Oakmark Bond

Objective

Current income and total return

Oakmark Bond invests primarily in a diversified portfolio of bonds and other fixed-income securities.

Account Minimums

Through certain intermediaries held in omnibus accounts

N/A

Through all other platforms, including directly with the Fund or through intermediaries not held in omnibus accounts

$250,000

In certain retirement plans

N/A

Intermediaries may impose their own minimum investment requirements.

Performance Returns

Returns % as of 03/31/2024

Gross Expense Ratio: 1.08%

Net Expense Ratio: 0.52%

Fund Inception: 06/10/2020

Expense ratios are from the Fund’s most recent prospectus dated January 28, 2024; actual expenses may vary.
Returns for periods of less than one year are not annualized.

The Fund’s Adviser has contractually undertaken to waive and/or reimburse certain fees and expenses so that the total annual operating expenses of each class are limited to 0.74%, 0.54%, 0.52% and 0.44% of average net assets, respectively. Each of these undertakings lasts until 01/27/2025 and may only be modified by mutual agreement of the parties.

The Fund is recently established and has limited operating and performance history.

Past performance is no guarantee of future results. The performance data quoted represents past performance. Current performance may be lower or higher than the performance data quoted. Total return includes change in share prices and, in each case, includes reinvestment of dividends and capital gain distributions. The investment return and principal value vary so that an investor’s shares, when redeemed, may be worth more or less than the original cost.

The Oakmark Bond Fund invests primarily in a diversified portfolio of bonds and other fixed-income securities. These include, but are not limited to, investment grade corporate bonds; U.S. or non-U.S.-government and government-related obligations (such as, U.S. treasury securities); below investment-grade corporate bonds; agency mortgage backed-securities; commercial mortgage- and asset-backed securities; senior loans (such as, leveraged loans, bank loans, covenant lite loans, and/or floating rate loans); assignments; restricted securities (e.g., Rule 144A securities); and other fixed and floating rate instruments. The Fund may invest up to 20% of its assets in equity securities, such as common stocks and preferred stocks. The Fund may also hold cash or short-term debt securities from time to time and for temporary defensive purposes.

Under normal market conditions, the Fund invests at least 25% of its assets in investment-grade fixed-income securities and may invest up to 35% of its assets in below investment-grade fixed-income securities (commonly known as “high-yield” or “junk bonds”).

Fixed income risks include interest-rate and credit risk. Typically, when interest rates rise, there is a corresponding decline in bond values. Credit risk refers to the possibility that the bond issuer will not be able to make principal and interest payments.

Bond values fluctuate in price so the value of your investment can go down depending on market conditions.

The Bloomberg U.S. Aggregate Bond is a broad-based benchmark that measures the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market. The index includes Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid ARM pass-throughs), asset-backed securities and commercial mortgage-backed securities (agency and non-agency). This index is unmanaged and investors cannot invest directly in this index.

