Bill Nygren in "Barron’s"

December 13, 2019

Portfolio Manager Bill Nygren was interviewed by Barron’s about his investing career and how his definition of value can lead to some unusual holdings for a value fund. 

Read the article here.

 

Average Annual Total Returns (as of 09/30/2019)

Fund 3 Month 1 Year 3 Year 5 Year 10 Year Inception
OAKMX -2.06% -5.68% 9.30% 7.27% 12.08% 12.17%
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

Fund 3 Month 1 Year 3 Year 5 Year 10 Year Inception
OAKLX -3.42% -10.34% 3.18% 2.74% 10.19% 11.17%
S&P 500 Total Return Index 1.70% 4.25% 13.39% 10.84% 13.24% 8.53%

Gross Expense Ratio (as of 09/30/2018): 1.04%
Net Expense Ratio (as of 09/30/2018): 0.97%
Fund Inception:  11/01/1996

The net expense ratios reflect a contractual advisory fee waiver agreement through January 27, 2020.

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 holdings mentioned above comprise the following percentages of the funds' total net assets as of 09/30/2019:

SECURITY Oakmark Fund Oakmark Select Fund
Alphabet Cl C 3.8% 10.7%
Apple 2.0% 0%
AT&T 0% 0%
Bank of America 3.3% 5.0%
Citigroup 3.6% 7.3%
General Motors 2.2% 0%
Intel 1.9% 0%
Liberty Media 0% 0%
Netflix 2.7% 3.5%

Portfolio holdings are subject to change without notice and are not intended as recommendations of individual stocks.

Click here to access the full list of holdings for the Oakmark Fund as of the most recent quarter-end.
Click here to access the full list of holdings for the Oakmark Select Fund as of the most recent quarter-end.

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.

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.

Because the Oakmark Select Fund is non-diversified, the performance of each holding will have a greater impact on the Fund’s total return, and may make the Fund’s returns more volatile than a more diversified fund.

Oakmark Select Fund: The stocks of medium-sized companies tend to be more volatile than those of large companies and have underperformed the stocks of small and large companies during some periods.

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

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A value-oriented mutual fund family offering U.S., balanced, global and international funds

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

Before investing in any Oakmark Fund, you should carefully consider the Fund's investment objectives, risks, management fees and other expenses. This and other important information is contained in a Fund's prospectus and summary prospectus. Please read the prospectus and summary prospectus carefully before investing. For more information, please call 1-800-OAKMARK (625-6275). Harris Associates Securities L.P., Distributor.

Past performance is no guarantee of future results.

This site is intended for residents of the U.S. only. The information on the website does not constitute an offer for products or services, or a solicitation of an offer to any person outside of the United States who is prohibited from receiving such information under the laws applicable to their place of citizenship, domicile or residence.

 

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