Investor bets millions more on RIM and BlackBerry 10 with purchase of an additional 12.2 million shares
Yacktman's fund now owns 4.5% of RIM, just under the 5% threshold that would force him to file with the SEC. Such a filing would no doubt set off rumors of a takeover and would send the stock higher. Yacktman's funds are RIM's fifth largest stockholder. While Yacktman won't reveal the exact date of his RIM purchases, he did buy it during the second quarter when the stock ranged between $6.31 and $8.29. That gives the investor a profit of between $30 million and $54 million at current levels. Focusing more on undervalued stocks than indexes, the $7.1 billion Yacktman Focused Fund has returned 12% over the last five years putting it in the top 1% of comparable funds.
We've recently seen some new pictures of BlackBerry 10 models as we get closer to the expected February release of the new phones. RIM will introduce the new platform on January 30th.