Yacktman Asset Management
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 6, 2025), Stephen Yacktman's Yacktman Asset Management reported 70 stock positions worth $7.4 billion. Its top holding was Canadian Natural Resources (CNQ) at 9.3% of the portfolio, followed by Microsoft (MSFT, 7.4%) and Schwab (charles) (SCHW, 5.6%). Compared with Q1 2025, it opened 1 new position, sold out of 1, added to 11 and reduced 49. The biggest buy was a new position in Unitedhealth (UNH) and the biggest sale Canadian Natural Resources (CNQ, shares −19%).
- Most Recent 13F
- Q2 2026
- Notable People
- Stephen Yacktman
- Location
- AUSTIN, TX
- CIK
- 0000905567
- Portfolio Value
- $7.4B (Q2 2025)
- SEC Filing
- 0000905567-25-000004 ↗ filed Aug 6, 2025
Holdings Value
Holdings 70 stocks · $7.4B
| CNQ Canadian Natural Resources | 9.33% | 22,126,877 | $694.8M | Reduce -18.9% |
| MSFT Microsoft Corp. | 7.39% | 1,105,264 | $549.8M | Reduce -8.2% |
| SCHW Schwab (charles) Corp. | 5.60% | 4,565,374 | $416.5M | Reduce -3.0% |
| UHAL.B U-Haul Holding Co.-Non Voting | 4.37% | 5,986,465 | $325.5M | Reduce -0.1% |
| PG The Procter & Gamble Co. | 4.32% | 2,018,491 | $321.6M | Reduce -4.7% |
| FOX Fox Corp. Class B | 4.32% | 6,226,402 | $321.5M | Reduce -5.2% |
| PEP Pepsico Inc. | 3.74% | 2,107,392 | $278.3M | Reduce -0.3% |
| CTSH Cognizant Tech Solutions-A | 3.58% | 3,410,672 | $266.1M | Reduce -2.4% |
| NWSA News Corp. Class A | 3.24% | 8,119,440 | $241.3M | Reduce -4.8% |
| RS Reliance Inc. | 3.16% | 748,372 | $234.9M | Reduce -1.9% |
| GOOG Alphabet Inc. Class C | 3.05% | 1,281,057 | $227.2M | Reduce -8.8% |
| INGR Ingredion Inc. | 2.87% | 1,577,486 | $213.9M | Reduce -1.2% |
| JNJ Johnson & Johnson | 2.80% | 1,363,534 | $208.3M | Reduce -0.7% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 2.37% | 1,424,444 | $176.6M | Reduce -3.6% |
| KVUE Kenvue Inc. | 2.30% | 8,187,172 | $171.4M | Reduce -1.0% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.13% | 326,867 | $158.8M | Reduce -13.3% |
| KO The Coca-Cola Co. | 2.11% | 2,216,552 | $156.8M | Reduce -1.0% |
| EBAY eBay Inc. | 2.04% | 2,037,683 | $151.7M | Reduce -5.5% |
| EOG EOG Resources Inc. | 2.02% | 1,259,812 | $150.7M | Reduce -5.0% |
| TSN Tyson Foods Inc. Class A | 1.96% | 2,612,306 | $146.1M | Reduce -0.6% |
| COP Conocophillips | 1.96% | 1,625,996 | $145.9M | Reduce -3.6% |
| FANG Diamondback Energy Inc. | 1.94% | 1,050,617 | $144.4M | Reduce -0.1% |
| AWI Armstrong World Industries | 1.88% | 861,335 | $139.9M | Reduce -1.0% |
| ELV Elevance Health Inc. | 1.78% | 341,340 | $132.8M | Reduce -0.3% |
| LHX L3HARRIS Technologies Inc. | 1.75% | 519,641 | $130.3M | Reduce -5.6% |
| TLN Talen Energy Corp. | 1.73% | 443,700 | $129.0M | Reduce -0.3% |
| STT State Street Corp. | 1.73% | 1,208,504 | $128.5M | Reduce -2.3% |
| NOC Northrop Grumman Corp. | 1.49% | 222,144 | $111.1M | Reduce -5.1% |
| LMT Lockheed Martin Corp. | 1.39% | 222,615 | $103.1M | Reduce -7.8% |
| SYY Sysco Corp. | 1.34% | 1,318,241 | $99.8M | Reduce -2.5% |
| FOXA Fox Corp. Class A | 1.23% | 1,636,463 | $91.7M | Reduce -6.4% |
| WBD Warner Bros Discovery Inc. | 1.17% | 7,626,797 | $87.4M | Reduce -0.3% |
