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MFWire: Yacktman Funds
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Yacktman Asset Management
6300 Bridgepoint Parkway
Building One, Suite 500
Austin, TX  78730
Google Maps

Contact
Main Phone: 512-767-6700
Web Site: http://www.yacktman.com/

Mutual Fund Brand(s)
Yacktman Funds

Research Links
  • SEC Fund Filings by CIK

  • Background:
    Don Yacktman started Yacktman Asset Managementin April 1992 and three months later, launched the Yacktman Fund.The firm's second mutual fund, Yacktman Focused Fund, came outin April 1997. Yacktman Asset Mangement is 100 percent internallyowned.

    Steve Yacktman, one of Don's seven children, joined the firm in April 1993, as an analyst and currently serves as vice president, portfolio manager, and co-CIO.

    In September 2005, Yacktman Asset Management said goodbye to itshome in Buffalo Grove, Illinois and relocated to Austin, Texas.

    Board Battle

    In 1998, Don Yacktman engaged in a squabble with the YacktmanFund's three independent directors. The directors -- all of whomwere brought in by Yacktman's then-head of marketing, Jon Carlson -- questionedYacktman about the portfolio's shift into small-cap stocks.

    There was also another issue: Don and Steve's board seats at1-800 Contacts, a mail-order company founded by Steve's college roommate. When father-and-son first took the board seats, 1-800 Contacts was aprivately held company. It eventually turned public in February1998, raising concern from the Yacktman Fund directors that the Yacktmans breached the fund's ethics code, which stated thatthe Yacktmans must secure the approval of the directors before sittingon the board of a public company. The warring parties eventually reached a compromise.

    Things were also not going well betweenYacktman and Carlson. Yacktman reportedly felt that Carlson wasn't selling enough separate accounts. Separately, the SEC looked at Yacktman's separate account business. In June 1998, Yacktmanousted Carlson from the firm.

    Meanwhile, Yacktman's battle with the independent directors was not over. Thethree created a committee and engaged a New York firm to look at the way Yacktman was running the fund. Yacktman on September 15 asked the three directorsto step down and when they didn't, a proxy battle ensued. In December,Yacktman won. He tapped replacements for the three.

    Founder

    Don Yacktman won Morningstar's Fund Manager of the Year award in 1991 and was oneof the nominees for the Fund Manager of the Decade award. The son of a wealthy real estate developer, Yacktmanturned down a job offer from his father and instead took a jobas a bank loan officer. In 1968, he joined Stein Roe & Farnhamand spent 14 years there. In 1982, Yacktman moved to Selected Financial Services, Inc., where he ran Selected American Shares. He left Selected Financial, a unit of Kemper, in 1992 and went on to start his own firm.

    source:
    "Don Yacktman's Lonely Crusade," Money Magazine, April 1, 1999
    Sponsored Opportunities



    Key People:
    Donald Yacktman
    President and Co-Chief Investment Officer, Yacktman Asset Management
    Stephen Yacktman
    SVP, Portfolio Manager, Co-Chief Investment Officer, Yacktman Asset Management
    Jason Subotky
    Partner and Portfolio Manager, Yacktman Asset Management
    Russell G. Wilkins
    Partner and Portfolio Manager, Yacktman Asset Management
    Adam Sues
    Portfolio Manager, Yacktman Asset Management
    Kent Arnett
    Chief Compliance Officer, Yacktman Asset Management
    Story Archive for Yacktman Asset Management
    Published On Story Headline Publication
    1/6/2014 PMs from Three Shops Talk Bargain Stocks MFWire.com
    12/6/2013 Managers Slows the Fire Hose for Both Yacktman Funds MFWire.com
    8/6/2013 Don Yacktman Passes the Torch to His Son MFWire.com
    7/22/2013 Dell's LBO Pits T. Rowe Versus Vanguard, And the Rest of the Index Gang MFWire.com
    5/22/2013 The Bishop Gets His MFWire.com
    3/11/2013 Which Funds Did Well With The Bear and The Bull? MFWire.com
    12/20/2012 M* Lists Underachieving 5 Star Funds MFWire.com
    5/17/2012 Wasatch, Weitz & Yacktman Win MStar Praise Despite Fees MFWire.com
    4/26/2012 Fund Executives Testify in Bishop Trial MFWire.com
    4/18/2012 AMG Scoops Up a 5-Star Fund Shop MFWire.com
    12/15/2011 Yacktman, Nygren are Among MStar's Nominees for Domestic-Stock Manager of the Year MFWire.com
    11/15/2011 Vanguard Dominates Morningstar's New Ratings MFWire.com
    11/11/2011 Yacktman Sees 'So Many Quality Companies' For Bargain Prices MFWire.com
    5/3/2011 Strategic Insight Ranks the 25 Fastest-Growing Fund Firms MFWire.com
    4/4/2011 Berkowitz Bucks Bear Market Trend MFWire.com
    1/11/2011 SmartMoney Names the Best Mutual Fund Managers in America MFWire.com
    9/13/2010 Don Yacktman Keeps the Faith MFWire.com
    2/25/2010 U.S. News Lists the Best Mutual Funds for 2010 MFWire.com
    1/15/2010 Investors are Still Testing the Equity-Fund Waters MFWire.com
    1/5/2010 American Funds, Berkowitz and Loomis Sayles Gain Top Manager Kudos MFWire.com
    11/19/2009 Who Made it to Morningstar's Manager of the Decade Shortlist? MFWire.com
    8/6/2009 Small Fund Shops Shut Out the Big Boys MFWire.com
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