Oakmark
Oakmark Global Fund
Global Large-cap
Sep 2025 → Sep 2026
Our archive holds 5 letters from this strategy, behind 11 investment theses and positions in 19 companies. Every quote below is copied verbatim from the letter it came from.
5 letters in 2 years · follow all of Oakmark for every strategy.
Performance
as of Sep 30, 2026 · net of fees · USD · Institutional Class | OANGX
- YTD+3.7%index +11.8%
- 1Y+9.3%index +15.2%
- 3Y · /yr+11.7%index +21.4%
- 5Y · /yr+5.7%index +11.9%
- 10Y · /yr+9.1%index +12.8%
- Inception · /yr+9.4%index +7.1%
Index: MSCI World Index
| YTD | 1Y | 3Yper year | 5Yper year | 10Yper year | Since inceptionper year | |
|---|---|---|---|---|---|---|
| Oakmark Global Fund | +3.7% | +9.3% | +11.7% | +5.7% | +9.1% | +9.4% |
| MSCI World Index | +11.8% | +15.2% | +21.4% | +11.9% | +12.8% | +7.1% |
Disclaimer
These figures are copied from the manager’s latest letter, as of Sep 30, 2026. They were extracted automatically, have not been verified by HF Best Ideas and may contain errors. They cover a single share class, in the currency and fee basis stated above; other share classes and your own returns will differ. This is not investment advice, nor an offer to buy or sell any fund. Past performance does not predict future returns.
Read full disclosures →What it bought and sold
We were pleased to initiate a position at what we view as an attractive entry point relative to our estimate of intrinsic value.
Final sales • Akzo Nobel • Charter Communications Cl A • Roche Holding • Waters
Economic uncertainty and cyclical forces have weighed on sentiment for the industry, presenting the opportunity to invest in a quality business with a management team that is taking advantage of their underpriced stock through share buybacks.
Final sales • Akzo Nobel • Charter Communications Cl A • Roche Holding • Waters
Despite this strong outlook, we believe that the stock has underperformed recently due to stalling organic growth under previous leadership, creating an attractive entry point for us to invest in a company poised for growth that is trading at a significant discount to our estimate of intrinsic value.
Final sales • Akzo Nobel • Charter Communications Cl A • Roche Holding • Waters
This provided the rare opportunity to purchase shares in LVMH at a discounted valuation to its peers and the company's own trading history.
Final sales • Akzo Nobel • Charter Communications Cl A • Roche Holding • Waters
Also held
Its investment theses
- Sugi HoldingsSep 2026Sugi Holdings is a Japanese drugstore chain benefiting from healthcare demand, consolidation, founder-led execution, and technology-driven efficiency gains.
- AstraZenecaJun 2026AstraZeneca is a large pharmaceutical company with a strong pipeline, innovative culture, and attractive valuation.
- Cooper CompaniesJun 2026Cooper Companies is a contact lens and women’s health device company with recurring revenue, market share gains, and an attractive valuation.
- LVMH Moët Hennessy Louis VuittonJun 2026LVMH is the world’s largest luxury goods company with a differentiated scarcity model, strong brand portfolio, and attractive valuation.
- Owens CorningJun 2026Owens Corning is a building products company with a dominant roofing franchise, pricing power, and buyback-supported capital allocation.
- SymriseJun 2026Symrise is a leading flavors and fragrances company with sticky customer relationships, improving profitability, and an attractive valuation.
- Compass GroupMar 2026Compass Group is a scale leader in contract foodservice with resilient recurring revenues and an attractive entry point after multiple compression.
- Hamamatsu PhotonicsMar 2026Hamamatsu Photonics is a dominant photon technology supplier with sticky customer relationships trading at a discount due to cyclical weakness.
- GartnerDec 2025Gartner is a leading IT research provider with strong brand, high FCF conversion, and reacceleration potential amid overstated AI-related disruption concerns.
- Mondelēz InternationalDec 2025Mondelēz International is a global snacking leader with strong brands, pricing power, and margin upside as commodity inflation eases, acquired at a discounted valuation.