Mason Hawkins
Southeastern Asset Management
Mason Hawkins (Southeastern Asset Management) discloses a $2.03B portfolio across 49 US-listed positions in the latest 13F filing (2026Q1, filed May 15, 2026). The largest holding is RYN at 10.9% of the book. The biggest move of the quarter: added 90% to the RYN share count (position now $222M). Latticework's clone backtest puts this 13F book at -5.8%/yr vs SPY over 12.0 years.
About Mason Hawkins
Mason Hawkins founded Southeastern Asset Management in Memphis in 1975 and has run it on a consistent framework for five decades: concentrated, long-only equity in businesses trading at a meaningful discount to his estimate of intrinsic value, with a willingness to hold for years and engage management when necessary. The current 13F reflects that discipline — 49 positions, top-5 at 42%, with names like Rayonier (RYN), Mattel (MAT), and IAC representing the kind of out-of-favor, asset-heavy or misunderstood businesses Southeastern targets. Hawkins is most associated with the Longleaf Partners funds, whose long-term record established him as a canonical figure in domestic value investing, though the strategy has faced persistent headwinds during growth-dominated markets; the backtest here shows roughly -5.8% annual excess return versus SPY over twelve years. The 13F captures the book well — Southeastern runs long-only domestic equity without the derivatives overlays or short books that would distort a filing read.
2026Q1 brief
Southeastern Asset Management's Mason Hawkins made his boldest moves in timber and toys this quarter, nearly doubling RYN (Rayonier, +90% to 10.9%) and adding ~50% to MAT (Mattel, now 9.2%) — together these two positions absorb a fifth of his $2.03B book, reflecting deep conviction in hard-asset REIT optionality and a beaten-down consumer brand trading well below Hawkins' estimate of intrinsic value. FBIN (Fortune Brands Innovations) surged +83% to 4.1%, and TRIP jumped +62% to 2.4%, suggesting Hawkins is leaning into housing-adjacent and travel-recovery stories simultaneously. The meaningful exits are equally telling: PCH (PotlatchDeltic, previously 5.6%) was fully sold — an interesting rotation out of one timber REIT into another (RYN) — while DIS (1.6%) and LPX (0.98%) were also liquidated. ACMR was slashed 53% and REGN trimmed 21%, reducing biotech exposure. The portfolio's deep-value, concentrated character (49 positions, top 5 at 41.8%) remains intact. Watch whether IAC (7.9%, #3 position) sees any reduction given ongoing asset-divestitures at the holding company.
AI-generated. Not investment advice.
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Holdings (49) · click any column to sort
| #↑ | Ticker | Issuer | % Port. | This Q | History | Value |
|---|---|---|---|---|---|---|
| 1 | RYN | 10.9% | $222M | |||
| 2 | MAT | 9.2% | $186M | |||
| 3 | IAC | 7.9% | $161M | |||
| 4 | CNX | 7.6% | $155M | |||
| 5 | ACI | 6.2% | $126M | |||
| 6 | REGN | 5.0% | $101M | |||
| 7 | KHC | 4.4% | $89M | |||
| 8 | FDX | 4.3% | $88M | |||
| 9 | FBIN | 4.1% | $84M | |||
| 10 | MGM | 3.0% | $62M | |||
| 11 | PVH | 2.5% | $51M | |||
| 12 | GLIBK | 2.4% | $49M | |||
| 13 | TRIP | 2.4% | $49M | |||
| 14 | BIO | 2.2% | $45M | |||
| 15 | SHEN | 2.2% | $45M | |||
| 16 | G9618E107 | 2.0% | $41M | |||
| 17 | CNH | 2.0% | $41M | |||
| 18 | GHC | 2.0% | $40M | |||
| 19 | FIS | 1.9% | $39M | |||
