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Donald Yacktman Buys Microsoft, Coca-Cola Co, CH Robinson, Sells H&R Block, Research in Motion

By: GuruFocus
Posted: 5/2/2013 11:46:00 AM
Referenced Stocks: MSFT;NWSA;PEP;PG;UPS

Renowned value investor Donald Yacktman just reported his first quarter holdings. Yacktman Fund s buys Microsoft Corporation, Coca-Cola Co, CH Robinson Worldwide, Inc., Johnson & Johnson, Sigma-Aldrich Corporation, Sysco Corporation, C.R. Bard, Inc., Exxon Mobil Corporation, sells H&R Block Inc, Research in Motion Ltd, Liberty Interactive Corp, Colgate-Palmolive Company, Medtronic, Inc., Berkshire Hathaway Inc, Equifax, Inc., Berkshire Hathaway Inc, Tesco PLC, United Parcel Service Inc ( UPS ), Viacom, Inc., Western Union Company during the 3-months ended 03/31/2013, according to the most recent filings of his investment company, Yacktman Asset Management Co.

Besides his 13F filings, we also track the portfolios of Yacktman Fund and Yacktman Focus Fund. Cleary Mr. Yacktman is buying large cap high quality companies, as he mentioned in his shareholder letters.

These are the comment from Yacktman Fund on why they sold some of the positions:

During the quarter, Hewlett-Packard ("HP"), Avon Products ("Avon"), Dell, H&R Block and Blackberry all produced meaningful returns. HP and Avon both appreciated, as investors grew more confident that the new management teams at each company would have success stabilizing the businesses.

Dell jumped after receiving a buyout proposal from management. Apollo Group was our largest decliner during the quarter as the business continued to struggle. We think the valuation continues to be compelling. It is important to remember that not all special situations will work out, but that we expect these investments will work out well when judged as a group over time.

We sold H&R Block because we thought the price appreciation made the shares unattractive. Our Blackberry position was reduced significantly as its price moved higher before its product launch.

As of 03/31/2013, Yacktman Asset Management Co. owns 52 stocks with a total value of $19.5 billion. These are the details of the buys and sells.

For the details of Donald Yacktman's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Donald+Yacktman

This is the sector weightings of his portfolio:

Consumer Defensive 37.7%
Healthcare 18%
Consumer Cyclical 16.1%
Technology 15.6%
Financial Services 5.5%
Energy 3.3%
Communication Services 1.8%
Industrials 1.2%
Basic Materials 0.5%



These are the top 5 holdings of Donald Yacktman

  1. News Corporation ( NWSA ) - 75,774,270 shares, 11.8% of the total portfolio. Shares reduced by 5.41%
  2. Procter & Gamble Co ( PG ) - 26,537,423 shares, 10.5% of the total portfolio. Shares reduced by 4.38%
  3. PepsiCo Inc ( PEP ) - 23,044,812 shares, 9.3% of the total portfolio. Shares added by 0.17%
  4. Microsoft Corporation ( MSFT ) - 41,348,690 shares, 6.1% of the total portfolio. Shares added by 38.51%
  5. Cisco Systems Inc (CSCO) - 52,439,220 shares, 5.6% of the total portfolio. Shares reduced by 0.01%


New Purchase: Sigma-Aldrich Corporation ( SIAL )

Donald Yacktman initiated holdings in Sigma-Aldrich Corporation. His purchase prices were between $73.58 and $78.95, with an estimated average price of $77.07. The impact to his portfolio due to this purchase was 0.5%. His holdings were 1,244,900 shares as of 03/31/2013.

Sold Out: H&R Block Inc (HRB)

Donald Yacktman sold out his holdings in H&R Block Inc. His sale prices were between $18.57 and $29.42, with an estimated average price of $23.95.

Sold Out: Medtronic, Inc. (MDT)

Donald Yacktman sold out his holdings in Medtronic, Inc.. His sale prices were between $41.02 and $47.22, with an estimated average price of $45.42.

Sold Out: Equifax, Inc. (EFX)

Donald Yacktman sold out his holdings in Equifax, Inc.. His sale prices were between $53.13 and $59.72, with an estimated average price of $56.39.

Sold Out: Tesco PLC (TSCDY)

Donald Yacktman sold out his holdings in Tesco PLC. His sale prices were between $16.58 and $17.54, with an estimated average price of $17.03.

Sold Out: United Parcel Service Inc ( UPS ) ( UPS )

Donald Yacktman sold out his holdings in United Parcel Service Inc ( UPS ). His sale prices were between $73.73 and $85.9, with an estimated average price of $81.84.

Sold Out: Viacom, Inc. (VIA)

Donald Yacktman sold out his holdings in Viacom, Inc.. His sale prices were between $54.27 and $66.45, with an estimated average price of $61.61.

