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Yacktman Asset Management
Yacktman Asset Management
2026Q1 · filed May 1, 202676 positions · $7.50Btop-5 29%
2026Q1 brief
Yacktman's $7.5B value-and-quality portfolio held its characteristic defensive posture, with CNQ (Canadian Natural Resources) an outsized 10.75% top position anchoring the book in energy. The most meaningful new addition is PYPL (PayPal) at 1.38% — a contrarian value bet on a misunderstood fintech franchise, consistent with Yacktman's history of buying out-of-favor large-caps with strong cash generation. Other new names — FDS (FactSet, 0.65%), AVTR (Avantor, 0.50%), and BRBR (BellRing Brands, 0.32%) — are small but diverse, spanning data services, life sciences, and consumer nutrition. The aggressive LEGH (Legacy Housing) add of 302% to 0.19% is a micro-cap manufactured-housing bet that stands out as unusually speculative for this shop. The near-complete liquidation of SPY (-88% to 0.03%) removes the passive hedge entirely, suggesting Yacktman sees better relative value in individual names. Exits are minimal — WBD (0.72%) the only notable departure. The portfolio remains highly defensive: MSFT, SCHW, GOOG, PEP, JNJ, and PG dominate. Watch whether PYPL builds meaningfully — it would be the firmest signal yet of a fintech value thesis taking root.
AI-generated. Not investment advice.
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 |
Sort↑
- 1CNQ10.7%$806MCanadian Natural Resourcesthis Q hold·21q
- 2MSFT4.9%$368MMicrosoft Corpthis Q hold·40q
- 3SCHW4.9%$367MSchwab (charles) Corpthis Q hold·28q
- 4GOOG4.3%$323MAlphabet Inc-cl Cthis Q hold·29q
- 5PEP4.2%$315MPepsico Incthis Q hold·40q
- 6JNJ4.1%$305MJohnson & Johnsonthis Q hold·40q
- 7FOX3.9%$296MFox Corp - Class Bthis Q hold·29q
- 8PG3.7%$279MProcter & Gamble Co/thethis Q hold·40q
- 9UHAL/B3.6%$270MU-haul Holding Co-non Votingthis Q hold·14q
- 10RS2.8%$211MReliance Incthis Q hold·18q
- 11COP2.8%$209MConocophillipsthis Q hold·40q
- 12FANG2.6%$199MDiamondback Energy Incthis Q hold·15q
- 13CTSH2.5%$185MCognizant Tech Solutions-athis Q hold·36q
- 14NWSA2.5%$184MNews Corp - Class Athis Q hold·28q
- 15EOG2.4%$177MEog Resources Incthis Q hold·15q
- 16INGR2.2%$162MIngredion Incthis Q hold·24q
- 17TSN2.1%$161MTyson Foods Inc-cl Athis Q hold·22q
- 18KO2.1%$160MCoca-cola Co/thethis Q hold·40q
- 19BRK/B2.0%$151MBerkshire Hathaway Inc-cl Bthis Q hold·40q
- 20LHX1.9%$141ML3harris Technologies Incthis Q hold·21q
- 21EBAY1.9%$139MEbay Incthis Q hold·17q
- 22KVUE1.8%$137MKenvue Incthis Q hold·11q
- 23NOC1.8%$132MNorthrop Grumman Corpthis Q hold·21q
- 24DIS1.7%$130MWalt Disney Co/thethis Q hold·29q
- 25LMT1.7%$129MLockheed Martin Corpthis Q hold·21q
