When the firm purchases stocks, it generally searches for companies it believes to possess one or more of three main attributes: Yacktman believes a shareholder-oriented management does not overcompensate itself and wisely allocates the cash the company generates. They are a trusted partner to institutional investors globally, providing mutual fund and separate account management. The 71-year-old with a broad build and bald pate is thriving in the slumping, post-crisis world of stock mutual funds. The existence of a fiduciary duty does not prevent the rise of potential conflicts of interest. 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). The business offers a wide assortment of services, including portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled investment vehicles and portfolio management for institutional clients. Discover how the boutique advantage helps generate alpha. Founded in 1967, Beutel, Goodman & Company Ltd. (BG) is an independent value-focused investment manager that serves institutional, private wealth, and retail clients. MORE: 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. 10. 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. 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. Attracting and retaining skilled, passionate people in the investment management field is the key to our success. GW&Ks founding principles of applying rigorous fundamental research, focusing on quality, and maintaining a long-term view still guide its investment process today. In 1993, Easterbrook worked the first time for McDonald's. The fund gained 2,693,333 shares of Fox Corp., occupying 1.73% of the portfolio. Don built this house for her so she could enjoy beautiful views while confined to a bed. Sign up for independent thinking, blogs, and product updates that matter most to you. Click here to get matched with an advisor today. The fund may invest up to 30% of its assets in foreign . However, fee types charged by Yacktman Asset Management Lp most likely are comprised of any blend of asset-based and performance-based fees. This story is from the December 24, 2012 issue ofFortune. He has survived financial bubbles, crises, even a former boards attempt to drive him out of his own fund company. The firm was founded upon a proprietary Absolute Value investment discipline. He thinks back to how close he was to losing his daughter. Founded in 2003, Veritas Asset Management is a leading Global and Asian equities manager. Access to ADV forms, account maintenance, and applications, Access to distributions, tax resources, and form 8937, Media Coverage | YACKTMAN ASSET MANAGEMENT, | Stephen A. Yacktman, Jason S. Subotky, Adam P. Sues. Yacktman Asset Management is an Austin, Texas-based investment firm with a focus on value equity investing. 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. Age, Height, and Weight Being born on 6 August 1967, Steve Easterbrook is 55 years old as of today's date 28th February 2023. GuruFocus rated Booking Holdings Inc.the business predictability rank of 3.5-star. We do not manage client funds or hold custody of assets, we help users connect with relevant financial The firm strives to achieve solid risk-adjusted returns over time. To get all of the top stock picks from Brian Yacktman read the entire 4,288 word interview, exclusively in the Wall Street Transcript. 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. Sorry, no results has been found matching your query. Any investor should consider What If There Is No Tomorrow? Investment Strategy. selected site. Sign up for independent thinking, blogs, and product updates that matter most to you. FORTUNE may receive compensation for some links to products and services on this website. In 2006 he was named Co-Chief Investment Officer and Senior Vice President of Yacktman Asset Management. The forward dividend yield of The Walt Disney Co. is 1.35%. . It also may invest in foreign equity securities, including emerging market securities, and debt securities. They gave her 24 hours to live. advisors. 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. (See a video of Jennys recovery.) You are now leaving the AMG Funds web site: 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. Father and son couldnt be more different. The Yacktman Fund sells companies that no longer meet its investment criteria, or if better investment opportunities are available. The doctor told Mark she had two choices: have her feeding tube removed and eventually die, or live with an uncertain future. 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. Stephen Yacktman is a financial advisor working out of Austin, Texas, who has been in the financial industry for 26 years. Since inception, it returned 10.17% versus 9.2% for the index. For performance information through the most recent month end please call 800.548.4539. Tracing its history back to 1946, Montrusco Bolton Investments Inc. is a private investment management firm. The Ranking may reflect the waiver of all or a portion of the funds fees. 56% of rolling five-year periods since Stephen Yacktman's tenure began in December 2002, it . But nothing prepared him for this. Related News Brian Yacktman and Elliott Savage: the Network . Many of his books have been shown on the TV screens as "IT" and "The Shining". 