iShares MSCI South Korea ETF Takes Center Stage

This article first appeared on GuruFocus.

Yacktman Asset Management (Trades, Portfolio) recently submitted its 13F filing for the fourth quarter of 2025, shedding light on its strategic investment decisions during this period. Based in Austin, Texas, Yacktman Asset Management (Trades, Portfolio) is renowned for its value equity investing approach. The firm emphasizes an objective, patient, and diligent investment strategy, aiming to achieve superior returns over a full market cycle. The firm is owned by its partners, including Chief Investment Officer Stephen Yacktman, and operates as an affiliate of Affiliated Managers Group, Inc. (AMG). Despite AMG’s equity interest, Yacktman maintains operational autonomy, focusing on investments that offer attractive returns relative to risk. The firm employs a generalist approach, with analysts responsible for the entire investment universe, and prioritizes companies with good business practices, shareholder-oriented management, and low purchase prices.

Yacktman Asset Management (Trades, Portfolio) added a total of two stocks to its portfolio. The most significant addition was the iShares MSCI South Korea ETF (EWY), with 1,144,611 shares, accounting for 1.56% of the portfolio and a total value of $111.28 million. The second largest addition was the State Street SPDR Bloomberg 1-3 Month T-Bill ETF (BIL), consisting of 167,893 shares, representing approximately 0.21% of the portfolio, with a total value of $15.34 million.

Yacktman Asset Management (Trades, Portfolio) also increased stakes in a total of eight stocks. The most notable increase was in SPDR S&P 500 ETF Trust (SPY), with an additional 27,624 shares, bringing the total to 32,091 shares. This adjustment represents a significant 618.4% increase in share count, a 0.27% impact on the current portfolio, and a total value of $21.88 million. The second largest increase was in Legacy Housing Corp (NASDAQ:LEGH), with an additional 115,675 shares, bringing the total to 175,675. This adjustment represents a significant 192.79% increase in share count, with a total value of $3.43 million.

Yacktman Asset Management (Trades, Portfolio) reduced its position in 50 stocks. The most significant changes include a reduction in Warner Bros. Discovery Inc (NASDAQ:WBD) by 5,555,477 shares, resulting in a -75.7% decrease in shares and a -1.49% impact on the portfolio. The stock traded at an average price of $23.44 during the quarter and has returned 21.76% over the past three months and -5.83% year-to-date. Additionally, the firm reduced its position in Canadian Natural Resources Ltd (NYSE:CNQ) by 2,133,091 shares, resulting in a -10.2% reduction in shares and a -0.94% impact on the portfolio. The stock traded at an average price of $32.43 during the quarter and has returned 18.75% over the past three months and 10.71% year-to-date.