Yacktman Asset Management

Q1 2022 13F · by Stephen Yacktman, CIO

As of: Mar 31, 2022
Filed: May 2, 2022
US stock: $11.2B · prev $11.2B
Positions: 64 · 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%

Moves59 since the prior filing

+2.1 pp in · −2.4 pp out

New 1 +0.87 pp
Added 10 +1.28 pp
Trimmed 47 −2.39 pp
Exited 1 −0.06 pp

The book

Focused · behaves like 27 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 11% a year, about 9.0 years per position

Low
Moderate
High

Top 5 positions31% of US stock

Positions64 in this filing · 1 exited


CNQCanadian Natural Resources Limited	9.38%	16,953,969	$1.1B	trimmed−0%	+2.97 pp	5 q
PEPPepsiCo, Inc.	6.38%	4,274,418	$715M	trimmed−4%	−0.52 pp	36 q
MSFTMicrosoft Corp	5.34%	1,942,026	$599M	trimmed−5%	−0.79 pp	36 q
GOOGAlphabet Inc. Class C	5.16%	207,138	$579M	trimmed−3%	−0.33 pp	13 q
CTSHCognizant Technology Solutions	4.39%	5,487,021	$492M	trimmed−7%	−0.28 pp	20 q
PGProcter & Gamble Company	4.20%	3,079,402	$471M	trimmed−4%	−0.48 pp	36 q
UHALU-Haul Holding Company	3.79%	711,679	$425M	added+59%	+0.89 pp	17 q
KOCoca-Cola Company	3.51%	6,338,531	$393M	trimmed−1%	+0.13 pp	36 q
JNJJohnson & Johnson	3.43%	2,167,250	$384M	trimmed−2%	+0.06 pp	36 q
SYYSysco Corporation	3.39%	4,658,542	$380M	trimmed−3%	+0.04 pp	36 q
BKNGBooking Holdings Inc.	3.26%	155,626	$365M	trimmed−1%	−0.10 pp	13 q
NWSANews Corporation Class A	3.21%	16,228,818	$359M	added0%	−0.01 pp	12 q
FOXFox Corporation Class B	2.77%	8,551,091	$310M	trimmed−1%	+0.13 pp	13 q
STTState Street Corporation	2.72%	3,494,210	$304M	trimmed−1%	−0.20 pp	36 q
SCHWThe Charles Schwab Corporation	2.61%	3,464,581	$292M	trimmed−1%	−0.01 pp	12 q
TSNTyson Foods, Inc.	2.33%	2,910,000	$261M	added+6%	+0.19 pp	6 q
BRK.BBERKSHIRE HATHAWAY Class B	2.25%	715,628	$253M	trimmed−4%	+0.27 pp	36 q
USBU.S. Bancorp	2.23%	4,703,163	$250M	trimmed−1%	−0.14 pp	36 q
DISThe Walt Disney Company	2.16%	1,768,517	$243M	trimmed−0%	−0.29 pp	13 q
RSReliance, Inc.	2.07%	1,263,336	$232M	added+20%	+0.55 pp	2 q
WFCWells Fargo & Co.	1.95%	4,504,758	$218M	trimmed−1%	0.00 pp	36 q
INGRIngredion Incorporated	1.85%	2,384,971	$208M	trimmed−9%	−0.42 pp	8 q
NOCNorthrop Grumman Corp.	1.74%	435,159	$195M	trimmed−2%	+0.21 pp	5 q
WFRDWeatherford International plc	1.70%	5,735,000	$191M	held	—	4 q
ELVElevance Health, Inc.	1.69%	386,577	$190M	trimmed−4%	+0.02 pp	30 q
BNYBank of New York Mellon Corporation	1.68%	3,794,759	$188M	trimmed−1%	−0.31 pp	36 q
LHXL3Harris Technologies, Inc.	1.52%	686,443	$171M	trimmed−1%	+0.20 pp	5 q
