From 2010-2013, he was the founder and author of Value Uncovered, an investment website focused on value-oriented stock research and fundamental analysis. 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. Stephen Yacktman helms the $5.57 billion portfolio that was begun by legendary investor Donald [+] Yacktman. Theres an industrial-size kitchen and a gleaming lobby entrance. TimesSquare is a growth equity specialist. This website is designed for display in modern browsers. 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 seeks long-term capital appreciation through an intrinsic value-oriented investment approach. AMG Funds provides access to a wide array of separate account strategies managed by a number of AMG's Affiliate investment managers. Normally the steady businesses of servers and printers, along with a cheap stock price, would tempt Steve to load up on shares. 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. BCAM is headquartered in Boston, with offices in San Francisco. information posted to third party web sites. 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. Yacktman Asset Management is a boutique investment firm located in Austin, Texas. The firm seeks to make investments in high-quality businesses at low valuations with the goal Father and son couldnt be more different. which SmartAsset is compensated for lead referrals. Investment Strategy. GuruFocus rated Alphabet Inc.the business predictability rank of 3.5-star. TheYacktman Fundgained seven new positions in the first quarter, though some came from changes in its existing companies. Itd be me, my dad, and a homeless guy at Wendys, she says. Download or order product information and regulatory documents. Since inception, it returned 10.17% versus 9.2% for the index. Don built this house for her so she could enjoy beautiful views while confined to a bed. The fund purchased 4,305,280 shares of Beiersdorf AG, giving it 1.62% portfolio weight. 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. The two funds have pulled in $12.9 billion since 2008, Morningstar estimates more than all but one other stock fund, a BlackRock dividend fund. Download or order product information and regulatory documents. The fund may invest up to 30% of its assets in foreign . Since 1992, the firm has navigated multiple market cycles while adhering to a disciplined investment approach led by Stephen Yacktman, Chief Investment Officer. For the first few days, all Jenny could do was blink, and doctors thought it was unlikely she would ever do more. Bridgewater Associates held 6,615,453 shares at the end of the third calendar quarter. 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. On July 25, Don Yacktman announced that his son, Stephen Yacktman, had taken over as sole chief investment officer of Yacktman Asset Management, the subadvisor to Gold-rated Yacktman (. Stephen Yacktman is a financial advisor working out of Austin, Texas, who has been in the financial industry for 26 years. For example, they recently loaded up again on Procter & Gamble, which Steve says is at the tail end of a cycle of contracting margins. Take HP, which has seen its stock swoon 50% this year. Billionaire investing legend Donald Yacktmanis increasingly pulling money out ofU.S. equities. 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. 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. no special treatment or consideration in SmartAssets profiles. Investors should carefully consider the Funds investment objectives, risks, charges and expenses before investing. He instead buys steady, profitable businesses when they disappoint Wall Street. Since AMG Yacktman I made its debut in July of 1992, YACKX has garnered more than $6.47 billion in assets. # 39 Stephen Schwarzman $31.0B Random fact: Gave $150 million to Yale, $100 million to New York Public Library. In fact, if you dont catch his rare segments on CNBC, you might not hear him at all. 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 performance data shown represents past performance. SmartAssets Stephen Yacktman was nominated for Morningstar's Domestic Stock Fund Manager of the Year - 2011. . Between improving margins, earnings growth, and its 3% dividend, the stock can generate double-digit returns over the next five years, Steve believes. Future Holdings Risk: Any sectors, industries or securities discussed should not be perceived as investment recommendations. Whats his secret? choosing a financial advisor. Tracing its history back to 1946, Montrusco Bolton Investments Inc. is a private investment management firm. Boston Common Asset Management (BCAM) is a diverse, women-led, sustainable investor and innovator dedicated to the pursuit of nancial return and social change. The trailing 12-month dividend yield of The Walt Disney Co. is 1.30%. The forward dividend yield of Beiersdorf AG is 0.76%. To report any data inconsistencies or errors, please contact In 2006 he was named Co-Chief Investment Officer and Senior Vice President of Yacktman Asset Management. Such opportunities do not always occur in correlation with overall market performance trends. 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. or any of the policies, activities, products or services offered on The funds are bound to have losers each year, just like the blackjack player who loses before he eventually wins. He thought shed receive the clot-busting drug tPA in the hospital and be released she was only 30 years old, after all. Since 1992, Yacktman Asset Management has navigated multiple market cycles while adhering to a disciplined investment approach. Investments in international securities are subject to certain risks of overseas investing including currency fluctuations and changes in political and economic conditions, which could result in significant market fluctuations. View your account balance and transaction history. FORTUNE may receive compensation for some links to products and services on this website. 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. Career Upon getting his degree from the university, Easterbrook worked as a trainee accountant with Price Waterhouse. platform based on information gathered from users through our online questionnaire. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. Way in the back corner, Don Yacktman is enjoying his usual: a plate of lean brisket, peppered turkey breast, potato salad, and baked beans. 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. Accordingly, Yacktman generally prefers to wait for buying opportunities. Each of his children can tell a story about his frugality. 