Yacktman Focused Fund

Yacktman Focused Fund

Last Update: 10-14-2016
Related: Donald Yacktman
Yacktman Fund

Number of Stocks: 20
Number of New Stocks: 0

Total Value: $3,731 Mil
Q/Q Turnover: 1%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Yacktman Focused Fund' s Profile & Performance

Profile

The Yacktman Focused Fund seeks long-term capital appreciation, and, to a lesser extent, current income. The Fund is non-diversified and mainly invests in common stocks of United States companies of any size, some, but not all of which, pay dividends. 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 they purchase stocks they generally search for companies they believe to possess one or more of the following three attributes: (1) good business; (2) shareholder-oriented management; or (3) low purchase price.

We also trade Yacktman's 13F filing, which is filed under Donald Yacktman.

Web Page:http://investor.managersinvest.com/investment/yacktman_fund.html?cmpid=ELK_YAM_YACKX

Investing Philosophy

Good Business

A good business may contain one or more of the following:

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; and
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; and
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.

Historical Allocation of Stock, Bonds, Cash

Total Holding History

Performance of Yacktman Focused Fund

YearReturn (%)S&P500 (%)Excess Gain (%)
2015-5.091.19-6.3
201410.6713.69-3.0
201327.0132.39-5.4
3-Year Cumulative33.4 (10.1%/year)52.3 (15.1%/year)-18.9 (-5%/year)
201210.5716-5.4
20117.412.115.3
5-Year Cumulative58.4 (9.6%/year)80.4 (12.5%/year)-22 (-2.9%/year)
201011.8415.06-3.2
200962.7626.4636.3
2008-23.48-3713.5
20073.465.49-2.0
200616.1315.790.3
10-Year Cumulative165.2 (10.2%/year)102 (7.3%/year)63.2 (2.9%/year)
2005-1.834.91-6.7
20049.9610.88-0.9
200331.7928.683.1
200214.99-22.137.1
200117.14-11.8929.0
15-Year Cumulative408.1 (11.4%/year)107.5 (5%/year)300.6 (6.4%/year)
20006.61-9.115.7
1999-21.8921.04-42.9
19984.428.58-24.2
199715.4133.36-18.0

Top Ranked Articles

Yacktman Funds Comments on Twenty-First Century Fox Guru stock highlight
Fox (NASDAQ:FOXA)’s shares underperformed during the quarter as the company continued to face several challenges, including currency headwinds, underperformance in its movie business, general concerns over changes in the media industry and weakness in its stockholding in SKY, Plc after the Brexit vote. We think Fox’s shares are significantly undervalued at current prices. Read more...
Top 5 Stocks of Donald Yacktman's First Special Situation Fund Newer fund looks for deep value with a catalyst, beat market
After years of maintaining two similar funds, Yacktman Asset Management, founded by Donald Yacktman (Trades, Portfolio), veered from its usual staid course in 2014 in opening its Special Opportunities Fund to pursue investments with a catalyst. The kind of stocks the fund wants and a little about its returns are starting to show now after its second year of life. Read more...
Yacktman Funds Comments on Johnson & Johnson Guru stock highlight
JNJ (NYSE:JNJ) performed well in the second quarter after delivering solid results. Few companies have the financial strength and product diversity of JNJ, which is why it is one of only two companies in the United States (Microsoft is the other) that commands a triple-A credit rating. We think JNJ can deliver solid growth and strong free cash flow over time. Read more...
Yacktman Funds Comments on Procter & Gamble Guru stock highlight
P&G’s shares were stronger in the quarter, with the general rise in consumer brand stocks. During the last few years, P&G (NYSE:PG) has been refocusing the company and is now nearing the completion of a series of divestitures that, in total, eliminate more than 100 of the companies’ brands that represented roughly 6% of total profits. With a better focus going forward, fewer brands and product categories and a significant emphasis on driving down costs, we think P&G is well-positioned to deliver solid results over the next several years.
Read more...
Yacktman Focused Fund, Focuses Elsewhere Yacktman Fund further reduces stake in PepsiCo, Coca-Cola in 2nd quarter
A New York based-food, snack and beverage company has recently seen a decline in shares held by one of its long-term stakeholders. Read more...
» More Yacktman Focused Fund Articles

Commentaries and Stories

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Yacktman Funds Comments on Aggreko Guru stock highlight
A small position in Aggreko (LSE:AGK) detracted from returns as the company struggled with greater competition and weakness in oil and gas markets and mining markets. Although current business is challenging, futures orders look encouraging. More...

  • Currently 0.00/5

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Yacktman Funds Comments on Coca-Cola Guru stock highlight
Coke (NYSE:KO)’s share declined modestly in the third quarter after releasing results that showed struggles, especially in Emerging Markets. Long term, we think Coke is executing a solid turnaround by significantly cutting costs, stepping up investments in marketing, taking price increases where it can and refranchising many bottler operations. More...

