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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q4 | Jan 8, 2026 | Oakmark International Fund | - | - | OAKG, OAKI | ETFs, Europe, international, Japan, Korea, Quality, value | The portfolio has shifted toward higher quality businesses with better profitability, lower leverage, and less volatile earnings. Quality stocks underperformed significantly in 2025, creating attractive entry points for value investors. The manager maintains price discipline while seeking quality companies trading at discounts to intrinsic value. Harris Oakmark maintains its value investing approach, requiring significant discounts to intrinsic value estimates. The firm seeks quality businesses but only at attractive entry prices, protecting against downside risk while capturing excess returns when correct. Japan shows increasing capital allocation discipline with activist funds growing ten-fold and private equity transactions up four times over the past decade. However, management teams still lag Western standards in value creation focus, with most having rote medium-term plans without proper benchmarking. Korea has been a fast follower in shareholder rights enhancements, with government legislation and most companies now having value-up plans. The KOSPI Index gained 79% in 2025, though the market still trades at less than 11x forward earnings, suggesting the Korean discount remains. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| No pitches found. | |||||||||
| 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. | ||||||||