Yacktman Asset Management

Q4 2022 13F · by Stephen Yacktman, CIO

As of: Dec 31, 2022
Filed: Jan 26, 2023
US stock: $10.0B · prev $9.2B
Positions: 68 · prev 67
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%

Moves63 since the prior filing

+2.3 pp in · −2.3 pp out

New 2 +4.30 pp
Added 26 −1.95 pp
Trimmed 34 −1.86 pp
Exited 1 −0.48 pp

The book

Focused · behaves like 33 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 18% a year, about 5.7 years per position

Low
Moderate
High

Top 5 positions26% of US stock

Positions68 in this filing · 1 exited


CNQCanadian Natural Resources Limited	8.39%	15,172,143	$843M	trimmed−4%	+0.37 pp	8 q
PEPPepsiCo, Inc.	4.66%	2,587,661	$467M	trimmed−31%	−1.99 pp	39 q
MSFTMicrosoft Corp	4.60%	1,924,164	$461M	trimmed−1%	−0.33 pp	39 q
PGProcter & Gamble Company	4.41%	2,919,414	$442M	trimmed−1%	+0.35 pp	39 q
UHAL.BU-Haul Holding Company	3.68%	6,712,255	$369M	new	+3.68 pp	new
GOOGAlphabet Inc. Class C	3.65%	4,130,134	$366M	trimmed−0%	−0.70 pp	16 q
JNJJohnson & Johnson	3.65%	2,072,059	$366M	trimmed−1%	−0.07 pp	39 q
SCHWThe Charles Schwab Corporation	3.55%	4,282,948	$357M	added+20%	+0.75 pp	15 q
BKNGBooking Holdings Inc.	3.08%	153,466	$309M	trimmed−2%	+0.28 pp	16 q
CTSHCognizant Technology Solutions	3.05%	5,345,736	$306M	trimmed−3%	−0.40 pp	23 q
NWSANews Corporation Class A	3.05%	16,803,181	$306M	added+2%	+0.33 pp	15 q
STTState Street Corporation	2.71%	3,500,960	$272M	trimmed−0%	+0.39 pp	39 q
RSReliance, Inc.	2.53%	1,255,664	$254M	trimmed−0%	+0.14 pp	5 q
WFRDWeatherford International plc	2.50%	4,921,500	$251M	trimmed−14%	+0.48 pp	7 q
FOXFox Corporation Class B	2.46%	8,685,412	$247M	added0%	−0.23 pp	16 q
INGRIngredion Incorporated	2.25%	2,308,131	$226M	trimmed−2%	+0.19 pp	11 q
NOCNorthrop Grumman Corp.	2.23%	410,428	$224M	trimmed−5%	+0.01 pp	8 q
BRK.BBERKSHIRE HATHAWAY Class B	2.18%	708,557	$219M	added0%	+0.12 pp	39 q
COPConocoPhillips	2.08%	1,768,311	$209M	added0%	+0.11 pp	39 q
USBU.S. Bancorp	2.07%	4,770,397	$208M	added0%	−0.02 pp	39 q
ELVElevance Health, Inc.	1.98%	386,700	$198M	added0%	+0.07 pp	33 q
EOGEOG Resources, Inc.	1.93%	1,493,689	$193M	added+4%	+0.18 pp	2 q
TSNTyson Foods, Inc.	1.83%	2,947,396	$183M	added+1%	−0.26 pp	9 q
FANGDiamondback Energy, Inc.	1.80%	1,321,869	$181M	added+5%	+0.14 pp	2 q
BNYBank of New York Mellon Corporation	1.73%	3,807,957	$173M	added0%	+0.13 pp	39 q
DVNDevon Energy Corporation	1.72%	2,804,836	$173M	added+5%	−0.03 pp	2 q
KOCoca-Cola Company	1.65%	2,609,844	$166M	trimmed−1%	+0.05 pp	39 q
PXDPioneer Natural Resource Co.	1.65%	724,827	$166M	added+6%	+0.03 pp	2 q
LMTLockheed Martin Corp.	1.62%	334,204	$163M	trimmed−6%	+0.12 pp	8 q
DISThe Walt Disney Company	1.44%	1,662,808	$144M	trimmed−0%	−0.27 pp	16 q
