Yacktman Asset Management

Q1 2024 13F · by Stephen Yacktman, CIO

As of: Mar 31, 2024
Filed: May 2, 2024
US stock: $11.1B · prev $10.8B
Positions: 73 · prev 70
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

+3.6 pp in · −3.6 pp out

New 5 +1.99 pp
Added 14 +1.59 pp
Trimmed 42 −2.30 pp
Exited 2 −1.26 pp

The book

Focused · behaves like 29 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 9.8% a year, about 10.3 years per position

Low
Moderate
High

Top 5 positions30% of US stock

CNQ Canadian Natural Resources Limited added+1.22 pp added+1.2210.3%
MSFT Microsoft Corp trimmed+0.29 pp trimmed+0.296.0%
GOOG Alphabet Inc. Class C trimmed+0.01 pp trimmed+0.015.0%
UHAL.B U-Haul Holding Company trimmed−0.58 pp trimmed−0.584.3%
SCHW The Charles Schwab Corporation trimmed+0.05 pp trimmed+0.054.1%

Positions73 in this filing · 2 exited


CNQCanadian Natural Resources Limited	10.32%	15,037,911	$1.1B	added+1%	+1.22 pp	13 q
MSFTMicrosoft Corp	6.01%	1,589,290	$669M	trimmed−3%	+0.29 pp	44 q
GOOGAlphabet Inc. Class C	5.00%	3,653,677	$556M	trimmed−4%	+0.01 pp	21 q
UHAL.BU-Haul Holding Company	4.27%	7,116,453	$475M	trimmed−4%	−0.58 pp	6 q
SCHWThe Charles Schwab Corporation	4.09%	6,280,994	$454M	trimmed−1%	+0.05 pp	20 q
PEPPepsiCo, Inc.	3.92%	2,487,760	$435M	trimmed−2%	−0.09 pp	44 q
PGProcter & Gamble Company	3.59%	2,461,850	$399M	trimmed−2%	+0.15 pp	44 q
NWSANews Corporation Class A	3.44%	14,593,521	$382M	trimmed−13%	−0.38 pp	20 q
CTSHCognizant Technology Solutions	3.25%	4,925,723	$361M	trimmed−5%	−0.38 pp	28 q
RSReliance, Inc.	2.99%	996,402	$333M	trimmed−18%	−0.16 pp	10 q
FANGDiamondback Energy, Inc.	2.61%	1,463,985	$290M	trimmed−4%	+0.42 pp	7 q
BRK.BBERKSHIRE HATHAWAY Class B	2.56%	676,582	$285M	trimmed−1%	+0.29 pp	44 q
STTState Street Corporation	2.36%	3,394,316	$262M	trimmed−1%	−0.10 pp	44 q
INGRIngredion Incorporated	2.32%	2,206,399	$258M	trimmed−0%	+0.08 pp	16 q
OLNOlin Corp.	2.27%	4,293,188	$252M	added+1%	+0.13 pp	4 q
FOXFox Corporation Class B	2.25%	8,732,038	$250M	added+2%	+0.04 pp	21 q
JNJJohnson & Johnson	2.15%	1,514,714	$240M	trimmed−0%	−0.06 pp	44 q
COPConocoPhillips	2.08%	1,815,948	$231M	trimmed−0%	+0.12 pp	44 q
EOGEOG Resources, Inc.	2.06%	1,789,272	$229M	trimmed−0%	+0.05 pp	7 q
BNYBank of New York Mellon Corporation	1.93%	3,717,211	$214M	trimmed−2%	+0.10 pp	44 q
DISThe Walt Disney Company	1.81%	1,646,882	$202M	trimmed−0%	+0.43 pp	21 q
ELVElevance Health, Inc.	1.75%	374,620	$194M	trimmed−3%	+0.06 pp	38 q
NOCNorthrop Grumman Corp.	1.67%	387,219	$185M	trimmed−5%	−0.10 pp	13 q
TSNTyson Foods, Inc.	1.63%	3,088,118	$181M	added+2%	+0.12 pp	14 q
DVNDevon Energy Corporation	1.50%	3,321,902	$167M	added+2%	+0.13 pp	7 q
KOCoca-Cola Company	1.42%	2,588,447	$158M	trimmed−0%	0.00 pp	44 q
EBAYeBay Inc	1.40%	2,951,932	$156M	added+1%	+0.21 pp	9 q
LMTLockheed Martin Corp.	1.36%	331,563	$151M	trimmed−0%	−0.04 pp	13 q
WFCWells Fargo & Co.	1.32%	2,540,840	$147M	trimmed−1%	+0.15 pp	44 q
