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.
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Since 1976, Harris Associates has provided tailored investment solutions for wealthy individuals and families.
David Herro on CNBC’s “Closing Bell Overtime” (02.22.24)
The Quarterly Recap
December 31, 2023
2023 was another rough year for mutual funds and the issue could be that many actively managed funds haven’t been all that “active.”
Two macro themes and economists’ negative outlook caused international market uncertainty, but a focus on research along with a long-term view can help uncover otherwise overlooked opportunities.
Today’s investor is inundated with views on short-term market trends and recommendations, but investing often involves nuances and factors that professional management can help address.
As things stand today, we believe the value opportunity is at least as good as it was at the start of 2022. As long-term value investors, this opportunity excites us.
We added significantly to information technology stocks early in 2023 as we believed the stocks were priced well below their intrinsic values. These holdings performed well and their stock prices have generally increased faster...
The top contributor to the Fund’s performance was a company that specializes in consumer finance, while a top detractor was a life science company with pharmaceuticals, consumer health and crop science divisions.
A top contributor to the Fund’s performance was a company that specializes in consumer finance, while a top detractor was a life science company with pharmaceuticals, consumer health and crop science divisions.
The top contributor to the Fund’s performance was a European ultra-low-cost airline, while a European merchant acquirer and payment processor was the top detractor.
A top contributor to the Fund’s performance was an engineering company that specializes in lifting equipment and associated services, while a global mechanical and plant engineering firm for the automotive industry was a top...
During the quarter, we added one new position in a company that we believe is an attractive price for a solid business where management is pursuing shareholder-friendly policies, like cost-cutting and capital return.
In 2024, we will focus on three key themes: credit selection, continuing our shift from historically overvalued asset classes to those that underperformed last year and remain undervalued, and monitoring how an economic slowdown...
September 30, 2023
The optimists who buy exciting businesses regardless of price have been on quite a run, resulting in today’s unusually wide spread of P/E ratios. Following strong outperformance, selling some high P/E stocks to buy...
Insights and CommentaryBill Nygren, CIO- U.S.
Insights and CommentaryDavid Herro, CIO-International
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