Yacktman Discloses Stakes In Twenty-First Century Fox, Sysco, Clorox

Yacktman Discloses Stakes In Twenty-First Century Fox, Sysco, Clorox
Image source: YouTube Video Screenshot

Yacktman Asset Management LP, the investment management firm founded and headed by Donald Yacktman, disclosed its stockholdings in several companies during the fourth quarter that ended December 31, 2013 based on its latest schedule 13G filings with the Securities and Exchange Commission (SEC).

Disclosed stockholdings

During the fourth quarter, Yacktman held 63,371,951 shares or a 4.2% stake in Twenty-First Century Fox Inc (NASDAQ:FOXA). Mr. Yacktman said the firm modestly reduced its position in the entertainment company during the period because of strong price appreciation.

Crypto Hedge Fund Three Arrows Blows Up, Others Could Follow

CryptoA few years ago, crypto hedge funds were all the rage. As cryptocurrencies rose in value, hundreds of hedge funds specializing in digital assets launched to try and capitalize on investor demand. Some of these funds recorded double-digit gains in 2020 and 2021 as cryptocurrencies surged in value. However, this year, cryptocurrencies have been under Read More

Yacktman Asset Management also disclosed 32,096,635 shares or a 5.5% stake in SYSCO Corporation (NYSE:SYY). Mr. Yacktman believed that Sysco’s agreement to acquire its largest competitor, U.S. Foods, Inc. is extremely attractive because the combined company will provide significant cost savings opportunities and economies of scale.

In addition, the mutual fund also held 7,755,464 shares or a 10% stake in C.R. Bard, Inc. (NYSE:BCR), 6,094,762 shares or a 4.7% stake in The Clorox Co (NYSE:CLX), and 7,453,620 shares or a 6.6% stake in Apollo Education Group Inc (NASDAQ:APOL).

Furthermore, Yacktman Asset Management also disclosed 1,509,476 shares or a 4.97% stake in Resource America Inc (NASDAQ:REXI), and 529,745 shares or a 1.4% stake in Bancorp Inc (NASDAQ:TBBK).

Top contributors

Yacktman Asset Management manages two funds—the Yacktman Focused Fund and the Yacktman Fund. During the fourth quarter, the funds generated 6.95% and 6.98% returns, respectively.

One of the top contributors in its portfolio was C.R. Bard, Inc. (NYSE:BCR). The stock price of the company increased significantly during the quarter when the company received $800 million in pre-tax proceeds from winning a lengthy patent lawsuit. According to the investment management firm, C.R. Bard is well positioned to become one of the fastest growing health care companies over the next few years. The company recently made acquisitions and increased investments in new technologies using its pre-tax proceeds.

During the quarter, the Yacktman Asset Management also benefited from its stockholdings in The Coca-Cola Company (NYSE:KO) and Microsoft Corporation (NASDAQ:MSFT). The shares of both companies rose during the quarter. The stock price of the software giant gained due to its stronger-than expected earnings and investors’ anticipation for the appointment of a new chief executive officer.

Yacktman Fund closes to new investors

Last month, Yacktman Focused Fund and Yacktman Fund closed to new investors. The investment management firm explained, “We believe it is prudent to restrict flows to preserve the integrity of our investment approach and maintain flexibility. The closure is not related to the level of the market or our ability to find attractive investments currently.”

Updated on

Marie received her Bachelors Degree in Mass Communication from New Era University. She is a former news writer and program producer for Nation Broadcasting Corporation (NBC-DZAR 1026), a nationwide AM radio station. She was also involved in events management. Marie was also a former Young Ambassador of Goodwill during the 26th Ship for Southeast Asian Youth Program (SSEAYP). She loves to read, travel and take photographs. She considers gardening a therapy.
Previous article Charlie Munger Daily Journal Holdings: BAC, USB, WFC, PKX
Next article Apple iPhone 6 May Not Use Sapphire; iWatch Could Instead

No posts to display