Yacktman Asset Management
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 4, 2025), Stephen Yacktman's Yacktman Asset Management reported 70 stock positions worth $7.3 billion. Its top holding was Canadian Natural Resources (CNQ) at 9.2% of the portfolio, followed by Microsoft (MSFT, 7.3%) and Schwab (charles) (SCHW, 5.5%). Compared with Q2 2025, it opened 5 new positions, sold out of 5, added to 4 and reduced 52. The biggest buy was Unitedhealth (UNH, shares +35%) and the biggest sale Kenvue (KVUE, shares −3%).
- Most Recent 13F
- Q2 2026
- Notable People
- Stephen Yacktman
- Location
- AUSTIN, TX
- CIK
- 0000905567
- Portfolio Value
- $7.3B (Q3 2025)
- SEC Filing
- 0000905567-25-000006 ↗ filed Nov 4, 2025
Holdings Value
Holdings 70 stocks · $7.3B
| CNQ Canadian Natural Resources | 9.21% | 20,908,511 | $668.2M | Reduce -5.5% |
| MSFT Microsoft Corp. | 7.34% | 1,028,018 | $532.5M | Reduce -7.0% |
| SCHW Schwab (charles) Corp. | 5.52% | 4,194,646 | $400.5M | Reduce -8.1% |
| FOX Fox Corp. Class B | 4.58% | 5,798,698 | $332.2M | Reduce -6.9% |
| PG The Procter & Gamble Co. | 4.11% | 1,941,870 | $298.4M | Reduce -3.8% |
| UHAL.B U-Haul Holding Co.-Non Voting | 4.07% | 5,801,620 | $295.3M | Reduce -3.1% |
| PEP Pepsico Inc. | 3.99% | 2,060,313 | $289.4M | Reduce -2.2% |
| GOOG Alphabet Inc. Class C | 3.91% | 1,166,413 | $284.1M | Reduce -8.9% |
| JNJ Johnson & Johnson | 3.29% | 1,287,234 | $238.7M | Reduce -5.6% |
| NWSA News Corp. Class A | 3.14% | 7,422,037 | $227.9M | Reduce -8.6% |
| CTSH Cognizant Tech Solutions-A | 3.05% | 3,299,434 | $221.3M | Reduce -3.3% |
| RS Reliance Inc. | 2.72% | 702,190 | $197.2M | Reduce -6.2% |
| INGR Ingredion Inc. | 2.43% | 1,442,086 | $176.1M | Reduce -8.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.22% | 320,356 | $161.1M | Reduce -2.0% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 2.14% | 1,357,848 | $155.5M | Reduce -4.7% |
| TLN Talen Energy Corp. | 2.11% | 360,100 | $153.2M | Reduce -18.8% |
| COP Conocophillips | 2.07% | 1,587,743 | $150.2M | Reduce -2.4% |
| AWI Armstrong World Industries | 2.05% | 759,285 | $148.8M | Reduce -11.8% |
| FANG Diamondback Energy Inc. | 2.00% | 1,014,468 | $145.2M | Reduce -3.4% |
| EBAY eBay Inc. | 1.98% | 1,577,038 | $143.4M | Reduce -22.6% |
| WBD Warner Bros Discovery Inc. | 1.97% | 7,338,337 | $143.3M | Reduce -3.8% |
| KO The Coca-Cola Co. | 1.95% | 2,136,227 | $141.7M | Reduce -3.6% |
| TSN Tyson Foods Inc. Class A | 1.91% | 2,548,535 | $138.4M | Reduce -2.4% |
| EOG EOG Resources Inc. | 1.88% | 1,219,188 | $136.7M | Reduce -3.2% |
| KVUE Kenvue Inc. | 1.78% | 7,939,962 | $128.9M | Reduce -3.0% |
| LHX L3HARRIS Technologies Inc. | 1.75% | 416,780 | $127.3M | Reduce -19.8% |
| STT State Street Corp. | 1.68% | 1,051,860 | $122.0M | Reduce -13.0% |
| NOC Northrop Grumman Corp. | 1.66% | 197,840 | $120.5M | Reduce -10.9% |
| LMT Lockheed Martin Corp. | 1.49% | 216,881 | $108.3M | Reduce -2.6% |
| ELV Elevance Health Inc. | 1.49% | 334,373 | $108.0M | Reduce -2.0% |
| SYY Sysco Corp. | 1.42% | 1,252,756 | $103.2M | Reduce -5.0% |
| OLN Olin Corp. | 1.37% | 3,974,154 | $99.3M | Reduce -2.1% |