| OLN Olin Corp. | 1.10% | 4,060,376 | $81.6M | Add +1.0% |
| CL Colgate-Palmolive Co. | 0.98% | 802,400 | $72.9M | No change |
| DAR Darling Ingredients Inc. | 0.80% | 1,578,504 | $59.9M | Reduce -0.3% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.66% | 539,131 | $49.1M | Reduce -6.0% |
| CMCSA Comcast Corp. Class A | 0.60% | 1,243,500 | $44.4M | No change |
| UNH Unitedhealth Group Inc. | 0.54% | 129,000 | $40.2M | New |
| CSCO Cisco Systems Inc. | 0.36% | 386,100 | $26.8M | Reduce -12.8% |
| ORCL Oracle Corp. | 0.31% | 105,828 | $23.1M | Reduce -4.8% |
| EMBC Embecta Corp. | 0.31% | 2,373,386 | $23.0M | Add +0.7% |
| DVN Devon Energy Corp. | 0.27% | 642,409 | $20.4M | Reduce -0.6% |
| UHAL U-Haul Holding Co. | 0.27% | 332,758 | $20.2M | Reduce -0.8% |
| MAS Masco Corp. | 0.22% | 258,206 | $16.6M | Reduce -3.2% |
| UL Unilever PLC | 0.20% | 239,440 | $14.6M | Reduce -4.4% |
| WFC Wells Fargo & Co. | 0.16% | 151,707 | $12.2M | Reduce -4.8% |
| EAF Graftech International Ltd. | 0.14% | 10,826,186 | $10.5M | Add +1.2% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.13% | 13 | $9.5M | Reduce -7.1% |
| MA Mastercard Inc. Class A | 0.09% | 11,670 | $6.6M | Add +4.8% |
| BKNG Booking Holdings Inc. | 0.09% | 1,115 | $6.5M | Reduce -2.4% |
| HSY The Hershey Co. | 0.09% | 38,250 | $6.3M | Add +44.5% |
| MSCI MSCI Inc. | 0.08% | 10,900 | $6.3M | Add +53.3% |
| MCO Moody's Corp. | 0.08% | 12,425 | $6.2M | Add +62.0% |
| GS Goldman Sachs Group Inc. | 0.08% | 8,700 | $6.2M | Reduce -1.9% |
| CLX Clorox Company | 0.07% | 45,210 | $5.4M | Add +37.2% |
| AON Aon PLC Class A | 0.06% | 12,915 | $4.6M | Add +10.7% |
| VZ Verizon Communications Inc. | 0.03% | 51,000 | $2.2M | Reduce -1.9% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.03% | 3,503 | $2.2M | Reduce -16.6% |
| TDY Teledyne Technologies Inc. | 0.02% | 3,500 | $1.8M | Reduce -22.2% |
| XOM Exxon Mobil Corp. | 0.02% | 16,400 | $1.8M | No change |
| LEGH Legacy Housing Corp. | 0.02% | 60,000 | $1.4M | Add +17.6% |
| PM Philip Morris International | 0.02% | 6,700 | $1.2M | Reduce -8.2% |
| NTRS Northern Trust Corp. | 0.02% | 9,500 | $1.2M | No change |
| AMPY Amplify Energy Corp. | 0.01% | 240,000 | $768K | Add +26.3% |
| CRMT America's Car-Mart Inc. | 0.01% | 11,000 | $616K | Reduce -15.4% |
| RDI Reading International Inc. Class A | 0.01% | 385,000 | $516K | No change |
| CATO Cato Corp. Class A | 0.00% | 105,445 | $296K | No change |
| MO Altria Group Inc. | 0.00% | 4,900 | $287K | No change |
| NWS News Corp. Class B | 0.00% | 8,140 | $279K | No change |
| V Visa Inc. Class A | 0.00% | 732 | $260K | No change |
Portfolio Sells Q1 2025 → Q2 2025
| CNQ Canadian Natural Resources | Reduce -18.9% | 9.33% | −1.71 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -13.3% | 2.13% | −0.51 |
| PEP Pepsico Inc. | Reduce -0.3% | 3.74% | −0.43 |
| PG The Procter & Gamble Co. | Reduce -4.7% | 4.32% | −0.42 |
| COP Conocophillips | Reduce -3.6% | 1.96% | −0.37 |
| KVUE Kenvue Inc. | Reduce -1.0% | 2.30% | −0.31 |
| UHAL.B U-Haul Holding Co.-Non Voting | Reduce -0.1% | 4.37% | −0.29 |
| FANG Diamondback Energy Inc. | Reduce -0.1% | 1.94% | −0.27 |
| TSN Tyson Foods Inc. Class A | Reduce -0.6% | 1.96% | −0.24 |