Portfolio Characteristics

As of 03/31/2024

Beta vs. Benchmark

0.893

Standard Deviation

6.23%

30-Day Unsubsidized SEC Yield

4.79%

30-Day Subsidized SEC Yield

5.08%

Distribution Yield

4.54%

Top 10 Holdings

As of 03/31/2024

Total % in Top 10 Holdings 23.1%

Total # of Holdings 142

Assets Under Mgmt. $153.95M

View list

Security

Percent of Net Assets

FN MA4182 2.000% Due 11-01-50

2.6%

FHMS K1522 A2 2.361% Due 10-25-36

2.6%

FN CB2773 2.000% Due 02-01-52

2.6%

FHMS K-1515 A2 1.940% Due 02-25-35

2.6%

FHMS K-1521 A2 2.184% Due 08-25-36

2.5%

FN FS6468 5.000% Due 10-01-53

2.5%

FN BW9855 5.000% Due 09-01-52

2.4%

US Treasury Note 4.000% Due 01-31-31

1.9%

US Treasury Note 2.875% Due 05-15-32

1.8%

US Treasury Note 3.500% Due 01-31-30

1.6%

US Treasury Note 0.625% Due 08-15-30

1.6%

US Treasury Note 4.250% Due 02-15-54

1.5%

FN DA8695 5.000% Due 02-01-54

1.5%

BANK 2022-BNK40 A4 3.393% Due 03-15-64

1.4%

US Treasury Note 4.750% Due 11-15-43

1.4%

US Treasury Note 4.000% Due 02-15-34

1.3%

JPMMT 2018-6 B2 3.888% Due 12-25-48

1.3%

US Treasury Note 3.000% Due 08-15-52

1.3%

Citadel Term Loan B 7.579% Due 07-29-30

1.1%

Chesapeake CC 02/24 144A 5.875% Due 02-01-29

1.1%

Worldpay Loan B 8.329% Due 01-31-31

1.0%

Caliber Collision Loan B 9.079% Due 01-30-31

1.0%

Peer Holding Loan B 8.579% Due 10-26-30

1.0%

Vestis Loan B 7.679% Due 02-24-31

1.0%

US Treasury Note 4.375% Due 08-15-43

1.0%

Parsley Energy CC 2/23 144A 4.125% Due 02-15-28

0.9%

JBS USA CC 12/33 144A 6.750% Due 03-15-34

0.9%

Charles Schwab CB 05/33 5.853% Due 05-19-34

0.9%

Tapestry CC 08/33 7.850% Due 11-27-33

0.9%

Medline Term Loan B 8.077% Due 10-23-28

0.9%

US Treasury Note 3.625% Due 05-15-53

0.9%

Brunswick CC 05/31 2.400% Due 08-18-31

0.8%

United Parcel Service CC12/32 4.875% Due 03-03-33

0.8%

Citigroup QC 01/25 4.700% Due 07-30-71

0.8%

AutoNation CC 12/31 3.850% Due 03-01-32

0.8%

Truist Financial CC 06/33 5.867% Due 06-08-34

0.7%

Glencore CC 6/31 144A 2.625% Due 09-23-31

0.7%

Raising Cane's CC 11/25 144A 9.375% Due 05-01-29

0.7%

Alexandria Real Estate CC 01/35 4.750% Due 04-15-35

0.7%

FR SD2473 5.000% Due 02-01-53

0.7%

GSMBS 2021-PJ6 B1 2.680% Due 11-25-51

0.7%

Apollo Com CC 06/24 144A 4.625% Due 06-15-29

0.7%

Uber CC 08/24 144A 4.500% Due 08-15-29

0.7%

Tenet Healthcare CC 05/26 144A 6.750% Due 05-15-31

0.7%

EQT CC 03/28 5.700% Due 04-01-28

0.7%

HESM CC 02/25 144A 4.250% Due 02-15-30

0.7%

Cushman & Wake CC 07/23 144A 6.750% Due 05-15-28

0.7%

Morgan Stanley CC 01/29 5.173% Due 01-16-30

0.7%

Phinia CC 04/26 144A 6.750% Due 04-15-29

0.7%

Cheniere Energy CC 10/33 144A 5.650% Due 04-15-34

0.7%

HPEFS 2022-3A C 6.130% Due 08-20-29

0.7%

Humana CC 02/31 5.375% Due 04-15-31

0.7%

Patterson-UTI CC 07/33 7.150% Due 10-01-33

0.7%

FORDO 2022-C C 5.220% Due 03-15-30

0.6%

Amer Sports Loan B 8.576% Due 02-18-31

0.6%

Starbucks CC 11/33 5.000% Due 02-15-34

