Yacktman Asset Management

Q1 2021 13F · by Stephen Yacktman, CIO

As of: Mar 31, 2021
Filed: May 4, 2021
US stock: $9.6B · prev $8.1B
Positions: 66 · prev 61
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%

Moves59 since the prior filing

+5.1 pp in · −5.0 pp out

New 7 +7.57 pp
Added 34 −2.46 pp
Trimmed 16 −4.93 pp
Exited 2 −0.12 pp

The book

Focused · behaves like 32 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 22% a year, about 4.5 years per position

Low
Moderate
High

Top 5 positions25% of US stock

MSFT Microsoft Corp added+0.12 pp added+0.125.2%
GOOG Alphabet Inc. Class C added+0.05 pp added+0.055.1%
PEP PepsiCo, Inc. added−1.05 pp added−1.054.9%
SYY Sysco Corporation trimmed−0.57 pp trimmed−0.574.9%
PG Procter & Gamble Company added−0.86 pp added−0.864.5%

Positions66 in this filing · 2 exited


MSFTMicrosoft Corp	5.19%	2,107,285	$497M	added+14%	+0.12 pp	32 q
GOOGAlphabet Inc. Class C	5.08%	234,968	$486M	added+1%	+0.05 pp	9 q
PEPPepsiCo, Inc.	4.90%	3,316,568	$469M	added+2%	−1.05 pp	32 q
SYYSysco Corporation	4.87%	5,924,134	$466M	trimmed−0%	−0.57 pp	32 q
PGProcter & Gamble Company	4.55%	3,216,634	$436M	added+2%	−0.86 pp	32 q
DISThe Walt Disney Company	4.37%	2,264,873	$418M	trimmed−4%	−0.91 pp	9 q
NWSANews Corporation Class A	4.33%	16,297,702	$414M	trimmed−24%	−0.43 pp	8 q
BKNGBooking Holdings Inc.	4.03%	165,728	$386M	added+1%	−0.48 pp	9 q
JNJJohnson & Johnson	3.78%	2,198,411	$361M	added+1%	−0.45 pp	32 q
CTSHCognizant Technology Solutions	3.61%	4,418,032	$345M	added+1%	−0.81 pp	16 q
KOCoca-Cola Company	3.59%	6,518,232	$344M	added+2%	−0.75 pp	32 q
FOXFox Corporation Class B	3.15%	8,639,787	$302M	trimmed−5%	−0.09 pp	9 q
STTState Street Corporation	3.12%	3,550,416	$298M	added+1%	−0.04 pp	32 q
USBU.S. Bancorp	2.74%	4,736,604	$262M	added+1%	+0.05 pp	32 q
INGRIngredion Incorporated	2.48%	2,642,505	$238M	added+10%	+0.15 pp	4 q
SCHWThe Charles Schwab Corporation	2.38%	3,498,306	$228M	added+1%	+0.11 pp	8 q
BRK.BBERKSHIRE HATHAWAY Class B	2.20%	824,243	$211M	added×4.2	+1.64 pp	32 q
CNQCanadian Natural Resources Limited	2.16%	6,698,614	$207M	new	+2.16 pp	new
TSNTyson Foods, Inc.	2.12%	2,730,960	$203M	added+5%	+0.05 pp	2 q
HUNHuntsman Corporation	2.03%	6,749,558	$195M	added0%	−0.06 pp	5 q
BNYBank of New York Mellon Corporation	1.90%	3,847,468	$182M	added+1%	−0.09 pp	32 q
WFCWells Fargo & Co.	1.88%	4,600,092	$180M	added+1%	+0.18 pp	32 q
UHALU-Haul Holding Company	1.63%	254,121	$156M	added+3%	+0.25 pp	13 q
MMacy's Inc.	1.57%	9,295,192	$150M	trimmed−63%	−1.93 pp	8 q
CSCOCisco Systems, Inc. (DE)	1.55%	2,877,221	$149M	added+2%	−0.01 pp	32 q
ELVElevance Health, Inc.	1.53%	406,639	$146M	added+2%	−0.05 pp	26 q
NOCNorthrop Grumman Corp.	1.46%	432,680	$140M	new	+1.46 pp	new
