Yacktman Focused Fund (Trades, Portfolio), managed by Yacktman Asset Management (Trades, Portfolio), is renowned for its strategic investment approach aimed at long-term capital appreciation and, to a lesser extent, current income. The Fund, which is non-diversified, primarily invests in both domestic and international stocks across various industries, focusing on companies that offer dividends. The investment philosophy emphasizes objectivity, patience, and diligence, selecting stocks based on individual merits rather than market forecasts. Yacktman’s strategy blends elements of both growth and value investing, focusing on excellent businesses with shareholder-oriented management and attractive pricing.
Significant Portfolio Reductions
During the second quarter of 2024, Yacktman Focused Fund (Trades, Portfolio) made notable adjustments to its portfolio, including the reduction of positions in several key stocks:
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Associated British Foods PLC (LSE:ABF) saw a significant reduction of 838,843 shares, a 58.3% decrease, impacting the portfolio by -0.76%. The stock, which traded at an average price of 25.67 during the quarter, has returned 4.89% over the past three months and 6.62% year-to-date.
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Charles Schwab Corp (NYSE:SCHW) was reduced by 100,000 shares, a 7.55% decrease, with a -0.21% impact on the portfolio. The stock’s average trading price was $73.87 this quarter, with a 5.77% return over the past three months and a 9.94% year-to-date increase.
Complete Exit from Pioneer Natural Resources
Yacktman Focused Fund (Trades, Portfolio) also completely exited its position in one company during this period:
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Pioneer Natural Resources Co (PXD): The fund sold all 70,000 shares, resulting in a -0.53% impact on the portfolio.
Portfolio Overview
As of the second quarter of 2024, Yacktman Focused Fund (Trades, Portfolio)’s portfolio consisted of 48 stocks. The top holdings included 11.48% in Samsung Electronics Co Ltd (XKRX:005935), 8.95% in Bollore SE (XPAR:BOL), and 8.79% in Canadian Natural Resources Ltd (NYSE:CNQ). Other significant holdings were Microsoft Corp (NASDAQ:MSFT) at 4.77% and Alphabet Inc (NASDAQ:GOOG) at 4.7%. The fund’s investments are primarily concentrated in nine industries: Communication Services, Technology, Consumer Defensive, Energy, Industrials, Consumer Cyclical, Financial Services, Basic Materials, and Healthcare.
This strategic realignment in Yacktman Focused Fund (Trades, Portfolio)’s portfolio highlights its ongoing commitment to optimizing investment returns by adjusting holdings in response to changing market conditions and company performance. Investors and market watchers will undoubtedly keep a close eye on these developments to gauge potential impacts on future performance.
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