13F-HR 1 f13f0606.txt 13F JUNE 2006 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 06/30/2006 Check here if Amendment [ ]; Amendment Number: ____ This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Southeastern Asset Management, Inc. Address: 6410 Poplar Avenue, Suite 900 Memphis, Tennessee 38119 Form 13F File Number: 28-1399 The institutional investment manager filing this report and the person signing the report hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered to be integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Randy D. Holt Title: Vice President and Secretary Phone: 901-818-5100 Signature, Place, and Date of Signing: Randy D. Holt Memphis, Tennessee 08/11/2006 Report Type (Check only one.): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: None Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 1 Form 13F Information Table Entry Total: 110 Form 13f Information Table Value Total: 26576691 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. No. Form 13F File Number Name 01 28-N/A Longleaf Partners Funds Trust, an investment company registered under the Investment Company Act of 1940 (File # 811-4923) on behalf of one or more of its three series: Longleaf Partners Fund Longleaf Partners Small-Cap Fund Longleaf Partners International Fund FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- Anheuser-Busch Companies, Inc. COM 035229103 193954 4254300 SH SOLE 3693700 560600 180144 3951400 SH DEFINED 01 3951400 274 6000 SH OTHER 6000 Aon Corp COM 037389103 902632 25922800 SH SOLE 21744800 4178000 509312 14627000 SH DEFINED 01 14627000 870 25000 SH OTHER 25000 CEMEX S.A.B. de C.V. - ADR COM 151290889 922857 16199001 SH SOLE 14072216 2126785 586759 10299436 SH DEFINED 01 10299436 681 11953 SH OTHER 11953 Chesapeake Energy Corp. COM 165167107 267168 8832000 SH SOLE 6741000 2091000 342763 11331000 SH DEFINED 01 11331000 121 4000 SH OTHER 4000 Comcast Corp Cl A COM 20030N101 171310 5232435 SH SOLE 4127304 1105131 40322 1231596 SH DEFINED 01 1231596 42 1294 SH OTHER 1294 Comcast Corp Special Cl A COM 20030N200 869803 26534562 SH SOLE 23446562 3088000 420437 12826021 SH DEFINED 01 12826021 738 22500 SH OTHER 22500 DIRECTV Group, Inc COM 25459L106 1019553 61791077 SH SOLE 53634876 8156201 459401 27842500 SH DEFINED 01 27842500 700 42408 SH OTHER 42408 Dell, Inc. COM 24702R101 1549350 63342173 SH SOLE 54577174 8764999 1165661 47655790 SH DEFINED 01 47655790 1321 54000 SH OTHER 54000 Discovery Holding Company COM 25468Y107 166936 11410510 SH SOLE 10224210 1186300 237845 16257344 SH DEFINED 01 16257344 89 6100 SH OTHER 6100 Everest Re Group Ltd. COM G3223R108 181650 2098300 SH SOLE 1914300 184000 123085 1421800 SH DEFINED 01 1421800 FedEx Corp. COM 31428X106 443379 3794100 SH SOLE 3075100 719000 467276 3998600 SH DEFINED 01 3998600 763 6533 SH OTHER 6533 First Horizon National Corp COM 320517105 965 24000 SH SOLE 24000 General Motors COM 370442105 780954 26215300 SH SOLE 22294600 3920700 424210 14240000 SH DEFINED 01 14240000 626 21000 SH OTHER 21000 Hilb, Rogal & Hobbs Co. COM 431294107 2721 73000 SH SOLE 73000 131429 3526400 SH DEFINED 01 3526400 IDT Corporation Class B COM 448947309 139 10100 SH SOLE 10100 9147 663300 SH DEFINED 01 663300 IHOP Corp. COM 449623107 23511 489000 SH SOLE 287000 202000 143187 2978100 SH DEFINED 01 2978100 Jacuzzi Brands, Inc. COM 469865109 32391 3680800 SH SOLE 2532500 1148300 128566 14609800 SH DEFINED 01 14609800 Koninklijke Philips Electronic