David Herro on Bloomberg (10.11.19)

October 11, 2019

Portfolio Manager David Herro appeared on Bloomberg to discuss current holdings, including those in the materials and financials sectors.

The holdings mentioned comprise the following percentages of the Oakmark International Fund’s total net assets as of 09/30/19:

Security TitleOakmark International Fund
Anglo American0%
BNP Paribas4.0%
Credit Suisse Group3.4%
Evraz PLC0%
Intesa Sanpaolo3.9%
Lloyds Banking Group3.3%
Royal Bank of Scotland1.9%

Portfolio holdings are subject to change without notice and are not intended as recommendations of individual stocks. Current and future portfolio holdings are subject to risk. Portfolio holdings represent only securities held in the U.S. domiciled Oakmark Funds and may not be representative of any other portfolio managed by Harris Associates L.P. 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.

View the full list of Oakmark International Fund holdings as of the most recent quarter-end here.

The FTSE 100 Index is a capitalization-weighted index of the 100 most highly capitalized companies listed on the London Stock Exchange. The equities use an investibility weighting in the index calculation. This index is unmanaged and investors cannot invest directly in this index.

The STOXX Europe 600 Index is derived from the STOXX Europe Total Market Index (TMI) and is a subset of the STOXX Global 1800 Index. With a fixed number of 600 components, the STOXX Europe 600 Index represents large, mid and small capitalization companies across 17 countries of the European region. This index is unmanaged and investors cannot invest directly in this index.

The Oakmark International Fund’s portfolio tend 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’s will have a greater impact on the Funds’ net asset value than it would if the Fund’s 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.

Investing in foreign securities presents risks that in some ways may be greater than U.S. investments. Those risks include: currency fluctuation; different regulation, accounting standards, trading practices and levels of available information; generally higher transaction costs; and political risks.

The discussion of the Funds’ investments and investment strategy (including current investment themes, the portfolio managers’ research and investment process, and portfolio characteristics) represents the Funds’ investments and the views of the portfolio managers and Harris Associates L.P., the Funds’ investment adviser, as of the date written and are subject to change without notice.