Love Employee/iStock via Getty Images Average Annual Returns (%)1 (as of 12/31/25) Q4 YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception YAFFX (Class N) 8.61 23.94 23.94 13.28 9.25 11.57 9.97 2 YAFIX (Class I) 8.66 24.14 24.14 13.47 9.44 11.77 11.53 3 Russell 1000® Value Index 3.81 15.91 15.91 13.90 11.33 10.53 8.64 2 S&P 500® Index 2.66 17.88 17.88 23.01 14.43 14.82 9.75 2 Click to enlarge YAFFX (Class N) ...
Love Employee/iStock via Getty Images Average Annual Returns (%)1 (as of 12/31/25) Q4 YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception YAFFX (Class N) 8.61 23.94 23.94 13.28 9.25 11.57 9.97 2 YAFIX (Class I) 8.66 24.14 24.14 13.47 9.44 11.77 11.53 3 Russell 1000® Value Index 3.81 15.91 15.91 13.90 11.33 10.53 8.64 2 S&P 500® Index 2.66 17.88 17.88 23.01 14.43 14.82 9.75 2 Click to enlarge YAFFX (Class N) Expense Ratio (Gross/Net) 4 : 1.25%/1.25% YAFIX (Class I) Expense Ratio (Gross/Net) 4 : 1.07%/1.07% 1 Returns for periods less than one year are not annualized. 2 Since the inception of Class N shares on May 1, 1997. 3 Since the inception of Class I shares on July 24, 2012. 4 The Fund has no up-front sales charges or deferred sales charges. Please refer to the Fund’s Prospectus for additional information on the Fund’s expenses. The performance data shown represents past performance. Past performance is not a guarantee of future results. 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 or visit our website at wealth.amg.com. From time to time the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. Overview The AMG Yacktman Focused Fund (the Fund)( YAFIX ) returned 8.66% for the fourth quarter and 24.14% for 2025, outperforming both the Russell 1000® Value Index and the S&P 500 Index. The U.S. indices continued to reach record highs after standout results in 2023 and 2024 driven by multiple expansion and artificial intelligence (AI) exuberance. Yacktman builds the portfolio based on evaluating normalized free cash flow and business fundamentals of each company, then we compare the price we have to pay for a given investment to arrive at a forward rate of return based on the current market valuation of each company. Then we appl...
Wednesday, March 18th, 2026 The big news this morning is an unexpectedly hot inflation report. The Producer Price Index (PPI) for February more than doubled estimates on headline, month over month: +0.7% for wholesale inflation last month — ahead of the consensus +0.3% and the unrevised +0.5% for January. This is the fourth-straight higher headline PPI print, and the loftiest figure since July of ...
Wednesday, March 18th, 2026 The big news this morning is an unexpectedly hot inflation report. The Producer Price Index (PPI) for February more than doubled estimates on headline, month over month: +0.7% for wholesale inflation last month — ahead of the consensus +0.3% and the unrevised +0.5% for January. This is the fourth-straight higher headline PPI print, and the loftiest figure since July of last year. Stripping out volatile food and energy prices, core PPI still comes in hotter than expected, by 20 basis points (bps) to +0.5%. This is actually down from the previous month, which was revised up half a full percentage point to +0.8%. Ex-food, energy and trade came in at +0.5% as well, above the +0.3% projected and revised +0.4% from January. Most analysts spend more time on year-over-year numbers, and here we’re warming up, too: +3.4% on headline PPI is +0.5% higher than the prior month, and the hottest we’ve seen since January of 2025. Same with core PPI: +3.9% is the highest in 13 months, and after three-straight months hitting +3% exactly, we’ve now escalated on core PPI for three months in a row. Ex-food, energy and trade reached +3.5%, a mere +0.1% higher than the prior print. Couple this with last week’s Personal Consumption Expenditures (PCE) report, which notched over +3%, and we see the Fed having a hard time cutting interest rates in the current inflationary environment. (Fed Chair Jerome Powell gives his penultimate post-FOMC meeting press release today around 2:30pm ET.) And this is before we consider how the attacks on Iran leading to the closure of the Strait of Hormuz have affected oil prices so far this month. Earnings Reports for Today: M, GIS & More Ahead of today’s open, Macy’s M beat estimates in its Q4 report, with earnings of $1.67 per share easily surpassing the $1.53 in the Zacks consensus, for a +9.15% positive surprise. Revenues of $7.64 billion in the quarter came ahead of estimates by +1.53%, though are still lower than the year-ago q...
