Yacktman Asset Management

Q3 2024 13F · by Stephen Yacktman, CIO

As of: Sep 30, 2024
Filed: Oct 30, 2024
US stock: $9.7B · prev $10.7B
Positions: 71 · prev 72
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

+1.5 pp in · −1.6 pp out

New 2 +0.81 pp
Added 5 +0.64 pp
Trimmed 53 −0.31 pp
Exited 3 −1.25 pp

The book

Focused · behaves like 30 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 3.5% a year, about 28.3 years per position

Low
Moderate
High

Top 5 positions28% of US stock

Positions71 in this filing · 3 exited


CNQCanadian Natural Resources Limited	9.88%	29,006,951	$963M	trimmed−2%	+0.04 pp	15 q
MSFTMicrosoft Corp	5.51%	1,248,427	$537M	trimmed−19%	−0.92 pp	46 q
UHAL.BU-Haul Holding Company	4.66%	6,312,011	$454M	trimmed−11%	+0.68 pp	8 q
PGProcter & Gamble Company	3.88%	2,182,456	$378M	trimmed−11%	+0.09 pp	46 q
PEPPepsiCo, Inc.	3.78%	2,166,715	$368M	trimmed−13%	−0.07 pp	46 q
GOOGAlphabet Inc. Class C	3.65%	2,129,249	$356M	trimmed−40%	−2.43 pp	23 q
CTSHCognizant Technology Solutions	3.65%	4,615,785	$356M	trimmed−6%	+0.52 pp	30 q
SCHWThe Charles Schwab Corporation	3.59%	5,404,281	$350M	trimmed−9%	−0.49 pp	22 q
NWSANews Corporation Class A	3.32%	12,150,358	$324M	trimmed−16%	−0.44 pp	22 q
FOXFox Corporation Class B	3.18%	7,998,680	$310M	trimmed−8%	+0.56 pp	23 q
BRK.BBERKSHIRE HATHAWAY Class B	2.75%	583,195	$268M	trimmed−15%	+0.13 pp	46 q
STTState Street Corporation	2.69%	2,967,829	$263M	trimmed−8%	+0.45 pp	46 q
RSReliance, Inc.	2.66%	897,949	$260M	trimmed−9%	+0.01 pp	12 q
INGRIngredion Incorporated	2.60%	1,844,704	$254M	trimmed−15%	+0.27 pp	18 q
JNJJohnson & Johnson	2.35%	1,413,400	$229M	trimmed−6%	+0.28 pp	46 q
FANGDiamondback Energy, Inc.	2.25%	1,269,831	$219M	trimmed−11%	−0.43 pp	9 q
EOGEOG Resources, Inc.	2.07%	1,638,342	$201M	trimmed−8%	−0.04 pp	9 q
BNYBank of New York Mellon Corporation	2.02%	2,747,378	$197M	trimmed−21%	+0.06 pp	46 q
NOCNorthrop Grumman Corp.	2.01%	371,760	$196M	trimmed−1%	+0.47 pp	15 q
KVUEKenvue Inc.	1.99%	8,381,404	$194M	added+3%	+0.60 pp	5 q
LMTLockheed Martin Corp.	1.98%	330,318	$193M	trimmed−0%	+0.53 pp	15 q
OLNOlin Corp.	1.93%	3,919,957	$188M	trimmed−7%	+0.07 pp	6 q
ELVElevance Health, Inc.	1.83%	343,138	$178M	trimmed−8%	−0.06 pp	40 q
COPConocoPhillips	1.82%	1,684,232	$177M	trimmed−7%	−0.13 pp	46 q
EBAYeBay Inc	1.81%	2,717,484	$177M	trimmed−7%	+0.33 pp	11 q
TSNTyson Foods, Inc.	1.73%	2,831,480	$169M	trimmed−7%	+0.09 pp	16 q
KOCoca-Cola Company	1.70%	2,313,137	$166M	trimmed−10%	+0.16 pp	46 q
LHXL3Harris Technologies, Inc.	1.56%	640,696	$152M	trimmed−1%	+0.19 pp	15 q
DISThe Walt Disney Company	1.52%	1,540,171	$148M	trimmed−6%	0.00 pp	23 q
BKNGBooking Holdings Inc.	1.51%	34,975	$147M	trimmed−9%	+0.08 pp	23 q
AWIArmstrong World Industries, Inc.	1.34%	993,588	$131M	trimmed−10%	+0.17 pp	15 q
