This is not an offer to buy or sell any security or interest. Six of his seven children have followed him from Chicago, where he lived for 38 years, to Austin, where he moved in 2005. Don built this house for her so she could enjoy beautiful views while confined to a bed. Alphabet Inc. has a market cap of $861.15 billion; its shares were traded around $1,236.34 with a price-earnings ratio of 28.41 and price-sales ratio of 6.60. In 2008 and 2009, when most investors could barely stay afloat, Yacktmans investors realized how profitable the strategy was. As for the more controversial fare in his portfolio Hewlett-Packard (HPQ), RIM (RIMM), Apollo Group (APOL) Steve says they are just more value bets on the odds playing out in their favor. With her straight blond hair, striped shirt, and corduroy pants, she looks like an L.L. Such opportunities do not always occur in correlation with overall market performance trends. The firm seeks to make investments in high-quality businesses at low valuations with the goal From 2010-2013, he was the founder and author of Value Uncovered, an investment website focused on value-oriented stock research and fundamental analysis. Steve dismisses the bad press leveled at CEO Indra Nooyi and contends that PepsiCo is primed to come back with strong brands that can battle inflation. information posted to third party web sites. Profile content is produced by SmartAsset independently of any We asked Yacktman Fund co-portfolio managers to reflect on the firms success as they celebrate 30 years for both the firm and its flagship fund, the AMG Yacktman Fund (YACKX). CHIEF INVESTMENT OFFICER, PARTNER, AND PORTFOLIO MANAGER. AMG Funds does not endorse this web site, its sponsor, SmartAsset is not a client of the aforementioned . Yacktman believes this approach combines the best features of growth and value investing. AMG Funds takes no The stocks first-quarter share price averaged 43 euros. Yacktman Asset Management, managed by the well-respected Donald Yacktman, was founded in 1992. View your account balance and transaction history. Mr. Yacktman was a finalist for Morningstars Domestic-Stock Manager of the Year award in 2011. compiled from the SEC and which it authorizes the use of by individuals who successfully complete CFP Boards initial and ongoing certification requirements. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. Stephen Jackson played college basketball at Butler Community College from 1996 until 1997. The Fund seeks to generate equity-like rates of return over a full market cycle while managing the level of risk. This story is from the December 24, 2012 issue ofFortune. Hedge Fund Net Worth $10.04B Donald Yacktman manages more assets than 51% of other Hedge Fund Managers Average Return +25.50% Since Last Filing Last 12 Months 3 Years (Annualized) Portfolio Breakdown by Sector Portfolio Breakdown 19.09% Technology 17.75% Utilities 17.21% Consumer Goods 15.08% Financial 12.24% Services 6.24% Healthcare Related News Brian Yacktman and Elliott Savage: the Network . 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. The stock prices of individual companies can vary significantly over short periods of time, and such price movements are not always correlated with changes in company fundamental performance. Don, his wife, and almost their entire family are nearby. 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. He makes bets that you kind of look at like, hmm, says Lipper analyst Tom Roseen. But he knows that the conference room is necessary now that he doesnt want to be doing so many trips to Europe, and he understands Steve and Jasons desire for more modern offices even if he cant completely stomach it. 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. Could Chinese Equities Stage a Strong Comeback in 2023? This profile may include a firm or advisor that has a business relationship with SmartAsset, in As its assets have skyrocketed, so has client demand to meet the father-and-son duo. state: Please visit their SEC profile for more details. The fund gained 1,333,333 of Fox Corp. A-shares, occupying 0.88% of the portfolio. Analyst Ratings ultimately reflect the Manager Research Groups overall assessment, are overseen by an Analyst Rating Committee, and are continuously monitored and reevaluated at least every 14 months. Could Chinese Equities Stage a Strong Comeback in 2023? The firm strives to achieve solid risk-adjusted returns over time. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown. Prior to founding Yacktman Asset Management, Mr. Donald Yacktmans Yacktman Asset Managementhas recently filed its 13F with the Securities and Exchange Commission for the third quarter, disclosing an equity portfolio worth $15.24 billion. (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.) And many did. Effective June 30, 2020, the Yacktman Funds primary and secondary benchmarks were changed to the Russell 1000 Value Index becoming the primary benchmark and S&P 500 Index the secondary benchmark from the S&P 500 Index as the primary benchmark and the Russell 1000 Value Index as the secondary benchmark previously. You may opt-out by. For performance information through the most recent month end please call 800.835.3879 or Yacktman is an employee of Yacktman Asset Management Lp. His height is 1.68 m tall, and weight is 70 kg. Any securities discussed may no longer be held in an accounts portfolio. Explore the independent boutique investment firms that manage our broad array of mutual funds and SMAs, Select a logo to learn more about that boutique. you who suit your needs. GW&Ks founding principles of applying rigorous fundamental research, focusing on quality, and maintaining a long-term view still guide its investment process today. Yacktman Fund is categorized as Large-Blend. Based on the Jan. 3, 2023 closing price of $152.33, that makes the holding worth $1,007,731,955.49. He doesnt employ anyone to handle public relations. loss of principal. High-yield bonds (also known as junk bonds) may be subject to greater levels of interest rate, credit, and liquidity risk than investments in higher rated securities. Bean catalogue model. These securities are considered predominantly speculative with respect to the issuers continuing ability to make principal and interest payments. Founded in 1967, Beutel, Goodman & Company Ltd. (BG) is an independent value-focused investment manager that serves institutional, private wealth, and retail clients. Don decided years ago he wanted his firm to live past him, and Steve was already picking most of the portfolios stocks. The stocks first-quarter share price averaged $20. The level of the rating relates to the level of expected positive net alpha relative to Morningstar category peers for active funds. Brenntag AG had an annual average earnings growth of 3.80% over the past 10 years. Data Sources: BoNY, FactSet, Bloomberg and ICE Data Analytics. Returns for periods less than one year are not annualized. His explanation: No reason to waste a good bag., MORE: He thinks back to how close he was to losing his daughter. Their approach has been honed by a team who has worked together for more than two decades, resulting in a unifying investment philosophy of concentrated, long-term investing focused on intrinsic business value growth. Many of his books have been shown on the TV screens as "IT" and "The Shining". the site, or by any advertiser on the site. Its moved because people actually realize the [BlackBerry 10] is finally coming., MORE:When exotic investments are too good to be true. review the ongoing performance of any Adviser, participate in the management of any users account by Adam Sues is a Partner and Portfolio Manager at Yacktman Asset Management. 2023 Fortune Media IP Limited. Yacktman owns this 9,300 sqft home as well as the baseball diamond next door. Our matching tool simplifies the process of finding a financial advisor. 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. an Adviser or provide advice regarding specific investments. Founded in 2014, Jackson Square is an independent, majority employee-owned investment manager specializing in long-only, growth-oriented equity investing. Their approach has been honed by a team who has worked together for more than two decades, resulting in a unifying investment philosophy of concentrated, long-term investing focused on intrinsic business value growth. 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. Basic Info. business relationships that might exist between SmartAsset and the named financial professional and Explore commentary and perspectives from AMG and our boutique investment firms. The investment return and the principal value of an investment will fluctuate so that an investors shares, when redeemed, may be worth more or less than their original cost. Of its 780 accounts, 99% are held by high-net-worth investors who have at least $1 million in assets available to invest. View your account balance and transaction history. Itd be me, my dad, and a homeless guy at Wendys, she says. Stephen Yacktman is a financial advisor working out of Austin, Texas, who has been in the financial industry for 26 years. The Fund is subject to the risks associated with investments in debt securities, such as default risk and fluctuations in the perception of the debtors ability to pay its creditors. Talking for even two hours a day is exhausting having to think before taking a full breath and exhaling to form words with weak mouth muscles feels like the hardest workout she could imagine, she says. Brenntag AG has a market cap of 7.42 billion euros; its shares were traded around 48.00 euros with a price-earnings ratio of 16.05 and price-sales ratio of 0.58. She has financial resources, a loving family, and a young body. Explore client engagement resources, advisor focused insights, and expert views