News

Bill Nygren in Barron’s

July 7, 2021

Portfolio Manager Bill Nygren talked about why he is open to less traditional value stocks in a “Barron’s” interview.

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Average Annual Total Returns (as of 06/30/2021):

Fund3 Month1 Year3 Year5 Year10 YearInception
OAKMX8.90%65.94%15.85%17.51%14.38%13.14%
S&P 500 Total Return Index8.55%40.79%18.67%17.65%14.84%10.62%

Gross Expense Ratio: 0.93%
Net Expense Ratio: 0.91%
Fund Inception:  08/05/1991

Expense ratios are based on estimated amounts for the current fiscal year; actual expenses may vary.
Returns for periods of less than one year are not annualized.
The net expense ratio reflects a contractual advisory fee waiver agreement through January 27, 2022.

To obtain most recent Oakmark Fund month-end performance data, view it here.

Fund3 Month1 Year3 Year5 Year10 YearInception
OAKLX7.96%66.92%11.63%12.88%11.93%12.31%
S&P 500 Total Return Index8.55%40.79%18.67%17.65%14.84%9.65%

Gross Expense Ratio: 1.03%
Net Expense Ratio: 1.01%
Fund Inception:  11/01/1996

Expense ratios are based on estimated amounts for the current fiscal year; actual expenses may vary.
Returns for periods of less than one year are not annualized.
The net expense ratio reflects a contractual advisory fee waiver agreement through January 27, 2022.

To obtain most recent Oakmark Select Fund month-end performance data, view it here

Past performance is no guarantee of future results. The performance data quoted represents past performance. Current performance may be lower or higher than the performance data quoted. The investment return and principal value vary so that an investor’s shares when redeemed may be worth more or less than the original cost. To obtain the most recent month-end performance data, view it here.

The holdings mentioned comprise the following percentages of total net assets as of 06/30/21:

SecurityOakmark FundOakmark Select
3M0%0%
Ally Financial3.8%5.9%
Alphabet Cl A3.9%11.0%
APA Corp1.8%2.5%
Bank of America3.0%5.2%
Capital One Financial3.8%4.8%
Charles Schwab2.8%0%
Citigroup2.9%5.3%
Comcast Cl A2.6%0%
EOG Resources3.0%3.3%
Facebook Cl A3.3%5.2%
General Motors2.4%0%
Netflix2.4%4.8%

Portfolio holdings are not intended as recommendations of individual stocks and are subject to change. The Funds disclaim any obligation to advise shareholders of such changes. Information about portfolio holdings does not represent a recommendation or an endorsement to Fund shareholders or other members of the public to buy or sell any security contained in the Funds’ portfolios. Portfolio holdings are current to the date listed but are subject to change any time. There are no assurances that the securities will remain in the Funds’ portfolios after the date listed or that the securities that were previously sold may not be repurchased.

Access the full list of holdings for the Oakmark Fund as of the most recent quarter-end.
Access the full list of holdings for the Oakmark Select Fund as of the most recent quarter-end.

The S&P 500 Total Return Index is a float-adjusted, capitalization-weighted index of 500 U.S. large-capitalization stocks representing all major industries. It is a widely recognized index of broad, U.S. equity market performance. Returns reflect the reinvestment of dividends. This index is unmanaged and investors cannot invest directly in this index.

EBITDA refers to Earnings Before the deduction of payments for Interest, Taxes, Depreciation and Amortization which is a measure of operating income.

Investing in value stocks presents the risk that value stocks ay fall out of favor with investors and underperform growth stocks during given periods.

The Fund’s portfolio tends to be invested in a relatively small number of stocks. As a result, the appreciation or depreciation of any one security held by the Fund will have a greater impact on the Fund’s net asset value than it would if the Fund invested in a larger number of securities. Although that strategy has the potential to generate attractive returns over time, it also increases the Fund’s volatility.

Because the Oakmark Select Fund is non-diversified, the performance of each holding will have a greater impact on the Fund’s total return, and may make the Fund’s returns more volatile than a more diversified fund.

Oakmark Select Fund: The stocks of medium-sized companies tend to be more volatile than those of large companies and have underperformed the stocks of small and large companies during some periods.

The information, data, analyses, and opinions presented herein (including current investment themes, the portfolio managers’ research and investment process, and portfolio characteristics) are for informational purposes only and represent the investments and views of the portfolio managers and Harris Associates L.P. as of the date written and are subject to change and may change based on market and other conditions and without notice. This content is not a recommendation of or an offer to buy or sell a security and is not warranted to be correct, complete or accurate.

Certain comments herein are based on current expectations and are considered “forward-looking statements”. These forward looking statements reflect assumptions and analyses made by the portfolio managers and Harris Associates L.P. based on their experience and perception of historical trends, current conditions, expected future developments, and other factors they believe are relevant. Actual future results are subject to a number of investment and other risks and may prove to be different from expectations. Readers are cautioned not to place undue reliance on the forward-looking statements.