Mason Hawkins Reduces Portfolio in 3 Holdings

Dice with pencil on graph paper

Legendary investment guru Mason Hawkins sold 51,700,581 shares from his portfolio in Triangle Petroleum Corp. ( TPLM ), Level 3 Communications Inc. ( NYSE:LVLT ) and Loews Corp. ( NYSE:L ).

Hawkins is primarily a value investor similar to Benjamin Graham and Philip A. Fisher. These legendary gurus looked for businesses with good management, good people and companies that sold for discounts significantly lower than their intrinsic values.

Hawkins founded Southeastern Asset Management Inc. in 1975 and is the chairman and chief executive officer. Hawkins and his team of long-term value investors look to build portfolios primarily focusing on 18 to 22 stocks at any given time, looking at a wide range of industries. Hawkins believes that concentrating allows for adequate diversification while providing some of the best opportunities to maximize returns and minimize loss of principal.

Triangle Petroleum Corp.

Mason Hawkins reduced his holdings in Triangle Petroleum by 73.71%, selling 2,955,759 shares. The company is an independent energy holding operating in three business lines including oil and natural gas exploration, development and production; oilfield services and midstream services. It operates in two segments - the exploration and production segment and the oilfield services segment.

Triangle Petroleum has a market cap of $64.94 billion, a P/S ratio of 0.14, a cash-to-debt ratio of 0.06 and a quick ratio of 1.04.

Below is a Peter Lynch chart for Triangle Petroleum.

Southeastern Asset Management has also reduced its holdings in Level 3 Communications by selling 38,190,984 shares - 5.69% of its total holding.

Level 3 Communications is a Delaware corporation incorporated in 1941 as Peter Kiewit Sons Inc. The company provides communications network generally by constructing its own assets but also through a combination of purchasing and leasing other companies and facilities. The company designed its network to provide communications services, which employ and take advantage of rapidly improving underlying optical, Internet protocol and computing and storage technologies.

Level 3 Communications has a market cap of $18.08 billion, a P/E ratio of 96.51, a P/S ratio of 2.17 and a cash-to-debt ratio of 0.06.

Below is a Peter Lynch chart for Level 3 Communications.

Hawkins also reduced his holdings in Loews after selling 10,553,838 shares.

Loews was incorporated in 1967 and is an insurance holding company. The company is engaged in commercial property and casualty insurance; operation of offshore oil and gas drilling rigs; exploration, production and marketing of natural gas and natural gas liquids; operation of interstate natural gas pipeline systems and the operation of hotels.

Loews is also traded in Germany.

Loews has a market cap of $13.38 billion, a P/E ratio of 20.9 and a dividend yield of 0.66.

Below is a Peter Lynch chart of Loews.

Hawkins has done a great job of growing and maintaining the Southeastern Asset Management fund. Today its total value is worth close to $12 billion. Hawkins has made some significant reductions to his portfolio with these three holdings, but his track record proves that he knows what he's doing.

Cheers to your investment success.

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This article first appeared on GuruFocus .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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