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. Homes - Celebrity - Business By: jdubble07 Advertisement Celebrity Homes Mailing List Owner: yacktman stephen Total Market Value: $505,099 +Edit Past Address 2509 Pearce Rd, AUSTIN, TX 78730-4256 View Address Property Lot Size: 1.49 AC Owner: yacktman stephen & ellyn Total Market Value: $211,968 +Edit Past Address Manana St, AUSTIN, TX 78730 View Address Property Lot Size: 1.12 AC Owner: yacktman stephen & ellyn Yacktman is one of the worlds most successful mutual fund managers, yet you would never know it. financial advisors nearby, we ask you a series of questions about your retirement plans, life 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. Her recovery has surprised doctors, her family, and, despite her conviction, maybe even herself. 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. 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 There are no guarantees that working with an adviser will yield positive returns. Overnight it became clear the drugs werent working. The trailing 12-month dividend yield of Brenntag AG is 2.29%. information posted to third party web sites. 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. Market RiskMarket prices of investments held by the Fund may fall rapidly or unpredictably due to a variety of economic or political factors, market conditions, disasters or public health issues, or in response to events that affect particular industries or companies. The stocks fourth-quarter share price averaged $1,785. According to Yacktman Asset Management's last two 13F filings, the value of its 13F portfolio dropped by 14% to $9.64 billion at the end of June from $11.2 billion at the end of the first . What Happens When Corporate Earnings Fall? is registered with the U.S. Securities and Exchange Commission as an investment adviser. 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. 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. For this and other information, please call 800.548.4539 or visit www.amgfunds.com for a free prospectus. In the United States, that subsidiary is Morningstar Research Services LLC, which is registered with and governed by the U.S. Securities and Exchange Commission. BlackBerry-maker RIM is an even smaller position in the portfolio but one that has already proved rewarding. He speaks softly and keeps his head down. The Morningstar Analyst Rating (i) should not be used as the sole basis in evaluating a fund, (ii) involves unknown risks and uncertainties which may cause the Manager Research Groups expectations not to occur or to differ significantly from what they expected, and (iii) should not be considered an offer or solicitation to buy or sell the fund. Past performance is no guarantee of future results. 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. TheYacktman Fundseeks good businesses with shareholder-oriented management and trading prices below what an investor would pay for the entire company. Since AMG Yacktman I made its debut in July of 1992, YACKX has garnered more than $6.47 billion in assets. Explore client engagement resources, advisor focused insights and expert views from our affiliates. Fox Corp. has a market cap of $23.95 billion; its shares were traded around $38.84 Wednesday with a price-earnings ratio of 24.92. See our most recent investment and planning ideas. Explore client engagement resources, advisor focused insights, and expert views from our affiliates. Attracting and retaining skilled, passionate people in the investment management field is the key to our success. 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. Stephen Yacktman was nominated for Morningstar's Domestic Stock Fund Manager of the Year - 2011. . Wall Street experts where to make money in 2013. View Stephen Yacktman's business profile as Partner and Chief Information Officer and Portfolio Manager at Yacktman Asset Management. The named financial professional and firm have not reviewed, approved, or endorsed this profile and He has also been co-manager of the Yacktman Focused Fund - Security Selection Only since its inception. For most of the past decade his son Steve, an equal partner in the firm since 1999, has managed the funds on a day-to-day basis. For performance information through the most recent month end please call 800.548.4539. the site, or by any advertiser on the site. With her straight blond hair, striped shirt, and corduroy pants, she looks like an L.L. As of 12/31/2022. 7,745 views Unrated Categories Buildings > Homes - Celebrity - Business Comments Policies Will Weatherford International plc (WFRD) Continue its Growth? Basic Info. in the aforementioned profile. View your account balance and transaction history. This profile may include a firm or advisor that has a business relationship with SmartAsset, in 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. Access your AMG Funds account. Yacktman looks for companies that: Yactkmans Jason Subotky and Adam Sues discuss their eclectic approach to value and how they manage their storied fund. Opinions expressed by Forbes Contributors are their own. This approach was developed by River Roads founders and occupies a distinct niche within value investing styles. RECOMMENDED FOR. Don marched out to the garage to save it. In 2008 and 2009, when most investors could barely stay afloat, Yacktmans investors realized how profitable the strategy was. From 2010-2013, he was the founder and author of Value Uncovered, an investment website focused on value-oriented stock research and fundamental analysis. 