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Yacktman Asset Management LP
Yacktman Asset Management is an Austin-based boutique investment firm focused on long-term, active value investing. The firm seeks to achieve superior...
Overview
Yacktman Asset Management is an Austin-based boutique investment firm focused on long-term, active value investing. The firm seeks to achieve superior risk-adjusted returns over a full market cycle with an objective, patient, and diligent investment approach. They are value investors who also care about quality and invest across strategies spanning different geographies and market capitalizations. Historical Form 13F reports for YACKTMAN ASSET MANAGEMENT LP (CIK 0000905567, CRD 164420). The retained SEC submissions snapshot dated 2026-10-14 identifies the reporting manager by CIK 0000905567. The following figures describe historical Form 13F reports, not current financial figures. For the quarter ended 2026-06-30, the report chain filed through 2026-08-11 reports $8,089,240,585 in Section 13(f) long-position table value across 74 information-table rows and 74 distinct security, option and amount-type positions. Filing accessions: 0000905567-26-000003. For the quarter ended 2026-03-31, the report chain filed through 2026-05-01 reports $7,499,157,453 in Section 13(f) long-position table value across 76 information-table rows and 76 distinct security, option and amount-type positions. Filing accessions: 0000905567-26-000002. The five largest reported positions by table value for 2026-06-30 are: Canadian Natural Resources Limited, $650,269,066 reported table value; Berkshire Hathaway Inc., $581,217,997 reported table value; Alphabet Inc., $398,955,150 reported table value; Charles Schwab Corp, $378,450,203 reported table value; Microsoft Corporation, $376,483,118 reported table value. Form 13F covers specified long positions, not the full portfolio or total assets under management. It excludes short positions, cash and non-Section 13(f) securities; confidential treatment can omit holdings. Values are historical amounts as filed by the reporting manager, not independently verified market valuations. Put and call positions remain separate from ordinary shares; principal amounts remain separate from share counts. The SEC does not approve these investment holdings.
General information
Firm type
Asset Manager
Year founded
1992
AUM
~$6.8 billion (per Barron's, 2023)
Location
Region
North America
Country
United States
City
Austin
Corporate office
Austin, TX, United States
Principals
Donald Yacktman
Founder
Stephen Yacktman
Portfolio Manager, President
Jason Subotky
Portfolio Manager
Sector focus
Frequently asked questions
What investment methodology does Yacktman use?
The firm is a strict value investor. Managers target large-cap US companies with durable competitive moats, minimal debt, and strong free cash flow, purchased at a discount to intrinsic value. Portfolio turnover is low—the average holding period exceeds 5 years (per Morningstar).
Does Yacktman participate in private markets or direct deals?
No. Yacktman exclusively invests in publicly traded equities. It does not make venture capital, private equity, or real estate direct investments. Capital is deployed through the firm's mutual fund structures and separately managed accounts (per the firm's prospectus).
What geographic and sector focus does Yacktman maintain?
Yacktman invests primarily in US-listed companies, though underlying revenues can be global. Top sector allocations historically include consumer defensive, communication services, and financials. The firm avoids technology high-growth stocks unless they meet value criteria—Alphabet is a rare exception (per shareholder letters).
What is Yacktman's fee structure?
The Yacktman Focused Fund uses a fulcrum fee—an incentive-based structure where the management fee adjusts up or down based on the fund's performance relative to the S&P 500. The base fee is lower than industry averages, but can increase if outperformance persists (per SEC filings). That alignment is rare among traditional mutual funds.
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