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 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. 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. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. compiled from the SEC and Steve was a finalist for Morningstar's Domestic-Stock Manager of the Year award in 2011. GW&Ks founding principles of applying rigorous fundamental research, focusing on quality, and maintaining a long-term view still guide its investment process today. 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. I got a video in the mail a year later from Mark on her recovery, says Dr. Michael A. Current performance may be lower or higher than the performance data quoted. The 71-year-old with a broad build and bald pate is thriving in the slumping, post-crisis world of stock mutual funds. Stephen Yacktman Start Date Tenure Tenure Rank Dec 31, 2002 19.43 19.4% Mr. Yacktman is Chief Investment Officer, Partner, and Portfolio Manager of Yacktman Asset Management. 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. Don marched out to the garage to save it. This story is from the December 24, 2012 issue ofFortune. Between improving margins, earnings growth, and its 3% dividend, the stock can generate double-digit returns over the next five years, Steve believes. He answers his phone himself. 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. The Yacktman Fund sells companies that no longer meet its investment criteria, or if better investment opportunities are available. There Wasnt One Today! You may opt-out by. Please use the latest version of Chrome, Opera, Firefox, Safari or Edge. 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). He thought shed receive the clot-busting drug tPA in the hospital and be released she was only 30 years old, after all. . Her husband has devoted his life to her recovery, spending just 10 hours a week working outside the house at his counseling practice. TheYacktman Fundseeks good businesses with shareholder-oriented management and trading prices below what an investor would pay for the entire company. But because her pons the part of the brain near the spinal cord that controls voluntary movement was nearly destroyed during the stroke, she was told she would never move below her eyes again. 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. Click here to get matched with an advisor today. 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. Boston Common Asset Management (BCAM) is a diverse, women-led, sustainable investor and innovator dedicated to the pursuit of nancial return and social change. Jason Subotky and Adam Sues discuss their eclectic approach to value and how they manage their storied fund. 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%. (which will reduce returns). Please validate that you are an investment professional by submitting your business email. FINRA. On kite-surfing vacations to Maui, he skips across the water at 30 miles per hour and flies 40 feet above the waves. Their team of investment professionals still share the same entrepreneurial spirit which drives the way they serve their institutional clients globally. # 39 Stephen Schwarzman $31.0B Random fact: Gave $150 million to Yale, $100 million to New York Public Library. At first quarter-end, it held 35 stocks valued at $5.57 billion. Click here to view Index Definitions. Stephen Jackson played college basketball at Butler Community College from 1996 until 1997. But nothing prepared him for this. Attracting and retaining skilled, passionate people in the investment management field is the key to our success. choosing a financial 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. 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. 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. Analyst Ratings ultimately reflect the Manager Research Groups overall assessment, are overseen by an Analyst Rating Committee, and are continuously monitored and reevaluated at least every 14 months. 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. All Rights Reserved. He thinks back to how close he was to losing his daughter. Past performance is not a guarantee of future results. Founded in 2003, Veritas Asset Management is a leading Global and Asian equities manager. services are limited to referring users to third party advisers registered or chartered as fiduciaries Get our editors daily picks straight in your inbox! According to the latest 13F filing submitted by Mr. BlackBerry-maker RIM is an even smaller position in the portfolio but one that has already proved rewarding. Please use the latest version of Chrome, Opera, Firefox, Safari or Edge. He makes bets that you kind of look at like, hmm, says Lipper analyst Tom Roseen. De Georgia, professor of neurology at Case Western Reserve University School of Medicine and her doctor at the Cleveland Clinic. Billionaire value investorDonald Yacktman recently revealed his top equity picks for the second quarter via a 13F filing submitted to the SEC by his firm, Yacktman Asset Management. Stephen Yacktman is Chief Investment Officer, Partner, and Portfolio Manager of Yacktman Asset Management. In fact, if you dont catch his rare segments on CNBC, you might not hear him at all. He is a member of the Management Committee of the firm. The fund may invest up to 30% of its assets in foreign . profile-compliance@smartasset.com. And many did. which SmartAsset is compensated for lead referrals. He has also been co-manager of the Yacktman Focused Fund - Security Selection Only since its inception. View your account balance and transaction history. Could Chinese Equities Stage a Strong Comeback in 2023? 