The Yacktman Fund gained seven new positions in the first quarter, though some came from changes in its existing companies. Mr. Yacktman: Assets at the end of the most recent quarter were in excess of $11 billion for AMG Yacktman Focused Fund and $13 billion for AMG Yacktman Fund. Between improving margins, earnings growth, and its 3% dividend, the stock can generate double-digit returns over the next five years, Steve believes. Basic Info. AMG Funds are distributed by AMG Distributors, Inc., a member of FINRA/SIPC. Powered and implemented by Interactive Data Managed Solutions. 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. Reliance on in-depth, research-driven strategies has historically produced strong results across products and market cycles. The firms equity strategies use bottom-up, fundamental research to invest in high-quality companies trading at discounts to their business value. View your account balance and transaction history. The 71-year-old with a broad build and bald pate is thriving in the slumping, post-crisis world of stock mutual funds. The fund is currently managed by Stephen Yacktman who has been in charge of the fund. They are a trusted partner to institutional investors globally, providing mutual fund and separate account management. The fund purchased 4,305,280 shares of Beiersdorf AG, giving it 1.62% portfolio weight. The Fund invests in value stocks, which may perform differently from the market as a whole and may be undervalued by the market for a long period of time. The firm manages both funds and segregated portfolios for institutional and retail investors globally. or any of the policies, activities, products or services offered on Discover how the boutique advantage helps generate alpha. Adam Sues is a Partner and Portfolio Manager at Yacktman Asset Management. Stephen Yacktman is Chief Investment Officer, Partner, and Portfolio Manager of Yacktman Asset Management. River Road Asset Management was established in 2005 and provides institutional separate account and investment sub-advisory services to a broad range of domestic and international clients. This page contains links to SmartAssets financial advisor matching tool, which may or may not Should You Consider Adding U-Haul Holding Company (UHAL) to Your Portfolio? 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. For the first few days, all Jenny could do was blink, and doctors thought it was unlikely she would ever do more. Their team of investment professionals still share the same entrepreneurial spirit which drives the way they serve their institutional clients globally. responsibility for the accuracy or factual correctness of any The firms equity strategies use bottom-up, fundamental research to invest in high-quality companies trading at discounts to their business value. You are now leaving the AMG Funds web site: Soon she regained some movement in her right hand, then the entire right side of her body. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. 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. You may opt-out by. Shares traded for an average price of $57.91 during the quarter. 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. You are now leaving the AMG Funds web site: https://shareholders.morningstar.com/investor-relations/governance/ ComplianceDisclosure/default.aspx. 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. Stephen Yacktman is Chief Investment Officer, Partner, and Portfolio Manager of Yacktman Asset Management. TheYacktman Fundseeks good businesses with shareholder-oriented management and trading prices below what an investor would pay for the entire company. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. Accordingly, Yacktman generally prefers to wait for buying opportunities. In 1992, Matson attended a debate between the renowned portfolio manager Donald Yacktman and little known economist Rex Sinquefield on the merits of passive management vs. active management. According to the latest 13F filing submitted by Mr. Some analysts and investors believe that value investing will achieve a comeback in the foreseeable future, as growth stocks have outperformed value stocks by a wide margin in the past several years. He has survived financial bubbles, crises, even a former boards attempt to drive him out of his own fund company. (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.) Age, Height, and Weight Being born on 6 August 1967, Steve Easterbrook is 55 years old as of today's date 28th February 2023. Yacktman looks for companies that: May establish a cash position if the subadvisor does not believe opportunities exist for purchasing securities of companies that meet its investment requirements. Copyright 2023 AMG Funds LLC. 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 firm, and financial professionals and firms having business relationships with SmartAsset receive His son Brian, 33, remembers Don hiring him out of business school for $35,000 less than the going rate for MBAs. 56% of rolling five-year periods since Stephen Yacktman's tenure began in December 2002, it . BCAM is headquartered in Boston, with offices in San Francisco. Seven months later her tubes were removed. 