Oakmark
Oakmark International Fund
International Large-cap
Mar 2025 → Jun 2026
Our archive holds 5 letters from this strategy, behind 23 investment theses and positions in 22 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.
Also held
Its investment theses
- 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.
- London Stock Exchange Group plcMar 2026London Stock Exchange Group plc is a defensive, vertically integrated market infrastructure and data franchise with recurring revenues and margin/FCF tailwinds, undervalued amid overstated AI risks.
- Dassault Systemes SEMar 2026Dassault Systemes SE is a simulation-focused software leader with proprietary datasets and emerging AI capabilities, where transitory headwinds and depressed multiples create attractive risk/reward.
- IMCD NVDec 2025IMCD NV is a best-in-class specialty chemicals distributor with pricing power, resilient demand, and long-term M&A-driven growth potential after a cyclical downturn.
- SanofiDec 2025Sanofi is a global pharma company prioritizing innovation with a promising pipeline and long runway for growth despite market concerns and recent volatility.
- Unilever PLCDec 2025Unilever PLC is a global consumer goods company with iconic brands and an improved management team executing self-help to drive higher-margin, consistent growth from a discounted valuation.