Yacktman Asset Management

Q1 2026 13F · by Stephen Yacktman, CIO

As of: Mar 31, 2026
Filed: May 1, 2026
US stock: $7.5B · prev $7.1B
Positions: 76 · 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%

Moves67 since the prior filing

+1.5 pp in · −1.4 pp out

New 5 +2.89 pp
Added 36 −1.41 pp
Trimmed 25 −0.70 pp
Exited 1 −0.72 pp

The book

Focused · behaves like 28 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 12% a year, about 8.5 years per position

Low
Moderate
High

Top 5 positions29% of US stock

Positions76 in this filing · 1 exited


CNQCanadian Natural Resources Limited	10.75%	16,541,598	$806M	trimmed−12%	+1.85 pp	21 q
MSFTMicrosoft Corp	4.90%	992,916	$368M	added+3%	−1.62 pp	52 q
SCHWThe Charles Schwab Corporation	4.89%	3,904,856	$367M	trimmed−1%	−0.62 pp	28 q
GOOGAlphabet Inc. Class C	4.31%	1,126,534	$323M	trimmed−0%	−0.65 pp	29 q
PEPPepsiCo, Inc.	4.20%	2,027,967	$315M	trimmed−0%	+0.12 pp	52 q
JNJJohnson & Johnson	4.07%	1,249,409	$305M	trimmed−0%	+0.44 pp	52 q
FOXFox Corporation Class B	3.94%	5,566,518	$296M	trimmed−0%	−1.12 pp	29 q
PGProcter & Gamble Company	3.72%	1,931,131	$279M	added+1%	−0.13 pp	52 q
UHAL.BU-Haul Holding Company	3.60%	6,048,331	$270M	added+5%	−0.19 pp	14 q
RSReliance, Inc.	2.81%	693,126	$211M	added0%	+0.01 pp	18 q
COPConocoPhillips	2.78%	1,581,521	$209M	added+2%	+0.75 pp	52 q
FANGDiamondback Energy, Inc.	2.65%	1,003,970	$199M	added+1%	+0.55 pp	15 q
CTSHCognizant Technology Solutions	2.46%	3,008,138	$185M	added+1%	−1.01 pp	36 q
NWSANews Corporation Class A	2.46%	7,388,648	$184M	added+1%	−0.22 pp	28 q
EOGEOG Resources, Inc.	2.36%	1,221,843	$177M	added+3%	+0.62 pp	15 q
INGRIngredion Incorporated	2.16%	1,440,258	$162M	added+1%	−0.04 pp	24 q
TSNTyson Foods, Inc.	2.15%	2,514,870	$161M	added+1%	+0.11 pp	22 q
KOCoca-Cola Company	2.13%	2,098,755	$160M	trimmed−0%	+0.07 pp	52 q
BRK.BBERKSHIRE HATHAWAY Class B	2.01%	314,981	$151M	added+1%	−0.19 pp	52 q
LHXL3Harris Technologies, Inc.	1.88%	407,875	$141M	trimmed−0%	+0.20 pp	21 q
EBAYeBay Inc	1.86%	1,529,194	$139M	trimmed−0%	−0.01 pp	17 q
KVUEKenvue Inc.	1.82%	7,932,459	$137M	added+1%	−0.08 pp	11 q
NOCNorthrop Grumman Corp.	1.77%	194,173	$132M	added0%	+0.22 pp	21 q
DISThe Walt Disney Company	1.73%	1,347,536	$130M	added+1%	−0.39 pp	29 q
LMTLockheed Martin Corp.	1.72%	213,628	$129M	trimmed−0%	+0.27 pp	21 q
AWIArmstrong World Industries, Inc.	1.63%	741,937	$122M	added0%	−0.35 pp	21 q
OLNOlin Corp.	1.62%	4,092,211	$122M	added+4%	+0.48 pp	12 q
EWYiShares MSCI South Korea ETF	1.61%	980,605	$121M	trimmed−14%	+0.05 pp	2 q
STTState Street Corporation	1.53%	909,191	$115M	trimmed−0%	−0.12 pp	52 q
TLNTalen Energy Corporation	1.53%	359,900	$115M	trimmed−0%	−0.36 pp	7 q
PYPLPayPal Holdings, Inc.	1.38%	2,290,642	$104M	new	+1.38 pp	new
ELVElevance Health, Inc.	1.31%	334,315	$98M	added+2%	−0.30 pp	46 q
SYYSysco Corporation	1.17%	1,234,872	$88M	added+1%	−0.09 pp	52 q