COM 500472303 877665 28184500 SH SOLE 24220500 3964000 155857 5005034 SH DEFINED 01 5005034 778 25000 SH OTHER 25000 Level 3 Communications COM 52729N100 201101 45292918 SH SOLE 40611350 4681568 480525 108226271SH DEFINED 01 108226271 Liberty Capital Series A COM 53071M302 529083 6315895 SH SOLE 5564045 751850 233565 2788172 SH DEFINED 01 2788172 390 4650 SH OTHER 4650 Liberty Interactive Series A COM 53071M104 730308 42312175 SH SOLE 36686225 5625950 389811 22584666 SH DEFINED 01 22584666 643 37250 SH OTHER 37250 Millea Holdings, Inc. ADR COM 60032R106 206139 2215600 SH SOLE 1712000 503600 Molson Coors Brewing Co COM 60871R209 126854 1868800 SH SOLE 1761800 107000 276312 4070600 SH DEFINED 01 4070600 NTT Docomo, Inc. ADR COM 62942M201 50832 3467400 SH SOLE 2958400 509000 Nestle S A ADR COM 641069406 11973 152780 SH SOLE 152780 News Corp Inc. COM 65248E203 62215 3082996 SH SOLE 3082996 146096 7239640 SH DEFINED 01 7239640 Odyssey Re Holdings Corp COM 67612W108 46808 1776400 SH SOLE 1170400 606000 22234 843800 SH DEFINED 01 843800 PepsiAmericas. Inc. COM 71343P200 20569 930300 SH SOLE 838300 92000 116363 5262900 SH DEFINED 01 5262900 Pioneer Natural Resources Co. COM 723787107 464105 10000100 SH SOLE 7939000 2061100 547712 11801600 SH DEFINED 01 11801600 743 16000 SH OTHER 16000 Potlatch Holdings, Inc. COM 737630103 1953 51745 SH SOLE 51745 127875 3387422 SH DEFINED 01 3387422 Ruddick Corp. COM 781258108 1147 46800 SH SOLE 46800 117518 4794700 SH DEFINED 01 4794700 Saks, Inc. COM 79377W108 187426 11591000 SH SOLE 9567000 2024000 Service Corporation Internatio COM 817565104 2141 263000 SH SOLE 263000 140048 17204900 SH DEFINED 01 17204900 Shaw Communications, Inc. Clas COM 82028K200 133679 4725300 SH SOLE 3786800 938500 398651 14091600 SH DEFINED 01 14091600 Sprint Nextel Corp COM 852061100 691756 34605100 SH SOLE 30015100 4590000 420508 21035900 SH DEFINED 01 21035900 640 32000 SH OTHER 32000 Telephone & Data Systems, Inc. COM 879433100 113490 2741300 SH SOLE 2344500 396800 63375 1530800 SH DEFINED 01 1530800 248 6000 SH OTHER 6000 Telephone & Data Systems, Inc. COM 879433860 470474 12094437 SH SOLE 9941100 2153337 220415 5666200 SH DEFINED 01 5666200 233 6000 SH OTHER 6000 USI Holdings Corporation COM 90333H101 670 50000 SH SOLE 50000 31655 2360576 SH DEFINED 01 2360576 Vail Resorts, Inc. COM 91879Q109 30315 817117 SH DEFINED 01 817117 Vivendi ADR COM 92851S204 350688 10045484 SH SOLE 8784284 1261200 142021 4068200 SH DEFINED 01 4068200 943 27000 SH OTHER 27000 Walt Disney Company COM 254687106 1111320 37044000 SH SOLE 31913500 5130500 464694 15489800 SH DEFINED 01 15489800 870 29000 SH OTHER 29000 Wendys International COM 950590109 139640 2395600 SH DEFINED 01 2395600 Willis Group Holdings Ltd COM G96655108 171221 5334000 SH SOLE 4989000 345000 195778 6099000 SH DEFINED 01 6099000 Yum! Brands, Inc. COM 988498101 540230 10746562 SH SOLE 9311500 1435062 609318 12120900 SH DEFINED 01 12120900 704 14000 SH OTHER 14000 Fairfax Financial Holdings Ltd COM 303901102 181848 1904980 SH SOLE 1677980 227000 171444 1796000 SH DEFINED 01 1796000 Level 3 Communications Convert CONV 52729nbe9 244562 160764000PRN SOLE 134758000 26006000 337838 222079000PRN DEFINED 01 222079000 Level 3 Communications, Inc. C CONV 52729NAG5 13637 15630000 PRN SOLE 6950000 8680000 92454 105964000PRN DEFINED 01 105964000 Level 3 Communications, Inc. C CONV 52729NAS9 40594 48982000 PRN SOLE 41932000 7050000 8950 10800000 PRN DEFINED 01 10800000