AMZN - Oakmark Fund: First Calendar Quarter 2024 Commentary

2024-04-09 09:40:00 ET

Summary

• We are value investors. In constructing portfolios for our clients, we seek out companies that we believe are trading in the market at significant discounts to their underlying value. These businesses must offer significant profit potential and be run by managers who think and act as owners.
• We believe in the importance of intensive, fundamental research. Our research process is based on a disciplined quantitative and qualitative screening process.
• The Oakmark Fund returned 10.27% during the first quarter, fractionally underperforming the S&P 500 Index’s return of 10.56%.
• We initiated three new holdings and eliminated five others during the quarter.

The Oakmark Fund ( OAKMX ) (“the Fund”) returned 10.27% during the first quarter, fractionally underperforming the S&P 500 Index’s return of 10.56%. Since its inception in August 1991, the Fund has returned an average of 12.96% per year, outperforming the S&P 500 Index’s return of 10.51% over the same period....

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