Founder of Memphis-based Southeastern Asset Management and the Longleaf Partners Funds — a concentrated value investor in the Benjamin Graham tradition.
Life story
O. Mason Hawkins was born in 1948. Little is publicly known about his childhood and family; it is reported that his father gave him Benjamin Graham's "The Intelligent Investor" and "Security Analysis" while he was still at school.
He earned a bachelor's in finance from the University of Florida in 1970 and an MBA from the University of Georgia in 1971, and later became a CFA charterholder.
How they got started
Hawkins was director of research at Atlantic National Bank (1972–1973) and at First Tennessee Investment Management (1974–1975). In 1975 he and partners founded Southeastern Asset Management in Memphis, Tennessee.
The Longleaf Partners Fund launched in 1987, followed by a small-cap fund (1989), an international fund (1998) and a global fund (2012). Staley Cates, at the firm since 1986, became his close partner and chief investment officer. In 2006 Hawkins and Cates were named Morningstar's Domestic Equity Fund Managers of the Year, and in 2005 Institutional Investor gave Hawkins a Lifetime Achievement Award.
Investment style
Hawkins looks for three things: a good business, good people and a good price. He aims to buy companies far below intrinsic value — ideally at around half of what they are worth.
Portfolios typically hold 18–22 stocks with an average holding period of about five years. The firm is willing to hold large cash balances when opportunities are scarce and to engage actively with management when needed. It is 100% employee-owned, and employees are required to keep their retirement savings in the firm's funds.
Best decisions
Long-term record
Institutional Investor reported in 2019 that the Longleaf Partners Fund had beaten its benchmark over 20 years and since inception.
Years of strong growth
The firm once managed very large sums — about $23.6 billion in 2012 — and both the flagship and small-cap funds were closed to new investors several times due to demand.
Biggest mistakes
Lagging the bull market
As of early 2019, the Longleaf Partners Fund's five-year average annual return was 6.15%, versus 13.95% for the S&P 500.
Shrinking assets
As performance weakened, assets fell: from about $23.6 billion in 2012 to $14.1 billion in early 2019 and $6.9 billion by November 2022.
Today
In January 2019, aged 70, Hawkins handed the CEO role to Ross Glotzbach while staying on as chairman and portfolio manager. In 2026 he is 78; there is little recent public information about his current role at the firm.
The firm is now led by Ross Glotzbach (CEO) and Staley Cates (president and CIO), with offices in London, Singapore and Sydney as well as Memphis.
What to learn from following the portfolio
- Southeastern holds few positions for a long time — a new position or a meaningful increase is a strong conviction signal.
- The firm also invests outside the US; the 13F shows only long US positions, with a 45-day lag.
- Value investing can trail the market for years — instead of blindly copying, analyse why a stock is considered cheap.
- Halal lens: the firm's history includes many energy, media and financial companies — highly leveraged companies and banks usually fail halal screening. Check each position's halal status in the Portfolio tab.
An introduction based on public sources — not investment advice. Spotted an error? Let us know.