N-30B-2 1 analysis.txt FUND PORTFOLIO ANALYSIS MARKET VALUE CHANGE REPORT BY CATEGORY AS OF 12/31/2003 YACKTMAN - YACKTMAN FUND (THE) ALL MONEY VALUES AND PRICES ARE CONVERTED TO BASE CURRENCY
% OF NET QTY OR PRINCIPAL DESCRIPTION CURRENT VALUE ASSETS COM. STOCKS DOMESTIC ==================== 100,000.000 Altria Group, Inc. 5,442,000.00 1.68 25,000.000 American Express Co. 1,205,750.00 0.37 1,030,000.000 Americredit Corp., 16,407,900.00 5.05 260,000.000 Apogent Technologies, Inc. 5,990,400.00 1.85 30,000.000 Bandag, Inc., Class A 1,212,000.00 0.37 40,000.000 Blair Corporation 973,600.00 0.30 90,000.000 Block H&R, Inc. 4,983,300.00 1.54 380,000.000 Bristol-Myers Squibb Co. 10,868,000.00 3.35 260,000.000 Clorox Co., (The) 12,625,600.00 3.89 150,000.000 Coca-Cola Company 7,612,500.00 2.35 350,000.000 Electronic Data Systems Corp. 8,589,000.00 2.65 70,000.000 Fannie Mae 5,254,200.00 1.62 130,000.000 First Data Corp. 5,341,700.00 1.65 350,000.000 First Health Group Corp. 6,811,000.00 2.10 100,000.000 Freddie Mac 5,832,000.00 1.80 380,000.000 Friedman's, Inc. 2,549,800.00 0.79 300,000.000 Gemstar-TV Guide International, Inc. 1,515,000.00 0.47 480,000.000 Interpublic Group Cos., Inc. 7,488,000.00 2.31 180,000.000 Interstate Bakeries Corporation 2,561,400.00 0.79 40,000.000 Johnson & Johnson 2,066,400.00 0.64 700,000.000 Kraft Foods Inc. 22,554,000.00 6.95 390,000.000 Lancaster Colony Corp. 17,612,400.00 5.43 1,750,000.000 Liberty Media Corp 20,807,500.00 6.41 40,000.000 Lubrizol Corp., The 1,300,800.00 0.40 40,000.000 MBIA, Inc. 2,369,200.00 0.73 50,000.000 MGIC Investment Corp. 2,847,000.00 0.88 100,000.000 Microsoft Corp. 2,754,000.00 0.85 140,000.000 NICOR, Inc. 4,765,600.00 1.47 39,200.000 National Beverage Corp. 638,960.00 0.20 90,000.000 Pepsico, Inc. 4,195,800.00 1.29 100,000.000 Pfizer, Inc. 3,533,000.00 1.09 30,000.000 Russ Berrie & Co., Inc. 1,017,000.00 0.31 90,000.000 Saucony, Inc., Class B 1,559,700.00 0.48 170,000.000 Tupperware Corp. 2,947,800.00 0.91 150,000.000 US Bancorp 4,467,000.00 1.38 40,000.000 Washington Mutual, Inc. 1,604,800.00 0.49 ================ ============================ 8,664,200.000 Total for Category: COM. STOCKS DOMESTIC 210,304,110.00 64.79 COM. STOCKS FOREIGN =================== 200,000.000 Cadbury Schweppes Spons ADR 5,978,000.00 1.84 265,000.000 Henkel KGaA Limited Partnership 19,483,913.00 6.00 810,000.000 Tyco International Ltd. 21,465,000.00 6.61 65,000.000 Unilever N V NY Shares 4,218,500.00 1.30 ================ ============================ 1,340,000.000 Total for Category: COM. STOCKS FOREIGN 51,145,413.00 15.76 COMMERCIAL PAPER ================ 16,000,000.000 AMERICAN EXPRESS CP 16,000,000.00 4.93 1.02% - 01/06/2004 14,700,000.000 Dresdner Disc CP 14,698,530.00 4.53 0.90%, 01/05/04 ================ ============================ 30,700,000.000 Total for Category: COMMERCIAL PAPER 30,698,530.00 9.46 CORP. BONDS DOMESTIC ==================== 15,575,000.000 Fleming Cos. Inc 3,504,375.00 1.08 10.125% due 4-1-08 16,175,000.000 Fleming Cos. Inc 3,639,375.00 1.12 9.25% 06/15/10 ================ ============================ 31,750,000.000 Total for Category: CORP. BONDS DOMESTIC 7,143,750.00 2.20 DEMAND NOTES ============ 1,021,075.640 US BANK DN 1,021,075.64 0.31 ================ ============================ 1,021,075.640 Total for Category: DEMAND NOTES 1,021,075.64 0.31 GOVERNMENT AGENCY ================= 14,500,000.000 FHLB Discount Note 14,499,818.75 4.47 0.50% 01/02/04 ================ ============================ 14,500,000.000 Total for Category: GOVERNMENT AGENCY 14,499,818.75 4.47 REAL ESTATE INV TRST ==================== 400,000.000 Trizec Properties, Inc. 6,160,000.00 1.90 ================ ============================ 400,000.000 Total for Category: REAL ESTATE INV TRST 6,160,000.00 1.90 88,375,275.640 TOTAL Portfolio 320,972,697.39 98.88 ================ ============================
