Yacktman Asset Management LP, an investment management firm headed by Donald Yacktman disclosed that its stock portfolio had a market value of $24,592,824,000 based on its 13F filing with the Securities and Exchange Commission (SEC) for the second-quarter ended June 30, 2014.
The filing showed that Yacktman Asset Management purchased one stock and increased his stockholdings in 14 stocks. The investment management firm also reduced its position in 23 equities. Its top ten holdings accounted 64.48% of its portfolio
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Yacktman – New position
During the second-quarter, Yacktman Asset Management purchased 1,200 shares of Samsung Electronics Co. Ltd (KRX:005935) (LON:BC94), the largest smartphone manufacturer worldwide. The South Korean electronics giant recently reported a net profit of 6.25 trillion, down by 19.56% on an annual basis, its worst financial performance in two years.
In a statement, Samsung Electronics Co. Ltd (KRX:005935) (LON:BC94) explained, “The second quarter was affected by several factors including the slow global sales of smartphones and tablets and escalating marketing expenditure to reduce inventory.”
Yacktman Asset Management’s stockholding in Samsung Electronics Co. Ltd (KRX:005935) (LON:BC94) is worth approximately $1.56 million.
Yacktman – Added positions
Yacktman Asset Management significantly increased its position in Twenty-First Century Fox Inc (NASDAQ:FOX). During the quarter, the investment management firm purchased additional 14,606,909 shares bringing its stake in the company to total of 18,702,500 shares. Its stake in Twenty-First Century Fox has a market value of approximately $640.18 million.
Twenty-First Century Fox Inc (NASDAQ:FOX) is scheduled to report its fourth-quarter fiscal 2014 financial results on August 6. Wall Street analysts are expected that the company will report earnings of $0.38 per share. The company recently offered to acquire Time Warner Inc (NYSE:TWX) for $80 billion. Time Warner rejected the proposal.
Yacktman Asset Management also boosted its stake in eBay Inc (NASDAQ:EBAY) by 11,717 shares to 8,232,534 share. Its stake in online market place is worth approximately $412.12 million.
The investment management firm purchased additional 20,000 shares of Intel Corporation (NASDAQ:INTC). Its total stockholding in the tech giant is now 2,635,000 shares worth around $81.42 million.
In addition, Yacktman Asset Management increased its position in The Procter & Gamble Company (NYSE:PG) by 1,677,220 shares to 28,191,905 shares worth approximately $2.21 billion.
The investment management firm also boosted its stake in Avon Products, Inc. (NYSE:AVP) by 2,055,090 shares to 27,054,646 shares. Its stake in the company has a market value of around $395.26 million.
Yacktman – Reduced & sold out position
During the quarter, Yacktman Asset Management reduced its stake in the Class A shares of Twenty-First Century Fox, Inc (NASDAQ:FOXA) by 14,405,573 shares to 44,378,906 shares.
The investment management firm also sold 1,501,684 shares of PepsiCo, Inc (NYSE:PEP) and 1,413,391 share of Stryker Corporation (NYSE:SYK), among others.
Yacktman Asset Management sold out its entire stake in Covidien plc (NYSE:COV).