Fund Overview Fund Overview Call Us Advisors: 800.368.4410 Investors: 800.548.4539 Share Class I N I NAV | as of 10/09/2024 $16.00 +$0.01 (+0.06%) Morningstar | Style Box V B G L M S Morningstar Rating Rated against 142 Global Large-Stock Value funds as of 09/30/2024 View Morningstar Details Morningstar Medalist Rating as of 02/09/2024 Analyst-Driven:100% | Data Coverage:100% Growth of $10,000 (Hypothetical) Since Inception 01/30/2017 to 09/30/2024 = $22,586.03 From: To: 3YR 5YR 10YR INCEP. INCEP. 3YR 5YR 10YR INCEP. SEE ALL PERFORMANCE Effective July 1, 2021, the Fund’s primary benchmark changed and the secondary benchmark was removed. The MSCI World Index became the benchmark; previously the Russell 1000® Value Index was the primary benchmark and the S&P 500® was the secondary benchmark. The MCSI World Index is provided for illustrative purposes only, is unmanaged, reflect reinvestment of income and dividends and does not reflect the impact of advisory fees. The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month-end please call 800.548.4539. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown. Read Important Investment Disclosures Objective The Fund seeks to generate equity-like rates of return over a full market cycle while managing the level of risk. Why Consider Provides investors exposure to securities which the portfolio managers expect to provide strong risk-adjusted results over a full market cycle Subadvised by a seasoned investment team with a long track record and reputation for a disciplined investment approach The Fund may be appropriate for your overall investment allocation if you are looking to gain exposure to global equity investments Documents Fact Sheet Summary Prospectus Prospectus 2023 Distributions View All Documents Investment Style Yacktman Global Fund has an Equity Income Objective, seeking to achieve income and capital appreciation. Large Mid Small Value Blend Growth Equity Objective Yacktman Global Fund is categorized as Mid-Value. It invests in medium-cap companies with low risk. Morningstar Ratings Risk-adjusted returns as of 09/30/2024 Overall Rating (of 142) 3 Years (of 142) 5 Years (of 129) 10 Years — Category Global Large-Stock Value Read Important Investment Disclosures Stephen A. Yacktman CHIEF INVESTMENT OFFICER, PARTNER, AND PORTFOLIO MANAGER 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. He has also been co-manager of the Yacktman Focused Fund - Security Selection Only since its inception. In 2006 he was named Co-Chief Investment Officer and Senior Vice President of Yacktman Asset Management. Mr. Yacktman was a finalist for Morningstar's 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. Jason S. Subotky PARTNER AND PORTFOLIO MANAGER Jason Subotky is Partner and Portfolio Manager of Yacktman Asset Management. He joined the firm in 2001, having previously worked as a General Partner at Peterschmidt Ventures and as a Vice President at Goldman Sachs. Mr. Subotky received a Bachelor of Music from the University of Southern California and an MBA from Brigham Young University. Jason is a co-manager for AMG Yacktman Focused Fund and AMG Yacktman Fund and is a member of the Management Committee. Adam P. Sues PARTNER AND PORTFOLIO MANAGER Adam Sues is a Partner and Portfolio Manager at Yacktman Asset Management. He joined the firm in 2013 and is portfolio manager for the AMG Yacktman Special Opportunities Fund. From 2010-2013, he was the founder and author of Value Uncovered, an investment website focused on value-oriented stock research and fundamental analysis. Mr. Sues holds a BA in business administration from Mount Union College and an MBA from the University of North Carolina Kenan-Flagler Business School. Performance Performance Read Important Investment Disclosures Returns Trailing Returns Trailing Returns Monthly Quarterly Calendar Year Returns Effective July 1, 2021, the Fund’s primary benchmark changed and the secondary benchmark was removed. The MSCI World Index became the benchmark; previously the Russell 1000® Value Index was the primary benchmark and the S&P 500® was the secondary benchmark. The MCSI World Index is provided for illustrative purposes only, is unmanaged, reflect reinvestment of income and dividends and does not reflect the impact of advisory fees. The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month-end please call 800.548.4539. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown. Expense Ratios Gross Expense Ratio: 0.96% Net Expense Ratio: 0.93% Expense Cap Expiration Date: 05/01/2025 Distributions & Pricing Distributions Distributions Chart List Historical Pricing Calendar Year Distributions Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains Dec 29, 2023 $0.179300 $0.179300 — — Dec 14, 2023 $1.050600 $0.527200 $0.053400 $0.470000 Dec 15, 2022 $0.615600 — $0.017600 $0.598000 Dec 15, 2021 $1.338800 $0.570300 $0.101600 $0.666900 Dec 16, 2020 $0.747200 $0.236300 $0.141600 $0.369300 Dec 16, 2019 $0.583000 $0.250600 $0.285600 $0.046800 Dec 27, 2018 $0.085100 $0.065300 $0.006300 $0.013500 Dec 27, 2017 $0.309700 $0.215100 $0.094600 — From: To: Risk & Return Statistics As of: 09/30/2024 3YR 5YR 10YR Alpha Alpha is a measure of performance on a risk-adjusted basis. Alpha takes the volatility (price risk) of a security or mutual fund and compares its risk-adjusted performance to a benchmark index. The excess return of the security or fund relative to the return of the benchmark index is a fund's alpha. -2.90 -1.22 - Standard Deviation Standard Deviation is a measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the deviation. Standard deviation is calculated as the square root of variance. 16.71 18.56 - Sharpe Ratio Sharpe Ratio is a risk-adjusted measure developed by William Sharpe. It is calculated using standard deviation and excess return to determine reward per unit of risk. First, the average monthly return of the 90-day Treasury bill (over a 36-month period) is subtracted from the portfolio's average monthly return. The difference in total return represents the portfolio's excess return beyond that of the 90-day Treasury bill, a risk-free investment. An arithmetic annualized excess return is then calculated by multiplying this monthly return by 12. To show a relationship between excess return and risk, this number is then divided by the standard deviation of the portfolio's annualized excess returns. The higher the Sharpe ratio, the better the portfolio's historical risk-adjusted performance. 0.06 0.45 - Upside Capture Ratio (%) Upside Capture Ratio (%) is a measure of a manager's performance in up markets relative to a particular benchmark. An up market is one in which the market's quarterly (or monthly) return is greater than or equal to zero. For example, a ratio of 50% means that the portfolio's value increased half as much as its benchmark index during up markets. 75.33 81.45 - Downside Capture Ratio (%) Downside Capture Ratio (%) measures a manager's performance in down markets relative to a particular benchmark. A down market is one in which the market's quarterly (or monthly) return is less than zero. For example, a ratio of 50% means that the portfolio's value fell half as much as its benchmark index during down markets. 