Yacktman Asset Management

Q4 2020 13F · by Stephen Yacktman, CIO

As of: Dec 31, 2020
Filed: Dec 31, 2020
US stock: $8.1B · prev $6.7B
Positions: 61 · prev 60
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves52 since the prior filing

+6.0 pp in · −6.0 pp out

New 3 +2.26 pp
Added 11 +3.72 pp
Trimmed 36 −5.72 pp
Exited 2 −0.23 pp

The book

Focused · behaves like 28 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 24% a year, about 4.2 years per position

Low
Moderate
High

Top 5 positions27% of US stock

Positions61 in this filing · 2 exited


PEPPepsiCo, Inc.	5.95%	3,244,727	$481M	trimmed−2%	−0.84 pp	31 q
SYYSysco Corporation	5.44%	5,924,876	$440M	trimmed−1%	−0.11 pp	31 q
PGProcter & Gamble Company	5.41%	3,142,705	$437M	trimmed−4%	−1.33 pp	31 q
DISThe Walt Disney Company	5.28%	2,356,885	$427M	trimmed−23%	−0.35 pp	8 q
MSFTMicrosoft Corp	5.07%	1,844,041	$410M	trimmed−2%	−0.81 pp	31 q
GOOGAlphabet Inc. Class C	5.03%	232,286	$407M	trimmed−1%	−0.08 pp	8 q
NWSANews Corporation Class A	4.76%	21,435,965	$385M	trimmed−1%	+0.25 pp	7 q
BKNGBooking Holdings Inc.	4.51%	163,782	$365M	trimmed−1%	+0.31 pp	8 q
CTSHCognizant Technology Solutions	4.42%	4,358,152	$357M	trimmed−1%	−0.11 pp	15 q
KOCoca-Cola Company	4.34%	6,403,245	$351M	trimmed−1%	−0.41 pp	31 q
JNJJohnson & Johnson	4.23%	2,173,032	$342M	trimmed−2%	−0.64 pp	31 q
MMacy's Inc.	3.50%	25,153,751	$283M	trimmed−28%	+0.53 pp	7 q
FOXFox Corporation Class B	3.24%	9,076,330	$262M	trimmed−19%	−1.41 pp	8 q
STTState Street Corporation	3.16%	3,514,589	$256M	trimmed−1%	+0.04 pp	31 q
USBU.S. Bancorp	2.69%	4,670,254	$218M	trimmed−0%	+0.20 pp	31 q
INGRIngredion Incorporated	2.33%	2,395,805	$188M	added×2.7	+1.33 pp	3 q
SCHWThe Charles Schwab Corporation	2.27%	3,462,106	$184M	added×78.3	+2.25 pp	7 q
HUNHuntsman Corporation	2.09%	6,733,145	$169M	trimmed−2%	−0.16 pp	4 q
TSNTyson Foods, Inc.	2.07%	2,599,637	$168M	new	+2.07 pp	new
BNYBank of New York Mellon Corporation	1.99%	3,795,597	$161M	trimmed−0%	+0.05 pp	31 q
WFCWells Fargo & Co.	1.70%	4,547,283	$137M	trimmed−1%	+0.11 pp	31 q
FOXAFox Corporation Class A	1.66%	4,598,786	$134M	trimmed−35%	−1.24 pp	8 q
ELVElevance Health, Inc.	1.58%	398,746	$128M	trimmed−0%	−0.01 pp	25 q
CSCOCisco Systems, Inc. (DE)	1.56%	2,828,169	$127M	trimmed−1%	−0.12 pp	31 q
ORCLOracle Corp	1.54%	1,926,633	$125M	trimmed−2%	−0.19 pp	31 q
UHALU-Haul Holding Company	1.38%	246,122	$112M	trimmed−4%	+0.03 pp	12 q
