Donald Yacktman, who for more than a decade has posted one of the best track records of any mutual fund manager, is finding big value in an area he once shunned: tech stocks.

“If someone had told me 10 years ago that these stocks would be in my portfolio, I would have laughed,” Yacktman, who avoided tech stocks during the Internet bubble of the late 1990s, tells BusinessWeek in reference to two of his funds’ biggest holdings, Microsoft and Cisco Systems.

Yacktman keys on firms with strong, predictable cash flows, and shares that trade for less than he estimates those cash flows are worth, according to BusinessWeek. He’s finding a lot of value right now in big, blue chip stocks like Coca-Cola and Johnson & Johnson. “I can’t remember a time when so many quality companies were selling at low prices compared to alternatives,” Yacktman says. He’s avoiding most financials, however, because of the difficulty in analyzing their value.