Yacktman Asset Management

Q2 2022 13F · by Stephen Yacktman, CIO

As of: Jun 30, 2022
Filed: Aug 4, 2022
US stock: $9.6B · prev $11.2B
Positions: 65 · 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%

Moves61 since the prior filing

−0.9 pp in · +1.3 pp out

New 4 +1.39 pp
Added 23 −2.26 pp
Trimmed 31 +1.84 pp
Exited 3 −0.54 pp

The book

Focused · behaves like 27 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 6.7% a year, about 14.8 years per position

Low
Moderate
High

Top 5 positions31% of US stock

Positions65 in this filing · 3 exited


CNQCanadian Natural Resources Limited	9.41%	16,893,012	$907M	trimmed−0%	+0.03 pp	6 q
PEPPepsiCo, Inc.	7.36%	4,256,339	$709M	trimmed−0%	+0.98 pp	37 q
MSFTMicrosoft Corp	5.18%	1,943,030	$499M	added0%	−0.16 pp	37 q
GOOGAlphabet Inc. Class C	4.70%	207,280	$453M	added0%	−0.46 pp	14 q
PGProcter & Gamble Company	4.55%	3,051,710	$439M	trimmed−1%	+0.35 pp	37 q
JNJJohnson & Johnson	3.94%	2,137,299	$379M	trimmed−1%	+0.51 pp	37 q
CTSHCognizant Technology Solutions	3.85%	5,502,687	$371M	added0%	−0.54 pp	21 q
UHALU-Haul Holding Company	3.64%	733,498	$351M	added+3%	−0.15 pp	18 q
SYYSysco Corporation	3.61%	4,112,857	$348M	trimmed−12%	+0.22 pp	37 q
KOCoca-Cola Company	3.60%	5,522,758	$347M	trimmed−13%	+0.09 pp	37 q
BKNGBooking Holdings Inc.	2.82%	155,316	$272M	trimmed−0%	−0.44 pp	14 q
FOXFox Corporation Class B	2.66%	8,635,689	$256M	added+1%	−0.11 pp	14 q
NWSANews Corporation Class A	2.66%	16,452,794	$256M	added+1%	−0.55 pp	13 q
TSNTyson Foods, Inc.	2.60%	2,909,846	$250M	trimmed−0%	+0.27 pp	7 q
SCHWThe Charles Schwab Corporation	2.29%	3,486,660	$220M	added+1%	−0.32 pp	13 q
USBU.S. Bancorp	2.26%	4,725,764	$217M	added0%	+0.03 pp	37 q
STTState Street Corporation	2.24%	3,497,613	$216M	added0%	−0.48 pp	37 q
RSReliance, Inc.	2.22%	1,261,329	$214M	trimmed−0%	+0.15 pp	3 q
INGRIngredion Incorporated	2.16%	2,364,368	$208M	trimmed−1%	+0.31 pp	9 q
NOCNorthrop Grumman Corp.	2.16%	435,481	$208M	added0%	+0.42 pp	6 q
BRK.BBERKSHIRE HATHAWAY Class B	2.01%	709,699	$194M	trimmed−1%	−0.24 pp	37 q
ELVElevance Health, Inc.	1.93%	386,320	$186M	trimmed−0%	+0.24 pp	31 q
WFCWells Fargo & Co.	1.83%	4,494,847	$176M	trimmed−0%	−0.12 pp	37 q
LHXL3Harris Technologies, Inc.	1.73%	688,812	$166M	added0%	+0.21 pp	6 q
BNYBank of New York Mellon Corporation	1.64%	3,788,227	$158M	trimmed−0%	−0.04 pp	37 q
DISThe Walt Disney Company	1.63%	1,667,359	$157M	trimmed−6%	−0.53 pp	14 q
LMTLockheed Martin Corp.	1.59%	356,910	$153M	trimmed−0%	+0.18 pp	6 q
WFRDWeatherford International plc	1.26%	5,735,000	$121M	held	—	5 q
