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 changes in share price and, in each case, reinvestment of dividends and capital gains distributions. Investment return and principal value fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost.
The above-mentioned securities represent the following percentages of the total net assets of the Oakmark Global Fund as of 06/30/2024: Alphabet Cl A 3.6%, CNH Industrial 3.4%, Deere 1.0%, Envista Holdings 1.5%, Etsy 0.9%, IQVIA Holdings 2.8%, KKR 0%, Lloyds Banking Group 3.7% and St. James’s Place 2.4%. Portfolio holdings are subject to change without notice and do not constitute recommendations of individual stocks.
Access the full list of Oakmark Global Fund holdings at the end of the last quarter.
The information, data, analyses and opinions presented herein (including current investment themes, the portfolio managers’ research and investment process and portfolio characteristics) are provided for informational purposes only and represent the investments and views of the portfolio managers and Harris Associates LP as of the date of writing and are subject to change and may change based on market and other conditions without notice.
This content does not constitute a recommendation or an offer to buy or sell any security and is not guaranteed to be correct, complete or accurate.
Certain comments contained herein are based on current expectations and are considered “forward-looking statements.” These forward-looking statements reflect assumptions and analyses made by the portfolio managers and Harris Associates LP based on their experience and perception of historical trends, current conditions, expected future developments and other factors they believe to be relevant. Actual future results are subject to a number of investment and other risks and may differ from expectations. Readers are cautioned not to place undue reliance on forward-looking statements.
The price-to-earnings ratio (“PE”) compares a company’s current stock price to its earnings per share. It may also be referred to as a “price multiple” or “earnings multiple” and provides a general indication of how expensive or cheap a stock is. Investors should not base their investment decisions on a single characteristic attribute or data point.
The MSCI World Index (“net”) is a free float-adjusted, market capitalization-weighted index designed to measure the performance of global equity markets in developed markets. The index covers approximately 85% of each country’s free float-adjusted market capitalization. This benchmark calculates dividends reinvested net of withholding taxes. This index is unmanaged and investors cannot invest in it directly.
The MSCI All Country World Index (“net”) is a free float-adjusted, market capitalization-weighted index designed to measure the equity market performance of developed and emerging markets. The index includes large and mid-cap stocks and covers approximately 85% of the global equity market opportunity. This benchmark calculates dividends reinvested net of withholding taxes. This index is unmanaged and investors cannot invest in it directly.
There are times when Harris determines, based on its analysis of a particular multinational issuer, that a country classification other than MSCI’s best reflects the issuer’s investment country risk. In these cases, reports with country weightings and performance attribution will differ from reports using MSCI classifications. Harris uses its own country classifications in its reporting processes, and these classifications are reflected in the included materials.
The Fund’s portfolio is generally invested in a relatively small number of securities. Therefore, 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 if the Fund were to invest in a larger number of securities. While this strategy has the potential to generate attractive returns over time, it also increases the Fund’s volatility.
Investing in foreign securities involves risks that may be greater than investing in the United States. These risks include: currency fluctuations; differences in regulations, accounting standards, business practices and levels of available information; generally higher transaction costs; and political risks.
All information provided is as of 06/30/2024 unless otherwise stated.
Before investing in an Oakmark fund, you should carefully consider the fund’s investment objectives, risks, management fees and other expenses. This and other important information is contained in a fund’s prospectus and summary prospectus. Please read the prospectus and summary prospectus carefully before investing. For more information, please see Oakmark.com or call 1-800-OAKMARK (1-800625-6275).
Harris Associates Securities LP, Distributor, Member FINRA. Date of First Use: 11/07/2024
FCM-3899GX-10/24
