Home Business Southeastern Boosts Stake In Chesapeake, Dell; Sells AIG, Microsoft

Southeastern Boosts Stake In Chesapeake, Dell; Sells AIG, Microsoft

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The market value of the total stockholdings of Southeastern Asset Management, the investment management firm headed by Mason Hawkins, declined in the first quarter of fiscal 2013  by nearly $1 billion to approximately $22.245 billion, based on its 13f filing with the Securities and Exchanges Commission (SEC). During the previous quarter, its portfolio’s market value was around $23.065 billion.


During the quarter, Southeastern Asset Management did not purchase any new stock but it did increase its stockholdings in seven equities. The investment management firm also reduced its stake in 25 companies, and sold out its position in nine stocks. Its top ten stockholdings represent 64.51 percent of its portfolio.

Southeastern Top Five Stockholdings

Southeastern Asset Management’s five largest stockholdings in the first quarter of 2013 include Chesapeake Energy Corporation (NYSE:CHK) which accounts for 8.21 percent of its portfolio, Dell Inc (NASDAQ:DELL) 7.82 percent, Loews Corporation (NYSE:L) 7.43 percent, DIRECTV (NASDAQ:DTV) 7.34 percent, and Fedex Corporation (NYSE:FDX) 7.33 percent.

Increased Positions

During this period, the investment management firm increased its stake in Chesapeake Energy Corporation (NYSE:CHK) by more than 3.9 million shares, bringing its total stockholdings in the energy company to over 89.4 million shares worth approximately $1.82 billion.

Southeastern Asset Management bought more than 3 million shares of DIRECTV (NASDAQ:DTV). Its total position in the satellite television service provider is more than 28.86 million with approximately $1.63 billion market value.

The investment management firm also boosted its stake in Mondelez International Inc (NASDAQ:MDLZ) by more than 5 million shares to over 39.5 million shares. Its position in the company is worth over $1.21 billion.  It also bought more than 2.5 million shares of Legg Mason Inc (NYSE:LM) making its total stake in the company over 5.2 million shares with approximately $167.65 million market value.

Southeastern Asset Management also acquired more than 4.36 million shares of Murphy Oil Corporation (NYSE:MUR) and 406,607 shares of CNH Global NV (NYSE:CNH). Its total stockholdings in both companies were more than 10 million shares worth approximately $667.97 million and over 1.89 million shares worth $78.1 million, respectively.

Reduced Stockholdings

Southeastern Asset Management significantly cut its stake in Cemex SAB de CV (NYSE:CX) by more than 28.3 million shares to 51.73 million shares. Its remaining stockholdings in the company has more than $631.6 million market value.

The investment management firm also reduced its position in Service Corporation International (NYSE:SCI) by more than 10 million shares to 14.4 million worth over $241.3 million. It also dumped more than 3.6 million shares of Martin Marietta Materials (NYSE;MLM) and over 3.6 million shares of Madison Square Garden (NASDAQ:MSG). Its remaining stakes in the two companies are worth approximately $220 million and $76.5 million respectively.

Southeastern Asset Management also reduced its stake in Vulcan Materials Company (NYSELVMC) by more than 2.5 million shares, The Travelers Companies (NYSE:TRV) by more than 1.3 million shares, and Dell Inc (NASDAQ:DELL) by over 1.9 million shares among others.

Sold Out Positions

Southeastern Asset Management sold out its entire stake in AbbVie Inc (NYSE:ABBV), American International Group (NYSE:AIG), Franklin Resources (NYSE:BEN), Walt Disney Company (NYSE:DIS), General Motors Company (NYSE:GM), and Microsoft Corporation (NASDAQ:MSFT) etc.

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