Portfolio Manager Mike Nicolas talked about recent portfolio activity during a CNBC “Squawk on the Street” interview.
The holdings mentioned comprise the following percentages of total net assets as of 06/30/2023:
| Security | Oakmark Fund |
|---|---|
| Adobe | 0% |
| Alphabet Cl A | 3.5% |
| Baxter | 0.2% |
| Capital One Financial | 3.2% |
| Carlisle | 0.4% |
| CBRE Group Cl A | 2.2% |
| Celanese | 1.0% |
| Comcast Cl A | 2.3% |
| ConocoPhillips | 2.6% |
| EOG Resources | 2.2% |
| First Citizens Bcshs Cl A | 1.4% |
| General Motors | 2.4% |
| Intercontinental Exchange | 2.4% |
| JP Morgan | 0% |
| KKR | 2.8% |
| Netflix | 0% |
| SVB | 0% |
| Uber | 0% |
| Wells Fargo | 2.7% |
Portfolio holdings are not intended as recommendations of individual stocks and are subject to change. The Funds disclaim any obligation to advise shareholders of such changes. Information about portfolio holdings does not represent a recommendation or an endorsement to Fund shareholders or other members of the public to buy or sell any security contained in the Funds’ portfolios. Portfolio holdings are current to the date listed but are subject to change any time. There are no assurances that the securities will remain in the Funds’ portfolios after the date listed or that the securities that were previously sold may not be repurchased.
Access the full list of holdings for the Oakmark Fund here.
EPS refers to Earnings Per Share and is calculated by dividing total earnings by the number of shares outstanding.
Russell 1000® Growth Index is an unmanaged index that measures the performance of the large-cap growth segment of the U.S. equity universe. It includes those Russell 1000® companies with higher price-to-book ratios and higher forecasted growth values. This index is unmanaged and investors cannot invest directly in this index.
The Russell 1000® Value Index measures the performance of the large-cap value segment of the U.S. equity universe. It includes those Russell 1000® companies with lower price-to-book ratios and lower expected growth values. This index is unmanaged and investors cannot invest directly in this index.
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.
Investing in value stocks presents the risk that value stocks may 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.
