Yacktman Asset Management

Q3 2021 13F · by Stephen Yacktman, CIO

As of: Sep 30, 2021
Filed: Nov 1, 2021
US stock: $10.4B · prev $10.3B
Positions: 62 · prev 64
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%

Moves53 since the prior filing

+2.4 pp in · −2.3 pp out

New 0 0.00 pp
Added 8 +2.36 pp
Trimmed 43 −2.25 pp
Exited 2 −0.09 pp

The book

Focused · behaves like 30 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 9.8% a year, about 10.3 years per position

Low
Moderate
High

Top 5 positions28% of US stock

Positions62 in this filing · 2 exited


PEPPepsiCo, Inc.	6.46%	4,468,994	$672M	trimmed−0%	+0.02 pp	34 q
GOOGAlphabet Inc. Class C	5.88%	229,560	$612M	trimmed−1%	+0.22 pp	11 q
CNQCanadian Natural Resources Limited	5.85%	16,641,604	$608M	added+30%	+1.35 pp	3 q
MSFTMicrosoft Corp	5.56%	2,049,102	$578M	trimmed−2%	+0.06 pp	34 q
PGProcter & Gamble Company	4.31%	3,208,833	$449M	trimmed−1%	+0.08 pp	34 q
CTSHCognizant Technology Solutions	4.15%	5,816,135	$432M	added+32%	+1.18 pp	18 q
SYYSysco Corporation	4.10%	5,429,302	$426M	trimmed−1%	−0.02 pp	34 q
NWSANews Corporation Class A	3.63%	16,031,924	$377M	trimmed−1%	−0.40 pp	10 q
BKNGBooking Holdings Inc.	3.60%	157,844	$375M	trimmed−0%	+0.23 pp	11 q
DISThe Walt Disney Company	3.47%	2,132,676	$361M	trimmed−0%	−0.18 pp	11 q
JNJJohnson & Johnson	3.40%	2,186,447	$353M	trimmed−0%	−0.11 pp	34 q
KOCoca-Cola Company	3.21%	6,363,956	$334M	trimmed−0%	−0.14 pp	34 q
FOXFox Corporation Class B	3.06%	8,569,128	$318M	trimmed−1%	+0.12 pp	11 q
STTState Street Corporation	2.86%	3,509,773	$297M	trimmed−1%	+0.04 pp	34 q
UHALU-Haul Holding Company	2.76%	444,927	$287M	trimmed−1%	+0.20 pp	15 q
USBU.S. Bancorp	2.69%	4,699,793	$279M	trimmed−1%	+0.08 pp	34 q
SCHWThe Charles Schwab Corporation	2.43%	3,469,928	$253M	trimmed−0%	−0.03 pp	10 q
INGRIngredion Incorporated	2.23%	2,605,049	$232M	trimmed−1%	−0.08 pp	6 q
TSNTyson Foods, Inc.	2.07%	2,720,814	$215M	trimmed−0%	+0.12 pp	4 q
WFCWells Fargo & Co.	2.03%	4,547,724	$211M	trimmed−1%	+0.02 pp	34 q
BRK.BBERKSHIRE HATHAWAY Class B	1.93%	734,846	$201M	trimmed−1%	−0.07 pp	34 q
BNYBank of New York Mellon Corporation	1.90%	3,812,079	$198M	trimmed−1%	−0.01 pp	34 q
HUNHuntsman Corporation	1.90%	6,689,809	$198M	trimmed−0%	+0.17 pp	7 q
ORCLOracle Corp	1.54%	1,832,770	$160M	trimmed−2%	+0.12 pp	34 q
NOCNorthrop Grumman Corp.	1.52%	437,931	$158M	trimmed−1%	−0.04 pp	3 q
LHXL3Harris Technologies, Inc.	1.46%	688,414	$152M	trimmed−1%	0.00 pp	3 q
