Harris Associates (Oakmark)

In Q2 2026, Harris Associates (Oakmark) held 155 US-listed stocks worth $75bn. Its biggest move was cutting Phillips 66 (81% fewer shares, now 0.4%), followed by cutting Charter Communications (98% fewer shares, now 0.0%). It started 9 new positions and sold out of 5. Its largest holding is Keurig Dr Pepper at 4.0%.

Source: SEC Form 13F for Q2 2026, filed 14 Aug 2026, and the funds’ Form N-PORT filings. How we use them

Latest 13F

Q2 2026

Filed 14 Aug 2026

Fund assets

$16bn

4 US-registered funds

Q3 2026 13F due

26 days

Expected Mon 16 Nov

What changed in Q2 2026

New positions

Booking Holdings0.4% of the portfolio
Cooper Companies0.1% of the portfolio
Birkenstock Holdingunder 0.1% of the portfolio
Advanced Micro Devicesunder 0.1% of the portfolio
Intelunder 0.1% of the portfolio

Added to

Sysco+48% shares, now 1.8%
Marsh & Mclennan Companies+68% shares, now 1.9%
Elevance Health+2.7% shares, now 2.5%
Equitable Holdings+33496% shares, now 0.6%
Capital One Financial+11% shares, now 3.1%

Trimmed

Phillips 66-81% shares, now 0.4%
Charter Communications-98% shares, now 0.0%
Warner Bros. Discovery-85% shares, now 0.2%
ConocoPhillips-13% shares, now 2.1%
Marathon Petroleum-92% shares, now 0.1%

Sold out

Flutter Entertainmentwas 0.1%
Sealed Airwas 0.1%
Grifolswas under 0.1%
Exxon Mobilwas under 0.1%
Nuveen Municipal Value Fundwas under 0.1%

Against Q1 2026, by number of shares and adjusted for splits. Up to five of each, largest first; the full list is below.

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82% of the $15bn of shares held in Harris Associates (Oakmark)’s 4 US-registered funds, by value, are not in its 13F. Those holdings are marked with a gold dot below.

US holdings from the 13F

Q2 2026, filed 14 Aug 2026 (filing): 9 new, 51 added to, 84 trimmed, 5 sold out. Select a row to see it over time. How this works

Changes compare share counts with Q1 2026, adjusted for stock splits. Share classes of the same company are combined. Values are at quarter-end prices.