LMTLockheed Martin Corp.	1.41%	358,122	$158M	trimmed−0%	+0.27 pp	5 q
ORCLOracle Corp	1.05%	1,426,134	$118M	trimmed−20%	−0.33 pp	36 q
FOXAFox Corporation Class A	0.95%	2,692,789	$106M	trimmed−0%	+0.06 pp	13 q
MSMMSC Industrial Direct Co., Inc. Class A	0.95%	1,247,303	$106M	trimmed−0%	+0.02 pp	11 q
AWIArmstrong World Industries, Inc.	0.89%	1,108,512	$100M	added+1%	−0.24 pp	5 q
CLColgate-Palmolive Company	0.87%	1,292,300	$98M	trimmed−2%	−0.13 pp	36 q
EBAYeBay Inc	0.87%	1,699,065	$97M	new	+0.87 pp	new
CSCOCisco Systems, Inc. (DE)	0.75%	1,512,820	$84M	trimmed−27%	−0.42 pp	36 q
CMCSAComcast Corp	0.62%	1,475,200	$69M	trimmed−3%	−0.06 pp	26 q
GSGoldman Sachs Group Inc.	0.58%	197,460	$65M	trimmed−1%	−0.10 pp	36 q
FHBFirst Hawaiian, Inc.	0.54%	2,177,265	$61M	trimmed−10%	−0.05 pp	9 q
MUMicron Technology, Inc.	0.47%	682,375	$53M	trimmed−0%	−0.10 pp	15 q
EAFGrafTech International Ltd.	0.44%	5,160,328	$50M	added0%	−0.10 pp	15 q
MMacy's Inc.	0.42%	1,924,200	$47M	trimmed−2%	−0.04 pp	12 q
GLWCorning Incorporated	0.39%	1,182,000	$44M	trimmed−1%	−0.01 pp	36 q
FCFSFirstCash Holdings, Inc.	0.38%	612,851	$43M	trimmed−4%	−0.05 pp	2 q
BRK.ABerkshire Hathaway Inc.	0.24%	51	$27M	trimmed−2%	+0.03 pp	36 q
COPConocoPhillips	0.24%	268,050	$27M	trimmed−0%	+0.07 pp	36 q
ACAArcosa, Inc.	0.21%	412,290	$24M	trimmed−3%	+0.01 pp	14 q
ABEVAmbev S.a.	0.17%	6,000,000	$19M	trimmed−14%	0.00 pp	8 q
XOMExxon Mobil Corp	0.17%	233,700	$19M	trimmed−0%	+0.04 pp	36 q
unresolvedTrecora Resources	0.12%	1,628,000	$14M	added+1%	0.00 pp	9 q
unresolvedUnilever Spn.Adr 1:1	0.12%	292,748	$13M	added+4%	−0.01 pp	6 q
NWSNews Corporation Class B	0.11%	538,895	$12M	trimmed−1%	0.00 pp	9 q
HUNHuntsman Corporation	0.07%	216,000	$8M	trimmed−96%	−1.73 pp	9 q
CLXClorox Company	0.04%	29,100	$4M	trimmed−4%	−0.01 pp	36 q
LEGHLegacy Housing Corporation	0.04%	232,100	$5M	held	—	8 q
MAMastercard Incorporated	0.03%	9,980	$4M	added+8%	0.00 pp	9 q
RDIReading International, Inc Class A	0.03%	741,100	$3M	held	—	23 q
CATOCato Corp	0.02%	128,445	$2M	trimmed−28%	−0.01 pp	5 q
HSYThe Hershey Company	0.02%	10,200	$2M	held	—	16 q
PMPhilip Morris International Inc.	0.02%	21,001	$2M	trimmed−5%	0.00 pp	36 q
MOAltria Group, Inc.	0.01%	13,300	$695,000	trimmed−8%	0.00 pp	36 q
AMPYAmplify Energy Corp.	0.01%	240,000	$1M	added+41%	+0.01 pp	5 q
EPMEvolution Petroleum Corporation	0.01%	205,000	$1M	held	—	6 q
SPYState Street SPDR S&P 500 ETF Trust	0.00%	494	$223,000	trimmed−78%	−0.01 pp	2 q
LOVSpark Networks SE	0.00%	86,000	$240,000	held	—	11 q
SYKStryker Corporation	—	−23,660	—	exited	−0.06 pp	—