0.6%

Philip Morris CC 11/33 5.250% Due 02-13-34

0.6%

Lithia Motors CC 10/25 144A 4.375% Due 01-15-31

0.6%

ChampionX Term Loan B 8.179% Due 06-07-29

0.6%

KKR Group CC 02/32 144A 4.850% Due 05-17-32

0.6%

Boeing CC 11/49 5.805% Due 05-01-50

0.6%

CRVNA 2022-P1 D 4.800% Due 01-10-29

0.6%

Wells Fargo QC 03/26 3.900% Due 01-01-50

0.6%

Viterra Finance CC 03/26 144A 2.000% Due 04-21-26

0.6%

Anglo American CC 01/29 144A 3.875% Due 03-16-29

0.6%

Southern Co CB 06/26 3.750% Due 09-15-51

0.6%

Uber Technologies Loan B 8.081% Due 03-04-30

0.6%

Capital One QC 09/26 3.950% Due 03-17-50

0.6%

Bat Capital CC 01/28 2.259% Due 03-25-28

0.6%

Celanese CC 08/33 6.700% Due 11-15-33

0.6%

Hilton Domestic CC 08/26 144A 3.625% Due 02-15-32

0.6%

Dollar General CC 04/33 5.450% Due 07-05-33

0.6%

Wells Fargo SA 01/34 5.499% Due 01-23-35

0.6%

Wells Fargo SA 01/29 5.198% Due 01-23-30

0.6%

JPMMT 2021-11 B1 3.024% Due 01-25-52

0.6%

US Treasury Note 1.625% Due 05-15-31

0.6%

CBRE Services CC 01/31 2.500% Due 04-01-31

0.5%

CHASE 2024-1 B1 6.725% Due 01-25-55

0.5%

Marriott Intl CC 07/33 2.750% Due 10-15-33

0.5%

Howmet Aerospace CC 11/28 3.000% Due 01-15-29

0.5%

CRVNA 2021-P1 D 1.820% Due 12-10-27

0.5%

NRG Energy CC 12/32 144A 7.000% Due 03-15-33

0.5%

ZF North America CC 03/28 144A 6.875% Due 04-14-28

0.5%

Ally Financial 4.700% Due 08-15-69

0.5%

CPS 2022-C E 9.080% Due 04-15-30

0.5%

Imperial Brands CC 06/27 144A 6.125% Due 07-27-27

0.5%

Delta SkyMiles Loan 9.063% Due 10-20-27

0.5%

FHMS K-1517 A2 1.716% Due 07-25-35

0.5%

M/I Homes CC 08/29 3.950% Due 02-15-30

0.5%

JPMMT 2022-3 B1 3.106% Due 08-25-52

0.5%

Fortrea Holdings Loan B 9.079% Due 07-01-30

0.5%

AerCap Ireland CC 07/33 3.400% Due 10-29-33

0.5%

Liberty Broadband Pfd 7.000% Due 01-15-69

0.5%

SRFC 2023-2A D 9.720% Due 04-20-40

0.5%

Embecta CC 02/27 144A 5.000% Due 02-15-30

0.4%

Capital One 1XC 10/30 7.624% Due 10-30-31

0.4%

Quicken Loans CC 03/26 144A 3.875% Due 03-01-31

0.4%

HPEFS 2024-1A D 5.820% Due 11-20-31

0.4%

Apache CC 01/49 5.350% Due 07-01-49

0.4%

Noble Finance II CC 04/26 144A 8.000% Due 04-15-30

0.4%

LPL Holdings CC 10/28 6.750% Due 11-17-28

0.3%

Citigroup CC 11/28 7.625% Due 02-15-72

0.3%

CPS 2023-C E 9.660% Due 02-18-31

0.3%

JPMMT 2022-8 B2 4.672% Due 01-25-53

0.3%

SEMT 2021-9 B2 2.860% Due 01-25-52

0.3%

AerCap Ireland CC 05/28 5.750% Due 06-06-28

0.3%

FORDO 2022-D C 6.460% Due 05-15-30

0.3%

CCG 2023-2 C 6.450% Due 04-14-32

0.3%

HPEFS 2023-2A D 6.970% Due 07-21-31

0.3%

Daimler Truck 144A 5.400% Due 09-20-28

0.3%

CARMX 2023-2 D 6.550% Due 10-15-29

0.3%

CARMX 2023-3 D 6.440% Due 12-16-30

0.3%

CVS Health CC 11/32 5.250% Due 02-21-33

0.3%

Amer Sports CC02/27 144A 6.750% Due 02-16-31

0.3%

GALC 2022-1 B 5.740% Due 07-16-29

0.3%

SDART 2024-1 C 5.450% Due 03-15-30

0.3%

GALC 2022-1 C 5.980% Due 07-15-30

0.3%

SDART 2022-5 C 4.740% Due 10-16-28

