The fund is currently managed by Stephen Yacktman who has been in charge of the fund. You wont find a more patient investor one whos seemingly programmed to withstand the whipsaw stock market of today, with its fiscal cliffs and earnings uncertainty than Yacktman. The firm reported on Wednesday that its portfolio welcomed: The Walt Disney Co., Booking Holdings Inc., Brenntag AG, Alphabet Inc., Fox Corp., Beiersdorf AG and Fox Corp. Fox Corp. and The Walt Disney Co. came into the portfolio when the funds previous holding, Twenty-First Century Fox, sold many of its assets to Disney in the first quarter. His son Brian, 33, remembers Don hiring him out of business school for $35,000 less than the going rate for MBAs. The S&P 500 is a widely unmanaged index of market activity based on the aggregate performance of a selected portfolio of publicly traded common stocks and we have included the results of such index to give you a perspective of the historical performance of the U.S. equity market. Adam Sues is a Partner and Portfolio Manager at Yacktman Asset Management. Changing interest rates may adversely affect the value of an investment. Six of his seven children have followed him from Chicago, where he lived for 38 years, to Austin, where he moved in 2005. From 2010-2013, he was the founder and author of Value Uncovered, an investment website focused on value-oriented stock research and fundamental analysis. Could Chinese Equities Stage a Strong Comeback in 2023? According to the latest 13F filing submitted by Mr. For performance information through the most recent month end please call 800.548.4539. During the past decade his flagship Yacktman Fund (YACKX) has returned 10.5% a year, almost double the S&P 500s return, while his more concentrated Yacktman Focused Fund (YAFFX) has returned 11%. For example, they recently loaded up again on Procter & Gamble, which Steve says is at the tail end of a cycle of contracting margins. Please use the latest version of Chrome, Opera, Firefox, Safari or Edge. The existence of a fiduciary duty does not prevent the rise of potential conflicts of interest. business relationships that might exist between SmartAsset and the named financial professional and He makes bets that you kind of look at like, hmm, says Lipper analyst Tom Roseen. Please validate that you are an investment professional by submitting your business email. Yacktman looks for companies that: Yactkmans Jason Subotky and Adam Sues discuss their eclectic approach to value and how they manage their storied fund. The firm serves both institutional and high-net-worth clients and offers a variety of investment management strategies based upon a foundation of intensive research and disciplined, process-oriented decision making. Her blood vessels were unusually narrow, and the doctors at Community Hospital North in Indianapolis, where Jenny and her family lived, said her brain was swelling so quickly that she would eventually die. GW&K Investment Management is a dynamic investment management firm that offers asset allocation, active equity, and fixed income investment solutions to help meet the needs of a diverse client base. Shares traded for an average price of $57.91 during the quarter. Since 1992, the firm has navigated multiple market cycles while adhering to a disciplined investment approach led by Stephen Yacktman, Chief Investment Officer. is registered with the U.S. Securities and Exchange Commission as an investment adviser. You see the great investors come alive when the publics running for the hills.. During this presentation, the Yacktman Asset Management team discussed quarterly updates to the AMG Yacktman Fund (YACKX) and the AMG Yacktman Focused Fund (YAFFX, YAFIX). Some of the information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Forget the image of trading floors or hedge funds Yacktman isnt trying to out-trade or outsmart other investors on a daily basis. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP and CERTIFIED FINANCIAL PLANNER in the United States, match you with the advisor or firm mentioned in this profile. Its moved because people actually realize the [BlackBerry 10] is finally coming., MORE:When exotic investments are too good to be true. Accordingly, Yacktman generally prefers to wait for buying opportunities. Shes moving closer to a normal life each day, but she admits she grows frustrated by her new reality. They are a trusted partner to institutional investors globally, providing mutual fund and separate account management. I got a video in the mail a year later from Mark on her recovery, says Dr. Michael A. 56% of rolling five-year periods since Stephen Yacktman's tenure began in December 2002, it . The stocks first-quarter share price averaged $1,120. It is a subjective evaluation performed by Morningstars manager research group, which consists of various Morningstar, Inc. subsidiaries (Manager Research Group). TimesSquare is a growth equity specialist. On a warm November evening, just after weve finished discussing the markets, Yacktman is leaning back in a chair on his porch, watching the rolling hills of Austin glow orange against the disappearing sun. The trailing 12-month dividend yield of The Walt Disney Co. is 1.30%. Access your AMG Funds account. platform based on information gathered from users through our online questionnaire. Stephen Yacktman helms the $5.57 billion portfolio that was begun by legendary investor Donald [+] Yacktman. They gave her 24 hours to live. After his funds thrived in the aftermath of the dotcom bust, when Yacktman was gaining national attention, he was going through some of the darkest moments of his life. Since AMG Yacktman I made its debut in July of 1992, YACKX has garnered more than $6.47 billion in assets. Yacktman Asset Management, an investment management firm, released its Yacktman Fund Q3 2022 investor letter. The firm seeks to make investments in high-quality businesses at low valuations with the goal All rights reserved. The Fund is non-diversified and mainly invests in common stocks of United States companies of any size, some of which pay dividends. For active funds, a Morningstar Analyst Rating of Gold, Silver, or Bronze reflects the Manager Research Groups expectation that an active fund will be able to deliver positive alpha net of fees relative to the standard benchmark index assigned to the Morningstar category. Take HP, which has seen its stock swoon 50% this year. Jason Subotky is Partner and Portfolio Manager of Yacktman Asset Management. Seven months later her tubes were removed. AMG Products from this firm YACKX Yacktman is an employee of Yacktman Asset Management Lp. