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

OAKGX

Fund

Oakmark Global

Inception Date

08/04/1999

Cusip

413838830

Share Class Total Net Assets

$1.1B

Daily Nav

$19.44

(03/27/2020)

Nav Change

1

Nav YTD %

33.81%

Objective

Long-term capital appreciation

Oakmark Global invests primarily in a diversified portfolio of common stocks of U.S. and non-U.S. companies. The fund’s all-cap mandate allows investment across the market-cap spectrum.

Portfolio Managers

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Oakmark Global

Clyde McGregor discusses the Oakmark Global Fund

Growth of a $10,000 Investment (Investor Share Class)

From 08/04/1999 to 12/31/2019

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 graph does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

The Fund’s portfolio tends 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 will have a greater impact on the Fund’s net asset value than it would if the Fund 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 MSCI World Index (Net) is a free float-adjusted, market capitalization-weighted index that is designed to measure the global equity market performance of developed markets. The index covers approximately 85% of the free float-adjusted market capitalization in each country. This benchmark calculates reinvested dividends net of withholding taxes. This index is unmanaged and investors cannot invest directly in this index.

Commentary

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Oakmark Global Fund: Fourth Quarter 2019

Many investors abhor volatility, but we believe that managing it is part of our job. Volatility goes in both...

Performance Returns

  • Returns % as of 02/29/2020
  • Returns % as of 12/31/2019
Gross Expense Ratio (as of 09/30/2019): 1.23%
Net Expense Ratio (as of 09/30/2019): 1.17%
Fund Inception: 08/04/1999

Returns for periods of less than one year are not annualized.

The net expense ratio reflects a contractual advisory fee waiver agreement through January 27, 2021.

Portfolio Characteristics

As of 12/31/2019

Median Market Cap

$31,730 M

Weighted Average Market Cap

$119,733 M

Current Price to Earnings Ratio

14.8

Projected Price to Earnings

12.2

Current Price to Book Ratio

1.7

Projected Price to Book

1.5

Current Price to Cash Flow

11.4

Projected Price to Cash Flow

9.9

Number of Holdings

44

Turnover Rate

19%

Dividend Yield

2.24%

Beta vs. Benchmark

1.085

Standard Deviation

18.07%

Annual Operating Expenses - Gross*

1.23%

Annual Operating Expenses - Net*

1.17%

*Annual Operating Expenses As of 09/30/2019

Equity Sector Breakdowns

As of 12/31/2019

Top 10 Equities and Equivalents

As of 12/31/2019

Total % in Top 10 Holdings 41.9%

Total # of Holdings 44

Assets Under Mgmt. $1.8B

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.

Country Allocations

As of 12/31/2019

Emerging Markets consists of: India, Mexico, South Africa, South Korea and Taiwan.

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