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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Chicago, Illinois 60606
Since 1976, Harris Associates has provided tailored investment solutions for wealthy individuals and families.
Solving Puzzles During A Golden Age of Learning
The Quarterly Recap
December 31, 2020
As value investors, we are used to believing that the world will return to “normal” faster than is implied by stock prices. That is especially true now, when everyone has an opinion about which...
Very similar to the year 2016, this past year was filled with extremes driven by exogenous factors, from the pandemic to Brexit, with elections in between. By the end of the year, both of...
Enthusiasm about the efficacy and timing of the Covid-19 vaccines benefitted many of our most economically sensitive, cyclical holdings during the quarter.
Short-term returns can be uneven and good, as it was in the most recent quarter, or disappointing, as in the first quarter of this year, but we believe our process works over time.
We were fairly active in the quarter, adding two new holdings to the portfolio while eliminating three.
A large contributor to the Fund’s performance was a U.K.-based retail bank, while a large detractor was a China-based internet and direct marketing retailer.
Insights and Commentary by Bill Nygren
Insights and Commentary by David Herro
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