- 26AWI1.6%$122MArmstrong World Industriesthis Q hold·21q
- 27OLN1.6%$122MOlin Corpthis Q hold·12q
- 28EWY1.6%$121MIshares Msci South Korea Etfthis Q hold·3q
- 29STT1.5%$115MState Street Corpthis Q hold·40q
- 30TLN1.5%$115MTalen Energy Corpthis Q hold·7q
- 31PYPL1.4%$104MPaypal Holdings Incthis Q New·—1q
- 32ELV1.3%$98MElevance Health Incthis Q hold·40q
- 33SYY1.2%$88MSysco Corpthis Q hold·40q
- 34DAR1.2%$87MDarling Ingredients Incthis Q hold·9q
- 35FOXA0.9%$69MFox Corp - Class Athis Q hold·29q
- 36CL0.9%$67MColgate-palmolive COthis Q hold·40q
- 37FDS0.7%$49MFactset Research Systems Incthis Q New·—1q
- 38UNH0.6%$46MUnitedhealth Group Incthis Q hold·4q
- 39BK0.6%$42MBank OF New York Mellon Corpthis Q hold·40q
- 40AVTR0.5%$37MAvantor Incthis Q New·—1q
- 41CMCSA0.4%$34MComcast Corp-class Athis Q hold·40q
- 42EMBC0.4%$32MEmbecta Corpthis Q +62%·16q
- 43BRBR0.3%$24MBellring Brands Incthis Q New·—1q
- 44DVN0.3%$23MDevon Energy Corpthis Q hold·15q
- 45BIL0.3%$19MSS Spdr BB 1-3m T-bill Etfthis Q +26%·2q
- 46CSCO0.2%$16MCisco Systems Incthis Q -38%·40q
- 47UHAL0.2%$16MU-haul Holding COthis Q hold·33q
- 48MAS0.2%$15MMasco Corpthis Q hold·11q
- 49LEGH0.2%$14MLegacy Housing Corpthis Q +302%·24q
- 50UL0.2%$11MUnilever Plc-sponsored Adrthis Q hold·2q
- 51WFC0.1%$8MWells Fargo & COthis Q hold·40q
- 52EAF0.1%$7MGraftech International Ltdthis Q hold·3q
- 53FICO0.1%$7MFair Isaac Corpthis Q +124%·3q
- 54MSCI0.1%$6MMsci Incthis Q hold·8q
- 55MA0.1%$6MMastercard Inc - Athis Q hold·25q
- 56MCO0.1%$5MMoody's Corpthis Q hold·16q
- 57CLX0.1%$5MClorox Companythis Q hold·40q
- 58GS0.1%$4MGoldman Sachs Group Incthis Q hold·40q
- 59AON0.1%$4MAon Plc Class Athis Q hold·9q
- 60CPRT<0.1%$4MCopart Incthis Q hold·3q
- 61MRSH<0.1%$3MMarsh & Mclennan Costhis Q hold·3q
- 62INTU<0.1%$3MIntuit Incthis Q New·—1q
- 63VRSK<0.1%$3MVerisk Analytics Incthis Q hold·3q
- 64CRMT<0.1%$2MAmerica's Car-mart Incthis Q +26%·31q
- 65SPY<0.1%$2MSS Spdr S&p 500 Etf Trust-usthis Q -88%·32q
- 66TDY<0.1%$2MTeledyne Technologies Incthis Q hold·9q
- 67NTRS<0.1%$1MNorthern Trust Corpthis Q hold·11q
- 68AMPY<0.1%$1MAmplify Energy Corpthis Q hold·21q
- 69VZ<0.1%$1MVerizon Communications Incthis Q -50%·11q
- 70PM<0.1%$976KPhilip Morris Internationalthis Q hold·40q
- 71RDI<0.1%$299KReading International Inc-athis Q hold·39q
- 72CATO<0.1%$298KCato Corp-class Athis Q hold·21q
- 73MO<0.1%$277KAltria Group Incthis Q hold·40q
- 74NWS<0.1%$232KNews Corp - Class Bthis Q hold·25q
- 75V<0.1%$221KVisa Inc-class A Sharesthis Q hold·8q
- 76GOLD<0.1%$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
Long US equity 13F-HR filings only — no shorts, no derivatives. SEC filings at EDGAR (CIK 0000905567). Not investment advice.