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)

International Small Cap

International Small Cap portfolios are composed of 40 to 70 attractive small-cap companies from our approved list of international stocks.

Strategy’s Best Use:

Investors seeking long-term appreciation through an allocation to small-cap international stocks.

Portfolio Construction:

Our bottom-up portfolio construction leads to the selection of approximately 40 to 70 attractive small-cap companies from our approved list of international stocks. The market capitalization focus is less than $7.5 billion at the time of initial purchase. We do not strive for specific country, sector, or industry exposure. Instead, these allocations are determined strictly through our stock selection process. 

Typically, they have no more than 30 percent in any country, 25 percent in any industry, and position sizes at the time of purchase are limited to a seven percent maximum. 

Foreign currency exposure may be hedged defensively in the International Small Cap Equity strategy for any currencies that we believe are significantly overvalued. Investment in emerging market securities is permitted only in countries that meet our legal standards.

A Value Approach at Its Core:

International Small Cap Equity portfolios are composed of securities that we believe trade at a significant discount to our estimate of intrinsic value, have intrinsic values that grow with time and have shareholder-oriented management teams. 

Learn more about the investment philosophy and process that guide all strategies at Harris Associates here.

What to Expect as a Client:

You can expect to receive the highest level of care from our experienced and responsive client services team regardless of the size of the portfolio you entrust with us. 

Portfolio Managers

View Our Team

Contact Us to Learn More

For questions please contact us or call 312-646-3600.

Commentary

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International Small Cap Strategy

International Small Cap Strategy - Major global markets finished lower for the first quarter as Russia’s invasion of Ukraine...

Growth of a $10,000 Investment

From 12/31/1998 to 03/31/2022

Performance Returns

  • Returns % as of 05/31/2022
  • Returns % as of 03/31/2022
Composite Inception: 11/01/1995

Returns for periods of less than one year are not annualized.

Portfolio Characteristics

As of 03/31/2022

Median Market Cap

$2,863 M

Weighted Average Market Cap

$4,248 M

Current Price to Earnings Ratio

10.2

Projected Price to Earnings

9.6

Current Price to Book Ratio

1.4

Projected Price to Book

1.4

Current Price to Cash Flow

9.3

Projected Price to Cash Flow

8.4

Number of Securities

59

Portfolio Turnover

45%

Dividend Yield

4.02%

Beta vs. Benchmark

1.188

Standard Deviation

20.18%

Active Share

97.02%

Equity Sector Breakdowns

As of 03/31/2022

Top 10 Equities and Equivalents

As of 03/31/2022

Total % in Top 10 Holdings 29.8%

Total # of Holdings 59

Portfolio holdings are subject to change and are not intended as recommendations of individual stocks. Individual security weights may not add to the displayed total due to rounding.

Country Allocations

As of 03/31/2022

Emerging Markets consists of: China, Indonesia, Mexico and South Korea.