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All Star Investor: Donald Yacktman Reveals Top Picks

All day on Wednesday, CNBC spoke with “All Star Investors”, the very best stock pickers with returns that reflect their success.

On Halftime, five-star fund manager Don Yacktman, President Of Yacktman Asset Management, revealed some of his best ideas.

“This is a market in which investors should stay with high quality names," says Yacktman. "That’s where I think the best risk-adjusted forward returns are.” His favorite ways to play this theme are Procter Gamble, News Corp and Pepsi.

Also, Yacktman likes Microsoft. “We look very long-term. I would say the company is cheap and it will continue to grow.”

And he adds stay away from companies that have a lot of cyclicality. “Many are selling at high profit margins and I’m not sure that’s sustainable.”

Yacktman’s assets under management total more than $17 billion.






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Trader disclosure: On Apr 18, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Joe Terranova is long VRTS; Joe Terranova is long IBM; Joe Terranova is long MCD; Joe Terranova is long EMC; Joe Terranova is long GS; Joe Terranova is long JOY; Joe Terranova is long HPQ; Joe Terranova is long LQD; Steven Grasso is long ASTM; Steven Grasso is long AVAV; Steven Grasso is long BA; Steven Grasso is long D; Steven Grasso is long FRO; Steven Grasso is long LNG; Steven Grasso is long MHY; Steven Grasso is long NUAN; Steven Grasso is long MO; Steven Grasso is long PFE; Steven Grasso is long PRST; Steven Grasso is long S; Steven Grasso is long XLU; Steven Grasso is long ZAZA; Steven Weiss is long HAIN; Steven Weiss is long EUO; Steven Weiss is long TBT; Steven Weiss is long TBF; Steven Weiss is long ZCOM; Steven Weiss is long HPQ; Steven Weiss is long BRCM; Steven Weiss is long CSC; Steven Weiss is long HKNZ; Steven Weiss is long AAPL; Steven Weiss is long JPM; Steven Weiss is long SNDK; Steven Weiss is short X; Steven Weiss is short MT; Steven Weiss is short FXA; Steven Weiss is short ERIC

For Steven Grasso
Steven Grasso is long for STUART FRANKEL CUBA
Steven Grasso is long for STUART FRANKEL GERN
Steven Grasso is long for STUART FRANKEL HPQ
Steven Grasso is long for STUART FRANKEL HSPO
Steven Grasso is long for STUART FRANKEL MU
Steven Grasso is long for STUART FRANKEL NAT
Steven Grasso is long for STUART FRANKEL NYX
Steven Grasso is long for STUART FRANKEL P
Steven Grasso is long for STUART FRANKEL PRST
Steven Grasso is long for STUART FRANKEL VVUS
Steven Grasso is long for STUART FRANKEL XRX
Steven Grasso is long for STUART FRANKEL ZNGA
Steven Grasso is short for STUART FRANKEL AAPL
Steven Grasso is short for STUART FRANKEL QQQ

For Brian Kelly
Brian Kelly is long IWM
Brian Kelly is long TLT
Brian Kelly is long KRE
Brian Kelly is long AUSSIE $
Brian Kelly is long BUNDS
Brian Kelly is long CANADIAN $
Brian Kelly is short HYG

For Dennis Gartman
Nothing to disclose

For Donald Yacktman
Donald Yacktman is long PG
Donald Yacktman is long NWS
Donald Yacktman is long PEP
Donald Yacktman is long MSFT
Donald Yacktman is long SYY

For Joel Fishbein
All of the recommendations and views about the securities and companies in this report accurately reflect the personal views of the research analyst named on the cover of this report. No part of this research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed by the research analyst in this research report.

For Tristan Gerra
Robert W. Baird & Co. Incorporated makes a market in the securities of INTC

CNBC.com with wires.