Mason Hawkins - Longleaf Partners 13F Activity & Position Changes (Q4 2025)

According to the SEC 13F filed on Feb 13, 2026, the Longleaf Partners portfolio showed several notable changes in holdings as of quarter-end Dec 31, 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 Q4 2025, the filing reported:

New Buys - New Oriental Education & Techno, Fiserv, Inc., Louisiana-Pacific Corporation

Increases - Albertsons Companies, Inc., ACM Research, Inc., Clearwater Paper Corporation, Walt Disney Company (The), Empire State Realty Trust, Inc., and 13 more

Reductions - Affiliated Managers Group, Inc., Avantor, Inc., Bio-Rad Laboratories, Inc., Cardinal Health, Inc., CNX Resources Corporation, and 17 more

Complete Exits - None reported

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

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q4 2025	ACI Albertsons Companies, Inc.	Albertsons Companies, Inc.	Buy	+1,222,843	+24.7%	$105.88M	6,166,712
Q4 2025	ACMR ACM Research, Inc.	ACM Research, Inc.	Buy	+194,494	+13.1%	$66.28M	1,680,181
Q4 2025	AMG Affiliated Managers Group, Inc.	Affiliated Managers Group, Inc.	Sell	-1,276	-18.7%	$1.60M	5,562
Q4 2025	AVTR Avantor, Inc.	Avantor, Inc.	Sell	-1,600,902	-31.1%	$40.67M	3,548,518
Q4 2025	BIO Bio-Rad Laboratories, Inc.	Bio-Rad Laboratories, Inc.	Sell	-9,624	-4.1%	$68.97M	227,630
Q4 2025	CAH Cardinal Health, Inc.	Cardinal Health, Inc.	Sell	-1,995	-18.7%	$1.78M	8,649
Q4 2025	CLW Clearwater Paper Corporation	Clearwater Paper Corporation	Buy	+443,009	+47.2%	$24.03M	1,380,930
Q4 2025	CNX CNX Resources Corporation	CNX Resources Corporation	Sell	-16,805	-0.4%	$174.14M	4,735,824
Q4 2025	DIS Walt Disney Company (The)	Walt Disney Company (The)	Buy	+31,315	+11.0%	$36.09M	317,175
Q4 2025	EDU New Oriental Education & Techno	New Oriental Education & Techno	Buy - Position Entry	+379,561	-	$20.89M	379,561
Q4 2025	ENOV Enovis Corporation	Enovis Corporation	Sell	-10,203	-18.7%	$1.18M	44,258
Q4 2025	ESRT Empire State Realty Trust, Inc.	Empire State Realty Trust, Inc.	Buy	+1,074,096	+40.8%	$24.15M	3,704,236
Q4 2025	FBIN Fortune Brands Innovations, Inc	Fortune Brands Innovations, Inc	Buy	+162,501	+16.0%	$58.93M	1,178,103
Q4 2025	FDX FedEx Corporation	FedEx Corporation	Sell	-15,258	-4.1%	$103.74M	359,122
Q4 2025	FI Fiserv, Inc.	Fiserv, Inc.	Buy - Position Entry	+3,990	-	$268.01K	3,990
Q4 2025	FIS Fidelity National Information S	Fidelity National Information S	Sell	-3,960	-0.6%	$41.35M	622,149
Q4 2025	GHC Graham Holdings Company	Graham Holdings Company	Buy	+364	+1.0%	$39.24M	35,721
Q4 2025	H Hyatt Hotels Corporation	Hyatt Hotels Corporation	Sell	-1,775	-18.7%	$1.24M	7,733
Q4 2025	HDB HDFC Bank Limited	HDFC Bank Limited	Sell	-39,412	-79.0%	$382.28K	10,462
Q4 2025	HSIC Henry Schein, Inc.	Henry Schein, Inc.	Sell	-3,924	-18.7%	$1.29M	17,038
Q4 2025	HTHT H World Group Limited	H World Group Limited	Sell	-645,490	-73.6%	$10.89M	231,372
Q4 2025	IAC IAC Inc.	IAC Inc.	Buy	+1,221,829	+44.1%	$155.98M	3,989,340
Q4 2025	KHC The Kraft Heinz Company	The Kraft Heinz Company	Buy	+850,742	+23.4%	$108.84M	4,488,116
Q4 2025	KSPI Joint Stock Company Kaspi.kz -	Joint Stock Company Kaspi.kz -	Buy	+62,184	+34.8%	$18.80M	240,628
Q4 2025	LAZ Lazard, Inc.	Lazard, Inc.	Sell	-4,255	-18.6%	$903.60K	18,608
Q4 2025	LPX Louisiana-Pacific Corporation	Louisiana-Pacific Corporation	Buy - Position Entry	+272,123	-	$21.98M	272,123
Q4 2025	LYV Live Nation Entertainment, Inc.	Live Nation Entertainment, Inc.	Sell	-1,946	-18.7%	$1.20M	8,434
Q4 2025	MAT Mattel, Inc.	Mattel, Inc.	Buy	+409,032	+5.0%	$170.04M	8,570,328
Q4 2025	MGM MGM Resorts International	MGM Resorts International	Buy	+285,367	+16.3%	$74.20M	2,033,369
Q4 2025	MLCO Melco Resorts & Entertainment L	Melco Resorts & Entertainment L	Sell	-213,165	-10.6%	$13.61M	1,797,254

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