from our affiliates. The fund may invest up to 30% of its assets in foreign . The performance data shown represents past performance. Morningstar Rating is for the share class indicated only (see ticker); other share classes may have different performance characteristics. I got a video in the mail a year later from Mark on her recovery, says Dr. Michael A. The firm was founded upon a proprietary Absolute Value investment discipline. Fox Corp. has a market cap of $23.91 billion; its shares were traded around $38.21 with a price-earnings ratio of 24.86. The fund purchased 100,000 shares of Alphabet Inc., giving it 2.11% portfolio weight. There are no guarantees that working with an adviser will yield positive returns. AMG Funds provides access to a wide array of separate account strategies managed by a number of AMG's Affiliate investment managers. You see the great investors come alive when the publics running for the hills.. AMG Funds provides access to a wide array of separate account strategies managed by a number of AMG's Affiliate investment managers. With approximately $17 billionof assets under management, Yacktman is a highly-regarded investment manager specializing in large-cap equities through a unique, value-oriented approach. 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%. Huntsman Corporation (NYSE:HUN), Oracle Corporation (NYSE:ORCL), and Cisco Systems, Inc. Two months after the stroke, she returned home from the hospital. Such opportunities do not always occur in correlation with overall market performance trends. Seven years ago Yacktman moved to Austin, but not just to get away from the groupthink. According to the latest 13F filing submitted by Mr. His record since the middle of the financial crisis is even more impressive. Since 1992, the firm has navigated multiple market cycles while adhering to a disciplined investment approach led by Stephen Yacktman, Chief Investment Officer. Click here to get matched with an advisor today. status, investment goals and advisor preferences, which are all important topics to consider when The Morningstar Analyst RatingTM is not a credit or risk rating. Stephen Yacktman helms the $5.57 billion portfolio that was begun by legendary investor Donald [+] Yacktman. Tracing its history back to 1946, Montrusco Bolton Investments Inc. is a private investment management firm. Shes moving closer to a normal life each day, but she admits she grows frustrated by her new reality. The fund gained 2,040,441 shares of The Walt Disney Co., which occupied 4.07% of the portfolio. Assume, for a moment, I had made a similarly-sized investment mistake in the 1990s, one that flat-lined and simply retained its $1.3 billion value in 2022. 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. Don is affable and warms to interviewers, while Steve can sometimes come across as brash (he once told a University of Texas audience that he had never made an investing mistake). Meeting Yacktman is a lesson in humility he acts more like a church bishop (which he was, incidentally, at his Mormon congregation) than a multibillion-dollar investing star. The stocks fourth-quarter share price averaged $1,785. 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. The doctor told Mark she had two choices: have her feeding tube removed and eventually die, or live with an uncertain future. Here's an update on the fund's moves in Q3 2021. Mr. Yacktman was a finalist for Morningstar's Domestic-Stock Manager of the Year award in 2011. The level of the rating relates to the level of expected net alpha relative to Morningstar category peers for passive funds. Cognizant Technology Solutions Corp, Class A, W&T Offshore Inc Fixed 9.75% Nov 2023 144A, Weatherford International Ltd Fixed 11.00% Dec 2024 144A, Provides investors exposure to a diversified fund seeking to achieve strong risk-adjusted results over a full market cycle, Subadvised by a seasoned investment team with a long track record and reputation for a disciplined investment approach, Investors who seek a manager who focuses on risk and returns will appreciate this active and thoughtful value-oriented approach, High market share in principal product and/or service lines, Relatively low capital requirements allowing a business to generate cash while growing, Short customer repurchase cycles and long product cycles, Reinvest in the business and still have excess cash. 