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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
|---|---|---|---|---|---|---|---|
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"The fund underperformed the MSCI World Index this quarter, returning 3.38%. Managers capitalized on cyclical market pullbacks to buy French tech pioneer Dassault Systèmes while liquidating Centene."
During Q3 2025, the Oakmark Global Select Fund (Investor Class) returned 3.38%, underperforming the MSCI World Index's return of 7.27%. Key performance contributors included Alibaba Group (buoyed by cloud and AI growth) and Prosus. Key detractors included Charter Communications, which suffered from weaker subscriber numbers despite strong ARPU. The fund initiated a new position in French software company Dassault Systèmes on price weakness and exited its position in Centene.
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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 fund underperformed the MSCI World Index this quarter, returning 3.38%. Managers capitalized on cyclical market pullbacks to buy French tech pioneer Dassault Systèmes while liq...
Growth Outlook
Market outlook remains above average conviction: The fund underperformed the MSCI World Index this quarter, returning 3.38%. Managers capitalized on cyclical market pullbacks to buy French tech pioneer Dassault Systèmes while liq...
Risk Appetite
Risk appetite posture is above average conviction: The fund underperformed the MSCI World Index this quarter, returning 3.38%. Managers capitalized on cyclical market pullbacks to buy French tech pioneer Dassault Systèmes while liq...
Capital Deployment
Manager actively deployed capital into high-conviction opportunities. The fund underperformed the MSCI World Index this quarter, returning 3.38%. Managers capitalized on cyclical market pullbacks to buy French tech pioneer Dassault Systèmes while liq...
Forward Guidance
Forward guidance signal: The fund underperformed the MSCI World Index this quarter, returning 3.38%. Managers capitalized on cyclical market pullbacks to buy French tech pioneer Dassault Systèmes while liq...
Language Signal
Tone analysis indicates above average conviction language: The fund underperformed the MSCI World Index this quarter, returning 3.38%. Managers capitalized on cyclical market pullbacks to buy French tech pioneer Dassault Systèmes while liq...
Perceived Risk
Perceived risk level is evaluated as moderate conviction. The fund underperformed the MSCI World Index this quarter, returning 3.38%. Managers capitalized on cyclical market pullbacks to buy French tech pioneer Dassault Systèmes while liq...
Opportunity Density
Opportunity density index indicates above average conviction actionable entry points. The fund underperformed the MSCI World Index this quarter, returning 3.38%. Managers capitalized on cyclical market pullbacks to buy French tech pioneer Dassault Systèmes while liq...
Time Horizon
Investment time horizon reflects a high conviction orientation. The fund underperformed the MSCI World Index this quarter, returning 3.38%. Managers capitalized on cyclical market pullbacks to buy French tech pioneer Dassault Systèmes while liq...