LMTLockheed Martin Corp.	1.45%	375,276	$139M	new	+1.45 pp	new
LHXL3Harris Technologies, Inc.	1.44%	679,431	$138M	new	+1.44 pp	new
ORCLOracle Corp	1.44%	1,958,751	$137M	added+2%	−0.10 pp	32 q
MSMMSC Industrial Direct Co., Inc. Class A	1.21%	1,286,337	$116M	added+1%	−0.12 pp	7 q
CLColgate-Palmolive Company	1.09%	1,328,300	$105M	added+3%	−0.28 pp	32 q
AWIArmstrong World Industries, Inc.	1.05%	1,114,106	$100M	new	+1.05 pp	new
FOXAFox Corporation Class A	1.05%	2,771,315	$100M	trimmed−40%	−0.61 pp	9 q
RLRalph Lauren Corporation	1.03%	799,976	$99M	trimmed−0%	0.00 pp	5 q
GSGoldman Sachs Group Inc.	0.90%	264,009	$86M	added+1%	+0.05 pp	32 q
CMCSAComcast Corp	0.86%	1,524,200	$82M	added+1%	−0.12 pp	22 q
COPConocoPhillips	0.86%	1,551,872	$82M	added+1%	+0.10 pp	32 q
FHBFirst Hawaiian, Inc.	0.84%	2,949,180	$81M	added0%	−0.02 pp	5 q
XOMExxon Mobil Corp	0.81%	1,384,208	$77M	added+1%	+0.11 pp	32 q
EAFGrafTech International Ltd.	0.68%	5,316,354	$65M	trimmed−1%	−0.03 pp	11 q
MUMicron Technology, Inc.	0.65%	702,991	$62M	trimmed−1%	−0.01 pp	11 q
GLWCorning Incorporated	0.55%	1,204,500	$52M	added+2%	+0.02 pp	32 q
unresolvedFirstCash Holdings Inc	0.43%	632,951	$42M	added+13%	−0.05 pp	4 q
ACAArcosa, Inc.	0.32%	471,371	$31M	trimmed−2%	−0.01 pp	10 q
BRK.ABerkshire Hathaway Inc.	0.23%	58	$22M	trimmed−8%	−0.04 pp	32 q
ABEVAmbev S.a.	0.20%	7,000,000	$19M	held	—	4 q
unresolvedUnilever Spn.Adr 1:1	0.15%	253,011	$14M	added+4%	−0.03 pp	2 q
NWSNews Corporation Class B	0.14%	569,526	$13M	trimmed−4%	+0.01 pp	5 q
unresolvedTrecora Resources	0.08%	948,100	$7M	added+49%	+0.03 pp	5 q
SYKStryker Corporation	0.06%	23,017	$6M	added+1%	−0.01 pp	32 q
CLXClorox Company	0.04%	19,225	$4M	held	—	32 q
RDIReading International, Inc Class A	0.04%	741,100	$4M	trimmed−14%	−0.01 pp	19 q
MAMastercard Incorporated	0.03%	9,280	$3M	held	—	5 q
VMIValmont Industries, Inc.	0.03%	12,195	$3M	trimmed−14%	0.00 pp	5 q
HSYThe Hershey Company	0.02%	10,200	$2M	held	—	12 q
LEGHLegacy Housing Corporation	0.02%	82,800	$1M	added+18%	+0.01 pp	4 q
PMPhilip Morris International Inc.	0.02%	23,501	$2M	held	—	32 q
TLYSTilly's Inc.	0.02%	150,000	$2M	trimmed−11%	0.00 pp	5 q
MOAltria Group, Inc.	0.01%	22,500	$1M	held	—	32 q
CATOCato Corp	0.01%	91,998	$1M	new	+0.01 pp	new
EPMEvolution Petroleum Corporation	0.01%	165,000	$558,000	held	—	2 q
LOVSpark Networks SE	0.01%	86,000	$641,000	held	—	7 q
AMPYAmplify Energy Corp.	0.00%	170,000	$473,000	new	0.00 pp	new
INFYInfosys Limited	0.00%	15,000	$281,000	trimmed−99%	−0.30 pp	16 q
OTELOtelco, Inc. Class A	0.00%	34,031	$400,000	held	—	14 q
WDRWaddell & Reed Financial, Inc.	—	−362,000	—	exited	−0.11 pp	—
SPYState Street SPDR S&P 500 ETF Trust	—	−2,056	—	exited	−0.01 pp	—