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

As of Dec 31, 2025, the Longleaf Partners portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Feb 13, 2026. 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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