13F-HR 1 f13f0310.txt 13F - MARCH 31, 2010 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 03/31/2010 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 05/14/2010 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: 68 Form 13f Information Table Value Total: 21975165 (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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- Aon Corporation COM 037389103 422604 9894730 SH Sole 8178730 1716000 334261 7826299 SH Defined 01 7826299 Bank of New York Mellon Corpor COM 064058100 251768 8153123 SH Sole 6766123 1387000 228111 7387000 SH Defined 01 7387000 Berkshire Hathaway Inc. Class COM 084670108 1096 9 SH Sole 9 CEMEX S.A.B. de C.V. ADR COM 151290889 854069 83650277 SH Sole 67715885 15934392 487589 47756000 SH Defined 01 47756000 Chesapeake Energy Corporation COM 165167107 1286169 54406451 SH Sole 45397287 9009164 605103 25596576 SH Defined 01 25596576 Dell Inc. COM 24702R101 1344657 89524434 SH Sole 74886599 14637835 739937 49263465 SH Defined 01 49263465 Diageo Plc - ADR COM 25243Q205 24822 368013 SH Sole 368013 Dillard's Inc. COM 254067101 2620 111000 SH Sole 111000 165100 6995748 SH Defined 01 6995748 DineEquity Inc COM 254423106 9463 239400 SH Sole 127000 112400 117724 2978100 SH Defined 01 2978100 DIRECTV Cl A COM 25490A101 1764496 52188572 SH Sole 43616122 8572450 807492 23883238 SH Defined 01 23883238 Discovery Communications Serie COM 25470F302 86752 2949735 SH Sole 1547735 1402000 Everest Re Group Ltd. COM G3223R108 338870 4187196 SH Sole 3147400 1039796 108042 1335000 SH Defined 01 1335000 Fair Isaac Corporation COM 303250104 55091 2174083 SH Sole 1000383 1173700 182864 7216400 SH Defined 01 7216400 FedEx Corporation COM 31428X106 329090 3523452 SH Sole 2949452 574000 273721 2930629 SH Defined 01 2930629 Ingersoll-Rand PLC COM G47791101 418 12000 SH Sole 12000 InterContinental Hotels Group COM 45857P301 14847 949308 SH Sole 509308 440000 2369 151495 SH Defined 01 151495 Level 3 Communications Inc. COM 52729N100 433090 267339702 SH Sole 221227286 46112416 315022 194457754 SH Defined 01 194457754 Liberty Media Corporation Inte COM 53071M104 648691 42398128 SH Sole 34600878 7797250 392153 25630943 SH Defined 01 25630943 Markel Corporation COM 570535104 158673 423511 SH Sole 303714 119797 107902 288000 SH Defined 01 288000 Marriott International Inc. COM 571903202 63 2000 SH Sole 2000 224352 7117767 SH Defined 01 7117767 Pioneer Natural Resources Comp COM 723787107 520633 9244191 SH Sole 7138391 2105800 701291 12451900 SH Defined 01 12451900 Potlatch Corporation COM 737630103 1507 43000 SH Sole 43000 101160 2887000 SH Defined 01 2887000 Royal Philips Electronics ADR COM 500472303 659708 20603004 SH Sole 17382204 3220800 188205 5877731 SH Defined 01 5877731 Ruddick Corporation COM 781258108 1553 49079 SH Sole 49079 98320 3107459 SH Defined 01 3107459 Sealed Air Corporation COM 81211K100 61637 2923959 SH Defined 01 2923959 Service Corporation Internatio COM 817565104 2762 300900 SH Sole 300900 132623 14447000 SH Defined 01 14447000 Symantec Corporation COM 871503108 489385 28910644 SH Sole 26265982 2644662 Telephone and Data Systems Inc COM 879433100 20723 612200 SH Sole 571400 40800 51818 1530800 SH Defined 01 1530800 Telephone and Data Systems Inc COM 879433860 175880 5894094 SH Sole 4584446 1309648 169079 5666200 SH Defined 01 5666200 Texas Industries Inc. COM 882491103 4073 119200 SH Sole 64700 54500 122681 3590320 SH Defined 01 3590320 The Washington Post Company COM 939640108 44996 101301 SH Sole 96115 5186 124156 279517 SH Defined 01 279517 tw telecom inc. COM 87311L104 185662 10223674 SH Sole 7629327 2594347 267545 14732670 SH Defined 01 14732670 Walt Disney Company COM 254687106 1317869 37750486 SH Sole 31331101 6419385 594695 17035082 SH Defined 01 17035082 Wendy's/Arby's Group Inc. COM 950587105 125683 25136597 SH Defined 01 25136597 Willis Group Holdings PLC COM G96666105 194078 6202555 SH Sole 5014555 1188000 297130 9496000 SH Defined 01 9496000 Worthington Industries Inc. COM 981811102 1892 109400 SH Sole 109400 113785 6581000 SH Defined 01 6581000 Yum! Brands Inc. COM 988498101 1326241 34600595 SH Sole 28870595 5730000 625595 16321286 SH Defined 01 16321286 Level 3 Communications Inc. Co CONV 52729NBM1 133708 100062000 PRN Defined 01 100062000