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home / news releases / ZGN - Oakmark International Small Cap Fund Q1 2025 Commentary


ZGN - Oakmark International Small Cap Fund Q1 2025 Commentary

2025-04-11 21:45:00 ET

Summary

  • The Fund’s Investor Share Class returned 8.24% in Q1 2025, outperforming the MSCI World ex USA Small Cap Index's 3.40% return.
  • ISS was the top contributor due to strong earnings and a significant buyback program, while Travis Perkins was the top detractor due to CEO departure.
  • New purchases include Ermenegildo Zegna, Gerresheimer AG, and IONOS Group, each presenting unique growth opportunities and attractive valuations.
  • Exited positions in Sulzer, DS Smith, Auction Technology, and SoftwareOne due to intrinsic value realization and merger concerns.

First-quarter highlights

Top contributors

Top detractors

New purchases

  • Ermenegildo Zegna ( ZGN )
  • Gerresheimer ( GRRMF )
  • IONOS Group

Final sales

For further details see:

Oakmark International Small Cap Fund Q1 2025 Commentary

Stock Information

Company Name: Ermenegildo Zegna N.V.
Stock Symbol: ZGN
Market: NYSE
Website: zegnagroup.com

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