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Yacktman Asset Management

Yacktman Asset Management

Yacktman Asset Management
Last update 2019-08-02 46 Stocks (3 new)
Value $8.33 Bil Turnover 5 %
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Yacktman Asset Management Profile

Mr. Stephen Yacktman is Chief Investment Officer, Partner, and Portfolio Manager of Yacktman Asset Management. 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. In 2006 he was named Co-Chief Investment Officer and Senior Vice President of Yacktman Asset Management. Stephen was a finalist for Morningstars Domestic-Stock Manager of the Year award in 2011. He graduated from Brigham Young University with an economics degree and MBA. He is a member of the Management Committee of the firm.

Yacktman Asset Management 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.
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Performance of The Yacktman Fund

Year Return % S&P500 % Excess Gain %
2018 2.69 -4.57 7.3
2017 18.23 21.7 -3.5
2016 11.2 12 -0.8
3-Year Cumulative (2016-2018) 35.01 (10.52/Year) 30.07 (9.16/Year) 4.94 (1.36/Year)
2015 -5.63 1.24 -6.9
2014 11.33 13.46 -2.1
5-Year Cumulative (2014-2018) 41.84 (7.24/Year) 49.41 (8.36/Year) -7.55 (-1.10/Year)
2013 27.74 32.31 -4.6
2012 11.47 15.99 -4.5
2011 7.3 1.9 5.4
2010 12.64 15.05 -2.4
2009 59.31 26.35 33
10-Year Cumulative (2009-2018) 288.89 (14.55/Year) 239.65 (13.01/Year) 49.24 (1.54/Year)
2008 -26.05 -36.79 10.7
2007 3.39 5.15 -1.8
2006 15.95 15.84 0.1
2005 -1.3 4.83 -6.1
2004 9.93 10.7 -0.8
15-Year Cumulative (2004-2018) 274.07 (9.19/Year) 203.48 (7.68/Year) 70.59 (1.51/Year)
2003 33.03 28.18 4.8
2002 11.41 -21.58 33
2001 19.47 -11.76 31.2
2000 13.46 -9.75 23.2
1999 -16.9 20.38 -37.3
20-Year Cumulative (1999-2018) 524.49 (9.59/Year) 192.44 (5.51/Year) 332.05 (4.08/Year)
1998 0.64 28.69 -28.1
1997 18.28 33.49 -15.2
1996 26.02 22.5 3.5
1995 30.42 38.06 -7.6
1994 8.8 0.38 8.4
25-Year Cumulative (1994-2018) 1229.29 (10.90/Year) 752.87 (8.95/Year) 476.42 (1.95/Year)
1993 -6.58 10.08 -16.7

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