Mason Hawkins

Last updated
Otis "Mason" Hawkins
NationalityAmerican
Alma mater University of Florida
University of Georgia
Known forFounded Southeastern Asset Management, Inc. in 1975
Board member of Charter School Growth Fund

Otis "Mason" Hawkins is an American value investor and the founder, chairman, and former Chief Executive Officer of Southeastern Asset Management, Inc. [1] In 1975, Hawkins founded Southeastern Asset Management, a $35 billion employee-owned, global investment management firm and the investment advisor to the Longleaf Partners Funds, a suite of mutual funds and UCITS funds. [2] [3] [4]

Contents

Professional history

Hawkins was Director of Research at First Tennessee Investment Management (1974–1975) and Director of Research at Atlantic National Bank (1972–1973), prior to founding Southeastern. He received a B.A. in Finance from the University of Florida in 1970 and an M.B.A. in Finance from the University of Georgia in 1971. Hawkins also holds the Chartered Financial Analyst (CFA) designation. [1] [5] [6]

In 1975, Hawkins founded Southeastern Asset Management and later launched the Longleaf Partners Funds, a suite of mutual funds and UCITS funds, in 1987. [4] [7]

Investment strategy

Hawkins is a value investor. When considering prospective investments, he looks for three criteria: strong businesses with good people, at deeply discounted prices. [2]

Hawkins invests in businesses with solid balance sheets. He looks for businesses that trade at far below intrinsic value and have a capable management team, which are important factors for long-term success. His firm, Southeastern Asset Management, has concentrated portfolios with 18-22 stocks usually. [3] [8] [9]

Awards

Hawkins received Institutional Investor (magazine)’s Lifetime Achievement Award in 2005. [10] He and Southeastern Asset Management President and Chief Investment Officer Staley Cates were also named Morningstar, Inc. Domestic Equity Fund Managers of the Year in 2006 and were nominees for the same in 2003 and 2009. [11] Hawkins’s firm, Southeastern Asset Management, was selected as Equity Manager of the Year at the Foundation and Endowment Money Management’s Nonprofit Awards for Excellence in 2007. [12]

Southeastern Asset Management's investment approach and Hawkins as its leader were featured in Chapter 10 of Yale endowment Chief Investment Officer David Swensen’s book Unconventional Success. [11]

Related Research Articles

Passive management is an investing strategy that tracks a market-weighted index or portfolio. Passive management is most common on the equity market, where index funds track a stock market index, but it is becoming more common in other investment types, including bonds, commodities and hedge funds.

A mutual fund is an investment fund that pools money from many investors to purchase securities. The term is typically used in the United States, Canada, and India, while similar structures across the globe include the SICAV in Europe, and the open-ended investment company (OEIC) in the UK.

An exchange-traded fund (ETF) is a type of investment fund that is also an exchange-traded product, i.e., it is traded on stock exchanges. ETFs own financial assets such as stocks, bonds, currencies, debts, futures contracts, and/or commodities such as gold bars. The list of assets that each ETF owns, as well as their weightings, is posted on the website of the issuer daily, or quarterly in the case of active non-transparent ETFs. Many ETFs provide some level of diversification compared to owning an individual stock.

<span class="mw-page-title-main">Franklin Templeton Investments</span> Global investment firm founded in New York City in 1947

Franklin Resources, Inc. is an American multinational holding company that, together with its subsidiaries, is referred to as Franklin Templeton; it is a global investment firm founded in New York City in 1947 as Franklin Distributors, Inc. It is listed on the New York Stock Exchange under the ticker symbol BEN, in honor of Benjamin Franklin, for whom the company is named, and who was admired by founder Rupert Johnson Sr. In 1973, the company's headquarters moved from New York to San Mateo, California.

Morningstar, Inc. is an American financial services firm headquartered in Chicago, Illinois, and was founded by Joe Mansueto in 1984. It provides an array of investment research and investment management services.

Active management is an approach to investing. In an actively managed portfolio of investments, the investor selects the investments that make up the portfolio. Active management is often compared to passive management or index investing.

Style investing is an investment approach in which securities are grouped into categories, and portfolio allocation is based on selection among "styles" rather than among individual securities.

<span class="mw-page-title-main">Dodge & Cox</span> American Investment Firm

Dodge & Cox is an American mutual fund company, founded in 1930 by Van Duyn Dodge and E. Morris Cox, that provides professional investment management services.

<span class="mw-page-title-main">Wellington Management Company</span> American investment management firm

Wellington Management Company is a private, independent investment management firm with client assets under management totaling over US$1 trillion based in Boston, Massachusetts, United States.

<span class="mw-page-title-main">Baird (investment bank)</span> American investment firm

Robert W. Baird & Co. is an American multinational independent investment firm and financial services company. It is the principal U.S. operating subsidiary of Baird, an international, employee-owned financial services firm providing investment banking, capital markets, private equity, wealth management, and asset management services to individuals, corporations, institutional investors, and municipalities.