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. The fund gained 2,040,441 shares of The Walt Disney Co., which occupied 4.07% of the portfolio. Your browser is not currently supported. The stock has since risen to $12. The Yacktman Fund gained seven new positions in the first quarter, though some came from changes in its existing companies. Yacktman owned conservative names like P&G heading into the crisis. The risk-averse fund declined 3.8% versus the 13.52% drop in the S&P 500 for the fourth quarter. 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. Yacktman Portfolio Manager Adam Sues discusses timeless lessons from an early sales job that informed and inspired his early interest in value investing. He then moved himself and his entire business there too. https://shareholders.morningstar.com/investor-relations/governance/ ComplianceDisclosure/default.aspx. Stephen Yacktman is a financial advisor working out of Austin, Texas, who has been in the financial industry for 26 years. Itd be me, my dad, and a homeless guy at Wendys, she says. 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 Jason is a co-manager for AMG Yacktman Focused Fund and AMG Yacktman Fund and is a member of the Management Committee. Shares traded for an average price of $57.91 during the quarter. Billionaire investing legend Donald Yacktmanis increasingly pulling money out ofU.S. equities. Seven months later her tubes were removed. 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). 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. Jason Subotky is Partner and Portfolio Manager of Yacktman Asset Management. 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. Access your AMG Funds account. At first quarter-end, it held 35 stocks valued at $5.57 billion. business relationships that might exist between SmartAsset and the named financial professional and which SmartAsset is compensated for lead referrals. Download or order product information and regulatory documents. 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. Bridgewater Associates held 6,615,453 shares at the end of the third calendar quarter. Jason Subotky, a former Goldman Sachs (GS) star asset manager and now co-manager of Yacktmans funds, heard the dire prognosis and arranged for Jenny to be seen by a top neurological doctor at Cleveland Clinic, where his friends had made charitable donations. 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 Yacktman looks for a stock that sells for less than what an investor would pay to buy the whole company. Mr. Subotky received a Bachelor of Music from the University of Southern California and an MBA from Brigham Young University. When they purchase stocks, they generally search for companies they believe to possess one or more of the following three attributes: Shareholder-Oriented Management Explore client engagement resources, advisor focused insights, and expert views from our affiliates. 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. choosing a financial advisor. Stephen Yacktman is Chief Investment Officer, Partner, and Portfolio Manager of Yacktman Asset Management. Future Holdings Risk: Any sectors, industries or securities discussed should not be perceived as investment recommendations. For active funds, a Morningstar Analyst Rating of Gold, Silver, or Bronze reflects the Manager Research Groups expectation that an active fund will be able to deliver positive alpha net of fees relative to the standard benchmark index assigned to the Morningstar category. His height is 1.68 m tall, and weight is 70 kg. Top 10 Holdings (3/31/2008) Fund Facts (3/31/2008) This isnt Warren Buffett holding court at Piccolo Petes, but its close. 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. AMG takes a cut of fees but doesnt meddle in operations.). 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. Of its 780 accounts, 99% are held by high-net-worth investors who have at least $1 million in assets available to invest. Career Upon getting his degree from the university, Easterbrook worked as a trainee accountant with Price Waterhouse. . 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 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. responsibility for the accuracy or factual correctness of any S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. 15 top stock picks from star investors. SmartAsset Advisors, LLC ("SmartAsset"), a wholly owned subsidiary of Financial Insight Technology, All rights reserved. 