Hi, it’s Crystal Tse in London, where I’ve just taken the temperature of M&A from a group of dealmakers at McKinsey & Co. and Goldman Sachs. Elsewhere, Unilever could be losing its appetite. Today’s top stories Unilever considers potential separation of food assets. TDR, I Squared seek bank pitches for US IPO of Aggreko. UniCredit CEO says Commerzbank bid intended to break stalemate . Elliott take...
Hi, it’s Crystal Tse in London, where I’ve just taken the temperature of M&A from a group of dealmakers at McKinsey & Co. and Goldman Sachs. Elsewhere, Unilever could be losing its appetite. Today’s top stories Unilever considers potential separation of food assets. TDR, I Squared seek bank pitches for US IPO of Aggreko. UniCredit CEO says Commerzbank bid intended to break stalemate . Elliott takes stake in Japanese shipper Mitsui OSK Lines. It’s fine, really A healthy M&A environment relies on optimism, with advisers often the loudest cheerleaders even when markets are spinning and the amount of buying and selling is trending lower. I was reminded of this again on Tuesday, when I caught up with a bunch of senior executives at McKinsey & Co. and Goldman Sachs, which had convened a gathering of M&A professionals in London to talk shop as we approach the end of a bumpy Q1. The general consensus among those I spoke with at the event was that markets have had to manage a lot of upheaval in recent years—from the pandemic to trade wars—which has made boards more comfortable about transacting in such times. “I think people got used to the volatility and are now used to dealmaking in a volatile world,” said Mieke Van Oostende, who co-leads McKinsey’s M&A team globally, whose comments were echoed by Tobias Lundberg, head of the consultancy’s M&A strategy services in Europe. That theory has been tested in 2026, first with an AI-induced tech selloff and now with a war in Iran that’s bringing fresh inflationary pressures. The most recent figures suggest that dealmakers might not be quite as comfortable as Van Oostende and her fellow optimists think. Data compiled by Bloomberg show that global M&A values are down roughly 3% year-on-year at about $605 billion; they’d been trending higher as recently as a week ago. Deal numbers are also lower, showing a clear slowing of underlying momentum . Previous analysis of our data showed that M&A numbers do tend to fall in the wake of milit...
imaginima/E+ via Getty Images Commercial crude stocks (excluding those in the Strategic Petroleum Reserve) for the week ended March 13: 449.3M barrels. Crude inventory change: +6.2M barrels vs. +3.8M barrels for the week ended March 6. Consensus estimate: -1.500M. Gasoline inventory change: -5.4M barrels vs. -3.7M barrels for the week ended March 6. Distillates inventory change: -2.5M barrels vs. ...
imaginima/E+ via Getty Images Commercial crude stocks (excluding those in the Strategic Petroleum Reserve) for the week ended March 13: 449.3M barrels. Crude inventory change: +6.2M barrels vs. +3.8M barrels for the week ended March 6. Consensus estimate: -1.500M. Gasoline inventory change: -5.4M barrels vs. -3.7M barrels for the week ended March 6. Distillates inventory change: -2.5M barrels vs. -1.3M for the week ended March 6. On March 11, the Trump administration authorized the Department of Energy to release 172M barrels from the SPR, beginning this week, to stabilize global oil supply amid Middle East disruptions. This is expected to take around 120 days to deliver based on planned discharge rates. The DOE later issued a request for proposal for a crude oil exchange from SPR as part of the 172M barrel exchange. This first request for proposal is for 86M barrels of crude oil. As of March 13, the SPR held ~415M barrels of oil, up from roughly 395M barrels one year ago. Crude oil futures (CL1: COM) +2.8% to $98.9 per barrel. ETFs: ( USO ), ( UCO ), ( SCO ), ( BNO ), ( DBO ), ( USL ). More on Crude Oil Futures, United States Oil Fund LP ETF, etc. Commodities: Brent Consolidates Above $100 As Disruptions Persist Head And Shoulders In WTI - Is The Rally Over For Crude Oil? Stock Markets Mixed Ahead Of FOMC Macro Insights: War, Oil, AI, And Your Retirement Brent crude rises to three-and-a-half-year high as Iran widens strikes on energy targets U.S. crude stockpiles rose 6.6M barrels last week, API says
BMW (BMW.DE) officially unveiled its new i3 EV on Wednesday, a sedan loaded with the automaker’s sport-oriented DNA and a Tesla-fighting 440 miles of estimated range. The new i3, the second model built on BMW’s next-gen Neue Klasse platform, is longer, wider, and taller than the outgoing 3 Series and previews the design of the upcoming gas-powered 3 Series, the standard bearer in the class. The ne...