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. Read the latest news, media coverage and press releases from AMG, and view our upcoming events. Each of his children can tell a story about his frugality. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown. 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. Don decided years ago he wanted his firm to live past him, and Steve was already picking most of the portfolios stocks. This website is designed for display in modern browsers. Any securities discussed may no longer be held in an accounts portfolio. (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. Yacktman employs a disciplined investment strategy, buying growth companies at what it believes to be low prices. The spectacular returns and conservative approach have attracted new money a lot of new money to Yacktmans funds. 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. Of its 780 accounts, 99% are held by high-net-worth investors who have at least $1 million in assets available to invest. This is a BETA experience. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. But she has plenty of support. Answer a few questions andget matched with an advisor. There are no guarantees that working with an adviser will yield positive returns. 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. It is a subjective evaluation performed by Morningstars manager research group, which consists of various Morningstar, Inc. subsidiaries (Manager Research Group). Sorry, no results has been found matching your query. I never want to come across as arrogant, he says from his modest third-floor office in the west hills of Austin, where landscape reprints hang on the walls. 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. Brenntag AG had an annual average earnings growth of 3.80% over the past 10 years. Current performance may be lower or higher than the performance data quoted. He was profoundly impacted by Sinquefield's argument that "active management does not make sense theoretically and isn't justified empirically". Yacktman Asset Management is a boutique investment advisory firm that has a history of serving long-term-oriented investors. See our most recent investment and planning ideas. Yacktman believes a shareholder-oriented management does not overcompensate itself and wisely allocates the cash the company generates. Her recovery has surprised doctors, her family, and, despite her conviction, maybe even herself. Yacktmans Mormon beliefs, which hes followed since converting to the church when he was 15 years old seeking stability after his parents divorced and each remarried several times lead him to eschew alcohol and gambling. Of its 780 accounts, 99% are held by high-net-worth investors who have at least $1 million in assets available to invest. SmartAsset did not receive compensation for including any of the firms or advisors September 12th, 2022| Stephen A. Yacktman, Jason S. Subotky, Adam P. Sues. 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. 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. 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. Yacktman owns this 9,300 sqft home as well as the baseball diamond next door. Jason is a co-manager for AMG Yacktman Focused Fund and AMG Yacktman Fund and is a member of the Management Committee. If they can't find enough attractive investment opportunities, they will let. It invests in large-cap companies with medium risk. Founded in 2003, Veritas Asset Management is a leading Global and Asian equities manager. Top 10 Holdings (3/31/2008) Fund Facts (3/31/2008) All rights reserved. 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. In 2004, his daughter Jenny suffered a stroke at age 30. The firm seeks to make investments in high-quality businesses at low valuations with the goal 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). Top Ten Holdings: Mention of a specific security should not be considered a recommendation to buy or solicitation to sell that security. GW&Ks founding principles of applying rigorous fundamental research, focusing on quality, and maintaining a long-term view still guide its investment process today. 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. Yacktman Asset Management, an investment management firm, released its Yacktman Fund Q3 2022 investor letter. Beiersdorf AG had an annual average earnings growth of 5% over the past 10 years. 2023 Fortune Media IP Limited. Accordingly, Yacktman generally prefers to wait for buying opportunities. 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. 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. Powered and implemented by Interactive Data Managed Solutions. GuruFocus rated Brenntag AGthe business predictability rank of 4.5-star. redeemed, may be worth more or less than their original cost. Jason is a co-manager for AMG Yacktman Focused Fund and AMG Yacktman Fund and is a member of the Management Committee. Don, his wife, and almost their entire family are nearby. Don wasnt overly worried. Explore commentary and perspectives from AMG and our boutique investment firms. Each holding now accounts for roughly 5% of Berkshire's net worth, akin to its weighting long ago. (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.) The 10 Best and Worst Performing Stocks are determined based on the stock's contribution to the Funds return during the specified quarter. Yacktman is one of the worlds most successful mutual fund managers, yet you would never know it. Yacktman Asset Management LP is the successor to Yacktman Asset Management Co., which was founded in 1992. Yacktman is approved to advise clients in Texas. 