PORTFOLIO MANAGERS
(Yr joined Harris | Oakmark)
M. Colin Hudson, CFA (2005) Adam D. Abbas (2018) Michael A. Nicolas, CFA (2013) Alex Fitch, CFA (2011)
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 might fluctuate. Returns for intervals lower than one 12 months aren’t annualized. Since inception returns for the indexes are calculated primarily based on the Investor Class inception date. See the prospectus for a comparability towards the Fund’s regulatory benchmark: S&P 500 Index. “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 11/1/1995-11/30/2016. 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 related, however doubtlessly increased returns as a consequence 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 11/1/1995-11/30/2016, 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 related, however doubtlessly increased returns as a consequence 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 consists of change in share costs and, in every case, consists of reinvestment of dividends and capital achieve distributions. The funding return and principal worth fluctuate 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 Fairness and Revenue Fund’s whole internet belongings as of 09/30/2025: Alphabet Cl A 2.8%, Centene 0%, Constitution Communications Cl A 0.7%, Keurig Dr Pepper 1.2%, Salesforce 1.1%, TE Connectivity 2.0% and Warner Bros Discovery 1.2%. Portfolio holdings are topic to alter with out discover and aren’t supposed as suggestions of particular person shares.
Entry the total listing of holdings for the Oakmark Fairness and Revenue Enjoyable d 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 characterize 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 primarily based on market and different circumstances with out discover.
This content material shouldn’t be a advice of or a suggestion to purchase or promote a safety and isn’t warranted to be appropriate, full or correct.
Sure feedback herein are primarily based 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. primarily based on their expertise and notion of historic tendencies, present circumstances, anticipated future developments, and different elements they imagine are related. Precise future outcomes are topic to quite a lot 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 60% S&P 500 / 40% Bloomberg U.S. Combination Bond Index is comprised of 60% weight given to the S&P 500 Index and 40% weight given to the Bloomberg U.S. Combination Bond Index and is rebalanced month-to-month. The S&P 500 Index is a float-adjusted, capitalization-weighted index of 500 U.S. large-capitalization shares representing all main industries. It’s a well known index of broad, U.S. fairness market efficiency. The Bloomberg U.S. Combination Bond Index is a broad-based benchmark that measures the funding
grade, U.S. dollar-denominated, fixed-rate taxable bond market. The index consists of Treasuries, government-related and company securities, mortgage-backed securities (company fixed-rate and hybrid ARM pass-throughs), assetbacked securities and business mortgage-backed securities (company and non-agency). These indexes are unmanaged and traders can’t make investments straight in them
The Oakmark Fairness and Revenue Fund invests in mediumand lower-quality debt securities which have increased yield potential however current better funding and credit score danger than higher-quality securities. These dangers might lead to better share value volatility. An financial downturn might severely disrupt the market in medium or decrease grade debt securities and adversely have an effect on the worth of excellent bonds and the flexibility of the issuers to repay principal and curiosity.
Worth shares might fall out of favor with traders and underperform development shares throughout given intervals.
The Oakmark Fairness and Revenue Fund’s portfolio tends to be invested in a comparatively small variety of shares. Consequently, the appreciation or depreciation of anybody safety held by the Fund may have a better impression on the Fund’s internet asset worth than it will if the Fund invested in a bigger variety of securities. Though that technique has the potential to generate enticing returns over time, it additionally will increase the Fund’s volatility.
The shares of medium-sized firms are typically extra risky than these of huge firms and have underperformed the shares of small and enormous firms throughout some intervals.
All data supplied is as of 09/30/2025 except in any other case specified.
Earlier than investing in any Oakmark Fund, it is best to fastidiously contemplate the Fund’s funding goals, dangers, administration charges and different bills. This and different necessary data is contained in a Fund’s prospectus and abstract prospectus. Please learn the prospectus and abstract prospectus fastidiously 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 function broker-dealer and the distributor of varied registered funding firms for which advisory companies are supplied by associates of Natixis Funding Managers, is a advertising agent for the Oakmark Funds.
Harris Associates Securities L.P., Distributor, Member FINRA.