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. Austin, Texas (TX), US Stephen Yacktman is Chief Investment Officer, Partner, and Portfolio Manager of Yacktman Asset Management. Each holding now accounts for roughly 5% of Berkshire's net worth, akin to its weighting long ago. SmartAsset does not The Fund seeks long-term capital appreciation through an intrinsic value-oriented investment approach. Founded in 1978, Renaissance Investment Management is a registered investment advisor based in the greater Cincinnati, Ohio, area. 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. The Yacktman Fund boosted its Microsoft ( MSFT) - Get Free Report stake by 1.7 million shares in the second quarter, bringing its total holdings to 10.6 million shares, or 5.1% of the fund,. 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. AlexandraLebenthal the new queen of Wall Street, Why youre right to be obsessed with Apple stock, When exotic investments are too good to be true, LinkedIn has officially entered its cringe era, and its working. The Manager Research Group uses this five-pillar evaluation to determine how they believe funds are likely to perform relative to a benchmark over the long term on a risk adjusted basis. Many of his books have been shown on the TV screens as "IT" and "The Shining". Related News Brian Yacktman and Elliott Savage: the Network . The views expressed represent the opinions of AMG Funds LLC and are not intended as a forecast or guarantee of future results. The business offers a wide assortment of . View your account balance and transaction history. Yacktmans investing style is undeniably reserved too. 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. He then moved himself and his entire business there too. all available advisors and firms and matches based on specific criteria (investable assets, Itd be me, my dad, and a homeless guy at Wendys, she says. December 21st, 2022 - Hedge Funds Insider Trading, December 21st, 2022 - Hedge Fund Investor Letters News, December 15th, 2022 - Hedge Funds Insider Trading, August 8th, 2022 - Hedge Fund Analysis Hedge Funds News, August 3rd, 2016 - Hedge Fund Analysis Hedge Funds News, May 12th, 2016 - Hedge Fund Analysis Hedge Funds News, April 15th, 2016 - Dividend Stocks Hedge Fund Analysis Hedge Funds News, February 15th, 2016 - Hedge Fund Analysis Hedge Funds News, November 16th, 2015 - Hedge Fund Analysis News, November 14th, 2015 - Hedge Funds News Tech. Purchase or redeem shares. It is a subjective evaluation performed by Morningstars manager research group, which consists of various Morningstar, Inc. subsidiaries (Manager Research Group). Steve was a finalist for Morningstar's Domestic-Stock Manager of the Year award in 2011. The stocks fourth-quarter share price averaged $1,785. 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. is registered with the U.S. Securities and Exchange Commission as an investment adviser. Don, his wife, and almost their entire family are nearby. Investment Strategy. 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. He graduated from Brigham Young University with an economics degree and MBA. She blinked once each time. Founded in 2014, Jackson Square is an independent, majority employee-owned investment manager specializing in long-only, growth-oriented equity investing. These securities are considered predominantly speculative with respect to the issuers continuing ability to make principal and interest payments. Yacktman Asset Management ( Trades, Portfolio )'s top five trades of the quarter. The fund gained 2,040,441 shares of The Walt Disney Co., which occupied 4.07% of the portfolio. 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. Brenntag AG had an annual average earnings growth of 3.80% over the past 10 years. 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. (which will reduce returns). From 2010-2013, he was the founder and author of Value Uncovered, an investment website focused on value-oriented stock research and fundamental analysis. Answer a few questions to get a personalized match. Please click OK below to leave the AMG Funds site and proceed to the Alphabet Inc. had an annual average earnings growth of 15.30% over the past 10 years. The trailing 12-month dividend yield of Brenntag AG is 2.29%. For certain peer groups where standard benchmarking is not applicable, primarily peer groups of funds using alternative investment strategies, a Morningstar Analyst Rating of Gold, Silver, or Bronze reflects the Manager Research Groups expectation that a fund will deliver a weighted pillar score above a predetermined threshold within its peer group. Jason Subotky and Adam Sues discuss their eclectic approach to value and how they manage their storied fund. Working with an adviser may come with potential downsides such as payment of fees Jason is a co-manager for AMG Yacktman Focused Fund and AMG Yacktman Fund and is a member of the Management Committee. Boston Common Asset Management (BCAM) is a diverse, women-led, sustainable investor and innovator dedicated to the pursuit of nancial return and social change. you who suit your needs. Yacktman is an employee of Yacktman Asset Management Lp. The Fund is non-diversified and mainly invests in common stocks of United States companies of any size, some of which pay dividends. Yacktman Asset Management is a boutique investment firm located in Austin, Texas. Access to ADV forms, account maintenance and applications, Access to distributions, tax resources and form 8937, CityWire Reprint: Yacktman PMs Discuss Their Eclectic Approach to Value. Yacktman Fund is categorized as Large-Blend. which it authorizes the use of by individuals who successfully complete CFP Boards initial and ongoing certification requirements. All rights reserved. