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Oakmark

Mar 2025 → Sep 2026 · Publishes quarterly · 11 funds

Our archive holds 48 letters from Oakmark, behind 99 investment theses and positions in 82 companies. Every quote below is copied verbatim from the letter it came from.

Writes about

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48
Letters
82
Companies
45
Moves
99
Theses

10 strategies

Oakmark publishes a letter per strategy. Each one has its own page with what it holds, what it bought and what it wrote.

Returns as reported in each strategy’s latest letter, extracted automatically and not verified by us; one share class, in its own currency. Not investment advice. Past performance does not predict future returns.

Also filed under Oakmark Funds.

What they bought and sold · 45 moves

  • AddedIQVIA Holdings
    September 2026
    “Top contributor IQVIA was a contributor during the quarter.”
    Read the letter
  • New positionLVMH
    September 2026
    “LVMH (Louis Vuitton Moët Hennessy) is the world's largest luxury goods company with a portfolio of 75 brands, including prestigious houses Louis Vuitton and Dior.”
    Read the letter
  • New positionMercadoLibre
    September 2026
    “creating an attractive risk-reward oppor- tunity.”
    Read the letter
  • New positionFinecoBank
    September 2026
    “creating an attractive risk-reward opportunity.”
    Read the letter
  • ExitedPhillips 66
    September 2026
    “Final sales • Phillips 66”
    Read the letter
  • New positionDO & CO
    September 2026
    “With free cash flow inflecting and a dividend initiation guided for the second half of the year, we initiated a position at a meaningful discount to intrinsic value.”
    Read the letter
  • ExitedPrudential
    September 2026

    Listed in Oakmark’s reported holdings.

    Read the letter
  • ExitedAlten
    September 2026
    “Final sales • Alten • DTS • Essentra”
    Read the letter
  • TrimmedWPP
    September 2026
    “Worldline and WPP are two other examples where continued fundamental deterioration and additional research ultimately reduced our conviction enough to sell.”
    Read the letter
  • ExitedConocoPhillips
    September 2026
    “Final sales • BMW • ConocoPhillips”
    Read the letter
  • New positionKONE
    September 2026
    “Kone presents an at- tractive risk-reward profile.”
    Read the letter
  • TrimmedTarga Resources
    September 2026
    “Oakmark Fund currently owns two energy stocks, ConocoPhillips (COP) and Targa Resources (TRGP), which together total less than 6% of the portfolio.”
    Read the letter
  • ExitedCharles River Labs
    September 2026

    Listed in Oakmark’s reported holdings.

    Read the letter
  • ExitedComcast
    September 2026

    Listed in Oakmark’s reported holdings.

    Read the letter
  • New positionRocket Companies
    September 2026
    “Rocket Companies is a leading U.S. mortgage origi- nator and servicer with a technology-driven plat- form spanning direct-to-consumer lending, partner channel mortgages, and adjacent businesses such as Rocket Money, Redfin, and personal loans.”
    Read the letter
  • ExitedDTS
    September 2026
    “Final sales • Alten • DTS • Essentra”
    Read the letter
  • ExitedNetflix
    September 2026
    “the Oakmark Bond Fund and Oakmark Equity and Income Fund invested in Netflix bonds, although neither holds them today.”
    Read the letter
  • New positionWillis Towers Watson
    September 2026
    “Willis Towers Watson (WTW) is a leading insurance broker and HR services firm.”
    Read the letter
  • ExitedOpenText
    September 2026
    “so we exited the position.”
    Read the letter
  • ExitedEssentra
    September 2026
    “Final sales • Alten • DTS • Essentra”
    Read the letter
  • ExitedFresenius
    September 2026

    Listed in Oakmark’s reported holdings.

