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.
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.