13F holdings with change from the previous quarter

Keurig Dr PepperKDP	$3.0bn	92,854,297	4.0%$3.0bn	Trimmed -0.2%	3.3%
AlphabetGOOG	$2.9bn	8,202,305	3.9%$2.9bn	Trimmed -12%	3.6%
AirbnbABNB	$2.7bn	18,861,551	3.6%$2.7bn	Trimmed -1.6%	3.2%
SalesforceCRM	$2.5bn	16,151,269	3.4%$2.5bn	Added +8.3%	3.7%
IQVIA HoldingsIQV	$2.4bn	12,183,830	3.1%$2.4bn	Added 0.0%	2.8%
Capital One FinancialCOF	$2.3bn	11,492,010	3.1%$2.3bn	Added +11%	2.5%
Charles SchwabSCHW	$2.2bn	24,201,471	3.0%$2.2bn	Added +11%	2.7%
Intercontinental ExchangeICE	$2.2bn	18,050,700	3.0%$2.2bn	Added +11%	3.4%
Targa ResourcesTRGP	$2.1bn	7,937,530	2.8%$2.1bn	Trimmed -9.0%	2.9%
First Citizens BancsharesFCNCA	$1.9bn	919,347	2.5%$1.9bn	Trimmed -3.0%	2.4%
Elevance HealthELV	$1.9bn	4,924,511	2.5%$1.9bn	Added +2.7%	1.9%
Delta Air LinesDAL	$1.6bn	17,329,926	2.1%$1.6bn	Trimmed -3.7%	1.6%
ConocoPhillipsCOP	$1.6bn	15,178,673	2.1%$1.6bn	Trimmed -13%	3.1%
Merck & Co.MRK	$1.6bn	12,073,109	2.1%$1.6bn	Trimmed -2.4%	2.0%
Willis Towers WatsonWTW	$1.5bn	5,908,033	2.0%$1.5bn	Trimmed -1.8%	2.3%
American International GroupAIG	$1.5bn	20,357,272	2.0%$1.5bn	Trimmed -1.2%	2.1%
Marsh & Mclennan CompaniesMRSH	$1.4bn	8,687,496	1.9%$1.4bn	Added +68%	1.2%
CortevaCTVA	$1.4bn	16,333,110	1.8%$1.4bn	Trimmed -1.9%	1.9%
SyscoSYY	$1.4bn	16,292,380	1.8%$1.4bn	Added +48%	1.1%
Bank of AmericaBAC	$1.3bn	23,090,903	1.7%$1.3bn	Added +22%	1.2%
CitigroupC	$1.2bn	8,751,443	1.6%$1.2bn	Trimmed -5.6%	1.4%
Ally FinancialALLY	$1.2bn	26,105,434	1.6%$1.2bn	Trimmed -1.2%	1.4%
EquifaxEFX	$1.2bn	7,447,263	1.6%$1.2bn	Trimmed -1.1%	1.8%
Amazon.comAMZN	$1.1bn	4,653,406	1.5%$1.1bn	Trimmed -2.3%	1.3%
Zimmer Biomet HoldingsZBH	$1.1bn	12,738,025	1.4%$1.1bn	Trimmed -1.7%	1.6%
FiservFISV	$1.1bn	22,210,980	1.4%$1.1bn	Added +13%	1.5%
Union PacificUNP	$1.0bn	3,844,522	1.4%$1.0bn	Added +1.6%	1.2%
General MotorsGM	$1.0bn	13,198,809	1.4%$1.0bn	Trimmed -1.9%	1.3%
Reinsurance Group of AmericaRGA	$996m	4,684,424	1.3%$996m	Trimmed -3.4%	1.3%
GE HealthCare TechnologiesGEHC	$981m	15,329,664	1.3%$981m	Trimmed -1.7%	1.5%
Aercap HoldingsAER	$942m	6,460,145	1.3%$942m	Added +9.5%	1.1%
Global Payments OrdGPN	$937m	12,912,987	1.2%$937m	Added +8.9%	1.1%
Wells Fargo & CompanyWFC	$900m	10,892,476	1.2%$900m	Trimmed -0.8%	1.2%
CBRE GroupCBRE	$810m	6,013,890	1.1%$810m	Trimmed -6.4%	1.2%
State StreetSTT	$808m	4,765,306	1.1%$808m	Trimmed -22%	1.0%
NetflixNFLX	$786m	11,014,943	1.0%$786m	Added +12%	1.3%
Sunbelt Rentals HoldingsSUNB	$783m	10,461,105	1.0%$783m	Trimmed -10%	1.0%
CDWCDW	$780m	5,543,451	1.0%$780m	Added +3.0%	0.9%
IconICLR	$776m	4,468,146	1.0%$776m	Added +2.7%	0.6%
AmrizeAMRZ	$746m	13,990,945	1.0%$746m	Added +23%	0.8%
Carlyle GroupCG	$744m	17,661,625	1.0%$744m	Added +6.5%	1.1%
Corebridge FinancialCRBG	$720m	25,132,155	0.9%$720m	Added +0.7%	0.8%
CenteneCNC	$714m	11,124,640	0.9%$714m	Trimmed -21%	0.6%
MascoMAS	$677m	8,318,944	0.9%$677m	Trimmed -3.2%	0.7%
Roper TechnologiesROP	$668m	1,974,325	0.9%$668m	Added +14%	0.8%
CNH IndustrialCNH	$663m	59,068,990	0.9%$663m	Added +1.6%	0.8%
NasdaqNDAQ	$638m	8,092,686	0.8%$638m	Added +1.0%	0.9%
TE ConnectivityTEL	$615m	3,047,993	0.8%$615m	Added +8.2%	0.8%
NikeNKE	$591m	14,403,570	0.8%$591m	Trimmed -2.5%	1.0%
AdobeADBE	$580m	2,829,066	0.8%$580m	Added +23%	0.7%
Synchrony FinancialSYF	$566m	7,446,335	0.8%$566m	Added +60%	0.4%
Raymond James FinancialRJF	$562m	3,693,787	0.7%$562m	Added +7.8%	0.7%
Lithia MotorsLAD	$556m	1,915,329	0.7%$556m	Trimmed -2.1%	0.7%
Charles River Laboratories InternationalCRL	$508m	2,241,144	0.7%$508m	Added +4.1%	0.5%
Genuine PartsGPC	$431m	3,653,725	0.6%$431m	Trimmed -7.1%	0.6%
Constellation BrandsSTZ	$431m	3,097,056	0.6%$431m	Trimmed -4.2%	0.7%
Paycom SoftwarePAYC	$427m	3,397,446	0.6%$427m	Added +4.3%	0.5%
Fortune Brands InnovationsFBIN	$419m	7,629,819	0.6%$419m	Added +3.4%	0.4%
Equitable HoldingsEQH	$416m	9,489,037	0.6%$416m	Added +33496%	0.0%
GartnerIT	$369m	2,846,799	0.5%$369m	Trimmed -9.2%	0.7%
Becton Dickinson & CoBDX	$356m	2,350,963	0.5%$356m	Added +5.8%	0.5%
AccentureACN	$343m	2,757,314	0.5%$343m	Trimmed -4.7%	0.8%
Mondelez InternationalMDLZ	$319m	5,520,536	0.4%$319m	Trimmed -2.0%	0.4%
Phillips 66PSX	$297m	1,757,891	0.4%$297m	Trimmed -81%	2.2%
Booking HoldingsBKNG	$278m	1,557,503	0.4%$278m	New	–
CoupangCPNG	$248m	14,296,823	0.3%$248m	Added +43%	0.3%
VisaV	$244m	711,659	0.3%$244m	Trimmed -0.8%	0.3%
Molina HealthcareMOH	$219m	957,500	0.3%$219m	Trimmed -2.1%	0.2%
Deere & CoDE	$199m	313,034	0.3%$199m	Trimmed -40%	0.4%
Fomento Economico MexicanoFMX	$197m	1,541,584	0.3%$197m	Trimmed -31%	0.3%
ComcastCMCSA	$176m	7,173,464	0.2%$176m	Trimmed -73%	1.0%
Owens CorningOC	$174m	1,095,517	0.2%$174m	Added +20%	0.1%
BrunswickBC	$161m	1,913,396	0.2%$161m	Trimmed -14%	0.2%
HaleonHLN	$157m	16,833,252	0.2%$157m	Added +12%	0.2%
ABM IndustriesABM	$129m	2,912,307	0.2%$129m	Added +1.0%	0.1%
