13F
中
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SOUTHEASTERN ASSET MANAGEMENT INC/TN/

13F equity value
$2.0B
Positions
49
Top 10 concentration
62.7%
Quarters / total new picks
27 / 71
13F equity value over time
$0M$4B$9B2017201820192020202120222023202420252026

"13F equity value" = market value of this filer's US-listed long equity positions only. It excludes cash, bonds, non-US and short positions, so it understates a fund's true assets under management — often by a lot.

Not significant Verdict

13F holdings are disclosed ~45 days after quarter-end, and they never reveal when within the quarter a fund actually bought. So any 13F-based summary is structurally late and blurred — this applies to every fund, including this one.

We backtested copying it anyway. Buying this fund's new positions the day each filing went public, over 27 quarters, returned +2.8% per quarter — versus +3.5% per quarter from simply owning every 13F stock. It beat that baseline in only 44.4% of quarters (excess t = -1.20, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
-3.6%
t-stat
-1.20
Quarterly win rate
44%
Annualized excess
-5.9%
$1 → follow vs universe
$1.57 vs $2.26
Cumulative return: $1 invested in new picks vs universe
1.00 20180331: universe 1.04120180930: universe 1.08920181231: universe 1.07720190630: universe 1.15820191231: universe 0.93420200331: universe 1.12620200630: universe 1.24420200930: universe 1.52620201231: universe 1.59520210331: universe 1.60920210630: universe 1.73820210930: universe 1.56020211231: universe 1.32820220331: universe 1.42620220630: universe 1.32120220930: universe 1.41920230331: universe 1.49520230630: universe 1.44120230930: universe 1.63620231231: universe 1.70920240630: universe 1.86420240930: universe 1.84820241231: universe 1.72520250331: universe 1.88020250630: universe 1.93920250930: universe 2.18120251231: universe 2.256 20180331: follow 1.04420180930: follow 1.12020181231: follow 0.97420190630: follow 1.36620191231: follow 1.22520200331: follow 1.16420200630: follow 1.07820200930: follow 1.29720201231: follow 1.46120210331: follow 1.25320210630: follow 1.54720210930: follow 1.56220211231: follow 1.25820220331: follow 1.68020220630: follow 1.34920220930: follow 1.60820230331: follow 1.69020230630: follow 1.55020230930: follow 1.74320231231: follow 1.69020240630: follow 1.90020240930: follow 2.02820241231: follow 1.96420250331: follow 2.11620250630: follow 1.77520250930: follow 1.83320251231: follow 1.569 0.86 1.65 2.44 20182019202020212022202320242025 Follow Universe

Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)

Listed as facts. See the verdict above before treating this as signal.

Top 20 holdings of 49 · 2026 Q1

Ticker Value Weight QoQ
RYN $222M
10.9%
ADD
MAT $186M
9.2%
ADD
PPLI $161M
7.9%
HOLD
CNX $155M
7.6%
TRIM
ACI $126M
6.2%
ADD
REGN $101M
5.0%
TRIM
KHC $89M
4.4%
TRIM
FDX $88M
4.3%
TRIM
FBIN $84M
4.1%
ADD
MGM $62M
3.0%
TRIM
PVH $51M
2.5%
HOLD
GLIBK $49M
2.4%
HOLD
TRIP $49M
2.4%
ADD
BIO $45M
2.2%
TRIM
SHEN $45M
2.2%
HOLD
WTM $41M
2.0%
TRIM
CNH $41M
2.0%
HOLD
GHC $40M
2.0%
ADD
FIS $39M
1.9%
ADD
ESRT $34M
1.7%
ADD

QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.

Listed as facts. See the verdict above before treating this as signal.

New positions in 2026 Q1

None.

Method & Limitations

Method: a "new position" = held this quarter, absent last quarter (options excluded; stocks with <50 prior holders excluded to filter spin-off artifacts). Entry 47 days after quarter-end — the first day the public could act on the filing. Benchmark = equal-weighted universe of all 13F-held stocks. Limitations: quarterly snapshots can't see intra-quarter trades; survivorship bias — funds that shut down are absent, which flatters the sample. Statistics, not advice.