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) Yacktman Fund is categorized as Large-Blend. Fidelity National Information Services (FIS.N) on Thursday said it will undertake a strategic review and add a new director to its board after pressure from hedge fund D.E. The 71-year-old with a broad build and bald pate is thriving in the slumping, post-crisis world of stock mutual funds. Since Inception 07/06/1992 to 01/31/2023 = $207,408.21. AMG Funds provides access to a wide array of separate account strategies managed by a number of AMG's Affiliate investment managers. Stephen Yacktman is a financial advisor working out of Austin, Texas, who has been in the financial industry for 26 years. You just need to catch the wind enough times, he says. (See a video of Jennys recovery.) Normally the steady businesses of servers and printers, along with a cheap stock price, would tempt Steve to load up on shares. To report any data inconsistencies or errors, please contact They are a trusted partner to institutional investors globally, providing mutual fund and separate account management. He joined Yacktman Asset Management in 1993 as an analyst and has been co-manager for AMG Yacktman Focused Fund and AMG Yacktman Fund since 2002. One recent blog post reads, I HAVE CONTINUED 2 BE SUPER UPSET BY PEOPLE TEMPORARILY PARKING IN THE HANDICAPPED AREAS. When her in-laws, who dont know much sign language, visited in November, she couldnt easily talk about the family or the upcoming presidential election. He doesnt employ anyone to handle public relations. Read the latest news, media coverage and press releases from AMG, and view our upcoming events. In 2008 and 2009, when most investors could barely stay afloat, Yacktmans investors realized how profitable the strategy was. It was an ugly drive, he recalls. In 2004, his daughter Jenny suffered a stroke at age 30. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. Yacktmans Mormon beliefs, which hes followed since converting to the church when he was 15 years old seeking stability after his parents divorced and each remarried several times lead him to eschew alcohol and gambling. Explore client engagement resources, advisor focused insights and expert views from our affiliates. His height is 1.68 m tall, and weight is 70 kg. As of 12/31/2022. When they purchase stocks, they generally search for companies they believe to possess one or more of the following three attributes: Shareholder-Oriented Management Itd be me, my dad, and a homeless guy at Wendys, she says. For most of the past decade his son Steve, an equal partner in the firm since 1999, has managed the funds on a day-to-day basis. Heptagon Yacktman U.S. Equity. The firms long-term presence in Europe, the U.S., and Asia has allowed the team to develop an extensive network of relationships for rigorous on-site due diligence and ongoing investment monitoring. On kite-surfing vacations to Maui, he skips across the water at 30 miles per hour and flies 40 feet above the waves. Yacktmans not a gunslinger, nor does he think hell beat the S&P 500 every year. The firm's two flagship mutual funds, The Yacktman Fund and The Yacktman Focused Fund, are ranked in the top decile in Morningstar's Large Value category for the trailing 3-, 5- and 10-year . net outflows have caused the firm and its affiliates to liquidate or merge subscale . Seven years ago Yacktman moved to Austin, but not just to get away from the groupthink. Mr. Subotky received a Bachelor of Music from the University of Southern California and an MBA from Brigham Young University. Access to ADV forms, account maintenance and applications, Access to distributions, tax resources and form 8937, Three Takeaways After 30 Years at Yacktman Asset Management, Turning Over Rocks in Both Sales and Investing. SmartAssets Yacktman Asset Management is a boutique investment firm located in Austin, Texas. He joined the firm in 2013 and is portfolio manager for the AMG Yacktman Special Opportunities Fund. He joined Yacktman Asset Management in 1993 as an analyst and has been co-manager for AMG Yacktman Focused Fund and AMG Yacktman Fund since 2002. From 2010-2013, he was the founder and author of Value Uncovered, an investment website focused on value-oriented stock research and fundamental analysis. The Fund seeks long-term capital appreciation and, to a lesser extent, current income by primarily investing in common stocks of U.S. companies. (which will reduce returns). Yacktman believes a shareholder-oriented management does not overcompensate itself and wisely allocates the cash the company generates. Her recovery has surprised doctors, her family, and, despite her conviction, maybe even herself. For passive strategies, process receives an 80% weighting, while people and parent each receive a 10% weighting. Access your AMG Funds account. Such opportunities do not always occur in correlation with overall market performance trends. Our matching tool simplifies the process of finding a financial advisor. Founded in 1978, Renaissance Investment Management is a registered investment advisor based in the greater