96.03 96.64 - Beta Beta measures the relationship between the portfolio's excess return over T-bills (representing a risk-free rate) relative to the excess return of the portfolio's benchmark. A low beta does not imply that the portfolio has a low level of volatility; rather, a low beta means that the portfolio's market-related risk is low. Beta is often referred to as systematic risk. 0.88 0.95 - R-Squared R-Squared ranges from 0 to 100 and reflects the percentage of a portfolio's movements that are explained by movements in its benchmark index. A portfolio with an R-squared of 100 means that all movement is completely explained by benchmark index movement. Thus, a portfolio that invests only in S&P 500 stocks will have an R-squared very close to 100. Conversely, a low R-squared indicates that very little of the portfolio's movement is explained by benchmark movement. An R-squared measure of 35, for example, means that movements in its benchmark index can explain only 35% of the portfolio's movements. R-squared is used to ascertain the significance of a particular beta or alpha and generally a higher R-squared will indicate more useful alpha and beta figures. 78.40 80.86 - Tracking Error (%) Tracking Error (%) , which is often referred to as the active risk of the portfolio, measures how closely a manager's returns track the returns of a benchmark index. Specifically, tracking error measures the standard deviation of the excess returns a portfolio generates compared to its benchmark. This gives an indication of the volatility of a portfolio versus its benchmark. If a manager tracks a benchmark closely, then tracking error will be low. If a manager tracks a benchmark perfectly, then tracking error will be zero. 8.01 8.17 - View All Characteristics & Statistics All Characteristics & Statistics Yacktman Global Fund (YFSIX) Portfolio Characteristics (Equity) Risk & Return Market Cap Valuation Characteristics Growth Characteristics Fund Holdings Fund MSCI World Index Fund Assets (Mil.$) $173 Number of Holdings 59 1,430 Weighted Avg. Market Cap (Mil.$) $82,275 $726,504 Median Market Cap (Mil.$) $999 $19,737 Weighted Avg. P/E (1-yr Forward EPS) 9.53 19.66 Weighted Avg. P/E (Trailing EPS) 10.29 22.77 PEG Ratio 0.41 1.62 Weighted Avg. P/B 0.72 3.28 EPS Growth (Trailing 3-yr %) 0.76% 13.08% EPS Growth (Trailing 5-yr %) 6.45% 13.74% Forward EPS Growth (1-yr %) 18.51% 10.32% Forward EPS Growth (Long Term %) 9.49% 12.07% Revenue Growth (Trailing 5-yr %) 0.89% 9.66% Return on Equity 8.17% 20.21% Weighted Avg. Dividend Yield 3.42% 1.76% Debt to Equity 33.70 88.07 Trailing 12-Months Portfolio Turnover 9.92% As of: 06/30/2024 Risk & Return 3 Years 5 Years 10 Years Alpha Alpha is a measure of performance on a risk-adjusted basis. Alpha takes the volatility (price risk) of a security or mutual fund and compares its risk-adjusted performance to a benchmark index. The excess return of the security or fund relative to the return of the benchmark index is a fund's alpha. -2.90 -1.22 - Standard Deviation Standard Deviation is a measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the deviation. Standard deviation is calculated as the square root of variance. 16.71 18.56 - Sharpe Ratio Sharpe Ratio is a risk-adjusted measure developed by William Sharpe. It is calculated using standard deviation and excess return to determine reward per unit of risk. First, the average monthly return of the 90-day Treasury bill (over a 36-month period) is subtracted from the portfolio's average monthly return. The difference in total return represents the portfolio's excess return beyond that of the 90-day Treasury bill, a risk-free investment. An arithmetic annualized excess return is then calculated by multiplying this monthly return by 12. To show a relationship between excess return and risk, this number is then divided by the standard deviation of the portfolio's annualized excess returns. The higher the Sharpe ratio, the better the portfolio's historical risk-adjusted performance. 0.06 0.45 - Upside Capture Ratio (%) Upside Capture Ratio (%) is a measure of a manager's performance in up markets relative to a particular benchmark. An up market is one in which the market's quarterly (or monthly) return is greater than or equal to zero. For example, a ratio of 50% means that the portfolio's value increased half as much as its benchmark index during up markets. 