CLColgate-Palmolive Company	1.37%	1,295,500	$111M	added0%	−0.11 pp	31 q
MSMMSC Industrial Direct Co., Inc. Class A	1.33%	1,274,343	$108M	trimmed−3%	+0.10 pp	6 q
RLRalph Lauren Corporation	1.03%	802,477	$83M	trimmed−1%	+0.22 pp	4 q
CMCSAComcast Corp	0.98%	1,506,100	$79M	added0%	−0.05 pp	21 q
FHBFirst Hawaiian, Inc.	0.86%	2,934,937	$69M	trimmed−1%	+0.22 pp	4 q
GSGoldman Sachs Group Inc.	0.85%	262,243	$69M	added0%	+0.07 pp	31 q
COPConocoPhillips	0.76%	1,530,349	$61M	added+1%	+0.02 pp	31 q
EAFGrafTech International Ltd.	0.71%	5,369,398	$57M	trimmed−3%	+0.15 pp	10 q
XOMExxon Mobil Corp	0.70%	1,368,195	$56M	added0%	0.00 pp	31 q
MUMicron Technology, Inc.	0.66%	708,487	$53M	added+2%	+0.18 pp	10 q
BRK.BBERKSHIRE HATHAWAY Class B	0.56%	195,075	$45M	trimmed−2%	−0.07 pp	31 q
GLWCorning Incorporated	0.53%	1,186,394	$43M	trimmed−0%	−0.04 pp	31 q
unresolvedFirstCash Holdings Inc	0.48%	558,100	$39M	added0%	+0.01 pp	3 q
ACAArcosa, Inc.	0.33%	483,099	$27M	trimmed−5%	0.00 pp	9 q
INFYInfosys Limited	0.30%	1,435,766	$24M	trimmed−4%	−0.01 pp	15 q
BRK.ABerkshire Hathaway Inc.	0.27%	63	$22M	held	—	31 q
ABEVAmbev S.a.	0.26%	7,000,000	$21M	held	—	3 q
unresolvedUnilever Spn.Adr 1:1	0.18%	242,614	$15M	new	+0.18 pp	new
NWSNews Corporation Class B	0.13%	591,987	$11M	trimmed−13%	−0.01 pp	4 q
WDRWaddell & Reed Financial, Inc.	0.11%	362,000	$9M	trimmed−19%	+0.01 pp	4 q
SYKStryker Corporation	0.07%	22,821	$6M	trimmed−5%	0.00 pp	31 q
CLXClorox Company	0.05%	19,225	$4M	held	—	31 q
RDIReading International, Inc Class A	0.05%	862,000	$4M	held	—	18 q
unresolvedTrecora Resources	0.05%	636,023	$4M	added+52%	+0.01 pp	4 q
MAMastercard Incorporated	0.04%	9,280	$3M	held	—	4 q
VMIValmont Industries, Inc.	0.03%	14,195	$2M	trimmed−2%	0.00 pp	4 q
HSYThe Hershey Company	0.02%	10,200	$2M	held	—	11 q
PMPhilip Morris International Inc.	0.02%	23,501	$2M	held	—	31 q
TLYSTilly's Inc.	0.02%	169,000	$1M	trimmed−16%	0.00 pp	4 q
MOAltria Group, Inc.	0.01%	22,500	$922,000	held	—	31 q
EPMEvolution Petroleum Corporation	0.01%	165,000	$470,000	new	+0.01 pp	new
LEGHLegacy Housing Corporation	0.01%	70,250	$1M	held	—	3 q
SPYState Street SPDR S&P 500 ETF Trust	0.01%	2,056	$769,000	added×2.9	+0.01 pp	13 q
LOVSpark Networks SE	0.01%	86,000	$458,000	held	—	6 q
OTELOtelco, Inc. Class A	0.00%	34,031	$390,000	held	—	13 q
UNUnilever N V -ny Shares	—	−249,088	—	exited	−0.22 pp	—
AMTTd Ameritrade Holding Corp	—	−15,700	—	exited	−0.01 pp	—