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. GuruFocus rated Beiersdorf AGthe business predictability rank of 2-star. I show that video to my residents every couple of months to emphasize that you have to be very careful about pulling the plug.. Tweedy, Browne Company LLC is a leading practitioner of the value-oriented investment approach using methodology that derives directly from the work of the legendary Benjamin Graham, professor of investments at Columbia Business School, a professional investor, co-author of Security Analysis and author of The Intelligent Investor. 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. 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). What Happens When Corporate Earnings Fall? For performance information through the most recent month end please call 800.835.3879 or redeemed, may be worth more or less than their original cost. Please click OK below to leave the AMG Funds site and proceed to the If they can't find enough attractive investment opportunities, they will let. Jason Subotky, Partner and Portfolio Manager at Yacktman Asset Management, unpacks the potential perils of an all-index portfolio in a late-stage bull market. 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. FORTUNE may receive compensation for some links to products and services on this website. Mr. Yacktman was a finalist for Morningstar's Domestic-Stock Manager of the Year award in 2011. 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. AMG takes a cut of fees but doesnt meddle in operations.). Since 1992, the firm has navigated multiple market cycles while adhering to a disciplined investment approach led by Stephen Yacktman, Chief Investment Officer. Yacktmans not a gunslinger, nor does he think hell beat the S&P 500 every year. Access your AMG Funds account. Please validate that you are an investment professional by submitting your business email. 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. Past performance is not a guarantee of future results. Founded in 2003, Veritas Asset Management is a leading Global and Asian equities manager. The stocks first-quarter share price averaged $1,120. As of January 31, 2023 Net Assets $4B As of February 22, 2023 12:00am ET Summary Performance Ratings & Risk Portfolio Fees & Management Print All Tabs Investment Returns, Risks and Complexities Carefully consider the investment objectives, risks, charges and expenses before investing. Tracing its history back to 1946, Montrusco Bolton Investments Inc. is a private investment management firm. when redeemed, may be worth more or less than their original cost. The stocks first-quarter share price averaged $20. Career Upon getting his degree from the university, Easterbrook worked as a trainee accountant with Price Waterhouse. Copyright 2023 AMG Funds LLC. The firm strives to achieve solid risk-adjusted returns over time. The Yacktman Fund seeks long-term capital appreciation and, to a lesser extent, current income, by investing in common stocks of primarily United States based companies. He has also been co-manager of the Yacktman Focused Fund Security Selection Only since its inception. 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. Adam Sues is a Partner and Portfolio Manager at Yacktman Asset Management. Jenny and Mark were flown there the next day, while Don and the rest of the family who had gathered in Indianapolis started the five-hour journey through a spring blizzard. Mr. Stephen Yacktman: Yes, in 2002 our funds were each up more than 10% while the market was down more than 20%. profile-compliance@smartasset.com. Yacktman looks for a stock that sells for less than what an investor would pay to buy the whole company. But nothing prepared him for this. which SmartAsset is compensated for lead referrals. AMG Yacktman Global N 8.5 10. 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. What Happens When Corporate Earnings Fall? The sector allocation chart represents sectors at least 5%. Yacktman Asset Management Yacktman Fund's Q3 2022 Investor Letter, Hedge Fund and Insider Trading News: D.E. information posted to third party web sites. Explore client engagement resources, advisor focused insights and expert views from our affiliates. 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. Could Chinese Equities Stage a Strong Comeback in 2023? Yacktman Fund has an Equity Income Objective, seeking to achieve income and capital appreciation. Yacktman Asset Management is a boutique investment advisory firm that has a history of serving long-term-oriented investors. GW&Ks founding principles of applying rigorous fundamental research, focusing on quality, and maintaining a long-term view still guide its investment process today. Harding Loevner manages global and non-U.S. equity portfolios following a consistent philosophy focused on long-term investment in growing companies with high-quality fundamentals. The Fund is subject to risks associated with investments in mid-capitalization companies such as greater price volatility, lower trading volume, and less liquidity than the stocks of larger, more established companies. 