BKNGBooking Holdings Inc.	1.28%	39,221	$142M	trimmed−16%	−0.26 pp	21 q
LHXL3Harris Technologies, Inc.	1.25%	651,418	$139M	trimmed−0%	−0.03 pp	13 q
AWIArmstrong World Industries, Inc.	1.24%	1,111,381	$138M	trimmed−4%	+0.18 pp	13 q
KVUEKenvue Inc.	1.21%	6,265,316	$134M	added+16%	+0.13 pp	3 q
KELKellanova	1.10%	2,131,403	$122M	new	+1.10 pp	new
SYYSysco Corporation	1.08%	1,482,308	$120M	trimmed−2%	+0.05 pp	44 q
ORCLOracle Corp	1.03%	910,035	$114M	trimmed−33%	−0.31 pp	44 q
CLColgate-Palmolive Company	0.97%	1,194,200	$108M	trimmed−8%	+0.01 pp	44 q
DARDarling Ingredients Inc.	0.79%	1,882,183	$88M	new	+0.79 pp	new
FOXAFox Corporation Class A	0.73%	2,600,868	$81M	trimmed−0%	+0.01 pp	21 q
PXDPioneer Natural Resource Co.	0.73%	307,400	$81M	trimmed−72%	−1.60 pp	7 q
GSGoldman Sachs Group Inc.	0.72%	190,457	$80M	trimmed−0%	+0.04 pp	44 q
WBDWarner Bros. Discovery, Inc. Series A	0.63%	8,051,804	$70M	added+1%	−0.22 pp	8 q
CMCSAComcast Corp	0.56%	1,428,500	$62M	trimmed−1%	−0.03 pp	34 q
CSCOCisco Systems, Inc. (DE)	0.55%	1,223,484	$61M	trimmed−10%	−0.09 pp	44 q
GLWCorning Incorporated	0.35%	1,185,500	$39M	held	—	44 q
EMBCEmbecta Corp.	0.34%	2,816,428	$37M	added+5%	−0.13 pp	8 q
MASMasco Corporation	0.33%	463,472	$37M	trimmed−2%	+0.03 pp	3 q
UHALU-Haul Holding Company	0.29%	471,883	$32M	trimmed−14%	−0.08 pp	25 q
MUMicron Technology, Inc.	0.25%	240,000	$28M	trimmed−39%	−0.06 pp	23 q
FHBFirst Hawaiian, Inc.	0.20%	996,524	$22M	trimmed−49%	−0.21 pp	17 q
EAFGrafTech International Ltd.	0.18%	14,654,465	$20M	added+23%	−0.06 pp	23 q
unresolvedUnilever Spn.Adr 1:1	0.14%	299,630	$15M	added+3%	+0.01 pp	14 q
XOMExxon Mobil Corp	0.13%	120,400	$14M	trimmed−17%	−0.01 pp	44 q
NWSNews Corporation Class B	0.13%	526,032	$14M	trimmed−2%	0.00 pp	17 q
BRK.ABerkshire Hathaway Inc.	0.08%	14	$9M	held	—	44 q
TDYTeledyne Technologies Incorporated	0.06%	16,500	$7M	new	+0.06 pp	new
MAMastercard Incorporated	0.05%	11,130	$5M	held	—	17 q
CLXClorox Company	0.04%	31,100	$5M	held	—	44 q
HSYThe Hershey Company	0.04%	21,950	$4M	added×2.2	+0.02 pp	24 q
AONAon plc Class A	0.04%	11,670	$4M	new	+0.04 pp	new
LEGHLegacy Housing Corporation	0.03%	160,000	$3M	added+7%	−0.01 pp	16 q
MCOMoody's Corporation	0.03%	7,670	$3M	held	—	8 q
SPYState Street SPDR S&P 500 ETF Trust	0.03%	5,951	$3M	trimmed−90%	−0.23 pp	10 q
VZVerizon Communications	0.03%	85,000	$4M	trimmed−43%	−0.02 pp	3 q
CRMTAmerica's Car Mart Inc	0.02%	35,000	$2M	added+3%	0.00 pp	8 q
GOLDGold.com, Inc.	0.01%	45,000	$1M	held	—	3 q
AMPYAmplify Energy Corp.	0.01%	235,000	$2M	held	—	13 q
CATOCato Corp	0.01%	105,445	$608,418	held	—	13 q
NTRSNorthern Trust Corp	0.01%	9,500	$844,740	held	—	3 q
PMPhilip Morris International Inc.	0.01%	7,301	$668,918	held	—	44 q
RDIReading International, Inc Class A	0.01%	500,000	$920,000	held	—	31 q
MOAltria Group, Inc.	0.00%	5,800	$252,996	held	—	44 q
VVISA Inc.	0.00%	732	$204,287	new	0.00 pp	new
WFRDWeatherford International plc	—	−1,384,500	—	exited	−1.26 pp	—
USBU.S. Bancorp	—	−7,000	—	exited	0.00 pp	—