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. The fund purchased 100,000 shares of Alphabet Inc., giving it 2.11% portfolio weight. De Georgia, professor of neurology at Case Western Reserve University School of Medicine and her doctor at the Cleveland Clinic. Past performance is not a guarantee of future results. You dont need to jump in and out of stocks, he tells them. He graduated from Brigham Young University with an economics degree and MBA. Yacktman Asset Management Lp is a financial advisory company that has its headquarters in Austin, Texas. You are now leaving the AMG Funds web site: I told them, If it runs into the seven digits, you guys can cover the overages,' he says with a laugh. Stephen Yacktman helms the $5.57 billion portfolio that was begun by legendary investor Donald [+] Yacktman. All investing involves risk, including 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. AMG Yacktman Global N 8.5 10. The firm seeks to make investments in high-quality businesses at low valuations with the goal Founded in 2014, Jackson Square is an independent, majority employee-owned investment manager specializing in long-only, growth-oriented equity investing. Yacktman believes this approach combines the best features of growth and value investing. TimesSquare is a growth equity specialist. Terms & Conditions. 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". Please use the latest version of Chrome, Opera, Firefox, Safari or Edge. Unlike the Fund, indices are unmanaged, not available for investment and do not incur expenses. But she has plenty of support. Profile content is produced by SmartAsset independently of any redeemed, may be worth more or less than their original cost. 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. Heres Why, 3 Surging Dividends You Do Not Want To Miss Out On, United Parcel Service A Top Socially Responsible Dividend Stock With 3.5% Yield, What To Look For In The February Consumer Price Inflation Numbers, Student Debt Snafu Shows The Danger Of Blending Public Good And Profit. Powered and implemented by Interactive Data Managed Solutions. He doesnt employ anyone to handle public relations. He is an early founder of 1-800-CONTACTS and served on the board . Theres an industrial-size kitchen and a gleaming lobby entrance. Financial management fee schedules usually vary depending on which service is offered. Purchase or redeem shares. net outflows have caused the firm and its affiliates to liquidate or merge subscale . Our Team Stephen Yacktman Jason Subotky Russell Wilkins Adam Sues Molly Pieroni Chase Frock, CFA Brandt Dusthimer, CFA Jon Danielson Donald Yacktman Copyright 2023 AMG Funds LLC. For example, they recently loaded up again on Procter & Gamble, which Steve says is at the tail end of a cycle of contracting margins. Booking Holdings Inc. had an annual average earnings growth of 30.70% over the past 10 years. state: Please visit their SEC profile for more details. Brenntag AG had an annual average earnings growth of 3.80% over the past 10 years. Don, his wife, and almost their entire family are nearby. The firms equity strategies use bottom-up, fundamental research to invest in high-quality companies trading at discounts to their business value. Get our editors daily picks straight in your inbox! The content in this profile was updated by SmartAsset on 04/01/2022 using publicly available data Yacktman Asset Management LP is the successor to Yacktman Asset Management Co., which was founded in 1992. The performance data shown represents past performance. Alphabet Inc. had an annual average earnings growth of 15.30% over the past 10 years. The firm manages both funds and segregated portfolios for institutional and retail investors globally. Yacktman Asset Management, managed by the well-respected Donald Yacktman, was founded in 1992. The investment team aims to be objective, patient, and diligent, and makes investment decisions based on the merits of individual securities rather than trying to forecast the market. Purchase or redeem shares. Yacktman Asset Management is a boutique investment firm located in Austin, Texas. 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. This website is designed for display in modern browsers. A copy of the same can bedownloaded here. Don got the news the next morning on a call from his daughter Melissa. 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. On March 16, 2004, Don got a call from his daughters husband, Mark, who told him that Jenny had suffered a minor stroke. 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. Compare Stephen Jackson's Net Worth He was born on April 5, 1978 in Houston, Texas. A trainee accountant with price Waterhouse founder and author of value Uncovered, an investment website focused on investment! 1946, Montrusco Bolton Investments Inc. is a boutique investment firm with a focus on value equity investing stephen yacktman net worth this... Gleaming lobby entrance, post-crisis world of stock mutual funds first quarter, though some came from changes in existing..., Easterbrook worked as a trainee accountant with price Waterhouse Veritas Asset Management Lp is financial. % drop in the financial industry for 26 years editors daily picks straight in inbox! A boutique investment firm located in Austin, Texas in your inbox may in. For performance information through the most recent month end please call 800.548.4539. the,... Quarter, though some came from changes in its existing companies an L.L also may in. 2003, Veritas Asset Management Lp most likely are comprised of any blend of asset-based performance-based... And portfolio Manager of Yacktman Asset Management Lp most likely are comprised of redeemed. Average earnings growth of 30.70 % over the past 10 years, results. Fortune may receive compensation for some links to products and services on this website designed... 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