    Read the letter
  • TrimmedConocoPhillips
    September 2026
    “Oakmark Fund currently owns two energy stocks, ConocoPhillips (COP) and Targa Resources (TRGP), which together total less than 6% of the portfolio.”
    Read the letter
  • New positionAmrize
    September 2026
    “Amrize is a leading producer of building materials and construction solutions, established following Holcim's spin-off of its North American operations in June '25.”
    Read the letter
  • ExitedBMW
    September 2026
    “Final sales • BMW • ConocoPhillips”
    Read the letter
  • ExitedNike
    September 2026

    Listed in Oakmark’s reported holdings.

    Read the letter
  • ExitedState Street
    September 2026

    Listed in Oakmark’s reported holdings.

    Read the letter
  • New positionMeta Platforms
    September 2026
    “New purchases Meta Platforms is a U.S.-headquartered technology company whose Family of Apps (including Face- book, Instagram, and WhatsApp) reaches 3.6 billion daily active users.”
    Read the letter
  • TrimmedWorldline
    September 2026
    “Worldline and WPP are two other examples where continued fundamental deterioration and additional research ultimately reduced our conviction enough to sell.”
    Read the letter
  • New positionBrambles
    September 2026
    “creating an opportunity to establish a position at what we view as a meaningful discount to intrinsic value.”
    Read the letter
  • New positionVerisure
    September 2026
    “With free cash flow inflecting and a dividend initiation guided for the second half of the year, we initiated a position at a meaningful discount to intrinsic value.”
    Read the letter

Showing the 30 most recent of 45 recorded moves.

Companies held · 82

Every company Oakmark has disclosed a position in across our archive, with the letter that last mentioned it.

Theses · 99

  • Meta Platforms
    September 2026

    Meta Platforms operates Family of Apps at massive scale and offers AI monetization optionality at a valuation discount to intrinsic value.

    Read the full thesis
  • Meta Platforms
    September 2026

    Meta Platforms operates Facebook, Instagram and WhatsApp, with exceptional core economics, AI monetization potential, and shares trading at a meaningful discount to intrinsic value.

    Read the full thesis
  • Bayer
    September 2026

    Bayer is a company the fund kept owning because underlying value and operational improvement potential remained attractive despite litigation and execution risks.

    Read the full thesis
  • OpenText
    September 2026

    OpenText is a Canadian enterprise software company whose apparent cheapness was outweighed by structural competitive challenges and margin pressure risk.

    Read the full thesis
  • MercadoLibre
    September 2026

    MercadoLibre is a leading Latin American e-commerce and fintech platform with a large long-term growth runway.

    Read the full thesis
  • Rocket Companies
    September 2026

    Rocket Companies is a technology-driven mortgage and lending platform with scale advantages, a low-cost model, market share gains, and underappreciated earnings power.

    Read the full thesis
  • Sugi Holdings
    September 2026

    Sugi Holdings is a Japanese drugstore chain benefiting from healthcare demand, consolidation, founder-led execution, and technology-driven efficiency gains.

    Read the full thesis
  • DSV
    September 2026

    DSV is a freight forwarding and logistics company whose DB Schenker acquisition should drive synergies and profitability improvement over time.

    Read the full thesis
  • Brambles
    September 2026

    Brambles operates a global pallet pooling business with dominant market positions, scale advantages, and improving capital efficiency.

    Read the full thesis
  • FinecoBank
    September 2026

    FinecoBank is a fintech bank with a scalable wealth management platform and multiple structural growth drivers.

    Read the full thesis
  • Rocket Companies
    September 2026

    Rocket Companies is a mortgage originator and servicer with scale, a low-cost model, market-share gains, and underappreciated earnings power in a recovery.

    Read the full thesis
  • LVMH Moët Hennessy Louis Vuitton
    September 2026

    LVMH is the world's largest luxury goods company, supported by diversification, scarcity-driven pricing power and discounted valuation.

    Read the full thesis

Showing the 48 most recent of 99 theses. Browse them by company to see the rest.

Letter archive · 48

2026

2025

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