<span class="mw-page-title-main">Alternative investment</span> Investments other than stocks, bonds and cash

An alternative investment, also known as an alternative asset or alternative investment fund (AIF), is an investment in any asset class excluding capital stocks, bonds, and cash. The term is a relatively loose one and includes tangible assets such as precious metals, collectibles and some financial assets such as real estate, commodities, private equity, distressed securities, hedge funds, exchange funds, carbon credits, venture capital, film production, financial derivatives, cryptocurrencies, non-fungible tokens, and Tax Receivable Agreements. Investments in real estate, forestry and shipping are also often termed "alternative" despite the ancient use of such real assets to enhance and preserve wealth. Alternative investments are to be contrasted with traditional investments.

Highland Capital Management is an alternative investment management firm that manages hedge funds, structured investment vehicles and mutual funds. The firm invests in global public equities, as well as fixed income markets with a focus on leveraged loans, high yield bonds, and structured products.

Virtus Investment Partners, Inc. operates a multi-manager asset management business, comprising a number of individual affiliated managers, each having its own investment process and brand, and the services of unaffiliated sub advisers.

Lord, Abbett & Co. LLC is an independent, privately-held investment management company headquartered in Jersey City, New Jersey. The firm offers a variety of fixed−income and equity strategies to individual and institutional investors. Lord Abbett has a global presence with offices in Jersey City, Dubai, Dublin, London, Montevideo, Singapore, Tokyo, and Zurich.

Harris Associates L.P. is a Chicago-based investment company that has $104 billion under management as of December 31, 2023. Harris manages long-only U.S. equity, international equity, and global equity strategies which are offered through its mutual fund company, the Oakmark Funds, and other types of vehicles. Harris is wholly owned by Natixis Investment Managers, an American-French financial services firm that is principally owned by BPCE. Harris Associates retains full control of investment decisions, investment philosophy, and day-to-day operations.

<span class="mw-page-title-main">Amundi</span> French asset management firm

Amundi is a French asset management company. With €2 trillion of assets under management (AUM) at the end of 2021, it is the largest asset manager in Europe and one of the 10 biggest investment managers in the world.

Brinson Partners was an asset management firm focused on providing access for U.S. institutions to global markets. The firm was founded by noted investor Gary P. Brinson in the 1980s and established as an independent firm in 1989. Brinson was acquired by Swiss Bank Corporation in 1994 and became the core of the Swiss bank's asset management business in the U.S.

Southeastern Asset Management is an employee-owned, global investment management firm founded in 1975 by O. Mason Hawkins and the investment advisor to the Longleaf Partners Funds, a suite of mutual funds and UCITS funds. Southeastern has approximately 60 employees worldwide, as of December 2013, and is headquartered in Memphis, Tennessee, with additional offices in London, England; Singapore; and Sydney, Australia. As of December 2013, the firm had $35 billion in assets under management.

Style drift occurs when a mutual fund's actual and declared investment style differs. A mutual fund’s declared investment style can be found in the fund prospectus which investors commonly rely upon to aid their investment decisions. For most investors, they assumed that mutual fund managers will invest according to the advertised guidelines, this is however, not the case for a fund with style drift. Style drift is commonplace in today’s mutual fund industry, making no distinction between developed and developing markets according to studies in the United States by Brown and Goetzmann (1997) and in China as reported in Sina Finance.

Thornburg Investment Management is a US-based private, independent investment management company. As of January 2020, it had assets under management and advisement totaling over US$ 46 billion. It was founded in 1982 by Garrett Thornburg and is headquartered in Santa Fe, New Mexico with additional offices in London, Hong Kong, and Shanghai.

References

  1. 1 2 "O. MASON HAWKINS". Tiger 21. Retrieved May 15, 2014.
  2. 1 2 "Mason Hawkins Resource Page". Value Walk. Retrieved May 16, 2014.
  3. 1 2 "Longleaf Partners Funds". Longleaf Partners Funds. Retrieved May 15, 2014.
  4. 1 2 "SOUTHEASTERN ASSET MANAGEMENT INC". Whale Wisdom. March 31, 2014.
  5. ↑ "Mason Hawkins Bio, Returns, Net Worth". Insider Monkey. Retrieved May 18, 2014.
  6. ↑ "Southeastern Asset Management, Inc". The Conference Board, Inc. September 30, 2009.
  7. ↑ "Otis Mason Hawkins CFA". Bloomberg Businessweek. Archived from the original on May 20, 2014. Retrieved May 17, 2014.
  8. ↑ GuruFocus (May 15, 2013). "Mason Hawkins Increases Holdings in 5 Stocks". NASDAQ.
  9. ↑ "O. Mason Hawkins". Morningstar, Inc. Retrieved May 17, 2014.
  10. ↑ "Longleaf's Hawkins Wins Lifetime Achievement Award". Institutional Investor. January 11, 2005. Archived from the original on September 24, 2015. Retrieved May 20, 2014.
  11. 1 2 "FCBE Events". University of Memphis. October 4, 2012. Archived from the original on May 21, 2014. Retrieved May 20, 2014.
  12. ↑ "Nonprofit Awards for Excellence: Equity Manager of the Year" (PDF). Institutional Investor. November 2007.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.