The Yacktman Fund (Trades, Portfolio) gained seven new positions in the first quarter, though some came from changes in its existing companies.
The firm reported on Wednesday that its portfolio welcomed: The Walt Disney Co. (DIS, Financial), Booking Holdings Inc. (BKNG, Financial), Brenntag AG (XTER:BNR, Financial), Alphabet Inc. (GOOG, Financial), Fox Corp. (FOX, Financial), Beiersdorf AG (BDRFY, Financial) and Fox Corp. (FOXA, Financial). Fox Corp. and The Walt Disney Co. came into the portfolio when the fund’s previous holding, Twenty-First Century Fox, sold many of its assets to Disney in the first quarter.
The Yacktman Fund (Trades, Portfolio) seeks good businesses with shareholder-oriented management and trading prices below what an investor would pay for the entire company. At first quarter-end, it held 35 stocks valued at $5.57 billion. Consumer defensive stocks occupied the greatest space at 30.83% of the portfolio, followed by technology at 27.92% and consumer cyclical at 10.36%.
The risk-averse fund declined 3.8% versus the 13.52% drop in the S&P 500 for the fourth quarter. Since inception, it returned 10.17% versus 9.2% for the index. Founded by investor Donald Yacktman, the fund is now helmed by Chief Investment Officer Stephen Yacktman.
First-quarter new positions
The Walt Disney Co. (DIS, Financial)
The fund gained 2,040,441 shares of The Walt Disney Co., which occupied 4.07% of the portfolio.
The Walt Disney Co. has a market cap of $236.85 billion; its shares were traded around $131.76 Wednesday with a price-earnings ratio of 19.11 and price-sales ratio of 3.30. The trailing 12-month dividend yield of The Walt Disney Co. is 1.30%. The forward dividend yield of The Walt Disney Co. is 1.35%.
Booking Holdings Inc. (BKNG, Financial)
The fund purchased 117,500 shares of Booking Holdings, giving it 3.68% portfolio weight. The stock’s fourth-quarter share price averaged $1,785.
Booking Holdings Inc. has a market cap of $82.81 billion; its shares were traded around $1,839.79 Wednesday with a price-earnings ratio of 22.08 and price-sales ratio of 6.08. Booking Holdings Inc. had an annual average earnings growth of 30.70% over the past 10 years. GuruFocus rated Booking Holdings Inc. the business predictability rank of 3.5-star.
Brenntag AG (XTER:BNR, Financial)
The fund purchased 2.305 million shares of Brenntag AG, giving it 2.13% portfolio weight. The stock’s first-quarter share price averaged 43 euros.
Brenntag AG has a market cap of 7.42 billion euros; its shares were traded around 48.00 euros with a price-earnings ratio of 16.05 and price-sales ratio of 0.58. The trailing 12-month dividend yield of Brenntag AG is 2.29%. The forward dividend yield of Brenntag AG is 2.29%. Brenntag AG had an annual average earnings growth of 3.80% over the past 10 years. GuruFocus rated Brenntag AG the business predictability rank of 4.5-star.
Alphabet Inc. (GOOG, Financial)
The fund purchased 100,000 shares of Alphabet Inc., giving it 2.11% portfolio weight. The stock’s first-quarter share price averaged $1,120.
Alphabet Inc. has a market cap of $861.15 billion; its shares were traded around $1,236.34 with a price-earnings ratio of 28.41 and price-sales ratio of 6.60. Alphabet Inc. had an annual average earnings growth of 15.30% over the past 10 years. GuruFocus rated Alphabet Inc. the business predictability rank of 3.5-star.
The fund gained 2,693,333 shares of Fox Corp., occupying 1.73% of the portfolio.
Fox Corp. has a market cap of $23.91 billion; its shares were traded around $38.21 with a price-earnings ratio of 24.86.
Beiersdorf AG (BDRFY, Financial)
The fund purchased 4,305,280 shares of Beiersdorf AG, giving it 1.62% portfolio weight. The stock’s first-quarter share price averaged $20.
Beiersdorf AG has a market cap of $23.74 billion; its shares were traded around $21.01 with a price-earnings ratio of 29.16 and price-sales ratio of 2.94. The trailing 12-month dividend yield of Beiersdorf AG is 0.79%. The forward dividend yield of Beiersdorf AG is 0.76%. Beiersdorf AG had an annual average earnings growth of 5% over the past 10 years. GuruFocus rated Beiersdorf AG the business predictability rank of 2-star.
The fund gained 1,333,333 of Fox Corp. A-shares, occupying 0.88% of the portfolio.
Fox Corp. has a market cap of $23.95 billion; its shares were traded around $38.84 Wednesday with a price-earnings ratio of 24.92.
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