N-Q 1 a09-19909_1nq.htm N-Q

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

FORM N-Q

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

 

Investment Company Act file number

811-06279

 

 

Harris Associates Investment Trust

(Exact name of registrant as specified in charter)

 

Two North LaSalle Street, Suite 500
Chicago, Illinois

 

60602-3790

(Address of principal executive offices)

 

(Zip code)

 

John R. Raitt

Harris Associates L.P.

Two North LaSalle Street, #500

Chicago, Illinois 60602

Paulita A. Pike

K&L Gates LLP

Three First National Plaza, #3100

Chicago, Illinois 60602

(Name and address of agent for service)

 

Registrant’s telephone number, including area code:

(312) 621-0600

 

 

Date of fiscal year end:

9/30/09

 

 

 

 

Date of reporting period:

6/30/09

 

 



 

Item 1. Schedule of Investments.

 



 

OAKMARK FUND

Schedule of Investments—June 30, 2009 (Unaudited)

 

Name

 

Shares Held

 

Value

 

Common Stocks—94.5%

 

 

 

 

 

 

 

 

 

 

 

Advertising—1.4%

 

 

 

 

 

Omnicom Group, Inc.

 

1,241,254

 

$

39,198,801

 

 

 

 

 

 

 

Apparel Retail—1.3%

 

 

 

 

 

Limited Brands

 

3,014,647

 

$

36,085,325

 

 

 

 

 

 

 

Broadcasting—1.2%

 

 

 

 

 

Discovery Communications, Inc. Class C (a)

 

1,540,140

 

$

31,619,074

 

 

 

 

 

 

 

Cable & Satellite—5.0%

 

 

 

 

 

Liberty Media Corp. - Entertainment (a)

 

3,298,680

 

$

88,239,690

 

Comcast Corp., Class A

 

3,400,000

 

47,940,000

 

 

 

 

 

136,179,690

 

Catalog Retail—1.0%

 

 

 

 

 

Liberty Media Holding Corp. - Interactive, Class A (a)

 

5,699,850

 

$

28,556,249

 

 

 

 

 

 

 

Computer & Electronics Retail—2.2%

 

 

 

 

 

Best Buy Co., Inc.

 

1,819,400

 

$

60,931,706

 

 

 

 

 

 

 

Department Stores—1.8%

 

 

 

 

 

Kohl’s Corp. (a)

 

1,126,900

 

$

48,174,975

 

 

 

 

 

 

 

Home Improvement Retail—2.0%

 

 

 

 

 

The Home Depot, Inc.

 

2,281,500

 

$

53,911,845

 

 

 

 

 

 

 

 

Household Appliances—1.5%

 

 

 

 

 

The Black & Decker Corp.

 

1,400,000

 

$

40,124,000

 

 

 

 

 

 

 

Housewares & Specialties—1.7%

 

 

 

 

 

Fortune Brands, Inc.

 

1,350,000

 

$

46,899,000

 

 

 

 

 

 

 

Motorcycle Manufacturers—1.5%

 

 

 

 

 

Harley-Davidson, Inc.

 

2,462,000

 

$

39,909,020

 

 

 

 

 

 

 

Movies & Entertainment—6.6%

 

 

 

 

 

The Walt Disney Co.

 

2,500,000

 

$

58,325,000

 

Viacom, Inc., Class B (a)

 

2,339,745

 

53,112,211

 

Time Warner, Inc.

 

1,982,566

 

49,940,838

 

Liberty Media Holding Corp. - Capital, Class A (a)

 

1,395,836

 

18,927,536

 

 

 

 

 

180,305,585

 

Restaurants—3.1%

 

 

 

 

 

Yum! Brands, Inc.

 

1,514,000

 

$

50,476,760

 

McDonald’s Corp.

 

594,000

 

34,149,060

 

 

 

 

 

84,625,820

 

Specialized Consumer Services—1.9%

 

 

 

 

 

H&R Block, Inc.

 

3,058,600

 

$

52,699,678

 

 

 

 

 

 

 

Distillers & Vintners—2.6%

 

 

 

 

 

Diageo PLC (b)

 

1,221,000

 

$

69,902,250

 

 

 

 

 

 

 

Drug Retail—2.1%

 

 

 

 

 

Walgreen Co.

 

2,000,000

 

$

58,800,000

 

 



 

Name

 

Shares Held

 

Value

 

Common Stocks—94.5% (cont.)

 

 

 

 

 

 

 

 

 

 

 

Hypermarkets & Super Centers—1.6%

 

 

 

 

 

Wal-Mart Stores, Inc.

 

900,000

 

$

43,596,000

 

 

 

 

 

 

 

Packaged Foods & Meats—1.7%

 

 

 

 

 

H.J. Heinz Co.

 

1,300,000

 

$

46,410,000

 

 

 

 

 

 

 

Oil & Gas Exploration & Production—1.7%

 

 

 

 

 

EnCana Corp. (c)

 

950,000

 

$

46,996,500

 

 

 

 

 

 

 

Asset Management & Custody Banks—3.8%

 

 

 

 

 

Bank of New York Mellon Corp.

 

1,839,630

 

$

53,919,555

 

State Street Corp.

 

1,050,000

 

49,560,000

 

 

 

 

 

103,479,555

 

Consumer Finance—4.2%

 

 

 

 

 

Capital One Financial Corp.

 

3,014,800

 

$

65,963,824

 

American Express Co.

 

2,100,000

 

48,804,000

 

 

 

 

 

114,767,824

 

Investment Banking & Brokerage—1.3%

 

 

 

 

 

Morgan Stanley

 

1,200,000

 

$

34,212,000

 

 

 

 

 

 

 

Other Diversified Financial Services—3.2%

 

 

 

 

 

JPMorgan Chase & Co.

 

1,600,000

 

$

54,576,000

 

Bank of America Corp.

 

2,500,000

 

33,000,000

 

 

 

 

 

87,576,000

 

Health Care Equipment—3.4%

 

 

 

 

 

Medtronic, Inc.

 

1,850,000

 

$

64,546,500

 

Covidien PLC (c)

 

750,000

 

28,080,000

 

 

 

 

 

92,626,500

 

Pharmaceuticals—6.2%

 

 

 

 

 

Schering-Plough Corp.

 

2,431,135

 

$

61,070,111

 

GlaxoSmithKline PLC (b)

 

1,600,000

 

56,544,000

 

Bristol-Myers Squibb Co.

 

2,500,000

 

50,775,000

 

 

 

 

 

168,389,111

 

Aerospace & Defense—2.6%

 

 

 

 

 

The Boeing Co.

 

1,000,000

 

$

42,500,000

 

Precision Castparts Corp.

 

400,000

 

29,212,000

 

 

 

 

 

71,712,000

 

Air Freight & Logistics—2.1%

 

 

 

 

 

FedEx Corp.

 

1,050,000

 

$

58,401,000

 

 

 

 

 

 

 

Industrial Conglomerates—3.2%

 

 

 

 

 

Tyco International, Ltd. (c)

 

2,039,500

 

$

52,986,210

 

3M Co.

