Yacktman Asset Management
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 3, 2026), Stephen Yacktman's Yacktman Asset Management reported 72 stock positions worth $7.1 billion. Its top holding was Canadian Natural Resources (CNQ) at 8.9% of the portfolio, followed by Microsoft (MSFT, 6.5%) and Schwab (charles) (SCHW, 5.5%). Compared with Q3 2025, it opened 2 new positions, added to 8 and reduced 50. The biggest buy was a new position in iShares MSCI South Korea ETF (EWY) and the biggest sale Warner Bros Discovery (WBD, shares −76%).
- Most Recent 13F
- Q2 2026
- Notable People
- Stephen Yacktman
- Location
- AUSTIN, TX
- CIK
- 0000905567
- Portfolio Value
- $7.1B (Q4 2025)
- SEC Filing
- 0000905567-26-000001 ↗ filed Feb 3, 2026
Holdings Value
Holdings 72 stocks · $7.1B
| CNQ Canadian Natural Resources | 8.90% | 18,775,420 | $635.5M | Reduce -10.2% |
| MSFT Microsoft Corp. | 6.52% | 963,825 | $466.1M | Reduce -6.2% |
| SCHW Schwab (charles) Corp. | 5.51% | 3,936,540 | $393.3M | Reduce -6.2% |
| FOX Fox Corp. Class B | 5.06% | 5,569,791 | $361.6M | Reduce -4.0% |
| GOOG Alphabet Inc. Class C | 4.96% | 1,129,807 | $354.5M | Reduce -3.1% |
| PEP Pepsico Inc. | 4.08% | 2,028,631 | $291.1M | Reduce -1.5% |
| PG The Procter & Gamble Co. | 3.85% | 1,918,353 | $274.9M | Reduce -1.2% |
| UHAL.B U-Haul Holding Co.-Non Voting | 3.79% | 5,787,394 | $270.5M | Reduce -0.3% |
| JNJ Johnson & Johnson | 3.63% | 1,252,646 | $259.2M | Reduce -2.7% |
| CTSH Cognizant Tech Solutions-A | 3.47% | 2,983,431 | $247.6M | Reduce -9.6% |
| RS Reliance Inc. | 2.80% | 691,626 | $199.8M | Reduce -1.5% |
| NWSA News Corp. Class A | 2.68% | 7,329,228 | $191.4M | Reduce -1.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.20% | 313,033 | $157.3M | Reduce -2.3% |
| INGR Ingredion Inc. | 2.20% | 1,423,654 | $157.0M | Reduce -1.3% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 2.12% | 1,333,916 | $151.8M | Reduce -1.8% |
| FANG Diamondback Energy Inc. | 2.10% | 996,619 | $149.8M | Reduce -1.8% |
| KO The Coca-Cola Co. | 2.06% | 2,108,644 | $147.4M | Reduce -1.3% |
| TSN Tyson Foods Inc. Class A | 2.04% | 2,489,380 | $145.9M | Reduce -2.3% |
| COP Conocophillips | 2.03% | 1,549,903 | $145.1M | Reduce -2.4% |
| AWI Armstrong World Industries | 1.98% | 741,742 | $141.7M | Reduce -2.3% |
| KVUE Kenvue Inc. | 1.90% | 7,857,496 | $135.5M | Reduce -1.0% |
| TLN Talen Energy Corp. | 1.89% | 360,000 | $134.9M | Reduce -0.0% |
| EBAY eBay Inc. | 1.87% | 1,532,330 | $133.5M | Reduce -2.8% |
| EOG EOG Resources Inc. | 1.74% | 1,187,019 | $124.6M | Reduce -2.6% |
| LHX L3HARRIS Technologies Inc. | 1.68% | 408,227 | $119.8M | Reduce -2.0% |
| STT State Street Corp. | 1.65% | 913,555 | $117.9M | Reduce -13.2% |
| ELV Elevance Health Inc. | 1.61% | 328,756 | $115.2M | Reduce -1.7% |
| EWY iShares MSCI South Korea ETF | 1.56% | 1,144,611 | $111.3M | New |
| NOC Northrop Grumman Corp. | 1.55% | 193,937 | $110.6M | Reduce -2.0% |
| LMT Lockheed Martin Corp. | 1.45% | 214,473 | $103.7M | Reduce -1.1% |
| SYY Sysco Corp. | 1.26% | 1,223,605 | $90.2M | Reduce -2.3% |
| FOXA Fox Corp. Class A | 1.23% | 1,202,063 | $87.8M | Reduce -20.9% |
| OLN Olin Corp. | 1.14% | 3,922,318 | $81.7M | Reduce -1.3% |
