13F-HR 1 f13f0305.txt 13F HR UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 03/31/2005 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 05/13/05 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: 93 Form 13f Information Table Value Total: 19,447,991 (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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- Alltel Corp COM 020039103 30052 547900 SH SOLE 547900 Aon Corp COM 037389103 702467 30756007 SH SOLE 24005007 6751000 334081 14627000 SH DEFINED 01 14627000 891 39000 SH OTHER 39000 Cemex SA - ADR COM 151290889 763626 21065536 SH SOLE 17140836 3924700 478014 13186600 SH DEFINED 01 13186600 326 9000 SH OTHER 9000 Checkpoint Systems, Inc. COM 162825103 18160 1075800 SH SOLE 821900 253900 Comcast Corp Cl A COM 20030N101 128139 3793330 SH SOLE 2683482 1109848 56379 1668996 SH DEFINED 01 1668996 44 1294 SH OTHER 1294 Comcast Corp Special Cl A COM 20030N200 761493 22799186 SH SOLE 18385186 4414000 426151 12759000 SH DEFINED 01 12759000 885 26500 SH OTHER 26500 DIRECTV Group, Inc. COM 25459L106 807523 56000192 SH SOLE 46351177 9649015 396060 27466000 SH DEFINED 01 27466000 907 62908 SH OTHER 62908 Deltic Timber Corp COM 247850100 2166 55400 SH SOLE 55400 41524 1062000 SH DEFINED 01 1062000 Diageo Plc - ADR COM 25243Q205 31261 549400 SH SOLE 502400 47000 Everest Re Group Ltd. COM G3223R108 146942 1726500 SH SOLE 1562500 164000 60164 706900 SH DEFINED 01 706900 Fair Isaac Corporation COM 303250104 214 6200 SH SOLE 6200 FedEx Corp. COM 31428X106 526416 5603150 SH SOLE 4408550 1194600 500340 5325600 SH DEFINED 01 5325600 2242 23866 SH OTHER 23866 First Horizon National Corp COM 320517105 979 24000 SH SOLE 24000 General Motors COM 370442105 771766 26259481 SH SOLE 21013281 5246200 418514 14240000 SH DEFINED 01 14240000 818 27833 SH OTHER 27833 Hasbro Inc COM 418056107 248022 12128200 SH SOLE 8779600 3348600 137567 6727000 SH DEFINED 01 6727000 Hilb, Rogal & Hobbs Co. COM 431294107 2613 73000 SH SOLE 73000 126245 3526400 SH DEFINED 01 3526400 IHOP Corp. COM 449623107 44209 927200 SH SOLE 809200 118000 141996 2978100 SH DEFINED 01 2978100 Jacuzzi Brands, Inc. COM 469865109 36959 3786800 SH SOLE 2792500 994300 86367 8849100 SH DEFINED 01 8849100 Knight Ridder COM 499040103 249601 3711539 SH SOLE 3060839 650700 199954 2973300 SH DEFINED 01 2973300 726 10800 SH OTHER 10800 Koninklijke Philips Electronic COM 500472303 800474 29086997 SH SOLE 23415997 5671000 137739 5005034 SH DEFINED 01 5005034 1073 39000 SH OTHER 39000 Level 3 Communications COM 52729N100 108302 52573918 SH SOLE 39923763 12650155 222946 108226271SH DEFINED 01 108226271 Millea Holdings, Inc. ADR COM 60032R106 77212 1065000 SH SOLE 1065000 Molson Coors Brewing Co COM 60871R209 88190 1142800 SH SOLE 1091800 51000 218005 2825000 SH DEFINED 01 2825000 NTT Docomo, Inc. ADR COM 62942M201 50319 3004100 SH SOLE 2098100 906000 Neiman Marcus Group Class B COM 640204301 21254 235500 SH SOLE 235500 135194 1498000 SH DEFINED 01 1498000 Neiman-Marcus Group COM 640204202 81947 895500 SH SOLE 763500 132000 News Corp Inc. COM 65248E203 50773 2883196 SH SOLE 2647196 236000 104273 5921240 SH DEFINED 01 5921240 Nippon Telegraph and Telephone COM 654624105 22877 1047000 SH SOLE 764000 283000 Odyssey Re Holdings Corp COM 67612W108 7938 317000 SH SOLE 253400 63600 21129 843800 SH DEFINED 01 843800 PepsiAmericas. Inc. COM 71343P200 36816 1624700 SH SOLE 1404700 220000 119257 5262900 SH DEFINED 01 5262900 Pioneer Natural Resources Co. COM 723787107 211168 4943068 SH SOLE 3753468 1189600 369148 8641100 SH DEFINED 01 8641100 769 18000 SH OTHER 18000 Ruddick Corp. COM 781258108 78573 3394100 SH DEFINED 01 3394100 Saks, Inc. COM 79377W108 461470 25566200 SH SOLE 19525500 6040700 Shaw Communications, Inc. Clas COM 82028K200 221755 10881000 SH SOLE 7772700 3108300 336792 16525600 SH DEFINED 01 16525600 Telephone & Data Systems, Inc. COM 879433100 650655 7973715 SH SOLE 5902915 2070800 293638 3598500 SH DEFINED 01 3598500 734 9000 SH OTHER 9000 USI Holdings Corp COM 90333H101 595 50500 SH SOLE 50500 28096 2385076 SH DEFINED 01 2385076 Vail Resorts, Inc. COM 91879Q109 25773 1020717 SH DEFINED 01 1020717 Vivendi Universal ADR COM 92851S204 713672 23322610 SH SOLE 18536410 4786200 126742 4141900 SH DEFINED 01 4141900 1346 44000 SH OTHER 44000 Walt Disney Company COM 254687106 1002695 34900637 SH SOLE 27971637 6929000 530499 18465000 SH DEFINED 01 18465000 1322 46000 SH OTHER 46000 Waste Management, Inc. COM 94106L109 642176 22259128 SH SOLE 17491328 4767800 293148 10161100 SH DEFINED 01 10161100 1042 36132 SH OTHER 36132 Willis Group Holdings Ltd COM G96655108 126575 3433000 SH SOLE 3030000 403000 132216 3586000 SH DEFINED 01 3586000 Yum! Brands, Inc. COM 988498101 884673 17075328 SH SOLE 14161328 2914000 637159 12298000 SH DEFINED 01 12298000 1762 34000 SH OTHER 34000 Fairfax Financial Holdings Ltd COM 303901102 323798 2168180 SH SOLE 1686380 481800 268216 1796000 SH DEFINED 01 1796000 Level 3 Communications, Inc. C CONV 52729NAG5 9618 18630000 PRN SOLE 9950000 8680000 54704 105964000PRN DEFINED 01 105964000 Level 3 Communications, Inc. C CONV 52729NAS9 23420 45810000 PRN SOLE 28710000 17100000 5521 10800000 PRN DEFINED 01 10800000