DARDarling Ingredients Inc.	1.16%	1,403,668	$87M	added+1%	+0.46 pp	9 q
FOXAFox Corporation Class A	0.93%	1,188,374	$69M	trimmed−1%	−0.30 pp	29 q
CLColgate-Palmolive Company	0.90%	789,400	$67M	added0%	+0.03 pp	52 q
FDSFactset Research Systems	0.65%	225,874	$49M	new	+0.65 pp	new
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	0.61%	168,460	$46M	added+1%	−0.16 pp	4 q
BNYBank of New York Mellon Corporation	0.57%	357,698	$42M	trimmed−2%	−0.02 pp	52 q
AVTRAvantor, Inc.	0.50%	4,745,000	$37M	new	+0.50 pp	new
CMCSAComcast Corp	0.45%	1,167,500	$34M	added+1%	−0.04 pp	42 q
EMBCEmbecta Corp.	0.43%	3,671,877	$32M	added+62%	+0.05 pp	16 q
BRBRBellRing Brands, Inc.	0.32%	1,498,000	$24M	new	+0.32 pp	new
DVNDevon Energy Corporation	0.31%	458,844	$23M	added+6%	+0.09 pp	15 q
BILState Street SPDR Bloomberg 1-3 Month T-Bill ETF	0.26%	212,115	$19M	added+26%	+0.05 pp	2 q
CSCOCisco Systems, Inc. (DE)	0.22%	210,580	$16M	trimmed−38%	−0.15 pp	52 q
UHALU-Haul Holding Company	0.21%	325,369	$16M	trimmed−1%	−0.02 pp	33 q
MASMasco Corporation	0.20%	244,718	$15M	added+5%	−0.01 pp	11 q
LEGHLegacy Housing Corporation	0.19%	705,675	$14M	added×4.0	+0.14 pp	24 q
ULUnilever plc	0.15%	200,113	$11M	added+2%	−0.03 pp	2 q
WFCWells Fargo & Co.	0.11%	100,437	$8M	trimmed−2%	−0.02 pp	52 q
EAFGrafTech International Ltd.	0.10%	1,067,386	$7M	added+7%	−0.12 pp	31 q
FICOFair Isaac Corporation	0.09%	6,157	$7M	added×2.2	+0.03 pp	3 q
MSCIMSCI, Inc.	0.08%	10,900	$6M	held	—	8 q
MAMastercard Incorporated	0.08%	11,670	$6M	held	—	25 q
CLXClorox Company	0.07%	48,095	$5M	held	—	52 q
MCOMoody's Corporation	0.07%	12,405	$5M	trimmed−0%	−0.02 pp	16 q
GSGoldman Sachs Group Inc.	0.06%	5,095	$4M	added+2%	0.00 pp	52 q
AONAon plc Class A	0.06%	12,915	$4M	held	—	9 q
CPRTCopart Inc	0.05%	110,245	$4M	added+10%	0.00 pp	3 q
INTUIntuit Inc	0.04%	7,375	$3M	new	+0.04 pp	new
MRSHMarsh	0.04%	19,380	$3M	added+1%	−0.01 pp	3 q
VRSKVerisk Analytics, Inc.	0.04%	14,775	$3M	trimmed−4%	−0.01 pp	3 q
CRMTAmerica's Car Mart Inc	0.03%	195,000	$2M	added+26%	−0.02 pp	16 q
SPYState Street SPDR S&P 500 ETF Trust	0.03%	3,768	$2M	trimmed−88%	−0.28 pp	18 q
AMPYAmplify Energy Corp.	0.02%	210,000	$1M	trimmed−9%	+0.01 pp	21 q
NTRSNorthern Trust Corp	0.02%	9,500	$1M	held	—	11 q
TDYTeledyne Technologies Incorporated	0.02%	2,500	$2M	added+19%	0.00 pp	9 q
PMPhilip Morris International Inc.	0.01%	5,900	$975,506	trimmed−6%	0.00 pp	52 q
VZVerizon Communications	0.01%	20,000	$1M	trimmed−50%	−0.01 pp	11 q
GOLDGold.com, Inc.	0.00%	5,000	$200,400	trimmed−29%	0.00 pp	3 q
MOAltria Group, Inc.	0.00%	4,200	$277,158	held	—	52 q
CATOCato Corp	0.00%	105,445	$298,409	held	—	21 q
NWSNews Corporation Class B	0.00%	8,140	$232,071	held	—	25 q
RDIReading International, Inc Class A	0.00%	265,000	$299,450	held	—	39 q
VVISA Inc.	0.00%	732	$221,240	held	—	7 q
WBDWarner Bros. Discovery, Inc. Series A	—	−1,782,860	—	exited	−0.72 pp	—