Insightful Moves in the Fourth Quarter of 2024

Yacktman Asset Management (Trades, Portfolio) recently submitted its 13F filing for the fourth quarter of 2024, revealing strategic adjustments in its investment portfolio. Based in Austin, Texas, Yacktman Asset Management (Trades, Portfolio) is renowned for its value equity investing approach. The firm emphasizes an objective, patient, and diligent investment strategy, aiming to achieve superior returns over a full market cycle. The firm is led by a team of partners, including Chief Investment Officer Stephen Yacktman, and maintains operational autonomy despite being an affiliate of Affiliated Managers Group, Inc. (AMG). Yacktman Asset Management (Trades, Portfolio) focuses on acquiring securities that offer an attractive rate of return relative to their risk, employing a generalist approach where analysts cover the entire investment universe. The firm prioritizes companies with good business models, shareholder-oriented management, and low purchase prices.

Key Position Increases

Yacktman Asset Management (Trades, Portfolio) increased its stakes in a total of four stocks during the quarter. Notably, the firm added 168,723 shares of EOG Resources Inc (NYSE:EOG), bringing the total to 1,807,065 shares. This adjustment represents a significant 10.3% increase in share count, impacting the portfolio by 0.24% with a total value of $221,510,030. Additionally, the firm increased its position in ConocoPhillips (NYSE:COP) by 199,710 shares, totaling 1,883,942 shares. This represents an 11.86% increase in share count, with a total value of $186,830,530.

Key Position Reductions

Yacktman Asset Management (Trades, Portfolio) also reduced its position in 54 stocks, with the most significant changes including:

• Booking Holdings Inc (NASDAQ:BKNG) was reduced by 32,816 shares, resulting in a -93.83% decrease in shares and a -1.42% impact on the portfolio. The stock traded at an average price of $4,816.41 during the quarter and has returned 7.15% over the past three months and -4.67% year-to-date.
• Bank of New York Mellon Corp (NYSE:BK) was reduced by 1,533,754 shares, resulting in a -55.83% reduction in shares and a -1.13% impact on the portfolio. The stock traded at an average price of $77.39 during the quarter and has returned 14.56% over the past three months and 14.16% year-to-date.

Portfolio Overview

As of the fourth quarter of 2024, Yacktman Asset Management (Trades, Portfolio)'s portfolio comprised 71 stocks. The top holdings included 10.44% in Canadian Natural Resources Ltd (NYSE:CNQ), 6% in Microsoft Corp (NASDAQ:MSFT), 4.63% in U-Haul Holding Co (NYSE:UHAL.B), 4.23% in Procter & Gamble Co (NYSE:PG), and 4.22% in Charles Schwab Corp (NYSE:SCHW). The holdings are primarily concentrated in 10 of the 11 industries, including Consumer Defensive, Energy, Communication Services, Financial Services, Industrials, Technology, Healthcare, Basic Materials, Consumer Cyclical, and Utilities.

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