PORTFOLIO MANAGERS
(Yr joined Harris | Oakmark)
David G. Herro, CFA (1992) Eric Liu, CFA (2009) Tony Coniaris, CFA (1999) 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 Might 19, 2025; precise bills could range. Returns for durations lower than one yr should not 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 8/4/1999-11/30/2016. Efficiency previous to 11/30/2016 has not been adjusted to replicate the decrease bills of Advisor and Institutional Class shares which might have had comparable, however probably increased returns because 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 8/4/1999-11/30/2016, 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 replicate the decrease bills of R6 Class shares. Throughout this era, R6 Class shares would have had comparable, however probably increased returns because of decrease bills.
Previous efficiency is not any assure of future outcomes. The efficiency information quoted represents previous efficiency. Present efficiency could also be decrease or increased than the efficiency information quoted. Complete return contains change in share costs and, in every case, contains reinvestment of dividends and capital acquire distributions. The funding return and principal worth range in order that an investor’s shares, when redeemed, could also be price kind of than the unique price.
The securities talked about above comprise the next percentages of the Oakmark International Fund’s complete web property as of 09/30/2025: Alibaba Group 2.4%, Alphabet Cl A 2.1%, Amazon.com 0%, Centene 0%, Constitution Communications Cl A 1.5%, CNH Industrial 2.6%, Dassault Systemes 1.0%, Hexagon
1.8%, Kering 3.0%, Molina Healthcare 1.6%, Salesforce 1.0%, St. James’s Place 0% and Targa Sources 2.3%. Portfolio holdings are topic to alter with out discover and should not supposed as suggestions of particular person shares.
Entry the total listing of holdings for the Oakmark International Fund right here or go to www.oakmark.com.
The knowledge, information, analyses, and opinions introduced 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 aretopic to alter and will change based mostly on market and different circumstances with out discover.
This content material shouldn’t be a suggestion 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 replicate assumptions and analyses made by the portfolio managers and Harris Associates L.P. based mostly on their expertise and notion of historic traits, present circumstances, anticipated future developments, and different elements they consider are related. Precise future outcomes are topic to a variety of 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 web of withholding taxes. This index is unmanaged and buyers can not make investments instantly on this index.
The MSCI World Worth Index (NET) captures large- and midcap securities exhibiting total worth type traits throughout 23 Developed Markets. The worth funding type traits for index building are outlined utilizing three variables: ebook value-to-price, 12-month ahead earningsto-price, and dividend yield. The Complete Return Index (NET) contains reinvested dividends web of international withholding tax. This index is unmanaged and buyers can not make investments instantly on this index.
Once in a while, Harris could decide, based mostly on its evaluation of a specific multi-national issuer, {that a} nation classification completely different from MSCI greatest displays the issuer’s nation of funding danger. In these situations, stories with nation weights and
efficiency attribution will differ from stories 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 buyers and underperform development shares throughout given durations.
The Fund’s portfolio tends to be invested in a comparatively small variety of shares. Consequently, the appreciation or depreciation of anyone safety held by the Fund could have a larger impression on the Fund’s web 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 international securities presents dangers that in some methods could also be larger than U.S. investments. These dangers embody: foreign money fluctuation; completely different regulation, accounting requirements, buying and selling practices and ranges of accessible info; typically increased transaction prices; and political dangers.
All info supplied is as of 09/30/2025 except in any other case specified.
Earlier than investing in any Oakmark Fund, it is best to rigorously take into account the Fund’s funding targets, dangers, administration charges and different bills. This and different essential info is contained in a Fund’s prospectus and abstract prospectus. Please learn the prospectus and abstract prospectus rigorously earlier than investing. For extra info, 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 varied registered funding firms for which advisory providers 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.
