Yacktman Asset Management

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 30, 2025), Stephen Yacktman's Yacktman Asset Management reported 70 stock positions worth $7.6 billion. Its top holding was Canadian Natural Resources (CNQ) at 11.0% of the portfolio, followed by Microsoft (MSFT, 5.9%) and Schwab (charles) (SCHW, 4.8%). Compared with Q4 2024, it sold out of 1, added to 9 and reduced 45. The biggest buy was Elevance Health (ELV, shares +0%) and the biggest sale State Street (STT, shares −49%).

Most Recent 13F: Q2 2026
Notable People: Stephen Yacktman
Location: AUSTIN, TX
CIK: 0000905567
Portfolio Value: $7.6B (Q1 2025)
SEC Filing: 0000905567-25-000002 ↗ filed Apr 30, 2025

Holdings Value

Holdings 70 stocks · $7.6B


CNQ Canadian Natural Resources	11.04%	27,266,207	$839.8M	Reduce -5.8%
MSFT Microsoft Corp.	5.94%	1,203,480	$451.8M	Reduce -1.1%
SCHW Schwab (charles) Corp.	4.85%	4,709,043	$368.6M	Reduce -3.4%
PG The Procter & Gamble Co.	4.74%	2,117,468	$360.9M	Reduce -1.9%
UHAL.B U-Haul Holding Co.-Non Voting	4.66%	5,994,800	$354.8M	Reduce -3.0%
FOX Fox Corp. Class B	4.55%	6,568,340	$346.2M	Reduce -8.8%
PEP Pepsico Inc.	4.17%	2,113,106	$316.8M	Add +0.5%
CTSH Cognizant Tech Solutions-A	3.52%	3,495,625	$267.4M	Reduce -13.9%
NWSA News Corp. Class A	3.05%	8,528,584	$232.1M	Reduce -8.0%
JNJ Johnson & Johnson	2.99%	1,372,459	$227.6M	Reduce -1.0%
RS Reliance Inc.	2.90%	763,184	$220.4M	Reduce -11.0%
GOOG Alphabet Inc. Class C	2.88%	1,404,452	$219.4M	Reduce -17.1%
INGR Ingredion Inc.	2.84%	1,597,135	$215.9M	Reduce -3.5%
BRK.B Berkshire Hathaway Inc. Class B	2.64%	376,791	$200.7M	Reduce -20.1%
KVUE Kenvue Inc.	2.61%	8,270,488	$198.3M	Reduce -0.4%
COP Conocophillips	2.33%	1,686,239	$177.1M	Reduce -10.5%
EOG EOG Resources Inc.	2.24%	1,325,841	$170.0M	Reduce -26.6%
FANG Diamondback Energy Inc.	2.21%	1,051,928	$168.2M	Reduce -24.2%
TSN Tyson Foods Inc. Class A	2.20%	2,628,427	$167.7M	Reduce -1.5%
KO The Coca-Cola Co.	2.11%	2,239,624	$160.4M	Reduce -2.1%
ELV Elevance Health Inc.	1.96%	342,468	$149.0M	Add +0.1%
EBAY eBay Inc.	1.92%	2,157,368	$146.1M	Reduce -13.1%
DIS The Walt Disney Co. filed as DISNEY WALT CO	1.92%	1,477,267	$145.8M	Reduce -2.0%
AWI Armstrong World Industries	1.61%	870,289	$122.6M	Reduce -7.2%
NOC Northrop Grumman Corp.	1.58%	234,193	$119.9M	Reduce -18.3%
LHX L3HARRIS Technologies Inc.	1.51%	550,506	$115.2M	Reduce -8.4%
STT State Street Corp.	1.46%	1,237,452	$110.8M	Reduce -49.0%
