While the market is up close to 100% over its March 2009 low, top value manager Donald Yacktman says he’s still finding bargains.

“We have bought Apollo Group — a private universities company — and H&R Block, which does tax preparation work in the US,” Yacktman tells the Financial News. “While the market is a lot higher than it was two years ago, it is unique to see so many large profitable companies selling as cheaply as they are.”

Yacktman’s new purchases have something in common: “They were all cheap,” Yacktman explained, adding, “We very, very rarely sell on a price decline. It’s almost always after a rise in price.”

The article also talks a bit about Yacktman’s overall strategy. In addition to keying on cheap stocks, he takes a long-term approach, buying stocks that he’d “feel safe owning ‘even if the stock market shut down for three years’ and he couldn’t sell them,” according to Financial News. That results in a lot less turnover than most funds — while the average U.S. mutual fund has a turnover rate of about 100%, Yacktman’s fund is at just 30%. His holdings also deviate quite a bit from the broader market indices, Financial News reports.