43%	2,662,068	$216M	trimmed−8%	+0.92 pp	11 q
GEGE Aerospace	4.91%	3,149,654	$195M	trimmed−4%	+0.51 pp	5 q
AMGAffiliated Managers Group	4.56%	1,618,112	$181M	trimmed−8%	+0.25 pp	17 q
FDXFedEx Corporation	4.44%	1,186,429	$176M	trimmed−13%	−2.11 pp	38 q
WBDWarner Bros. Discovery, Inc. Series A	3.98%	13,739,864	$158M	trimmed−8%	−0.25 pp	2 q
MGMMgm Resorts International	3.97%	5,299,179	$157M	trimmed−4%	+0.59 pp	9 q
LAZLazard, Inc.	3.95%	4,933,862	$157M	trimmed−5%	+0.40 pp	17 q
PPLIPeople Incorporated	3.83%	2,745,346	$152M	trimmed−8%	−0.96 pp	5 q
WTMWhite Mountains Insurance Group Ltd.	3.69%	112,597	$147M	trimmed−10%	+0.39 pp	4 q
GOOGAlphabet Inc. Class C	3.62%	1,496,129	$144M	trimmed−2%	+0.11 pp	2 q
GHCGraham Holdings Company	3.46%	255,418	$137M	trimmed−1%	+0.37 pp	36 q
MSGSMadison Square Garden Sports Corp.	2.81%	817,871	$112M	held	—	6 q
FISVFiserv, Inc.	2.68%	1,137,924	$106M	trimmed−2%	+0.50 pp	4 q
PVHPVH Corp.	2.68%	2,372,213	$106M	added+11%	+0.12 pp	2 q
LBRDKLiberty Broadband Corporation Class C	2.65%	1,427,450	$105M	trimmed−2%	−0.89 pp	4 q
BATRKAtlanta Braves Holdings, Inc. Series C	2.19%	3,163,971	$87M	held	—	9 q
ESRTEmpire State Realty Trust, Inc.	2.18%	13,183,043	$86M	trimmed−7%	+0.07 pp	11 q
HOUSAnywhere Real Estate Inc.	2.16%	10,579,576	$86M	trimmed−7%	−0.20 pp	20 q
DEIDouglas Emmett, Inc.	2.05%	4,551,576	$82M	trimmed−2%	−0.14 pp	8 q
WESTWestrock Coffee Company	2.01%	8,008,000	$80M	new	+2.01 pp	new
WMGWarner Music Group Corp. Class A	1.97%	3,368,500	$78M	new	+1.97 pp	new
OSCROscar Health, Inc.	1.40%	11,146,872	$56M	held	—	4 q
4KSVimeo Inc	1.14%	11,296,320	$45M	held	—	4 q
RNRRenaissanceRe Holdings Ltd.	1.14%	322,037	$45M	trimmed−54%	−1.19 pp	5 q
CNHCnh Industrial N.v.	1.00%	3,565,895	$40M	added+26%	+0.31 pp	33 q
SWKStanley Black & Decker, Inc.	0.88%	462,416	$35M	trimmed−3%	−0.17 pp	2 q
DOORMasonite International Corp	0.73%	404,111	$29M	new	+0.73 pp	new
HTHTH World Group Limited	0.53%	628,496	$21M	held	—	3 q
JOYYJOYY Inc.	0.51%	782,510	$20M	held	—	7 q
CAHCardinal Health, Inc.	0.04%	21,608	$1M	held	—	5 q
LBRDALiberty Broadband Corporation Class A	0.03%	18,519	$1M	held	—	4 q
PAYAPaya Holdings Inc. Class A	0.02%	110,045	$672,000	held	—	3 q
XPOXPO, Inc.	0.02%	16,089	$716,000	held	—	4 q
CMCSAComcast Corp	0.01%	9,531	$280,000	held	—	19 q
MLCOMelco Resorts & Entertainment Limited	0.01%	80,926	$537,000	held	—	10 q
8INSyneos Health, Inc. Class A	0.01%	10,550	$497,000	held	—	3 q
IMKTAIngles Markets Inc	—	−142,580	—	exited	−0.26 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0000807985-22-000025
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet

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