It handles $18 billion in assets across its 780 accounts, making it one of the largest investment advisory firms in the nation by assets under management. Purchase or redeem shares. 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). Bean catalogue model. Both current and future portfolio holdings are subject to risk. The Fund seeks long-term capital appreciation through an intrinsic value-oriented investment approach. 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. https://shareholders.morningstar.com/investor-relations/governance/ ComplianceDisclosure/default.aspx. The investment seeks long-term capital appreciation and, to a lesser extent, current income. GuruFocus rated Brenntag AGthe business predictability rank of 4.5-star. Comanagers Stephen Yacktman and Jason Subotky are not strict value investors, but they are very valuation-conscious. 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). 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. 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. The companies are hardly exciting. Download or order product information and regulatory documents. You see the great investors come alive when the publics running for the hills.. The fund purchased 4,305,280 shares of Beiersdorf AG, giving it 1.62% portfolio weight. From 2010-2013, he was the founder and author of Value Uncovered, an investment website focused on value-oriented stock research and fundamental analysis. Please validate that you are an investment professional by submitting your business email. News Corp. ultimately leaped from $6 to $24, Viacom more than tripled from $15 to $50, and AmeriCredit jumped from $13 to $24. Huntsman Corporation (NYSE:HUN), Oracle Corporation (NYSE:ORCL), and Cisco Systems, Inc. Yacktman Asset Management, an investment management firm, released its Yacktman Fund Q3 2022 investor letter. firm, and financial professionals and firms having business relationships with SmartAsset receive The stocks first-quarter share price averaged $20. the site, or by any advertiser on the site. De Georgia, professor of neurology at Case Western Reserve University School of Medicine and her doctor at the Cleveland Clinic. Happy clients might be willing to kick in too. (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.) He is currently the #5 rated hedge fund manager in the TipRanks database, with a portfolio valued over $8. Jenny talks with a kind of improvised American Sign Language because she is still without use of her left hand. . Could Chinese Equities Stage a Strong Comeback in 2023? Since 1992, the firm has navigated multiple market cycles while adhering to a disciplined investment approach led by Stephen Yacktman, Chief Investment Officer. Shaw Group. 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. The Walt Disney Co. has a market cap of $236.85 billion; its shares were traded around $131.76 Wednesday with a price-earnings ratio of 19.11 and price-sales ratio of 3.30. Founded in 2003, Veritas Asset Management is a leading Global and Asian equities manager. For more detailed information about Morningstars Analyst Rating, including its methodology, please go to https://shareholders.morningstar.com/investor-relations/governance/ ComplianceDisclosure/default.aspx. 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. Their team of investment professionals still share the same entrepreneurial spirit which drives the way they serve their institutional clients globally. or any of the policies, activities, products or services offered on Jason is a co-manager for AMG Yacktman Focused Fund and AMG Yacktman Fund and is a member of the Management Committee. responsibility for the accuracy or factual correctness of any Whats his secret? GuruFocus rated Alphabet Inc.the business predictability rank of 3.5-star. She has financial resources, a loving family, and a young body. The fund purchased 2.305 million shares of Brenntag AG, giving it 2.13% portfolio weight. Access your AMG Funds account. In 2004, his daughter Jenny suffered a stroke at age 30. Beiersdorf AG has a market cap of $23.74 billion; its shares were traded around $21.01 with a price-earnings ratio of 29.16 and price-sales ratio of 2.94. Jason Subotky is Partner and Portfolio Manager of Yacktman Asset Management. platform based on information gathered from users through our online questionnaire. King has a completed bachelor's degree in English and is one of the most popular authors in the world. 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. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP and CERTIFIED FINANCIAL PLANNER in the United States, Don, his wife, and almost their entire family are nearby. 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,. He speaks softly and keeps his head down. Find out more below. The 71-year-old with a broad build and bald pate is thriving in the slumping, post-crisis world of stock mutual funds. Yacktmans not a gunslinger, nor does he think hell beat the S&P 500 every year. Don decided years ago he wanted his firm to live past him, and Steve was already picking most of the portfolios stocks. