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Yacktman Fund Sells Viacom, Oracle, Microsoft

- By Tiziano Frateschi

The Yacktman Fund (Trades, Portfolio) seeks long-term capital appreciation by investing in common stocks of U.S. companies of any size. During the first quarter, the fund sold shares in the following stocks:


The fund closed its position in Viacom Inc. (VIAB) with an impact of -1.85% on the portfolio.

Viacom is an entertainment content company that produces and distributes television programming, motion pictures and other creative entertainment content. Its segments are Media Networks and Filmed Entertainment.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity (ROE) of 33.92% and return on assets (ROA) of 6.11% are outperforming 72% of the companies in the Global Media - Diversified industry. Financial strength has a rating of 4 out of 10. The cash-debt ratio of 0.04 is below the industry median of 1.54.

The largest shareholder of the company among the gurus is Donald Yacktman (Trades, Portfolio) with 1.08% of outstanding shares, followed by John Rogers (Trades, Portfolio) with 0.93%, NWQ Managers (Trades, Portfolio) with 0.72%, Jeremy Grantham (Trades, Portfolio) with 0.47%, Steven Cohen (Trades, Portfolio) with 0.37% and Jim Simons (Trades, Portfolio) with 0.29% .

The fund reduced its holding of Oracle Corp. (ORCL) by 11.43% with an impact of -0.69% on the portfolio.

The company develops, manufactures, markets, hosts and supports database and middleware software, application software, cloud infrastructure, hardware system including computer server, storage and networking products and related services

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The ROE of 18.60% and ROA of 7.57% are outperforming 70% of the companies in the Global Software - Infrastructure industry. Financial strength has a rating of 6 out of 10. The cash-debt ratio of 1.10 is below the industry median of 10.13.

First Eagle Investment (Trades, Portfolio) is the largest shareholder of the company among the gurus with 0.97% of outstanding shares, followed by Barrow, Hanley, Mewhinney & Strauss with 0.94%, First Pacific Advisors (Trades, Portfolio) with 0.53%, Yacktman with 0.48%, Hotchkis & Wiley with 0.43%, Steven Romick (Trades, Portfolio) with 0.39%, Grantham with 0.38%, Ken Fisher (Trades, Portfolio) with 0.28% and Richard Pzena (Trades, Portfolio) with 0.25%.

The fund curbed its C.R. Bard Inc. (BCR) stake by 36.36%. The trade had an impact of -0.68% on the portfolio.

The company manufactures, distributes and sells medical, surgical, diagnostic and patient care devices. It sells its products to hospitals, individual health care professionals and extended care facilities.

GuruFocus gives the company a profitability and growth rating of 9 out of 10. The ROE of 33.30% and ROA of 10.26% are underperforming 83% of the companies in the Global Medical Instruments and Supplies industry. Financial strength has a rating of 6 out of 10. The cash-debt ratio of 0.55 is below the industry median of 1.62.

The largest shareholder of the company among the gurus is Yacktman with 1% of outstanding shares, followed by Simons with 0.7%, Cohen with 0.53%, Grantham with 0.13%, Paul Tudor Jones (Trades, Portfolio) with 0.1% and Joel Greenblatt (Trades, Portfolio) with 0.07%.

The fund reduced its position in Twenty-First Century Fox Inc. (FOXA) by 6.38% with an impact of -0.62% on the portfolio.

It is a diversified media and entertainment company. It operates in five business segments: Cable Network Programming, Television, Filmed Entertainment, Direct Broadcast Satellite Television and Other, Corporate and Eliminations.

GuruFocus gives the company a profitability and growth rating of 9 out of 10. The ROE of 21.79% and ROA of 6.33% are outperforming 73% of the companies in the Global Media - Diversified industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.23 is below the industry median of 1.52.

Dodge & Cox is the largest shareholder of the company among the gurus with 3.72% of outstanding shares, followed by Yacktman with 12.35%, Barrow, Hanley, Mewhinney & Strauss with 1.68%, the Yacktman Fund with 1.16%, Seth Klarman (Trades, Portfolio) with 1.03%, Andreas Halvorsen (Trades, Portfolio) with 0.66%, Manning & Napier Advisors Inc. with 0.52%, Warren Buffett (Trades, Portfolio) with 0.48% and the Yacktman Focused Fund (Trades, Portfolio) with 0.44%.