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. Investment Strategy. This isnt Warren Buffett holding court at Piccolo Petes, but its close. Billionaire investing legend Donald Yacktmanis increasingly pulling money out ofU.S. equities. Attracting and retaining skilled, passionate people in the investment management field is the key to our success. It should not be assumed that any of the securities transactions discussed were or will prove to be profitable, or that the investment recommendations we make in the future will be profitable. For more detailed information about Morningstars Analyst Rating, including its methodology, please go to https://shareholders.morningstar.com/investor-relations/governance/ ComplianceDisclosure/default.aspx. A copy of the same can bedownloaded here. When they purchase stocks, they generally search for companies they believe to possess one or more of the following three attributes: Shareholder-Oriented Management He joined the firm in 2013 and is portfolio manager for the AMG Yacktman Special Opportunities Fund. Comanagers Stephen Yacktman and Jason Subotky are not strict value investors, but they are very valuation-conscious. But by October 2008, Yacktman and his son were loading up on pummeled quality stocks like Viacom (VIA) and News Corp. (NWSA) that, they reasoned, could double from their lows. The Firm believes diversified portfolios of the stocks of companies meeting its quality-growth criteria, purchased at reasonable prices, offer superior risk-adjusted returns over the long term. The 71-year-old with a broad build and bald pate is thriving in the slumping, post-crisis world of stock mutual funds. platform based on information gathered from users through our online questionnaire. Accordingly, Yacktman generally prefers to wait for buying opportunities. Shaw, John Paulson, Carl Icahn, Yacktman Asset Management, Evolution Capital Management, COMSCORE, Inc. (SCOR), SoFi Technologies, Inc. (SOFI), and More, Donald Yacktmans Latest Portfolio: Top 10 Stock Picks, 10 Stocks Donald Yacktman is Selling in 2022, 10 Dividend Stocks to Buy According to Donald Yacktman's Hedge Fund, Billionaire Donald Yacktman's Hedge Fund Trims Exposure to Consumer Staples, Energy, Investing Legend Donald Yacktman Trims Stake in Major Holdings Going Into Q2, Value Investing Guru Donald Yacktman Propelled to Strong Q1 by Top Picks, Donald Yacktman's Top Dividend Stock Picks for 2016, Value Investing Guru Donald Yacktman's Favorite Stock Picks For Q4, Here Are Yacktman Asset Managements Top Tech Picks, Yacktman Asset Management Keeps Betting on Consumer Stocks, How to Best Use Insider Monkey to Increase Your Returns, 6 Things You Didn't Know About Hedge Funds. Reliance on in-depth, research-driven strategies has historically produced strong results across products and market cycles. firm, and financial professionals and firms having business relationships with SmartAsset receive Jenny talks with a kind of improvised American Sign Language because she is still without use of her left hand. Stephen A. Yacktman CHIEF INVESTMENT OFFICER, PARTNER, AND PORTFOLIO MANAGER See Our Approach Read Bio Jason S. Subotky PARTNER AND PORTFOLIO MANAGER See Our Approach Read Bio Adam P. Sues PARTNER AND PORTFOLIO MANAGER See Our Approach Read Bio Performance Portfolio & Holdings Investment Approach About He then moved himself and his entire business there too. 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). advisors. Her husband has devoted his life to her recovery, spending just 10 hours a week working outside the house at his counseling practice. Find out more below. From 2010-2013, he was the founder and author of Value Uncovered, an investment website focused on value-oriented stock research and fundamental analysis. 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%. They consider quantitative and qualitative factors in their research. Grandeur Peak Global Opportunities Instl* 10.2 Morningstar grouped it with foreign/global CATEGORY AVERAGE 4.8% CATEGORY AVERAGE 7.9% stock funds in 2017. The firm strives to achieve solid risk-adjusted returns over time. Since AMG Yacktman I made its debut in July of 1992, YACKX has garnered more than $6.47 billion in assets. The Ranking may reflect the waiver of all or a portion of the funds fees. information posted to third party web sites. For passive strategies, process receives an 80% weighting, while people and parent each receive a 10% weighting. Booking Holdings Inc. has a market cap of $82.81 billion; its shares were traded around $1,839.79 Wednesday with a price-earnings ratio of 22.08 and price-sales ratio of 6.08. ("Adviser(s)") with a regulatory body in the United States that have elected to participate in our matching With her family waiting in a reception area, Mark entered her room three times to ask what she wanted to do: one blink for life, two blinks for death. Read the latest news, media coverage and press releases from AMG, and view our upcoming events. This approach was developed by River Roads founders and occupies a distinct niche within value investing styles. 