Donald Yacktman

Yacktman Funds; forward rate-of-return, free-cash yield

Donald Yacktman founded Yacktman Asset Management and serves as portfolio manager of the Yacktman Fund and Yacktman Focused Fund. His track record spans decades of concentrated, patient ownership of consumer staples and media businesses bought at cyclical lows. His signature framework ranks equities by forward rate of return—normalised free-cash-flow yield plus expected growth—as a disciplined alternative to price-to-earnings ratios.