Warner Bros. DiscoveryWBD	$128m	4,803,194	0.2%$128m	Trimmed -85%	1.2%
Vail ResortsMTN	$104m	764,385	0.1%$104m	Added +2.5%	0.1%
OracleORCL	$95.4m	650,879	0.1%$95.4m	Trimmed -12%	0.1%
Liberty Broadband8L8C	$87.8m	2,639,942	0.1%$87.8m	Trimmed -34%	0.3%
Envista HoldingsNVST	$72.6m	2,756,781	0.1%$72.6m	Trimmed -15%	0.1%
Thor IndustriesTHO	$69.4m	923,940	0.1%$69.4m	Trimmed -4.0%	0.1%
American ExpressAXP	$68.8m	203,453	0.1%$68.8m	Trimmed -0.1%	0.1%
HCA HealthcareHCA	$60.1m	154,097	0.1%$60.1m	Trimmed -2.6%	0.1%
Marathon PetroleumMPC	$58.6m	229,011	0.1%$58.6m	Trimmed -92%	0.9%
Cooper CompaniesCOO	$55.0m	766,520	0.1%$55.0m	New	–
MastercardMA	$51.9m	100,993	0.1%$51.9m	Trimmed -15%	0.1%
Ryanair HoldingsRYAAY	$51.2m	790,544	0.1%$51.2m	Trimmed -6.6%	0.1%
Wendy’sWEN	$46.3m	5,587,137	0.1%$46.3m	Trimmed -5.8%	0.1%
Allison Transmission HoldingsALSN	$45.4m	402,762	0.1%$45.4m	Trimmed -24%	0.1%
Warner Music GroupWMG	$43.6m	1,611,030	0.1%$43.6m	Added 0.0%	0.1%
BlackrockBLK	$42.9m	44,575	0.1%$42.9m	Trimmed -18%	0.1%
AppleAAPL	$38.0m	131,305	0.1%$38.0m	Trimmed -0.2%	0.0%
CVS HealthCVS	$34.7m	335,817	0.1%$34.7m	Trimmed -32%	0.1%
Colliers International GroupCIGI	$33.2m	354,200	0.0%$33.2m	Added +13%	0.0%
EOG ResourcesEOG	$31.8m	244,809	0.0%$31.8m	Trimmed -94%	0.8%
Ermenegildo ZegnaZGN	$31.7m	2,435,700	0.0%$31.7m	Trimmed -16%	0.0%
KKR & Co.KKR	$31.6m	343,974	0.0%$31.6m	Trimmed -7.0%	0.1%
Hilton WorldwideHLT	$28.2m	85,299	0.0%$28.2m	Trimmed -11%	0.0%
Goldman Sachs GroupGS	$27.5m	27,218	0.0%$27.5m	Trimmed -5.0%	0.0%
MicrosoftMSFT	$25.6m	68,612	0.0%$25.6m	Added +915%	0.0%
AutolivALV	$24.9m	214,490	0.0%$24.9m	Trimmed -8.0%	0.0%
Cushman & WakefieldCWK	$24.9m	1,858,460	0.0%$24.9m	Trimmed -1.4%	0.0%
WorkdayWDAY	$23.6m	192,764	0.0%$23.6m	Added +1552%	0.0%
Crown HoldingsCCK	$21.3m	190,865	0.0%$21.3m	Trimmed -0.4%	0.0%
OpenlaneOPLN	$15.9m	386,223	0.0%$15.9m	Trimmed -32%	0.0%
Texas InstrumentsTXN	$13.8m	46,260	0.0%$13.8m	Trimmed -2.6%	0.0%
Charter CommunicationsCHTR	$13.8m	96,777	0.0%$13.8m	Trimmed -98%	1.1%
BorgwarnerBWA	$12.9m	193,743	0.0%$12.9m	Trimmed -13%	0.0%
Berkshire HathawayBRK.B	$12.6m	25,253	0.0%$12.6m	Trimmed -0.7%	0.0%
Birkenstock HoldingBIRK	$8.0m	185,100	0.0%$8.0m	New	–
WatersWAT	$6.9m	18,413	0.0%$6.9m	Trimmed -94%	0.1%
BNYBK	$6.1m	42,419	0.0%$6.1m	Trimmed -1.3%	0.0%
Meta PlatformsMETA	$2.6m	4,655	0.0%$2.6m	Added +4.3%	0.0%
DoverDOV	$2.5m	11,213	0.0%$2.5m	Trimmed -5.5%	0.0%
NVIDIANVDA	$2.5m	12,475	0.0%$2.5m	Added +0.1%	0.0%
JPMorgan ChaseJPM	$2.0m	6,215	0.0%$2.0m	Added +6.9%	0.0%
CaterpillarCAT	$2.0m	1,840	0.0%$2.0m	Unchanged	0.0%
Carlisle CompaniesCSL	$1.7m	4,612	0.0%$1.7m	Trimmed -8.4%	0.0%
Spdr S&P 500 Etf TrustSPY	$1.6m	2,148	0.0%$1.6m	Trimmed -72%	0.0%
LearLEA	$1.5m	11,425	0.0%$1.5m	Trimmed -4.2%	0.0%
Alibaba Group HoldingBABA	$1.5m	15,413	0.0%$1.5m	Added +15%	0.0%
Applied MaterialsAMAT	$1.4m	1,945	0.0%$1.4m	Trimmed -12%	0.0%
Vanguard Index FdsVOO	$1.3m	6,767	0.0%$1.3m	Added +107%	0.0%
Philip Morris InternationalPM	$1.1m	6,093	0.0%$1.1m	Added +20%	0.0%
Johnson Controls InternationalJCI	$1.1m	7,350	0.0%$1.1m	Unchanged	0.0%
Truist FinancialTFC	$933k	18,735	0.0%$933k	Trimmed -17%	0.0%
Moody'sMCO	$863k	1,905	0.0%$863k	Unchanged	0.0%
BroadcomAVGO	$672k	1,779	0.0%$672k	Trimmed -1.9%	0.0%
Herc HoldingsHRI	$644k	4,495	0.0%$644k	Unchanged	0.0%
AbbvieABBV	$609k	2,420	0.0%$609k	Trimmed -9.8%	0.0%
Eli Lilly & CoLLY	$517k	431	0.0%$517k	Trimmed -4.2%	0.0%
Advanced Micro DevicesAMD	$508k	875	0.0%$508k	New	–
Tenet HealthcareTHC	$449k	2,400	0.0%$449k	Unchanged	0.0%
BlackstoneBX	$441k	3,750	0.0%$441k	Unchanged	0.0%
DanaherDHR	$350k	1,838	0.0%$350k	Unchanged	0.0%
WalmartWMT	$335k	2,962	0.0%$335k	Added +42%	0.0%
Costco WholesaleCOST	$335k	358	0.0%$335k	Trimmed -1.1%	0.0%
Ishares TrSGOV	$317k	3,151	0.0%$317k	Trimmed -16%	0.0%
Parker-HannifinPH	$289k	295	0.0%$289k	Unchanged	0.0%
PepsicoPEP	$273k	2,015	0.0%$273k	Added +21%	0.0%
UnileverUL	$272k	4,516	0.0%$272k	Added +9.5%	0.0%
SAPSAP	$258k	1,673	0.0%$258k	Added +15%	0.0%
IntelINTC	$245k	1,757	0.0%$245k	New	–
OshkoshOSK	$242k	1,575	0.0%$242k	Unchanged	0.0%
IDEXX LaboratoriesIDXX	$240k	455	0.0%$240k	Trimmed -5.6%	0.0%
DiageoDEO	$233k	2,895	0.0%$233k	Trimmed -12%	0.0%
ChevronCVX	$224k	1,350	0.0%$224k	Unchanged	0.0%
Ishares TrEFA	$221k	1,002	0.0%$221k	Added +88%	0.0%
Procter & GamblePG	$219k	1,494	0.0%$219k	Unchanged	0.0%
Micron TechnologyMU	$208k	180	0.0%$208k	New	–
Invesco Exchange Traded Fd TRSP	$206k	969	0.0%$206k	New	–
PrudentialPUK	$205k	7,635	0.0%$205k	New	–
KB Financial GroupKB	$204k	1,944	0.0%$204k	Trimmed -98%	0.0%
Ishares TrACWI	$171k	1,092	0.0%$171k	Trimmed -6.7%	0.0%
Ishares TrIEUR	$47k	563	0.0%$47k	New	–
Flutter EntertainmentFLUT	–	–	–	Sold out	0.1%
Sealed AirSEE	–	–	–	Sold out	0.1%
GrifolsGRFS	–	–	–	Sold out	0.0%
Exxon MobilEXMOC	–	–	–	Sold out	0.0%
Nuveen Municipal Value FundNUV	–	–	–	Sold out	0.0%

