Oakmark
Oakmark International Fund
International Large-cap
Mar 2025 → Sep 2026
Our archive holds 6 letters from this strategy, behind 28 investment theses and positions in 31 companies. Every quote below is copied verbatim from the letter it came from.
6 letters in 2 years · follow all of Oakmark for every strategy.
Performance
as of Sep 30, 2026 · net of fees · USD · Institutional Class | OANIX
- YTD+1.8%index +10.2%
- 1Y+6.8%index +15.9%
- 3Y · /yr+12.0%index +18.9%
- 5Y · /yr+5.6%index +9.7%
- 10Y · /yr+7.0%index +9.3%
- Inception · /yr+8.8%index +6.8%
Index: MSCI World ex USA Index
| YTD | 1Y | 3Yper year | 5Yper year | 10Yper year | Since inceptionper year | |
|---|---|---|---|---|---|---|
| Oakmark International Fund | +1.8% | +6.8% | +12.0% | +5.6% | +7.0% | +8.8% |
| MSCI World ex USA Index | +10.2% | +15.9% | +18.9% | +9.7% | +9.3% | +6.8% |
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
creating an attractive risk-reward oppor- tunity.
creating an attractive risk-reward opportunity.
The securities mentioned above comprise the following per- centages of the Oakmark International Fund’s total net as- sets as of 9/30/2026: adidas 2.9%, Bank Mandiri 0%, Brambles 1.4%, DSV 2.8%, FinecoBank 1.0%, Fresenius 0%, Fujitsu 1.9%, Hexagon 2.5%, KONE Cl B 0.4%, LVMH 2.5%, MercadoLibre 0.2%, Prudential 0% and SAP 3.0%.
Kone presents an at- tractive risk-reward profile.
The securities mentioned above comprise the following per- centages of the Oakmark International Fund’s total net as- sets as of 9/30/2026: adidas 2.9%, Bank Mandiri 0%, Brambles 1.4%, DSV 2.8%, FinecoBank 1.0%, Fresenius 0%, Fujitsu 1.9%, Hexagon 2.5%, KONE Cl B 0.4%, LVMH 2.5%, MercadoLibre 0.2%, Prudential 0% and SAP 3.0%.
creating an opportunity to establish a position at what we view as a meaningful discount to intrinsic value.
The securities mentioned above comprise the following per- centages of the Oakmark International Fund’s total net as- sets as of 9/30/2026: adidas 2.9%, Bank Mandiri 0%, Brambles 1.4%, DSV 2.8%, FinecoBank 1.0%, Fresenius 0%, Fujitsu 1.9%, Hexagon 2.5%, KONE Cl B 0.4%, LVMH 2.5%, MercadoLibre 0.2%, Prudential 0% and SAP 3.0%.
Also held
Its investment theses
- DSVSep 2026DSV is a freight forwarding and logistics company whose DB Schenker acquisition should drive synergies and profitability improvement over time.
- BramblesSep 2026Brambles operates a global pallet pooling business with dominant market positions, scale advantages, and improving capital efficiency.
- FinecoBankSep 2026FinecoBank is a fintech bank with a scalable wealth management platform and multiple structural growth drivers.
- KONESep 2026KONE is a global elevator and escalator company with recurring service revenues, solid management, and acquisition-led upside potential.
- MercadoLibreSep 2026MercadoLibre is a leading Latin American e-commerce and fintech platform with a large long-term growth runway.
- Samsung ElectronicsJun 2026Samsung Electronics benefits from scale and process leadership in memory, especially HBM, with AI-driven demand improving fundamentals and pricing power.
- ASML HoldingJun 2026ASML Holding has a near-monopoly position in extreme ultraviolet lithography, and AI-driven demand is strengthening its cash flows and competitive outlook.
- Unicharm CorporationMar 2026Unicharm Corporation is a global personal and pet care leader with diversified profit drivers, where Asia headwinds are manageable and a multi-decade low valuation underprices resilient growth.
- SAP SEMar 2026SAP SE is a core enterprise software provider benefiting from cloud migration and durable workflows, led by capable management and mispriced due to overstated AI concerns.
- Coupang, Inc.Mar 2026Coupang, Inc. is South Korea's leading e-commerce platform with a vertically integrated logistics moat enabling share gains and margin expansion, now available at an attractive valuation post-cyber incident.