75.33 81.45 - Downside Capture Ratio (%) Downside Capture Ratio (%) measures a manager's performance in down markets relative to a particular benchmark. A down market is one in which the market's quarterly (or monthly) return is less than zero. For example, a ratio of 50% means that the portfolio's value fell half as much as its benchmark index during down markets. 96.03 96.64 - Beta Beta measures the relationship between the portfolio's excess return over T-bills (representing a risk-free rate) relative to the excess return of the portfolio's benchmark. A low beta does not imply that the portfolio has a low level of volatility; rather, a low beta means that the portfolio's market-related risk is low. Beta is often referred to as systematic risk. 0.88 0.95 - R-Squared R-Squared ranges from 0 to 100 and reflects the percentage of a portfolio's movements that are explained by movements in its benchmark index. A portfolio with an R-squared of 100 means that all movement is completely explained by benchmark index movement. Thus, a portfolio that invests only in S&P 500 stocks will have an R-squared very close to 100. Conversely, a low R-squared indicates that very little of the portfolio's movement is explained by benchmark movement. An R-squared measure of 35, for example, means that movements in its benchmark index can explain only 35% of the portfolio's movements. R-squared is used to ascertain the significance of a particular beta or alpha and generally a higher R-squared will indicate more useful alpha and beta figures. 78.40 80.86 - Tracking Error (%) Tracking Error (%) , which is often referred to as the active risk of the portfolio, measures how closely a manager's returns track the returns of a benchmark index. Specifically, tracking error measures the standard deviation of the excess returns a portfolio generates compared to its benchmark. This gives an indication of the volatility of a portfolio versus its benchmark. If a manager tracks a benchmark closely, then tracking error will be low. If a manager tracks a benchmark perfectly, then tracking error will be zero. 8.01 8.17 - Information Ratio Information Ratio s a ratio of portfolio returns above the returns of a benchmark (usually an index) to the volatility of those returns. The information ratio (IR) measures a portfolio manager's ability to generate excess returns relative to a benchmark, but also attempts to identify the consistency of the investor. This ratio will identify if a manager has beaten the benchmark by a lot in a few months or a little every month. The higher the IR, the more consistent a manager is, and consistency is an ideal trait. -0.55 -0.29 - Treynor Ratio (%) Treynor Ratio (%) , which was developed by Jack Treynor, measures reward per unit of beta risk. It measures returns earned in excess of that which could have been earned on a less risk investment per each unit of market risk. The Treynor Ratio relates the difference between the portfolio return and the risk-free rate to the portfolio beta for a given time period. 1.20 8.76 - Max Drawdown Max Drawdown is the maximum loss from a peak to a trough of a portfolio, before a new peak is attained. Maximum Drawdown is an indicator of downside risk over a specified time period. -23.79 -24.69 - As of: 09/30/2024 Market Cap Fund MSCI World Index Market Cap ($mm) 0 - 1,000 37.73% 0.00% Market Cap ($mm) 1,000 - 1,500 1.22% 0.00% Market Cap ($mm) 1,500 - 2,500 0.00% 0.00% Market Cap ($mm) 2,500 - 5,000 4.10% 0.16% Market Cap ($mm) 5,000 - 10,000 7.99% 2.65% Market Cap ($mm) 10,000 - 25,000 23.75% 10.30% Market Cap ($mm) 25,000 - 50,000 0.57% 13.81% Market Cap ($mm) 50,000 - 100,000 12.25% 15.76% Market Cap ($mm) 100,000 - 200,000 1.01% 15.53% Market Cap ($mm) 200,000 - 11.37% 41.79% Market Cap – NA 