| 20 | ESRT | 1.7% | $34M | |||
| 21 | ACMR | 1.5% | $31M | |||
| 22 | EDU | 1.5% | $30M | |||
| 23 | BATRK | 1.4% | $29M | |||
| 24 | DOLE | 1.4% | $28M | |||
| 25 | AVTR | 1.4% | $28M | |||
| 26 | SAM | 1.3% | $27M | |||
| 27 | G8068L108 | 1.3% | $27M | |||
| 28 | N5505D105 | 1.2% | $24M | |||
| 29 | ALX | 1.1% | $23M | |||
| 30 | CLW | 1.1% | $22M | |||
| 31 | KSPI | 0.9% | $18M | |||
| 32 | HTHT | 0.6% | $12M | |||
| 33 | MLCO | 0.5% | $10M | |||
| 34 | GLIBA | 0.1% | $3M | |||
| 35 | CAH | 0.1% | $2M | |||
| 36 | AMG | 0.1% | $2M | |||
| 37 | LYV | 0.1% | $1M | |||
| 38 | HSIC | 0.1% | $1M | |||
| 39 | XPO | 0.1% | $1M | |||
| 40 | H | 0.1% | $1M | |||
| 41 | MSGS | 0.1% | $1M | |||
| 42 | PYPL | 0.1% | $1M | |||
| 43 | ENOV | 0.1% | $1M | |||
| 44 | LAZ | <0.1% | $790K | |||
| 45 | RXO | <0.1% | $639K | |||
| 46 | STZ | <0.1% | $549K | |||
| 47 | G21810109 | <0.1% | $308K | |||
| 48 | HDB | <0.1% | $260K | |||
| 49 | FISV | <0.1% | $223K |
- 1RYNport10.9%val$222MRayonier Incthis Q +90%·6q
- 2MATport9.2%val$186MMattel Incthis Q +49%·35q
- 3IACport7.9%val$161MIac Incthis Q hold·19q
- 4CNXport7.6%val$155MCnx Resources Corpthis Q hold·34q
- 5ACIport6.2%val$126MAlbertsons Cos Inc - Class Athis Q +20%·7q
- 6REGNport5.0%val$101MRegeneron Pharmaceuticalsthis Q -21%·5q
- 7KHCport4.4%val$89MKraft Heinz Co/thethis Q hold·6q
- 8FDXport4.3%val$88MFedex Corpthis Q -31%·40q
- 9FBINport4.1%val$84MFortune Brands Innovations Ithis Q +83%·8q
- 10MGMport3.0%val$62MMgm Resorts Internationalthis Q hold·23q
- 11PVHport2.5%val$51MPvh Corpthis Q hold·16q
- 12GLIBKport2.4%val$49MGci Liberty Inc-cl Cthis Q hold·3q
- 13TRIPport2.4%val$49MTripadvisor Incthis Q +62%·5q
- 14BIOport2.2%val$45MBio-rad Laboratories-athis Q -28%·12q
- 15SHENport2.2%val$45MShenandoah Telecommunicationthis Q hold·5q
- 16G9618E107port2.0%val$41MWhite Mtns Ins Group Ltdthis Q -40%·18q
- 17CNHport2.0%val$41MCnh Indl N Vthis Q hold·40q
- 18GHCport2.0%val$40MGraham Holdings Co-class Bthis Q hold·40q
- 19FISport1.9%val$39MFidelity National Info Servthis Q +33%·13q
- 20ESRTport1.7%val$34MEmpire State Realty Trust-athis Q +75%·25q
- 21ACMRport1.5%val$31MAcm Research Inc-class Athis Q -53%·4q
- 22EDUport1.5%val$30MNew Oriental Educatio-sp Adrthis Q +38%·2q
- 23BATRKport1.4%val$29MAtlanta Braves Holdings In-cthis Q hold·11q
- 24DOLEport1.4%val$28MDole Plcthis Q hold·8q
- 25AVTRport1.4%val$28MAvantor Incthis Q hold·3q
- 26SAMport1.3%val$27MBoston Beer Company Inc-athis Q -20%·13q
- 27G8068L108port1.3%val$27MSharkninja Incthis Q hold·11q
- 28N5505D105port1.2%val$24MMagnum Ice Cream CO NVthis Q hold·2q
- 29ALXport1.1%val$23MAlexander's Incthis Q hold·4q
- 30CLWport1.1%val$22MClearwater Paper Corpthis Q hold·4q
- 31KSPIport0.9%val$18MJsc Kaspi.kz Adrthis Q hold·4q
- 32HTHTport0.6%val$12MH World Group Ltd-adrthis Q hold·17q
- 33MLCOport0.5%val$10MMelco Resorts & Entert-adrthis Q hold·32q
- 34GLIBAport0.1%val$3MGci Liberty Inc-cl Athis Q hold·3q
- 35CAHport0.1%val$2MCardinal Health Incthis Q hold·19q
- 36AMGport0.1%val$2MAffiliated Managers Groupthis Q hold·31q
- 37LYVport0.1%val$1MLive Nation Entertainment INthis Q hold·13q
- 38HSICport0.1%val$1MHenry Schein Incthis Q hold·7q
- 39XPOport0.1%val$1MXpo Incthis Q -51%·18q
- 40Hport0.1%val$1MHyatt Hotels Corp - CL Athis Q hold·25q
- 41MSGSport0.1%val$1MMadison Square Garden Sportsthis Q hold·20q
- 42PYPLport0.1%val$1MPaypal Holdings Incthis Q -96%·11q
