YCG, LLC

YCG, LLC

YCG, LLC was founded in 2011 by W. Brett Milam and James B. Dyk III in Austin, Texas. Milam previously worked as an analyst at a value-focused fund, while Dyk brought compliance and operations expertise. The firm operates as an SEC-registered investment adviser, offering separate account management and pooled vehicles for high-net-worth individuals and institutions. The firm pursues a concentrated, value-oriented equity strategy, typically holding 15–25 positions in large-cap and mid-cap stocks that meet strict valuation and quality thresholds. YCG also manages a private credit sleeve through direct lending and structured notes. Known portfolio holdings have included Berkshire Hathaway, Alphabet, and Microsoft — all disclosed via 13F filings (per SEC filings, 2023). Geographic focus centers on the US, with selective exposure to developed European markets. YCG's team remains lean, with Milam serving as CIO and lead portfolio manager. The firm does not disclose AUM or total professionals publicly. In May 2025, the firm updated its Form ADV with the SEC, confirming ongoing operations (per SEC, May 2025). No philanthropic or operating-company affiliates are publicly identified. YCG differentiates itself through a concentrated, research-intensive process that mirrors classic Graham-and-Dodd value investing in an era of passive indexing. The partnership structure — with Milam as majority owner — aligns portfolio duration with the patient mandate. The firm avoids hedge fund strategies, leverage, and high-turnover trading, maintaining a low-fee, long-only posture.