0.3%

CARMX 2022-2 D 4.750% Due 10-16-28

0.3%

US Treasury Note 4.125% Due 08-15-53

0.3%

SRFC 2022-1A C 3.300% Due 10-20-38

0.3%

CARMX 2021-4 D 1.480% Due 03-15-28

0.3%

Envista Holdings 144A 1.750% Due 08-15-28

0.3%

Howard Hughes CC 02/26 144A 4.375% Due 02-01-31

0.3%

US Treasury Note 3.375% Due 08-15-42

0.3%

Rocket Mortgage CC 10/27 144A 4.000% Due 10-15-33

0.3%

Owens & Minor Loan B 9.179% Due 03-29-29

0.3%

Stanley Black & Decker CC 12/29 2.300% Due 03-15-30

0.3%

GXO Logistics CC 04/31 2.650% Due 07-15-31

0.3%

JPMMT 2020-5 B1 3.572% Due 12-25-50

0.3%

JPMMT 2021-13 B1 3.140% Due 04-25-52

0.2%

US Treasury Note 2.000% Due 11-15-41

0.2%

US Treasury Note 2.000% Due 08-15-51

0.2%

SRFC 2022-2A D 9.220% Due 06-20-40

0.2%

CRVNA 2023-P4 D 7.370% Due 10-10-30

0.2%

Willis Tower Watson CC 03/54 5.900% Due 03-05-54

0.2%

AAR Escrow Issuer CC 03/26 144A 6.750% Due 03-15-29

0.2%

CBRE Services CC 03/29 5.500% Due 04-01-29

0.2%

Viterra Finance CC 01/32 144A 5.250% Due 04-21-32

0.2%

Fortrea Holdings CB 07/26 7.500% Due 07-01-30

0.1%

Boeing CC 11/30 3.625% Due 02-01-31

0.1%

CRVNA 2023-P4 N 8.050% Due 10-10-30

0.0%

Total % in Top 10 Holdings 23.1%

Total # of Holdings 142

Assets Under Mgmt. $153.95M

Note: 0.0% holdings are less than 0.1% of Net Assets.

Portfolio holdings are subject to change and are not intended as recommendations of individual stocks. Individual security weights may not add to the displayed total due to rounding.

Portfolio holdings are subject to change and are not intended as recommendations of individual stocks. Individual security weights may not add to the displayed total due to rounding. The most recently quarterly holdings file, which contains all investments, can be found in the latest fund report.

Credit Rating

As of 03/31/2024

Rating

Percent of Fixed Income

AAA

2.4%

34.3%

7.8%

BBB

25.7%

16.1%

4.7%

Not Rated

9.0%

Credit quality ratings on underlying securities of the Fund are based on the methodology used by Bloomberg for constructing its indices (“Bloomberg methodology”). This rating looks to Moody’s, Standard & Poor’s, and Fitch. When all 3 agencies provide a rating, the middle rating is used. If only two agencies rate a security, the lowest rating is used. If only one agency rates a security, that rating is used. Ratings are measured on a scale that ranges from AAA (highest) to D (lowest).

Maturity

As of 03/31/2024

Maturity

Percent of Fixed Income

0 - 1 Year

0.0%

1 - 3 Years

0.6%

3 - 5 Years

11.4%

5 - 7 Years

25.4%

7 - 10 Years

19.1%

10 + Years

43.5%

PRIVATE WEALTH MANAGEMENT

Objective

Current income and total return

Account Minimums

Portfolio Managers

Commentary

Performance Returns

Portfolio Characteristics

Top 10 Holdings

Top 10 Issuers

Fixed Income Sector Breakdowns

Asset Allocations

Credit Rating

Maturity

Documents

Oakmark Funds

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