Value investor Mason Hawkins bought General Electric in the second quarter, and also bought shares in Alphabet. Hawkins’ Southeast Asset Management, which runs a suite of mutual funds called Longleaf Partners Funds, boosted shares of General Electric 12 percent last quarter, according to InsiderScore. During the three-month period ending June 30, the fund held 3.28 million shares worth $208.5 million. Hawkins also bought shares of Alphabet – Google’s parent company for the first time since going out of stock in 2020; investors bought 1.5 million shares with a total value of 165.7 million USD. According to the Q2 fund’s commentary, the company said it is “finding some exciting new opportunities for this year’s bearish growth darlings”. The classic value investor who amassed his stake in General Electric, which has trailed the S&P 500’s 12% decline this year, says Wall Street doesn’t give CEO Larry Culp enough credit for ” material improvements” that he made during his tenure. “Balance sheets are stronger today than they have been in a very long time, and each of the three core businesses has strong paths to earnings growth, regardless of the economic environment,” reads commentary from Q2, general reference Electric’s three segments are aviation, healthcare and energy. Shares of General Electric are down 19% this year, but have since rebounded 22% in the current quarter after reporting strong second-quarter earnings, Southeastern Asset Management also opened a position in Alphabet, a The growth name gave value investors “lots of surprised looks and quite a few questions from customers” when the company first bought the stock in 2015. At the time, the fund said it liked it. the search giant’s competitive advantage. The company exited the stock in the third quarter of 2020, after cutting its holdings in the company for at least four consecutive quarters. Shares of parent company Google are down 18% this year and only up 9% in the third quarter, trailing the broader market index. Meanwhile, Southeastern expressed skepticism whether the big pharmaceutical and oil companies can stay in relative business over the long term. Hawkins’ Longleaf Partnership Fund performed better than two decades before the Great Depression and underperformed since investors leaned more toward growth stocks than value stocks, according to research. of the Morningstar mutual fund. Still, Longleaf Partners fell 15.56% in the second quarter, better than the S&P 500’s 16.10% drop, in a quarter that “sees value continue to outperform gains.” relative growth,” a possible sign that value stocks may be in vogue again, according to Southeast’s latest letter to shareholders. Other top stocks in the fund are telecommunications stock Lumen Technologies, toy company Mattel and shipping company FedEx.