 

550,000

 

33,055,000

 

 

 

 

 

86,041,210

 

Industrial Machinery—1.5%

 

 

 

 

 

Illinois Tool Works, Inc.

 

1,100,000

 

$

41,074,000

 

 



 

 

 

Shares Held/

 

 

 

Name

 

Par Value

 

Value

 

Common Stocks—94.5% (cont.)

 

 

 

 

 

 

 

 

 

 

 

Communications Equipment—1.7%

 

 

 

 

 

Cisco Systems, Inc. (a)

 

2,500,000

 

$

46,600,000

 

 

 

 

 

 

 

Computer Hardware—5.8%

 

 

 

 

 

Hewlett-Packard Co.

 

1,725,000

 

$

66,671,250

 

Dell, Inc. (a)

 

3,900,000

 

53,547,000

 

Apple, Inc. (a)

 

270,000

 

38,456,100

 

 

 

 

 

158,674,350

 

Data Processing & Outsourced Services—1.7%

 

 

 

 

 

Western Union Co.

 

2,730,000

 

$

44,772,000

 

 

 

 

 

 

 

Electronic Manufacturing Services—1.9%

 

 

 

 

 

Tyco Electronics, Ltd. (c)

 

2,839,500

 

$

52,786,305

 

 

 

 

 

 

 

Internet Software & Services—1.5%

 

 

 

 

 

eBay, Inc. (a)

 

2,400,000

 

$

41,112,000

 

 

 

 

 

 

 

Semiconductors—5.1%

 

 

 

 

 

Intel Corp.

 

4,350,000

 

$

71,992,500

 

Texas Instruments, Inc.

 

3,200,000

 

68,160,000

 

 

 

 

 

140,152,500

 

Systems Software—3.4%

 

 

 

 

 

Microsoft Corp.

 

2,600,000

 

$

61,802,000

 

Oracle Corp.

 

1,400,000

 

29,988,000

 

 

 

 

 

91,790,000

 

 

 

 

 

 

 

Total Common Stocks (Cost: $2,180,681,385)

 

 

 

2,579,091,873

 

 

 

 

 

 

 

Short Term Investments—5.4%

 

 

 

 

 

 

 

 

 

 

 

Repurchase Agreements—5.4%

 

 

 

 

 

Fixed Income Clearing Corp. Repurchase Agreement, 0.07 % dated 6/26/2009 due 7/2/2009, repurchase price $75,000,875, collateralized by a Federal Farm Credit Bank Bond, with a rate of 3.875%, with a maturity of 8/25/2011, and with a market value plus accrued interest of $25,501,425, and by a Federal Home Loan Mortgage Corp Bond, with a rate of 7.000%, with a maturity of 3/15/2010, and with a market value plus accrued interest of $51,000,000

 

$

75,000,000

 

$

75,000,000

 

Fixed Income Clearing Corp. Repurchase Agreement, 0.03% dated 6/30/2009 due 7/1/2009, repurchase price $72,352,806, collateralized by a Federal Home Loan Bank Bond, with a rate of 0.875%, with a maturity of 3/30/2010, and with a market value plus accrued interest of $73,802,175

 

$

72,352,747

 

$

72,352,747

 

 

 

 

 

 

 

Total Repurchase Agreements (Cost: $147,352,747)

 

 

 

147,352,747

 

 

 

 

 

 

 

Total Short Term Investments (Cost: $147,352,747)

 

 

 

147,352,747

 

 

 

 

 

 

 

Total Investments (Cost: $2,328,034,132)—99.9%

 

 

 

$

2,726,444,620

 

 

 

 

 

 

 

Other Assets In Excess of Liabilities—0.1%

 

 

 

3,230,218

 

 

 

 

 

 

 

Total Net Assets—100%

 

 

 

$

2,729,674,838

 

 



 


(a)       Non income-producing security.

(b)       Represents an American Depositary Receipt.

(c)       Represents a foreign domiciled corporation.

 



 

OAKMARK SELECT FUND

Schedule of Investments—June 30, 2009 (Unaudited)

 

Name

 

Shares Held

 

Value

 

Common Stocks—95.6%

 

 

 

 

 

 

 

 

 

 

 

Broadcasting—9.9%

 

 

 

 

 

Discovery Communications, Inc. Class C (a)

 

9,509,500

 

$

195,230,035

 

 

 

 

 

 

 

Cable & Satellite—8.1%

 

 

 

 

 

Liberty Media Corp. - Entertainment (a)

 

6,017,029

 

$

160,955,526

 

 

 

 

 

 

 

Catalog Retail—2.4%

 

 

 

 

 

Liberty Media Holding Corp. - Interactive, Class A (a)

 

9,400,000

 

$

47,094,000

 

 

 

 

 

 

 

Computer & Electronics Retail—3.5%

 

 

 

 

 

Best Buy Co., Inc.

 

2,050,000

 

$

68,654,500

 

 

 

 

 

 

 

Movies & Entertainment—9.6%

 

 

 

 

 

Viacom, Inc., Class B (a)

 

4,325,000

 

$

98,177,500

 

Time Warner, Inc.

 

3,610,666

 

90,952,676

 

 

 

 

 

189,130,176

 

Restaurants—4.1%

 

 

 

 

 

Yum! Brands, Inc.

 

2,415,000

 

$

80,516,100

 

 

 

 

 

 

 

Specialized Consumer Services—5.6%

 

 

 

 

 

H&R Block, Inc.

 

6,469,600

 

$

111,471,208

 

 

 

 

 

 

 

Oil & Gas Exploration & Production—3.8%

 

 

 

 

 

Newfield Exploration Co. (a)

 

2,300,000

 

$

75,141,000

 

 

 

 

 

 

 

Consumer Finance—3.0%

 

 

 

 

 

Capital One Financial Corp.

 

2,710,600

 

$

59,307,928

 

 

 

 

 

 

 

Other Diversified Financial Services—7.1%

 

 

 

 

 

JPMorgan Chase & Co.

 

2,194,000

 

$

74,837,340

 

Bank of America Corp.

 

4,900,000

 

64,680,000

 

 

 

 

 

139,517,340

 

Health Care Equipment—4.6%

 

 

 

 

 

Medtronic, Inc.

 

2,600,000

 

$

90,714,000

 

 

 

 

 

 

 

Pharmaceuticals—9.5%

 

 

 

 

 

Schering-Plough Corp.

 

4,082,954

 

$

102,563,805

 

Bristol-Myers Squibb Co.

 

4,210,200

 

85,509,162

 

 

 

 

 

188,072,967

 

Computer Hardware—3.9%

 

 

 

 

 

Dell, Inc. (a)

 

5,613,000

 

$

77,066,490

 

 

 

 

 

 

 

Data Processing & Outsourced Services—3.9%

 

 

 

 

 

Western Union Co.