| FOX Fox Corp. Class B | Reduce -5.2% | 4.32% | −0.23 |
| EOG EOG Resources Inc. | Reduce -5.0% | 2.02% | −0.21 |
| JNJ Johnson & Johnson | Reduce -0.7% | 2.80% | −0.19 |
| ELV Elevance Health Inc. | Reduce -0.3% | 1.78% | −0.17 |
| NOC Northrop Grumman Corp. | Reduce -5.1% | 1.49% | −0.08 |
| FOXA Fox Corp. Class A | Reduce -6.4% | 1.23% | −0.07 |
| DVN Devon Energy Corp. | Reduce -0.6% | 0.27% | −0.04 |
| LMT Lockheed Martin Corp. | Reduce -7.8% | 1.39% | −0.03 |
| MAS Masco Corp. | Reduce -3.2% | 0.22% | −0.02 |
| BRK.A Berkshire Hathaway Inc. Class A | Reduce -7.1% | 0.13% | −0.02 |
| UHAL U-Haul Holding Co. | Reduce -0.8% | 0.27% | −0.02 |
| TDY Teledyne Technologies Inc. | Reduce -22.2% | 0.02% | −0.01 |
| GOLD Gold.com Inc. | Sold out | 0.00% | −0.00 |
| KO The Coca-Cola Co. | Reduce -1.0% | 2.11% | −0.00 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -16.6% | 0.03% | −0.00 |
| VZ Verizon Communications Inc. | Reduce -1.9% | 0.03% | −0.00 |
| CRMT America's Car-Mart Inc. | Reduce -15.4% | 0.01% | +0.00 |
| CSCO Cisco Systems Inc. | Reduce -12.8% | 0.36% | +0.00 |
| UL Unilever PLC | Reduce -4.4% | 0.20% | +0.00 |
| PM Philip Morris International | Reduce -8.2% | 0.02% | +0.00 |
| SYY Sysco Corp. | Reduce -2.5% | 1.34% | +0.01 |
| WFC Wells Fargo & Co. | Reduce -4.8% | 0.16% | +0.01 |
| BKNG Booking Holdings Inc. | Reduce -2.4% | 0.09% | +0.02 |
| GS Goldman Sachs Group Inc. | Reduce -1.9% | 0.08% | +0.02 |
| BNY Bank of New York Mellon Corp. | Reduce -6.0% | 0.66% | +0.03 |
| INGR Ingredion Inc. | Reduce -1.2% | 2.87% | +0.04 |
| CTSH Cognizant Tech Solutions-A | Reduce -2.4% | 3.58% | +0.06 |
| WBD Warner Bros Discovery Inc. | Reduce -0.3% | 1.17% | +0.10 |
| ORCL Oracle Corp. | Reduce -4.8% | 0.31% | +0.11 |
| EBAY eBay Inc. | Reduce -5.5% | 2.04% | +0.12 |
| DAR Darling Ingredients Inc. | Reduce -0.3% | 0.80% | +0.15 |
| GOOG Alphabet Inc. Class C | Reduce -8.8% | 3.05% | +0.17 |
| NWSA News Corp. Class A | Reduce -4.8% | 3.24% | +0.19 |
| LHX L3HARRIS Technologies Inc. | Reduce -5.6% | 1.75% | +0.24 |
| RS Reliance Inc. | Reduce -1.9% | 3.16% | +0.26 |
| AWI Armstrong World Industries | Reduce -1.0% | 1.88% | +0.27 |
| STT State Street Corp. | Reduce -2.3% | 1.73% | +0.27 |
| DIS The Walt Disney Co. | Reduce -3.6% | 2.37% | +0.46 |
| TLN Talen Energy Corp. | Reduce -0.3% | 1.73% | +0.57 |
| SCHW Schwab (charles) Corp. | Reduce -3.0% | 5.60% | +0.75 |
| MSFT Microsoft Corp. | Reduce -8.2% | 7.39% | +1.45 |
Portfolio Buys Q1 2025 → Q2 2025
| UNH Unitedhealth Group Inc. | New | 0.54% | +0.54 |
| MCO Moody's Corp. | Add +62.0% | 0.08% | +0.04 |
| MSCI MSCI Inc. | Add +53.3% | 0.08% | +0.03 |
| HSY The Hershey Co. | Add +44.5% | 0.09% | +0.03 |
| EAF Graftech International Ltd. | Add +1.2% | 0.14% | +0.02 |
| CLX Clorox Company | Add +37.2% | 0.07% | +0.01 |
| MA Mastercard Inc. Class A | Add +4.8% | 0.09% | +0.01 |
| LEGH Legacy Housing Corp. | Add +17.6% | 0.02% | +0.00 |
| AMPY Amplify Energy Corp. | Add +26.3% | 0.01% | +0.00 |
| AON Aon PLC Class A | Add +10.7% | 0.06% | +0.00 |
| EMBC Embecta Corp. | Add +0.7% | 0.31% | −0.09 |
| OLN Olin Corp. | Add +1.0% | 1.10% | −0.19 |
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 |