13F-HR 1 f13f1209.txt 13F - DECEMBER 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: 12/31/2009 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 02/12/2010 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: 71 Form 13f Information Table Value Total: 21943083 (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 283751 7400918 SH Sole 6156918 1244000 245767 6410200 SH Defined 01 6410200 Bank of New York Mellon Corpor COM 064058100 230277 8233000 SH Sole 6848000 1385000 206614 7387000 SH Defined 01 7387000 Berkshire Hathaway Inc. Class COM 084670108 291450 2938 SH Sole 2433 505 284010 2863 SH Defined 01 2863 CEMEX S.A.B. de C.V. ADR COM 151290889 777204 65753261 SH Sole 53844178 11909083 451359 38186040 SH Defined 01 38186040 Chesapeake Energy Corporation COM 165167107 1318262 50937463 SH Sole 42949799 7987664 662439 25596576 SH Defined 01 25596576 Dell Inc. COM 24702R101 1266478 88194869 SH Sole 73607534 14587335 707423 49263465 SH Defined 01 49263465 Diageo Plc - ADR COM 25243Q205 25544 368013 SH Sole 368013 Dillard's Inc. COM 254067101 2804 152000 SH Sole 152000 166986 9050748 SH Defined 01 9050748 DineEquity Inc COM 254423106 5815 239400 SH Sole 127000 112400 72338 2978100 SH Defined 01 2978100 DIRECTV Cl A COM 25490A101 1988375 59621454 SH Sole 49855224 9766230 867324 26006724 SH Defined 01 26006724 Discovery Communications Inc. COM 25470F104 1319 43000 SH Sole 43000 Discovery Communications Serie COM 25470F302 82603 3114735 SH Sole 1616735 1498000 91111 3435550 SH Defined 01 3435550 Everest Re Group Ltd. COM G3223R108 359659 4197696 SH Sole 3157900 1039796 114383 1335000 SH Defined 01 1335000 Fair Isaac Corporation COM 303250104 48484 2275178 SH Sole 1101178 1174000 153781 7216400 SH Defined 01 7216400 FedEx Corporation COM 31428X106 304997 3654852 SH Sole 3009352 645500 244561 2930629 SH Defined 01 2930629 Ingersoll-Rand PLC COM G47791101 429 12000 SH Sole 12000 InterContinental Hotels Group COM 45857P301 8307 578102 SH Sole 397000 181102 Level 3 Communications Inc. COM 52729N100 361778 236456317 SH Sole 190700901 45755416 297520 194457754 SH Defined 01 194457754 Liberty Media Corporation Inte COM 53071M104 574405 52989359 SH Sole 43470609 9518750 351345 32411943 SH Defined 01 32411943 Markel Corporation COM 570535104 128463 377831 SH Sole 290898 86933 97920 288000 SH Defined 01 288000 Marriott International Inc. COM 571903202 262857 9646124 SH Sole 6826429 2819695 316187 11603201 SH Defined 01 11603201 Pioneer Natural Resources Comp COM 723787107 475148 9863975 SH Sole 7688475 2175500 609938 12662200 SH Defined 01 12662200 Potlatch Corporation COM 737630103 1371 43000 SH Sole 43000 92038 2887000 SH Defined 01 2887000 Royal Philips Electronics ADR COM 500472303 681542 23150210 SH Sole 19773410 3376800 204486 6945865 SH Defined 01 6945865 Ruddick Corporation COM 781258108 1263 49079 SH Sole 49079 79955 3107459 SH Defined 01 3107459 Service Corporation Internatio COM 817565104 2464 300900 SH Sole 300900 119645 14608716 SH Defined 01 14608716 Symantec Corporation COM 871503108 546426 30543648 SH Sole 27932986 2610662 Telephone and Data Systems Inc COM 879433100 24019 708100 SH Sole 602400 105700 51925 1530800 SH Defined 01 1530800 Telephone and Data Systems Inc COM 879433860 185428 6140004 SH Sole 4769867 1370137 171119 5666200 SH Defined 01 5666200 Texas Industries Inc. COM 882491103 1907 54500 SH Sole 54500 87968 2514100 SH Defined 01 2514100 The First American Corporation COM 318522307 1920 58000 SH Sole 58000 106083 3203969 SH Defined 01 3203969 The Washington Post Company COM 939640108 44532 101301 SH Sole 96115 5186 148521 337855 SH Defined 01 337855 tw telecom inc. COM 87311L104 164794 9608952 SH Sole 7050597 2558355 252665 14732670 SH Defined 01 14732670 Walt Disney Company COM 254687106 1256669 38966469 SH Sole 32304084 6662385 549381 17035082 SH Defined 01 17035082 Wendy's/Arby's Group Inc. COM 950587105 117891 25136597 SH Defined 01 25136597 Willis Group Holdings Limited COM G96655108 158293 6000500 SH Sole 4812500 1188000 258102 9784000 SH Defined 01 9784000 Worthington Industries Inc. COM 981811102 1665 127400 SH Sole 127400 86014 6581000 SH Defined 01 6581000 Yum! Brands Inc. COM 988498101 1178667 33705095 SH Sole 28016971 5688124 501836 14350458 SH Defined 01 14350458 Level 3 Communications Inc. Co CONV 52729NBM1 125077 100062000 PRN Defined 01 100062000