 

4,665,400

 

$

76,512,560

 

 

 

 

 

 

 

Electronic Manufacturing Services—3.9%

 

 

 

 

 

Tyco Electronics, Ltd. (b)

 

4,167,838

 

$

77,480,108

 

 

 

 

 

 

 

Internet Software & Services—3.7%

 

 

 

 

 

eBay, Inc. (a)

 

4,200,000

 

$

71,946,000

 

 

 

 

 

 

 

Semiconductors—9.0%

 

 

 

 

 

Texas Instruments, Inc.

 

4,275,000

 

$

91,057,500

 

 



 

 

 

Shares Held/

 

 

 

Name

 

Par Value

 

Value

 

Common Stocks—95.6% (cont.)

 

 

 

 

 

 

 

 

 

 

 

Semiconductors—9.0% (cont.)

 

 

 

 

 

Intel Corp.

 

5,247,000

 

$

86,837,850

 

 

 

 

 

177,895,350

 

 

 

 

 

 

 

Total Common Stocks (Cost: $1,790,595,665)

 

 

 

1,886,705,288

 

 

 

 

 

 

 

Short Term Investments—4.5%

 

 

 

 

 

 

 

 

 

 

 

Repurchase Agreements—4.5%

 

 

 

 

 

Fixed Income Clearing Corp. Repurchase Agreement, 0.03% dated 6/30/2009 due 7/1/2009, repurchase price $45,015,370, collateralized by Federal Home Loan Bank Bonds, with rates from 0.800% - 0.875% , with maturities from 3/30/2010 - 4/30/2010, and with an aggregate market value plus accrued interest of $45,919,044

 

$

45,015,333

 

$

45,015,333

 

Fixed Income Clearing Corp. Repurchase Agreement, 0.07% dated 6/26/2009 due 7/2/2009, repurchase price $45,000,525, collateralized by a Federal Farm Credit Bank Bond, with a rate of 3.875%, with a maturity of 8/25/2011, and with a market value plus accrued interest of $45,900,000

 

$

45,000,000

 

$

45,000,000

 

 

 

 

 

 

 

Total Repurchase Agreements (Cost: $90,015,333)

 

 

 

90,015,333

 

 

 

 

 

 

 

Total Short Term Investments (Cost: $90,015,333)

 

 

 

90,015,333

 

 

 

 

 

 

 

Total Investments (Cost: $1,880,610,998)—100.1%

 

 

 

$

1,976,720,621

 

 

 

 

 

 

 

 

Liabilities In Excess of Other Assets—(0.1)%

 

 

 

(2,560,231

)

 

 

 

 

 

 

Total Net Assets—100%

 

 

 

$

1,974,160,390

 

 


(a)       Non income-producing security.

(b)       Represents a foreign domiciled corporation.

 



 

OAKMARK EQUITY AND INCOME FUND

Schedule of Investments—June 30, 2009 (Unaudited)

 

Name

 

Shares Held

 

Value

 

Equity and Equivalents—55.6%

 

 

 

 

 

 

 

 

 

 

 

Common Stocks—55.6%

 

 

 

 

 

 

 

 

 

 

 

Apparel Retail—2.4%

 

 

 

 

 

The TJX Cos., Inc.

 

9,003,800

 

$

283,259,548

 

Foot Locker, Inc.

 

4,885,300

 

51,149,091

 

 

 

 

 

334,408,639

 

Cable & Satellite—2.6%

 

 

 

 

 

Comcast Corp., Class A

 

13,434,700

 

$

194,668,803

 

Scripps Networks Interactive, Inc., Class A

 

6,065,600

 

168,805,648

 

 

 

 

 

363,474,451

 

Home Furnishings—0.4%

 

 

 

 

 

Mohawk Industries, Inc. (a)

 

977,100

 

$

34,862,928

 

Leggett & Platt, Inc.

 

1,249,756

 

19,033,784

 

 

 

 

 

53,896,712

 

Publishing—0.1%

 

 

 

 

 

The Washington Post Co., Class B

 

30,000

 

$

10,565,400

 

 

 

 

 

 

 

Specialty Stores—0.4%

 

 

 

 

 

Tractor Supply Co. (a)

 

1,383,000

 

$

57,145,560

 

 

 

 

 

 

 

Distillers & Vintners—2.4%

 

 

 

 

 

Diageo PLC (b)

 

5,813,600

 

$

332,828,600

 

 

 

 

 

 

 

Drug Retail—2.3%

 

 

 

 

 

CVS Caremark Corp.

 

9,770,700

 

$

311,392,209

 

 

 

 

 

 

 

Hypermarkets & Super Centers—4.4%

 

 

 

 

 

Wal-Mart Stores, Inc.

 

7,000,000

 

$

339,080,000

 

Costco Wholesale Corp.

 

6,000,000

 

274,200,000

 

 

 

 

 

613,280,000

 

Packaged Foods & Meats—4.9%

 

 

 

 

 

Nestle SA (b) (c)

 

9,240,600

 

$

348,000,996

 

ConAgra Foods, Inc.

 

17,098,700

 

325,901,222

 

 

 

 

 

673,902,218

 

Personal Products—2.9%

 

 

 

 

 

Avon Products, Inc.

 

15,500,000

 

$

399,590,000

 

 

 

 

 

 

 

Coal & Consumable Fuels—0.8%

 

 

 

 

 

Walter Energy, Inc. (d)

 

3,028,900

 

$

109,767,336

 

 

 

 

 

 

 

Oil & Gas Exploration & Production—8.8%

 

 

 

 

 

XTO Energy, Inc.

 

13,977,572

 

$

533,104,596

 

EnCana Corp. (e)

 

8,012,000

 

396,353,640

 

Apache Corp.

 

3,908,300

 

281,983,845

 

 

 

 

 

1,211,442,081

 

Oil & Gas Storage & Transportation—1.0%

 

 

 

 

 

The Williams Cos., Inc.

 

8,793,600

 

$

137,268,096

 

 



 

Name

 

Shares Held

 

Value

 

Equity and Equivalents—55.6% (cont.)

 

 

 

 

 

 

 

 

 

 

 

Common Stocks—55.6% (cont.)

 

 

 

 

 

 

 

 

 

 

 

Real Estate Investment Trusts—0.1%

 

 

 

 

 

Walter Investment Management Corp. (a) (d)

 

1,106,195

 

$

14,690,270

 

 

 

 

 

 

 

Reinsurance—1.2%

 

 

 

 

 

PartnerRe, Ltd. (e)

 

2,540,400

 

$

164,998,980

 

 

 

 

 

 

 

Health Care Equipment—7.2%

 

 

 

 

 

Covidien PLC (e)

 

9,500,000

 

$

355,680,000

 

Hospira, Inc. (a) (d)

 

7,816,500

 

301,091,580

 

Varian Medical Systems, Inc. (a)

 

5,750,000

 

202,055,000

 

Steris Corp.

