10 Best Dividend Stocks to Buy According to Mason Hawkins’ Southeastern Asset Management

Published June 30, 2021 at 10:54 am EDT Updated August 19, 2026 at 5:05 am EDT

In this article, we will discuss the 10 best dividend stocks to buy according to Mason Hawkins’ Southeastern Asset Management.

Mason Hawkins is an American hedge fund manager and value investor. In 1975, Mason Hawkins joined hands with three partners and founded Southeastern Asset Management. Southeastern Asset Management provides investment management services, which entail financial planning advice, quantitative analysis, portfolio management, and investment advisory services.

In 1989, Hawkins started working for Longleaf Partners Small-Cap Fund as a co-portfolio manager. The Longleaf fund is named after the longleaf pine tree that Hawkins’ parents brought up as they ran their family lumber business.

Hawkins invests specifically in highly-discounted businesses with a strong balance sheet. He mainly buys stocks at 60% or less than their intrinsic value. The fund offers investment advisory, financial planning, quantitative analysis, consulting, and portfolio management services.

Southeastern Fund’s Q1 portfolio has a worth of $4.675 billion as of the first quarter of 2021. Also, Southeastern fund performance in the first quarter of 2021 was 8.07%, while in the last four quarters it was 78.84%.

Mason Hawkins initiated a new stake in Alibaba Group (NYSE: BABA) in the first quarter of 2021, buying 357,571 shares of the company, worth $81.07 million. On April 9, CICC analyst Junhao Fan initiated a coverage on Alibaba Group (NYSE: BABA) , rating it as “Outperform.” On May 13, Alibaba Group declared its first quarter 2021 revenue of RMB187.4 billion, up 63.9% YoY, beating the estimates by RMB6.73 billion.

Southeastern Asset Management also has a $165.19 million stake in Baidu, Inc. (NASDAQ: BIDU). On June 17, Baidu, Inc. announced that it partnered with BAIC Group’s EV brand ARCFOX to jointly release Apollo Moon, a new generation of self-driving taxis that are set to be produced on a large scale. It will cost RMB 480,000 per-unit. On May 18, the company declared its first quarter 2021 earnings. The company declared earnings per share of RMB12.38, beating the market predictions by RMB1.63. The company also declared its quarterly revenue of RMB28.14 billion, up 24.8% YoY, beating the estimates by RMB980 million. On April 13, OTR Global upgraded Baidu from “Mixed” to “Positive.”

Mason Hawkins also initiated a new stake in Biogen Inc. (NASDAQ: BIIB) in the first quarter of 2021, buying 603,890 shares of the biotechnology company, worth $168.94 million. On June 23, Eisai Co., Ltd., and Biogen Inc. declared that the U.S. Food and Drug Administration granted accelerated approval for lecanemab, which is used for the treatment of Alzheimer’s disease. On June 18, Piper Sandler upgraded the stock to “Overweight” from “Neutral,” raising the price target to $450 from $384. On May 21, Biogen announced that it collaborated with Ginkgo Bioworks. This partnership will allow Biogen access Ginkgo’s cell programming platform and capabilities by making an advance payment of $5 million to Ginkgo Bioworks.

The demand for dividend stocks has also been gaining traction as more people look for consistent revenue sources now that there is so much market uncertainty. Finding the best dividend stocks is not exactly a walk in the park, and it requires a lot of research. Even the hedge funds are struggling at finding valuable stocks amid the increasing financial volatility. The entire hedge fund industry is feeling the reverberations of the changing financial landscape. Its reputation has been tarnished in the last decade, during which its hedged returns couldn’t keep up with the unhedged returns of the market indices. On the other hand, Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 124 percentage points since March 2017. Between March 2017 and February 26, 2021, our monthly newsletter’s stock picks returned 197.2%, vs. 72.4% for the SPY. Our stock picks outperformed the market by more than 124 percentage points (see the details here). We were also able to identify in advance a select group of hedge fund holdings that significantly underperformed the market. We have been tracking and sharing the list of these stocks since February 2017, and they lost 13% through November 16. That’s why we believe hedge fund sentiment is a handy indicator that investors should consider. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.