| CL Colgate-Palmolive Co. | 0.87% | 787,300 | $62.2M | Reduce -0.8% |
| UNH Unitedhealth Group Inc. | 0.77% | 167,550 | $55.3M | Reduce -4.0% |
| WBD Warner Bros Discovery Inc. | 0.72% | 1,782,860 | $51.4M | Reduce -75.7% |
| DAR Darling Ingredients Inc. | 0.70% | 1,389,217 | $50.0M | Reduce -6.5% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.59% | 365,736 | $42.5M | Reduce -7.3% |
| CMCSA Comcast Corp. Class A | 0.49% | 1,161,500 | $34.7M | Reduce -0.6% |
| EMBC Embecta Corp. | 0.38% | 2,262,915 | $26.9M | Add +3.3% |
| CSCO Cisco Systems Inc. | 0.37% | 340,638 | $26.2M | Reduce -5.4% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.31% | 32,091 | $21.9M | Add +618.4% |
| UHAL U-Haul Holding Co. | 0.23% | 327,276 | $16.5M | Reduce -1.1% |
| DVN Devon Energy Corp. | 0.22% | 432,311 | $15.8M | Reduce -17.1% |
| EAF Graftech International Ltd. | 0.22% | 998,475 | $15.5M | Reduce -6.6% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.21% | 167,893 | $15.3M | New |
| MAS Masco Corp. | 0.21% | 233,847 | $14.8M | Reduce -7.6% |
| UL Unilever PLC-Sponsored ADR | 0.18% | 195,803 | $12.8M | Reduce -6.5% |
| WFC Wells Fargo & Co. | 0.13% | 102,319 | $9.5M | Reduce -18.8% |
| MA Mastercard Inc. Class A | 0.09% | 11,670 | $6.7M | No change |
| MCO Moody's Corp. | 0.09% | 12,425 | $6.3M | No change |
| MSCI MSCI Inc. | 0.09% | 10,900 | $6.3M | No change |
| CLX Clorox Company | 0.07% | 48,095 | $4.8M | Reduce -18.5% |
| FICO Fair Isaac Corp. | 0.06% | 2,744 | $4.6M | Add +8.3% |
| AON Aon PLC Class A | 0.06% | 12,915 | $4.6M | No change |
| GS Goldman Sachs Group Inc. | 0.06% | 4,985 | $4.4M | Reduce -27.8% |
| CPRT Copart Inc. | 0.05% | 100,170 | $3.9M | Add +33.2% |
| CRMT America's Car-Mart Inc. | 0.05% | 155,000 | $3.9M | Add +16.5% |
| MRSH Marsh & McLennan Cos | 0.05% | 19,280 | $3.6M | Add +11.2% |
| VRSK Verisk Analytics Inc. | 0.05% | 15,460 | $3.5M | Add +17.5% |
| LEGH Legacy Housing Corp. | 0.05% | 175,675 | $3.4M | Add +192.8% |
| VZ Verizon Communications Inc. | 0.02% | 40,000 | $1.6M | No change |
| NTRS Northern Trust Corp. | 0.02% | 9,500 | $1.3M | No change |
| TDY Teledyne Technologies Inc. | 0.01% | 2,100 | $1.1M | Reduce -12.5% |
| AMPY Amplify Energy Corp. | 0.01% | 230,000 | $1.1M | No change |
| PM Philip Morris International | 0.01% | 6,300 | $1.0M | No change |
| CATO Cato Corp. Class A | 0.00% | 105,445 | $326K | No change |
| RDI Reading International Inc. Class A | 0.00% | 265,000 | $278K | Reduce -3.6% |
| V Visa Inc. Class A | 0.00% | 732 | $257K | No change |
| MO Altria Group Inc. | 0.00% | 4,200 | $242K | No change |
| NWS News Corp. Class B | 0.00% | 8,140 | $241K | No change |
| GOLD Gold.com Inc. | 0.00% | 7,000 | $238K | Reduce -22.2% |
Portfolio Sells Q3 2025 → Q4 2025
| WBD Warner Bros Discovery Inc. | Reduce -75.7% | 0.72% | −1.26 |
| MSFT Microsoft Corp. | Reduce -6.2% | 6.52% | −0.81 |
| NWSA News Corp. Class A | Reduce -1.3% | 2.68% | −0.46 |
| CNQ Canadian Natural Resources | Reduce -10.2% | 8.90% | −0.31 |
| UHAL.B U-Haul Holding Co.-Non Voting | Reduce -0.3% | 3.79% | −0.28 |
| PG The Procter & Gamble Co. | Reduce -1.2% | 3.85% | −0.26 |
| INGR Ingredion Inc. | Reduce -1.3% | 2.20% | −0.23 |
| OLN Olin Corp. | Reduce -1.3% | 1.14% | −0.22 |