 

2,766,900

 

72,160,752

 

Kinetic Concepts, Inc. (a)

 

1,943,800

 

52,968,550

 

 

 

 

 

983,955,882

 

Health Care Services—2.2%

 

 

 

 

 

Laboratory Corp. of America Holdings (a)

 

4,500,000

 

$

305,055,000

 

 

 

 

 

 

 

Life Sciences Tools & Services—0.7%

 

 

 

 

 

Varian, Inc. (a)

 

1,377,100

 

$

54,299,053

 

PerkinElmer, Inc.

 

2,500,000

 

43,500,000

 

 

 

 

 

97,799,053

 

Aerospace & Defense—7.3%

 

 

 

 

 

General Dynamics Corp.

 

7,816,500

 

$

432,955,935

 

Rockwell Collins, Inc.

 

6,350,900

 

265,023,057

 

Goodrich Corp.

 

4,000,000

 

199,880,000

 

Alliant Techsystems, Inc. (a)

 

1,255,700

 

103,419,452

 

 

 

 

 

1,001,278,444

 

Industrial Machinery—0.8%

 

 

 

 

 

Pentair, Inc.

 

3,908,300

 

$

100,130,646

 

Mueller Water Products, Inc., Class A (d)

 

2,442,700

 

9,135,698

 

 

 

 

 

109,266,344

 

Marine—0.6%

 

 

 

 

 

Kirby Corp. (a)

 

2,589,200

 

$

82,310,668

 

 

 

 

 

 

 

Application Software—0.1%

 

 

 

 

 

Mentor Graphics Corp. (a)

 

3,116,618

 

$

17,047,900

 

 

 

 

 

 

 

Communications Equipment—0.6%

 

 

 

 

 

EchoStar Corp. (a) (d)

 

4,787,600

 

$

76,314,344

 

 

 

 

 

 

 

Electronic Manufacturing Services—0.8%

 

 

 

 

 

Tyco Electronics, Ltd. (e)

 

6,106,700

 

$

113,523,553

 

 

 

 

 

 

 

Construction Materials—0.6%

 

 

 

 

 

Martin Marietta Materials, Inc.

 

1,025,000

 

$

80,852,000

 

 

 

 

 

 

 

Total Common Stocks (Cost: $7,278,001,519)

 

 

 

7,656,053,740

 

 

 

 

 

 

 

Total Equity and Equivalents (Cost: $7,278,001,519)

 

 

 

7,656,053,740

 

 



 

Name

 

Par Value

 

Value

 

Fixed Income—39.7%

 

 

 

 

 

 

 

 

 

 

 

Corporate Bonds—0.9%

 

 

 

 

 

 

 

 

 

 

 

Diversified Real Estate Activities—0.2%

 

 

 

 

 

Brookfield Asset Management, Inc., 7.125%, due 6/15/2012

 

$

19,055,000

 

$

18,710,600

 

Brookfield Asset Management, Inc., 5.75%, due 3/1/2010

 

4,765,000

 

4,742,976

 

 

 

 

 

23,453,576

 

Property & Casualty Insurance—0.2%

 

 

 

 

 

Fund American Cos., Inc., 5.875%, due 5/15/2013

 

$

20,733,000

 

$

19,530,237

 

 

 

 

 

 

 

Insurance Brokers—0.1%

 

 

 

 

 

Marsh & McLennan Cos., Inc., 6.25%, due 3/15/2012

 

$

10,505,000

 

$

10,805,979

 

Marsh & McLennan Cos., Inc., 5.15%, due 9/15/2010

 

8,365,000

 

8,382,935

 

 

 

 

 

19,188,914

 

Leisure Facilities—0.1%

 

 

 

 

 

Vail Resorts, Inc., 6.75%, due 2/15/2014

 

$

15,067,000

 

$

14,539,655

 

 

 

 

 

 

 

Home Improvement Retail—0.1%

 

 

 

 

 

Home Depot, Inc., 0.749%, due 12/16/2009 (f)

 

$

8,200,000

 

$

8,174,990

 

 

 

 

 

 

 

Casinos & Gaming—0.0%

 

 

 

 

 

International Game Technology, Senior Note, 7.50%, due 6/15/2019

 

$

1,775,000

 

$

1,790,939

 

 

 

 

 

 

 

Paper Packaging—0.1%

 

 

 

 

 

Sealed Air Corp., 144A, 5.625%, due 7/15/2013 (g)

 

$

18,955,000

 

$

17,141,139

 

 

 

 

 

 

 

Semiconductors—0.1%

 

 

 

 

 

ASML Holding NV, 5.75%, due 6/13/2017

 

EUR

9,770,000

 

$

10,690,553

 

 

 

 

 

 

 

Oil & Gas Exploration & Production—0.0%

 

 

 

 

 

Newfield Exploration Co., 7.625%, due 3/1/2011

 

$

2,245,000

 

$

2,250,612

 

 

 

 

 

 

 

Health Care Services—0.0%

 

 

 

 

 

Quest Diagnostic, Inc., Senior Note, 5.125%, due 11/1/2010

 

$

1,640,000

 

$

1,676,187

 

 

 

 

 

 

 

Total Corporate Bonds (Cost: $109,997,641)

 

 

 

118,436,802

 

 

 

 

 

 

 

Government and Agency Securities—38.8%

 

 

 

 

 

 

 

 

 

 

 

Canadian Government Bonds—3.2%

 

 

 

 

 

Canadian Government Bond, 4.00%, due 6/1/2017

 

CAD

100,000,000

 

$

91,475,734

 

Canadian Government Bond, 4.00%, due 6/1/2016

 

CAD

98,855,000

 

90,795,489

 

Canadian Government Bond, 3.00%, due 6/1/2014

 

CAD

100,000,000

 

88,114,173

 

Canadian Government Bond, 3.50%, due 6/1/2013

 

CAD

97,705,000

 

87,878,640

 

Canadian Government Bond, 1.25%, due 6/1/2011

 

CAD

100,000,000

 

86,042,213

 

 

 

 

 

444,306,249

 

U.S. Government Agencies—5.8%

 

 

 

 

 

Federal Farm Credit Bank, 3.50%, due 10/3/2011

 

$

97,705,000

 

$

102,053,361

 

Federal Farm Credit Bank, 0.205%, due 2/22/2012 (f)

 

94,775,000

 

94,255,064

 

Federal Home Loan Bank, 3.25%, due 3/11/2011

 

78,165,000

 

81,031,780

 

Tennessee Valley Authority, 6.79%, due 5/23/2012

 

57,385,000

 

64,778,483

 

Tennessee Valley Authority, 5.50%, due 7/18/2017

 

57,160,000

 

62,340,182

 

Federal Farm Credit Bank, 3.875%, due 11/13/2012

 

39,085,000

 

41,289,941

 

 



 

Name

 

Par Value

 

Value

 

Fixed Income—39.7% (cont.)

 

 

 

 

 

 

 

 

 

 

 

U.S. Government Agencies—5.8% (cont.)

