WDAY - Harris Associates Global Concentrated Strategy Q1 2024 Commentary
2024-05-24 10:30:00 ET
Summary
- Harris Associates is an asset management firm that serves as the investment adviser to the Oakmark Funds. We seek to invest in businesses that are priced at substantial discounts to our estimate of intrinsic value.
- During the quarter, U.S. equity markets reached new highs and Japanese equities continued to rise, surpassing a record high from 34 years ago.
- The portfolio’s return was 3.14% (net) for the reporting period. This compares to the MSCI World Index that returned 8.88% for the same period.
- While we keep a watchful eye on the macroeconomic environment, we remain focused on our bottom-up, fundamental analysis at the company level when constructing portfolios.