Yacktman Asset Management

Q2 2023 13F · by Stephen Yacktman, CIO

As of: Jun 30, 2023
Filed: Aug 8, 2023
US stock: $10.5B · prev $10.1B
Positions: 67 · prev 68
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

+1.2 pp in · −1.1 pp out

New 1 +2.10 pp
Added 31 −0.95 pp
Trimmed 27 −0.57 pp
Exited 2 −0.56 pp

The book

Focused · behaves like 32 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 6.3% a year, about 15.8 years per position

Low
Moderate
High

Top 5 positions27% of US stock

Positions67 in this filing · 2 exited


CNQCanadian Natural Resources Limited	8.06%	15,108,455	$850M	trimmed−1%	−0.27 pp	10 q
MSFTMicrosoft Corp	6.19%	1,917,314	$653M	trimmed−0%	+0.71 pp	41 q
GOOGAlphabet Inc. Class C	4.74%	4,135,450	$500M	added0%	+0.49 pp	18 q
PEPPepsiCo, Inc.	4.50%	2,560,552	$474M	trimmed−0%	−0.12 pp	41 q
PGProcter & Gamble Company	3.85%	2,674,049	$406M	trimmed−0%	−0.09 pp	41 q
SCHWThe Charles Schwab Corporation	3.43%	6,374,912	$361M	added+1%	+0.17 pp	17 q
CTSHCognizant Technology Solutions	3.33%	5,376,416	$351M	added0%	+0.10 pp	25 q
UHAL.BU-Haul Holding Company	3.32%	6,910,859	$350M	added+2%	−0.16 pp	3 q
RSReliance, Inc.	3.21%	1,247,471	$339M	trimmed−0%	+0.03 pp	7 q
JNJJohnson & Johnson	3.14%	2,001,958	$331M	trimmed−1%	+0.03 pp	41 q
NWSANews Corporation Class A	3.13%	16,956,324	$331M	added0%	+0.24 pp	17 q
BKNGBooking Holdings Inc.	3.02%	118,049	$319M	trimmed−19%	−0.79 pp	18 q
FOXFox Corporation Class B	2.65%	8,764,068	$279M	added0%	−0.05 pp	18 q
PXDPioneer Natural Resource Co.	2.51%	1,275,395	$264M	added0%	−0.05 pp	4 q
STTState Street Corporation	2.42%	3,493,044	$256M	added0%	−0.19 pp	41 q
WFRDWeatherford International plc	2.41%	3,820,800	$254M	trimmed−5%	+0.05 pp	9 q
BRK.BBERKSHIRE HATHAWAY Class B	2.29%	707,390	$241M	added0%	+0.13 pp	41 q
INGRIngredion Incorporated	2.24%	2,234,250	$237M	trimmed−1%	−0.04 pp	13 q
OLNOlin Corp.	2.10%	4,315,529	$222M	new	+2.10 pp	new
EOGEOG Resources, Inc.	1.85%	1,708,611	$196M	added+1%	−0.07 pp	4 q
FANGDiamondback Energy, Inc.	1.81%	1,453,966	$191M	added+1%	−0.12 pp	4 q
COPConocoPhillips	1.79%	1,823,145	$189M	added+1%	+0.03 pp	41 q
NOCNorthrop Grumman Corp.	1.77%	409,839	$187M	trimmed0%	−0.10 pp	10 q
ELVElevance Health, Inc.	1.64%	388,751	$173M	added0%	−0.12 pp	35 q
BNYBank of New York Mellon Corporation	1.61%	3,804,991	$169M	added0%	−0.09 pp	41 q
ORCLOracle Corp	1.57%	1,388,947	$165M	trimmed−1%	+0.29 pp	41 q
KOCoca-Cola Company	1.48%	2,590,970	$156M	trimmed−0%	−0.11 pp	41 q
TSNTyson Foods, Inc.	1.48%	3,063,739	$156M	added+2%	−0.28 pp	11 q
LMTLockheed Martin Corp.	1.45%	332,887	$153M	trimmed−0%	−0.11 pp	10 q
DISThe Walt Disney Company	1.41%	1,664,185	$149M	added0%	−0.24 pp	18 q
