The Price-to-Value Podcast with Southeastern Asset Management

Southeastern Asset Management has been running concentrated value portfolios out of Memphis since 1975, and this podcast pulls back the curtain on how the firm actually thinks about businesses, management teams, and the gap between price and intrinsic worth. Hosted by members of the investment team, episodes typically feature an in-house analyst walking through a position in the Longleaf Partners Funds or sitting down with a CEO from one of the firm's portfolio companies for an extended conversation. The interviews stand out because they are not promotional. Southeastern owns these businesses for years, often through real volatility, so the questions get specific quickly: capital allocation decisions, why a particular acquisition made sense, how the operator thinks about returning cash to shareholders, what the next five years actually look like. There are also episodes dedicated to the firm's investment philosophy, including discussions of business quality, management partnership, and the discount required before they will commit capital. For listeners studying long-term concentrated value investing as it is practiced inside an established firm, the show offers something most podcasts cannot, which is access to working analysts explaining their reasoning out loud while the position is still on the books. New episodes appear roughly monthly, and the back catalog offers a rich archive of conversations with operators across consumer, energy, financials, and industrial businesses going back several years.