Yacktman Asset Management

Q4 2021 13F · by Stephen Yacktman, CIO

As of: Dec 31, 2021
Filed: Feb 2, 2022
US stock: $11.2B · prev $10.4B
Positions: 64 · prev 62
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%

Moves54 since the prior filing

+3.0 pp in · −2.9 pp out

New 3 +1.96 pp
Added 28 +1.01 pp
Trimmed 22 −2.41 pp
Exited 1 −0.53 pp

The book

Focused · behaves like 29 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 10% a year, about 9.8 years per position

Low
Moderate
High

Top 5 positions30% of US stock

Positions64 in this filing · 1 exited


PEPPepsiCo, Inc.	6.90%	4,455,450	$774M	trimmed−0%	+0.44 pp	35 q
CNQCanadian Natural Resources Limited	6.41%	17,027,763	$719M	added+2%	+0.56 pp	4 q
MSFTMicrosoft Corp	6.13%	2,046,603	$688M	trimmed−0%	+0.57 pp	35 q
GOOGAlphabet Inc. Class C	5.49%	212,928	$616M	trimmed−7%	−0.39 pp	12 q
PGProcter & Gamble Company	4.68%	3,209,632	$525M	added0%	+0.37 pp	35 q
CTSHCognizant Technology Solutions	4.67%	5,906,710	$524M	added+2%	+0.52 pp	19 q
KOCoca-Cola Company	3.38%	6,401,059	$379M	added+1%	+0.17 pp	35 q
JNJJohnson & Johnson	3.37%	2,210,717	$378M	added+1%	−0.03 pp	35 q
BKNGBooking Holdings Inc.	3.36%	157,027	$377M	trimmed−1%	−0.24 pp	12 q
SYYSysco Corporation	3.35%	4,791,629	$376M	trimmed−12%	−0.75 pp	35 q
NWSANews Corporation Class A	3.22%	16,195,304	$361M	added+1%	−0.41 pp	11 q
STTState Street Corporation	2.92%	3,529,120	$328M	added+1%	+0.06 pp	35 q
UHALU-Haul Holding Company	2.90%	448,857	$326M	added+1%	+0.14 pp	16 q
FOXFox Corporation Class B	2.64%	8,659,010	$297M	added+1%	−0.42 pp	12 q
SCHWThe Charles Schwab Corporation	2.62%	3,491,388	$294M	added+1%	+0.19 pp	11 q
DISThe Walt Disney Company	2.45%	1,774,306	$275M	trimmed−17%	−1.02 pp	12 q
USBU.S. Bancorp	2.37%	4,744,546	$267M	added+1%	−0.32 pp	35 q
INGRIngredion Incorporated	2.27%	2,632,849	$254M	added+1%	+0.04 pp	7 q
TSNTyson Foods, Inc.	2.14%	2,752,267	$240M	added+1%	+0.07 pp	5 q
BNYBank of New York Mellon Corporation	1.99%	3,835,553	$223M	added+1%	+0.09 pp	35 q
BRK.BBERKSHIRE HATHAWAY Class B	1.98%	743,887	$222M	added+1%	+0.05 pp	35 q
WFCWells Fargo & Co.	1.95%	4,568,481	$219M	added0%	−0.08 pp	35 q
HUNHuntsman Corporation	1.80%	5,805,991	$203M	trimmed−13%	−0.10 pp	8 q
ELVElevance Health, Inc.	1.67%	404,514	$188M	added+1%	+0.23 pp	29 q
NOCNorthrop Grumman Corp.	1.53%	442,198	$171M	added+1%	+0.01 pp	4 q
RSReliance, Inc.	1.52%	1,053,500	$171M	new	+1.52 pp	new
WFRDWeatherford International plc	1.42%	5,735,000	$159M	trimmed−6%	+0.27 pp	3 q