Download the Q2 2026 holdings: CSV · JSON · Markdown

How the portfolio has changed

Each bar is one 13F. Select a bar or press play to see that quarter’s 12 largest positions. How this works

Bars are split by share of the US portfolio: the six biggest holdings over the period in colour, everything else in grey. The last eight quarters are shown in full, earlier years at year end.

2013

2015

2017

2019

2021

2023

Q4 ’24

Q2 ’25

Q4 ’25

Q2 ’26

GOOGGMBACAIGCOFCHTREverything else

2013: Alphabet 0.0%, General Motors 4.4%, Bank of America 2.9%, American International Group 2.9%, Capital One Financial 0.0%, Charter Communications 0.0%; 2014: Alphabet 0.0%, General Motors 4.2%, Bank of America 3.6%, American International Group 3.4%, Capital One Financial 0.0%, Charter Communications 0.0%; 2015: Alphabet 4.0%, General Motors 4.7%, Bank of America 4.0%, American International Group 4.0%, Capital One Financial 0.0%, Charter Communications 0.0%; 2016: Alphabet 4.3%, General Motors 4.4%, Bank of America 4.4%, American International Group 3.2%, Capital One Financial 0.0%, Charter Communications 0.0%; 2017: Alphabet 5.3%, General Motors 4.0%, Bank of America 4.2%, American International Group 2.8%, Capital One Financial 0.0%, Charter Communications 0.0%; 2018: Alphabet 6.1%, General Motors 4.2%, Bank of America 4.0%, American International Group 2.9%, Capital One Financial 0.0%, Charter Communications 3.6%; 2019: Alphabet 6.4%, General Motors 3.8%, Bank of America 5.1%, American International Group 2.7%, Capital One Financial 0.0%, Charter Communications 4.0%; 2020: Alphabet 7.1%, General Motors 3.3%, Bank of America 4.1%, American International Group 2.3%, Capital One Financial 0.0%, Charter Communications 3.4%; 2021: Alphabet 8.7%, General Motors 3.0%, Bank of America 3.7%, American International Group 2.7%, Capital One Financial 0.0%, Charter Communications 3.3%; 2022: Alphabet 7.0%, General Motors 2.7%, Bank of America 2.8%, American International Group 0.0%, Capital One Financial 2.4%, Charter Communications 2.7%; 2023: Alphabet 5.4%, General Motors 0.0%, Bank of America 3.2%, American International Group 2.7%, Capital One Financial 4.3%, Charter Communications 3.5%; Q3 ’24: Alphabet 4.2%, General Motors 0.0%, Bank of America 0.0%, American International Group 2.1%, Capital One Financial 2.8%, Charter Communications 2.2%; Q4 ’24: Alphabet 4.5%, General Motors 2.1%, Bank of America 0.0%, American International Group 2.2%, Capital One Financial 2.8%, Charter Communications 2.0%; Q1 ’25: Alphabet 4.7%, General Motors 2.3%, Bank of America 0.0%, American International Group 3.3%, Capital One Financial 3.0%, Charter Communications 2.6%; Q2 ’25: Alphabet 4.9%, General Motors 0.0%, Bank of America 0.0%, American International Group 2.4%, Capital One Financial 3.5%, Charter Communications 2.4%; Q3 ’25: Alphabet 4.9%, General Motors 0.0%, Bank of America 0.0%, American International Group 0.0%, Capital One Financial 3.1%, Charter Communications 0.0%; Q4 ’25: Alphabet 3.9%, General Motors 0.0%, Bank of America 0.0%, American International Group 2.4%, Capital One Financial 3.3%, Charter Communications 0.0%; Q1 ’26: Alphabet 3.6%, General Motors 0.0%, Bank of America 0.0%, American International Group 0.0%, Capital One Financial 2.5%, Charter Communications 0.0%; Q2 ’26: Alphabet 3.9%, General Motors 0.0%, Bank of America 0.0%, American International Group 0.0%, Capital One Financial 3.1%, Charter Communications 0.0%

Q2 2026

Q4 2013Q2 2026

Oakmark International Fund

1 year+10.3%

3 yearsa year+9.2%

5 yearsa year+4.5%

10 yearsa year+6.6%

Yearly costs0.76%

Total returns after fees for the OAZIX, Class R6 share class (the cheapest one with a full record). 1, 3 and 5-year figures run to 30 Jun 2026, built from the monthly returns the fund reports in its N-PORT filings and checked against its shareholder reports. The 10-year figure is from the shareholder report to 31 Mar 2026. Costs are the expense ratio in the half-year report to 31 Mar 2026, about $82 a year on $10,000. Past returns don’t predict future ones.

Full portfolio at 30 Jun 2026, from the fund’s N-PORT filing. Net assets $12bn. Cash, bonds and other assets make up 2.6%. Changes are against 31 Mar 2026: 1 new, 24 added to, 31 trimmed, 4 sold out.

