The Big Changes in Yacktman Asset Management LP's Q3-Q4 2022 Holdings

Yacktman Asset Management LP is one of the top investment management firms in the world, with over $20 billion in assets under management. They have recently filed their 13F form with the U.S. Securities and Exchange Commission, which is a quarterly report of their portfolio holdings. In this report, we see some significant changes in their holdings from Q3 to Q4 of 2022. In this blog post, we will be discussing the changes in Yacktman's holdings and what it means for the market.

Firstly, one of the largest changes was in their holdings of Canadian Natural Resources Ltd. Although they reduced their holdings by 14.4%, they still maintain a large position in the company, with 15.2 million shares. This could suggest that Yacktman is still bullish on the oil and gas industry, despite its volatility.

However, Yacktman's reduction in their holdings of PepsiCo, Inc. by 23.4% suggests otherwise. While it's still unclear why they reduced their position, it could be a sign that they believe the company is overvalued, or that they no longer see potential for growth in the near future.

In contrast, Yacktman increased their holdings in Procter & Gamble by 18.7%, which shows their confidence in the consumer goods industry. This is a common theme throughout their portfolio, as they also increased their holdings in Coca-Cola Co. by 12.9%, and maintained their position in Sysco Corporation, despite reducing it by 15.2%.

One of the most interesting changes is their new position in Warner Bros Discovery Inc. While they did not hold any shares in the company in Q3, they acquired over 7.9 million shares in Q4, making it their second-largest holding. This suggests they have faith in the future of the media and entertainment industry.

Additionally, Yacktman's significant increase in their holdings of Micron Technology Inc by 0.8% could be a sign of their belief in the semiconductor industry, which has been booming in recent years.

On the other hand, Yacktman reduced their holdings of Walt Disney Company by 8%, and FirstCash Holdings Inc. by 100%. This suggests they may no longer see potential for growth in these companies and have decided to move their investments elsewhere.

In conclusion, Yacktman Asset Management LP's Q3-Q4 2022 13F report shows some significant changes in their portfolio holdings. While some of their moves may seem counterintuitive, we can see some common themes across their portfolio, such as their confidence in the consumer goods and oil and gas industries. It will be interesting to see how these changes play out in the future market.