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

111 South Wacker Drive, Suite 4600
Chicago, Illinois 60606
312-646-3600

The Quarterly Recap

Commentary

The High Price of Low Volatility | U.S. Equity market commentary 2Q23

June 30, 2023

Bill Nygren discusses how value investing requires zigging when the consensus is zagging. We expect that eventually, the premium investors pay for low volatility will diminish, and we would expect our Oakmark portfolios to...

Looking back – and forward: Navigating today’s environment | Fixed Income market commentary 2Q23

June 30, 2023

Adam Abbas discusses celebrating the three-year mark of the Oakmark Bond Fund. This milestone offers a chance to look back, analyze and plan.

Oakmark Fund: Second Calendar Quarter 2023

June 30, 2023

We initiated five new holdings and eliminated five others. Most of the eliminations were in companies that we invested in or added to last year when faster growing stocks sold-off sharply. However, trends reversed...

Oakmark Select Fund: Second Calendar Quarter 2023

June 30, 2023

Our focus on intrinsic value often enables us to unearth undervalued investment opportunities that are not easily captured by traditional value metrics.

Oakmark Global Fund: Second Calendar Quarter 2023

June 30, 2023

During the quarter, we initiated new positions in three companies and eliminated our positions in four companies.

Oakmark Global Select Fund: Second Calendar Quarter 2023

June 30, 2023

A top contributor to the Fund’s performance was a global communications services provided based in the U.S., while a Chinese multinational technology company was a top detractor.

Oakmark International Fund: Second Calendar Quarter 2023

June 30, 2023

A top contributor to the Fund’s performance was a German multinational automobile manufacturer, while a Chinese multinational technology company was a top detractor.

Oakmark International Small Cap Fund: Second Calendar Quarter 2023

June 30, 2023

A top contributor to the Fund’s performance was a German software and services technology company, while a Swedish media and entertainment company was a top detractor.

Oakmark Equity and Income Fund: Second Calendar Quarter 2023

June 30, 2023

We have managed the Equity and Income Fund in the same manner for its nearly 28-year existence. Our understanding of how to determine value continues to evolve, but our fundamental principles remain constant. We...

Oakmark Bond Fund: Second Calendar Quarter 2023

June 30, 2023

As we celebrate our three-year milestone, we’re keenly aware of the potential that lies ahead. We will maintain our focus on individual security selection, active management, and the same patient, long-term perspective that characterizes...

Bill Nygren Market Commentary | 1Q23

March 31, 2023

At Oakmark, we never feel pressured to find the next great deal. Our team has largely been together for more than a decade, we have always invested in public securities, and we never take...

David Herro Market Commentary | 1Q23

March 31, 2023

As a fundamentally driven value investment manager, volatility presents us with the opportunity to advantageously position portfolios to maximize long-term return potential. In previous times of crisis, we have adhered to our disciplined and...

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