Donald Yacktman's Top Holdings Analysis: Strategic Positions in Energy, Tech, and Financials as of September 30, 2026

Donald Yacktman, the renowned investor and founder of Yacktman Asset Management, maintains a diverse portfolio with a strong emphasis on value stocks. As of September 30, 2026, his fund's holdings reveal a clear preference for established companies across various sectors, with the largest positions concentrated in Energy, Technology, and Financial Services.

His largest position, Canadian Natural Resources Limited (CNQ), represents a significant 8.53% allocation to his portfolio. This major stake in the energy sector underscores Yacktman's confidence in the company's prospects. The position saw a slight reduction in shares during the period, decreasing by 1,291,201 shares or -7.84%, indicating a measured approach to his largest holdings.

Berkshire Hathaway Inc. (BRK-B) holds the second-largest allocation at 6.97%. This massive position in the Financial Services sector is a cornerstone of Yacktman's investment strategy, reflecting his long-term faith in Warren Buffett's business model. The holding showed a modest increase in shares (+10,157) and a slight positive percentage change (+0.87%), suggesting continued confidence in this core holding.

Microsoft Corporation (MSFT) follows closely with a 6.2% allocation, making it another key Technology holding in Yacktman's portfolio. This position in the tech giant indicates an appreciation for its market dominance and growth potential. The number of shares held increased slightly (+3,245), with a minimal percentage change (+0.32%), showing a steady but cautious build-up.

In the mid-sized allocations, Yacktman holds a substantial position in Charles Schwab Corp (SCHW) at 4.73%. This Financial Services holding is significant and reflects Yacktman's comfort with large, stable institutions. The position experienced a decrease in shares (-46,318) and a negative percentage change (-1.13%), signaling a reduction in exposure to this particular stock.

His fourth-largest holding is Fox Corporation (FOX) at 3.75% allocation within the Communication Services sector. This position, while smaller than his top holdings, still represents significant exposure to the media company. Yacktman reduced his stake in FOX during the period, selling 68,147 shares (-1.21%), showing a dynamic approach to managing his positions.

Additionally, Yacktman maintains a notable position in Johnson & Johnson (JNJ) at 3.99% in the Healthcare sector, and Procter & Gamble (PG) at 3.43% in Consumer Defensive. These large, established consumer goods companies form a significant part of his defensive and value-oriented portfolio. Other significant holdings include Reliance, Inc. (RS) in Basic Materials and U-Haul (UHAL-B) in Industrials, both holding allocations above 3%.

Yacktman's portfolio, as highlighted by these top holdings, demonstrates a blend of deep convictions in large-cap value stocks and strategic adjustments across his positions. The data points provided, including the share changes, offer insight into the active management style employed by this successful investor.