Mason Hawkins – Longleaf Partners Portfolio Activity & Recent Trades (Jun 30, 2025)

As of Jun 30, 2025, the Longleaf Partners portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Aug 14, 2025. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q2 2025, the filing reported:

New Buys – ANGI (00183L201), ACM Research, Inc. (ACMR), Fortune Brands Innovations, Inc (FBIN), Clearwater Paper Corporation (CLW), Walt Disney Company (The) (DIS), and 3 more

Increases – Shenandoah Telecommunications C (SHEN), Melco Resorts & Entertainment L (MLCO), The Kraft Heinz Company (KHC), Empire State Realty Trust, Inc. (ESRT), TripAdvisor, Inc. (TRIP), and 8 more

Reductions – PayPal Holdings, Inc. (PYPL), Cardinal Health, Inc. (CAH), HDFC Bank Limited (HDB), H World Group Limited (HTHT), Bio-Rad Laboratories, Inc. (BIO), and 16 more

Complete Exits – Alphabet Inc. (GOOG), Howard Hughes Holdings Inc. (HHH)

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Longleaf Partners Activity

Date	Symbol	Name	Type	Quantity	Value	Remaining
Q2 2023Jun 30, 2023	KNF Knife Riv Holding Co.	Knife Riv Holding Co.	Buy - Position Entry	+763,372	$33.21M	763,372
Q2 2023Jun 30, 2023	BIO Bio-Rad Laboratories, Inc.	Bio-Rad Laboratories, Inc.	Buy - Position Entry	+325,519	$123.41M	325,519
Q2 2023Jun 30, 2023	CNH CNH Industrial	CNH Industrial	Buy	+285,237+16.9%	$28.37M	1,969,919
Q2 2023Jun 30, 2023	IMKTA Ingles Markets, Incorporated	Ingles Markets, Incorporated	Buy - Position Entry	+268,256	$22.17M	268,256
Q2 2023Jun 30, 2023	FIS Fidelity National Information S	Fidelity National Information S	Buy	+222,967+19.6%	$74.29M	1,358,062
Q2 2023Jun 30, 2023	SAM Boston Beer Company, Inc. (The)	Boston Beer Company, Inc. (The)	Buy	+18,724+17.2%	$39.26M	127,274
Q2 2023Jun 30, 2023	FDX FedEx Corporation	FedEx Corporation	Buy	+8,206+1.3%	$163.74M	660,523
Q2 2023Jun 30, 2023	HAS Hasbro, Inc.	Hasbro, Inc.	Sell	-2,143-0.3%	$43.08M	665,106
Q2 2023Jun 30, 2023	AMG Affiliated Managers Group, Inc.	Affiliated Managers Group, Inc.	Sell	-2,323-0.3%	$138.05M	921,035
Q2 2023Jun 30, 2023	K Kellanova	Kellanova	Sell	-4,716-0.4%	$87.87M	1,303,692
Q2 2023Jun 30, 2023	IAC IAC Inc.	IAC Inc.	Sell	-7,549-0.3%	$160.53M	2,556,175
Q2 2023Jun 30, 2023	HTHT H World Group Limited	H World Group Limited	Sell	-8,440-2.1%	$15.45M	398,353
Q2 2023Jun 30, 2023	G9618E107 White Mountains	White Mountains	Sell	-11,316-21.1%	$58.64M	42,217
Q2 2023Jun 30, 2023	LBRDK Liberty Broadband Corporation	Liberty Broadband Corporation	Sell	-13,011-1.3%	$77.38M	965,962
Q2 2023Jun 30, 2023	GHC Graham Holdings Company	Graham Holdings Company	Sell	-24,207-21.2%	$51.33M	89,828
Q2 2023Jun 30, 2023	WBD Warner Bros. Discovery, Inc. -	Warner Bros. Discovery, Inc. -	Sell	-35,217-0.4%	$123.62M	9,857,887
Q2 2023Jun 30, 2023	MSGS Madison Square Garden Sports Co	Madison Square Garden Sports Co	Sell	-48,233-27.7%	$23.71M	126,109
Q2 2023Jun 30, 2023	FI Fiserv, Inc.	Fiserv, Inc.	Sell	-117,499-15.0%	$83.97M	665,633
Q2 2023Jun 30, 2023	PVH PVH Corp.	PVH Corp.	Sell	-183,665-13.1%	$103.54M	1,218,553
Q2 2023Jun 30, 2023	H Hyatt Hotels Corporation	Hyatt Hotels Corporation	Sell	-273,029-18.2%	$140.40M	1,225,356
Q2 2023Jun 30, 2023	GE GE Aerospace	GE Aerospace	Sell	-300,365-24.4%	$102.48M	932,940
Q2 2023Jun 30, 2023	MGM MGM Resorts International	MGM Resorts International	Sell	-497,301-15.2%	$122.02M	2,778,191
Q2 2023Jun 30, 2023	YY JOYY Inc.	JOYY Inc.	Sell - Position Exit	-770,815-100.0%	$0.00	-
Q2 2023Jun 30, 2023	GOOG Alphabet Inc.	Alphabet Inc.	Sell	-829,951-99.1%	$925.78K	7,653
Q2 2023Jun 30, 2023	HOUS Anywhere Real Estate Inc.	Anywhere Real Estate Inc.	Sell	-996,921-14.8%	$38.40M	5,748,860
Q2 2023Jun 30, 2023	WEST Westrock Coffee Company	Westrock Coffee Company	Sell	-1,528,930-22.5%	$57.23M	5,264,854
Q2 2023Jun 30, 2023	CNX CNX Resources Corporation	CNX Resources Corporation	Sell	-1,599,627-11.6%	$215.46M	12,159,047
Q2 2023Jun 30, 2023	MAT Mattel, Inc.	Mattel, Inc.	Sell	-1,942,421-17.2%	$182.20M	9,324,247
Q2 2023Jun 30, 2023	ESRT Empire State Realty Trust, Inc.	Empire State Realty Trust, Inc.	Sell	-2,150,978-26.0%	$45.83M	6,118,324
Q2 2023Jun 30, 2023	OSCR Oscar Health, Inc.	Oscar Health, Inc.	Sell	-5,010,863-45.8%	$47.71M	5,919,220

Page 11 of 39 • 1152 total trades

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