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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
|---|---|---|---|---|---|---|---|
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"The Oakmark Global Fund returned 4.10% in Q3 2025, underperforming the benchmark. The managers actively deployed capital into deeply discounted, high-quality European and U.S. software and infrastructure assets."
During the third quarter of 2025, the Oakmark Global Fund underperformed its benchmark, the MSCI World Index, returning 4.10% compared to 7.27%. Key positive contributors were Kering, Alibaba Group, and Alphabet, while Molina Healthcare was the largest detractor. Geographically, the fund maintained significant allocations in the U.S. (51.5%) and Europe ex-U.K. (37.5%). The managers initiated new positions in Dassault Systèmes, Hexagon, Salesforce, and Targa Resources, while fully exiting Amazon.com, Centene, and St. James's Place.
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Algorithmic conviction, macroeconomic posture, and risk appetite signals extracted from this quarterly letter with qualitative explanations.
Market Conviction
High-conviction positioning: The Oakmark Global Fund returned 4.10% in Q3 2025, underperforming the benchmark. The managers actively deployed capital into deeply discounted, high-quality European and U.S. soft...
Growth Outlook
Market outlook remains moderate conviction: The Oakmark Global Fund returned 4.10% in Q3 2025, underperforming the benchmark. The managers actively deployed capital into deeply discounted, high-quality European and U.S. soft...
Risk Appetite
Risk appetite posture is above average conviction: The Oakmark Global Fund returned 4.10% in Q3 2025, underperforming the benchmark. The managers actively deployed capital into deeply discounted, high-quality European and U.S. soft...
Capital Deployment
Manager actively deployed capital into high-conviction opportunities. The Oakmark Global Fund returned 4.10% in Q3 2025, underperforming the benchmark. The managers actively deployed capital into deeply discounted, high-quality European and U.S. soft...
Forward Guidance
Forward guidance signal: The Oakmark Global Fund returned 4.10% in Q3 2025, underperforming the benchmark. The managers actively deployed capital into deeply discounted, high-quality European and U.S. soft...
Language Signal
Tone analysis indicates above average conviction language: The Oakmark Global Fund returned 4.10% in Q3 2025, underperforming the benchmark. The managers actively deployed capital into deeply discounted, high-quality European and U.S. soft...
Perceived Risk
Perceived risk level is evaluated as moderate conviction. The Oakmark Global Fund returned 4.10% in Q3 2025, underperforming the benchmark. The managers actively deployed capital into deeply discounted, high-quality European and U.S. soft...
Opportunity Density
Opportunity density index indicates above average conviction actionable entry points. The Oakmark Global Fund returned 4.10% in Q3 2025, underperforming the benchmark. The managers actively deployed capital into deeply discounted, high-quality European and U.S. soft...
Time Horizon
Investment time horizon reflects a high conviction orientation. The Oakmark Global Fund returned 4.10% in Q3 2025, underperforming the benchmark. The managers actively deployed capital into deeply discounted, high-quality European and U.S. soft...
