Value investing redefined

The Oakmark family of mutual funds is an extension of Harris Associates’ value-focused approach to investing. For more about our selection of funds, visit Oakmark.com.

The Oakmark Funds

111 South Wacker Drive, Suite 4600
Chicago, Illinois 60606
1-800-OAKMARK (625-6275)

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There is a real disconnect between news flow on public companies and the value of the underlying businesses. The overwhelming majority of discussion is based on what may happen over the next year or so to create volatility in earnings, despite over 90% of intrinsic value depending on what happens after that. This provides opportunities for long-term, value-minded investors like us.

-Tony Coniaris, CFA, Partner, Co-Chairman

Fraud and Phishing Warning

The Federal Trade Commission has issued alerts about fraudulent activities carried out through various messaging platforms with scammers exploiting users’ trust. Both Harris Associates L.P. and the Oakmark Funds take these alerts very seriously and have internal procedures in place to protect you. However, it’s important for you to be aware and vigilant of the different scamming methods and strategies.

Scammers often pose as legitimate entities or persons to deceive unsuspecting victims into sharing their personal information or making payments for goods and services that do not exist. They may use sophisticated tactics, such as impersonating a known employee of Harris Associates L.P. or creating fake websites or social media profiles to deceive you.

PLEASE BE AWARE of a recent scam where someone or a group is impersonating Harris Associates L.P./Oakmark Funds Portfolio Manager David Herro. The impersonator is using his name to invite and lead a WhatsApp chat group focused on investing in cryptocurrency and other securities and the impersonator is asking chat members to invest.

TO BE CLEAR: Harris Associates L.P. and the Oakmark Funds do not invest in cryptocurrencies and neither entity utilizes social media messaging platforms to advertise, market or solicit investments in cryptocurrencies.

Please continue to be cautious about responding to unsolicited communications that appear to come from a Harris Associates L.P. address and/or number. Neither Harris Associates L.P. nor its employees solicit or conduct business related to Harris Associates L.P. or the Oakmark Funds over social media. While we do post media interviews, market insights and brand-related information on LinkedIn and X, formerly known as Twitter, we do not actively solicit business through any social media platform.

Furthermore, Harris Associates L.P. and the Oakmark Funds will NEVER communicate with you via WhatsApp, Telegram, Viber, Facebook Messager or any other messaging platforms. Harris Associates L.P. and the Oakmark Funds will only communicate with you by phone, mail or email using the contact information on record for your account and from an official Harris Associates L.P. or Oakmark address (@harrisassoc.com, @oakmark.com).

We urge you to exercise caution when receiving messages on WhatsApp or any other messaging platforms and be vigilant about suspicious requests. Here are some tips to help you stay safe:

1) Do not share your personal or financial information with anyone, especially if you do not know them.
2) Be cautious when receiving unsolicited messages from unknown contacts or numbers.
3) Do not click on links or download files from unverified sources.
4) Verify the authenticity of requests by contacting the sender directly through a verified contact or official website.
5) Be wary of offers that seem too good to be true and deals that require you to pay upfront.
6) Do not communicate or conduct business via messaging platforms. Attackers use non-email communication media to conduct fraud and neither Harris Associates L.P. nor the Oakmark Funds permit its employees or authorized representatives to send or receive work-related communications on such platforms.

Harris Associates L.P. has alerted the appropriate legal authorities about the scam. You are highly encouraged to self-report to the FBI at https://www.ic3.gov (after clicking the link or typing the url in your browser, select the box on the top right side of the webpage to “File a Complaint” (highlighted with a red box)). You may also reach out to the U.S. Securities and Exchange Commission, FINRA, and/or your local police.

For additional resources, please refer to the following FBI website that provides assistance for victims of financial crimes: https://www.fbi.gov/file-repository/financial_crime.pdf/view.