56% of rolling five-year periods since Stephen Yacktman's tenure began in December 2002, it . The funds are bound to have losers each year, just like the blackjack player who loses before he eventually wins. The fund gained 2,693,333 shares of Fox Corp., occupying 1.73% of the portfolio. Yacktman US Equity Fund Russell 1000 Value NR USD S&P 500 Net TR USD . Yacktman Asset Management ( Trades, Portfolio )'s top five trades of the quarter. The Russell 1000 Value and the S&P 500 Index are provided for illustrative purposes only, are unmanaged, reflect reinvestment of income and dividends, and do not reflect the impact of advisory fees. AMG Products from this firm YACKX He joined the firm in 2001, having previously worked as a General Partner at Peterschmidt Ventures and as a Vice President at Goldman Sachs. Download or order product information and regulatory documents. Founded in 1982, Pantheon is a leading global private equity fund investor, managing private equity funds and separate account programs for investors around the world. Chief Investment Officer Stephen Yacktman leads our experienced investment team. Yacktman Portfolio Manager Adam Sues discusses timeless lessons from an early sales job that informed and inspired his early interest in value investing. Access your AMG Funds account. Copyright 2023 AMG Funds LLC. To match you with top Each of his children can tell a story about his frugality. He avoids promoting his own record or ideas, which is almost never the case when a fund grows as fast as Yacktmans has. Yacktman owns this 9,300 sqft home as well as the baseball diamond next door. In 2006 he was named Co-Chief Investment Officer and Senior Vice President of Yacktman Asset Management. 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. Seven months later her tubes were removed. He graduated from Brigham Young University with an economics degree and MBA. BCAM is headquartered in Boston, with offices in San Francisco. Explore client engagement resources, advisor focused insights and expert views from our affiliates. Jason Subotky is Partner and Portfolio Manager of Yacktman Asset Management. Mr. Sues holds a BA in business administration from Mount Union College and an MBA from the University of North Carolina Kenan-Flagler Business School. For actively managed strategies, people and process each receive a 45% weighting in their analysis, while parent receives a 10% weighting. His voice rarely rises above a quiet conversational level. She heard him weep for the first time. Booking Holdings Inc. had an annual average earnings growth of 30.70% over the past 10 years. 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. The Manager Research Group evaluates funds based on five key pillars, which are process, performance, people, parent, and price. But because her pons the part of the brain near the spinal cord that controls voluntary movement was nearly destroyed during the stroke, she was told she would never move below her eyes again. Find out more below. Of its 780 accounts, 99% are held by high-net-worth investors who have at least $1 million in assets available to invest. Yacktman Asset Management Lp is a financial advisory company that has its headquarters in Austin, Texas. In 1993, Easterbrook worked the first time for McDonald's. Founded by investor Donald Yacktman, the fund is now helmed by Chief Investment Officer Stephen Yacktman. (which will reduce returns). He was profoundly impacted by Sinquefield's argument that "active management does not make sense theoretically and isn't justified empirically". The existence of a fiduciary duty does not prevent the rise of potential conflicts of interest. Steve slaved away as an analyst at his fathers firm for years, learning how businesses juiced earnings at the same time he learned the tenets of value investing. It is a subjective evaluation performed by Morningstars manager research group, which consists of various Morningstar, Inc. subsidiaries (Manager Research Group). Take HP, which has seen its stock swoon 50% this year. 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. Get our editors daily picks straight in your inbox! Frontier Capital Management Company, LLC specializes in growth and value equity investments on behalf of institutional and individual clients. The forward dividend yield of The Walt Disney Co. is 1.35%. His voice trembles a bit: You never think in todays world that a child will predecease you., MORE:AlexandraLebenthal the new queen of Wall Street. . SmartAsset Advisors, LLC ("SmartAsset"), a wholly owned subsidiary of Financial Insight Technology, AMG Funds takes no The named financial professional and firm have not reviewed, approved, or endorsed this profile and FORTUNE The County Line barbecue joint in Austin is buzzing at lunchtime you can smell the charred red meat half a mile away. Talisman Village is a Class B property, with rents that range from $660 a month for a studio apartment to $1,164 for the most expensive two-bedroom, according to CoStar Group Inc. Your inbox over a full market cycle while managing the level of expected net alpha relative to category! 'S Affiliate investment managers platform based on five key pillars, which occupied 4.07 % of the financial for. 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