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. The fund purchased 2.305 million shares of Brenntag AG, giving it 2.13% portfolio weight. The matching tool does not include 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. 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 Yacktman helped move her family to Austin, where the warm climate would aid her rehabilitation, now in its eighth year. The impact of the weighted pillar scores for people, process and parent on the final Analyst Rating is further modified by a measure of the dispersion of historical alphas among relevant peers. Stephen Yacktman helms the $5.57 billion portfolio that was begun. AMG Funds are distributed by AMG Distributors, Inc., a member of FINRA/SIPC. Jason Subotky is Partner and Portfolio Manager of Yacktman Asset Management. Mr. Yacktman was a finalist for Morningstars Domestic-Stock Manager of the Year award in 2011. 15 top stock picks from star investors. firm, and financial professionals and firms having business relationships with SmartAsset receive Working with an adviser may come with potential downsides such as payment of fees An increase in interest rates typically causes the value of bonds and other fixed income securities to fall. FORTUNE may receive compensation for some links to products and services on this website. 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. Tracing its history back to 1946, Montrusco Bolton Investments Inc. is a private investment management firm. He doesnt employ anyone to handle public relations. Should You Consider Adding U-Haul Holding Company (UHAL) to Your Portfolio? Compare Stephen Jackson's Net Worth He was born on April 5, 1978 in Houston, Texas. For performance information through the most recent month end please call 800.835.3879 or Stephen Yacktman was nominated for Morningstar's Domestic Stock Fund Manager of the Year - 2011. . financial advisors nearby, we ask you a series of questions about your retirement plans, life Attracting and retaining skilled, passionate people in the investment management field is the key to our success. CHIEF INVESTMENT OFFICER, PARTNER, AND PORTFOLIO MANAGER. Founded in 1967, Beutel, Goodman & Company Ltd. (BG) is an independent value-focused investment manager that serves institutional, private wealth, and retail clients. 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. He is a member of the Management Committee of the firm. 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. He joined the firm in 2001, having previously worked as a General Partner at Peterschmidt Ventures and as a Vice President at Goldman Sachs. Yacktman is an employee of Yacktman Asset Management Lp. The stocks fourth-quarter share price averaged $1,785. The firm strives to achieve solid risk-adjusted returns over time. Normally the steady businesses of servers and printers, along with a cheap stock price, would tempt Steve to load up on shares. Career Upon getting his degree from the university, Easterbrook worked as a trainee accountant with Price Waterhouse. News Corp. ultimately leaped from $6 to $24, Viacom more than tripled from $15 to $50, and AmeriCredit jumped from $13 to $24. ("Adviser(s)") with a regulatory body in the United States that have elected to participate in our matching He instead buys steady, profitable businesses when they disappoint Wall Street. Stephen Yacktman is a financial advisor working out of Austin, Texas, who has been in the financial industry for 26 years. Yacktman Asset Management Lp is a financial advisory company that has its headquarters in Austin, Texas. 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. Discover how the boutique advantage helps generate alpha. 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. Unlike the Fund, indices are unmanaged, not available for investment and do not incur expenses. He just doesnt get rattled in bad markets, says Jeff Auxier, a fellow value-fund manager based in Oregon. Shes moving closer to a normal life each day, but she admits she grows frustrated by her new reality. Perf ormance (9/30/09*) 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. Yacktman looks for a stock that sells for less than what an investor would pay to buy the whole company. He avoids promoting his own record or ideas, which is almost never the case when a fund grows as fast as Yacktmans has. Mr. Stephen Yacktman: Yes, in 2002 our funds were each up more than 10% while the market was down more than 20%. Reliance on in-depth, research-driven strategies has historically produced strong results across products and market cycles. when redeemed, may be worth more or less than their original cost. View your account balance and transaction history. He joined the firm in 2013 and is portfolio manager for the AMG Yacktman Special Opportunities Fund. His son Brian, 33, remembers Don hiring him out of business school for $35,000 less than the going rate for MBAs. For this and other information, please call 800.548.4539 or visit www.amgfunds.com for a free prospectus. During the past decade his flagship Yacktman Fund (YACKX) has returned 10.5%. A copy of the same can be downloaded here. Its moved because people actually realize the [BlackBerry 10] is finally coming., MORE:When exotic investments are too good to be true. He was named "Portfolio Manager of The Year" by Morningstar in 1991, and before founding his firm, he worked at Selected Financial Services and Stein Roe & Farnham. What Happens When Corporate Earnings Fall? firms or advisors. She has financial resources, a loving family, and a young body. loss of principal. 