Donald Yacktman who added a position in Dell Inc. (NASDAQ:DELL) in Q4 2012, sold some 27k shares in Q1 2013, according to the latest 13f filing of Yacktman Asset Management. Yacktman has been actively opposing Dell’s buyout offer that was put up by Silver Lake even after The Blackstone Group L.P. (NYSE:BX) had withdrawn its bid to buy Dell Inc. (NASDAQ:DELL). Yacktman wants Michael Dell to be a part of whatever course the company chooses but he believes that the standing offer from Silver Lake is not in the interest of shareholders.
Top Five Yacktman Holdings
As of March 28, Yacktman Asset Management’s top five long positions are in, News Corp (NASDAQ:NWSA) (NASDAQ:NWS) with 75.7 million shares, The Procter & Gamble Company (NYSE:PG) at 26 million shares, PepsiCo, Inc. (NYSE:PEP) with 23 million shares, Microsoft Corporation (NASDAQ:MSFT) with 41.34 million shares and Cisco Systems, Inc. (NASDAQ:CSCO) with a position in 52.4 million shares.
Yacktman’s portfolio value rose to $19.5 billion in the last quarter, up from $16.6 billion in Q4, however the fund did not make any new purchases except for buying 1.24 million shares of Sigma-Aldrich Corporation (NASDAQ:SIAL). Yacktman made minor additions to several previous holdings, however significant additions were made to the stakes in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW). Yacktman Asset Management bought 3.4 million shares in Q1, taking its total holding to 3.9 million shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW). The logistics company that provides freight solutions is a major short position of Karsch Capital, and is one that Karsch probably gained from in last quarter.
The fund also added more to Microsoft Corporation (NASDAQ:MSFT) and The Coca-Cola Company (NYSE:KO), both holdings are among Yacktman’s top ten long positions. The fund’s stake in Microsoft Corporation (NASDAQ:MSFT), now exceeds 41.34 million shares which are worth $1.1.8 billion.
Sells of BBRY, BRK
Yacktman Asset Management cut stakes in Research In Motion Ltd (NASDAQ:BBRY) (TSE:BB) by half, the fund also reduced holdings in Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) by more than 50 percent in Q1.
Yacktman exited several small allocations in Q1, notably the fund sold out of H&R Block, Inc. (NYSE:HRB) and Tesco PLC (OTCMKTS:TSCDY) (LON:TSCO).