10 Best Dividend Stocks to Buy According to Mason Hawkins' Southeastern Asset Management

Mason Hawkins of Southeastern Asset Management

With this context and industry outlook in mind, let’s start our list of the 10 best dividend stocks to buy according to Mason Hawkins’ Southeastern Asset Management

Best Dividend Stocks to Buy According to Mason Hawkins’ Southeastern Asset Management

10. General Electric Company (NYSE: GE)

Hawkins’ Stake Value: $284,368,000
Percentage of Mason Hawkins’ 13F Portfolio: 6.08%
Dividend Yield: 0.31%
Number of Hedge Fund Holders: 68

General Electric Company (NYSE: GE) is a high-tech industrial company. The company operates in the following segments: aviation, health protection, power, renewable energy, cyber industry, and finance. General Electric was founded in 1878 and is placed tenth on the list of 10 best dividend stocks to buy according to Mason Hawkins’ Southeastern Asset Management. General Electric Company has returned 103.09% to investors during the course of the past twelve months.

Just like Alibaba Group (NYSE: BABA), Baidu, Inc. (NASDAQ:BIDU), and Biogen Inc., General Electric Company is one of the best stocks to buy according to Mason Hawkins. On June 18, General Electric Company declared a quarterly dividend of $0.01 per share in line with the previous. The dividend yield is 0.31%. On May 14, Andrew Kaplowitz, an analyst at Citi, initiated coverage on General Electric, rating the stock as “Buy,” with a price target of $17.00.

The hedge fund run by Mason Hawkins owns 21.66 million General Electric Company shares worth $284.37 million, representing 6.08% of their investment portfolio. Eagle Capital Management is the company’s most significant stakeholder, with 113.04 million shares worth $1.48 billion.

Vulcan Value Partners, in its Q1 2021 investor letter, mentioned General Electric Company. Here is what Vulcan Value Partners has to say about General Electric Company in its letter:

“General Electric is outperforming our expectations for 2021 as the economic recovery is occurring faster than expected. We are particularly pleased with its free cash flow generation. We are happy to own it in our portfolio.”

9. CNH Industrial N.V. (NYSE: CNHI)

Hawkins’ Stake Value: $41,567,000
Percentage of Mason Hawkins’ 13F Portfolio: 0.88%
Dividend Yield: 0.82%
Number of Hedge Fund Holders: 23

CNH Industrial N.V. (NYSE: CNHI) designs, manufactures, advertises, sells, and finances agricultural and construction equipment, globally. The company was incorporated in 1892 and stands ninth on the list of 10 best dividend stocks to buy according to Mason Hawkins’ Southeastern Asset Management. CNH Industrial N.V. currently has a $22.39 billion market capitalization. It delivered a return of 145.43% in the past 12 months.

On June 21, CNH Industrial N.V. entered into an agreement to acquire 100% of Raven Industries’ capital stock for $58 per share. On May 7, Bank of America added CNH Industrial to its US 1 List. The US 1 list represents assembling of its best financing ideas that are drawn from the universe of Buy-rated, US-listed stocks, covered by BofA Global Research fundamental equity research analysts. On March 4, CNH Industrial declared an annual dividend of EUR 0.11 per share.

Southeastern Asset Management holds 2.66 million shares of the company, worth $41.57 million. In the first quarter of 2021, 23 hedge funds in the database of Insider Monkey held stakes worth $739.95 million in CNH Industrial N.V., up from 16 the preceding quarter worth $442.79 million.

In its first quarter 2021 investor letter, Longleaf Partners Fund highlighted a few stocks, and CNH Industrial N.V. was one of them. Here is what the fund said:

“CNH Industrial (CNH) (23%, 1.19%), one of the world’s largest agriculture machinery manufacturers, was another top contributor. CNH reported strong fourth quarter results, beating the consensus on every metric. The Agricultural Equipment (Ag) business, which represents the majority of our value, posted strong top-line growth of 19% YoY thanks to rising commodity prices, growing trade with China and the replacement of aging machinery fleets. Visibility for the first half of 2021 is strong, given solid Ag order growth across most key end markets, and we expect to see operational turnarounds in CNH’s other businesses. The company is also guiding 8-12% industrial sales growth for 2021, which is better than our initial expectation. The most positive surprise for the quarter was the company’s strong cash generation. CNH generated approximately $2.4bn FCF in the fourth quarter alone, driven by working capital release leading to a strong net cash position for the industrial segment. Due to the recent stock price appreciation, the price-to-value gap has narrowed, but we continue to have a positive view given a more favorable market outlook, the company’s strong execution capability and management’s continued commitments to value accretive transactions, including the planned splitting of the business and potentially other strategic asset sales.”