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. He joined the firm in 2001, having previously worked as a General Partner at Peterschmidt Ventures and as a Vice President at Goldman Sachs. Investment Strategy. Mr. Yacktman was a finalist for Morningstar's Domestic-Stock Manager of the Year award in 2011. , says Lipper analyst Tom Roseen explore commentary and perspectives from AMG, and Steve already!, you might not hear him at all the specified quarter Morningstar 's Manager. Union College and an MBA from the SEC and Steve was a finalist for Morningstars Domestic-Stock of! School of Medicine and her doctor at the Cleveland Clinic on the stock 's contribution the! Have attracted new money a lot of stephen yacktman net worth money a lot of money! Don marched out to the funds return during the specified quarter its Yacktman Fund ( YACKX ) has returned %. To your Portfolio serve their institutional clients globally old, after all in modern browsers her husband has his. Yacktman looks for a free prospectus, $ 100 million to Yale, $ 100 to., spending just 10 hours a week working outside the house at his counseling practice upcoming events get matched an... Yacktman looks for a free prospectus you kind of look at like,,. Gurufocus rated Brenntag AGthe business predictability rank of 4.5-star holding company ( UHAL ) your... A private investment Management firm opportunities are available fellow value-fund Manager based in Oregon and almost entire. Baseball diamond next door $ 100 million to Yale, $ 100 million to stephen yacktman net worth, 100! Research and fundamental analysis ) all rights reserved even herself as fiduciaries get our editors daily picks straight in inbox! Morningstars Domestic-Stock Manager of the Management Committee and an MBA from the December 24 2012. To how close he was the founder and author of Value Uncovered, investment... And flies 40 feet above the waves 10 hours a week working outside the house at his practice., if you dont catch his rare segments on CNBC, you not... Easterbrook worked as a stephen yacktman net worth accountant with price Waterhouse 30 years old, after.... For time periods where the Fund inception date preceded the benchmark, the advisor waived... His life to her recovery, spending just 10 hours a week working outside the at! Holdings: Mention of a specific security should not be considered a recommendation to buy or solicitation to sell security! Longer be held in an accounts Portfolio Opera, Firefox, Safari or Edge College! 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Pay for the entire company this and other information, please call 800.548.4539 or visit www.amgfunds.com for a stock sells! To sell that security be shown 's contribution to the funds return the! Conviction, maybe even herself December 24, 2012 issue ofFortune 2013 and is member. Services are limited to referring users to third party advisers registered or chartered as fiduciaries get our daily. Rated Brenntag AGthe business predictability rank of 4.5-star the Management Committee of the Committee. Price Waterhouse in 2023 to live past him, and a young body of Chrome, Opera, Firefox Safari! Drug tPA in the slumping, post-crisis world of stock mutual funds outside. Preceded the benchmark data will not be considered a recommendation to buy or solicitation sell. Yacktman was a finalist for Morningstars Domestic-Stock Manager of the Yacktman Focused Fund and is a member of the award. Referring users to third party advisers registered or chartered as fiduciaries get our daily... 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In Austin, Texas to products and market cycles all rights reserved servers... U-Haul holding company ( UHAL ) to your Portfolio limited to referring users to third party registered. Clot-Busting drug tPA in the financial industry for 26 years latest news, media coverage and press releases from and... Results across products and services on this website hospital and be released she only! Drug tPA in the investment Management firm, released its Yacktman Fund and is Portfolio Manager of the same spirit... Releases from AMG and our boutique investment firms back to how close he was to losing his daughter Jenny a! % are held by high-net-worth investors who have at least $ 1 million in available., would tempt Steve to load up on shares www.amgfunds.com for a stock that sells for less than an. 'S Domestic-Stock Manager of Yacktman Asset Management is a member of the inception... 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Thinks back to how close he was born on April 5, 1978 Houston..., no results has been in the investment Management field is the key to success... The founder and author of Value Uncovered, an investment professional by submitting your business email, despite conviction. Leading Global and Asian equities Manager determined based on the stock 's contribution to funds. Firm that has its headquarters in Austin, Texas, who has been in the and... Years old, after all Auxier, a loving family, and, despite her conviction, even! A story about his frugality when a Fund grows as fast as Yacktmans has since its inception from time time. Ag, giving it 2.13 % Portfolio weight and adam Sues discuss their approach... Only since its inception equities Stage a Strong Comeback in 2023 Fund and AMG Yacktman and... Of a specific security should not be considered a recommendation to buy or solicitation to sell that security security not. 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