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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Jul 22, 2025 | Harris Associates Concentrated Strategy | 3.9% | 3.7% | CRM, GOOGL, IQV, KDP, MOH, WBD | AI, Beverages, Concentration, fundamentals, healthcare, Media, technology, value | AI leadership is driving upside across portfolios, with companies like Alphabet benefiting from robust demand for AI workloads in Cloud growth acceleration. The technology is creating engagement and revenue benefits in search experiences. | CRM MOH KDP IQV GOOGL WBD IQV COP GOOG COF SCHW |
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| 2025 Q2 | Jun 30, 2025 | Oakmark Select Fund | 4.2% | - | ABNB, CNC, COF, COP, CRL, CRM, FCNCA, GOOGL, ICLR, IQV, KDP, PAYC, SCHW | financials, healthcare, Opportunistic, technology, value, volatility | Alphabet continues substantial AI investments across business units with potential payoff remaining underappreciated by the market. The company is improving margins while making these investments, suggesting efficient capital allocation in AI development. | CRM ICLR CRL IQV GOOGL |
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| 2025 Q2 | Jun 30, 2025 | Oakmark Global Fund | 6.0% | - | 3626.T, ADS.DE, AHT.L, AKZA.AS, ALV.DE, BAYN.DE, BDX, BMW.DE, BNP.PA, BUD, COP, DSV.CO, FI, IQV, KDP, LBRDK, LLOY.L, MOH | financials, global, healthcare, industrials, Logistics, Trade Policy, value | President Trump's Liberation Day announcement led to significant market volatility with companies perceived as more impacted by tariffs falling meaningfully while others held up better. The fund used this volatility to trim positions that performed well and buy companies where the discount to intrinsic value widened significantly. | MOH KDP BNP.PA BMW.DE AHT.L ADS.DE BDX DSV.CO |
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| 2025 Q1 | Mar 31, 2025 | Cullen Enhanced Equity Income Fund | 5.8% | 5.8% | AAPL, AMZN, BCE, BMY, CVX, DOC, DOW, GOOGL, KDP, META, MO, PM, PNC, RIO, TFC, TRV, TSLA, UPS, VICI, VZ | AI, dividends, growth, income, tariffs, value, volatility | The strategy is positioned for a potential secular shift from Growth to Value stocks, with Value trading at a 94% discount to Growth versus the historical average of 57%. Value defensive sectors like Healthcare and Consumer Staples are trading at historically low valuations, presenting compelling opportunities. | PNC KDP |
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| 2024 Q4 | Dec 31, 2024 | Oakmark Fund- International Small Cap | 2.0% | 16.0% | ABNB, CE, CG, CNC, CRM, DIS, EBAY, ELV, GEHC, GM, GS, HLT, IQV, KDP, MO, PHM, TFC, WFC | Banking, Buybacks, financials, healthcare, large cap, Quality, technology, value | The fund focuses on investing in high-quality businesses at attractive prices despite broad market valuations being above historic averages. The wide spread in valuation multiples provides opportunities for superior future returns with a margin of safety. | KDP GEHC ELV CG ABNB CNC WFC |
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| 2024 Q4 | Dec 31, 2024 | Oakmark Select Fund | 6.0% | 14.2% | ABNB, CNC, COP, CRM, EFX, FCNCA, FI, IQV, KDP, PAYC, PSX, WFC | energy, financials, healthcare, large cap, Quality, technology, value | The fund focuses on investing in high-quality businesses at attractive prices with wide spreads in valuation multiples providing opportunities. They believe this approach provides both margin of safety and potential for superior future returns despite broad market valuations being above historic averages. | KDP EFX ABNB IQV PAYC |
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| 2025 Q3 | Oct 28, 2025 | Harris Associates Concentrated Strategy | 2.4% | 6.2% | CRM, GOOGL, IQV, KDP, MOH, WBD | Beverages, concentrated, healthcare, large cap, Media, technology, value | AI leadership is driving upside across portfolios, with companies like Alphabet benefiting from robust demand for AI workloads in Cloud growth acceleration. The technology is creating engagement and revenue benefits in search experiences. | CRM MOH KDP IQV GOOGL WBD CRM MOH KDP IQV GOOGL WBD |
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| 2025 Q3 | Oct 20, 2025 | RS Large Cap Val Strategy | 4.5% | 9.9% | ABBV, C, CI, CPAY, CRM, GOOGL, KDP, LKQ, TEVA, VLO | Fed, large cap, rates, Refiners, ROIC, small cap, tariffs, value | The team continues to believe that actively managed, value-oriented approaches should be well positioned going forward. They focus on companies with improving ROIC trading at discounts to intrinsic value. Small-cap value stocks showed impressive performance with a 12.6% return in Q3, representing an area where they see intriguing potential and attractive risk-reward tradeoff. | LKQ VLO LKQ VLO |