8. FedEx Corporation (NYSE: FDX)

Hawkins’ Stake Value: $240,456,000
Percentage of Mason Hawkins’ 13F Portfolio: 5.14%
Dividend Yield: 1.01%
Number of Hedge Fund Holders: 63

FedEx Corporation (NYSE: FDX) provides transportation, electronic commerce, and business services globally. The company was founded in 1971 and ranks eighth on the list of 10 best dividend stocks to buy according to Mason Hawkins’ Southeastern Asset Management. FedEx Corporation currently has an $80.58 billion market capitalization and was able to deliver a 124.39% returns in the past 12 months.

FedEx Corporation has also paid consistent dividends since 2002. On June 14, the company declared a quarterly dividend of $0.75 per share, in line with the previous. The forward yield is 1.01%. On June 24, the company declared its earnings per share for the first quarter 2021. The company declared earnings per share of $5.01, beating the market predictions by $0.01. FedEx quarterly revenue was $22.6 billion, up 29.9% YoY, beating the estimates by $1.06 billion.

Just like Comcast Corporation (NASDAQ: CMCSA), Alibaba Group (NYSE: BABA), Baidu, Inc. (NASDAQ: BIDU) and Biogen Inc., FedEx Corporation is one of the best stocks to buy according to Mason Hawkins.

In the first quarter 2021, 63 hedge funds in the database of Insider Monkey held stakes worth $2.26 billion in FedEx, same as the preceding quarter worth $2.01 billion.

Artisan Partners, in its first quarter 2021 investor letter, mentioned FedEx Corporation. Here is what Artisan Partners has to say about FedEx Corporation in its letter:

“Whatever products did make it off the line met a constrained logistics infrastructure, with commercial air capacity cut and ship cargo space at a premium. Then, in the event your dishwasher part actually made it to US waters, our ports were congested due to manpower shortages and COVID-19 protocols. When the goods were finally unloaded, it turns out trucking shortages caused a spike in ground rates! All this might be bad for your dinner parties, home décor or exercise goals, but it can be great for the middlemen. Middlemen like logistics expert FedEx.

FedEx Corporation provides global logistics services. It gets your dishwasher part on a truck, or that semiconductor chip on a plane. Surging demand for at-home deliveries during the pandemic boosted volumes and allowed management to push through price increases, keeping competitive with industry peers. The industry’s renewed pricing discipline was a welcome change, reflecting a broader commitment to earn better returns on invested capital. Despite a significant re-rating of the business over the last 12 months, FedEx remains attractive based on our margin of safety criteria.”

7. Empire State Realty Trust, Inc. (NYSE: ESRT)

Hawkins’ Stake Value: $142,220,000
Percentage of Mason Hawkins’ 13F Portfolio: 3.04%
Dividend Yield: 1.14%
Number of Hedge Fund Holders: 11

Empire State Realty Trust, Inc. (NYSE: ESRT) is a leading real estate investment trust. It was incorporated in 2013 and is placed seventh on the list of 10 best dividend stocks to buy according to Mason Hawkins’ Southeastern Asset Management. Empire State Realty Trust, Inc. stock has offered investors 85.12% in returns in the past year.

Just like FedEx Corporation, Comcast Corporation, Alibaba Group (NYSE: BABA), Baidu, Inc. (NASDAQ: BIDU) and Biogen Inc., Empire State Realty Trust, Inc. is one of the best stocks to buy according to Mason Hawkins. On May 17, the company declared a quarterly dividend of $0.035 per share in line with the previous. On June 14, Wolfe Research analyst Andrew Rosivach initiated a coverage on Empire State Realty with an “Outperform” rating and a price target of $16.00.

Southeastern Asset Management holds 12.78 million shares in the company worth over $142.22 million, representing 3.04% of their portfolio.

In its first quarter 2021 investor letter, Longleaf Partners Small-Cap Fund highlighted a few stocks, and Empire State Realty Trust, Inc. was one of them. Here is what the fund said:

“Empire State Realty Trust (19%, 1.23%), the New York City property owner, also contributed to strong performance. Quarterly results were resilient, with occupancy remaining in the high-80s% in a challenging environment and Empire State Building observatory volumes slowly improving while gaining share from competing attractions. The company repurchased discounted shares at a 5% annualized pace. The stock still trades at a low multiple of earnings power and a 30%+ discount to our appraisal. CEO Tony Malkin shared his expectation that the depressed New York City market will recover in occupancy and pricing from 2022.”