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Yacktman Funds Comments on Twenty-First Century Fox Guru stock highlight
Fox (NASDAQ:FOXA)’s shares declined during the quarter after the company announced stepped-up investments in cable content and a more restrained and opportunistic share repurchase. We think Fox is significantly undervalued, in part because of underappreciated businesses like Star, which provides nearly 25% of television content in India, and equity affiliates which include Fox’s 39% ownership of Sky, and non-controlling ownership stakes in Hulu and Endemol Shine. In total, we think Star, Sky and the other affiliate stakes could represent more than $10 per share of value while contributing only modestly to earnings. After adjusting for our appraisal of these underappreciated assets, we think the core of Fox trades for only 8-9 times earnings. More...

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Yacktman Funds Comments on P&G Guru stock highlight
P&Gs (NYSE:PG) share price performed well during the quarter. Recently, the company reduced its share count by approximately 4% by completing a transaction combining its beauty and fragrances businesses with Coty. Over the last few years, P&G has sold-off many non-core and slow-growing brands to focus on reinvigorating its core franchises. P&G management is increasing investment in many of its remaining brands, which we believe can lead to improved growth over time. More...

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Yacktman Funds Comments on Samsung Guru stock highlight
Samsung (XKRX:005930)’s stock was a strong performer despite the well-publicized recall and termination of the Note 7 phone line. We think Samsung is significantly undervalued at current levels, and expect additional shareholder-friendly measures will be announced in the next few months. At the end of the second quarter, Samsung was approaching $70 billion in net cash, much of which should be returned to shareholders. Unforeseen issues, sometimes significant ones, occur from time to time in investing, which is why it is important to own securities that trade for a substantial discount to what they are worth, just in case a negative surprise occurs.In summary, we think Samsung is worth less than it was previously valued at, but far more than it currently is. While near-term earnings will be lower from recall costs and write offs from the Note issues, Samsung’s overall value is only modestly less than it was before the Note 7 launch, in large part due to improving results in the semiconductor and display More...

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Yacktman Focused Fund Fuels Twenty-First Century Fox, Trims Several Positions Guru reports third quarter portfolio Yacktman Focused Fund, Yacktman Fund, Donald Yackt - Yacktman Focused Fund Fuels Twenty-First Century Fox, Trims Several Positions
Stephen Yacktman and Jason Subotky, the managers of Yacktman Fund (Trades, Portfolio)s, seek long-term capital appreciation and current income. The fund managers invest in companies using a disciplined investment strategy combining good features of growth and value investing, as described in its prospectus. The fund targets companies that either have a good business or shareholder-oriented investment and trade at low prices. Additionally, the Fund uses the forward rate of return as discussed in this GuruFocus interview. More...

YACKTMAN FOCUSED FUND, YACKTMAN FUND, DONALD YACKTMAN, JEFF UBBEN, STEVEN ROMICK


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Top 5 Stocks of Donald Yacktman's First Special Situation Fund Newer fund looks for deep value with a catalyst, beat market Donald Yacktman,Yacktman Focused Fund - Top 5 Stocks Of Donald Yacktman's First Special Situation Fund
After years of maintaining two similar funds, Yacktman Asset Management, founded by Donald Yacktman (Trades, Portfolio), veered from its usual staid course in 2014 in opening its Special Opportunities Fund to pursue investments with a catalyst. The kind of stocks the fund wants and a little about its returns are starting to show now after its second year of life. More...

  • Currently 0.00/5

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Yacktman Funds Comments on Samsung Guru stock highlight
We feel the best way to navigate an expensive market is to find securities that have been left behind and are significantly undervalued. We think Samsung (XKRX:005930) is a solid example of this type of bargain in the current environment. In recent years, we built a large position in Samsung because its shares are incredibly inexpensive, its balance sheet is exceptional and the company possesses strong market leadership in a wide range of businesses that include semiconductors, mobile phones, display and consumer electronics.During the second quarter, Samsung produced strong operating results, helped by solid sales of the Galaxy S7 phone and strength in the flash memory market. Even after solid stock price performance, Samsung’s shares still sell at more than a 70% discount to globally-established technology peers. More...

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Yacktman Funds Comments on Avon Products Guru stock highlight
Avon (NYSE:AVP)’s shares were weaker during the quarter, although the negative impact was somewhat offset by the appreciation in Avon’s debt, which we also own. We think the company continues to execute a solid turnaround of its business and the shares remain undervalued. More...