DVNDevon Energy Corporation	1.38%	3,012,989	$146M	added+1%	−0.11 pp	4 q
EBAYeBay Inc	1.22%	2,890,183	$129M	added0%	−0.04 pp	6 q
LHXL3Harris Technologies, Inc.	1.21%	654,176	$128M	added0%	−0.06 pp	10 q
SYYSysco Corporation	1.07%	1,521,152	$113M	added+1%	−0.08 pp	41 q
WFCWells Fargo & Co.	1.05%	2,584,852	$110M	trimmed−0%	+0.09 pp	41 q
CLColgate-Palmolive Company	0.95%	1,305,700	$101M	added0%	−0.02 pp	41 q
WBDWarner Bros. Discovery, Inc. Series A	0.95%	7,994,718	$100M	added0%	−0.24 pp	5 q
FOXAFox Corporation Class A	0.85%	2,627,340	$89M	trimmed−0%	−0.04 pp	18 q
AWIArmstrong World Industries, Inc.	0.82%	1,179,257	$87M	added+1%	0.00 pp	10 q
CSCOCisco Systems, Inc. (DE)	0.68%	1,392,526	$72M	trimmed−0%	−0.04 pp	41 q
UNVRUnivar Solutions Inc.	0.68%	1,999,040	$72M	trimmed−0%	−0.01 pp	3 q
GSGoldman Sachs Group Inc.	0.59%	191,586	$62M	added+1%	−0.03 pp	41 q
CMCSAComcast Corp	0.57%	1,454,800	$60M	added+1%	+0.03 pp	31 q
EMBCEmbecta Corp.	0.54%	2,621,589	$57M	added+1%	−0.18 pp	5 q
EAFGrafTech International Ltd.	0.44%	9,256,476	$47M	added+8%	+0.03 pp	20 q
GLWCorning Incorporated	0.40%	1,190,000	$42M	held	—	41 q
MUMicron Technology, Inc.	0.40%	667,171	$42M	added+4%	+0.02 pp	20 q
UHALU-Haul Holding Company	0.37%	714,614	$40M	trimmed−1%	−0.05 pp	22 q
FHBFirst Hawaiian, Inc.	0.33%	1,924,107	$35M	added+1%	−0.06 pp	14 q
MSMMSC Industrial Direct Co., Inc. Class A	0.26%	291,035	$28M	trimmed−3%	+0.01 pp	16 q
BRK.ABerkshire Hathaway Inc.	0.16%	33	$17M	held	—	41 q
XOMExxon Mobil Corp	0.15%	149,800	$16M	added+2%	−0.01 pp	41 q
unresolvedUnilever Spn.Adr 1:1	0.15%	304,003	$16M	trimmed−2%	−0.01 pp	11 q
NWSNews Corporation Class B	0.11%	561,648	$11M	trimmed−1%	+0.01 pp	14 q
CLXClorox Company	0.04%	29,100	$5M	held	—	41 q
LEGHLegacy Housing Corporation	0.04%	162,500	$4M	trimmed−4%	0.00 pp	13 q
MAMastercard Incorporated	0.04%	11,130	$4M	held	—	14 q
CRMTAmerica's Car Mart Inc	0.03%	27,000	$3M	trimmed−25%	0.00 pp	5 q
MCOMoody's Corporation	0.03%	7,670	$3M	held	—	5 q
AMPYAmplify Energy Corp.	0.02%	290,000	$2M	trimmed−13%	0.00 pp	10 q
HSYThe Hershey Company	0.02%	10,200	$3M	held	—	21 q
SPYState Street SPDR S&P 500 ETF Trust	0.02%	4,140	$2M	added+19%	+0.01 pp	7 q
CATOCato Corp	0.01%	105,445	$846,723	held	—	10 q
PMPhilip Morris International Inc.	0.01%	7,301	$712,724	trimmed−19%	0.00 pp	41 q
RDIReading International, Inc Class A	0.01%	520,000	$1M	trimmed−7%	−0.01 pp	28 q
MOAltria Group, Inc.	0.00%	5,800	$262,740	held	—	41 q
USBU.S. Bancorp	0.00%	9,118	$301,259	trimmed−12%	0.00 pp	41 q
EWYiShares MSCI South Korea ETF	—	−584,913	—	exited	−0.35 pp	—
ACAArcosa, Inc.	—	−340,079	—	exited	−0.21 pp	—