The fund reduced its Stryker Corp. (SYK) stake by 33.33%. The transaction had an impact of -0.54% on the portfolio.

Stryker offers medical technologies, including reconstructive, medical and surgical and neurotechnology and spine products.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The ROE of 18.18% and ROA of 8.49% are outperforming 81% of the companies in the Global Medical Devices industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.49 is below the industry median of 2.55.

The largest shareholder of the company among the gurus is Vanguard Health Care Fund (Trades, Portfolio) with 0.44% of outstanding shares, followed by Grantham with 0.39%,Yacktman with 0.31%, Diamond Hill Capital (Trades, Portfolio) with 0.25%, the Yacktman Fund with 0.16% and Cohen with 0.09%.

The Yacktman Fund reduced its position in Microsoft Corp. (MSFT) by 8.20% with an impact of -0.47% on the portfolio.

The company is engaged in designing, manufacturing and selling devices and online advertising. Its products include operating systems for computing devices, servers, phones and other devices.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The ROE of 23.11% and ROA of 8.44% are outperforming 75% of the companies in the Global Software - Infrastructure industry. Financial strength has a rating of 6 out of 10. The cash-debt ratio of 1.45 is below the industry median of 10.13.

PRIMECAP Management (Trades, Portfolio) is the largest shareholder of the company among the gurus with 0.69% of outstanding shares, followed by Dodge & Cox with 0.55%, Jeff Ubben (Trades, Portfolio) with 0.5%, First Eagle Investment (Trades, Portfolio) with 0.31%, Halvorsen with 0.28% and Barrow, Hanley, Mewhinney & Strauss with 0.24%.

The fund curbed its PepsiCo Inc. (PEP) stake by 7.32% with an impact of -0.47% on the portfolio.

It is a food, snack and beverage company that serves customers and consumers in more than 200 countries and territories.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The ROE of 53.33% and ROA of 8.78% are outperforming 69% of the companies in the Global Beverages - Soft Drinks industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.44 is below the industry median of 0.72.

The largest shareholder of the company among the gurus is Yacktman with 0.61% of outstanding shares, followed by Fisher with 0.38%, Pioneer Investments (Trades, Portfolio) with 0.27%, T Rowe Price Equity Income Fund (Trades, Portfolio) with 0.17% and David Carlson (Trades, Portfolio) with 0.07%.

The fund reduced its Cisco Systems Inc. (CSCO) holding by 6.77% with an impact of -0.41% on the portfolio.

The company is engaged in designing, manufacturing and selling Internet Protocol (IP) based networking products and services related to the communications and information technology (IT) industry.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The ROE of 15.65% and ROA of 8.12% are outperforming 81% of the companies in the Global Communication Equipment industry. Financial strength has a rating of 6 out of 10. The cash-debt ratio of 2.06 is below the industry median of 2.61.

Dodge & Cox is the largest shareholder of the company among the gurus with 1.29% of outstanding shares, followed by PRIMECAP Management (Trades, Portfolio) with 0.54%, Grantham with 0.35%, Fisher with 0.31%, First Pacific Advisors (Trades, Portfolio) with 0.3% and the Yacktman Fund with 0.25%.

The fund reduced its Corning Inc. (GLW) stake by 42.31%. The transaction had an impact of -0.4% on the portfolio.

The company is engaged in manufacturing specialty glass and ceramics. Its segments are Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials and Life Sciences.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The ROE of 19.57% and ROA of 12.84% are outperforming 89% of the companies in the Global Electronic Components industry. Financial strength has a rating of 7 out of 10. The cash-debt ratio of 1.36 is below the industry median of 1.55.

The largest shareholder of the company among the gurus is Dodge & Cox with 3.37% of outstanding shares, followed by Hotchkis & Wiley with 3.04%, PRIMECAP Management with 2.02%, Charles Brandes (Trades, Portfolio) with 0.5% and Mairs and Power (Trades, Portfolio) with 0.28%.

Disclosure: I do not own any shares of any stocks mentioned in this article.

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This article first appeared on GuruFocus.