- 43ENOVport0.1%val$1MEnovis Corpthis Q hold·10q
- 44LAZport<0.1%val$790KLazard Incthis Q hold·9q
- 45RXOport<0.1%val$639KRxo Incthis Q hold·14q
- 46STZport<0.1%val$549KConstellation Brands Inc-athis Q hold·3q
- 47G21810109port<0.1%val$308KClarivate Plcthis Q hold·3q
- 48HDBport<0.1%val$260KHdfc Bank Ltd-adrthis Q hold·10q
- 49FISVport<0.1%val$223KFiserv Incthis Q hold·13q
All activity (2026Q1)
| Ticker | Issuer | Move | % Port. | Δ Shares | Value |
|---|---|---|---|---|---|
| RYN | Rayonier Inc | ADD | 10.9% | +90% | $222M |
| MAT | Mattel Inc | ADD | 9.2% | +49% | $186M |
| ACI | Albertsons Cos Inc - Class A | ADD | 6.2% | +20% | $126M |
| REGN | Regeneron Pharmaceuticals | TRIM | 5.0% | -21% | $101M |
| PCH | Potlatchdeltic Corp | EXIT | 5.6% | -100% | $0 |
| FDX | Fedex Corp | TRIM | 4.3% | -31% | $88M |
| FBIN | Fortune Brands Innovations I | ADD | 4.1% | +83% | $84M |
| BIO | Bio-rad Laboratories-a | TRIM | 2.2% | -28% | $45M |
| ACMR | Acm Research Inc-class A | TRIM | 1.5% | -53% | $31M |
| G9618E107 | White Mtns Ins Group Ltd | TRIM | 2.0% | -40% | $41M |
| TRIP | Tripadvisor Inc | ADD | 2.4% | +62% | $49M |
| FIS | Fidelity National Info Serv | ADD | 1.9% | +33% | $39M |
| ESRT | Empire State Realty Trust-a | ADD | 1.7% | +75% | $34M |
| DIS | Walt Disney Co/the | EXIT | 1.6% | -100% | $0 |
| EDU | New Oriental Educatio-sp Adr | ADD | 1.5% | +38% | $30M |
| PYPL | Paypal Holdings Inc | TRIM | 0.1% | -96% | $1M |
| SAM | Boston Beer Company Inc-a | TRIM | 1.3% | -20% | $27M |
| LPX | Louisiana-pacific Corp | EXIT | 1.0% | -100% | $0 |
| XPO | Xpo Inc | TRIM | 0.1% | -51% | $1M |
| ACH | Accendra Health Inc | EXIT | <0.1% | -100% | $0 |
- ADDRYN10.9%Rayonier IncΔ +90%·$222M
- ADDMAT9.2%Mattel IncΔ +49%·$186M
- ADDACI6.2%Albertsons Cos Inc - Class AΔ +20%·$126M
- TRIMREGN5.0%Regeneron PharmaceuticalsΔ -21%·$101M
- EXITPCH5.6%Potlatchdeltic CorpΔ -100%·$0
- TRIMFDX4.3%Fedex CorpΔ -31%·$88M
- ADDFBIN4.1%Fortune Brands Innovations IΔ +83%·$84M
- TRIMBIO2.2%Bio-rad Laboratories-aΔ -28%·$45M
- TRIMACMR1.5%Acm Research Inc-class AΔ -53%·$31M
- TRIMG9618E1072.0%White Mtns Ins Group LtdΔ -40%·$41M
- ADDTRIP2.4%Tripadvisor IncΔ +62%·$49M
- ADDFIS1.9%Fidelity National Info ServΔ +33%·$39M
- ADDESRT1.7%Empire State Realty Trust-aΔ +75%·$34M
- EXITDIS1.6%Walt Disney Co/theΔ -100%·$0
- ADDEDU1.5%New Oriental Educatio-sp AdrΔ +38%·$30M
- TRIMPYPL0.1%Paypal Holdings IncΔ -96%·$1M
- TRIMSAM1.3%Boston Beer Company Inc-aΔ -20%·$27M
- EXITLPX1.0%Louisiana-pacific CorpΔ -100%·$0
- TRIMXPO0.1%Xpo IncΔ -51%·$1M
- EXITACH<0.1%Accendra Health IncΔ -100%·$0
Frequently asked questions
- What stocks does Mason Hawkins own?
- As of 2026Q1, Mason Hawkins's 13F discloses 49 positions worth $2.03B. The top five holdings: RYN (10.9%), MAT (9.2%), IAC (7.9%), CNX (7.6%), ACI (6.2%). 13F filings cover long US-listed equities only — cash, bonds, shorts, and non-US positions are not disclosed.
- What did Mason Hawkins buy this quarter?
- In 2026Q1, the filing shows 0 new positions and 8 additions to existing holdings. The largest positions touched by buying: RYN, MAT, ACI, FBIN, TRIP.
- How big is Mason Hawkins's portfolio?
- $2.03B across 49 positions per the latest 13F (filed May 15, 2026). The top five holdings account for 42% of the disclosed book.
Explore more
Long US equity 13F-HR filings only — no shorts, no derivatives. SEC filings at EDGAR (CIK 0000807985). Not investment advice.