| FOXA Fox Corp. Class A | 1.32% | 1,520,292 | $95.9M | Reduce -7.1% |
| CL Colgate-Palmolive Co. | 0.87% | 793,900 | $63.5M | Reduce -1.1% |
| UNH Unitedhealth Group Inc. | 0.83% | 174,588 | $60.3M | Add +35.3% |
| DAR Darling Ingredients Inc. | 0.63% | 1,486,315 | $45.9M | Reduce -5.8% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.59% | 394,729 | $43.0M | Reduce -26.8% |
| CMCSA Comcast Corp. Class A | 0.51% | 1,169,000 | $36.7M | Reduce -6.0% |
| EMBC Embecta Corp. | 0.43% | 2,191,706 | $30.9M | Reduce -7.7% |
| CSCO Cisco Systems Inc. | 0.34% | 360,176 | $24.6M | Reduce -6.7% |
| UHAL U-Haul Holding Co. | 0.26% | 330,774 | $18.9M | Reduce -0.6% |
| DVN Devon Energy Corp. | 0.25% | 521,166 | $18.3M | Reduce -18.9% |
| MAS Masco Corp. | 0.25% | 252,995 | $17.8M | Reduce -2.0% |
| UL Unilever PLC | 0.19% | 235,669 | $14.0M | Reduce -1.6% |
| EAF Graftech International Ltd. | 0.19% | 1,068,938 | $13.7M | Reduce -1.3% |
| WFC Wells Fargo & Co. | 0.15% | 126,012 | $10.6M | Reduce -16.9% |
| CLX Clorox Company | 0.10% | 58,995 | $7.3M | Add +30.5% |
| MA Mastercard Inc. Class A | 0.09% | 11,670 | $6.6M | No change |
| MSCI MSCI Inc. | 0.09% | 10,900 | $6.2M | No change |
| MCO Moody's Corp. | 0.08% | 12,425 | $5.9M | No change |
| GS Goldman Sachs Group Inc. | 0.08% | 6,900 | $5.5M | Reduce -20.7% |
| AON Aon PLC Class A | 0.06% | 12,915 | $4.6M | No change |
| CRMT America's Car-Mart Inc. | 0.05% | 133,000 | $3.9M | Add +1109.1% |
| FICO Fair Isaac Corp. | 0.05% | 2,534 | $3.8M | New |
| MRSH Marsh & McLennan Cos | 0.05% | 17,345 | $3.5M | New |
| CPRT Copart Inc. | 0.05% | 75,195 | $3.4M | New |
| VRSK Verisk Analytics Inc. | 0.05% | 13,160 | $3.3M | New |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.04% | 4,467 | $3.0M | Add +27.5% |
| VZ Verizon Communications Inc. | 0.02% | 40,000 | $1.8M | Reduce -21.6% |
| LEGH Legacy Housing Corp. | 0.02% | 60,000 | $1.7M | No change |
| TDY Teledyne Technologies Inc. | 0.02% | 2,400 | $1.4M | Reduce -31.4% |
| NTRS Northern Trust Corp. | 0.02% | 9,500 | $1.3M | No change |
| AMPY Amplify Energy Corp. | 0.02% | 230,000 | $1.2M | Reduce -4.2% |
| PM Philip Morris International | 0.01% | 6,300 | $1.0M | Reduce -6.0% |
| CATO Cato Corp. Class A | 0.01% | 105,445 | $444K | No change |
| RDI Reading International Inc. Class A | 0.01% | 275,000 | $404K | Reduce -28.6% |
| NWS News Corp. Class B | 0.00% | 8,140 | $281K | No change |
| MO Altria Group Inc. | 0.00% | 4,200 | $277K | Reduce -14.3% |
| V Visa Inc. Class A | 0.00% | 732 | $250K | No change |
| GOLD Gold.com Inc. filed as A-MARK PRECIOUS METALS INC | 0.00% | 9,000 | $233K | New |
Portfolio Sells Q2 2025 → Q3 2025
| KVUE Kenvue Inc. | Reduce -3.0% | 1.78% | −0.53 |
| CTSH Cognizant Tech Solutions-A | Reduce -3.3% | 3.05% | −0.53 |
| INGR Ingredion Inc. | Reduce -8.6% | 2.43% | −0.45 |
| RS Reliance Inc. | Reduce -6.2% | 2.72% | −0.44 |
| ORCL Oracle Corp. | Sold out | 0.00% | −0.31 |
| UHAL.B U-Haul Holding Co.-Non Voting | Reduce -3.1% | 4.07% | −0.30 |
| ELV Elevance Health Inc. | Reduce -2.0% | 1.49% | −0.29 |
| DIS The Walt Disney Co. | Reduce -4.7% | 2.14% | −0.23 |
