For example, Mattel (MAT, Financial) reported another good quarter and is well on track to generating more free cash flow (FCF) this year than we initially expected. The company also continues to announce new media projects - including tangible progress for Polly Pocket and Masters of the Universe in the quarter - to monetize the value of its intellectual property.
From Mason Hawkins (Trades, Portfolio)' Longleaf Partners Fund second-quarter 2021 shareholder letter.