Portfolio Managers
(Yr joined Harris | Oakmark)
David G. Herro, CFA (1992) Tony Coniaris, CFA (1999) Eric Liu, CFA (2009) M. Colin Hudson, CFA (2005) John A. Sitarz, CFA, CPA (2013)
Expense ratios are as of the Fund’s most up-to-date prospectus dated January 28, 2025, as amended and restated January 30, 2025, March 14, 2025 and Could 19, 2025; precise bills could differ. Returns for intervals lower than one 12 months will not be annualized. Since inception returns for the indexes are calculated based mostly on the Investor Class inception date. “Linked efficiency”: Advisor and Institutional Class shares commenced operations on 11/30/2016. The efficiency attributed to the these share courses previous to that date is that of the Investor Class shares from 10/2/2006-11/30/2016. Efficiency previous to 11/30/2016 has not been adjusted to mirror the decrease bills of Advisor and Institutional Class shares which might have had comparable, however doubtlessly greater returns as a result of decrease bills. R6 Class shares commenced operations on 12/15/2020. The efficiency attributed to the R6 Class shares previous to that date is that of the Investor Class shares from 10/2/2006-11/30/2016, after which the efficiency of the Institutional Class shares from 11/30/2016-12/15/2020. Efficiency previous to 12/15/2020 has not been adjusted to mirror the decrease bills of R6 Class shares. Throughout this era, R6 Class shares would have had comparable, however doubtlessly greater returns as a result of decrease bills.
Previous efficiency isn’t any assure of future outcomes. The efficiency knowledge quoted represents previous efficiency. Present efficiency could also be decrease or greater than the efficiency knowledge quoted. Complete return contains change in share costs and, in every case, contains reinvestment of dividends and capital achieve distributions. The funding return and principal worth differ in order that an investor’s shares, when redeemed, could also be value roughly than the unique price.
The securities talked about above comprise the next percentages of the Oakmark World Choose Fund’s whole internet property as of 09/30/2025: Alibaba Group 4.6%, Alphabet Cl A 4.3%, Centene 0%, Constitution Communications Cl A 3.0%, CNH Industrial 5.1%, Dassault Systemes 1.0%, Molina Healthcare 1.2% and Prosus 5.2%. Portfolio holdings are topic to alter with out discover and will not be meant as suggestions of particular person shares.
Entry the complete listing of holdings for the Oakmark World Choose Fund right here or go to www.oakmark.com.
The data, knowledge, analyses, and opinions offered herein (together with present funding themes, the portfolio managers’ analysis and funding course of, and portfolio traits) are for informational functions solely and signify the investments and views of the portfolio managers and Harris Associates L.P. as of the date written and are
topic to alter and will change based mostly on market and different circumstances with out discover.
This content material will not be a advice of or a suggestion to purchase or promote a safety and isn’t warranted to be right, full or correct.
Sure feedback herein are based mostly on present expectations and are thought-about “forward-looking statements.” These forward-looking statements mirror assumptions and analyses made by the portfolio managers and Harris Associates L.P. based mostly on their expertise and notion of historic developments, present circumstances, anticipated future developments, and different elements they consider are related. Precise future outcomes are topic to quite a few funding and different dangers and will show to be completely different from expectations. Readers are cautioned to not place undue reliance on the forwardlooking statements.
The MSCI World Index (NET) is a free float-adjusted, market capitalization-weighted index that’s designed to measure the worldwide fairness market efficiency of developed markets. The index covers roughly 85% of the free floatadjusted market capitalization in every nation. This benchmark calculates reinvested dividends internet of withholding taxes. This index is unmanaged and traders can’t make investments instantly on this index.
The MSCI World Worth Index (NET) captures large- and midcap securities exhibiting total worth model traitsthroughout 23 Developed Markets. The worth funding model traits for index building are outlined utilizing three variables: guide value-to-price, 12-month ahead earningsto-price, and dividend yield. The Complete Return Index (NET) contains reinvested dividends internet of overseas withholding tax. This index is unmanaged and traders can’t make investments instantly on this index.
Now and again, Harris could decide, based mostly on its evaluation of a selected multi-national issuer, {that a} nation classification completely different from MSCI greatest displays the issuer’s nation of funding threat. In these cases, reviews with nation weights and efficiency attribution will differ from reviews utilizing MSCI classifications. Harris makes use of its personal nation classifications in its reporting processes, and these classifications are mirrored within the included supplies.
Worth shares could fall out of favor with traders and underperform development shares throughout given intervals.
The Fund’s portfolio tends to be invested in a comparatively small variety of shares. Because of this, the appreciation or depreciation of anyone safety held by the Fund may have a higher influence on the Fund’s internet asset worth than it might if the Fund invested in a bigger variety of securities. Though that technique has the potential to generate engaging returns over time, it additionally will increase the Fund’s volatility.
Investing in overseas securities presents dangers that in some methods could also be higher than U.S. investments. These dangers embrace: forex fluctuation; completely different regulation, accounting requirements, buying and selling practices and ranges of obtainable data; typically greater transaction prices; and political dangers.
All data supplied is as of 09/30/2025 except in any other case specified.
Earlier than investing in any Oakmark Fund, you need to rigorously contemplate the Fund’s funding aims, dangers, administration charges and different bills. This and different essential data is contained in a Fund’s prospectus and abstract prospectus. Please learn the prospectus and abstract prospectus rigorously earlier than investing. For extra data, please go to Oakmark.com or name 1-800-OAKMARK (1-800- 625-6275).
Natixis Distribution, LLC (Member FINRA | SIPC), a restricted goal broker-dealer and the distributor of assorted registered funding corporations for which advisory companies are supplied by associates of Natixis Funding Managers, is a advertising and marketing agent for the Oakmark Funds.
Harris Associates Securities L.P., Distributor, Member FINRA.
