Yacktman Asset Management
Yacktman Asset Management
Yacktman Asset Management (Yacktman Asset Management) discloses a $7.50B portfolio across 76 US-listed positions in the latest 13F filing (2026Q1, filed May 1, 2026). The largest holding is CNQ at 10.7% of the book. The biggest move of the quarter: opened a new position in PYPL ($104M). Latticework's clone backtest puts this 13F book at -1.3%/yr vs SPY over 12.0 years.
About Yacktman Asset Management
Yacktman Asset Management, founded by Donald Yacktman and now run alongside his son Stephen, built its reputation on patient, concentrated ownership of durable-franchise businesses purchased at a discount to intrinsic value — a style sometimes described as "forward rate of return" investing, where the team explicitly ranks holdings by expected return given current price. The firm became widely noted for its willingness to hold cash when opportunities are scarce and to concentrate aggressively when they are not; historically, consumer staples and media names like PepsiCo and News Corp anchored the book for years. Today's 13F reflects a somewhat more diversified posture — 76 positions, top-5 at roughly 29%, with CNQ as the largest disclosed holding — suggesting either a more cautious deployment environment or style drift worth monitoring. The portfolio is long-only equities, so the 13F captures the book with reasonable fidelity; no material derivatives or short overlay is part of the public strategy. The clone backtest showing modest negative excess returns over twelve years is consistent with a quality-value tilt that has faced persistent headwinds against a momentum-driven, growth-led market.
2026Q1 brief
Yacktman's $7.5B value-and-quality portfolio made few dramatic moves in 2026Q1, consistent with its characteristically low-turnover style, but a handful of signals stand out. CNQ remains a commanding top holding at 10.75% — an unusually large energy anchor for a manager known for consumer staples and tech quality. Five new positions were initiated, led by PYPL (1.38%), which is the most meaningful: a contrarian buy into a beaten-down fintech franchise that fits Yacktman's 'good business at a fair price' doctrine. LEGH was added aggressively (+301.7%, though tiny at 0.19%), and FICO doubled (+124.4%), suggesting selective opportunism in smaller names. The near-wipeout of SPY (-88.3% to 0.03%) removes a passive hedge overlay, while trimming CSCO (-38.2%) reduces legacy tech. The exit of WBD (previously 0.72%) closes out a media speculation. The portfolio's 76-name breadth keeps top-5 concentration at a modest 29.1%, consistent with Yacktman's diversified-quality approach. Watch whether PYPL gets sized up materially next quarter — it would confirm a genuine fintech recovery thesis rather than a tentative toe-dip.
AI-generated. Not investment advice.
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Holdings (76) · click any column to sort
| #↑ | Ticker | Issuer | % Port. | This Q | History | Value |
|---|---|---|---|---|---|---|
| 1 | CNQ | 10.7% | $806M | |||