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. For passive strategies, process receives an 80% weighting, while people and parent each receive a 10% weighting. Billionaire investing legend Donald Yacktmanis increasingly pulling money out ofU.S. equities. During the past decade his flagship Yacktman Fund (YACKX) has returned 10.5%. Shares traded for an average price of $57.91 during the quarter. no special treatment or consideration in SmartAssets profiles. Any securities discussed may no longer be held in an accounts portfolio. Mr. Subotky received a Bachelor of Music from the University of Southern California and an MBA from Brigham Young University. Yacktman is far from the action on Wall Street or in Chicago, where he lived for most of his life. Click here to get matched with an advisor today. The forward dividend yield of Beiersdorf AG is 0.76%. In 2006 he was named Co-Chief Investment Officer and Senior Vice President of Yacktman Asset Management. 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. Austin, Texas (TX), US Stephen Yacktman is Chief Investment Officer, Partner, and Portfolio Manager of Yacktman Asset Management. In 2006 he was named Co-Chief Investment Officer and Senior Vice President of Yacktman Asset Management. U-Haul Holding Co The guru established a new position worth 6,712,255 shares in NYSE:UHAL.B, giving the stock a 3.68% weight in the equity portfolio. BlackBerry-maker RIM is an even smaller position in the portfolio but one that has already proved rewarding. You just need to catch the wind enough times, he says. This is a BETA experience. 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. Don got the news the next morning on a call from his daughter Melissa. They gave her 24 hours to live. Yacktman believes this approach combines the best features of growth and value investing. For this and other information, please call 800.548.4539 or visit www.amgfunds.com for a free prospectus. 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 It also may invest in foreign equity securities, including emerging market securities, and debt securities. AMG Funds are distributed by AMG Distributors, Inc., a member of FINRA/SIPC. Yacktman employs a disciplined investment strategy, buying growth companies at what it believes to be low prices. Since 1992, Yacktman Asset Management has navigated multiple market cycles while adhering to a disciplined investment approach. Find contact's direct phone number, email address, work history, and more. Companies that are in similar businesses may be similarly affected by particular economic or market events; to the extent the Fund has substantial holdings within a particular sector, the risks associated with that sector increase. The forward dividend yield of Brenntag AG is 2.29%. 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. 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). FINRA. The issuers of the Funds holdings may be involved in bankruptcy proceedings, reorganizations, or financial restructurings, and are not as strong financially as higher-rated issuers. Attracting and retaining skilled, passionate people in the investment management field is the key to our success. Soon she regained some movement in her right hand, then the entire right side of her body. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices Basic Info. 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. So he flew to Atlanta that day for a meeting. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. Current performance may be lower or higher than the performance data quoted. Boston Common Asset Management (BCAM) is a diverse, women-led, sustainable investor and innovator dedicated to the pursuit of nancial return and social change. Top Ten Holdings: Mention of a specific security should not be considered a recommendation to buy or solicitation to sell that security. 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. 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. Founded in 1978, Renaissance Investment Management is a registered investment advisor based in the greater Cincinnati, Ohio, area. Past performance is no guarantee of future results. 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. The spectacular returns and conservative approach have attracted new money a lot of new money to Yacktmans funds. Stephen King Net Worth: $400 Million Stephen King is an acclaimed author of contemporary suspense, fantasy, horror, and science fiction. In 1982, Yacktman was wooed by Vincent Chesley to manage Selected American Shares, a portfolio worth $76 million which he primarily managed using his investment mantra of selecting shares of small companies, referred to as "bargains". While Don proudly bought a new Honda Accord at Costco, Steve drives a brand-new Cadillac CTS-V, a sedan outfitted with a 560-horsepower Corvette engine. loss of principal. We employ an objective, patient, and diligent investment approach and seek to achieve superior investment returns over a full market cycle. Past performance is not a guarantee of future results. 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. Seven months later her tubes were removed. Past performance is not a guarantee of future results. Overview Schwarzman is chairman, co-founder and largest shareholder of Blackstone. His explanation: No reason to waste a good bag., MORE: The risk-averse fund declined 3.8% versus the 13.52% drop in the S&P 500 for the fourth quarter. The firm strives to achieve solid risk-adjusted returns over time. Offers may be subject to change without notice. Wall Street experts where to make money in 2013. Read it carefully before investing or sending money. The stocks first-quarter share price averaged $1,120. PG 15 . 