0.00% 0.00% As of: 06/30/2024 Valuation Characteristics Fund MSCI World Index P/E 0-10 22.70% 5.48% P/E 10-15 34.22% 12.99% P/E 15-20 11.48% 10.35% P/E 20-25 10.25% 9.40% P/E 25-Above 20.70% 59.85% P/E – NA 0.64% 1.94% As of: 06/30/2024 Growth Characteristics Fund MSCI World Index EPS Growth (Trailing 3-yr %) - Negative 47.54% 24.82% EPS Growth (Trailing 3-yr %) 0 - 5 3.53% 7.76% EPS Growth (Trailing 3-yr %) 5 - 10 4.94% 9.68% EPS Growth (Trailing 3-yr %) 10 - 15 8.14% 16.20% EPS Growth (Trailing 3-yr %) 15 - 20 3.86% 10.04% EPS Growth (Trailing 3-yr %) Above 20 23.02% 26.57% EPS Growth (Trailing 3-yr %) - NA 8.97% 4.92% As of: 06/30/2024 Read Important Investment Disclosures Portfolio & Holdings Portfolio & Holdings Top Holdings (Equity) As of: 06/30/2024 Bollore SE 9.35% Samsung Electronics Co Ltd Preferred 8.51% Canadian Natural Resources Ltd 7.21% Samsung C&T Corp 5.11% Hyundai Motor Co 4.57% Total Energy Services Inc 4.29% HI-LEX Corp 3.87% Cie de L'Odet SE 3.65% Unit Corp 3.38% Ocean Wilsons Holdings Ltd 3.21% % in Top 10 Holdings 53.16% View Holding Details Holding Details Yacktman Global Fund (YFSIX) Top 10 Holdings (Equity) All Holdings 10 Best Performing Stocks 10 Worst Performing Stocks Fund Holdings 06/30/2024 Bollore SE 9.35% Samsung Electronics Co Ltd Preferred 8.51% Canadian Natural Resources Ltd 7.21% Samsung C&T Corp 5.11% Hyundai Motor Co 4.57% Total Energy Services Inc 4.29% HI-LEX Corp 3.87% Cie de L'Odet SE 3.65% Unit Corp 3.38% Ocean Wilsons Holdings Ltd 3.21% % in Top 10 Holdings 53.16% As of: 06/30/2024 Download All Holdings (PDF) As of: 06/30/2024 Ticker Name Sector Asset Class Country Currency Par/Shares Price ($) Market Value ($) % of Fund BOL Bollore SE Communication Services S FR EUR 2,750,000 5.87 $16,145,042 9.35% 005935 Samsung Electronics Co Ltd Preferred Information Technology S KR KRW 320,000 45.92 $14,693,366 8.51% CNQ Canadian Natural Resources Ltd Energy S CA USD 350,000 35.60 $12,460,000 7.21% 028260 Samsung C&T Corp Industrials S KR KRW 86,000 102.63 $8,825,762 5.11% 005385 Hyundai Motor Co Consumer Discretionary S KR KRW 60,000 131.58 $7,894,687 4.57% TOT Total Energy Services Inc Energy S CA CAD 1,050,000 7.06 $7,414,203 4.29% 7279 HI-LEX Corp Consumer Discretionary S JP JPY 730,000 9.15 $6,679,325 3.87% ODET Cie de L'Odet SE Industrials S FR EUR 4,500 1,401.08 $6,304,878 3.65% UNTC Unit Corp Energy S US USD 160,000 36.50 $5,840,000 3.38% OCN Ocean Wilsons Holdings Ltd Industrials S BM GBP 340,000 16.31 $5,544,343 3.21% 051905 LG H&H Co Ltd Preferred Consumer Staples S KR KRW 47,000 110.66 $5,200,977 3.01% 033780 KT&G Corp Consumer Staples S KR KRW 80,000 63.90 $5,111,751 2.96% 8074 Yuasa Trading Co Ltd Industrials S JP JPY 130,000 35.37 $4,597,531 2.66% 012330 Hyundai Mobis Co Ltd Consumer Discretionary S KR KRW 25,000 181.67 $4,541,827 2.63% FOX Fox Corp, Class B Communication Services S US USD 115,000 32.02 $3,682,300 2.13% UHAL/B U-Haul Holding Co Non-Voting Industrials S US USD 60,000 60.02 $3,601,200 2.09% 057050 Hyundai Home Shopping Network Corp Consumer Discretionary S KR KRW 93,236 37.12 $3,460,603 2.00% 4725 CAC Holdings Corp Information Technology S JP JPY 240,000 11.67 $2,800,432 1.62% CBP CB Industrial Product Holding Bhd Industrials S MY MYR 10,500,000 0.26 $2,759,936 1.60% 6745 Hochiki Corp Information Technology S JP JPY 160,000 13.97 $2,235,445 1.29% 4694 BML Inc Health Care S JP JPY 120,000 17.94 $2,152,226 1.25% 4095 Nihon Parkerizing Co Ltd Materials S JP JPY 250,000 8.15 $2,036,534 1.18% 4212 Sekisui Jushi Corp Industrials S JP JPY 140,000 14.19 $1,986,539 1.15% 7607 Shinwa Co Ltd Industrials S JP JPY 100,000 18.34 $1,833,530 1.06% 282690 Dong Ah Tire & Rubber Co Ltd Consumer Discretionary S KR KRW 200,000 8.96 $1,792,953 1.04% 002810 Sam Yung Trading Co Ltd Industrials S KR KRW 180,000 9.47 $1,703,887 0.99% 3950 Pack Corp Materials S