Highlighting the Complete Exit from Pioneer Natural Resources Co
Yacktman Asset Management (Trades, Portfolio), an Austin, Texas-based investment firm renowned for its value equity investing, recently disclosed its 13F filings for the second quarter of 2024. The firm, led by a team of seasoned investment professionals including Chief Investment Officer Stephen Yacktman, emphasizes a disciplined, patient, and objective approach to achieve superior returns over full market cycles. With a focus on good businesses at low prices and shareholder-oriented management, Yacktman Asset Management (Trades, Portfolio) continues to refine its portfolio to align with its strategic investment philosophy.
Summary of New Buys
During the second quarter, Yacktman Asset Management (Trades, Portfolio) initiated a position in one new stock:
- MSCI Inc (MSCI, Financial), purchasing 7,110 shares valued at approximately $3.43 million, which now represents 0.03% of the portfolio.
Key Position Increases
The firm also increased its stakes in several companies, notably:
- Kenvue Inc (KVUE, Financial), with an additional 1,883,457 shares, bringing the total to 8,148,773 shares. This adjustment increased the share count by 30.06% and had a 0.32% impact on the current portfolio, totaling $148.14 million.
- Exxon Mobil Corp (XOM, Financial), with an additional 42,085 shares, bringing the total to 162,485 shares. This adjustment represents a 34.95% increase in share count, totaling $18.71 million.
Summary of Sold Out Positions
Yacktman Asset Management (Trades, Portfolio) completely exited two holdings in this quarter:
- Pioneer Natural Resources Co (PXD, Financial), liquidating all 307,400 shares, which had a -0.73% impact on the portfolio.
- Visa Inc (V, Financial), selling all 732 shares, with a negligible impact on the portfolio.
Key Position Reductions
The firm reduced its positions in several stocks, with significant changes in:
- Charles Schwab Corp (SCHW, Financial), reducing by 374,352 shares, resulting in a -5.96% decrease in shares and a -0.24% impact on the portfolio. The stock traded at an average price of $73.87 during the quarter and has returned -15.55% over the past three months and -7.17% year-to-date.
- Micron Technology Inc (MU, Financial), reducing by 210,000 shares, resulting in an -87.5% reduction in shares and a -0.22% impact on the portfolio. The stock traded at an average price of $126.02 during the quarter and has returned -16.24% over the past three months and 10.35% year-to-date.
Portfolio Overview
As of the second quarter of 2024, Yacktman Asset Management (Trades, Portfolio)'s portfolio included 72 stocks. The top holdings were 9.84% in Canadian Natural Resources Ltd (CNQ, Financial), 6.43% in Microsoft Corp (MSFT, Financial), and 6.08% in Alphabet Inc (GOOG, Financial). The portfolio is mainly concentrated in sectors such as Consumer Defensive, Energy, and Communication Services.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
