13F-HR 1 f13f0309.txt 13F MARCH 31, 2009 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 03/31/2009 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: Andrew R. McCarroll Title: General Counsel Phone: 901-761-2474 Signature, Place, and Date of Signing: /s/Andrew R. McCarroll Memphis, Tennessee 05/15/2009 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: 101 Form 13f Information Table Value Total: 16956747 (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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- Berkshire Hathaway Inc. Class COM 084670108 209641 2418 SH Sole 2113 305 248222 2863 SH Defined 01 2863 87 1 SH Other 1 CEMEX S.A.B. de C.V. ADR COM 151290889 423281 67724975 SH Sole 56204036 11520939 241394 38623000 SH Defined 01 38623000 253 40450 SH Other 40450 Chesapeake Energy Corporation COM 165167107 798440 46801889 SH Sole 39467095 7334794 436678 25596576 SH Defined 01 25596576 563 33000 SH Other 33000 Del Monte Foods Company COM 24522P103 1696 232663 SH Sole 232663 67928 9317987 SH Defined 01 9317987 Dell Inc. COM 24702R101 991377 104575652 SH Sole 87031207 17544445 602236 63527036 SH Defined 01 63527036 689 72700 SH Other 72700 Dillard's Inc. COM 254067101 866 152000 SH Sole 152000 51589 9050748 SH Defined 01 9050748 DineEquity Inc COM 254423106 2839 239400 SH Sole 127000 112400 35320 2978100 SH Defined 01 2978100 DIRECTV Group Inc. COM 25459L106 399184 17515738 SH Sole 14277958 3237780 225872 9911000 SH Defined 01 9911000 230 10108 SH Other 10108 Discovery Communications Inc. COM 25470F104 36934 2305499 SH Sole 614549 1690950 47603 2971481 SH Defined 01 2971481 Discovery Communications Serie COM 25470F302 33163 2263659 SH Sole 1975524 288135 43459 2966455 SH Defined 01 2966455 EBay Inc. COM 278642103 552291 43972246 SH Sole 37136984 6835262 253794 20206566 SH Defined 01 20206566 340 27100 SH Other 27100 EnCana Corporation COM 292505104 32793 807500 SH Sole 807500 24366 600000 SH Defined 01 600000 Everest Re Group Ltd. COM G3223R108 251865 3557413 SH Sole 2903100 654313 109110 1541100 SH Defined 01 1541100 Fair Isaac Corporation COM 303250104 1435 102000 SH Sole 102000 99565 7076400 SH Defined 01 7076400 FedEx Corporation COM 31428X106 153547 3451263 SH Sole 2931263 520000 117954 2651238 SH Defined 01 2651238 174 3900 SH Other 3900 Ingersoll-Rand Company Limited COM G4776G101 480367 34809167 SH Sole 28542376 6266791 78645 5698878 SH Defined 01 5698878 Level 3 Communications Inc. COM 52729N100 212635 231125074 SH Sole 185988427 45136647 189565 206048754 SH Defined 01 206048754 34 37000 SH Other 37000 Liberty Media Corp Entertainme COM 53071M500 1152569 57772872 SH Sole 48803993 8968879 723791 36280271 SH Defined 01 36280271 848 42500 SH Other 42500 Liberty Media Corporation Inte COM 53071M104 180393 62204477 SH Sole 50854186 11350291 111039 38289181 SH Defined 01 38289181 129 44500 SH Other 44500 Markel Corporation COM 570535104 1769 6231 SH Sole 6231 81757 288000 SH Defined 01 288000 Marriott International Inc. COM 571903202 306870 18757310 SH Sole 15216310 3541000 258185 15781473 SH Defined 01 15781473 360 22000 SH Other 22000 Pioneer Natural Resources Comp COM 723787107 166294 10096757 SH Sole 7889257 2207500 208546 12662200 SH Defined 01 12662200 264 16000 SH Other 16000 Potlatch Corporation COM 737630103 997 43000 SH Sole 43000 66950 2887000 SH Defined 01 2887000 Royal Philips Electronics ADR COM 500472303 338854 22787771 SH Sole 19508587 3279184 81160 5458000 SH Defined 01 5458000 297 20000 SH Other 20000 Ruddick Corporation COM 781258108 1102 49079 SH Sole 49079 69762 3107459 SH Defined 01 3107459 Service Corporation Internatio COM 817565104 1050 300900 SH Sole 300900 66199 18968200 SH Defined 01 18968200 Sun Microsystems Inc. COM 866810203 775694 105969073 SH Sole 87524673 18444400 391444 53476000 SH Defined 01 53476000 524 71650 SH Other 71650 Symantec Corporation COM 871503108 487652 32640711 SH Sole 29301443 3339268 418 28000 SH Other 28000 Telephone and Data Systems Inc COM 879433100 38836 1464948 SH Sole 1255148 209800 40582 1530800 SH Defined 01 1530800 159 6000 SH Other 6000 Telephone and Data Systems Inc COM 879433860 219959 9300595 SH Sole 7526258 1774337 134006 5666200 SH Defined 01 5666200 142 6000 SH Other 6000 Texas Industries Inc. COM 882491103 1362 54500 SH Sole 54500 62852 2514100 SH Defined 01 2514100 The Washington Post Company COM 939640108 37385 104691 SH Sole 99505 5186 120648 337855 SH Defined 01 337855 tw telecom inc. COM 87311L104 53732 6140788 SH Sole 4700780 1440008 128911 14732670 SH Defined 01 14732670 Walgreen Co. COM 931422109 74592 2873349 SH Sole 1912500 960849 127848 4924819 SH Defined 01 4924819 Walt Disney Company COM 254687106 609368 33555494 SH Sole 26848209 6707285 253061 13935100 SH Defined 01 13935100 527 29000 SH Other 29000 Wendy's/Arby's Group Inc. COM 950587105 78006 15508190 SH Defined 01 15508190 Willis Group Holdings Limited COM G96655108 53724 2442000 SH Sole 2222000 220000 153648 6984000 SH Defined 01 6984000 Worthington Industries Inc. COM 981811102 1110 127400 SH Sole 127400 57321 6581000 SH Defined 01 6581000 Yum! Brands Inc. COM 988498101 453984 16520518 SH Sole 13814894 2705624 363852 13240628 SH Defined 01 13240628 632 23000 SH Other 23000 Fairfax Financial Holdings Lim COM 303901102 491185 1895656 SH Sole 1518741 376915 308723 1191472 SH Defined 01 1191472 Level 3 Communications Inc. Co CONV 52729NBM1 98186 100062000 PRN Defined 01 100062000 Level 3 Communications, Inc. C CONV 52729NAS9 34000 40000000 PRN Defined 01 40000000 General Motors Series B Conv. CONV 370442733 10915 4297200 PRN Sole 3702000 595200 14551 5728800 PRN Defined 01 5728800