LMT Lockheed Martin Corp.	1.42%	241,572	$107.9M	Reduce -7.5%
SYY Sysco Corp.	1.33%	1,351,919	$101.4M	Reduce -0.5%
FOXA Fox Corp. Class A	1.30%	1,747,654	$98.9M	Reduce -29.0%
OLN Olin Corp.	1.28%	4,020,243	$97.5M	Add +3.1%
TLN Talen Energy Corp.	1.17%	444,900	$88.8M	No change
WBD Warner Bros Discovery Inc.	1.08%	7,647,415	$82.1M	Add +0.0%
CL Colgate-Palmolive Co.	0.99%	802,400	$75.2M	No change
DAR Darling Ingredients Inc.	0.65%	1,582,461	$49.4M	Add +1.8%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP	0.63%	573,868	$48.1M	Reduce -52.7%
CMCSA Comcast Corp. Class A	0.60%	1,243,500	$45.9M	Reduce -0.3%
EMBC Embecta Corp.	0.40%	2,357,317	$30.1M	Reduce -1.1%
CSCO Cisco Systems Inc.	0.36%	442,914	$27.3M	Reduce -62.5%
DVN Devon Energy Corp.	0.32%	646,344	$24.2M	Add +2.0%
UHAL U-Haul Holding Co.	0.29%	335,478	$21.9M	Reduce -9.8%
MAS Masco Corp.	0.24%	266,686	$18.5M	Reduce -10.2%
ORCL Oracle Corp.	0.20%	111,166	$15.5M	Reduce -35.6%
UL Unilever PLC	0.20%	250,411	$14.9M	Reduce -7.9%
WFC Wells Fargo & Co.	0.15%	159,323	$11.4M	Reduce -85.0%
BRK.A Berkshire Hathaway Inc. Class A	0.15%	14	$11.2M	No change
EAF Graftech International Ltd.	0.12%	10,698,696	$9.4M	Add +0.6%
MA Mastercard Inc. Class A	0.08%	11,130	$6.1M	No change
BKNG Booking Holdings Inc.	0.07%	1,142	$5.3M	Reduce -47.1%
CLX Clorox Company	0.06%	32,950	$4.9M	Add +5.1%
GS Goldman Sachs Group Inc.	0.06%	8,873	$4.8M	Reduce -92.0%
AON Aon PLC Class A	0.06%	11,670	$4.7M	No change
HSY The Hershey Co.	0.06%	26,470	$4.5M	Add +20.6%
MSCI MSCI Inc.	0.05%	7,110	$4.0M	No change
MCO Moody's Corp.	0.05%	7,670	$3.6M	No change
VZ Verizon Communications Inc.	0.03%	52,000	$2.4M	No change
SPY SS SPDR S&P 500 ETF Trust-US	0.03%	4,202	$2.4M	Reduce -89.0%
TDY Teledyne Technologies Inc.	0.03%	4,500	$2.2M	No change
XOM Exxon Mobil Corp.	0.03%	16,400	$2.0M	No change
LEGH Legacy Housing Corp.	0.02%	51,000	$1.3M	Reduce -15.0%
PM Philip Morris International	0.02%	7,301	$1.2M	No change
NTRS Northern Trust Corp.	0.01%	9,500	$937K	No change
AMPY Amplify Energy Corp.	0.01%	190,000	$711K	Reduce -7.3%
CRMT America's Car-Mart Inc.	0.01%	13,000	$590K	Reduce -18.8%
RDI Reading International Inc. Class A	0.01%	385,000	$535K	No change
CATO Cato Corp. Class A	0.00%	105,445	$351K	No change
MO Altria Group Inc.	0.00%	4,900	$294K	No change
V Visa Inc. Class A	0.00%	732	$257K	No change
NWS News Corp. Class B	0.00%	8,140	$247K	Reduce -2.9%
GOLD Gold.com Inc. filed as A-MARK PRECIOUS METALS INC	0.00%	9,000	$228K	Reduce -21.7%