  • Currently 5.00/5

Rating: 5.0/5 (2 votes)

Yacktman Funds Comments on Twenty-First Century Fox Guru stock highlight
Fox (NASDAQ:FOXA)’s shares underperformed during the quarter as the company continued to face several challenges, including currency headwinds, underperformance in its movie business, general concerns over changes in the media industry and weakness in its stockholding in SKY, Plc after the Brexit vote. We think Fox’s shares are significantly undervalued at current prices. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Yacktman Funds Comments on Twenty-First Century Fox Guru stock highlight
Fox (NASDAQ:FOXA)’s shares underperformed during the quarter as the company continued to face several challenges, including currency headwinds, underperformance in its movie business, general concerns over changes in the media industry and weakness in its stockholding in SKY, Plc after the Brexit vote. We think Fox’s shares are significantly undervalued at current prices. More...

  • Currently 1.00/5

Rating: 1.0/5 (1 vote)

Yacktman Funds Comments on Microsoft Guru stock highlight
Microsoft (NASDAQ:MSFT)’s shares were weaker during the quarter due to a modest earnings disappointment. We think CEO Satya Nadella is doing an excellent job of repositioning the company for solid long-term growth and we believe the stock is attractively priced. More...

  • Currently 5.00/5

Rating: 5.0/5 (1 vote)

Yacktman Funds Comments on Procter & Gamble Guru stock highlight
P&G’s shares were stronger in the quarter, with the general rise in consumer brand stocks. During the last few years, P&G (NYSE:PG) has been refocusing the company and is now nearing the completion of a series of divestitures that, in total, eliminate more than 100 of the companies’ brands that represented roughly 6% of total profits. With a better focus going forward, fewer brands and product categories and a significant emphasis on driving down costs, we think P&G is well-positioned to deliver solid results over the next several years. More...

  • Currently 5.00/5

Rating: 5.0/5 (1 vote)

Yacktman Funds Comments on Johnson & Johnson Guru stock highlight
JNJ (NYSE:JNJ) performed well in the second quarter after delivering solid results. Few companies have the financial strength and product diversity of JNJ, which is why it is one of only two companies in the United States (Microsoft is the other) that commands a triple-A credit rating. We think JNJ can deliver solid growth and strong free cash flow over time. More...

  • Currently 5.00/5

Rating: 5.0/5 (2 votes)

Yacktman Focused Fund 2nd Quarter Commentary Donald Yacktman's firm discusses environment and holdings Donald Yacktman,Yacktman Focused Fund - Yacktman Focused Fund 2nd Quarter Commentary
The AMG Yacktman Focused Fund (Trades, Portfolio) ( the Fund) (Service Class) returned 2.23% for the second quarter of 2016, compared with 2.46% for the benchmark, the S&P 500 Index. For the 12 months ending June 30, 2016, the Fund returned 7.05%, versus the benchmark return of 3.99%. More...

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Yacktman Fund Invests in Samsung Electronics Company buys stake in carmaker, announces plans to sue smartphone rival Yacktman Fund,Yacktman Focused Fund,Warren Buffett - Yacktman Fund Invests In Samsung Electronics
The Yacktman Fund (Trades, Portfolio) boosted its position in South Korean electronics company Samsung Electronics Co. Ltd. (XKRX:005935) by more than 50% with the purchase of 111,283 shares in the second quarter. More...

  • Currently 5.00/5

Rating: 5.0/5 (1 vote)

Yacktman Focused Fund, Focuses Elsewhere Yacktman Fund further reduces stake in PepsiCo, Coca-Cola in 2nd quarter Donald Yacktman,Yacktman Focused Fund - Yacktman Focused Fund, Focuses Elsewhere
A New York based-food, snack and beverage company has recently seen a decline in shares held by one of its long-term stakeholders. More...

PEPSICO, YACKTMAN


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Donald Yacktman Boosts Stake in Hengan International Group Dividend is close to 10-year high Donald Yackman, Yacktman Focused Fund - Donald Yacktman Boosts Stake In Hengan International Group
Guru Donald Yacktman (Trades, Portfolio) is the founder of the Yacktman Asset Management and was also named Portfolio Manager of the Year by Morningstar in 1991. During the first quarter, Yacktman added to his stake in Hengan International Group to the Yacktman Focused Fund (Trades, Portfolio). More...

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Yacktman Focused Fund Returned -2.6% During The 2Q
Donald Yacktman (Trades, Portfolio)'s Yacktman Focused Fund (Trades, Portfolio) has released its second-quarter commentary letter to investors. In the letter the fund discussed its second-quarter returns which came in at -2.6% compared to the S&P 500 Index return of 0.3%. The fund discussed why its return for the second quarter was negative and the holdings that caused the most pain for the fund. More...

DONALD YACKTMAN, YACKTMAN FOCUSED FUND,2Q,COMMENTARY,


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