AMG Yacktman Focused Fund Q3 2025 Commentary
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Affiliated Managers Group8 FollowersFollow5ShareSavePlay(8min)CommentsSummaryThe S&P 500 Index has returned to all-time highs with many quality companies trading at extremely expensive valuations.We believe the environment is full of risks—geopolitical, regulatory, leverage, supply chain, and tariffs, to name a few.The AMG Yacktman Focused Fund returned 4.98% for the third quarter of 2025, underperforming the Russell 1000 ® Value Index and the S&P 500 ® Index.These environments with tumultuous markets have been when Yacktman produces its best results for investors.Yacktman is constantly focused on risks, and we have constructed a portfolio well-positioned to protect capital and offer a differentiated returns stream. MicroStockHub/iStock via Getty Images Overview ► The AMG Yacktman Focused Fund (the Fund) returned 4.98% for the third quarter of 2025, underperforming the Russell 1000 ® Value Index, which returned 5.33%, and underperforming the S&P 500 ® Index, which returned This article was written byAffiliated Managers Group8 FollowersFollowAMG is a strategic partner to, and long-term investor in, leading independent investment firms globally. We provide the advantages of partnership to magnify our Affiliates’ success, while preserving their autonomy and independence. We leverage our capabilities and insight, offering strategic, business development, operational, and capital support to our Affiliates, to create exceptional value for their clients and our shareholders. With AMG, Affiliates are able to expand their reach, diversify their business, and achieve further success. When Affiliates choose AMG as a partner, they are choosing independence. Not only do our partners value their autonomy, their clients also recognize that an independent firm’s entrepreneurial and investment-centric culture is instrumental to generating differentiated long-term returns. Having operated our distinct partnership model for 30 years, our entrepreneurial spirit, ownership mindset, and focus on excellence are deeply rooted. Note: This account is not managed or monitored by AMG, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use AMG's official channels.Quick InsightsHow does the Fund justify its value approach amid expensive market valuations?The Fund seeks misunderstood value opportunities, focusing on risk-adjusted returns and disciplined entry prices to compensate for heightened macro and valuation risks.What is the investment thesis for Bolloré despite recent underperformance?Bolloré's simplified structure, significant net cash, and anticipated U.S. listing of Universal Music Group support a NAV in the mid-teens versus a mid-single digit share price.How is Samsung positioned within the portfolio following recent developments?Samsung's design win with Nvidia for HBM chips validates its semiconductor leadership, and regulatory improvements in South Korea further enhance its long-term investment case.Recommended For You