 

 

 

 

 

Federal Farm Credit Bank, 3.15%, due 5/19/2011

 

$

34,195,000

 

$

35,415,283

 

Tennessee Valley Authority, 4.875%, due 12/15/2016

 

30,865,000

 

32,224,048

 

Private Export Funding Corp. Series Y, 3.55%, due 4/15/2013

 

24,425,000

 

25,338,348

 

Federal Home Loan Mortgage Corp., 0.75%, due 12/2/2011 (h)

 

20,000,000

 

19,982,940

 

Federal Home Loan Bank, 0.50%, due 6/24/2011 (h)

 

19,000,000

 

18,987,498

 

Federal Home Loan Mortgage Corp., 1.25%, due 4/30/2012 (h)

 

17,500,000

 

17,507,018

 

Federal Farm Credit Bank, 4.50%, due 10/17/2012

 

15,390,000

 

16,562,610

 

Federal Farm Credit Bank, 5.125%, due 8/25/2016

 

14,290,000

 

15,570,570

 

Private Export Funding Corp. Secured Note, Series 1, 7.20%, due 1/15/2010

 

14,655,000

 

15,188,735

 

Federal Agricultural Mortgage Corp., 3.875%, due 8/19/2011

 

14,290,000

 

15,028,536

 

Federal Farm Credit Bank, 3.875%, due 8/25/2011

 

14,165,000

 

14,899,455

 

Tennessee Valley Authority, 4.375%, due 6/15/2015

 

9,770,000

 

10,333,377

 

Federal Farm Credit Bank, 1.00%, due 6/8/2011 (f)

 

10,000,000

 

9,995,430

 

Federal National Mortgage Association, 1.50%, due 5/12/2014 (h)

 

10,000,000

 

9,953,830

 

Federal Farm Credit Bank, 5.25%, due 7/16/2010

 

9,480,000

 

9,938,889

 

Federal Farm Credit Bank, 3.85%, due 2/11/2015

 

9,525,000

 

9,824,914

 

Federal Home Loan Bank, 1.00%, due 6/8/2012 (h)

 

9,500,000

 

9,486,197

 

Tennessee Valley Authority, 5.625%, due 1/18/2011

 

8,521,000

 

9,119,012

 

Federal Home Loan Mortgage Corp., 3.00%, due 6/30/2014 (h)

 

8,880,000

 

8,947,790

 

Federal Farm Credit Bank, 5.28%, due 8/16/2013

 

7,330,000

 

8,123,604

 

Federal Farm Credit Bank, 5.20%, due 11/28/2016

 

5,715,000

 

6,210,588

 

Federal Farm Credit Bank, 5.125%, due 6/6/2011

 

5,310,000

 

5,699,499

 

Federal Farm Credit Bank, 4.92%, due 8/26/2013

 

4,765,000

 

5,214,387

 

Federal Farm Credit Bank, 4.875%, due 12/16/2015

 

4,765,000

 

5,126,478

 

Federal Farm Credit Bank, 5.10%, due 8/9/2011

 

4,740,000

 

5,103,672

 

Federal National Mortgage Association, 2.50%, due 6/23/2014 (h)

 

5,000,000

 

4,993,355

 

Federal Farm Credit Bank, 4.85%, due 3/9/2011

 

4,222,000

 

4,488,239

 

Federal Farm Credit Bank, 5.05%, due 5/25/2011

 

3,791,000

 

4,061,344

 

Federal Farm Credit Bank, 4.50%, due 8/8/2011

 

2,845,000

 

3,013,165

 

Federal Farm Credit Bank, 4.82%, due 10/12/2012

 

2,370,000

 

2,574,275

 

 

 

 

 

804,661,897

 

U.S. Government Bonds—1.2%

 

 

 

 

 

United States Treasury Bonds, 8.125%, due 8/15/2019

 

$

122,135,000

 

$

167,458,566

 

 

 

 

 

 

 

U.S. Government Notes—28.6%

 

 

 

 

 

United States Treasury Notes, 2.625%, due 7/15/2017 , Inflation Indexed

 

$

514,395,000

 

$

548,152,172

 

United States Treasury Notes, 4.875%, due 2/15/2012

 

473,880,000

 

516,825,375

 

United States Treasury Notes, 2.125%, due 1/15/2019 , Inflation Indexed

 

496,560,000

 

512,853,127

 

United States Treasury Notes, 2.875%, due 1/31/2013

 

488,535,000

 

505,061,162

 

United States Treasury Notes, 1.625%, due 1/15/2018 , Inflation Indexed

 

508,890,000

 

503,959,873

 

 



 

Name

 

Par Value

 

Value

 

Fixed Income—39.7% (cont.)

 

 

 

 

 

 

 

 

 

 

 

U.S. Government Notes—28.6% (cont.)

 

 

 

 

 

United States Treasury Notes, 3.25%, due 5/31/2016

 

$

500,000,000

 

$

502,187,500

 

United States Treasury Notes, 1.375%, due 7/15/2018 , Inflation Indexed

 

494,395,000

 

479,254,153

 

United States Treasury Notes, 3.125%, due 5/15/2019

 

375,000,000

 

362,696,250

 

 

 

 

 

3,930,989,612

 

 

 

 

 

 

 

Total Government and Agency Securities (Cost: $5,243,828,138)

 

 

 

5,347,416,324

 

 

 

 

 

 

 

Total Fixed Income (Cost: $5,353,825,779)

 

 

 

5,465,853,126

 

 

 

 

 

 

 

Short Term Investments—4.6%

 

 

 

 

 

 

 

 

 

 

 

Canadian Treasury Bills—1.1%

 

 

 

 

 

Canadian Treasury Bills, 0.46% - 0.57%, due 12/24/2009 - 6/10/2010

 

CAD

172,700,000

 

$

148,029,940

 

 

 

 

 

 

 

Total Canadian Treasury Bills (Cost: $143,344,271)

 

 

 

148,029,940

 

 

 

 

 

 

 

United Kingdom Government Bonds—0.6%

 

 

 

 

 

United Kingdom Gilt, 0.66%, due 6/7/2010

 

GBP

50,000,000

 

$

85,248,483

 

 

 

 

 

 

 

Total United Kingdom Government Bonds (Cost: $85,890,217)

 

 

 

85,248,483

 

 

 

 

 

 

 

Repurchase Agreements—2.9%

 

 

 

 

 

Fixed Income Clearing Corp. Repurchase Agreement, 0.07% dated 6/26/2009 due 7/2/2009, repurchase price $200,002,332, collateralized by a Federal Farm Credit Bank Bond, with a rate of 3.875%, with a maturity of 8/25/2011, and with a market value plus accrued interest of $58,395,000, and by a Federal Home Loan Mortgage Corp. Bond, with a rate of 7.000%, with a maturity of 03/15/2010, and with a market value plus accrued interest of $45,118,725, and by a Federal National Mortgage Association Bond, with a rate of 3.000%, with a maturity of 1/13/2014, and with a market value plus accrued interest of $100,500,000

 

$

200,000,000

 

$

200,000,000

 

Fixed Income Clearing Corp. Repurchase Agreement, 0.03% dated 6/30/2009 due 7/1/2009, repurchase price $196,014,951, collateralized by Federal Home Loan Bank Bonds, with rates from 0.875% - 1.100%, with a maturity of 3/30/2010, and with an aggregate market value plus accrued interest of $199,936,525

 

$

196,014,788

 

$

196,014,788

 

 

 

 

 

 

 

Total Repurchase Agreements (Cost: $396,014,788)

 

 

 

396,014,788

 

 

 

 

 

 

 

Total Short Term Investments (Cost: $625,249,276)

 

 

 

629,293,211

 

 

 

 

 

 

 

Total Investments (Cost: $13,257,076,574)—99.9%

 

 

 

$

13,751,200,077

 

 

 

 

 

 

 

Other Assets In Excess of Liabilities—0.1%

 

 

 

13,273,070

 

 

 

 

 

 

 

Total Net Assets—100%

 

 

 

$

13,764,473,147

 

 


(a)                      Non income-producing security.