Oakmark International Fund holdings with change from the previous filing

BNP ParibasBNP Paris	France	3.5%	Added +0.9%	2.8%
adidasADS Xetra	Germany	3.1%	Trimmed -20%	3.0%
Compass GroupCPG London	United Kingdom	2.9%	Added +23%	2.0%
Sunbelt Rentals HoldingsSUNB	United States	2.8%	Trimmed -14%	2.7%
SymriseSY1 Xetra	Germany	2.7%	Trimmed -0.9%	2.3%
AccorAC Paris	France	2.7%	Trimmed -0.2%	2.2%
SAPSAP Xetra	Germany	2.6%	Added +46%	2.0%
LVMH Moet Hennessy Louis VuittonMC Paris	France	2.5%	Added +13%	2.1%
Reckitt Benckiser GroupRKT London	United Kingdom	2.4%	Added +3.0%	2.4%
DSVDSV Copenhagen	Denmark	2.4%	Added +3.0%	2.3%
HexagonHEXAB Stockholm	Sweden	2.3%	Added +30%	2.0%
ProsusPRX Amsterdam	Netherlands	2.2%	Added +13%	2.0%
CNH IndustrialCNH	Netherlands	2.2%	Trimmed -0.4%	2.1%
BunzlBNZL London	United Kingdom	2.2%	Added +6.3%	1.7%
BayerBAYN Xetra	Germany	2.1%	Trimmed -14%	2.0%
AirbusAIR Zurich	Netherlands	2.1%	Trimmed -12%	1.9%
UnileverULVR London	United Kingdom	2.0%	Added +1.3%	1.8%
Daimler Truck HoldingDTG Xetra	Germany	1.9%	Added +5.0%	1.8%
DanoneBN Paris	France	1.9%	Added +11%	1.6%
Bayerische Motoren WerkeBMW Xetra	Germany	1.8%	Added +11%	2.3%
BrenntagBNR Xetra	Germany	1.8%	Added +7.6%	1.8%
Dassault SystemesDSY Paris	France	1.8%	Trimmed -18%	2.1%
Cie Financiere RichemontCFR Zurich	Switzerland	1.7%	Trimmed -28%	1.8%
Samsung Electronics005935 Seoul	South Korea	1.7%	Trimmed -32%	1.4%
Publicis GroupePUB Paris	France	1.6%	Trimmed -24%	1.8%
ContinentalCON Xetra	Germany	1.6%	Trimmed -8.3%	1.5%
Asahi Group Holdings2502 Tokyo	Japan	1.6%	Added +2.8%	1.6%
CoupangCPNG	United States	1.6%	Added +41%	1.2%
Akzo NobelAKZA Amsterdam	Netherlands	1.6%	Trimmed -24%	1.7%
Pernod RicardRI Paris	France	1.6%	Trimmed -13%	1.8%
PrudentialPRU London	United Kingdom	1.6%	Added +2.1%	1.6%
KB Financial Group105560 Seoul	South Korea	1.5%	Trimmed -13%	1.7%
ASR NederlandASRNL Amsterdam	Netherlands	1.5%	Trimmed -10%	1.5%
GlencoreGLEN London	Jersey	1.5%	Trimmed -8.1%	1.8%
SMC6273 Tokyo	Japan	1.5%	Trimmed -31%	1.9%
AllianzALV Xetra	Germany	1.5%	Trimmed -9.3%	1.4%
Alibaba Group Holding9988 Hong Kong	Cayman Islands	1.4%	Added +29%	1.4%
Axis BankAXSB Mumbai	India	1.4%	Trimmed -1.9%	1.2%
AstraZenecaAZN London	United Kingdom	1.4%	Added +5.7%	1.4%
Siemens HealthineersSHL Xetra	Germany	1.4%	Trimmed -17%	1.8%
ImcdIMCD Amsterdam	Netherlands	1.4%	Added +8.7%	1.4%
Fujitsu6702 Tokyo	Japan	1.4%	Added +28%	1.1%
Intesa SanpaoloISP Milan	Italy	1.4%	Trimmed -11%	1.3%
KeringKER Paris	France	1.4%	Trimmed -12%	1.6%
London Stock Exchange GroupLSEG London	United Kingdom	1.3%	Added +28%	1.1%
Fomento Economico MexicanoFMX	Mexico	1.3%	Trimmed -29%	1.5%
thyssenkruppTKA Xetra	Germany	1.1%	Trimmed -6.5%	0.8%
Unicharm8113 Tokyo	Japan	1.0%	Added +28%	0.8%
HaleonHLN	United Kingdom	1.0%	Added +12%	0.9%
DiageoDGE London	United Kingdom	1.0%	Trimmed -9.5%	1.0%
EdenredEDEN Paris	France	1.0%	Trimmed -33%	1.1%
Fresenius SE & CoFRE Xetra	Germany	1.0%	Trimmed -30%	1.6%
ASML HoldingASML	Netherlands	0.9%	Trimmed -33%	0.9%
CapgeminiCAP Paris	France	0.7%	Trimmed -41%	1.5%
Ryanair HoldingsRYA Dublin	Ireland	0.6%	Unchanged	0.5%
Bank Mandiri PerseroBMRI Jakarta	Indonesia	0.4%	Trimmed -64%	1.6%
Bureau VeritasBVI Paris	France	0.4%	New	–
		–	Sold out	1.1%
		–	Sold out	0.8%
		–	Sold out	0.7%
		–	Sold out	0.3%

Oakmark International Small Cap Fund

1 year-1.3%

3 yearsa year+9.7%

5 yearsa year+4.5%

10 yearsa year+7.5%

Yearly costs1.04%

Total returns after fees for the OAZEX, Class R6 share class (the cheapest one with a full record). 1, 3 and 5-year figures run to 30 Jun 2026, built from the monthly returns the fund reports in its N-PORT filings and checked against its shareholder reports. The 10-year figure is from the shareholder report to 31 Mar 2026. Costs are the expense ratio in the half-year report to 31 Mar 2026, about $111 a year on $10,000. Past returns don’t predict future ones.

Full portfolio at 30 Jun 2026, from the fund’s N-PORT filing. Net assets $1.2bn. Cash, bonds and other assets make up 2.5%. Changes are against 31 Mar 2026: 7 new, 23 added to, 26 trimmed, 4 sold out.

Oakmark International Small Cap Fund holdings with change from the previous filing