6. Comcast Corporation (NASDAQ: CMCSA)

Hawkins’ Stake Value: $251,772,000
Percentage of Mason Hawkins’ 13F Portfolio: 5.38%
Dividend Yield: 1.8%
Number of Hedge Fund Holders: 88

Comcast Corporation functions as a media and technology company globally. Comcast Corporation was incorporated in 1963 and is ranked sixth on the list of 10 best dividend stocks to buy according to Mason Hawkins’ Southeastern Asset Management. Comcast Corporation has returned 45.98% to investors over the past year.

Comcast is indeed a solid dividend-paying pick as the company has been paying a dividend since 1988. On May 25, Comcast Corporation declared a quarterly dividend of $0.25 per share, in line with the previous. On April 30, Timothy Horan, an analyst at Oppenheimer, initiated a coverage on Comcast Corporation. He rated the stock as “Outperform” and set the price target to $75.00.

Just like Alibaba Group (NYSE: BABA), Baidu, Inc. (NASDAQ: BIDU) and Biogen Inc., Comcast Corporation is one of the best stocks to buy according to Mason Hawkins.

Eagle Capital Management is the company’s most significant stakeholder, with 38.13 million shares worth $2.06 billion. The company is getting the attention of the smart money, as 88 hedge funds tracked by Insider Monkey reported owning stakes in the company in the first quarter of 2021, up from 84 funds in the fourth quarter of 2020.

Harding Loevner, in their first quarter 2021 investor letter, mentioned Comcast Corporation. Here is what the fund said:

“Comcast is the Largest cable provider in t he U.S. and is the dominant internet access provider in the markets it serves. Though Comcast will likely see further declines in cable subscriptions due to ongoing cord-cutting, it should be able to off set that lost revenue by growing internet access customers and instituting higher pricing. The pandemic has increased the importance of a fast internet connection, with more content streaming to homes at increasingly higher quality. Comcast made significant upgrades early on, allowing it to quickly deploy new technology and increase speeds to meet the evolving needs of its customers.”

5. Everest Re Group, Ltd. (NYSE: RE)

Hawkins’ Stake Value: $99,422,000
Percentage of Mason Hawkins’ 13F Portfolio: 2.12%
Dividend Yield: 2.52%
Number of Hedge Fund Holders: 32

Everest Re Group, Ltd. (NYSE: RE) provides reinsurance and insurance products globally. The company was founded in 1973 and is placed fifth on the list of 10 best dividend stocks to buy according to Mason Hawkins’ Southeastern Asset Management. Everest currently has a $10.13 billion market capitalization and was able to deliver a 27.06% return in the past 12 months.

On April 28, Everest Re Group, Ltd. posted earnings for the first quarter of 2021. The company reported earnings per share of $6.49, beating market predictions by $1.96. Everest Re quarterly revenue was $2.74 billion, up 38.4% YoY, beating the estimates by $290 million. The company has a good dividend track report and has consistently declared dividends for the last 10 years. On May 13, Everest declared a quarterly dividend of $1.55 per share.

Southeastern Asset Management holds 401,202 shares in the firm worth $99.42 million. This represents 2.12% of their portfolio. In the first quarter of 2021, 32 hedge funds in the database of Insider Monkey held stakes worth $520.80 million in Everest Re Group, up from 29 the preceding quarter worth $475.25 million.

Miller/Howard Investments, in their first quarter 2021 investor letter, mentioned Everest Re Group, Ltd.. Here is what the fund said:

“We bought two new financials this quarter (including), Everest Re (RE). Both were selling at a discount to book value and should benefit from the improving economy, in our opinion.”

4. Douglas Emmett, Inc. (NYSE: DEI)

Hawkins’ Stake Value: $125,422,000
Percentage of Mason Hawkins’ 13F Portfolio: 2.68%
Dividend Yield: 3.2%
Number of Hedge Fund Holders: 14

Douglas Emmett, Inc. (NYSE: DEI) is a self-managed real estate investment trust. The company was founded in 1971 and is ranked fourth on the list of 10 best dividend stocks to buy according to Mason Hawkins’ Southeastern Asset Management. Douglas shares have gained about 15.10% in value over the last 12 months.

On June 3, Mizuho Securities analyst Omotayo Okusanya upgraded Douglas Emmett Inc. (NYSE: DEI) from “Neutral” to “Buy” with a price target of $40.00. On May 27, the company declared its quarterly dividend of $0.28 per share, in line with the previous. On May 4, the company declared its funds from operations (FFO) for the first quarter of 2021. It posted funds from operations (FFO) of $0.44, beating the market predictions by $0.02.

