Oakmark Fund's semi-annual shareholder report to March 2025
- From
- Harris Associates
- Filed
- 29 May 2025
- Sector
- US large-cap equities
Read the original at sec.gov (opens in a new tab)
This is the view as filed on 29 May 2025, not a statement of what the author thinks today.
About this letter
Harris Associates Investment Trust filed this semi-annual report on form N-CSRS on 29 May 2025, covering the Oakmark funds advised by Harris Associates for the half-year to 31 March 2025. One document carries separate summaries for eight funds and their share classes. This record concerns the Oakmark Fund over the six months from 1 October 2024, the first half of its fiscal year.
The Oakmark Fund summary is a short regulatory report, not a letter. For the Investor Class it gives the half-year cost of a hypothetical $10,000 investment, $45 or an annualised 0.89%, and a paragraph naming Financials and Consumer Staples as the strongest sectors and Health Care and Industrials as the weakest. Returns over one, five and ten years sit beside the S&P 500 and Russell 1000 Value, followed by key statistics showing 55 holdings and 26% turnover, the top ten holdings, led by American International Group, and a sector allocation. Unaudited financial statements follow.
Why read it
A quick read on a large fund's positioning in a falling half-year: about 37% in financials, about 1% in technology, and a gain while the index fell.
What to notice
- 1
The Investor Class returned 3.20% for the six months to 31 March 2025, while the S&P 500 fell 1.97%.
Continue the investment thesis
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Companies discussed
- Wells Fargo
- Fiserv
- Salesforce
- IQVIA Holdings
- Celanese
- Fortune Brands Innovations
- American International Group
- Phillips 66
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
- Longleaf Partners Fund's semi-annual report to June 2026 · Southeastern Asset Management
- Wells Fargo CEO letter to shareholders, 2025 · Wells Fargo
- Gregory Goff's letter to Phillips 66 shareholders, filed by Elliott · Elliott Investment Management