Southeastern Asset Management

Q2 2025 13F · by Ross Glotzbach, CEO

As of: Jun 30, 2025
Filed: Aug 14, 2025
US stock: $2.0B · prev $1.9B
Positions: 49 · prev 43
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%

Moves44 since the prior filing

+16.5 pp in · −16.1 pp out

New 8 +10.52 pp
Added 13 +5.94 pp
Trimmed 21 −15.19 pp
Exited 2 −0.91 pp

The book

Focused · behaves like 27 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 71% a year, about 1.4 years per position

Low
Moderate
High

Top 5 positions30% of US stock

CNX CNX Resources Corporation trimmed−0.45 pp trimmed−0.457.6%
MAT Mattel, Inc. added+0.10 pp added+0.107.2%
PPLI People Incorporated added−0.49 pp added−0.495.5%
KHC The Kraft Heinz Company added+0.79 pp added+0.794.8%
PVH PVH Corp. added+2.65 pp added+2.654.7%

Positions49 in this filing · 2 exited


CNXCNX Resources Corporation	7.58%	4,462,756	$150M	trimmed−7%	−0.45 pp	31 q
MATMattel, Inc.	7.18%	7,220,265	$142M	added+6%	+0.10 pp	32 q
PPLIPeople Incorporated	5.52%	2,930,980	$109M	added+19%	−0.49 pp	16 q
KHCThe Kraft Heinz Company	4.78%	3,674,261	$95M	added+49%	+0.79 pp	3 q
PVHPVH Corp.	4.74%	1,369,854	$94M	added×2.3	+2.65 pp	13 q
FDXFedEx Corporation	4.35%	379,536	$86M	trimmed−2%	−0.70 pp	49 q
REGNRegeneron Pharmaceuticals Inc	4.25%	160,581	$84M	added+40%	+0.37 pp	2 q
FISFidelity National Information Services, Inc.	3.90%	949,257	$77M	trimmed−27%	−1.27 pp	10 q
BIOBio-Rad Laboratories, Inc.Class A	3.84%	315,285	$76M	trimmed−3%	−0.36 pp	9 q
ACIAlbertsons Companies, Inc.	3.75%	3,462,177	$74M	trimmed−32%	−2.19 pp	4 q
DINOHF Sinclair Corporation	3.63%	1,751,822	$72M	trimmed−34%	−1.05 pp	3 q
MGMMgm Resorts International	3.08%	1,775,104	$61M	trimmed−8%	+0.03 pp	20 q
FBINFortune Brands Innovations, Inc.	2.68%	1,031,315	$53M	new	+2.68 pp	new
SNSharkNinja, Inc.	2.65%	531,660	$53M	trimmed−3%	+0.23 pp	8 q
CNHCnh Industrial N.v.	2.46%	3,761,247	$49M	trimmed−3%	−0.07 pp	44 q
MLCOMelco Resorts & Entertainment Limited	2.33%	6,397,271	$46M	added+26%	+0.91 pp	21 q
HHyatt Hotels Corporation	2.16%	306,492	$43M	trimmed−22%	−0.39 pp	22 q
PYPLPayPal Holdings, Inc.	2.12%	565,860	$42M	trimmed−1%	+0.13 pp	8 q
GHCGraham Holdings Company	2.05%	42,899	$41M	trimmed−22%	−0.77 pp	47 q
TIGOMillicom International Cellular S.A.	1.96%	1,037,634	$39M	trimmed−49%	−1.30 pp	3 q
WTMWhite Mountains Insurance Group Ltd.	1.91%	21,094	$38M	added+14%	+0.01 pp	15 q
PCHPotlatchDeltic Corporation	1.85%	956,247	$37M	added+17%	−0.12 pp	6 q
DISThe Walt Disney Company	1.82%	290,330	$36M	new	+1.82 pp	new
DOLEDole plc	1.73%	2,449,144	$34M	added+4%	−0.08 pp	5 q
TRIPTripAdvisor, Inc.	1.70%	2,590,948	$34M	added+50%	+0.39 pp	2 q
ANGIAngi Inc. Class A	1.59%	2,067,648	$32M	new	+1.59 pp	new
BATRKAtlanta Braves Holdings, Inc. Series C	1.58%	671,014	$31M	trimmed−21%	−0.23 pp	20 q
SHENShenandoah Telecom Co	1.58%	2,288,068	$31M	added×2.5	+0.97 pp	2 q
ACMRACM Research, Inc. Class A	1.55%	1,185,744	$31M	new	+1.55 pp	new
HTHTH World Group Limited	1.53%	896,756	$30M	trimmed−1%	−0.25 pp	14 q
CLWClearwater Paper Corporation	1.29%	937,921	$26M	new	+1.29 pp	new
ESRTEmpire State Realty Trust, Inc.	1.07%	2,630,140	$21M	added+69%	+0.42 pp	22 q
SAMBoston Beer Company	1.02%	106,317	$20M	held	—	10 q
OSCROscar Health, Inc.	0.95%	881,857	$19M	trimmed−58%	−0.52 pp	15 q
KSPIJoint Stock Company Kaspi.kz American Depository Shares	0.81%	188,806	$16M	new	+0.81 pp	new
WESTWestrock Coffee Company	0.77%	2,670,176	$15M	trimmed−45%	−1.11 pp	12 q
ALXAlexander's Inc.	0.72%	63,503	$14M	new	+0.72 pp	new
PKPark Hotels & Resorts Inc.	0.69%	1,337,878	$14M	trimmed−42%	−0.63 pp	8 q
HDBHDFC Bank Limited	0.15%	39,094	$3M	trimmed−17%	−0.02 pp	7 q
LYVLive Nation Entertainment Inc.	0.11%	14,086	$2M	held	—	10 q
XPOXPO, Inc.	0.10%	15,980	$2M	held	—	15 q
CAHCardinal Health, Inc.	0.09%	10,644	$2M	trimmed−39%	−0.04 pp	16 q
HSICHenry Schein Inc	0.08%	20,962	$2M	added+34%	+0.02 pp	4 q
AMGAffiliated Managers Group	0.07%	6,838	$1M	trimmed−99%	−4.23 pp	28 q
ENOVEnovis Corporation	0.06%	36,583	$1M	held	—	7 q
LAZLazard, Inc.	0.06%	22,863	$1M	held	—	28 q
ACHAccendra Health, Inc.	0.06%	125,400	$1M	new	+0.06 pp	new
MSGSMadison Square Garden Sports Corp.	0.04%	4,028	$841,651	held	—	17 q
RXORXO, Inc.	0.04%	53,978	$848,535	held	—	11 q
HHHHoward Hughes Holdings Inc.	—	−217,395	—	exited	−0.86 pp	—
GOOGAlphabet Inc. Class C	—	−6,527	—	exited	−0.05 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0001398344-25-015655
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet

Search