WDAY - Harris Associates International Equity Strategy Q1 2024 Commentary
2024-05-24 04:00:00 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.
- The portfolio’s return was 0.20% (net) for the reporting period. This compares to the MSCI World ex USA Index that returned 5.59% for the same period.
- Top contributors during the quarter are Daimler, Intesa and Mercedes. Top detractors during the quarter are Bayer, Prudential and Continental.
- 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.