Southeastern Asset Management holds 3.99 million shares in the company worth $125.42 million, representing 2.68% of their portfolio. Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm First Eagle Investment Management is a leading shareholder in Douglas Emmett, Inc. with 6.91 million shares worth $216.98 million.

Baron Partners Fund, in its third quarter 2020 investor letter, mentioned Douglas Emmett. Here is what Baron Partners Fund has to say about Douglas Emmett in its letter:

“Douglas Emmett, Inc. is a REIT with a portfolio of office and apartment properties located in west Los Angeles and Hawaii. The stock fell on investor concerns that a portion of tenants would be unable to pay rent in a timely manner (in some instances as a result of new municipal laws). We retain conviction owing to Douglas Emmett’s irreplaceable portfolio, attractive sub-markets, and low debt levels.”

3. Lazard Ltd (NYSE: LAZ)

Hawkins’ Stake Value: $206,587,000
Percentage of Mason Hawkins’ 13F Portfolio: 4.41%
Dividend Yield: 4.22%
Number of Hedge Fund Holders: 19

Lazard Ltd (NYSE: LAZ) functions as a financial counselor and fund management firm. The company was incorporated in 1848 and is placed third on the list of 10 best dividend stocks to buy according to Mason Hawkins’ Southeastern Asset Management. Lazard stock has offered investors returns of 68.93% over the course of the past twelve months.

On April 7, Manan Gosalia, an analyst at Morgan Stanley, initiated coverage on Lazard Ltd, rating the stock as “Overweight,” with a price target of $61.00. On April 29, Lazard declared a quarterly dividend of $0.47 per share, in line with the previous. The forward yield is 4.22%. On June 10, Lazard announced its May preliminary AUM of ~$278.6 billion, which was 1.5% more than its prior month’s preliminary AUM of $274.4 billion.

Southeastern Asset Management holds 4.75 million shares of the company worth $206.59 million. Ariel Investments is the company’s most significant stakeholder, with 6.95 million shares worth $302.35 million.

Third Avenue Management, in their fourth quarter 2020 investor letter, mentioned Lazard Ltd. Here is what the fund said:

“Lazard Ltd. (“Lazard”) – During the quarter, the Fund initiated a position in Lazard, which houses two distinct businesses – financial advisory and asset management. Lazard is one of the formidable competitors in the global financial advisory industry, though Lazard is not involved in investment banking lines of business which are balance sheet-intensive or those which take on credit risk. Lazard’s advisory business is the world’s fifth largest by revenues, putting the company’s advisory business on par with those of far larger companies, such as Bank of America and Citi. Meanwhile, Lazard’s advisory revenues are meaningfully larger than the likes of Credit Suisse and UBS. While advisory revenues represent a low single-digit percentage of revenues for those peers, the figure is slightly more than 50% for Lazard. One further point of attraction for Lazard’s advisory business is its sterling reputation in restructuring advisory, which often shines in challenging environments in which insolvencies and near-insolvencies rise. The remaining portion of Lazard’s revenue is derived from the company’s asset management business, which operates completely independent of the advisory business and at last report had approximately $248 billion of assets under management. Lazard’s assets under management are focused on several niches in active management commanding management fees at the higher end of the industry, and the performance of its strategies has been sufficiently strong to have generated inflows of late, an unusual accomplishment for an active manager. The company in total is very well-capitalized and has a long history of controlling the relationship between compensation, its primary expense, and revenue. We believe that our purchase price implies a modest multiple of current operating earnings and that the operating environment can certainly improve, most likely as M&A activity continues to accelerate, but from other sources as well. External to the company however, it is clear that there are a number of companies that would almost certainly be very eager to purchase one or both of Lazard’s businesses. Consolidation is rampant in the asset management industry and several purchases of asset management companies of similar size to Lazard, though arguably of lower quality, have been announced recently. Separately, several European investment banks, including ones named earlier in this paragraph, have publicly declared a desire to grow their advisory businesses, especially in cross-border M&A capabilities, which is a core competency within Lazard. Using conservative estimates of prices we believe could be realized in the sale of Lazard’s businesses, the current share price appears to meaningfully undervalue the company.”