BMW (BMW.DE) officially unveiled its new i3 EV on Wednesday, a sedan loaded with the automaker’s sport-oriented DNA and a Tesla-fighting 440 miles of estimated range. The new i3, the second model built on BMW’s next-gen Neue Klasse platform, is longer, wider, and taller than the outgoing 3 Series and previews the design of the upcoming gas-powered 3 Series, the standard bearer in the class. The new BMW i3 50 xDrive. · BMW The i3 launches with the 50 xDrive variant, an all-wheel-drive dual-motor setup pumping out 469 horsepower, putting it in direct competition with Tesla's (TSLA) Model 3 Performance, which delivers 510 horsepower. BMW is claiming 900 km of range on Europe’s WLTP cycle, translating to an EPA-estimated 440 miles on a single charge, with charging capability that can add around 250 miles in just 10 minutes. Tesla’s Model 3 Premium has 363 EPA-estimated miles of range, with the Performance coming in lower at 309 miles Read more: How to find the best luxury car insurance The new BMW i3 50 xDrive. · BMW The i3 powertrain is based on sixth-generation eDrive technology with an 800-volt architecture and new high-energy-density batteries, with 0-60 mph targeting four seconds. The interior also gets a significant overhaul, featuring a panoramic display stretching 40 inches across the instrument panel and an updated iDrive system, alongside BMW's new Heart of Joy computing platform that operates 10 times faster than previous systems. While US pricing hasn’t been released, BMW is expected to launch the car in the US at around $55,000, putting it above the Tesla Model 3 Premium AWD, which starts around $47,490, but right at the Model 3 Performance’s MSRP of $54,990. Inside the new BMW i3 50 xDrive. · BMW BMW said production kicks off in Munich this August, with European deliveries starting later in the fall. US deliveries are expected in 2027, with BMW likely bringing more performance variants along the way, including a fully electric M3 confirmed earlier. The i3,...
If Europe is sucked into this illegal conflict with Iran, public support for rearmament could collapse – and only Putin will benefit Once again, Donald Trump has deployed Nato as leverage to get the US’s European allies to submit to his will. After launching an unprovoked war against Iran, in response to which Tehran’s closure of the strait of Hormuz to shipping has sent oil prices soaring, Trump ...
If Europe is sucked into this illegal conflict with Iran, public support for rearmament could collapse – and only Putin will benefit Once again, Donald Trump has deployed Nato as leverage to get the US’s European allies to submit to his will. After launching an unprovoked war against Iran, in response to which Tehran’s closure of the strait of Hormuz to shipping has sent oil prices soaring, Trump now wants his Nato allies in Europe to step in to help clean up his mess. Europeans should do nothing of the kind. Trump’s war of choice with Iran is not going well. Iran has retaliated by targeting US assets and allies in the Gulf. At least 13 US service members have so far been killed in this conflict – a figure dwarfed by more than 1,200 civilian Iranian deaths . The US has spent $16.5bn on just the first 12 days of the war, more than its total humanitarian assistance budget for 2024 . Prolonged high oil prices could lead to a recession in Europe and parts of Asia. Armida van Rij is a senior research fellow at the Centre for European Reform Continue reading...
The President Donald Trump administration’s Department of the Interior (DOI) has revealed a series of deals totaling around $56 billion, including a deal between Tesla Inc. and South Korea’s LG Energy Solutions to kick off production of a $4.3 billion battery plant. Securing Critical Supply Chain In an official statement released on Monday, the agency confirmed that it had “catalyzed” agreements w...