AteaATEA Oslo	Norway	3.3%	Trimmed -13%	3.2%
Julius Baer GroupBAER Zurich	Switzerland	3.1%	Trimmed -11%	3.0%
ConvaTec GroupCTEC London	United Kingdom	2.7%	Added +27%	2.2%
Fielmann GroupFIE Xetra	Germany	2.6%	Added +5.7%	2.6%
Azelis GroupAZE Brussels	Belgium	2.5%	Trimmed -19%	3.0%
Davide Campari-MilanoCPR Zurich	Netherlands	2.5%	Added +14%	2.6%
AmplifonAMP Milan	Italy	2.5%	Trimmed -3.6%	2.7%
Kimberly-Clark de MexicoKIMBERA Mexico City	Mexico	2.5%	Added +13%	2.4%
Azimut HoldingAZM Milan	Italy	2.4%	Trimmed -16%	2.8%
ValmetVALMT Helsinki	Finland	2.4%	Added +13%	2.6%
Sugi Holdings7649 Tokyo	Japan	2.4%	Added +216%	0.9%
RobertetRBT Paris	France	2.3%	Added +18%	2.0%
Howden Joinery GroupHWDN London	United Kingdom	2.2%	Added +7.7%	2.0%
DuerrDUE Xetra	Germany	2.1%	Trimmed -6.1%	2.5%
JenoptikJEN Xetra	Germany	2.0%	Trimmed -48%	2.5%
oOh!mediaOML Sydney	Australia	2.0%	Trimmed -0.9%	1.4%
AumovioAMV0 Xetra	Germany	2.0%	Added +5.3%	1.9%
Colliers International GroupCIGI Toronto	Canada	2.0%	Added +13%	2.1%
iM Financial Group139130 Seoul	South Korea	2.0%	Trimmed -10%	2.4%
Ermenegildo ZegnaZGN	Netherlands	1.9%	Trimmed -17%	1.9%
Bakkafrost P6BF Xetra	FO	1.8%	Added +10%	1.9%
AnsellANN Sydney	Australia	1.8%	Unchanged	1.7%
FluidraFDR Madrid	Spain	1.8%	Added +45%	1.3%
Pirelli & CPIRC Milan	Italy	1.8%	Trimmed -12%	1.9%
Hamamatsu Photonics6965 Tokyo	Japan	1.8%	New	–
ISSISS Copenhagen	Denmark	1.7%	Trimmed -24%	2.1%
Katitas8919 Tokyo	Japan	1.7%	Trimmed -0.8%	1.7%
Bravida HoldingBRAV Stockholm	Sweden	1.7%	Trimmed -15%	1.6%
TeamViewerTMV Xetra	Germany	1.6%	Trimmed -22%	2.0%
Wynn Macau1128 Hong Kong	Cayman Islands	1.6%	Unchanged	1.8%
Dometic GroupDOM Stockholm	Sweden	1.6%	Unchanged	1.7%
BNK Financial Group138930 Seoul	South Korea	1.5%	Trimmed -15%	2.0%
Travis PerkinsTPK London	United Kingdom	1.5%	Unchanged	1.6%
LanxessLXS Xetra	Germany	1.5%	Added +0.8%	2.0%
AutolivALV	United States	1.5%	Trimmed -7.9%	1.5%
Jeol6951 Tokyo	Japan	1.4%	Trimmed -5.1%	1.2%
TIS3626 Tokyo	Japan	1.4%	Added +7.1%	1.5%
Adecco GroupADEN Zurich	Switzerland	1.4%	Added +25%	1.4%
EFG InternationalEFGN Zurich	Switzerland	1.3%	Unchanged	1.4%
Visional4194 Tokyo	Japan	1.3%	Added +20%	1.0%
Megacable HoldingsMEGACPO Mexico City	Mexico	1.3%	Trimmed -4.1%	1.3%
KonecranesKCR Helsinki	Finland	1.3%	Added +13%	1.2%
Ayala LandALI Manila	Philippines	1.2%	Added +39%	1.0%
St James's PlaceSTJ London	United Kingdom	1.1%	Added +10%	1.0%
dormakaba HoldingDOKA Zurich	Switzerland	1.0%	New	–
HaysHAS London	United Kingdom	1.0%	Added +1.3%	1.1%
Embotelladora AndinaANDINAB Santiago	Chile	1.0%	Unchanged	0.9%
LoomisLOOMIS Stockholm	Sweden	1.0%	Trimmed -36%	1.5%
ReplyREY Milan	Italy	0.8%	New	–
MISUMI Group9962 Tokyo	Japan	0.7%	Trimmed -66%	1.4%
HiabHIAB Helsinki	Finland	0.6%	New	–
Sarana Menara NusantaraTOWR Jakarta	Indonesia	0.6%	Trimmed -5.8%	0.9%
Kansai Paint4613 Tokyo	Japan	0.6%	Added +185%	0.2%
AltenATE Paris	France	0.6%	Trimmed -4.1%	0.7%
Scout24G24 Xetra	Germany	0.6%	New	–
MetsoMETSO Helsinki	Finland	0.5%	Unchanged	0.6%
Minor InternationalMINT.F Bangkok	Thailand	0.5%	Added +12%	0.4%
DTS9682 Tokyo	Japan	0.5%	Added +11%	0.5%
SThreeSTEM London	United Kingdom	0.5%	Trimmed -14%	0.6%
RandstadRAND Amsterdam	Netherlands	0.5%	Trimmed -15%	0.5%
Birkenstock HoldingBIRK	Jersey	0.5%	New	–
SATSSATS Singapore	Singapore	0.5%	New	–
LSL Property ServicesLSL London	United Kingdom	0.4%	Unchanged	0.5%
EssentraESNT London	United Kingdom	0.1%	Trimmed -69%	0.5%
		–	Sold out	2.0%
		–	Sold out	1.2%
		–	Sold out	1.0%
		–	Sold out	0.0%

Oakmark Global Fund

1 year+11.9%

3 yearsa year+9.1%

5 yearsa year+4.7%

10 yearsa year+8.6%

Yearly costs0.85%

Total returns after fees for the OAZGX, Class R6 share class (the cheapest one with a full record). 1, 3 and 5-year figures run to 30 Jun 2026, built from the monthly returns the fund reports in its N-PORT filings and checked against its shareholder reports. The 10-year figure is from the shareholder report to 31 Mar 2026. Costs are the expense ratio in the half-year report to 31 Mar 2026, about $89 a year on $10,000. Past returns don’t predict future ones.

Full portfolio at 30 Jun 2026, from the fund’s N-PORT filing. Net assets $1.1bn. Cash, bonds and other assets make up 3.2%. Changes are against 31 Mar 2026: 6 new, 8 added to, 14 trimmed, 5 sold out.