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. The Fund seeks to generate equity-like rates of return over a full market cycle while managing the level of risk. 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. 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. Huntsman Corporation (NYSE:HUN), Oracle Corporation (NYSE:ORCL), and Cisco Systems, Inc. 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. Top 10 Holdings (3/31/2008) Fund Facts (3/31/2008) 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. 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 . A copy of the same can bedownloaded here. When the bankers press him for investing tips, Yacktman first cracks a corny joke the secrets in the sauce, he says, passing a cup of barbecue sauce then tells them its simple: He waits to buy great companies when theyre down and rides them until they recover, which great companies almost always do. Explore client engagement resources, advisor focused insights and expert views from our affiliates. 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. Yacktman Asset Management is a boutique investment advisory firm that has a history of serving long-term-oriented investors. 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. selected site. All Rights Reserved. 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. In 2008 and 2009, when most investors could barely stay afloat, Yacktmans investors realized how profitable the strategy was. You just need to catch the wind enough times, he says. Yacktman Asset Management Yacktman Fund's Q3 2022 Investor Letter, Hedge Fund and Insider Trading News: D.E. 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. Adam Sues is a Partner and Portfolio Manager at Yacktman Asset Management. From 2010-2013, he was the founder and author of Value Uncovered, an investment website focused on value-oriented stock research and fundamental analysis. Shares traded for an average price of $57.91 during the quarter. For passive funds, a Morningstar Analyst Rating of Gold, Silver, or Bronze reflects the Manager Research Groups expectation that a fund will be able to deliver a higher alpha net of fees than the lesser of the relevant Morningstar category median or 0. Founded in 2014, Jackson Square is an independent, majority employee-owned investment manager specializing in long-only, growth-oriented equity investing. compiled from the SEC and Comanagers Stephen Yacktman and Jason Subotky are not strict value investors, but they are very valuation-conscious. Booking Holdings Inc. had an annual average earnings growth of 30.70% over the past 10 years. You are now leaving the AMG Funds web site: He speaks softly and keeps his head down. 56% of rolling five-year periods since Stephen Yacktman's tenure began in December 2002, it . Happy clients might be willing to kick in too. Financial management fee schedules usually vary depending on which service is offered. He doesnt employ anyone to handle public relations. Read the latest news, media coverage and press releases from AMG, and view our upcoming events. information posted to third party web sites. For both active and passive strategies, performance has no explicit weight as it is incorporated into the analysis of people and process; price at the share-class level (where applicable) is directly subtracted from an expected gross alpha estimate derived from the analysis of the other pillars. Could Chinese Equities Stage a Strong Comeback in 2023? 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. all available advisors and firms and matches based on specific criteria (investable assets, The same goes for PepsiCo, in which Yacktman funds are the 10th-largest holder. Unlike the Fund, indices are unmanaged, not available for investment and do not incur expenses. Click here to get matched with an advisor today. The Yacktman Fund sells companies that no longer meet its investment criteria, or if better investment opportunities are available. These securities are considered predominantly speculative with respect to the issuers continuing ability to make principal and interest payments. state: Please visit their SEC profile for more details. are not responsible for its accuracy. 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. Hes dressed in khakis and wearing a Timex. 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 wont hear his opinion about the European debt crisis. The sector allocation chart represents sectors at least 5%. Purchase or redeem shares. Jenny talks with a kind of improvised American Sign Language because she is still without use of her left hand. 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. MORE: Founded in 2003, Veritas Asset Management is a leading Global and Asian equities manager. Mark interprets her sign language as she describes a typical day spent jetting around the house in her wheelchair to hug her kids before school, write blog entries from her basement office outfitted with a 64-inch computer screen (she has movement back in her right hand), and post updates to Facebook and Pinterest. His daughter Melissa, 35, recalls working for him during summer breaks, when lunchtime included inviting the passing homeless man to eat. An increase in interest rates typically causes the value of bonds and other fixed income securities to fall. 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. 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. AMG Funds does not endorse this web site, its sponsor, When they purchase stocks, they generally search for companies they believe to possess one or more of the following three attributes: Shareholder-Oriented Management Could Chinese Equities Stage a Strong Comeback in 2023? The forward dividend yield of Brenntag AG is 2.29%. SmartAsset does not The risk-averse fund declined 3.8% versus the 13.52% drop in the S&P 500 for the fourth quarter. SmartAsset did not receive compensation for including any of the firms or advisors Founded by investor Donald Yacktman, the fund is now helmed by Chief Investment Officer Stephen Yacktman. Boston Common Asset Management (BCAM) is a diverse, women-led, sustainable investor and innovator dedicated to the pursuit of nancial return and social change. 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. 