David Herro on CNBC’s “Closing Bell” (04.23.19)

April 23, 2019

Portfolio Manager David Herro discusses where he is finding value, particularly in European equities, on CNBC’s “Closing Bell.”

 

 

The specific securities identified and described in this report do not represent all the securities purchased, sold, or recommended to advisory clients. There is no assurance that any securities discussed herein will remain in an account’s portfolio at the time one receives this report or that securities sold have not been repurchased. It should not be assumed that any of the securities, transactions, or holdings discussed herein were or will prove to be profitable.

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.

The holdings mentioned comprise the following percentages of the Oakmark International Fund’s total net assets as of 03/31/2019: 

SECURITY Oakmark International Fund
Alphabet Class A  0%
Amazon 0%
BNP Paribas 4.2%
CNH Industrial  3.0%
Credit Suisse Group  3.5%
Daimler 3.7%
Facebook  0%
Intesa Sanpaolo  3.4%
Lloyds Banking Group 2.9%
Netflix  0%

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

View the full list of Oakmark International Fund holdings as of the most recent quarter-end here.

Oakmark International Geographic Distributions Percent of Net Assets as of 03/31/2019:

Europe 75.1%
United Kingdom 20.2%
Germany 16.1%
Switzerland 11.2%
France 11.0%
Sweden 6.5%
Netherlands 14.4
Italy 3.4%
Ireland 2.3%
Asia 11.9%
Japan 5.0%
South Korea 2.8%
Indonesia 1.3%
Taiwan 1.2%
China 1.1%
India 0.5%
North America 2.8%
Canada 1.6%
United States 1.2%
Africa 2.1%
South Africa 2.1%
Australasia 2.0%
Australia 2.0%
Latin America 0.9%
Mexico 0.9%
Emerging Markets 9.9%

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

The Dow Jones Industrial Average is a price-weighted measure of 30 U.S. blue-chip companies. The index covers all industries except transportation and utilities. This index is unmanaged and investors cannot invest directly in this index.

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 NASDAQ Composite Index is a broad-based market-capitalization weighted index of all common type stocks on the NASDAQ Stock Market, including common stocks, American depositary receipts, ordinary shares, shares of beneficial interest or limited partnership interests, and tracking stocks. The index includes all NASDAQ listed stocks that are not derivatives, preferred shares, funds, exchange-traded funds (ETFs) or debentures.  This index is unmanaged and investors cannot invest directly in this index.

The Russell 2000® Index measures the performance of the small-cap segment of the U.S. equity universe. The Russell 2000® Index is a subset of the Russell 3000® Index and includes approximately 2000 of the smallest securities based on a combination of their market cap and current index membership. This index is unmanaged and investors cannot invest directly in this index.

The Oakmark International 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 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.

Products

Separate Accounts

Custom-managed accounts for individuals, families, foundations, endowments, pension plans and mutual funds

Commingled Vehicles

Investments available only to accredited investors as defined by the Securities Act of 1933 or ERISA-qualified retirement plans and certain other government plans

Sub-advisory Services

Customized portfolio management with simplified administration for financial advisors

The Oakmark Funds

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

Contact Us to Learn More

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.

 

top