Oakmark Fund's annual shareholder report for the year to September 2024
- From
- Harris Associates
- Filed
- 4 Dec 2024
- Sector
- US large-cap equities
Read the original at sec.gov (opens in a new tab)
This is the view as filed on 4 Dec 2024, not a statement of what the author thinks today.
About this letter
Harris Associates Investment Trust, the Chicago-based trust behind the Oakmark funds advised by Harris Associates, filed this annual certified shareholder report on form N-CSR on 4 December 2024. One filing covers eight funds, from the Oakmark Fund to the Oakmark Bond Fund, each with separate reports for its Investor, Advisor, Institutional and R6 share classes. This record concerns the Oakmark Fund for its fiscal year from 1 October 2023 to 30 September 2024.
The Oakmark Fund report is a short summary, not a letter. For the Investor Class it gives the cost of a hypothetical $10,000 investment, $102 or 0.89%, and a paragraph naming the strongest and weakest sectors, Financials and Industrials against Energy and Materials. A ten-year chart and table compare it with the S&P 500 and the Russell 1000 Value, followed by key statistics, the top ten holdings and a sector allocation. Combined financial statements for all eight funds come later.
Why read it
Shows how a large US equity fund can post a strong year and still trail the S&P 500, and how heavily it leans on financials.
What to notice
- 1
The Investor Class returned 28.39% for the year to 30 September 2024, behind the S&P 500 at 36.35% but ahead of the Russell 1000 Value at 27.76%.
Continue the investment thesis
See the 3 remaining takeaways on what this investor is arguing and why, and every analysis across the Letters & Theses library.
Checking what you can open…
Companies discussed
- KKR
- Capital One Financial
- CBRE Group
- APA
- Charter Communications
- ConocoPhillips
- Alphabet
- Fiserv
L3VLUP does not host this document. It belongs to Harris Associates and is a public SEC filing; the notes above are L3VLUP’s reading of it.
More from Harris Associates
The same argument, elsewhere
- Sequoia Fund's discussion of its 2025 performance · Ruane, Cunniff & Goldfarb
- Sequoia Fund's discussion of its 2024 performance · Ruane, Cunniff & Goldfarb
- G is for Google: the letter announcing Alphabet · Google (now Alphabet)
- Berkshire Hathaway's 2008 letter to shareholders · Berkshire Hathaway