Billionaire Mason Hawkins’ 10 Mid-Cap Stocks with Huge Upside Potential

6. Formula One Group (NASDAQ:FWONK)

Market Capitalization: $22.57 billion

Number of Hedge Fund Holders: 50 

Southeastern Asset Management Stake: $10,843,252 

Analyst Upside Potential: 11.60%

Formula One Group (NASDAQ:FWONK) operates as a media holding company with interests in a diverse set of portfolio of media, sports, and entertainment businesses. The Formula One group is a global motorsports business holding exclusive commercial rights to the Formula One World Championship.

Formula One Group (NASDAQ:FWONK) reported strong financial performance in the fiscal fourth quarter of 2024. Its revenue increased 13.4% year-over-year to reach $3.7 billion. The group contributed significantly with its adjusted OIBDA (Operating Income) rising 13% year-over-year, driven by a 9% increase in fan attendance.

Management noted that the Formula One Group (NASDAQ:FWONK) renewed and extended race promotion agreements with major Grand Prix hosts, including Belgium, the Netherlands, China, Italy, and Monaco. This helped the company secure its market presence in key events. The company is also focused on strategic expansion, including the planned integration of MotoGP into its portfolio, which is expected to further diversify its motorsports holdings. It is one of billionaire Mason Hawkins’ 10 mid-cap stocks with huge upside potential.

Diamond Hill Mid Cap Strategy stated the following regarding Formula One Group (NASDAQ:FWONK) in its Q4 2024 investor letter:

“Other top contributors in Q4 included Alaska Air, Webster Financial and Formula One Group (NASDAQ:FWONK). Formula One reached several new and expanded sponsorship agreements during the quarter which materially enhance its 2025 growth profile. Liberty Media also announced Liberty Formula One will be converted from a tracking stock — which can carry some additional risks — into a regular stock following its split from Liberty Live Group.”