ORCLOracle Corp	1.13%	646,955	$110M	trimmed−27%	−0.04 pp	46 q
FOXAFox Corporation Class A	1.12%	2,575,841	$109M	trimmed−1%	+0.28 pp	23 q
SYYSysco Corporation	1.10%	1,371,896	$107M	trimmed−7%	+0.11 pp	46 q
WFCWells Fargo & Co.	1.07%	1,839,797	$104M	trimmed−27%	−0.33 pp	46 q
DVNDevon Energy Corporation	0.96%	2,386,900	$93M	trimmed−28%	−0.52 pp	9 q
CLColgate-Palmolive Company	0.86%	806,900	$84M	trimmed−32%	−0.22 pp	46 q
TLNTalen Energy Corporation	0.81%	444,900	$79M	new	+0.81 pp	new
CSCOCisco Systems, Inc. (DE)	0.66%	1,206,914	$64M	trimmed−2%	+0.11 pp	46 q
GSGoldman Sachs Group Inc.	0.65%	127,447	$63M	trimmed−19%	−0.02 pp	46 q
WBDWarner Bros. Discovery, Inc. Series A	0.65%	7,680,765	$63M	trimmed−6%	+0.08 pp	10 q
DARDarling Ingredients Inc.	0.61%	1,605,869	$60M	trimmed−15%	−0.04 pp	3 q
CMCSAComcast Corp	0.54%	1,253,500	$52M	trimmed−12%	+0.02 pp	36 q
GLWCorning Incorporated	0.54%	1,170,000	$53M	trimmed−1%	+0.11 pp	46 q
EMBCEmbecta Corp.	0.37%	2,525,767	$36M	trimmed−10%	+0.04 pp	10 q
UHALU-Haul Holding Company	0.35%	435,032	$34M	trimmed−7%	+0.08 pp	27 q
MASMasco Corporation	0.27%	310,455	$26M	trimmed−32%	−0.02 pp	5 q
unresolvedUnilever Spn.Adr 1:1	0.19%	281,221	$18M	trimmed−6%	+0.04 pp	16 q
EAFGrafTech International Ltd.	0.16%	11,791,544	$16M	trimmed−14%	+0.03 pp	25 q
NWSNews Corporation Class B	0.14%	500,830	$14M	trimmed−3%	0.00 pp	19 q
BRK.ABerkshire Hathaway Inc.	0.11%	15	$10M	added+7%	+0.03 pp	46 q
MAMastercard Incorporated	0.06%	11,130	$5M	held	—	19 q
CLXClorox Company	0.05%	31,400	$5M	added+1%	+0.01 pp	46 q
HSYThe Hershey Company	0.04%	21,950	$4M	held	—	26 q
MSCIMSCI, Inc.	0.04%	7,110	$4M	held	—	2 q
MCOMoody's Corporation	0.04%	7,670	$4M	held	—	10 q
SPYState Street SPDR S&P 500 ETF Trust	0.04%	6,741	$4M	added+16%	+0.01 pp	12 q
AONAon plc Class A	0.04%	11,670	$4M	held	—	3 q
XOMExxon Mobil Corp	0.03%	24,400	$3M	trimmed−85%	−0.15 pp	46 q
TDYTeledyne Technologies Incorporated	0.03%	7,500	$3M	trimmed−55%	−0.03 pp	3 q
AMPYAmplify Energy Corp.	0.02%	235,000	$2M	held	—	15 q
LEGHLegacy Housing Corporation	0.02%	70,000	$2M	trimmed−46%	−0.01 pp	18 q
VZVerizon Communications	0.02%	52,000	$2M	held	—	5 q
GOLDGold.com, Inc.	0.01%	11,500	$507,840	trimmed−54%	0.00 pp	5 q
CRMTAmerica's Car Mart Inc	0.01%	32,000	$1M	added+10%	−0.01 pp	10 q
CATOCato Corp	0.01%	105,445	$526,171	held	—	15 q
NTRSNorthern Trust Corp	0.01%	9,500	$855,285	held	—	5 q
PMPhilip Morris International Inc.	0.01%	7,301	$886,341	held	—	46 q
RDIReading International, Inc Class A	0.01%	475,000	$774,250	trimmed−5%	0.00 pp	33 q
MOAltria Group, Inc.	0.00%	4,900	$250,096	held	—	46 q
VVISA Inc.	0.00%	732	$201,263	new	0.00 pp	new
KELKellanova	—	−2,141,913	—	exited	−1.16 pp	—
FHBFirst Hawaiian, Inc.	—	−272,894	—	exited	−0.05 pp	—
MUMicron Technology, Inc.	—	−30,000	—	exited	−0.04 pp	—