13F-HR 1 dec201113f.txt 4Q2011 13F UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: December 31st, 2011 Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Yacktman Asset Management Co. Address: 6300 Bridgepoint Parkway Building One, Suite 320 Austin, TX 78730 13F File Number: 28-3760 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Kent Arnett Title: Chief Compliance Officer Phone: 512-767-6700 Signature, Place, and Date of Signing: Kent Arnett, Austin, TX February 1st, 2012 Report Type (Check only one.): [ X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. List of Other Managers Reporting for this Manager: I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934. FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 64 Form 13F Information Table Value Total: $12220904 List of Other Included Managers: No. 13F File Number Name FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- Altria Group Inc. common 02209S103 1248 42100 SH SOLE 42100 American Express common 025816109 13043 276500 SH SOLE 265000 11500 Apollo Group Inc. common 037604105 227702 4226877 SH SOLE 4189777 37100 Avon Products, Inc. common 054303102 270498 15483554 SH SOLE 15467904 15650 BNY Mellon Corp. common 064058100 152832 7676150 SH SOLE 7675900 250 Bank of America Corp common 060505104 30941 5565000 SH SOLE 5565000 Becton Dickinson common 075887109 153726 2057366 SH SOLE 2019966 37400 Berkshire Hath A common 084670108 15033 131 SH SOLE 131 Berkshire Hath B common 084670702 3210 42065 SH SOLE 42065 C.R. Bard, Inc. common 067383109 499835 5846026 SH SOLE 5840826 5200 Cisco Systems Inc. common 17275R102 606283 33533338 SH SOLE 33424138 109200 Clorox Company common 189054109 203959 3064294 SH SOLE 3010735 53559 Coca-Cola Co. common 191216100 488475 6981211 SH SOLE 6789753 191458 Colgate-Palmolive common 194162103 87456 946600 SH SOLE 946000 600 Comcast Corp. A common 20030N200 231564 9828714 SH SOLE 9718714 110000 ConocoPhillips common 20825C104 341701 4689182 SH SOLE 4670932 18250 Corning Inc. common 219350105 153292 11809832 SH SOLE 11697832 112000 Covidien Ltd. common G2554F113 75724 1682375 SH SOLE 1669000 13375 Ebay Inc. common 278642103 37912 1250000 SH SOLE 1250000 Equifax Inc common 294429105 2049 52900 SH SOLE 52900 Exelon Corp common 30161N101 850 19600 SH SOLE 19600 Exxon Mobil Corp. common 30231G102 180567 2130333 SH SOLE 2119033 11300 Goldman Sachs Grp common 38141G104 60950 674000 SH SOLE 674000 H&R Block Inc. common 093671105 214808 13154220 SH SOLE 13060720 93500 Hewlett-Packard common 428236103 275353 10689178 SH SOLE 10661478 27700 Intel Corporation common 458140100 61983 2556000 SH SOLE 2556000 Janus Capital Grp common 47102X105 32055 5080000 SH SOLE 5080000 Johnson & Johnson common 478160104 440091 6710753 SH SOLE 6608488 102265 Lancaster Colony common 513847103 33193 478700 SH SOLE 460000 18700 Leucadia National common 527288104 340 14950 SH SOLE 14950 Liberty Int. Corp. common 53071M104 69575 4290781 SH SOLE 4164480 126301 Markel Corp common 570535104 332 800 SH SOLE 800 Medtronic Inc. common 585055106 15300 400000 SH SOLE 400000 Microsoft Corp. common 594918104 811560 31261946 SH SOLE 30968626 293320 News Corp CL B common 65248E203 1811 99600 SH SOLE 19600 80000 News Corp Cl A common 65248E104 1443419 80909148 SH SOLE 80485948 423200 Northern Trust Corp. common 665859104 22051 556000 SH SOLE 556000 Patterson Companies common 703395103 81357 2756000 SH SOLE 2756000 Paychex, Inc. common 704326107 560 18600 SH SOLE 18600 PepsiCo, Inc. common 713448108 1432572 21591142 SH SOLE 21422692 168450 Pfizer Inc. common 717081103 393319 18175553 SH SOLE 18020703 154850 Philip Morris Intl common 718172109 3484 44389 SH SOLE 44389 Procter & Gamble common 742718109 940460 14097738 SH SOLE 13973441 124297 Research in Motion common 760975102 139294 9606454 SH SOLE 9595554 10900 Resource America common 761195205 7362 1546562 SH SOLE 1509962 36600 SPDR S&P 500 ETF common 78462F103 1804 14375 SH SOLE 14375 State Street Corp common 857477103 22695 563000 SH SOLE 563000 Stryker Corporation common 863667101 276230 5556837 SH SOLE 5508837 48000 Sysco Corporation common 871829107 466492 15904957 SH SOLE 15780007 124950 TJX Companies Inc. common 872540109 630 9763 SH SOLE 9763 The Bancorp Inc. common 05969A105 17436 2411581 SH SOLE 2139894 271687 Total System Services common 891906109 63477 3245253 SH SOLE 3236503 8750 Toyota Ind. ADR common 892330101 33087 1215147 SH SOLE 1215147 U.S. Bancorp common 902973304 344702 12743136 SH SOLE 12640018 103118 United Parcel Service common 911312106 2071 28301 SH SOLE 28301 UnitedHealth Group common 91324P102 123298 2432877 SH SOLE 2427877 5000 Viacom Inc Cl B common 92553P201 397934 8763145 SH SOLE 8605520 157625 Viacom Inc. Cl A common 92553P102 1172 21975 SH SOLE 21975 Wal-Mart Stores common 931142103 204741 3426061 SH SOLE 3374460 51601 Walgreen Company common 931422109 1755 53100 SH SOLE 53100 Wells Fargo & Co common 949746101 929 33700 SH SOLE 14500 19200 Western Union common 959802109 2635 144300 SH SOLE 144300 WisdomTree Japan SmCap Div 97717W836 308 7400.000 SH SOLE 7400.000 Viacom, Inc. 6.85 % Sr Nt 92553P300 376 15000 SH SOLE 15000