(b)                     Represents an American Depositary Receipt.

 



 

(c)                      Market value is determined in good faith in accordance with procedures established by the Board of Trustees.

(d)                     See note number two in the Notes to Schedule of Investments regarding investments in affiliated issuers.

(e)                      Represents a foreign domiciled corporation.

(f)                        Floating Rate Note. Rate shown is as of June 30, 2009.

(g)                     Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933.  These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(h)                     Step-Coupon.

 

Key to abbreviations:

CAD: Canadian Dollar

EUR: Euro Dollar

GBP: British Pound

 



 

The Oakmark Global Fund

 

Global Diversification—June 30, 2009 (Unaudited)

 

 

 

% of Fund

 

 

 

Equity Value

 

Europe 47.6%

 

 

 

Switzerland

 

17.6

%

Germany

 

7.5

%

France

 

6.7

%

Italy

 

5.2

%

Ireland

 

4.7

%

Sweden

 

3.2

%

United Kingdom

 

2.7

%

United States 34.3%

 

 

 

Asia 16.3%

 

 

 

Japan

 

16.3

%

North America 1.8%

 

 

 

Canada

 

1.8

%

 



 

OAKMARK GLOBAL FUND

Schedule of Investments—June 30, 2009 (Unaudited)

 

Name

 

Description

 

Shares Held

 

Value

 

Common Stocks—98.5%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Apparel, Accessories & Luxury Goods—5.1%

 

 

 

 

 

Bulgari SpA (Italy) (b)

 

Jewelry Manufacturer & Retailer

 

9,199,900

 

$

49,172,135

 

Luxottica Group SpA (Italy) (a)

 

Manufacturer & Retailer of Eyeglass Frames & Sunglasses

 

1,098,700

 

22,950,112

 

 

 

 

 

 

 

72,122,247

 

Automobile Manufacturers—5.7%

 

 

 

 

 

 

 

Daimler AG Registered (Germany)

 

Automobile Manufacturer

 

1,278,500

 

$

46,237,530

 

Toyota Motor Corp. (Japan)

 

Automobile Manufacturer

 

921,700

 

35,113,292

 

 

 

 

 

 

 

81,350,822

 

Broadcasting—6.9%

 

 

 

 

 

 

 

Societe Television Francaise 1 (France)

 

Broadcasting & Cable TV

 

4,806,600

 

$

53,896,279

 

Discovery Communications, Inc. Class C (United States) (a)

 

Media Management & Network Services

 

1,550,150

 

31,824,579

 

Discovery Communications, Inc. Class A (United States) (a)

 

Media Management & Network Services

 

532,550

 

12,009,003

 

 

 

 

 

 

 

97,729,861

 

Household Appliances—3.7%

 

 

 

 

 

 

 

Snap-On, Inc. (United States)

 

Tool & Equipment Manufacturer

 

1,814,000

 

$

52,134,360

 

 

 

 

 

 

 

 

 

Movies & Entertainment—1.1%

 

 

 

 

 

 

 

Live Nation, Inc. (United States) (a)

 

Live Events Producer, Operator, & Promoter

 

3,296,600

 

$

16,021,476

 

 

 

 

 

 

 

 

 

Publishing—0.7%

 

 

 

 

 

 

 

The Washington Post Co., Class B (United States)

 

Newspaper & Magazine Publishing; Educational & Career Development Service Provider

 

30,660

 

$

10,797,839

 

 

 

 

 

 

 

 

 

Distillers & Vintners—2.6%

 

 

 

 

 

 

 

Diageo PLC (United Kingdom)

 

Beverages, Wines, & Spirits Manufacturer

 

2,607,800

 

$

37,390,413

 

 

 

 

 

 

 

 

 

Oil & Gas Exploration & Production—5.4%

 

 

 

 

 

XTO Energy, Inc. (United States)

 

Oil & Natural Gas Exploration & Production

 

1,239,800

 

$

47,285,972

 

Apache Corp. (United States)

 

Oil & Natural Gas Exploration & Production

 

404,500

 

29,184,675

 

 

 

 

 

 

 

76,470,647

 

Asset Management & Custody Banks—4.7%

 

 

 

 

 

Julius Baer Holding AG (Switzerland)

 

Asset Management

 

1,710,000

 

$

66,382,403

 

 

 

 

 

 

 

 

 

Diversified Banks—1.7%

 

 

 

 

 

 

 

Bank of Ireland (Ireland) (a)

 

Commercial Bank

 

10,355,900

 

$

24,479,286

 

 



 

Name

 

Description

 

Shares Held

 

Value

 

Common Stocks—98.5% (cont.)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diversified Capital Markets—6.4%

 

 

 

 

 

 

 

Credit Suisse Group (Switzerland)

 

Wealth Management & Investment Banking

 

1,012,600

 

$

46,224,251

 

UBS AG (Switzerland) (a)

 

Wealth Management & Investment Banking

 

3,641,020

 

44,534,679

 

 

 

 

 

 

 

90,758,930

 

Investment Banking & Brokerage—4.5%

 

 

 

 

 

Daiwa Securities Group, Inc. (Japan)

 

Stock Broker

 

10,652,000

 

$

63,579,177

 

 

 

 

 

 

 

 

 

Health Care Equipment—5.2%

 

 

 

 

 

 

 

Covidien PLC (Ireland)

 

Health Care Equipment & Supplies

 

1,098,000

 

$

41,109,120

 

Medtronic, Inc. (United States)

 

Health Care Equipment

 

945,900

 

33,002,451

 

 

 

 

 

 

 

74,111,571

 

Health Care Services—4.1%

 

 

 

 

 

 

 

Laboratory Corp. of America Holdings (United States) (a)

 

Medical Laboratory & Testing Services

 

864,400

 

$

58,597,676

 

 

 

 

 

 

 

 

 

Life Sciences Tools & Services—1.8%

 

 

 

 

 

 

 

MDS, Inc. (Canada) (a)

 

Products & Services for Medical Product Manufacturers

 

