Yacktman Asset Management

About

About

Yacktman Asset Management is a boutique investment advisory firm located in Austin, Texas. Since 1992, the firm has navigated multiple market cycles while adhering to a disciplined investment approach led by Stephen Yacktman, Chief Investment Officer. The firm strives to achieve solid risk-adjusted returns over time.

AMG Funds From This Firm

YAFFX

Yacktman Focused Fund

The Fund seeks long-term capital appreciation and, to a lesser extent, current income by primarily investing in common stocks of U.S. companies.

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YACKX

Yacktman Fund

The Fund seeks long-term capital appreciation and, to a lesser extent, current income by primarily investing in common stocks of U.S. companies.

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YASSX

Yacktman Special Opportunities Fund

The Fund seeks long-term capital appreciation through an intrinsic value-oriented investment approach.

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YFSIX

Yacktman Focused Fund - Security Selection Only

The Fund seeks to generate equity-like rates of return over a full market cycle while managing the level of risk.

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Approach & Philosophy

Philosophy & Approach

Our Philosophy

Yacktman Asset Management is a boutique investment advisory firm that has a history of serving long-term-oriented investors. 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. 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.

Our Approach

Yacktman employs a disciplined investment strategy, buying growth companies at what it believes to be low prices. Yacktman believes this approach combines the best features of "growth" and "value" investing. When the firm purchases stocks, it generally searches for companies it believes to possess one or more of three main attributes:

Good Business

  • High market share in principal product and/or service lines
  • A high cash return on tangible assets
  • Relatively low capital requirements, allowing a business to generate cash while growing
  • Short customer-repurchase cycles and long product cycles
  • Unique franchise characteristics

 

Shareholder-Oriented Management

Yacktman believes a shareholder-oriented management does not overcompensate itself and wisely allocates the cash the company generates. Yacktman looks for companies that:

  • Reinvest in the business and still have excess cash
  • Make synergistic acquisitions
  • Buy back stock

 

Low Purchase Price
 

  • 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. Accordingly, Yacktman generally prefers to wait for buying opportunities. Such opportunities do not always occur in correlation with overall market performance trends

News & Events

Webinar | 7/26/2018

Yacktman Funds Quarterly Update

Yacktman Asset Management will be joining AMG Funds for an upcoming webinar discussing quarterly updates to the AMG Yacktman Fund (YACKX) and the AMG Yacktman Focused Fund.
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Fund Managers

Fund Managers

Stephen A. Yacktman

Stephen A. Yacktman

Partner, Chief Investment Officer, Portfolio Manager

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Jason S. Subotky

Jason S. Subotky

Partner, Portfolio Manager

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Adam P. Sues

Adam P. Sues

Partner, Portfolio Manager

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Insights

Insights

The Next Inflection Point? A Conservative Approach for U.S. Equity Investors

The U.S. equity market has benefited from a strong rally lasting nearly 9 years. During this time, U.S. equity valuations have inflated and decoupled from other developed markets. This insight presents a potential solution to help investors seeking U.S. equity exposure while managing the risk of a potential downturn.
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FA Magazine: A Time for Caution

During turbulent times, it is important to have a manager with a proven track record and experience in successfully investing through multiple market cycles. This article by FA Magazine analyzes the AMG Yacktman Fund's investment strategy and performance in volatile markets.
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The Pitfalls of Emotional Investing and How to Avoid Them

Knee-jerk reactions to market fluctuations can lead to buying high and selling low, making it difficult to stay on track and achieve long-term financial goals. Remaining invested in a diversified portfolio for the long-term can help avoid the pitfalls of emotional investing.
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