| 2 | MSFT | 4.9% | $368M | |||
| 3 | SCHW | 4.9% | $367M | |||
| 4 | GOOG | 4.3% | $323M | |||
| 5 | PEP | 4.2% | $315M | |||
| 6 | JNJ | 4.1% | $305M | |||
| 7 | FOX | 3.9% | $296M | |||
| 8 | PG | 3.7% | $279M | |||
| 9 | UHAL/B | 3.6% | $270M | |||
| 10 | RS | 2.8% | $211M | |||
| 11 | COP | 2.8% | $209M | |||
| 12 | FANG | 2.6% | $199M | |||
| 13 | CTSH | 2.5% | $185M | |||
| 14 | NWSA | 2.5% | $184M | |||
| 15 | EOG | 2.4% | $177M | |||
| 16 | INGR | 2.2% | $162M | |||
| 17 | TSN | 2.1% | $161M | |||
| 18 | KO | 2.1% | $160M | |||
| 19 | BRK/B | 2.0% | $151M | |||
| 20 | LHX | 1.9% | $141M | |||
| 21 | EBAY | 1.9% | $139M | |||
| 22 | KVUE | 1.8% | $137M | |||
| 23 | NOC | 1.8% | $132M | |||
| 24 | DIS | 1.7% | $130M | |||
| 25 | LMT | 1.7% | $129M | |||
| 26 | AWI | 1.6% | $122M | |||
| 27 | OLN | 1.6% | $122M | |||
| 28 | EWY | 1.6% | $121M | |||
| 29 | STT | 1.5% | $115M | |||
| 30 | TLN | 1.5% | $115M | |||
| 31 | PYPL | 1.4% | $104M | |||
| 32 | ELV | 1.3% | $98M | |||
| 33 | SYY | 1.2% | $88M | |||
| 34 | DAR | 1.2% | $87M | |||
| 35 | FOXA | 0.9% | $69M | |||
| 36 | CL | 0.9% | $67M | |||
| 37 | FDS | 0.7% | $49M | |||
| 38 | UNH | 0.6% | $46M | |||
| 39 | BK | 0.6% | $42M | |||
| 40 | AVTR | 0.5% | $37M | |||
| 41 | CMCSA | 0.4% | $34M | |||
| 42 | EMBC | 0.4% | $32M | |||
| 43 | BRBR | 0.3% | $24M | |||
| 44 | DVN | 0.3% | $23M | |||
| 45 | BIL | 0.3% | $19M | |||
| 46 | CSCO | 0.2% | $16M | |||
| 47 | UHAL | 0.2% | $16M | |||
| 48 | MAS | 0.2% | $15M | |||
| 49 | LEGH | 0.2% | $14M | |||
| 50 | UL | 0.2% | $11M | |||
| 51 | WFC | 0.1% | $8M | |||
| 52 | EAF | 0.1% | $7M | |||
| 53 | FICO | 0.1% | $7M | |||
| 54 | MSCI | 0.1% | $6M | |||
| 55 | MA | 0.1% | $6M | |||
| 56 | MCO | 0.1% | $5M | |||
| 57 | CLX | 0.1% | $5M | |||
| 58 | GS | 0.1% | $4M | |||
| 59 | AON | 0.1% | $4M | |||
| 60 | CPRT | <0.1% | $4M | |||
| 61 | MRSH | <0.1% | $3M | |||
| 62 | INTU | <0.1% | $3M | |||
| 63 | VRSK | <0.1% | $3M | |||
| 64 | CRMT | <0.1% | $2M | |||
| 65 | SPY | <0.1% | $2M | |||
| 66 | TDY | <0.1% | $2M | |||
| 67 | NTRS | <0.1% | $1M | |||
| 68 | AMPY | <0.1% | $1M | |||
| 69 | VZ | <0.1% | $1M | |||
| 70 | PM | <0.1% | $976K | |||
| 71 | RDI | <0.1% | $299K | |||
| 72 | CATO | <0.1% | $298K | |||
| 73 | MO | <0.1% | $277K | |||
| 74 | NWS | <0.1% | $232K | |||
| 75 | V | <0.1% | $221K | |||
| 76 | GOLD | <0.1% | $200K |
- 1CNQport10.7%val$806MCanadian Natural Resourcesthis Q hold·21q
- 2MSFTport4.9%val$368MMicrosoft Corpthis Q hold·40q
- 3SCHWport4.9%val$367MSchwab (charles) Corpthis Q hold·28q
- 4GOOGport4.3%val$323MAlphabet Inc-cl Cthis Q hold·29q
- 5PEPport4.2%val$315MPepsico Incthis Q hold·40q
- 6JNJport4.1%val$305MJohnson & Johnsonthis Q hold·40q
- 7FOXport3.9%val$296MFox Corp - Class Bthis Q hold·29q
- 8PGport3.7%val$279MProcter & Gamble Co/thethis Q hold·40q
- port3.6%val$270MU-haul Holding Co-non Votingthis Q hold·14q
- 10RSport2.8%val$211MReliance Incthis Q hold·18q
- 11COPport2.8%val$209MConocophillipsthis Q hold·40q
- 12FANGport2.6%val$199MDiamondback Energy Incthis Q hold·15q
- 13CTSHport2.5%val$185MCognizant Tech Solutions-athis Q hold·36q
