Portfolio Manager Bill Nygren appeared on “Barron’s Roundtable” to talk about recent stock picks and what the market is focusing on right now that it shouldn’t be.
Average Annual Total Returns (as of 09/30/2019)
|Fund||3 Month||1 Year||3 Year||5 Year||10 Year||Inception|
|S&P 500 Total Return Index||1.70%||4.25%||13.39%||10.84%||13.24%||9.76%|
Gross Expense Ratio (as of 09/30/2018): 0.89%
Net Expense Ratio (as of 09/30/2018): 0.85%
Fund Inception: 08/05/1991
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 net expense ratio reflects a contractual advisory fee waiver agreement through January 27, 2020.
The holdings mentioned comprise the following percentages of the Funds total net assets as of 09/30/2019:
|Security Title||Oakmark Fund|
|Alphabet Cl C||3.8%|
|Bank of America||3.3%|
|Comcast Cl A||2.6%|
|Facebook Cl A||2.2%|
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 S&P 500 Total Return Index is a float-adjusted, capitalization-weighted index of 500 U.S. large-capitalization stocks representing all major industries. It is a widely recognized index of broad, U.S. equity market performance. Returns reflect the reinvestment of dividends. This index is unmanaged and investors cannot invest directly in this index.
Dividend Yield is the annual rate of return of an investment paid in dividends or interest, expressed as a percentage. A snapshot of a fund’s interest and dividend income, yield is expressed as a percentage of a fund’s net asset value, is based on income earned over a certain time period and is annualized, or projected, for the coming year.
The Oakmark 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.
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.