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BABAF - Oakmark Global Select Fund Q1 2025 Commentary
Alibaba Group Holding Ltd
2025-04-11 12:30:00 ET
Summary
The Fund’s Investor Share Class returned 8.54% in Q1 2025, outperforming the MSCI World Index's -1.79%, driven by financials and consumer discretionary sectors.
Lloyds Banking Group was the top contributor, benefiting from strong net-interest income, robust future guidance, and a significant share buyback program.
Alphabet was the top detractor, with a slight miss in Cloud revenue despite strong search revenue growth and promising AI advancements.
New purchases include Molina Healthcare and Sysco Corporation, both acquired at discounts due to temporary pressures and long-term growth potential.