Donald Yacktman

Donald Yacktman

Last Update: 05-03-2017
Related: Yacktman Focused Fund
Yacktman Fund

Number of Stocks: 43
Number of New Stocks: 1

Total Value: $10,710 Mil
Q/Q Turnover: 0%

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

Donald Yacktman' s Profile & Performance

Profile

Mr. Yacktman is the President and Co-Chief Investment Officer of Yacktman Asset Management Co. He is also a Co-Manager for The Yacktman Funds. Prior to founding the firm in April, 1992, Mr. Yacktman served for ten years as the Senior Portfolio Manager of Selected Financial Services, Inc. During that time, he also served for nine years as the Portfolio Manager of the Selected American Shares mutual fund and was named Portfolio Manager of The Year by Morningstar in 1991. He joined Selected Financial Services, Inc. in 1982 from Stein Roe & Farnham where he had been a portfolio manager since 1968. Mr. Yacktman holds a B.S. Magna Cum Laude in economics from The University of Utah and an MBA with distinction from Harvard University.

Web Page:http://www.yacktman.com/

Investing Philosophy

This is the excerpt from Yacktman Fund prospectus:

Our investment adviser employs a disciplined investment strategy.We buy growth companies at what we believe to be low prices.We think this approach combines the best features of "growth" and "value" investing. When we purchase stocks we look for companies with the following three attributes:

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-ORIENTEDMANAGEMENT

We believe a shareholder-oriented management does not overcompensate itself and allocates wisely the cash the company generates.We look for companies that:

_ Reinvest in the business and still have excess cash; _ Make synergistic acquisitions; and _ Buy back stock.

LOWPURCHASE PRICE

_ We look for a stock that sells for less than what an investor would pay to buy the whole company. _ The stock prices of many companies vary by 50% or more from low to high each year so we wait for buying opportunities.

Each of the Funds will hold fewer stocks than the typical stock mutual fund. In fact, The Yacktman Focused Fund usually holds fewer than 25 stocks.We think it makes sense to invest more in our top choices than in investments we think are less attractive.

Total Holding History

Performance of The Yacktman Fund

YearReturn (%)S&P500 (%)Excess Gain (%)
201611.211.96-0.8
2015-5.631.38-7.0
201411.3313.69-2.4
3-Year Cumulative16.8 (5.3%/year)29 (8.9%/year)-12.2 (-3.6%/year)
201327.7432.39-4.6
201211.4716-4.5
5-Year Cumulative66.4 (10.7%/year)98.2 (14.7%/year)-31.8 (-4%/year)
20117.32.115.2
201012.6415.06-2.4
200959.3126.4632.9
2008-26.05-3711.0
20073.395.49-2.1
10-Year Cumulative144.9 (9.4%/year)95.7 (6.9%/year)49.2 (2.5%/year)
200615.9515.790.2
2005-1.34.91-6.2
20049.9310.88-0.9
200333.0328.684.3
200211.41-22.133.5
15-Year Cumulative356.6 (10.7%/year)164.2 (6.7%/year)192.4 (4%/year)
200119.47-11.8931.4
200013.46-9.122.6
1999-16.921.04-37.9
19980.6428.58-27.9
199718.2833.36-15.1
20-Year Cumulative512.3 (9.5%/year)339.2 (7.7%/year)173.1 (1.8%/year)
199626.0222.963.1
199530.4237.58-7.2
19948.81.327.5
1993-6.5810.08-16.7

Top Ranked Articles

How to Value a Stock Using Yacktman's Forward Rate of Return Long-term investors should value a stock using an approach that relies on the free cash flow yield and growth rate
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Book Review: Invest Like a Guru - A Practical Guide to Avoiding Value Traps A solid addition to the value investor’s library.
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Yacktman Asset Management, founded by noted value investor Donald Yacktman (Trades, Portfolio), purchased a smidgeon of the Standard and Poor's 500 index (SPY) and made significant increases to its holding of Unilever NV (NYSE:UN) and Reading International Inc. (NASDAQ:RDI). Read more...
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Commentaries and Stories

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Risk Reward With Twenty-First Century Fox Scandal has hit Fox again; it may be a good time to buy the stock Donald Yacktman,Jeff Ubben,Seth Klarman - Risk Reward With Twenty-First Century Fox
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Book Review: Invest Like a Guru - A Practical Guide to Avoiding Value Traps A solid addition to the value investor’s library. Warren Buffett,Donald Yacktman - Book Review: Invest Like A Guru - A Practical Guide To Avoiding Value Traps
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First Eagle Investment Slashes 5 Stakes in 1st Quarter Guru reports quarterly portfolio First Eagle Investment,Donald Yacktman - First Eagle Investment Slashes 5 Stakes In 1st Quarter
Jean-Marie Eveillard of First Eagle Investment (Trades, Portfolio) seeks long-term capital appreciation through the conviction that absolute long-term performance is the best way to preserve capital. During first-quarter 2017, Eveillard cut positions in five companies: Comcast Corp. (NASDAQ:CMCSA), The Timken Co. (NYSE:TKR), Molson Coors Brewing Co. (NYSE:TAP), Qualcomm Inc. (NASDAQ:QCOM) and The Hershey Co. (NYSE:HSY). More...

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Yacktman Buys Troubled Express Scripts, Sells S&P 500 Yacktman Funds' new holding just lost its biggest client, and the firm sold three stocks Donald Yacktman - Yacktman Buys Troubled Express Scripts, Sells S&P 500
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Yacktman Asset Management Comments on Sysco Guru stock highlight
Sysco (NYSE:SYY)’s stock was off by 6% during the quarter. The company continues to execute well, benefitting from an increased focus on profit margins and strong results in Brakes Group, a significant acquisition the company completed in 2016. More...