| PG The Procter & Gamble Co. | Reduce -3.8% | 4.11% | −0.21 |
| DAR Darling Ingredients Inc. | Reduce -5.8% | 0.63% | −0.17 |
| KO The Coca-Cola Co. | Reduce -3.6% | 1.95% | −0.15 |
| EOG EOG Resources Inc. | Reduce -3.2% | 1.88% | −0.14 |
| BRK.A Berkshire Hathaway Inc. Class A | Sold out | 0.00% | −0.13 |
| CNQ Canadian Natural Resources | Reduce -5.5% | 9.21% | −0.13 |
| CL Colgate-Palmolive Co. | Reduce -1.1% | 0.87% | −0.11 |
| NWSA News Corp. Class A | Reduce -8.6% | 3.14% | −0.10 |
| CMCSA Comcast Corp. Class A | Reduce -6.0% | 0.51% | −0.09 |
| BKNG Booking Holdings Inc. | Sold out | 0.00% | −0.09 |
| HSY The Hershey Co. | Sold out | 0.00% | −0.09 |
| SCHW Schwab (charles) Corp. | Reduce -8.1% | 5.52% | −0.08 |
| BNY Bank of New York Mellon Corp. | Reduce -26.8% | 0.59% | −0.07 |
| EBAY eBay Inc. | Reduce -22.6% | 1.98% | −0.06 |
| TSN Tyson Foods Inc. Class A | Reduce -2.4% | 1.91% | −0.06 |
| MSFT Microsoft Corp. | Reduce -7.0% | 7.34% | −0.05 |
| STT State Street Corp. | Reduce -13.0% | 1.68% | −0.05 |
| XOM Exxon Mobil Corp. | Sold out | 0.00% | −0.02 |
| DVN Devon Energy Corp. | Reduce -18.9% | 0.25% | −0.02 |
| CSCO Cisco Systems Inc. | Reduce -6.7% | 0.34% | −0.02 |
| WFC Wells Fargo & Co. | Reduce -16.9% | 0.15% | −0.02 |
| UHAL U-Haul Holding Co. | Reduce -0.6% | 0.26% | −0.01 |
| GS Goldman Sachs Group Inc. | Reduce -20.7% | 0.08% | −0.01 |
| VZ Verizon Communications Inc. | Reduce -21.6% | 0.02% | −0.01 |
| TDY Teledyne Technologies Inc. | Reduce -31.4% | 0.02% | −0.00 |
| UL Unilever PLC | Reduce -1.6% | 0.19% | −0.00 |
| PM Philip Morris International | Reduce -6.0% | 0.01% | −0.00 |
| RDI Reading International Inc. Class A | Reduce -28.6% | 0.01% | −0.00 |
| MO Altria Group Inc. | Reduce -14.3% | 0.00% | 0.00 |
| LHX L3HARRIS Technologies Inc. | Reduce -19.8% | 1.75% | +0.00 |
| AMPY Amplify Energy Corp. | Reduce -4.2% | 0.02% | +0.01 |
| MAS Masco Corp. | Reduce -2.0% | 0.25% | +0.02 |
| EAF Graftech International Ltd. | Reduce -1.3% | 0.19% | +0.05 |
| FANG Diamondback Energy Inc. | Reduce -3.4% | 2.00% | +0.06 |
| SYY Sysco Corp. | Reduce -5.0% | 1.42% | +0.08 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -2.0% | 2.22% | +0.09 |
| FOXA Fox Corp. Class A | Reduce -7.1% | 1.32% | +0.09 |
| LMT Lockheed Martin Corp. | Reduce -2.6% | 1.49% | +0.11 |
| COP Conocophillips | Reduce -2.4% | 2.07% | +0.11 |
| EMBC Embecta Corp. | Reduce -7.7% | 0.43% | +0.12 |
| NOC Northrop Grumman Corp. | Reduce -10.9% | 1.66% | +0.17 |
| AWI Armstrong World Industries | Reduce -11.8% | 2.05% | +0.17 |
Portfolio Buys Q2 2025 → Q3 2025
| UNH Unitedhealth Group Inc. | Add +35.3% | 0.83% | +0.29 |
| FICO Fair Isaac Corp. | New | 0.05% | +0.05 |
| MRSH Marsh & McLennan Cos | New | 0.05% | +0.05 |
| CPRT Copart Inc. | New | 0.05% | +0.05 |
| VRSK Verisk Analytics Inc. | New | 0.05% | +0.05 |
| CRMT America's Car-Mart Inc. | Add +1109.1% | 0.05% | +0.05 |
| CLX Clorox Company | Add +30.5% | 0.10% | +0.03 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +27.5% | 0.04% | +0.01 |
| GOLD Gold.com Inc. | New | 0.00% | +0.00 |
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 |