Longleaf Partners Fund Sold HF Sinclair Corporation (DINO) at a Profit

Longleaf Partners, managed by Southeastern Asset Management, released its fourth-quarter 2025 investor letter. A copy of the letter can be downloaded here. The Fund returned 3.35% in the quarter, compared to the S&P 500’s 2.66% and the Russell 1000 Value Index’s 3.81% return. 2025 was a challenging year for the firm, as it did not have any standout performers. Approximately 5% of the portfolio gained 20% or more, while 35% of the S&P 500 hit that level. The overall market dynamic drove the Fund’s underperformance. The firm focuses on actions to strengthen portfolio outcomes rather than chasing winners at the wrong time. The firm reiterates that building a portfolio of real companies on offense in a period of excessive speculation will benefit all markets. In addition, please check the Fund’s top five holdings to know its best picks in 2025.

In its fourth-quarter 2025 investor letter, Longleaf Partners Fund highlighted stocks such as HF Sinclair Corporation (NYSE:DINO), citing it as a contributor over the year. HF Sinclair Corporation (NYSE:DINO) is a US-based independent energy company.  On January 16, 2026, HF Sinclair Corporation (NYSE:DINO) stock closed at $48.63 per share. One-month return of HF Sinclair Corporation (NYSE:DINO) was 4.33%, and its shares gained 33.86% of their value over the last 52 weeks. HF Sinclair Corporation (NYSE:DINO) has a market capitalization of $9.098 billion.

Longleaf Partners Fund stated the following regarding HF Sinclair Corporation (NYSE:DINO) in its fourth quarter 2025 investor letter:

“HF Sinclair Corporation (NYSE:DINO) – Energy infrastructure company HF Sinclair was a contributor for the year. We timed our purchases well last year and earlier this year on oil price weakness and worse than expected refining spreads. More normalized refining spreads came into view as the year went on, and the company’s non-refining assets (which are over half of our appraisal) did well. The P/V gap closed, the previously strong insider buying stopped and the value per share growth was limited, so we moved on at a profit.”

In another article, we covered HF Sinclair Corporation (NYSE:DINO) and noted that analysts cut their price targets for the company. In addition, please check out our hedge fund investor letters Q4 2025 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.