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. Adam Sues is a Partner and Portfolio Manager at Yacktman Asset Management. SmartAsset does not Stephen Malkmus net worth: Stephen Malkmus is an American musician and singer who has a net worth of $5 million. Mr. Yacktman was a finalist for Morningstar's Domestic-Stock Manager of the Year award in 2011. You wont hear his opinion about the European debt crisis. This article discusses the top 10 stock picks of Donald Yacktmans Yacktman Asset Management at the end of the second quarter. 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. Yacktman Asset Management is a boutique investment advisory firm that has a history of serving long-term-oriented investors. which it authorizes the use of by individuals who successfully complete CFP Boards initial and ongoing certification requirements. than any other service in the U.S. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. She blinked once each time. He thinks back to how close he was to losing his daughter. 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. At first quarter-end, it held 35 stocks valued at $5.57 billion. AMG takes a cut of fees but doesnt meddle in operations.). Another time at family dinner, the twice-a-month gathering of his children in Austin, his son Robs wife threw away a recycling bag filled with empty soda cans. Unlike the Fund, indices are unmanaged, not available for investment and do not incur expenses. Mr. Subotky received a Bachelor of Music from the University of Southern California and an MBA from Brigham Young University. All rights reserved. Yacktman Asset Management is a boutique investment firm located in Austin, Texas. This is not an offer to buy or sell any security or interest. AMG Funds provides access to a wide array of separate account strategies managed by a number of AMG's Affiliate investment managers. ("Adviser(s)") with a regulatory body in the United States that have elected to participate in our matching Take HP, which has seen its stock swoon 50% this year. For performance information through the most recent month end please call 800.835.3879 or We do not manage client funds or hold custody of assets, we help users connect with relevant financial 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. Of its 780 accounts, 99% are held by high-net-worth investors who have at least $1 million in assets available to invest. After prescient bets on beat-up stocks like Viacom and News Corp., the fund skyrocketed 99% from the end of 2008 through mid-November, scorching 98% of competitors as well as the overall market. View your account balance and transaction history. GW&Ks founding principles of applying rigorous fundamental research, focusing on quality, and maintaining a long-term view still guide its investment process today. The firm was founded upon a proprietary Absolute Value investment discipline. Today, despite what he considers an overpriced stock market he says the S&P 500 price/earnings ratio is a lofty 20, according to his calculation of operating earnings he says the Yacktman funds can return double digits a year, thanks to cheap multinational companies that have not risen as fast as other stocks. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown. Your browser is not currently supported. 10. (Also, in planning for his firms continuation beyond his death, this summer Don sold a controlling equity stake to Affiliated Managers Group (AMG), which owns other respected asset managers, including Tweedy Browne. 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. Find out more below. The sector allocation chart represents sectors at least 5%. 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. TimesSquare is a growth equity specialist. all available advisors and firms and matches based on specific criteria (investable assets, After talking stocks, Steve rides the elevator up two floors to show off the Yacktman Funds other big investment: brand-new offices that the firm is gutting and renovating. Hes dressed in khakis and wearing a Timex. 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. They are a trusted partner to institutional investors globally, providing mutual fund and separate account management. Investors should carefully consider the Funds investment objectives, risks, charges and expenses before investing. Founded in 2014, Jackson Square is an independent, majority employee-owned investment manager specializing in long-only, growth-oriented equity investing. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. I told them, If it runs into the seven digits, you guys can cover the overages,' he says with a laugh. The doctor told Mark she had two choices: have her feeding tube removed and eventually die, or live with an uncertain future. The forward dividend yield of The Walt Disney Co. is 1.35%. In 1993, Easterbrook worked the first time for McDonald's. Answer a few questions andget matched with an advisor. 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. The fund purchased 100,000 shares of Alphabet Inc., giving it 2.11% portfolio weight. 