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| 2025 Q3 | Oct 10, 2025 | Oakmark Fund- International Small Cap | 3.2% | 8.9% | BLK, C, CHTR, CNC, GOOGL, KDP, KVUE, TRGP, UNP, WBD | energy, financials, healthcare, Railroads, technology, value | The fund continues to find attractive opportunities to invest in high-quality, undervalued businesses across various industries. They purchased Union Pacific at a meaningful discount to intrinsic value and Targa Resources at a discount to peers based on normalized earnings power. | UNP US TRGP US |
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| 2025 Q3 | Oct 10, 2025 | Oakmark Select Fund | 2.3% | 5.4% | CRM, GOOGL, IQV, KDP, MOH, WBD | Beverages, Media, mid cap, Quality, undervalued, value | Warner Bros Discovery was the top contributor, surging 29% on acquisition speculation from Paramount-Skydance. The potential merger could generate meaningful cost synergies and create a scaled competitor with deep content library. The company shows solid recent earnings, renewed distribution deals and growing streaming momentum. | View | |
| 2024 Q3 | Sep 30, 2024 | Coho Relative Value Equity | 0.0% | 6.1% | AMZN, BAX, CVS, DG, KDP, KO, MCHP, NVDA, STZ, WMT | Beverages, defensives, earnings, healthcare, Quality, value | The manager emphasizes their value-oriented approach, noting that while they have underperformed growth-oriented indices, they expect a broadening of market participation as the earnings gap between the Magnificent 7 and other stocks narrows. They highlight their portfolio's stability and predictability compared to benchmarks. | View | |
| 2023 Q4 | May 3, 2024 | RIT Capital | 0.0% | 8.8% | BARN.SW, BLDR, CP, CPNG, GLNG, HELIOS.L, ICE, KDP, LEN, MA, TALEN, TMO, TPG, V, VTY.L | credit, global, healthcare, Japan, Multi-Asset, nuclear, private equity, value | The fund has exposure to AI through Scale AI, which specializes in labeling objects in photos and videos for self-driving cars, virtual/augmented reality, and U.S. Department of Defense applications. Scale AI has expanded its product offerings to assist in teaching computers how to generate content using AI. The company is positioned as a picks-and-shovels opportunity that can benefit from AI breakthroughs without committing to a specific foundational model. | TPG TALEN |
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| 2025 Q1 | Mar 31, 2025 | Oakmark Select Fund | -1.2% | -1.2% | CRM, DE, FI, GOOGL, HWM, ICE, IQV, KDP, LAD, MOH, PHM | financials, healthcare, industrials, large cap, technology, US, value | Intercontinental Exchange reported solid fourth-quarter results with 16% growth in energy futures business. After paying down debt from mortgage acquisitions, management resumed large share repurchases in Q1 2025, which the fund views as attractive capital allocation. | MOH |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 24, 2026 | Seeking Alpha | Seeking Alpha | Keurig Dr Pepper Inc. | Beverages | Non-Alcoholic Beverages | Bull | NASDAQ Stock Market | beverage industry, coffee prices, Cost synergies, JDE Peet's acquisition, Keurig Dr. Pepper, market share, NASDAQ, organic growth, refreshment beverages, Undervalued Stock | View Pitch |
| Apr 13, 2026 | Fund Letters | Oakmark Global Fund | Keurig Dr Pepper Inc. | Consumer Staples | Beverages | Bull | NASDAQ | Beverages, brand portfolio, distribution network, Household Penetration, market share, North America, Single-serve Coffee, Soft Drinks | View Pitch |
| Apr 13, 2026 | Fund Letters | Harris Associates Concentrated Strategy | Keurig Dr Pepper Inc | Consumer Staples | Soft Drinks | Bull | NASDAQ | Beverages, Coffee, deleveraging, M&A, Soft Drinks, spin-off, Sum-of-the-Parts, value unlock | View Pitch |
| Apr 13, 2026 | Fund Letters | Cullen Enhanced Equity Income Fund | Keurig Dr Pepper | Consumer Staples | Soft Drinks | Bull | NASDAQ | Beverages, brand portfolio, Coffee, consumer staples, cost optimization, dividend, Energy drinks, growth | View Pitch |
| Apr 13, 2026 | Fund Letters | Oakmark Fund | Keurig Dr Pepper Inc. | Consumer Staples | Beverages | Bull | NASDAQ | Beverages, brand strength, Distribution Advantages, Flavored Soft Drinks, Household Penetration, market share, Single-serve Coffee, valuation discount | View Pitch |
| Apr 13, 2026 | Fund Letters | Oakmark Select Fund | Keurig Dr Pepper | Food, Beverage & Tobacco | Soft Drinks | Bull | NASDAQ | Beverage Company, Flavored Soft Drinks, Household Penetration, Installed base, market share gains, Single-serve Coffee, valuation discount | View Pitch |
| Nov 29, 2025 | Fund Letters | Tony Coniaris | Keurig Dr Pepper Inc. | Consumer Staples | Beverages | Bull | NASDAQ | Beverages, Coffee, deleveraging, restructuring, spin-off, synergy, valuation | View Pitch |
| Nov 28, 2025 | Fund Letters | Tony Coniaris | Keurig Dr Pepper Inc. | Consumer Staples | Beverages | Bull | NASDAQ | Beverages, Coffee, deleveraging, restructuring, spin-off, synergy, valuation | View Pitch |
| Manager Name | Fund Name | Fund AUM | Invested Value | Portfolio Weight | Shares Owned | Shares Bought / Sold During Quarter | % Bought / Sold During Quarter | % of Shares Outstanding Owned |
|---|---|---|---|---|---|---|---|---|
| No investor data available. | ||||||||