News

David Herro on CNBC’s “Closing Bell” (08.24.21)

August 24, 2021

Portfolio Manager David Herro appeared on CNBC’s “Closing Bell” to talk about opportunities in international equities.

Average Annual Returns as of 06/30/2021:

Fund3 Month1 Year3 Year5 Year10 YearInception
OAKIX4.29%54.91%7.10%12.15%7.11%9.56%
MSCI World ex U.S. Index5.65%33.60%8.57%10.36%5.70%6.37%

Gross Expense Ratio: 1.06%
Net Expense Ratio: 1.04%
Fund Inception: 09/30/1992

Expense ratios are based on estimated amounts for the current fiscal year; actual expenses may vary.
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, 2022.

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. 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. To obtain the most recent month-end performance data, view it here.

The holdings mentioned comprise the following percentages of total net assets as of 06/30/21:

SecurityOakmark International Fund
Alibaba Group0.9%
Alibaba Group ADR0.9%
Allianz3.4%
Bayer3.8%
BMW3.7%
BNP Paribas3.6%
Continental3.2%
Credit Suisse Group3.2%
Credit Suisse Series A0.2%
Credit Suisse Series B 144A0.1%
Daimler3.6%
DiDi Global0%
Glencore3.4%
Intesa Sanpaolo4.0%
JD.com0%
Lloyds Banking Group4.2%

Portfolio holdings are not intended as recommendations of individual stocks and are subject to change.

Access the full list of holdings for the Oakmark International Fund as of the most recent quarter-end.

The MSCI World ex U.S. Index (Net) is a free float-adjusted, market capitalization-weighted index that is designed to measure international developed market equity performance, excluding the U.S. 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.

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.

Investing in value stocks presents the risk that value stocks ay fall out of favor with investors and underperform growth stocks during given periods.

The information, data, analyses, and opinions presented herein (including current investment themes, the portfolio managers’ research and investment process, and portfolio characteristics) are for informational purposes only and represent the investments and views of the portfolio managers and Harris Associates L.P. as of the date written and are subject to change and may change based on market and other conditions and without notice. This content is not a recommendation of or an offer to buy or sell a security and is not warranted to be correct, complete or accurate.

Certain comments 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 L.P. based on their experience and perception of historical trends, current conditions, expected future developments, and other factors they believe are relevant. Actual future results are subject to a number of investment and other risks and may prove to be different from expectations. Readers are cautioned not to place undue reliance on the forward-looking statements.