ELVElevance Health, Inc.	1.44%	402,308	$150M	trimmed−1%	−0.06 pp	28 q
MMacy's Inc.	1.21%	5,582,318	$126M	trimmed−33%	−0.31 pp	10 q
CSCOCisco Systems, Inc. (DE)	1.18%	2,257,250	$123M	trimmed−20%	−0.27 pp	34 q
LMTLockheed Martin Corp.	1.18%	356,125	$123M	added0%	−0.13 pp	3 q
WFRDWeatherford International plc	1.15%	6,095,000	$120M	trimmed−15%	−0.12 pp	2 q
FOXAFox Corporation Class A	1.05%	2,720,058	$109M	trimmed−1%	+0.06 pp	11 q
AWIArmstrong World Industries, Inc.	1.00%	1,093,334	$104M	trimmed−1%	−0.15 pp	3 q
CLColgate-Palmolive Company	0.96%	1,317,600	$100M	trimmed−1%	−0.09 pp	34 q
MSMMSC Industrial Direct Co., Inc. Class A	0.96%	1,250,827	$100M	trimmed−0%	−0.13 pp	9 q
CMCSAComcast Corp	0.81%	1,509,450	$84M	trimmed−1%	−0.03 pp	24 q
FHBFirst Hawaiian, Inc.	0.78%	2,765,985	$81M	trimmed−1%	+0.01 pp	7 q
GSGoldman Sachs Group Inc.	0.73%	199,885	$76M	trimmed−22%	−0.21 pp	34 q
unresolvedFirstCash Holdings Inc	0.53%	625,051	$55M	trimmed−1%	+0.06 pp	6 q
EAFGrafTech International Ltd.	0.52%	5,205,501	$54M	trimmed−1%	−0.07 pp	13 q
MUMicron Technology, Inc.	0.47%	686,937	$49M	added0%	−0.10 pp	13 q
GLWCorning Incorporated	0.42%	1,193,000	$44M	trimmed−1%	−0.06 pp	34 q
ACAArcosa, Inc.	0.21%	434,984	$22M	trimmed−6%	−0.05 pp	12 q
BRK.ABerkshire Hathaway Inc.	0.21%	52	$21M	held	—	34 q
ABEVAmbev S.a.	0.19%	7,000,000	$19M	held	—	6 q
COPConocoPhillips	0.17%	264,950	$18M	trimmed−80%	−0.62 pp	34 q
unresolvedUnilever Spn.Adr 1:1	0.16%	311,114	$17M	added+28%	+0.02 pp	4 q
XOMExxon Mobil Corp	0.13%	235,699	$14M	trimmed−80%	−0.60 pp	34 q
NWSNews Corporation Class B	0.12%	545,893	$13M	trimmed−1%	−0.01 pp	7 q
unresolvedTrecora Resources	0.12%	1,555,000	$13M	added+37%	+0.03 pp	7 q
SYKStryker Corporation	0.06%	23,236	$6M	added0%	0.00 pp	34 q
LEGHLegacy Housing Corporation	0.04%	232,100	$4M	added+27%	+0.01 pp	6 q
RDIReading International, Inc Class A	0.04%	741,100	$4M	held	—	21 q
CATOCato Corp	0.03%	178,445	$3M	held	—	3 q
CLXClorox Company	0.03%	19,225	$3M	held	—	34 q
MAMastercard Incorporated	0.03%	9,280	$3M	held	—	7 q
HSYThe Hershey Company	0.02%	10,200	$2M	held	—	14 q
PMPhilip Morris International Inc.	0.02%	22,127	$2M	trimmed−6%	0.00 pp	34 q
MOAltria Group, Inc.	0.01%	14,500	$660,000	held	—	34 q
AMPYAmplify Energy Corp.	0.01%	170,000	$904,000	held	—	3 q
EPMEvolution Petroleum Corporation	0.01%	205,000	$1M	held	—	4 q
LOVSpark Networks SE	0.00%	86,000	$302,000	held	—	9 q
RLRalph Lauren Corporation	—	−65,962	—	exited	−0.08 pp	—
VMIValmont Industries, Inc.	—	−3,893	—	exited	−0.01 pp	—