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The S&P 500 Index staged a comeback during the second quarter after falling by 20 percentage points during the first three months of the year. The rebound was driven by increased optimism regarding the pace and shape of the economic recovery as shelter-in-place restrictions eased throughout many parts of the country and most businesses were allowed to reopen in some capacity. The Oakmark Fund performed well during this period on both an absolute and relative basis. For the quarter, the Fund appreciated by 23%, outperforming the S&P 500's return of 21%. We remained active during