ORCLOracle Corp	1.38%	1,776,144	$155M	trimmed−3%	−0.16 pp	35 q
LHXL3Harris Technologies, Inc.	1.32%	695,813	$148M	added+1%	−0.14 pp	4 q
CSCOCisco Systems, Inc. (DE)	1.17%	2,067,294	$131M	trimmed−8%	−0.01 pp	35 q
LMTLockheed Martin Corp.	1.14%	359,144	$128M	added+1%	−0.04 pp	4 q
AWIArmstrong World Industries, Inc.	1.13%	1,096,020	$127M	added0%	+0.13 pp	4 q
CLColgate-Palmolive Company	1.00%	1,313,300	$112M	trimmed−0%	+0.04 pp	35 q
MSMMSC Industrial Direct Co., Inc. Class A	0.93%	1,247,846	$105M	trimmed−0%	−0.03 pp	10 q
FOXAFox Corporation Class A	0.89%	2,702,034	$100M	trimmed−1%	−0.16 pp	12 q
CMCSAComcast Corp	0.68%	1,516,450	$76M	added0%	−0.13 pp	25 q
GSGoldman Sachs Group Inc.	0.68%	200,290	$77M	added0%	−0.05 pp	35 q
FHBFirst Hawaiian, Inc.	0.59%	2,416,246	$66M	trimmed−13%	−0.19 pp	8 q
MUMicron Technology, Inc.	0.57%	685,503	$64M	trimmed−0%	+0.10 pp	14 q
EAFGrafTech International Ltd.	0.54%	5,141,187	$61M	trimmed−1%	+0.02 pp	14 q
MMacy's Inc.	0.46%	1,955,000	$51M	trimmed−65%	−0.75 pp	11 q
FCFSFirstCash Holdings, Inc.	0.43%	637,851	$48M	new	+0.43 pp	new
GLWCorning Incorporated	0.40%	1,197,000	$45M	added0%	−0.02 pp	35 q
BRK.ABerkshire Hathaway Inc.	0.21%	52	$23M	held	—	35 q
ACAArcosa, Inc.	0.20%	425,977	$22M	trimmed−2%	−0.01 pp	13 q
ABEVAmbev S.a.	0.17%	7,000,000	$20M	held	—	7 q
COPConocoPhillips	0.17%	268,550	$19M	added+1%	0.00 pp	35 q
XOMExxon Mobil Corp	0.13%	234,200	$14M	trimmed−1%	0.00 pp	35 q
unresolvedUnilever Spn.Adr 1:1	0.13%	280,546	$15M	trimmed−10%	−0.03 pp	5 q
unresolvedTrecora Resources	0.12%	1,610,000	$13M	added+4%	0.00 pp	8 q
NWSNews Corporation Class B	0.11%	541,743	$12M	trimmed−1%	−0.01 pp	8 q
SYKStryker Corporation	0.06%	23,660	$6M	added+2%	0.00 pp	35 q
CLXClorox Company	0.05%	30,425	$5M	added+58%	+0.02 pp	35 q
LEGHLegacy Housing Corporation	0.05%	232,100	$6M	held	—	7 q
CATOCato Corp	0.03%	178,445	$3M	held	—	4 q
MAMastercard Incorporated	0.03%	9,280	$3M	held	—	8 q
RDIReading International, Inc Class A	0.03%	741,100	$3M	held	—	22 q
HSYThe Hershey Company	0.02%	10,200	$2M	held	—	15 q
PMPhilip Morris International Inc.	0.02%	22,001	$2M	trimmed−1%	0.00 pp	35 q
MOAltria Group, Inc.	0.01%	14,500	$687,000	held	—	35 q
EPMEvolution Petroleum Corporation	0.01%	205,000	$1M	held	—	5 q
SPYState Street SPDR S&P 500 ETF Trust	0.01%	2,248	$1M	new	+0.01 pp	new
AMPYAmplify Energy Corp.	0.00%	170,000	$529,000	held	—	4 q
LOVSpark Networks SE	0.00%	86,000	$270,000	held	—	10 q
unresolvedFirstCash Holdings Inc	—	−625,051	—	exited	−0.53 pp	—