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Yacktman Asset Management Comments on Oracle Guru stock highlight
Oracle (NYSE:ORCL)’s shares rose during the quarter along with general strength in the technology sector, which also lifted investments in Microsoft and Cisco. Oracle’s stock was also helped by solid earnings results and a continued transition to a more subscription-based revenue model and away from large one-time contracts. More...

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Yacktman Asset Management Comments on Samsung Guru stock highlight
Samsung (XKRX:005930)’s stock delivered solid results in the quarter, in large part due to significantly-improving profit trends in the company’s semiconductor and display businesses. Due to strong product cycles and tight product supplies, we think these businesses could produce earnings that nearly double in 2017.In recent months, South Korea has experienced significant political unrest, culminating in the arrest of impeached President Park Guen-Hye at quarter end. We believe the changing political landscape will bring about improved corporate behavior, which could allow Samsung’s shares to trade more in line with global peers––and substantially higher than where they are today. Although tensions with North Korea have recently increased, Samsung is a powerful global business whose stock remains, in our view, attractive, due to its well-positioned businesses, low valuation and strong balance sheet. More...

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Yacktman Asset Management Comments on Fox Guru stock highlight
In the first quarter, Fox (NASDAQ:FOX)’s shares rose more than 15%. Fox News continued to post strong ratings even though viewership typically declines substantially after a presidential election. Tucker Carlson seamlessly replaced Megyn Kelly, who left for rival NBC, and his show achieved significantly stronger ratings than that of his predecessors. Fox continued its run of luck in sports, with a strong first-ever Super Bowl that went overtime (following an exceptional seven-game, extra-inning World Series final in the fall), and its film business had successes with Logan and HiddenFigures.More importantly, we believe Fox continues to create substantial long-term value in its underappreciated overseas businesses. In the last three years, Fox has faced nearly a $1 billion earnings headwind from foreign currency moves, masking otherwise strong results from outside the United States. More...

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Donald Yacktman's Son Brian Yacktman of YCG Funds Gives Talk Brian Yacktman founded his own firm in 2007 and talks about his principles at Texas Lutheran Donald Yacktman - Donald Yacktman's Son Brian Yacktman Of YCG Funds Gives Talk
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Independent Director Invests in Kingsway Financial Services Company's market price has gained an estimated 31% in the last year Donald Yacktman - Independent Director Invests In Kingsway Financial Services
Independent Director Joseph Stilwell purchased 16,100 shares shares of Kingsway Financial Services (NYSE:KFS) for $5.71 per share on March 16. The transaction was documented in a Form 4 filing with the Securities and Exchange Commission. More...

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Yacktman Focused Fund 4th Quarter Commentary Shareholder letter Donald Yacktman - Yacktman Focused Fund 4th Quarter Commentary
The AMG Yacktman Focused Fund (Trades, Portfolio) (S Class) returned 2.5% in the fourth quarter of 2016, compared with a 3.8% return for its benchmark, the S&P 500 Index. For the 12-month period ending December 31, 2016, the Fund returned 11.3%, compared with the 12.0% return for its benchmark. We consider our results to be far superior to the S&P’s last year, as we produced nearly the same return as the benchmark with significantly less market exposure. More...

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Yacktman Funds Trims Most Positions, Adds to 2 Stocks, Buys S&P 500 ETF in 4th Quarter Yacktman makes significant reductions but three buys Donald Yacktman,Yacktman Focused Fund - Yacktman Funds Trims Most Positions, Adds To 2 Stocks, Buys S&P 500 ETF In 4th Quarter
Yacktman Asset Management, founded by noted value investor Donald Yacktman (Trades, Portfolio), purchased a smidgeon of the Standard and Poor's 500 index (SPY) and made significant increases to its holding of Unilever NV (NYSE:UN) and Reading International Inc. (NASDAQ:RDI). More...

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Yacktman Focused Fund Adds Unilever to Portfolio Fund established only one new holding in the 4th quarter Yacktman Focused Fund,Donald Yacktman,Tom Russo,Ya - Yacktman Focused Fund Adds Unilever To Portfolio
After selling out in the fourth quarter of 2015, the AMG Yacktman Focused Fund (Trades, Portfolio) established a new holding in Unilever NV (NYSE:UN) during the final quarter of 2016. More...

YACKTMAN, FOCUSED, UNILEVER, BUY, 4Q


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According to GuruFocus' All-in-One Screener, the following stocks with market caps above $5 billion look cheap since they are trading with low price-sales (P/S) ratios. More...

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Donald Yacktman Reduces Multiple Positions in 3rd Quarter An overview of the guru's largest sales of the quarter Donald Yacktman - Donald Yacktman Reduces Multiple Positions In 3rd Quarter
Donald Yacktman (Trades, Portfolio) founded Yacktman Asset Management in 1992. His son, Stephen Yacktman, now primarily runs the firm. During the third quarter, the guru reduced his position in the following stocks: More...

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Among U.S. companies, consumer defensives offer good value-investing opportunities. Such companies, like The Coca-Cola Co. (NYSE:KO), PepsiCo Inc. (NYSE:PEP), Proctor & Gamble Co. (NYSE:PG) and The Wal-Mart Stores Inc. (NYSE:WMT), have strong and consistent financial strength, suggesting low bankruptcy risk. Additionally, at least three of the above companies have strong gross margins, suggesting durable competitive advantage. More...

WARREN BUFFETT, DONALD YACKTMAN, KEN FISHER


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