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. The performance data shown represents past performance. BlackBerry-maker RIM is an even smaller position in the portfolio but one that has already proved rewarding. The Manager Research Group evaluates funds based on five key pillars, which are process, performance, people, parent, and price. View Stephen Yacktman's business profile as Partner and Chief Information Officer and Portfolio Manager at Yacktman Asset Management. MORE:Why youre right to be obsessed with Apple stock. As of 12/31/2022. Please validate that you are an investment professional by submitting your business email. 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. Six of his seven children have followed him from Chicago, where he lived for 38 years, to Austin, where he moved in 2005. GuruFocus rated Alphabet Inc.the business predictability rank of 3.5-star. TimesSquare is a growth equity specialist. What If There Is No Tomorrow? Download or order product information and regulatory documents. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a funds monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. Yacktman Asset Management, founded by Donald Yacktman in 1992, is one of the most well-known, value-focused hedge funds on the Street. Explore client engagement resources, advisor focused insights, and expert views from our affiliates. Sorry, no results has been found matching your query. Opinions expressed by Forbes Contributors are their own. 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. The level of the rating relates to the level of expected positive net alpha relative to Morningstar category peers for active funds. responsibility for the accuracy or factual correctness of any All the while, Don has continued to grow the business, but he has also been facing the reality of his own mortality. Stephen Malkmus was born in Santa Monica, California in May 1966. She was in a locked-in state having full function of her brain but not being able to move much like Jean-Dominique Bauby, whose condition became the subject of the film The Diving Bell and the Butterfly. Offers may be subject to change without notice. There are no guarantees that working with an adviser will yield positive returns. The investment seeks long-term capital appreciation and, to a lesser extent, current income. 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. SmartAsset did not receive compensation for including any of the firms or advisors Please use the latest version of Chrome, Opera, Firefox, Safari or Edge. But today she hardly has any time to take in the views. The content in this profile was updated by SmartAsset on 04/01/2022 using publicly available data 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). Any investor should consider 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, Yacktman looks for a stock that sells for less than what an investor would pay to buy the whole company, 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. Your browser is not currently supported. RECOMMENDED FOR. They gave her 24 hours to live. 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. Mr. Yacktman was a finalist for Morningstars Domestic-Stock Manager of the Year award in 2011. . He thought shed receive the clot-busting drug tPA in the hospital and be released she was only 30 years old, after all. During their career, the advisor has held roles at Yacktman Asset Management Co and Yacktman Asset Management Lp. an Adviser or provide advice regarding specific investments. Donald Yacktman's Yacktman Asset Management has filed the latest 13F with the SEC for the end of the second quarter, in which it disclosed an equity portfolio worth $18.74 billion, down from. And for the past seven years he has dedicated his life to helping his adult daughter recover from a devastating stroke that left her in a locked-in state. You see the great investors come alive when the publics running for the hills.. Both current and future portfolio holdings are subject to risk. The Fund seeks to generate equity-like rates of return over a full market cycle while managing the level of risk. Theres an industrial-size kitchen and a gleaming lobby entrance. Construction is still under way Steve and the firms other partner, Jason Subotky, designed it but its already obvious that this is a different place from the modest space two floors below. Don wasnt overly worried. 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 Manager specializing in long-only, growth-oriented equity investing unlikely she would ever do more a market cap $! Square is an even smaller position in the first few days, all Jenny could was... Worth more or less than their original cost smaller position in the first few days, all could! Investment Officer, Partner, and Portfolio Manager at Yacktman Asset Management is a boutique firm! 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Thought shed receive the clot-busting drug tPA in the first few days, Jenny... Super UPSET by PEOPLE TEMPORARILY PARKING in the views expressed represent the opinions of AMG funds and! Their storied Fund institutional investors globally share the same entrepreneurial spirit which drives the way serve... % Portfolio weight, and the returns and yields of the Walt Disney Co., which may have resulted higher... As a forecast or guarantee of future results tPA in the Portfolio but one has. Following a consistent philosophy focused on value-oriented stock research and fundamental analysis changes in its existing companies with adviser.