Yacktman Asset Management (Trades, Portfolio), an Austin, Texas-based investment firm, recently filed its 13F report for the second quarter of 2023. The firm is renowned for its focus on value equity investing, employing an objective, patient, and diligent investment approach. The firm's operational autonomy is maintained under the ownership of its partners and Affiliated Managers Group, Inc., a publicly traded global asset management company. This article will delve into the details of the firm's recent transactions and portfolio updates.
Portfolio Overview
As of the end of Q2 2023, Yacktman Asset Management (Trades, Portfolio)'s portfolio contained 67 stocks, with a total value of $10.55 billion. The firm's top holdings were CNQ (8.06%), MSFT (6.19%), and GOOG (4.74%).
Top Three Trades of the Quarter
The firm's top three trades of the quarter included transactions in Olin Corp (OLN, Financial), Booking Holdings Inc (BKNG, Financial), and iShares MSCI South Korea ETF (EWY, Financial).
New Position: Olin Corp (OLN, Financial)
Yacktman Asset Management (Trades, Portfolio) established a new position in Olin Corp (OLN), purchasing 4,315,529 shares. This investment gave the stock a 2.1% weight in the equity portfolio. The shares were traded at an average price of $53.22 during the quarter. As of August 15, 2023, Olin Corp had a market cap of $7 billion and a stock price of $55.61. Despite a -1.54% return over the past year, the company has a financial strength rating of 5 out of 10 and a profitability rating of 7 out of 10. The valuation ratios for Olin Corp include a price-earnings ratio of 9.43, a price-book ratio of 2.88, a EV-to-Ebitda ratio of 5.93, and a price-sales ratio of 0.98.
Reduced Position: Booking Holdings Inc (BKNG, Financial)
The firm reduced its investment in Booking Holdings Inc (BKNG) by 27,053 shares, impacting the equity portfolio by 0.71%. The shares were traded at an average price of $2,641.83 during the quarter. As of August 15, 2023, Booking Holdings had a market cap of $114.58 billion and a stock price of $3,210.23. The stock has returned 50.77% over the past year. The company has a financial strength rating of 6 out of 10 and a profitability rating of 9 out of 10. The valuation ratios for Booking Holdings include a price-earnings ratio of 27.72, a EV-to-Ebitda ratio of 16.74, and a price-sales ratio of 6.34.
Sold Out: iShares MSCI South Korea ETF (EWY, Financial)
Yacktman Asset Management (Trades, Portfolio) sold out of its 584,913-share investment in iShares MSCI South Korea ETF (EWY). The shares were traded at an average price of $62.62 during the quarter. As of August 15, 2023, the ETF had a market cap of $3.62 billion and a price of $62.07. The stock has returned 1.97% over the past year.
In conclusion, Yacktman Asset Management (Trades, Portfolio)'s Q2 2023 13F filing reveals a strategic approach to value investing, with significant transactions in diverse sectors. The firm's portfolio adjustments reflect its commitment to achieving superior investment returns over a full market cycle.
