Yacktman Asset Management LP, the investment management firm headed by Donald Yacktman disclosed that its portfolio has a market value of around $24 billion based on its 13F filing with the Securities and Exchange Commission (SEC) for the first quarter of 2014.
During the quarter Yacktman Asset Management increased its stake in 7 stocks, reduced his stockholding in 34 companies, and dumped its entire stake in four stocks. The investment management firm did not acquire any new stock for the period.
There's a gold rush coming as electric vehicle manufacturers fight for market share, proclaimed David Einhorn at this year's 2021 Sohn Investment Conference. Check out our coverage of the 2021 Sohn Investment Conference here. Q1 2021 hedge fund letters, conferences and more SORRY! This content is exclusively for paying members. SIGN UP HERE If you Read More
PepsiCo, Inc. (NYSE:PEP) is the largest stockholding of Yacktman Asset Management representing 11.48% of its portfolio followed by The Procter & Gamble Company (NYSE:PG), which represents 8.9%.
Yacktman’s Increased positions
Yacktman Asset Management increased its stake in Twenty-First Century Fox Inc (NASDAQ:FOX) by 669% or 3,563,600 shares to 4,095,600 shares with an estimated market value of $127,455,000.
The investment management firm acquired additional 6,199,440 shares of Avon Products, Inc. (NYSE:AVP) bringing its stockholdings in the beauty products company to 24,999,556 shares worth approximately $365,994,000.
Yacktman Asset Management is also bet more on beverage companies PepsiCo, Inc. (NYSE:PEP) and The Coca-Cola Company (NYSE:KO). During the quarter, the investment management firm bought additional 1,120 461 shares of PepsiCo and additional 1,210,100 shares of Coca-Cola. Its total stake in PepsiCo was over 33 million shares worth approximately $2.76 billion while its stake in Coca-Cola was over 44.4 million share worth around $1.72 billion.
The investment management firm also bought additional 705,732 share of The Procter & Gamble Company (NYSE:PG) bringing its stake to more than 26.5 million shares. It also acquired 54,805 shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) bringing its total stake in the company to more than 6.5 million shares. Yacktman Asset Management increased its stake in Wal-Mart Stores, Inc. (NYSE:WMT) by 1,000 shares to more than 3.25 million shares.
Yacktman’s Reduced Positions
Yacktman Asset Management reduced its stake in technology companies including Microsoft Corporation (NASDAQ:MSFT) by 1,281,893 shares to 32,936,754 shares; Oracle Corporation (NYSE:ORCL) by 108,856 shares to 27,774,201 shares, Cisco Systems, Inc. (NASDAQ:CSCO) by 163,013 shares tp 62,292,307 shares; eBay, Inc (NASDAQ:EBAY) by 38,290 shares to 8,220,817 shares; and Hewlett-Packard Company (NYSE:HPQ) by 1,794,964 shares to 4,061,279 shares.
The firm also reduced its stake in financial stocks including Wells Fargo & Co (NYSE:WFC) by 33,560 shares to 4,753.749 shares, U.S. Bancorp (NYSE:USB) by 50,491 shares to 12,651,030 shares; Bank of America (NYSE:BAC) by 20,000 shares to 5,.670,000 shares.
Yacktman Asset Management sold more than 7 million shares of Corning Incorporated (NYSE:GLW) and over 3 million shares of Apollo Education Group Inc (NASDAQ:APOL) during the quarter. The firm still owns more than 7.2 million shares of GLW and over 3.8 million shares of APOL.