FUND PORTFOLIO ANALYSIS MARKET VALUE CHANGE REPORT BY CATEGORY AS OF 12/31/2003 YFOC - YACKTMAN FOCUSED FUND (THE) ALL MONEY VALUES AND PRICES ARE CONVERTED TO BASE CURRENCY
% OF NET QTY OR PRINCIPAL DESCRIPTION CURRENT VALUE ASSETS COM. STOCKS DOMESTIC ==================== 40,000.000 Altria Group, Inc. 2,176,800.00 1.72 460,000.000 Americredit Corp., 7,327,800.00 5.78 120,000.000 Apogent Technologies, Inc. 2,764,800.00 2.18 35,000.000 Block H&R, Inc. 1,937,950.00 1.53 140,000.000 Bristol-Myers Squibb Co. 4,004,000.00 3.16 100,000.000 Clorox Co., (The) 4,856,000.00 3.83 80,000.000 Coca-Cola Company 4,060,000.00 3.20 110,000.000 Electronic Data Systems Corp. 2,699,400.00 2.13 150,000.000 First Health Group Corp. 2,919,000.00 2.30 85,000.000 Freddie Mac 4,957,200.00 3.91 230,000.000 Friedman's, Inc. 1,543,300.00 1.22 193,100.000 Interpublic Group Cos., Inc. 3,012,360.00 2.38 110,000.000 Interstate Bakeries Corporation 1,565,300.00 1.23 300,000.000 Kraft Foods Inc. 9,666,000.00 7.62 120,000.000 Lancaster Colony Corp. 5,419,200.00 4.27 670,000.000 Liberty Media Corp. 7,966,300.00 6.28 20,000.000 MBIA, Inc. 1,184,600.00 0.93 30,000.000 MGIC Investment Corp. 1,708,200.00 1.35 35,000.000 Saucony, Inc., Class B 606,550.00 0.48 =============== =========================== 3,028,100.000 Total for Category: COM. STOCKS DOMESTIC 70,374,760.00 55.49 COM. STOCKS FOREIGN =================== 85,000.000 Henkel KGaA Limited Partnership 6,249,557.00 4.93 360,000.000 Tyco International Ltd. 9,540,000.00 7.52 40,000.000 Unilever N V NY Shares 2,596,000.00 2.05 =============== =========================== 485,000.000 Total for Category: COM. STOCKS FOREIGN 18,385,557.00 14.50 CONV. PREFERRED =============== 0.004 Franklin Covey Preferred Stock 0.28 0.00 ================ ========================== 0.004 Total for Category: CONV. PREFERRED 0.28 0.00 COMMERCIAL PAPER ================ 6,200,000.000 AMERICAN EXPRESS CP 6,200,000.00 4.89 1.02% - 01/06/2004 6,200,000.000 GALAXY FUNDING, INC. 6,200,000.00 4.89 0.80% - 01/2/04 6,200,000.000 GE CAPITAL DISC CP 6,199,138.88 4.89 1.00% - 01/06/2004 6,200,000.000 San Paolo Disc CP 6,199,138.88 4.89 1.00%-01/06/2004 =============== =========================== 24,800,000.000 Total for Category: COMMERCIAL PAPER 4,798,277.76 19.55 CORP. BONDS DOMESTIC ==================== 11,000,000.000 Fleming Cos. Inc 2,475,000.00 1.95 10.125% due 4-1-08 =============== ========================== 11,000,000.000 Total for Category: CORP. BONDS DOMESTIC 2,475,000.00 1.95 DEMAND NOTES ============ 1,411,217.910 US BANK DN 1,411,217.91 1.11 =============== ========================= 1,411,217.910 Total for Category: DEMAND NOTES 1,411,217.91 1.11 GOVERNMENT AGENCY ================= 6,200,000.000 FHLB Discount Note 6,199,922.50 4.89 0.50% 01/02/04 =============== ========================= 6,200,000.000 Total for Category: GOVERNMENT AGENCY 6,199,922.50 4.89 PUT OPTION ========== 250.000 Omnicom Group 392,500.00 0.31 Jan 05 100 PUT =============== ======================== 250.000 Total for Category: PUT OPTION 392,500.00 0.31 REAL ESTATE INV TRST ==================== 150,000.000 Trizec Properties, Inc. 2,310,000.00 1.82 ================ =========================== 150,000.000 Total for Category: REAL ESTATE INV TRST 2,310,000.00 1.82 47,074,567.914 TOTAL Portfolio 126,347,235.45 99.63 =============== ===========================