Portfolio Sells Q4 2024 → Q1 2025


STT State Street Corp.	Reduce -49.0%	1.46%	−1.33
GOOG Alphabet Inc. Class C	Reduce -17.1%	2.88%	−0.89
WFC Wells Fargo & Co.	Reduce -85.0%	0.15%	−0.72
GS Goldman Sachs Group Inc.	Reduce -92.0%	0.06%	−0.67
GLW Corning Inc.	Sold out	0.00%	−0.47
BNY Bank of New York Mellon Corp.	Reduce -52.7%	0.63%	−0.46
CSCO Cisco Systems Inc.	Reduce -62.5%	0.36%	−0.46
FANG Diamondback Energy Inc.	Reduce -24.2%	2.21%	−0.45
EOG EOG Resources Inc.	Reduce -26.6%	2.24%	−0.35
SPY SS SPDR S&P 500 ETF Trust-US	Reduce -89.0%	0.03%	−0.23
EMBC Embecta Corp.	Reduce -1.1%	0.40%	−0.18
CTSH Cognizant Tech Solutions-A	Reduce -13.9%	3.52%	−0.13
ORCL Oracle Corp.	Reduce -35.6%	0.20%	−0.13
FOXA Fox Corp. Class A	Reduce -29.0%	1.30%	−0.10
LMT Lockheed Martin Corp.	Reduce -7.5%	1.42%	−0.07
MSFT Microsoft Corp.	Reduce -1.1%	5.94%	−0.06
BKNG Booking Holdings Inc.	Reduce -47.1%	0.07%	−0.06
DIS The Walt Disney Co.	Reduce -2.0%	1.92%	−0.05
UHAL U-Haul Holding Co.	Reduce -9.8%	0.29%	−0.01
MAS Masco Corp.	Reduce -10.2%	0.24%	−0.01
AMPY Amplify Energy Corp.	Reduce -7.3%	0.01%	−0.01
CRMT America's Car-Mart Inc.	Reduce -18.8%	0.01%	−0.00
GOLD Gold.com Inc.	Reduce -21.7%	0.00%	−0.00
LEGH Legacy Housing Corp.	Reduce -15.0%	0.02%	−0.00
NWS News Corp. Class B	Reduce -2.9%	0.00%	+0.00
NOC Northrop Grumman Corp.	Reduce -18.3%	1.58%	+0.00
UL Unilever PLC	Reduce -7.9%	0.20%	+0.02
UHAL.B U-Haul Holding Co.-Non Voting	Reduce -3.0%	4.66%	+0.03
LHX L3HARRIS Technologies Inc.	Reduce -8.4%	1.51%	+0.04
CMCSA Comcast Corp. Class A	Reduce -0.3%	0.60%	+0.06
AWI Armstrong World Industries	Reduce -7.2%	1.61%	+0.06
NWSA News Corp. Class A	Reduce -8.0%	3.05%	+0.07
SYY Sysco Corp.	Reduce -0.5%	1.33%	+0.12
EBAY eBay Inc.	Reduce -13.1%	1.92%	+0.12
BRK.B Berkshire Hathaway Inc. Class B	Reduce -20.1%	2.64%	+0.14
COP Conocophillips	Reduce -10.5%	2.33%	+0.14
INGR Ingredion Inc.	Reduce -3.5%	2.84%	+0.18
RS Reliance Inc.	Reduce -11.0%	2.90%	+0.20
TSN Tyson Foods Inc. Class A	Reduce -1.5%	2.20%	+0.41
KO The Coca-Cola Co.	Reduce -2.1%	2.11%	+0.44
PG The Procter & Gamble Co.	Reduce -1.9%	4.74%	+0.51
KVUE Kenvue Inc.	Reduce -0.4%	2.61%	+0.53
CNQ Canadian Natural Resources	Reduce -5.8%	11.04%	+0.60
SCHW Schwab (charles) Corp.	Reduce -3.4%	4.85%	+0.63
JNJ Johnson & Johnson	Reduce -1.0%	2.99%	+0.65
FOX Fox Corp. Class B	Reduce -8.8%	4.55%	+0.70

Portfolio Buys Q4 2024 → Q1 2025


ELV Elevance Health Inc.	Add +0.1%	1.96%	+0.48
PEP Pepsico Inc.	Add +0.5%	4.17%	+0.43
WBD Warner Bros Discovery Inc.	Add +0.0%	1.08%	+0.13
DVN Devon Energy Corp.	Add +2.0%	0.32%	+0.08
DAR Darling Ingredients Inc.	Add +1.8%	0.65%	+0.04
HSY The Hershey Co.	Add +20.6%	0.06%	+0.02
CLX Clorox Company	Add +5.1%	0.06%	+0.00
EAF Graftech International Ltd.	Add +0.6%	0.12%	−0.09
OLN Olin Corp.	Add +3.1%	1.28%	−0.26

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	74	$8.1B	CNQ, BRK.B, GOOG, SCHW, MSFT
Q1 2026	76	$7.5B	CNQ, MSFT, SCHW, GOOG, PEP
Q4 2025	72	$7.1B	CNQ, MSFT, SCHW, FOX, GOOG
Q3 2025	70	$7.3B	CNQ, MSFT, SCHW, FOX, PG
Q2 2025	70	$7.4B	CNQ, MSFT, SCHW, UHAL.B, PG
Q1 2025	70	$7.6B	CNQ, MSFT, SCHW, PG, UHAL.B
Q4 2024	71	$8.6B	CNQ, MSFT, UHAL.B, PG, SCHW
Q3 2024	71	$9.7B	CNQ, MSFT, UHAL.B, PG, PEP
Q2 2024	72	$10.7B	CNQ, MSFT, GOOG, SCHW, UHAL.B
Q1 2024	73	$11.1B	CNQ, MSFT, GOOG, UHAL.B, SCHW