2. The Williams Companies, Inc. (NYSE: WMB)

Hawkins’ Stake Value: $195,703,000
Percentage of Mason Hawkins’ 13F Portfolio: 4.18%
Dividend Yield: 6.14%
Number of Hedge Fund Holders: 34

The Williams Companies, Inc. (NYSE: WMB) is an American energy infrastructure company. The company was incorporated in 1908 and is ranked second on the list of 10 best dividend stocks to buy according to Mason Hawkins’ Southeastern Asset Management. The Williams Companies Capital currently has a $32.52 billion market capitalization and was able to deliver a 44.68% returns in the past 12 months.

The Williams Companies has also paid consistent dividends since 1989. On April 27, the company declared its quarterly dividend of $0.41 per share. On May 3, The Williams Companies, Inc. announced its earnings per share for the first quarter of 2021. It reported earnings per share of $0.35, beating market predictions by $0.06. The revenue for the first three months of 2021 was $2.61 billion, up 36.6% YoY, beating the estimates by $640 million. On June 16, Williams announced an export agreement with Beacon Offshore Energy Development LLC. Under the agreement The Williams Companies, Inc. will provide overseas natural gas collection and onshore natural gas developing services to Shenandoah.

The hedge fund chaired by Mason Hawkins holds 8.26 million shares in the company worth over $195.70 million. Southeastern Asset Management is the biggest stakeholder in The Williams Companies.

ClearBridge Investments, in its first quarter 2021 investor letter, mentioned The Williams Companies, Inc.. Here is what the Fund has to say about The Williams in its letter:

“U.S. energy infrastructure company Williams Companies also performed well. Williams owns and operates natural gas pipelines and associated midstream assets in the U.S. Shares continued to rebound driven by the strong cyclical recovery, which has benefited energy stocks. Williams also delivered resilient fourth-quarter earnings despite energy demand pressure from COVID-19.”

1. Lumen Technologies, Inc. (NYSE: LUMN)

Hawkins’ Stake Value: $829,222,000
Percentage of Mason Hawkins’ 13F Portfolio: 17.73%
Dividend Yield: 7.25%
Number of Hedge Fund Holders: 32

Lumen Technologies, Inc. (NYSE: LUMN) is an American technology and communications company. The company was founded in 1968 and is placed first on the list of 10 best dividend stocks to buy according to Mason Hawkins’ Southeastern Asset Management. Lumen stock has returned 47.74% to investors during the course of the past twelve months.

Lumen Technologies, Inc. is a good option for dividend investors, as it has been paying a dividend since 2001. On May 20, the company declared a quarterly dividend of $0.25 per share, in line with the previous. The forward yield is 7.17%. On May 11, Lumen bagged U.S. Navy JAG connectivity $50 billion contract for a period of 12-years. Under this contract, the company will provide secured high-speed connectivity, WiFi and unified communications to the U.S. Navy Judge Advocate General Corps. On May 5, Lumen Technologies posted earnings for the first quarter of 2021. It reported earnings per share of $0.44, beating market predictions by $0.03.

The stock is a new arrival on Mason Hawkins’ portfolio, as his hedge fund bought about 62.11 million shares of the company, worth $829.22 million. In the first quarter of 2021, 32 hedge funds in Insider Monkey’s database of 887 funds held stakes in Lumen Technologies, Inc., compared to 29 funds in the fourth quarter of 2020.

In its first quarter 2021 Investor letter, Longleaf Partners Fund highlighted a few stocks, and Lumen Technologies Inc. was one of them. Here is what the fund said:

“Lumen (40%, 3.33%), the global fiber company, was the top contributor. While COVID fallout still weighed on fourth quarter results, the company benefitted from positive business mix improvements. Early in the quarter, Lumen appreciated 38% in a few short days amidst the “Game Stop / Reddit” short cover phenomenon. After this shortterm bounce, Lumen’s stock price appreciated more steadily over the last six weeks of the quarter with improved results. Many of last year’s worst-case fears have not materialized and the outlook is improving for the core business. We continue to believe that the company has multiple ways within its control to both grow and realize value per share, and we have a 13D filed to allow us to discuss these options with the company. Lumen’s board, which includes Southeastern-nominated Chairman Mike Glenn from FedEx and Director Hal Jones from Graham Holdings, is doing good work to realize Lumen’s hidden value and return the business to FCF/share growth. Despite its appreciation, the stock trades at less than half of our appraisal.”

You can also take a peek at 14 Best European Dividend Stocks To Buy and 15 Very High Yield Dividend Stocks Worth Checking Out.

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