13F-HR 1 f13f0910.txt 13F-SEPTEMBER 30, 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: 09/30/2010 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 11/12/2010 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: 80 Form 13f Information Table Value Total: 22371384 (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 512502 13104114 SH Sole 10278114 2826000 408418 10442812 SH Defined 01 10442812 Bank of New York Mellon Corpor COM 064058100 409330 15665123 SH Sole 12627123 3038000 354610 13571000 SH Defined 01 13571000 Campbell Soup Company COM 134429109 333976 9341995 SH Sole 7478995 1863000 342992 9594179 SH Defined 01 9594179 CEMEX S.A.B. de C.V. ADR COM 151290889 720569 84772837 SH Sole 68434641 16338196 418376 49220680 SH Defined 01 49220680 Chesapeake Energy Corporation COM 165167107 1258362 55556829 SH Sole 46564787 8992042 579762 25596576 SH Defined 01 25596576 Dell Inc. COM 24702R101 1179339 90928234 SH Sole 75399699 15528535 658285 50754465 SH Defined 01 50754465 Diageo Plc - ADR COM 25243Q205 18496 268022 SH Sole 268022 Dillard's Inc. COM 254067101 2570 108717 SH Sole 108717 163346 6909748 SH Defined 01 6909748 DineEquity Inc COM 254423106 10183 226400 SH Sole 127000 99400 133955 2978100 SH Defined 01 2978100 DIRECTV Cl A COM 25490A101 1664970 39994474 SH Sole 32790006 7204468 696734 16736333 SH Defined 01 16736333 Everest Re Group Ltd. COM G3223R108 357540 4134848 SH Sole 3102200 1032648 115437 1335000 SH Defined 01 1335000 Fair Isaac Corporation COM 303250104 52774 2140083 SH Sole 1000383 1139700 177956 7216400 SH Defined 01 7216400 FedEx Corporation COM 31428X106 393082 4597452 SH Sole 3729452 868000 313753 3669629 SH Defined 01 3669629 InterContinental Hotels Group COM 45857P301 14202 791660 SH Sole 400855 390805 2274 126728 SH Defined 01 126728 Level 3 Communications Inc. COM 52729N100 248272 264879784 SH Sole 218366178 46513606 201415 214888754 SH Defined 01 214888754 Liberty Media Corporation Inte COM 53071M104 527234 38456197 SH Sole 30899728 7556469 335350 24460224 SH Defined 01 24460224 Loews Corporation COM 540424108 465776 12289600 SH Sole 10377600 1912000 356082 9395300 SH Defined 01 9395300 Markel Corporation COM 570535104 176260 511507 SH Sole 389710 121797 99242 288000 SH Defined 01 288000 Martin Marietta Materials Inc. COM 573284106 226782 2946369 SH Sole 2395069 551300 113762 1478000 SH Defined 01 1478000 Pioneer Natural Resources Comp COM 723787107 401274 6170591 SH Sole 4718791 1451800 616413 9478900 SH Defined 01 9478900 Potlatch Corporation COM 737630103 1297 38142 SH Sole 38142 89323 2627155 SH Defined 01 2627155 Royal Philips Electronics ADR COM 500472303 145585 4648299 SH Sole 3446499 1201800 106699 3406731 SH Defined 01 3406731 Ruddick Corporation COM 781258108 1702 49079 SH Sole 49079 107767 3107459 SH Defined 01 3107459 Sealed Air Corporation COM 81211K100 65731 2923959 SH Defined 01 2923959 Service Corporation Internatio COM 817565104 133760 15517400 SH Sole 11930500 3586900 124533 14447000 SH Defined 01 14447000 Shanda Games Limited - ADR COM 81941U105 11385 2124000 SH Sole 2124000 20899 3899000 SH Defined 01 3899000 Shanda Interactive Entertainme COM 81941Q203 12489 319000 SH Sole 319000 25408 649000 SH Defined 01 649000 Symantec Corporation COM 871503108 401436 26532471 SH Sole 24055809 2476662 Telephone and Data Systems Inc COM 879433100 18506 564200 SH Sole 523400 40800 50210 1530800 SH Defined 01 1530800 Telephone and Data Systems Inc COM 879433860 137387 4846094 SH Sole 3536446 1309648 160637 5666200 SH Defined 01 5666200 Texas Industries Inc. COM 882491103 5311 168500 SH Sole 105000 63500 138383 4390320 SH Defined 01 4390320 The Travelers Companies Inc. COM 89417E109 230256 4419500 SH Sole 3641500 778000 352715 6769960 SH Defined 01 6769960 The Washington Post Company COM 939640108 39662 99301 SH Sole 95115 4186 115429 289000 SH Defined 01 289000 tw telecom inc. COM 87311L104 253758 13664965 SH Sole 11096618 2568347 251208 13527621 SH Defined 01 13527621 Verizon Communications Inc. COM 92343V104 62573 1920000 SH Sole 1168000 752000 Vodafone Group Plc ADR COM 92857W209 156092 6291479 SH Sole 5001479 1290000 41711 1681235 SH Defined 01 1681235 Vulcan Materials Company COM 929160109 30581 828300 SH Sole 627300 201000 166686 4514800 SH Defined 01 4514800 Walt Disney Company COM 254687106 1048692 31682551 SH Sole 25880426 5802125 480281 14510000 SH Defined 01 14510000 Wendy's/Arby's Group Inc. COM 950587105 122704 27087000 SH Defined 01 27087000 Willis Group Holdings PLC COM G96666105 187178 6073255 SH Sole 4885255 1188000 276856 8983000 SH Defined 01 8983000 Worthington Industries Inc. COM 981811102 1644 109400 SH Sole 109400 98912 6581000 SH Defined 01 6581000 Yum! Brands Inc. COM 988498101 1009627 21919821 SH Sole 17948134 3971687 512394 11124483 SH Defined 01 11124483 Level 3 Communications Inc. Co CONV 52729NBM1 112320 100062000 PRN Defined 01 100062000