Added: Microsoft Corporation ( MSFT )

Donald Yacktman added to his holdings in Microsoft Corporation by 38.51%. His purchase prices were between $26.46 and $28.605, with an estimated average price of $27.67. The impact to his portfolio due to this purchase was 1.7%. His holdings were 41,348,690 shares as of 03/31/2013.

Added: Coca-Cola Co ( KO )

Donald Yacktman added to his holdings in Coca-Cola Co by 38.02%. His purchase prices were between $36.25 and $40.69, with an estimated average price of $38.16. The impact to his portfolio due to this purchase was 1.29%. His holdings were 22,889,752 shares as of 03/31/2013.

Added: CH Robinson Worldwide, Inc. ( CHRW )

Donald Yacktman added to his holdings in CH Robinson Worldwide, Inc. by 451.45%. His purchase prices were between $55.98 and $67.92, with an estimated average price of $61.1. The impact to his portfolio due to this purchase was 0.98%. His holdings were 3,914,775 shares as of 03/31/2013.

Added: Johnson & Johnson ( JNJ )

Donald Yacktman added to his holdings in Johnson & Johnson by 16.02%. His purchase prices were between $70.1 and $81.53, with an estimated average price of $75.58. The impact to his portfolio due to this purchase was 0.57%. His holdings were 9,740,875 shares as of 03/31/2013.

Added: Sysco Corporation ( SYY )

Donald Yacktman added to his holdings in Sysco Corporation by 6.23%. His purchase prices were between $30.88 and $35.17, with an estimated average price of $32.41. The impact to his portfolio due to this purchase was 0.32%. His holdings were 30,394,044 shares as of 03/31/2013.

Added: C.R. Bard, Inc. ( BCR )

Donald Yacktman added to his holdings in C.R. Bard, Inc. by 8.23%. His purchase prices were between $97.74 and $103.51, with an estimated average price of $100.89. The impact to his portfolio due to this purchase was 0.31%. His holdings were 8,012,992 shares as of 03/31/2013.

Added: Exxon Mobil Corporation ( XOM )

Donald Yacktman added to his holdings in Exxon Mobil Corporation by 24.5%. His purchase prices were between $86.55 and $91.76, with an estimated average price of $89.32. The impact to his portfolio due to this purchase was 0.26%. His holdings were 2,738,519 shares as of 03/31/2013.

Reduced: Research in Motion Ltd ( BBRY )

Donald Yacktman reduced to his holdings in Research in Motion Ltd by 51.64%. His sale prices were between $11.47 and $17.9, with an estimated average price of $14.36. The impact to his portfolio due to this sale was -0.44%. Donald Yacktman still held 5,829,632 shares as of 03/31/2013.

Reduced: Liberty Interactive Corp (LINTA)

Donald Yacktman reduced to his holdings in Liberty Interactive Corp by 26.43%. His sale prices were between $19.68 and $21.92, with an estimated average price of $21.17. The impact to his portfolio due to this sale was -0.12%. Donald Yacktman still held 2,943,551 shares as of 03/31/2013.

Reduced: Colgate-Palmolive Company (CL)

Donald Yacktman reduced to his holdings in Colgate-Palmolive Company by 20.27%. His sale prices were between $104.54 and $118.03, with an estimated average price of $111.15. The impact to his portfolio due to this sale was -0.12%. Donald Yacktman still held 770,000 shares as of 03/31/2013.

Reduced: Berkshire Hathaway Inc (BRK.A)

Donald Yacktman reduced to his holdings in Berkshire Hathaway Inc by 73.45%. His sale prices were between $134060 and $156280, with an estimated average price of $148503. The impact to his portfolio due to this sale was -0.07%. Donald Yacktman still held 30 shares as of 03/31/2013.

Reduced: Berkshire Hathaway Inc (BRK.B)

Donald Yacktman reduced to his holdings in Berkshire Hathaway Inc by 57.46%. His sale prices were between $89.7 and $104.2, with an estimated average price of $98.85. The impact to his portfolio due to this sale was -0.01%. Donald Yacktman still held 16,079 shares as of 03/31/2013.

Reduced: Western Union Company (WU)

Donald Yacktman reduced to his holdings in Western Union Company by 56.45%. His sale prices were between $13.36 and $15.04, with an estimated average price of $14.17. The impact to his portfolio due to this sale was -0.01%. Donald Yacktman still held 56,400 shares as of 03/31/2013.

Here is the complete portfolio of Donald Yacktman. Also check out:

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4. Stocks that Donald Yacktman keeps buyingAbout GuruFocus: GuruFocus.com tracks the stocks picks and portfolio holdings of the world's best investors. This value investing site offers stock screeners and valuation tools. And publishes daily articles tracking the latest moves of the world's best investors. GuruFocus also provides promising stock ideas in 3 monthly newsletters sent to Premium Members .