Oakmark Global Select Fund Q1 2025 Commentary

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.

First-quarter highlights

Top contributors

• Lloyds Banking Group ( LYG )
• Alibaba Group ( BABA )
• American International Group ( AIG )

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