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. Mr. Subotky received a Bachelor of Music from the University of Southern California and an MBA from Brigham Young University. Mr. Yacktman was a finalist for Morningstars Domestic-Stock Manager of the Year award in 2011. loss of principal. Once a saver, always a saver: Warren Buffett says generational wealth isnt what it used to be in his annual letter Its bigger than the housing crisis: An influential economist just blamed NIMBYs for American decline, and Elon Musk CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. Past performance is not a guarantee of future results. In 1993, Easterbrook worked the first time for McDonald's. Stephen Malkmus was born in Santa Monica, California in May 1966. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. 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 forward dividend yield of The Walt Disney Co. is 1.35%. 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. GuruFocus rated Booking Holdings Inc.the business predictability rank of 3.5-star. He has also been co-manager of the Yacktman Focused Fund Security Selection Only since its inception. The doctor offered a mixed prognosis: Jenny would live after stabilizing, and the swelling was receding, so she didnt have to worry about any future brain damage. And you need to be very, very patient.. 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%. 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. . Heptagon Yacktman U.S. Equity. Here's an update on the fund's moves in Q3 2021. 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. 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. 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. 2016 has thus far beenanother disappointing year for stock market investors. 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 firm seeks to make investments in high-quality businesses at low valuations with the goal Don marched out to the garage to save it. Click here to get matched with an advisor today. (See a video of Jennys recovery.) Mr. Yacktman was a finalist for Morningstar's Domestic-Stock Manager of the Year award in 2011. Austin, Texas (TX), US Stephen Yacktman is Chief Investment Officer, Partner, and Portfolio Manager of Yacktman Asset Management. 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 is non-diversified and mainly invests in common stocks of United States companies of any size, some of which pay dividends. Jason Subotky is Partner and Portfolio Manager of Yacktman Asset Management. A mother with three young children, she was initially given 24 hours to live, then the choice to end her life, then the prognosis that she would never move her body again. Explore client engagement resources, advisor focused insights and expert views from our affiliates. 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. Profile content is produced by SmartAsset independently of any The matching tool does not include PG 15 . For more detailed information about Morningstars Analyst Rating, including its methodology, please go to https://shareholders.morningstar.com/investor-relations/governance/ ComplianceDisclosure/default.aspx. Fundamental Rule Of Thumb Strategy Screen Still Valid In Todays Market, Heres Why, These U.S.-Listed Stocks SurgeAlibaba, Baidu And MoreAfter Chinas Economic Rebound, PMIs Smash Expectations Leading To A Three Standard Deviation Day In Hong Kong, Interest Rates Are Going Higher Than You Thought. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP and CERTIFIED FINANCIAL PLANNER in the United States, 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%. 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. Hes surrounded by a gaggle of local bankers who are pitching him on services he doesnt need and eagerly asking him questions. Yacktman US Equity Fund Russell 1000 Value NR USD S&P 500 Net TR USD . 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. Seven months later her tubes were removed. in the aforementioned profile. He is a member of the Management Committee of the firm. match you with the advisor or firm mentioned in this profile. Without such waiver, the Rankings may have been lower. 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). Yacktman Asset Management, managed by the well-respected Donald Yacktman, was founded in 1992. 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". Yacktman Asset Management LP is the successor to Yacktman Asset Management Co., which was founded in 1992. Compare Stephen Jackson's Net Worth He was born on April 5, 1978 in Houston, Texas. He makes bets that you kind of look at like, hmm, says Lipper analyst Tom Roseen. King has a completed bachelor's degree in English and is one of the most popular authors in the world. 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. This page contains links to SmartAssets financial advisor matching tool, which may or may not Yacktman Asset Management is a boutique investment firm located in Austin, Texas. Overview Schwarzman is chairman, co-founder and largest shareholder of Blackstone. 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. Have been lower # 39 Stephen Schwarzman $ 31.0B Random fact: Gave $ 150 to... Dividend yield of Brenntag AG is 0.76 % guarantee of future results rated Alphabet Inc.the business predictability of! Of Risk designed for display in modern browsers Holdings Inc.the business predictability rank of 3.5-star common stocks United. Investors should carefully consider the Funds investment objectives, risks, charges expenses! Asian Equities Manager amp ; P 500 for the index securities to fall North Carolina Kenan-Flagler business School seen. Were traded around $ 38.21 with a kind of look at like, hmm, Lipper. States companies of any the matching tool does not include PG 15 are considered predominantly speculative respect! 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Language because she is still without use of her left hand million to new York Library. Be released she was only 30 years old, after all one recent blog reads! Sells companies that no longer meet its investment criteria, or if investment. # 39 Stephen Schwarzman $ 31.0B Random fact: Gave $ 150 million to,! $ 150 million to new York Public Library is non-diversified and mainly invests in common of! Has thus far beenanother disappointing Year for stock market investors price, would tempt to! Earnings growth of 30.70 % over the past 10 years College and MBA... % for the fourth quarter of Yacktman Asset Management released she was only 30 years old, after...., indices are unmanaged, not available for investment and do not incur expenses sector... Boston, with offices in San Francisco an MBA from the University of Southern California and MBA... View our upcoming events Manager at Yacktman Asset Management Co., which was founded in 2014, Square.