Mason Hawkins - Longleaf Partners Investment Strategy & Portfolio Analysis
How Longleaf Partners allocates capital, manages risk, and constructs its portfolio — based on SEC 13F filings.
According to the SEC 13F filed on Aug 14, 2026, Mason Hawkins's Longleaf Partners portfolio reflects a balanced investor approach across 44 reported 13F positions as of quarter-end Jun 30, 2026. Portfolio returns are led by Rayonier Inc. REIT (~11% of total exposure), with the top five holdings representing approximately 43% of reported value. The portfolio maintains structural breadth across 44 positions, with economic weighting tilted toward consumer cyclical companies and consumer defensive companies names. Exposure to high-growth and technology-oriented segments remains limited relative to peers, with performance instead anchored in durable, cash-generating businesses across consumer discretionary, consumer staples, and real estate. The portfolio exhibits extremely low turnover, reinforcing a patient, conviction-led investment approach. Distinctive traits include Long-Term Holder, Structurally Diversified.
Investment Style
Value, growth, quality, and behavioral classification from latest 13F holdings.
Primary type: Balanced Investor
Traits: Long-Term Holder, Structurally Diversified
Turnover profile
Buy & Hold
Holding horizon
Long-Term
Portfolio Construction
Concentration and position sizing in the latest filing.
Portfolio construction is moderately concentrated: top three names represent 28.6% of assets, top five 42.7%, and the largest single position is 10.9%.
Top 3 weight
28.6%
Top 5 weight
42.7%
Top 10 weight
64.8%
Largest position
10.9%
Top holdings: Rayonier Inc. REIT, Mattel, Inc., CNX Resources Corporation, IAC Inc., Albertsons Companies, Inc. — view full holdings
Sector Preferences
Where capital is allocated by sector.
Capital is tilted toward Consumer Cyclical and Consumer Defensive, with 11 sectors represented in the latest filing.
Leading sectors: Consumer Cyclical, Consumer Defensive, Real Estate
Risk Framework
Concentration, diversification, and turnover tolerance.
This investor accepts moderate single-name risk (largest position 10.9%, top ten 64.8%) and moderate economic diversification (HHI 0.03). Turnover tolerance maps to a buy & hold profile.
Largest position
10.9%
Top 10 weight
64.8%
Max sector
17.4%
Diversification
Moderate
Strategy Evolution
How the strategy changed between the two most recent filing periods.
Mar 31, 2026 → Jun 30, 2026
- Position count decreased from 45 to 44 (-1 names).
- Top-five concentration fell from 43.5% to 42.7%.
- Quarter-over-quarter portfolio weight turnover: 9.4%.
For trade-level changes, see the Activity page. View activity.
Similar Investors
Peer group with comparable portfolio behavior.
Similar-investor comparisons are coming soon.