The Oakmark Funds are advised by Harris Associates L.P. an autonomous subsidiary of Natixis Investment Managers, L.P.

Learn more about the principles and philosophy behind our funds at HarrisAssoc.com.

Harris Associates

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Chicago, Illinois 60606
312-646-3600

The Quarterly Recap

Commentary

Bill Nygren Market Commentary | 2Q22

June 30, 2022

In this quarter’s commentary, I attempt to put this environment—bear markets, recessions and high inflation—into historical context and evaluate whether it warrants portfolio repositioning.

Oakmark Fund: Second Quarter 2022

June 30, 2022

The current environment has provided us with the opportunity to add several new positions to the Fund and rebalance toward companies with higher risk-adjusted returns, largely by eliminating holdings that have withstood the downturn...

Oakmark Select Fund: Second Quarter 2022

June 30, 2022

At Oakmark, we believe stock prices are far more volatile than business values. Consequently, when volatility increases, as it did in the second quarter, there is a good chance our trading activity will increase,...

Oakmark Global Fund: Second Quarter 2022

June 30, 2022

Market prices are more volatile than intrinsic value, and it is our job to prey upon this volatility. We have been active in the Fund, reallocating from issues that have outperformed to new opportunities...

Oakmark Global Select Fund: Second Quarter 2022

June 30, 2022

A top contributor to the Fund’s performance was a global internet and technology company based in the Netherlands, while a top detractor was a U.S.-based communication services provider.

Oakmark International Fund: Second Quarter 2022

June 30, 2022

A top contributor to the Fund’s performance was a global internet and technology company based in the Netherlands, while a top detractor was a Swiss financial services company.

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