LHXL3Harris Technologies, Inc.	1.35%	652,532	$136M	trimmed−5%	−0.21 pp	8 q
ORCLOracle Corp	1.17%	1,431,534	$117M	trimmed−0%	+0.22 pp	39 q
SYYSysco Corporation	1.15%	1,510,972	$116M	trimmed−22%	−0.34 pp	39 q
EBAYeBay Inc	1.12%	2,714,558	$113M	added+51%	+0.40 pp	4 q
WFCWells Fargo & Co.	1.07%	2,593,661	$107M	added0%	−0.06 pp	39 q
CLColgate-Palmolive Company	1.02%	1,304,400	$103M	added+1%	+0.03 pp	39 q
FOXAFox Corporation Class A	0.80%	2,659,030	$81M	trimmed−0%	−0.09 pp	16 q
AWIArmstrong World Industries, Inc.	0.78%	1,144,763	$79M	added+3%	−0.18 pp	8 q
WBDWarner Bros. Discovery, Inc. Series A	0.75%	7,915,214	$75M	added+46%	+0.07 pp	3 q
CSCOCisco Systems, Inc. (DE)	0.73%	1,546,714	$74M	trimmed−1%	+0.05 pp	39 q
GSGoldman Sachs Group Inc.	0.66%	194,331	$67M	added0%	+0.04 pp	39 q
EMBCEmbecta Corp.	0.65%	2,566,207	$65M	added+11%	−0.08 pp	3 q
UNVRUnivar Solutions Inc.	0.62%	1,971,543	$63M	new	+0.62 pp	new
CMCSAComcast Corp	0.51%	1,457,700	$51M	trimmed−0%	+0.04 pp	29 q
FHBFirst Hawaiian, Inc.	0.49%	1,901,613	$50M	trimmed−0%	−0.02 pp	12 q
UHALU-Haul Holding Company	0.45%	756,597	$46M	added+3%	−3.62 pp	20 q
GLWCorning Incorporated	0.38%	1,190,000	$38M	added+1%	+0.01 pp	39 q
EAFGrafTech International Ltd.	0.38%	8,095,805	$39M	added+3%	+0.01 pp	18 q
MUMicron Technology, Inc.	0.35%	702,454	$35M	added+1%	−0.03 pp	18 q
MSMMSC Industrial Direct Co., Inc. Class A	0.24%	297,132	$24M	trimmed−19%	−0.05 pp	14 q
ACAArcosa, Inc.	0.20%	365,588	$20M	trimmed−3%	−0.03 pp	17 q
BRK.ABerkshire Hathaway Inc.	0.18%	38	$18M	trimmed−16%	−0.02 pp	39 q
XOMExxon Mobil Corp	0.16%	150,100	$17M	trimmed−18%	−0.01 pp	39 q
unresolvedUnilever Spn.Adr 1:1	0.15%	302,687	$15M	trimmed−4%	0.00 pp	9 q
SPYState Street SPDR S&P 500 ETF Trust	0.14%	35,440	$14M	added×15.8	+0.13 pp	5 q
NWSNews Corporation Class B	0.10%	558,832	$10M	trimmed−1%	+0.01 pp	12 q
CLXClorox Company	0.04%	29,100	$4M	held	—	39 q
CRMTAmerica's Car Mart Inc	0.03%	36,000	$3M	added+44%	+0.01 pp	3 q
AMPYAmplify Energy Corp.	0.03%	335,000	$3M	held	—	8 q
LEGHLegacy Housing Corporation	0.03%	185,000	$4M	trimmed−21%	−0.01 pp	11 q
MAMastercard Incorporated	0.03%	9,980	$3M	held	—	12 q
HSYThe Hershey Company	0.02%	10,200	$2M	held	—	19 q
MCOMoody's Corporation	0.02%	6,270	$2M	held	—	3 q
RDIReading International, Inc Class A	0.02%	559,800	$2M	trimmed−7%	0.00 pp	26 q
CATOCato Corp	0.01%	105,445	$983,802	held	—	8 q
EPMEvolution Petroleum Corporation	0.01%	100,000	$755,000	trimmed−41%	0.00 pp	9 q
PMPhilip Morris International Inc.	0.01%	9,801	$991,959	trimmed−42%	−0.01 pp	39 q
MOAltria Group, Inc.	0.00%	5,800	$265,118	trimmed−55%	−0.01 pp	39 q
FCFSFirstCash Holdings, Inc.	—	−594,851	—	exited	−0.48 pp	—