4,633,000

 

$

24,740,220

 

 

 

 

 

 

 

 

 

Aerospace & Defense—3.0%

 

 

 

 

 

 

 

Alliant Techsystems, Inc. (United States) (a)

 

Propulsion Systems & Munitions

 

260,487

 

$

21,453,709

 

ITT Corp. (United States)

 

Designs & Manufactures a Variety of Engineered Products & Military Defense Systems

 

480,000

 

21,360,000

 

 

 

 

 

 

 

42,813,709

 

Building Products—3.2%

 

 

 

 

 

 

 

Assa Abloy AB, Series B (Sweden)

 

Develops, Designs, & Manufactures Security Locks

 

3,229,500

 

$

45,001,556

 

 

 

 

 

 

 

 

 

Human Resource & Employment Services—3.4%

 

 

 

 

 

Adecco SA (Switzerland)

 

Temporary Employment Services

 

1,166,400

 

$

48,586,134

 

 

 

 

 

 

 

 

 

Industrial Conglomerates—1.5%

 

 

 

 

 

 

 

Rheinmetall AG (Germany)

 

Automotive Pump Manufacturer

 

511,800

 

$

22,149,628

 

 

 

 

 

 

 

 

 

Railroads—3.0%

 

 

 

 

 

 

 

Union Pacific Corp. (United States)

 

Rail Transportation Provider

 

813,600

 

$

42,356,016

 

 

 

 

 

 

 

 

 

Research & Consulting Services—0.7%

 

 

 

 

 

Meitec Corp. (Japan)

 

Software Engineering Services

 

565,000

 

$

9,771,007

 

 

 

 

 

 

 

 

 

Application Software—2.6%

 

 

 

 

 

 

 

SAP AG (Germany)

 

Develops Business Software

 

928,000

 

$

37,323,869

 

 

 

 

 

 

 

 

 

Electronic Components—2.7%

 

 

 

 

 

 

 

OMRON Corp. (Japan)

 

Component, Equipment, & System Manufacturer

 

2,706,300

 

$

39,189,168

 

 



 

Name

 

Description

 

Shares Held/
Par Value

 

Value

 

Common Stocks—98.5% (cont.)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Electronic Manufacturing Services—2.1%

 

 

 

 

 

Tyco Electronics, Ltd. (Switzerland)

 

Manufactures Electronic Components

 

1,581,200

 

$

29,394,508

 

 

 

 

 

 

 

 

 

Office Electronics—5.7%

 

 

 

 

 

 

 

Canon, Inc. (Japan)

 

Computers & Information

 

1,227,900

 

$

40,277,822

 

Neopost SA (France) (b)

 

Mailroom Equipment Supplier

 

447,500

 

40,180,740

 

 

 

 

 

 

 

80,458,562

 

Semiconductors—5.8%

 

 

 

 

 

 

 

Intel Corp. (United States)

 

Computer Component Manufacturer & Designer

 

2,539,000

 

$

42,020,450

 

Rohm Co., Ltd. (Japan)

 

Integrated Circuits & Semiconductor Devices Manufacturer

 

553,500

 

40,391,394

 

 

 

 

 

 

 

82,411,844

 

Systems Software—4.4%

 

 

 

 

 

 

 

Oracle Corp. (United States)

 

Software Services

 

2,926,000

 

$

62,674,920

 

 

 

 

 

 

 

 

 

Specialty Chemicals—0.8%

 

 

 

 

 

 

 

Givaudan SA (Switzerland)

 

Manufactures & Markets Fragrances

 

18,200

 

$

11,147,301

 

 

 

 

 

 

 

 

 

Total Common Stocks (Cost: $1,681,146,780)

 

 

 

1,399,945,150

 

 

 

 

 

 

 

 

 

Short Term Investment—1.3%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Repurchase Agreement—1.3%

 

 

 

 

 

 

 

Fixed Income Clearing Corp. Repurchase Agreement, 0.03% dated 6/30/2009 due 7/1/2009, repurchase price $18,863,996, collateralized by a Federal Home Loan Bank Bond, with a rate of 0.875%, with a maturity of 3/30/2010, and with a market value plus accrued interest of $19,245,750

 

$

18,863,980

 

$

18,863,980

 

 

 

 

 

 

 

 

 

Total Repurchase Agreement (Cost: $18,863,980)

 

 

 

18,863,980

 

 

 

 

 

 

 

 

 

Total Short Term Investment (Cost: $18,863,980)

 

 

 

18,863,980

 

 

 

 

 

 

 

 

 

Total Investments (Cost: $1,700,010,760)—99.8%

 

 

 

$

1,418,809,130

 

 

 

 

 

 

 

 

 

Foreign Currencies (Cost: $412,312)—0.0%

 

 

 

$

407,497

 

Other Assets In Excess of Liabilities—0.2%

 

 

 

2,974,678

 

 

 

 

 

 

 

 

 

Total Net Assets—100%

 

 

 

 

 

$

1,422,191,305

 

 


(a)

Non income-producing security.

(b)

A portion of security out on loan.

 



 

The Oakmark Global Select Fund

Global Diversification— June 30, 2009 (Unaudited)

 

 

 

% of Fund

 

 

 

Equity Value

 

United States 48.8%

 

 

 

Europe 39.4%

 

 

 

Switzerland

 

18.1

%

United Kingdom

 

9.8

%

France

 

7.5

%

Germany

 

4.0

%

Asia 11.8%

 

 

 

Japan

 

11.8

%

 



 

OAKMARK GLOBAL SELECT FUND

Schedule of Investments—June 30, 2009 (Unaudited)

 

Name

 

Description

 

Shares Held

 

Value

 

Common Stocks—95.2%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Apparel, Accessories & Luxury Goods—6.1%

 

 

 

 

 

Compagnie Financiere Richemont SA (Switzerland)

 

Manufacturer & Retailer of Luxury Goods

 

670,500

 

$

13,933,910

 

 

 

 

 

 

 

 

 

Broadcasting—7.1%

 

 

 

 

 

 

 

Societe Television Francaise 1 (France)

 

Broadcasting & Cable TV

 

1,462,000

 

$

16,393,368

 

 

 

 

 

 

 

 

 

Cable & Satellite—11.6%

 

 

 

 

 

 

 

Liberty Media Corp. - Entertainment (United States) (a)

 

Television & On-line Media Holdings

 

625,000

 

$

16,718,750

 

British Sky Broadcasting Group PLC (United Kingdom)

 

Television Production & Broadcasting

 

1,347,000

 

10,083,181

 

 

 

 

 

 

 

26,801,931

 

Computer & Electronics Retail—5.0%

 

 

 

 

 

 

 

Best Buy Co., Inc. (United States)

 

Computer & Electronics Retailer

 

345,000

 

$

11,554,050

 

 

 

 

 

 

 

 

 

Movies & Entertainment—8.4%

 

 

 

 

 

 

 

Viacom, Inc., Class B (United States) (a)

 

Publishing Company

 

514,000

 

