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Address And Details

P.O.Box 219558 , Kansas City, MO 64121
Fund Manager Michael Manelli
Manager Tenure 5 Years 6 Months

Strategy And Objective

Oakmark International Fund seeks long-term capital appreciation. The Fund invests primarily in a diversified portfolio of common stocks of non-U.S. companies. In determining whether an issuer is a U.S. or non-U.S. company, the Fund considers various factors including, its country of domicile, the primary stock exchange on which it trades, the location from which the majority of its revenue comes, and its reporting currency. The Fund may invest in non-U.S. markets throughout the world, including emerging markets. The Fund considers emerging markets to be markets located in countries classified as emerging or frontier markets by MSCI, and are generally located in the Asia Pacific region, Eastern Europe, the Middle East, Central and South America, and Africa. Ordinarily, the Fund will invest in the securities of at least five countries outside of the United States. There are no geographic limits on the Funds non-U.S. investments. The Fund may invest in securities of large-,mid-,and small-capitalization companies.The Fund uses a value investment philosophy in selecting equity securities. This value investment philosophy is based upon the belief that, over time, a companys stock price converges with the Advisers estimate of the companys intrinsic value. By intrinsic value,the Adviser means its estimate of the price a knowledgeable buyer would pay to acquire the entire business. The Adviser believes that investing in securities priced significantly below what it believes is a companys intrinsic value presents the best opportunity to achieve the Funds investment objective. A company trading below its estimated intrinsic value is sometimes referred to as trading at a discount. The Adviser uses this value investment philosophy to identify companies that have discounted stock prices compared to what the Adviser believes are the companies intrinsic values. In assessing such companies, the Adviser looks for the following characteristics, although the companies selected may not have all of these attributes: (1) free cash flows and intelligent investment of excess cash;(2) earnings that are growing and are reasonably predictable; and (3) high level of company management ownership. Buy businesses that are trading at a significant discount to the Advisers estimate of the companys intrinsic value. At the time the Adviser buys a company, the Adviser wants the companys stock to be inexpensive relative to what it believes the entire business is worth. 2.Invest with companies expected to grow shareholder value over time. Value investors can sometimes fall into the trap of buying a stock that is inexpensive for a reason because the company just does not grow. The Adviser looks for good quality, growing businesses with positive free cash flow and intelligent investment of cash.3.Invest with management teams that think and act as owners. The Adviser seeks out companies with management teams that understand the dynamics of per share value growth and are focused on achieving such growth. Stock ownership and incentives that align managements interests with those of shareholders are key components of this analysis. In making its investment decisions, the Adviser uses a bottom-up approach focused on individual companies, rather than focusing on specific economic factors or specific industries. To facilitate its selection of investments that meet the criteria described above, the Adviser uses independent, in-house research to analyze each company.As part of this selection process, the Advisers analysts typically visit companies and conduct other research on the companies and their industries. Once the Adviser identifies a stock that it believes is selling at a significant discount to the Advisers estimated intrinsic value and that the company has one or more of the additional qualities mentioned above, the Adviser may consider buying that stock for the Fund. The Adviser usually sells a stock when the price approaches its estimated intrinsic value. This means the Adviser sets specific buy and sell targets for each stock the Fund holds. The Adviser monitors each portfolio holding and adjusts these price targets as warranted to reflect changes in a companys fundamentals. The Adviser believes that holding a relatively small number of stocks allows its best ideas to have a meaningful impact on the Funds performance. Therefore, the Funds portfolio typically holds thirty to sixty stocks rather than hundreds, and as a result, a higher percentage of the Funds total assets may at times be invested in a particular region, sector or industry.

Net Asset Value

as of 5:50 PM ET 05/19/2022

Performance

  • 1 Week
  • +3.93%
  • 1 Month
  • -3.84%
  • 3 Months
  • -14.95%
  • 1 Yr Return
  • -18.80%
  • 5 Yr Return
  • -9.10%

Equity Sector Breakdown

Finance 13.45%
IndustrialCyclical 11.06%
ConsumerDurables 10.55%
Health 7.63%
NonDurables 7.29%
RetailTrade 6.99%
Technology 6.25%
Services 5.84%
Energy n/a
Utilities n/a

Asset Allocation

Asset Type % Of Allocation
Stocks 95.88%
ForeignStocks 81.94%
Preferred 1.42%
Cash 0.00%
Bonds 0.00%
Convertible 0.00%
Other 0.00%
ForeignBonds 0.00%
ForeignHedged 0.00%
Total Net Assets 10.07 B

Risk Measures

Criteria 3 Years 5 Years 10 Years
Alpha -12.06 -11.80 n/a
Beta 1.28 1.21 n/a
R Squared 0.68 0.65 n/a
Std Deviation 29.17 24.55 n/a
Sharpe Ratio 0.19 0.14 n/a

Purchase Information

as of 6:14 PM ET 05/18/2022
Minimum Initial $1000000
Minimum Additional $0
Minimum Initial IRA $0

Performance

Timeframe Average Annual Current Performance Monthly As Of 04/30/2022 Average Annual Current Performance Quarterly As Of 03/31/2022 Avg Annual Current Performance Monthly As Of 04/30/2022 Avg Annual Current Performance Quarterly As Of 03/31/2022
1 Year
  • -16.22%
  • -8.44%
-16.22% -8.44%
3 Year
  • +1.69%
  • +6.20%
+1.69% +6.20%
10 Year
  • n/a
  • n/a
n/a n/a
Life Of Fund
  • +4.45%
  • +5.75%
+4.45% +5.75%

Top 10 Holdings

Symbol Company Name % Of Assets
BAYRY BAYER AG 3.73%
LLOY.L LLOYDS BANKING GROUP PLC 3.66%
BNPQY BNP PARIBAS SA ADR 3.46%
ALVG.D ALLIANZ AG 3.35%
ISNPY INTESA SANPAOLO SPA 3.21%
CSGN:SW CREDIT SUISSE GROUP AG 3.20%
BMWYY BAYERISCHE MOTOREN WERKE AG 3.12%
GLEN.L GLENCORE PLC 2.87%
CTTAY CONTINENTAL AG 2.78%
CNHI CNH INDUSTRIAL NV 2.59%

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