JP JPY 70,000 23.67 $1,656,645 0.96% 7504 Kohsoku Corp Materials S JP JPY 90,000 15.39 $1,385,024 0.80% 7459 Medipal Holdings Corp Health Care S JP JPY 70,000 15.25 $1,067,172 0.62% BNR Brenntag SE Industrials S DE EUR 15,000 67.46 $1,011,899 0.59% 001940 KISCO Holdings Co Ltd Materials S KR KRW 70,000 14.27 $998,845 0.58% 9845 Parker Corp Industrials S JP JPY 172,500 5.76 $994,045 0.58% 003650 Mi Chang Oil Industrial Co Ltd Energy S KR KRW 17,976 55.18 $991,842 0.57% 4659 Ajis Co Ltd Industrials S JP JPY 60,000 15.48 $928,585 0.54% SCHW Charles Schwab Corp Financials S US USD 12,000 73.69 $884,280 0.51% ABF Associated British Foods PLC Consumer Staples S GB GBP 28,000 31.22 $874,268 0.51% GOOG Alphabet Inc, Class C Communication Services S US USD 4,700 183.42 $862,074 0.50% 090435 Amorepacific Corp Preferred Consumer Staples S KR KRW 25,000 34.07 $851,798 0.49% NWSA News Corp, Class A Communication Services S US USD 30,000 27.57 $827,100 0.48% PEP PepsiCo Inc Consumer Staples S US USD 5,000 164.93 $824,650 0.48% PG Procter & Gamble Co Consumer Staples S US USD 5,000 164.92 $824,600 0.48% MSFT Microsoft Corp Information Technology S US USD 1,800 446.95 $804,510 0.47% JNJ Johnson & Johnson Health Care S US USD 5,500 146.16 $803,880 0.47% DIS Walt Disney Co Communication Services S US USD 8,000 99.29 $794,320 0.46% 049430 Komelon Corp Industrials S KR KRW 120,000 6.54 $784,917 0.45% AMPY Amplify Energy Corp Energy S US USD 115,000 6.78 $779,700 0.45% 005710 Daewon San Up Co Ltd Consumer Discretionary S KR KRW 160,000 4.57 $731,650 0.42% CTSH Cognizant Technology Solutions Corp, Class A Information Technology S US USD 10,000 68.00 $680,000 0.39% WINE Naked Wines PLC Consumer Staples S GB GBP 745,000 0.82 $612,140 0.35% 004365 Sebang Co Ltd Preferred Industrials S KR KRW 106,126 5.63 $597,513 0.35% CON Continental AG Consumer Discretionary S DE EUR 10,000 56.64 $566,372 0.33% 5947 Rinnai Corp Consumer Discretionary S JP JPY 24,000 22.80 $547,217 0.32% RDI Reading International Inc, Class A Communication Services S US USD 320,000 1.42 $454,400 0.26% UHAL U-Haul Holding Co Industrials S US USD 6,000 61.73 $370,380 0.21% 7297 Car Mate Manufacturing Co Ltd Consumer Discretionary S JP JPY 52,500 5.92 $310,973 0.18% 115310 INFOvine Co Ltd Information Technology S KR KRW 20,000 15.15 $302,942 0.18% 3420 KFC Ltd Industrials S JP JPY 31,900 9.32 $297,380 0.17% KVUE Kenvue Inc Consumer Staples S US USD 14,924 18.18 $271,318 0.16% 4547 Kissei Pharmaceutical Co Ltd Health Care S JP JPY 9,400 20.27 $190,584 0.11% Cash & Equivalents Cash C US USD - - $6,518,736 3.77% Download Fund Commentary (PDF) Fund Holdings Sort order Avg. Weight Total Return Hyundai Motor Co 1 3.77% 16.62% Fox Corp, Class B 2 1.92% 11.88% Alphabet Inc, Class C 3 0.55% 20.56% Amorepacific Corp Preferred 4 0.46% 27.24% Naked Wines PLC 5 0.30% 15.74% Unit Corp 6 3.11% 2.03% Microsoft Corp 7 0.47% 6.37% News Corp, Class A 8 0.43% 5.31% Kohsoku Corp 9 0.70% 1.46% Charles Schwab Corp 10 0.79% 2.10% As of: 06/30/2024 The 10 Best and Worst Performing Stocks are determined based on the stock's contribution to the Fund’s return during the specified quarter. Download Fund Commentary (PDF) Fund Holdings Sort order Avg. Weight Total Return Bollore SE 20 9.97% -11.57% HI-LEX Corp 19 3.97% -17.22% Cie de L'Odet SE 18 3.98% -17.00% Samsung Electronics Co Ltd Preferred 17 8.34% -8.12% Samsung C&T Corp 16 4.97% -12.38% Canadian Natural Resources Ltd 15 7.68% -5.65% LG H&H Co Ltd Preferred 14 3.34% -11.27% CB Industrial Product Holding Bhd 13 1.66% -13.00% Total Energy Services Inc 12 4.10% -5.50% U-Haul Holding Co Non-Voting 11 2.08% -9.94% As of: 06/30/2024 The 10 Best and Worst Performing Stocks are determined based on the stock's contribution to the Fund’s return during the specified quarter. Read Important Investment Disclosures Read Important Investment