13F-HR 1 f13f0308.txt 13F - SAM MARCH 2008 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 03/31/2008 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 05/13/2008 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: 113 Form 13f Information Table Value Total: 30897467 (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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- Allied Irish Banks plc ADR COM 019228402 12125 280800 SH Sole 197800 83000 Aon Corporation COM 037389103 715015 17786433 SH Sole 14929933 2856500 469057 11668090 SH Defined 01 11668090 844 21000 SH Other 21000 CEMEX S.A.B. de C.V. ADR COM 151290889 1074020 41118685 SH Sole 35737216 5381469 641037 24542000 SH Defined 01 24542000 692 26491 SH Other 26491 Chesapeake Energy Corporation COM 165167107 1040224 22540059 SH Sole 19496059 3044000 642140 13914200 SH Defined 01 13914200 785 17000 SH Other 17000 Del Monte Foods Company COM 24522P103 2217 232663 SH Sole 232663 149862 15725283 SH Defined 01 15725283 Dell Inc. COM 24702R101 1500916 75347211 SH Sole 64527212 10819999 1070937 53761917 SH Defined 01 53761917 1036 52000 SH Other 52000 Dillard's Inc. COM 254067101 2327 135240 SH Sole 135240 155763 9050748 SH Defined 01 9050748 DIRECTV Group Inc. COM 25459L106 1220975 49252733 SH Sole 41550525 7702208 565482 22810900 SH Defined 01 22810900 796 32108 SH Other 32108 Discovery Holding Company COM 25468Y107 107279 5055579 SH Sole 4789379 266200 74620 3516505 SH Defined 01 3516505 129 6100 SH Other 6100 EBay Inc. COM 278642103 948500 31786179 SH Sole 27126803 4659376 534227 17903050 SH Defined 01 17903050 698 23400 SH Other 23400 Everest Re Group Ltd. COM G3223R108 271043 3027400 SH Sole 2717000 310400 137975 1541100 SH Defined 01 1541100 Fair Isaac Corporation COM 303250104 2023 94000 SH Sole 94000 133338 6196000 SH Defined 01 6196000 FedEx Corporation COM 31428X106 677556 7311492 SH Sole 6029492 1282000 517886 5588501 SH Defined 01 5588501 667 7200 SH Other 7200 General Motors Corporation COM 370442105 511822 26867300 SH Sole 22653600 4213700 271272 14240000 SH Defined 01 14240000 400 21000 SH Other 21000 Hilb Rogal & Hobbs Company COM 431294107 2297 73000 SH Sole 73000 110976 3526400 SH Defined 01 3526400 IDT Corporation COM 448947101 21 6300 SH Sole 6300 1534 459400 SH Defined 01 459400 IDT Corporation Cl B COM 448947309 606 156550 SH Sole 156550 39216 10133310 SH Defined 01 10133310 IHOP Corp. COM 449623107 15251 318400 SH Sole 219000 99400 142651 2978100 SH Defined 01 2978100 Ingersoll-Rand Company Limited COM G4776G101 378861 8498447 SH Sole 7960647 537800 225040 5048000 SH Defined 01 5048000 Kyocera Corporation ADR COM 501556203 7818 93000 SH Sole 49000 44000 Level 3 Communications Inc. COM 52729N100 523200 246792596 SH Sole 200967416 45825180 436823 206048754 SH Defined 01 206048754 78 37000 SH Other 37000 Liberty Media Corp Entertainme COM 53071M500 949738 41949568 SH Sole 36834168 5115400 565140 24962000 SH Defined 01 24962000 702 31000 SH Other 31000 Liberty Media Corporation Capi COM 53071M302 164933 10478567 SH Sole 9178717 1299850 98225 6240500 SH Defined 01 6240500 122 7750 SH Other 7750 Liberty Media Corporation Inte COM 53071M104 952618 59022190 SH Sole 50855940 8166250 516522 32002600 SH Defined 01 32002600 718 44500 SH Other 44500 Markel Corporation COM 570535104 2741 6231 SH Sole 6231 141629 321905 SH Defined 01 321905 Odyssey Re Holdings Corp. COM 67612W108 59535 1620000 SH Sole 1025000 595000 31010 843800 SH Defined 01 843800 Office Depot Inc. COM 676220106 20487 1854005 SH Sole 1681227 172778 142564 12901759 SH Defined 01 12901759 Pioneer Natural Resources Comp COM 723787107 534443 10880357 SH Sole 8485857 2394500 621967 12662200 SH Defined 01 12662200 786 16000 SH Other 16000 Potlatch Corporation COM 737630103 2334 56545 SH Sole 56545 148784 3605140 SH Defined 01 3605140 Royal Philips Electronics ADR COM 500472303 699802 18252528 SH Sole 15556928 2695600 173658 4529434 SH Defined 01 4529434 767 20000 SH Other 20000 Ruddick Corporation COM 781258108 1725 46800 SH Sole 46800 177794 4823500 SH Defined 01 4823500 Service Corporation Internatio COM 817565104 1968 194100 SH Sole 194100 123927 12221571 SH Defined 01 12221571 SK Telecom Co. Ltd. ADR COM 78440P108 253588 11734773 SH Sole 10436073 1298700 108603 5025568 SH Defined 01 5025568 Sun Microsystems Inc. COM 866810203 397588 25601279 SH Sole 22234554 3366725 455091 29303996 SH Defined 01 29303996 316 20350 SH Other 20350 Symantec Corporation COM 871503108 706681 42519897 SH Sole 35732897 6787000 195365 11754800 SH Defined 01 11754800 681 41000 SH Other 41000 Telephone and Data Systems Inc COM 879433100 66464 1692500 SH Sole 1457700 234800 60115 1530800 SH Defined 01 1530800 236 6000 SH Other 6000 Telephone and Data Systems Inc COM 879433860 410582 11007547 SH Sole 8837410 2170137 211349 5666200 SH Defined 01 5666200 224 6000 SH Other 6000 Texas Industries Inc. COM 882491103 2801 46600 SH Sole 46600 195045 3244800 SH Defined 01 3244800 The Washington Post Company COM 939640108 9586 14491 SH Sole 9205 5286 232958 352167 SH Defined 01 352167 UBS AG (new) COM H89231338 802869 27877400 SH Sole 23927100 3950300 480109 16670439 SH Defined 01 16670439 403 14000 SH Other 14000 Walgreen Co. COM 931422109 137162 3601000 SH Sole 2935100 665900 488085 12814000 SH Defined 01 12814000 Walt Disney Company COM 254687106 1030297 32832934 SH Sole 27248434 5584500 486070 15489800 SH Defined 01 15489800 910 29000 SH Other 29000 Wendy's International Inc. COM 950590109 139790 6062000 SH Defined 01 6062000 Willis Group Holdings Limited COM G96655108 156236 4648500 SH Sole 4153500 495000 204987 6099000 SH Defined 01 6099000 Worthington Industries Inc. COM 981811102 2149 127400 SH Sole 127400 135540 8034400 SH Defined 01 8034400 Yum! Brands Inc. COM 988498101 581022 15614678 SH Sole 13491354 2123324 665845 17894252 SH Defined 01 17894252 967 26000 SH Other 26000 Fairfax Financial Holdings Lim COM 303901102 405331 1391400 SH Sole 1203315 188085 397720 1365275 SH Defined 01 1365275