YCG Investments
“If you buy above average businesses at below average prices, on average, we believe you should come out ahead.” — Brian Yacktman

Client Letters

On a quarterly basis our investment committee, led by Brian Yacktman, writes and distributes a client letter that highlights investment research and discussions on positions within the firm's strategies. Although the focus for our investment committee is on individual companies, we will also occasionally discuss and share our opinion on the macro economy as we deem appropriate. Please find below the archive for our previous letters sent to our clients. A careful study of the letters will provide further insight into our firm's investment philosophy, style, and approach.

Q1 2017 Client Letter

Posted: March 31, 2017

Q4 2016 Client Letter

Posted: January 30, 2017

Q3 2016 Client Letter

Posted: October 28, 2016

Q2 2016 Client Letter

Posted: July 29, 2016

Q1 2016 Client Letter

Posted: April 29, 2016

Q4 2015 Client Letter

Posted: January 29, 2016

Q3 2015 Client Letter

Posted: October 27, 2015

Q2 2015 Client Letter

Posted: June 30, 2015

Q1 2015 Client Letter

Posted: March 31, 2015

Q4 2014 Client Letter

Posted: December 31, 2014

Q3 2014 Client Letter

Posted: September 30, 2014

Q2 2014 Client Letter

Posted: June 30, 2014

Q1 2014 Client Letter

Posted: March 31, 2014

Q4 2013 Client Letter

Posted: December 31, 2013

Q3 2013 Client Letter

Posted: September 30, 2013

Q2 2013 Client Letter

Posted: June 30, 2013

Q1 2013 Client Letter

Posted: March 31, 2013

Q4 2012 Client Letter

Posted: December 31, 2012

Q3 2012 Client Letter

Posted: September 30, 2012

Q2 2012 Client Letter

Posted: June 30, 2012

Q1 2012 Client Letter

Posted: March 31, 2012

Q4 2011 Client Letter

Posted: December 31, 2011

Q3 2011 Client Letter

Posted: September 30, 2011

Q2 2011 Client Letter

Posted: June 30, 2011

Q1 2011 Client Letter

Posted: March 31, 2011

Q4 2010 Client Letter

Posted: December 31, 2010

Q3 2010 Client Letter

Posted: September 30, 2010

Q2 2010 Client Letter

Posted: June 30, 2010

Q1 2010 Client Letter

Posted: March 31, 2010

Q4 2009 Client Letter

Posted: December 31, 2009

Q3 2009 Client Letter

Posted: September 30, 2009

Q2 2009 Client Letter

Posted: June 30, 2009

Q1 2009 Client Letter

Posted: March 31, 2009

Q4 2008 Client Letter

Posted: December 31, 2008

Q3 2008 Client Letter

Posted: September 30, 2008

Q2 2008 Client Letter

Posted: June 30, 2008