The President Donald Trump administration’s Department of the Interior (DOI) has revealed a series of deals totaling around $56 billion, including a deal between Tesla Inc. and South Korea’s LG Energy Solutions to kick off production of a $4.3 billion battery plant. Securing Critical Supply Chain In an official statement released on Monday, the agency confirmed that it had “catalyzed” agreements worth over $56 billion in “private sector commitments that will create good-paying American jobs and secure critical energy supply chains.” Among the agreements, the DOI also mentioned the deal between Tesla and LG Energy. Don't Miss: “Tesla and LG Energy Solution are expanding their partnership with a supply agreement to build a $4.3 billion LFP prismatic battery cell manufacturing facility,” the statement said. It added that the facility in Lansing, Michigan, will kick off production in 2027 for the automaker’s Megapack 3 energy storage system, produced in Houston, Texas. Tesla’s Battery Efforts, The news comes as Tesla had earlier signed an agreement worth $2 billion with South Korea’s Samsung SDI, after the company recorded sustained growth in its energy storage business, deploying a record 14.2 gigawatt-hours worth of batteries in Q4 2025. The company had also filed a patent, unveiling a breakthrough in battery chemistry. The patent detailed a new ‘dicarbonate’ solvent (Dimethyl 2,5-dioxahexanedioate or DMOHC) and a new Lithium bis(fluorosulfonyl)imide (LiFSI) salt. The new chemistry can help a Lithium-Ion battery perform more efficiently under high voltage and high temperature conditions. Read Next: A Rare Pre-IPO Window Is Closing — Invest in Elf Labs Before March 19 1.5 Million Users Are Already Working Inside This AI Platform — Investors Can Still Get In Photo courtesy: Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market....
Jason Doiy/iStock Unreleased via Getty Images Macy's ( M ) stock climbed after the iconic department store's fourth-quarter profits and expectations for FY26 sales beat Wall Street’s expectations. Looking at its peers, when we look at Seeking Alpha’s valuation grade, Macy’s is currently the only large-cap broadline retailer with a strong A valuation grade, signaling that its shares screen as inexp...
Jason Doiy/iStock Unreleased via Getty Images Macy's ( M ) stock climbed after the iconic department store's fourth-quarter profits and expectations for FY26 sales beat Wall Street’s expectations. Looking at its peers, when we look at Seeking Alpha’s valuation grade, Macy’s is currently the only large-cap broadline retailer with a strong A valuation grade, signaling that its shares screen as inexpensive relative to fundamentals such as earnings, cash flow, and book value when compared with peers. Within the broader large-cap broadline retail universe, only a couple of international names are similarly compelling on valuation: Chinese online discounter Vipshop Holdings and B&M European Value Retail in Europe also carry strong valuation grades on Seeking Alpha’s framework. Led by a 10% increase at Bloomingdale’s, Macy’s comparable same-store sales for the crucial holiday season were up 1.8%, beating the company’s expectations. The stock is up about 3.8% so far today. Consumer Discretionary ETFs: ( XLY ), ( VCR ), ( FXD ), ( FDIS ), ( RSPD ), and ( RXI ) More on consumer discretionary stocks Macy's Q4 Preview: High Probability Of An Earnings Beat, Buying The Stock Retail Sector Recap: Consumers Pull Back On Weak Outlook VCR: Vanguard's $6.1 Billion Consumer Discretionary ETF Has Some Major Fundamental Headwinds Macy's tops Q4 estimates, sets cautious guidance for tariff headwinds Macy's beats top-line and bottom-line estimates; introduces FY26 outlook
When the Trump administration rolled out sweeping tariffs on “Liberation Day” in April 2025, the reaction across Southeast Asia was swift: markets dipped, supply chains scrambled and governments went into damage control. Governments had a choice: retaliate or negotiate. They negotiated. Southeast Asian countries including Indonesia Malaysia and Cambodia have signed Agreements on Reciprocal Trade w...
When the Trump administration rolled out sweeping tariffs on “Liberation Day” in April 2025, the reaction across Southeast Asia was swift: markets dipped, supply chains scrambled and governments went into damage control. Governments had a choice: retaliate or negotiate. They negotiated. Southeast Asian countries including Indonesia Malaysia and Cambodia have signed Agreements on Reciprocal Trade with the United States. Those deals lowered tariffs from their peak levels and opened market access for US exports. Then in February, the US Supreme Court rejected the Trump administration’s blanket tariff approach under the International Emergency Economic Powers Act, adding yet another twist to the tariff story. Advertisement That said, here is a reality check: in Southeast Asia, tariffs were never the main obstacle for American business. Non-tariff barriers are. If you’re an American company trying to operate in countries in the Association of Southeast Asian Nations (Asean) – the fourth-largest trading partner of the US, with more than US$500 billion in annual two-way trade – tariffs are usually just a line item. You price them in. Advertisement What you cannot easily price in are shifting regulations, customs procedures, duplicative approvals and opaque licensing systems. These don’t grab headlines. They just kill deals.