Strategy Commentary

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U.S. Equity Strategy

June 2018

Volatility prevailed throughout the second quarter as investors digested the implications of newly imposed tariffs.

International Equity Strategy

June 2018

After a strong start to 2018, international equity markets then weakened throughout the first half of the year.

Concentrated Strategy

June 2018

Volatility prevailed throughout the second quarter as investors digested the implications of newly imposed tariffs.

Mid Cap Value Strategy

June 2018

Volatility prevailed throughout the second quarter as investors digested the implications of newly imposed tariffs.

Global All Cap Strategy

June 2018

After a strong start to 2018, international equity markets then weakened throughout the first half of the year.

Global Concentrated Strategy

June 2018

After a strong start to 2018, international equity markets then weakened throughout the first half of the year.

Global Strategy

June 2018

After a strong start to 2018, international equity markets then weakened throughout the first half of the year.

International Small Cap Strategy

June 2018

After a strong start to 2018, international equity markets then weakened throughout the first half of the year.

Japan Strategy

June 2018

After a strong start to 2018, international equity markets then weakened throughout the first half of the year.

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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.

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