Oakmark Global Fund holdings with change from the previous filing

Samsung Electronics005930 Seoul	South Korea	3.7%	Trimmed -21%	2.6%
IQVIA HoldingsIQV	United States	3.3%	Added +1.0%	3.0%
BNP ParibasBNP Paris	France	3.2%	Unchanged	2.7%
AirbnbABNB	United States	3.1%	Unchanged	2.9%
Julius Baer GroupBAER Zurich	Switzerland	3.0%	Unchanged	2.6%
Sunbelt Rentals HoldingsSUNB	United States	2.9%	Trimmed -13%	3.1%
adidasADS Xetra	Germany	2.9%	Unchanged	2.4%
CNH IndustrialCNH	Netherlands	2.8%	Unchanged	2.8%
DSVDSV Copenhagen	Denmark	2.8%	Added +5.6%	2.8%
BayerBAYN Xetra	Germany	2.6%	Unchanged	2.2%
SymriseSY1 Xetra	Germany	2.5%	New	–
Keurig Dr PepperKDP	United States	2.3%	Unchanged	1.9%
Elevance HealthELV	United States	2.2%	Trimmed -11%	2.0%
Corebridge FinancialCRBG	United States	2.2%	Unchanged	1.9%
SalesforceCRM	United States	2.2%	Trimmed -2.4%	2.8%
SyscoSYY	United States	2.2%	Unchanged	2.0%
Willis Towers WatsonWTW	Ireland	2.2%	Unchanged	2.6%
Mondelez InternationalMDLZ	United States	2.2%	Unchanged	2.3%
BrenntagBNR Xetra	Germany	2.1%	Unchanged	2.5%
GlencoreGLEN London	Jersey	2.1%	Unchanged	2.4%
ProsusPRX Amsterdam	Netherlands	2.0%	Added +9.8%	2.1%
Envista HoldingsNVST	United States	1.9%	Trimmed -15%	2.3%
Dassault SystemesDSY Paris	France	1.8%	Trimmed -20%	2.3%
SAPSAP Xetra	Germany	1.8%	Added +15%	1.8%
Hamamatsu Photonics6965 Tokyo	Japan	1.7%	New	–
Owens CorningOC	United States	1.7%	New	–
Becton Dickinson & CoBDX	United States	1.6%	Unchanged	1.8%
Compass GroupCPG London	United Kingdom	1.6%	Added +38%	1.0%
Intercontinental ExchangeICE	United States	1.6%	Unchanged	2.1%
HexagonHEXAB Stockholm	Sweden	1.5%	Unchanged	1.9%
Bank of AmericaBAC	United States	1.5%	Trimmed -6.5%	1.5%
AlphabetGOOGL	United States	1.5%	Trimmed -21%	1.6%
Cooper CosCOO	United States	1.5%	New	–
CapgeminiCAP Paris	France	1.4%	Unchanged	1.8%
Bayerische Motoren WerkeBMW Xetra	Germany	1.4%	Unchanged	2.1%
Capital One FinancialCOF	United States	1.4%	Unchanged	1.3%
BrunswickBC	United States	1.4%	Trimmed -21%	1.6%
AstraZenecaAZN London	United Kingdom	1.3%	New	–
Pernod RicardRI Paris	France	1.3%	Unchanged	1.4%
Vail ResortsMTN	United States	1.3%	Added +61%	0.8%
PrudentialPRU London	United Kingdom	1.2%	Unchanged	1.4%
Alibaba Group Holding9988 Hong Kong	Cayman Islands	1.2%	Added +9.4%	1.5%
DiageoDGE London	United Kingdom	1.2%	Unchanged	1.2%
Molina HealthcareMOH	United States	1.2%	Trimmed -19%	0.9%
NetflixNFLX	United States	1.1%	Added +25%	1.3%
American International GroupAIG	United States	1.1%	Unchanged	1.2%
Deere & CoDE	United States	1.0%	Unchanged	0.9%
LVMH Moet Hennessy Louis VuittonMC Paris	France	0.9%	New	–
KeringKER Paris	France	0.9%	Trimmed -50%	2.1%
GartnerIT	United States	0.9%	Trimmed -19%	1.4%
TE ConnectivityTEL	Ireland	0.8%	Unchanged	0.8%
Targa ResourcesTRGP	United States	0.7%	Trimmed -56%	1.5%
ConocoPhillipsCOP	United States	0.3%	Trimmed -76%	1.8%
		–	Sold out	2.1%
		–	Sold out	1.5%
		–	Sold out	1.1%
		–	Sold out	1.0%
		–	Sold out	0.6%

Oakmark Global Select Fund

1 year+1.7%

3 yearsa year+8.9%

5 yearsa year+3.2%

10 yearsa year+8.0%

Yearly costs0.82%

Total returns after fees for the OAZWX, Class R6 share class (the cheapest one with a full record). 1, 3 and 5-year figures run to 30 Jun 2026, built from the monthly returns the fund reports in its N-PORT filings and checked against its shareholder reports. The 10-year figure is from the shareholder report to 31 Mar 2026. Costs are the expense ratio in the half-year report to 31 Mar 2026, about $87 a year on $10,000. Past returns don’t predict future ones.

Full portfolio at 30 Jun 2026, from the fund’s N-PORT filing. Net assets $823m. Cash, bonds and other assets make up 3.4%. Changes are against 31 Mar 2026: 1 new, 0 added to, 12 trimmed, 1 sold out.

Oakmark Global Select Fund holdings with change from the previous filing

BNP ParibasBNP Paris	France	7.4%	Trimmed -9.4%	6.2%
IQVIA HoldingsIQV	United States	6.5%	Trimmed -3.9%	5.6%
CNH IndustrialCNH	Netherlands	6.5%	Unchanged	5.9%
SyscoSYY	United States	5.8%	Unchanged	4.6%
Charles SchwabSCHW	United States	4.6%	Unchanged	4.3%
Becton Dickinson & CoBDX	United States	4.6%	Trimmed -5.2%	4.7%
DSVDSV Copenhagen	Denmark	4.5%	Unchanged	4.2%
AlphabetGOOGL	United States	4.3%	Trimmed -14%	3.7%
BayerBAYN Xetra	Germany	4.2%	Trimmed -26%	4.4%
Sunbelt Rentals HoldingsSUNB	United States	4.0%	Trimmed -5.3%	3.4%
ProsusPRX Amsterdam	Netherlands	3.9%	Unchanged	3.8%
SalesforceCRM	United States	3.8%	Trimmed -5.4%	4.4%
Reckitt Benckiser GroupRKT London	United Kingdom	3.7%	Unchanged	3.5%
Capital One FinancialCOF	United States	3.7%	Unchanged	3.1%
Intercontinental ExchangeICE	United States	3.6%	Trimmed -10%	4.7%
Elevance HealthELV	United States	3.6%	Trimmed -22%	3.2%
American International GroupAIG	United States	3.1%	Unchanged	3.0%
DiageoDGE London	United Kingdom	3.1%	Unchanged	2.7%
Compass GroupCPG London	United Kingdom	2.8%	Unchanged	2.2%
Alibaba Group Holding9988 Hong Kong	Cayman Islands	2.7%	Unchanged	3.3%
Molina HealthcareMOH	United States	2.5%	Trimmed -10%	1.5%
ConocoPhillipsCOP	United States	2.4%	Trimmed -19%	3.5%
Bayerische Motoren WerkeBMW Xetra	Germany	2.3%	Unchanged	3.1%
SAPSAP Xetra	Germany	1.4%	New	–
Dassault SystemesDSY Paris	France	1.4%	Trimmed -54%	2.8%
		–	Sold out	1.2%

Look-through earnings

Harris Associates (Oakmark)’s share of the profits of the US companies it holds. How this works

For each holding, the fraction of the company it owns times the company’s net income. Look-through earnings explained.