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. He doesnt employ anyone to handle public relations. 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. 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. Opinions expressed by Forbes Contributors are their own. SmartAsset did not receive compensation for including any of the firms or advisors He just doesnt get rattled in bad markets, says Jeff Auxier, a fellow value-fund manager based in Oregon. This profile may include a firm or advisor that has a business relationship with SmartAsset, in 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. He joined the firm in 2013 and is portfolio manager for the AMG Yacktman Special Opportunities Fund. Beiersdorf AG had an annual average earnings growth of 5% over the past 10 years. Founded in 1978, Renaissance Investment Management is a registered investment advisor based in the greater Cincinnati, Ohio, area. 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. Yacktman Asset Management, an investment management firm, released its Yacktman Fund Q3 2022 investor letter. 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. Hedge Fund and Insider Trading News: Steve Cohen, Two Sigma Advisors, Citadel LLC, Bridgewater Associates, Fir Tree Partners, NVIDIA Corporation (NVDA), Erasca Inc (ERAS), and More. Overnight it became clear the drugs werent working. The fortune of Blackstone CEO Stephen Schwarzman reached a record high of $26.8 billion this week, as the soaring share price of the private equity firm he cofounded has added $11 billion to his. Two months after the stroke, she returned home from the hospital. His record since the middle of the financial crisis is even more impressive. An active, global equity ESG investment manager and a leader in impactful shareowner engagement since its founding in 2003, BCAM is majority women- and employee-owned. Bridgewater Associates held 6,615,453 shares at the end of the third calendar quarter. Any investor should consider You dont need to jump in and out of stocks, he tells them. Since 1992, the firm has navigated multiple market cycles while adhering to a disciplined investment approach led by Stephen Yacktman, Chief Investment Officer. Data Sources: BoNY, FactSet, Bloomberg and ICE Data Analytics. 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. 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. Yacktman's 13F equity portfolio value increased from $10.31B to $10.40B this quarter. Future Holdings Risk: Any sectors, industries or securities discussed should not be perceived as investment recommendations. 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. 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. Father and son couldnt be more different. when redeemed, may be worth more or less than their original cost. He is. You are now leaving the AMG Funds web site: Changing interest rates may adversely affect the value of an investment. The named financial professional and firm have not reviewed, approved, or endorsed this profile and 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 Stephen is registered in the following The firm was founded upon a proprietary Absolute Value investment discipline. Access your AMG Funds account. The Firm seeks to invest in high-quality businesses at low valuations, with the goal of generating outperformance over a full market cycle while managing the level of risk. Please click OK below to leave the AMG Funds site and proceed to the 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. For performance information through the most recent month end please call 800.548.4539. This isnt Warren Buffett holding court at Piccolo Petes, but its close. Steve Yacktman started working full-time at Yacktman Asset Management in 1993. 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. The trailing 12-month dividend yield of Brenntag AG is 2.29%. There Wasnt One Today! He has survived financial bubbles, crises, even a former boards attempt to drive him out of his own fund company. From 2008 to 2009, the Yacktman Focused Fund was up nearly 25% and the Yacktman Fund increased nearly 18% while the S&P 500 declined more than 20%. 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. Yacktman employs a disciplined investment strategy, buying growth companies at what it believes to be low prices. SmartAsset Advisors, LLC ("SmartAsset"), a wholly owned subsidiary of Financial Insight Technology, 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 Fund seeks long-term capital appreciation and, to a lesser extent, current income by primarily investing in common stocks of U.S. companies. The firm seeks to make investments in high-quality businesses at low valuations with the goal Jason is a co-manager for AMG Yacktman Focused Fund and AMG Yacktman Fund and is a member of the Management Committee. These securities are considered predominantly speculative with respect to the issuers continuing ability to make principal and interest payments. Profile content is produced by SmartAsset independently of any Steve was a finalist for Morningstar's Domestic-Stock Manager of the Year award in 2011. Copyright 2023 AMG Funds LLC. BCAM is headquartered in Boston, with offices in San Francisco. information posted to third party web sites. advisors. This page contains links to SmartAssets financial advisor matching tool, which may or may not