Harris Associates
Harris Oakmark Global All Cap Strategy
Global
Jun 2025 → Jun 2025
Our archive holds 1 letter from this strategy, behind 2 investment theses and positions in 12 companies. Every quote below is copied verbatim from the letter it came from.
1 letter in a year · follow all of Harris Associates for every strategy.
What it bought and sold
- ExitedTIS IncJun 2025
We eliminated the following position(s) during the period: • Allianz • Anheuser-Busch InBev • Fiserv • Lloyds Banking Group • TIS Inc
We eliminated the following position(s) during the period: • Allianz • Anheuser-Busch InBev • Fiserv • Lloyds Banking Group • TIS Inc
This created the opportunity to purchase shares in a well- managed company with strong underlying profitability and meaningful upside potential that should be a relative beneficiary in a falling rate environment.
We eliminated the following position(s) during the period: • Allianz • Anheuser-Busch InBev • Fiserv • Lloyds Banking Group • TIS Inc
We eliminated the following position(s) during the period: • Allianz
We eliminated the following position(s) during the period: • Allianz • Anheuser-Busch InBev • Fiserv • Lloyds Banking Group • TIS Inc
- New positionBMWJun 2025
Concerns over trade policy and both demand and competition in China presented the oppor- tunity to initiate a position in BMW, an iconic brand with the strong balance sheet, cash flow generation, and technological savvy necessary to potentially deliver strong long-term results for shareholders.
Also held
Its investment theses
- AdidasJun 2025Adidas is a revitalized global sportswear leader poised for growth and margin expansion, offering an attractive investment opportunity at a discount due to recent stock price declines.
- Ashtead GroupJun 2025Ashtead Group is a well-positioned international equipment rental company that is poised to gain market share in an under-penetrated North American market, supported by a strong management team and benefiting from recent tariff-induced investment reshoring opportunities.