Look-through earnings, Q2 2026

$3.7bn

Last 12 months, holdings with SEC financials

Price paid for those earnings

19.7×

Value of those holdings ÷ their earnings

Earnings per share growth

+11.0%

Same holdings, against a year earlier

Portfolio covered

96%

Of the 13F value

$952m2017

$2.1bn2018

$2.5bn2019

$1.0bn2020

$3.3bn2021

$2.9bn2022

$3.2bn2023

$2.5bn2024

$3.1bn2025

$2.0bn2026*

Q1 Q2 Q3 Q4 · each quarter is that quarter’s profits times the stake reported at its end. *2026 so far: 2 quarters. Click a quarter to see its holdings.

Holdings behind

Look-through earnings by holding, Q2 2026

AlphabetGOOG	0.07%	$244bn	$163m	$74.8m	+109.4%
SalesforceCRM	2.0%	$9.7bn	$190m	$69.4m	+69.9%
Capital One FinancialCOF	1.9%	$11bn	$195m	$55.9m	–
First Citizens BancsharesFCNCA	8.0%	$2.4bn	$188m	$53.6m	+12.7%
ConocoPhillipsCOP	1.3%	$9.3bn	$116m	$49.1m	+4.8%
Delta Air LinesDAL	2.6%	$4.0bn	$104m	$42.2m	-12.7%
Charles SchwabSCHW	1.4%	$1.3bn	$17.4m	$39.0m	-2.5%
American International GroupAIG	3.8%	$3.0bn	$113m	$36.2m	+0.4%
Ally FinancialALLY	8.4%	$1.5bn	$122m	$34.4m	+237.3%
Elevance HealthELV	2.3%	$5.0bn	$112m	$33.1m	-4.0%
Reinsurance Group of AmericaRGA	7.1%	$1.5bn	$107m	$32.8m	+98.6%
Intercontinental ExchangeICE	3.2%	$4.0bn	$129m	$30.6m	+36.6%
Bank of AmericaBAC	0.3%	$34bn	$106m	$28.7m	+26.3%
CortevaCTVA	2.4%	$1.0bn	$24.6m	$28.3m	-26.5%
Targa ResourcesTRGP	3.7%	$2.3bn	$83.6m	$28.2m	+39.8%
Amazon.comAMZN	0.04%	$135bn	$57.7m	$26.7m	+89.8%
FiservFISV	4.2%	$2.8bn	$117m	$26.1m	-14.2%
AirbnbABNB	3.2%	$2.7bn	$85.0m	$25.8m	+7.5%
Marsh & Mclennan CompaniesMRSH	1.8%	$4.0bn	$71.7m	$22.8m	-1.0%
GE HealthCare TechnologiesGEHC	3.4%	$2.0bn	$67.0m	$18.9m	-10.7%
General MotorsGM	1.4%	$2.0bn	$29.5m	$18.9m	-53.9%
SyscoSYY	3.4%	$1.8bn	$59.5m	$18.7m	-2.3%
IQVIA HoldingsIQV	7.3%	$1.4bn	$100m	$18.6m	+15.1%
Willis Towers WatsonWTW	6.3%	$1.6bn	$98.4m	$14.4m	+1115.3%
Zimmer Biomet HoldingsZBH	6.6%	$807m	$53.3m	$13.1m	+0.8%
Union PacificUNP	0.7%	$7.3bn	$47.4m	$12.9m	+5.8%
EquifaxEFX	6.3%	$691m	$43.2m	$11.5m	+13.3%
Keurig Dr PepperKDP	6.8%	$1.4bn	$97.1m	$9.7m	-7.2%
Merck & Co.MRK	0.5%	$3.2bn	$15.5m	−$6.5m	-80.3%
CitigroupC	0.5%	$14bn	$67.2m	–	+17.5%

Net income is as reported (GAAP), so it includes one-off items and, for some companies, gains or losses on investments they hold. Companies that report under IFRS (most non-US companies) or whose shares we can’t match reliably are left out; “portfolio covered” shows how much is included. Look-through earnings explained. Growth compares earnings per share over the last 12 months with the 12 months a year earlier, for holdings profitable in both.

5% stake filings

Holdings of 5% or more of a company (13D and 13G), usually reported well before the next 13F. How this works

Harris Associates (Oakmark)’s filings since December 2024, newest first. An amendment showing less than 5% means the holding fell below the threshold. A 13D means the holder may seek to influence the company. How to read a 13D.

Company	Owns	Form	Filed
Wendy’s	3.1%below 5%	13G/A	15 May 2026
Paycom Software	6.8%	13G/A	15 May 2026
Masco	4.2%below 5%	13G/A	15 May 2026
Lithia Motors	8.4%	13G/A	15 May 2026
Icon	5.7%	13G	15 May 2026

US holdings by sector

Financials25.5%
Health care14.2%
Industrials12.7%
Consumer discretionary9.5%
Insurance8.9%
Consumer staples7.2%
Technology5.4%
Communication and media5.4%
Other4.4%
Utilities2.8%
Energy2.6%
Real estate1.1%
Materials0.2%
Not classified0.1%

Sectors are grouped from each company’s SEC industry code, as a share of the Q2 2026 13F.

US portfolio value by quarter

$51bnQ3 ’23

$58bnQ4 ’23

$62bnQ1 ’24

$59bnQ2 ’24

$77bnQ3 ’24

$76bnQ4 ’24

$60bnQ1 ’25

$62bnQ2 ’25

$62bnQ3 ’25

$79bnQ4 ’25

$75bnQ1 ’26

$75bnQ2 ’26

From each quarter’s 13F. Changes reflect both trading and share-price moves.