Disclosures Regional Allocation As of: 06/30/2024 View Allocation Details Allocation Details Yacktman Global Fund (YFSIX) Sector Allocation (Equity) Investment Allocation Country Allocation Regional Allocation Top 10 Industries Sector Sort Order Fund MSCI World Index Industrials 24.40% 10.68% Energy 15.92% 4.27% Consumer Discretionary 15.36% 10.17% Communication Services 13.18% 7.80% Information Technology 12.46% 25.95% Consumer Staples 8.44% 6.32% Cash & Other 3.77% 0.00% Materials 3.52% 3.65% Health Care 2.44% 11.77% Financials 0.51% 14.84% Real Estate 0.00% 2.11% Utilities 0.00% 2.44% As of: 06/30/2024 Investment Allocation 06/30/2024 Stocks 96.23% Bonds 0.00% Cash and Other 3.77% As of: 06/30/2024 Country Fund MSCI World Index South Korea 33.87% 0.00% Japan 18.35% 5.68% France 13.00% 2.81% United States 12.92% 72.08% Canada 11.51% 2.92% Bermuda 3.21% 0.00% Malaysia 1.60% 0.00% Germany 0.91% 2.16% United Kingdom 0.86% 3.72% % in Top 9 Countries 96.23% 89.37% As of: 06/30/2024 Region Fund MSCI World Index Developed 57.55% 100.00% Europe & Middle East 14.77% 16.61% North America 24.42% 75.01% Pacific 18.35% 8.38% Emerging 35.46% 0.00% Asia 35.46% 0.00% Latin America 0.00% 0.00% Europe & Middle East 0.00% 0.00% Africa 0.00% 0.00% Frontier 0.00% 0.00% Africa 0.00% 0.00% Asia 0.00% 0.00% Europe 0.00% 0.00% Latin America 0.00% 0.00% Middle East 0.00% 0.00% Cash & Other 6.98% 0.00% As of: 06/30/2024 Industry Fund MSCI World Index Oil, Gas & Consumable Fuels 11.62% 4.06% Entertainment 10.07% 1.13% Technology Hardware, Storage & Peripherals 8.51% 5.14% Automobile Components 8.47% 0.20% Industrial Conglomerates 5.11% 0.75% Trading Companies & Distributors 4.81% 0.80% Automobiles 4.57% 1.88% Energy Equipment & Services 4.29% 0.21% Personal Care Products 3.66% 0.57% Air Freight & Logistics 3.65% 0.42% % in Top 10 Industries 64.76% 15.16% As of: 06/30/2024 Read Important Investment Disclosures About the Affiliate About Yacktman Asset Management Yacktman Asset Management is a boutique investment firm located in Austin, Texas. Since 1992, the firm has navigated multiple market cycles while adhering to a disciplined investment approach led by Stephen Yacktman, Chief Investment Officer. The firm strives to achieve solid risk-adjusted returns over time. Learn More About Yacktman Asset Management's Approach FOUNDED 1992 AMG AFFILIATE SINCE 2012 HEADQUARTERS Austin, TX Portfolio Managers Stephen A. Yacktman CHIEF INVESTMENT OFFICER, PARTNER, AND PORTFOLIO MANAGER Read full bio Jason S. Subotky PARTNER AND PORTFOLIO MANAGER Read full bio Adam P. Sues PARTNER AND PORTFOLIO MANAGER Read full bio Investment Approach Investment Approach Yacktman Global Fund The Fund seeks to benefit from a flexible investment mandate resulting in a broad opportunity set for generating new ideas. The unconstrained, global investment universe includes all market capitalizations. The investment process focuses on: Good Business 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 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 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 Yacktman is not limited by geographic constraints and sources investment ideas both within the U.S. and overseas Podcast: Resilient Investing with Adam Sues of Yacktman Listen to a recent interview with Adam Sues of Yacktman Asset Management on the “Deconstructing Alpha” podcast where he discusses the history of the firm, Yacktman’s 30th anniversary, and its unique approach to value investing. Listen to Podcast Related products Other Products From Yacktman Asset Management YAFFX Yacktman Focused Fund View Fund Details YACKX Yacktman Fund View Fund Details YASSX Yacktman Special Opportunities Fund View Fund Details Stay up-to-date Sign up to receive our latest views and thinking, in addition to other news and product-related information. CHOOSE SUBSCRIPTIONS