CLColgate-Palmolive Company	1.08%	1,293,900	$104M	added0%	+0.21 pp	37 q
ORCLOracle Corp	1.04%	1,428,643	$100M	added0%	−0.01 pp	37 q
MSMMSC Industrial Direct Co., Inc. Class A	0.97%	1,244,875	$94M	trimmed−0%	+0.02 pp	12 q
FOXAFox Corporation Class A	0.89%	2,675,353	$86M	trimmed−1%	−0.06 pp	14 q
AWIArmstrong World Industries, Inc.	0.87%	1,112,786	$83M	added0%	−0.02 pp	6 q
EBAYeBay Inc	0.77%	1,788,990	$75M	added+5%	−0.10 pp	2 q
WBDWarner Bros. Discovery, Inc. Series A	0.75%	5,382,729	$72M	new	+0.75 pp	new
CSCOCisco Systems, Inc. (DE)	0.68%	1,538,282	$66M	added+2%	−0.07 pp	37 q
EMBCEmbecta Corp.	0.61%	2,308,014	$58M	new	+0.61 pp	new
CMCSAComcast Corp	0.60%	1,466,200	$58M	trimmed−1%	−0.02 pp	27 q
GSGoldman Sachs Group Inc.	0.60%	194,835	$58M	trimmed−1%	+0.02 pp	37 q
FHBFirst Hawaiian, Inc.	0.51%	2,184,764	$50M	added0%	−0.03 pp	10 q
FCFSFirstCash Holdings, Inc.	0.43%	600,851	$42M	trimmed−2%	+0.05 pp	3 q
GLWCorning Incorporated	0.39%	1,182,000	$37M	held	—	37 q
MUMicron Technology, Inc.	0.39%	685,606	$38M	added0%	−0.08 pp	16 q
EAFGrafTech International Ltd.	0.38%	5,170,236	$37M	added0%	−0.06 pp	16 q
COPConocoPhillips	0.25%	268,050	$24M	held	—	37 q
XOMExxon Mobil Corp	0.21%	233,700	$20M	held	—	37 q
ACAArcosa, Inc.	0.20%	406,549	$19M	trimmed−1%	−0.01 pp	15 q
BRK.ABerkshire Hathaway Inc.	0.19%	45	$18M	trimmed−12%	−0.05 pp	37 q
unresolvedUnilever Spn.Adr 1:1	0.15%	305,085	$14M	added+4%	+0.03 pp	7 q
ABEVAmbev S.a.	0.13%	5,000,000	$13M	trimmed−17%	−0.04 pp	9 q
NWSNews Corporation Class B	0.09%	552,999	$9M	added+3%	−0.02 pp	10 q
HUNHuntsman Corporation	0.05%	180,000	$5M	trimmed−17%	−0.02 pp	10 q
CLXClorox Company	0.04%	29,100	$4M	held	—	37 q
LEGHLegacy Housing Corporation	0.04%	285,000	$4M	added+23%	0.00 pp	9 q
MAMastercard Incorporated	0.03%	9,980	$3M	held	—	10 q
RDIReading International, Inc Class A	0.03%	691,000	$2M	trimmed−7%	0.00 pp	24 q
CRMTAmerica's Car Mart Inc	0.02%	15,500	$2M	new	+0.02 pp	new
HSYThe Hershey Company	0.02%	10,200	$2M	held	—	17 q
PMPhilip Morris International Inc.	0.02%	17,001	$2M	trimmed−19%	0.00 pp	37 q
MOAltria Group, Inc.	0.01%	13,000	$543,000	trimmed−2%	0.00 pp	37 q
AMPYAmplify Energy Corp.	0.01%	220,000	$1M	trimmed−8%	0.00 pp	6 q
CATOCato Corp	0.01%	105,445	$1M	trimmed−18%	−0.01 pp	6 q
EPMEvolution Petroleum Corporation	0.01%	170,000	$928,000	trimmed−17%	0.00 pp	7 q
MCOMoody's Corporation	0.01%	4,270	$1M	new	+0.01 pp	new
SPYState Street SPDR S&P 500 ETF Trust	0.00%	1,049	$396,000	added×2.1	0.00 pp	3 q
MMacy's Inc.	—	−1,924,200	—	exited	−0.42 pp	—
unresolvedTrecora Resources	—	−1,628,000	—	exited	−0.12 pp	—
LOVSpark Networks SE	—	−86,000	—	exited	0.00 pp	—