- 14NWSAport2.5%val$184MNews Corp - Class Athis Q hold·28q
- 15EOGport2.4%val$177MEog Resources Incthis Q hold·15q
- 16INGRport2.2%val$162MIngredion Incthis Q hold·24q
- 17TSNport2.1%val$161MTyson Foods Inc-cl Athis Q hold·22q
- 18KOport2.1%val$160MCoca-cola Co/thethis Q hold·40q
- 19BRK/Bport2.0%val$151MBerkshire Hathaway Inc-cl Bthis Q hold·40q
- 20LHXport1.9%val$141ML3harris Technologies Incthis Q hold·21q
- 21EBAYport1.9%val$139MEbay Incthis Q hold·17q
- 22KVUEport1.8%val$137MKenvue Incthis Q hold·11q
- 23NOCport1.8%val$132MNorthrop Grumman Corpthis Q hold·21q
- 24DISport1.7%val$130MWalt Disney Co/thethis Q hold·29q
- 25LMTport1.7%val$129MLockheed Martin Corpthis Q hold·21q
- 26AWIport1.6%val$122MArmstrong World Industriesthis Q hold·21q
- 27OLNport1.6%val$122MOlin Corpthis Q hold·12q
- 28EWYport1.6%val$121MIshares Msci South Korea Etfthis Q hold·3q
- 29STTport1.5%val$115MState Street Corpthis Q hold·40q
- 30TLNport1.5%val$115MTalen Energy Corpthis Q hold·7q
- 31PYPLport1.4%val$104MPaypal Holdings Incthis Q New·—1q
- 32ELVport1.3%val$98MElevance Health Incthis Q hold·40q
- 33SYYport1.2%val$88MSysco Corpthis Q hold·40q
- 34DARport1.2%val$87MDarling Ingredients Incthis Q hold·9q
- 35FOXAport0.9%val$69MFox Corp - Class Athis Q hold·29q
- 36CLport0.9%val$67MColgate-palmolive COthis Q hold·40q
- 37FDSport0.7%val$49MFactset Research Systems Incthis Q New·—1q
- 38UNHport0.6%val$46MUnitedhealth Group Incthis Q hold·4q
- 39BKport0.6%val$42MBank OF New York Mellon Corpthis Q hold·40q
- 40AVTRport0.5%val$37MAvantor Incthis Q New·—1q
- 41CMCSAport0.4%val$34MComcast Corp-class Athis Q hold·40q
- 42EMBCport0.4%val$32MEmbecta Corpthis Q +62%·16q
- 43BRBRport0.3%val$24MBellring Brands Incthis Q New·—1q
- 44DVNport0.3%val$23MDevon Energy Corpthis Q hold·15q
- 45BILport0.3%val$19MSS Spdr BB 1-3m T-bill Etfthis Q +26%·2q
- 46CSCOport0.2%val$16MCisco Systems Incthis Q -38%·40q
- 47UHALport0.2%val$16MU-haul Holding COthis Q hold·33q
- 48MASport0.2%val$15MMasco Corpthis Q hold·11q
- 49LEGHport0.2%val$14MLegacy Housing Corpthis Q +302%·24q
- 50ULport0.2%val$11MUnilever Plc-sponsored Adrthis Q hold·2q
- 51WFCport0.1%val$8MWells Fargo & COthis Q hold·40q
- 52EAFport0.1%val$7MGraftech International Ltdthis Q hold·3q
- 53FICOport0.1%val$7MFair Isaac Corpthis Q +124%·3q
- 54MSCIport0.1%val$6MMsci Incthis Q hold·8q
- 55MAport0.1%val$6MMastercard Inc - Athis Q hold·25q
- 56MCOport0.1%val$5MMoody's Corpthis Q hold·16q
- 57CLXport0.1%val$5MClorox Companythis Q hold·40q
- 58GSport0.1%val$4MGoldman Sachs Group Incthis Q hold·40q
- 59AONport0.1%val$4MAon Plc Class Athis Q hold·9q
- 60CPRTport<0.1%val$4MCopart Incthis Q hold·3q
- 61MRSHport<0.1%val$3MMarsh & Mclennan Costhis Q hold·3q
- 62INTUport<0.1%val$3MIntuit Incthis Q New·—1q
- 63VRSKport<0.1%val$3MVerisk Analytics Incthis Q hold·3q
- 64CRMTport<0.1%val$2MAmerica's Car-mart Incthis Q +26%·31q
- 65SPYport<0.1%val$2MSS Spdr S&p 500 Etf Trust-usthis Q -88%·32q
- 66TDYport<0.1%val$2MTeledyne Technologies Incthis Q hold·9q
- 67NTRSport<0.1%val$1MNorthern Trust Corpthis Q hold·11q