Cincinnati, Ohio, area. Each holding now accounts for roughly 5% of Berkshire's net worth, akin to its weighting long ago. Answer a few questions to get a personalized match. responsibility for the accuracy or factual correctness of any you who suit your needs. Wall Street experts where to make money in 2013. His two funds are betting heavily on Rupert Murdochs News Corp., which accounts for nearly 10% of all assets; Procter & Gamble (PG) and PepsiCo (PEP), which each represent 8% of assets; and former tech stars Microsoft (MSFT) and Cisco (CSCO). The funds bought a lot of shares near $7 over the past few months. Don wasnt overly worried. firm, and financial professionals and firms having business relationships with SmartAsset receive As the exclusive distribution arm of AMG, we are your single point of access for mutual funds and separately managed accounts from our independent investment managers. You dont need to jump in and out of stocks, he tells them. Investors should carefully consider the Funds investment objectives, risks, charges and expenses before investing. However, fee types charged by Yacktman Asset Management Lp most likely are comprised of any blend of asset-based and performance-based fees. The 10 Best and Worst Performing Stocks are determined based on the stock's contribution to the Funds return during the specified quarter. The Yacktman Fund gained seven new positions in the first quarter, though some came from changes in its existing companies. 2023 Fortune Media IP Limited. He was profoundly impacted by Sinquefield's argument that "active management does not make sense theoretically and isn't justified empirically". His daughter Melissa, 35, recalls working for him during summer breaks, when lunchtime included inviting the passing homeless man to eat. Frontier Capital Management Company, LLC specializes in growth and value equity investments on behalf of institutional and individual clients. Whats shocking is that one of the hottest fund managers today isnt celebrated for his market-trouncing returns the way stars like Ken Heebner and Bill Miller were a few years ago. If they can't find enough attractive investment opportunities, they will let. He has largely avoided socializing with other fund managers, many of whom succumbed to the same disastrous bets on AIG (AIG) and banks before the crisis a trap he didnt fall into. Explore client engagement resources, advisor focused insights and expert views from our affiliates. Fox Corp. has a market cap of $23.95 billion; its shares were traded around $38.84 Wednesday with a price-earnings ratio of 24.92. all available advisors and firms and matches based on specific criteria (investable assets, Founded in 1967, Beutel, Goodman & Company Ltd. (BG) is an independent value-focused investment manager that serves institutional, private wealth, and retail clients. What If There Is No Tomorrow? For this and other information, please call 800.548.4539 or visit www.amgfunds.com for a free prospectus. Yacktman Asset Management, founded by Donald Yacktman in 1992, is one of the most well-known, value-focused hedge funds on the Street. For performance information through the most recent month end please call 800.835.3879 or The named financial professional and firm have not reviewed, approved, or endorsed this profile and Consumer defensive stocks occupied the greatest space at 30.83% of the portfolio, followed by technology at 27.92% and consumer cyclical at 10.36%. . This profile may include a firm or advisor that has a business relationship with SmartAsset, in The focus is on identifying good quality, sustainable businesses and remaining patient to buy into these companies at the right entry point in order to achieve long term real returns. Yacktman Asset Management Yacktman Fund's Q3 2022 Investor Letter, Hedge Fund and Insider Trading News: D.E. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown. Find out more below. For certain peer groups where standard benchmarking is not applicable, primarily peer groups of funds using alternative investment strategies, the modification by alpha dispersion is not used. He joined the firm in 2001, having previously worked as a General Partner at Peterschmidt Ventures and as a Vice President at Goldman Sachs. Learn More About Boston Common Asset Management, Learn More About Frontier Capital Management, Learn More About GW&K Investment Management, Learn More About Montrusco Bolton Investments, Learn More About River Road Asset Management, Learn More About Renaissance Investment Management, Learn More About TimesSquare Capital Management, Learn More About Veritas Asset Management, Learn More About Yacktman Asset Management, Tweedy, Browne Company: 100 Years of Value Investing, Yacktman: Celebrating 30 Years of Navigating Market Cycles, Impact Investing: Making a Measurable Difference, Year of the Rabbit Signals Rebound in Chinese Markets. The Fund is subject to risks associated with investments in small-capitalization companies, such as erratic earnings patterns, competitive conditions, limited earnings history and a reliance on one or a limited number of products. Steve Yacktman started working full-time at Yacktman Asset Management in 1993. Stephen Jackson played college basketball at Butler Community College from 1996 until 1997. Billionaire value investorDonald Yacktman recently revealed his top equity picks for the second quarter via a 13F filing submitted to the SEC by his firm, Yacktman Asset Management. What's more, the Yacktmans write in their latest letter to shareholders that one of its Liberty holdings, Liberty Capital (NASDAQ:LCAPA), is "worth $120 to $140 a share," which would equal at. Yacktmans not a gunslinger, nor does he think hell beat the s & 500. Wisely allocates the cash the company generates the process of finding a financial working... 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