| TLN Talen Energy Corp. | Reduce -0.0% | 1.89% | −0.22 |
| SYY Sysco Corp. | Reduce -2.3% | 1.26% | −0.16 |
| EOG EOG Resources Inc. | Reduce -2.6% | 1.74% | −0.14 |
| NOC Northrop Grumman Corp. | Reduce -2.0% | 1.55% | −0.11 |
| EBAY eBay Inc. | Reduce -2.8% | 1.87% | −0.11 |
| FOXA Fox Corp. Class A | Reduce -20.9% | 1.23% | −0.09 |
| LHX L3HARRIS Technologies Inc. | Reduce -2.0% | 1.68% | −0.08 |
| AWI Armstrong World Industries | Reduce -2.3% | 1.98% | −0.07 |
| UNH Unitedhealth Group Inc. | Reduce -4.0% | 0.77% | −0.06 |
| LMT Lockheed Martin Corp. | Reduce -1.1% | 1.45% | −0.04 |
| COP Conocophillips | Reduce -2.4% | 2.03% | −0.04 |
| MAS Masco Corp. | Reduce -7.6% | 0.21% | −0.04 |
| CLX Clorox Company | Reduce -18.5% | 0.07% | −0.03 |
| STT State Street Corp. | Reduce -13.2% | 1.65% | −0.03 |
| DVN Devon Energy Corp. | Reduce -17.1% | 0.22% | −0.03 |
| UHAL U-Haul Holding Co. | Reduce -1.1% | 0.23% | −0.03 |
| CMCSA Comcast Corp. Class A | Reduce -0.6% | 0.49% | −0.02 |
| DIS The Walt Disney Co. | Reduce -1.8% | 2.12% | −0.02 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -2.3% | 2.20% | −0.02 |
| GS Goldman Sachs Group Inc. | Reduce -27.8% | 0.06% | −0.01 |
| UL Unilever PLC-Sponsored ADR | Reduce -6.5% | 0.18% | −0.01 |
| SCHW Schwab (charles) Corp. | Reduce -6.2% | 5.51% | −0.01 |
| WFC Wells Fargo & Co. | Reduce -18.8% | 0.13% | −0.01 |
| TDY Teledyne Technologies Inc. | Reduce -12.5% | 0.01% | −0.00 |
| CL Colgate-Palmolive Co. | Reduce -0.8% | 0.87% | −0.00 |
| RDI Reading International Inc. Class A | Reduce -3.6% | 0.00% | −0.00 |
| GOLD Gold.com Inc. | Reduce -22.2% | 0.00% | +0.00 |
| BNY Bank of New York Mellon Corp. | Reduce -7.3% | 0.59% | +0.00 |
| CSCO Cisco Systems Inc. | Reduce -5.4% | 0.37% | +0.03 |
| EAF Graftech International Ltd. | Reduce -6.6% | 0.22% | +0.03 |
| DAR Darling Ingredients Inc. | Reduce -6.5% | 0.70% | +0.07 |
| RS Reliance Inc. | Reduce -1.5% | 2.80% | +0.08 |
| PEP Pepsico Inc. | Reduce -1.5% | 4.08% | +0.09 |
| FANG Diamondback Energy Inc. | Reduce -1.8% | 2.10% | +0.10 |
| KO The Coca-Cola Co. | Reduce -1.3% | 2.06% | +0.11 |
| KVUE Kenvue Inc. | Reduce -1.0% | 1.90% | +0.12 |
| ELV Elevance Health Inc. | Reduce -1.7% | 1.61% | +0.12 |
| TSN Tyson Foods Inc. Class A | Reduce -2.3% | 2.04% | +0.14 |
| JNJ Johnson & Johnson | Reduce -2.7% | 3.63% | +0.34 |
| CTSH Cognizant Tech Solutions-A | Reduce -9.6% | 3.47% | +0.42 |
| FOX Fox Corp. Class B | Reduce -4.0% | 5.06% | +0.49 |
| GOOG Alphabet Inc. Class C | Reduce -3.1% | 4.96% | +1.05 |
Portfolio Buys Q3 2025 → Q4 2025
| EWY iShares MSCI South Korea ETF | New | 1.56% | +1.56 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +618.4% | 0.31% | +0.27 |
| BIL SS SPDR BB 1-3M T-Bill ETF | New | 0.21% | +0.21 |
| LEGH Legacy Housing Corp. | Add +192.8% | 0.05% | +0.03 |
| FICO Fair Isaac Corp. | Add +8.3% | 0.06% | +0.01 |
| CPRT Copart Inc. | Add +33.2% | 0.05% | +0.01 |
| VRSK Verisk Analytics Inc. | Add +17.5% | 0.05% | +0.00 |
| MRSH Marsh & McLennan Cos | Add +11.2% | 0.05% | +0.00 |
| CRMT America's Car-Mart Inc. | Add +16.5% | 0.05% | +0.00 |
| EMBC Embecta Corp. | Add +3.3% | 0.38% | −0.05 |
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 |