- 68AMPYport<0.1%val$1MAmplify Energy Corpthis Q hold·21q
- 69VZport<0.1%val$1MVerizon Communications Incthis Q -50%·11q
- 70PMport<0.1%val$976KPhilip Morris Internationalthis Q hold·40q
- 71RDIport<0.1%val$299KReading International Inc-athis Q hold·39q
- 72CATOport<0.1%val$298KCato Corp-class Athis Q hold·21q
- 73MOport<0.1%val$277KAltria Group Incthis Q hold·40q
- 74NWSport<0.1%val$232KNews Corp - Class Bthis Q hold·25q
- 75Vport<0.1%val$221KVisa Inc-class A Sharesthis Q hold·8q
- 76GOLDport<0.1%val$200KGold.com Incthis Q -29%·10q
All activity (2026Q1)
| Ticker | Issuer | Move | % Port. | Δ Shares | Value |
|---|---|---|---|---|---|
| PYPL | Paypal Holdings Inc | NEW | 1.4% | +100% | $104M |
| WBD | Warner Bros Discovery Inc | EXIT | 0.7% | -100% | $0 |
| FDS | Factset Research Systems Inc | NEW | 0.7% | +100% | $49M |
| AVTR | Avantor Inc | NEW | 0.5% | +100% | $37M |
| EMBC | Embecta Corp | ADD | 0.4% | +62% | $32M |
| CSCO | Cisco Systems Inc | TRIM | 0.2% | -38% | $16M |
| BRBR | Bellring Brands Inc | NEW | 0.3% | +100% | $24M |
| SPY | SS Spdr S&p 500 Etf Trust-us | TRIM | <0.1% | -88% | $2M |
| BIL | SS Spdr BB 1-3m T-bill Etf | ADD | 0.3% | +26% | $19M |
| LEGH | Legacy Housing Corp | ADD | 0.2% | +302% | $14M |
| FICO | Fair Isaac Corp | ADD | 0.1% | +124% | $7M |
| CRMT | America's Car-mart Inc | ADD | <0.1% | +26% | $2M |
| INTU | Intuit Inc | NEW | <0.1% | +100% | $3M |
| VZ | Verizon Communications Inc | TRIM | <0.1% | -50% | $1M |
| GOLD | Gold.com Inc | TRIM | <0.1% | -29% | $200K |
- NEWPYPL1.4%Paypal Holdings IncΔ +100%·$104M
- EXITWBD0.7%Warner Bros Discovery IncΔ -100%·$0
- NEWFDS0.7%Factset Research Systems IncΔ +100%·$49M
- NEWAVTR0.5%Avantor IncΔ +100%·$37M
- ADDEMBC0.4%Embecta CorpΔ +62%·$32M
- TRIMCSCO0.2%Cisco Systems IncΔ -38%·$16M
- NEWBRBR0.3%Bellring Brands IncΔ +100%·$24M
- TRIMSPY<0.1%SS Spdr S&p 500 Etf Trust-usΔ -88%·$2M
- ADDBIL0.3%SS Spdr BB 1-3m T-bill EtfΔ +26%·$19M
- ADDLEGH0.2%Legacy Housing CorpΔ +302%·$14M
- ADDFICO0.1%Fair Isaac CorpΔ +124%·$7M
- ADDCRMT<0.1%America's Car-mart IncΔ +26%·$2M
- NEWINTU<0.1%Intuit IncΔ +100%·$3M
- TRIMVZ<0.1%Verizon Communications IncΔ -50%·$1M
- TRIMGOLD<0.1%Gold.com IncΔ -29%·$200K
Frequently asked questions
- What stocks does Yacktman Asset Management own?
- As of 2026Q1, Yacktman Asset Management's 13F discloses 76 positions worth $7.50B. The top five holdings: CNQ (10.7%), MSFT (4.9%), SCHW (4.9%), GOOG (4.3%), PEP (4.2%). 13F filings cover long US-listed equities only — cash, bonds, shorts, and non-US positions are not disclosed.
- What did Yacktman Asset Management buy this quarter?
- In 2026Q1, the filing shows 5 new positions and 5 additions to existing holdings. The largest positions touched by buying: PYPL, FDS, AVTR, EMBC, BRBR.
- How big is Yacktman Asset Management's portfolio?
- $7.50B across 76 positions per the latest 13F (filed May 1, 2026). The top five holdings account for 29% of the disclosed book.
Explore more
Long US equity 13F-HR filings only — no shorts, no derivatives. SEC filings at EDGAR (CIK 0000905567). Not investment advice.