$

11,667,800

 

Time Warner, Inc. (United States)

 

Filmed Entertainment & Television Networks

 

303,333

 

7,640,958

 

 

 

 

 

 

 

19,308,758

 

Asset Management & Custody Banks—5.0%

 

 

 

 

 

Schroders PLC (United Kingdom)

 

International Asset Management

 

841,600

 

$

11,360,642

 

 

 

 

 

 

 

 

 

Consumer Finance—2.3%

 

 

 

 

 

 

 

Capital One Financial Corp. (United States)

 

Credit Card Products & Services Provider

 

245,000

 

$

5,360,600

 

 

 

 

 

 

 

 

 

Diversified Capital Markets—6.0%

 

 

 

 

 

 

 

Credit Suisse Group (Switzerland)

 

Wealth Management & Investment Banking

 

302,300

 

$

13,799,715

 

 

 

 

 

 

 

 

 

Investment Banking & Brokerage—5.6%

 

 

 

 

 

Daiwa Securities Group, Inc. (Japan)

 

Stock Broker

 

2,173,000

 

$

12,970,104

 

 

 

 

 

 

 

 

 

Other Diversified Financial Services—2.0%

 

 

 

 

 

Bank of America Corp. (United States)

 

Banking & Financial Services

 

350,000

 

$

4,620,000

 

 

 

 

 

 

 

 

 

Pharmaceuticals—7.6%

 

 

 

 

 

 

 

Schering-Plough Corp. (United States)

 

Pharmaceuticals

 

370,000

 

$

9,294,400

 

Bristol-Myers Squibb Co. (United States)

 

Health & Personal Care

 

405,000

 

8,225,550

 

 

 

 

 

 

 

17,519,950

 

Human Resource & Employment Services—5.2%

 

 

 

 

 

Adecco SA (Switzerland)

 

Temporary Employment Services

 

288,900

 

$

12,034,066

 

 



 

Name

 

Description

 

Shares Held/
Par Value

 

Value

 

Common Stocks—95.2% (cont.)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Application Software—3.9%

 

 

 

 

 

 

 

SAP AG (Germany)

 

Develops Business Software

 

221,000

 

$

8,888,551

 

 

 

 

 

 

 

 

 

Computer Hardware—4.4%

 

 

 

 

 

 

 

Dell, Inc. (United States) (a)

 

Technology Products & Services

 

738,000

 

$

10,132,740

 

 

 

 

 

 

 

 

 

Semiconductors—15.0%

 

 

 

 

 

 

 

Rohm Co., Ltd. (Japan)

 

Integrated Circuits & Semiconductor Devices Manufacturer

 

176,500

 

$

12,880,002

 

Texas Instruments, Inc. (United States)

 

Designs & Supplies Digital Signal Processing & Analog Technologies

 

560,000

 

11,928,000

 

Intel Corp. (United States)

 

Computer Component Manufacturer & Designer

 

592,000

 

9,797,600

 

 

 

 

 

 

 

34,605,602

 

 

 

 

 

 

 

 

 

Total Common Stocks (Cost: $249,027,563)

 

 

 

219,283,987

 

 

 

 

 

 

 

 

 

Short Term Investments—4.6%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Repurchase Agreements—4.6%

 

 

 

 

 

 

 

Fixed Income Clearing Corp. Repurchase Agreement, 0.03% dated 6/30/2009 due 7/1/2009, repurchase price $6,634,783, collateralized by a Federal Home Loan Bank Bond, with a rate of 1.100%, with a maturity of 3/30/2010, and with a market value plus accrued interest of $6,770,400

 

$

6,634,778

 

$

6,634,778

 

Fixed Income Clearing Corp. Repurchase Agreement, 0.07% dated 6/26/2009 due 7/2/2009, repurchase price $4,000,047, collateralized by a Federal Farm Credit Bank Bond, with a rate of 3.875%, with a maturity of 8/25/2011, and with a market value plus accrued interest of $4,080,000

 

$

4,000,000

 

$

4,000,000

 

 

 

 

 

 

 

 

 

Total Repurchase Agreements (Cost: $10,634,778)

 

 

 

10,634,778

 

 

 

 

 

 

 

 

 

Total Short Term Investments (Cost: $10,634,778)

 

 

 

10,634,778

 

 

 

 

 

 

 

 

 

Total Investments (Cost: $259,662,341)—99.8%

 

 

 

$

229,918,765

 

 

 

 

 

 

 

 

 

Foreign Currencies (Cost: $112,062)—0.0%

 

 

 

$

110,753

 

Other Assets In Excess of Liabilities—0.2%

 

 

 

461,932

 

 

 

 

 

 

 

 

 

Total Net Assets—100%

 

 

 

 

 

$

230,491,450

 

 


(a)

Non income-producing security.

 



 

The Oakmark International Fund

Global Diversification— June 30, 2008 (Unaudited)

 

 

 

% of Fund

 

 

 

Equity Value

 

Europe 76.1%

 

 

 

Switzerland

 

24.9

%

United Kingdom

 

15.8

%

Germany

 

10.6

%

France

 

10.5

%

Netherlands

 

3.7

%

Sweden

 

3.3

%

Ireland

 

3.2

%

Spain

 

2.0

%

Italy

 

1.7

%

Finland

 

0.4

%

Asia 16.1%

 

 

 

Japan

 

14.7

%

South Korea

 

1.4

%

Latin America 3.8%

 

 

 

Mexico

 

3.8

%

North America 3.7%

 

 

 

Canada

 

3.7

%

Middle East 0.3%

 

 

 

Israel

 

0.3

%

 



 

OAKMARK INTERNATIONAL FUND

Schedule of Investments—June 30, 2009 (Unaudited)

 

Name

 

Description

 

Shares Held

 

Value

 

Common Stocks—96.6%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advertising—2.9%

 

 

 

 

 

 

 

Publicis Groupe (France) (b)

 

Advertising & Media Services

 

3,056,300

 

$

93,167,983

 

 

 

 

 

 

 

 

 

 

Apparel, Accessories & Luxury Goods—8.7%

 

 

 

 

 

Compagnie Financiere Richemont SA (Switzerland)

 

Manufacturer & Retailer of Luxury Goods

 

5,096,000

 

$

105,901,873

 

Swatch Group AG, Bearer Shares (Switzerland)

 

Watch Manufacturer

 

427,500

 

68,577,838

 

Luxottica Group SpA (Italy) (a)

 

Manufacturer & Retailer of Eyeglass Frames & Sunglasses

 

2,533,015

 

52,910,692

 

LVMH Moet Hennessy Louis Vuitton SA (France)

 

Diversified Luxury Goods Conglomerate

 

659,900

 

50,360,266

 

 

 

 

 

 

 

277,750,669

 

Automobile Manufacturers—7.5%

 

 

 

 

 

 

 

Daimler AG Registered (Germany)

 

Automobile Manufacturer

 

2,638,500

 

$

95,422,545

 

Toyota Motor Corp. (Japan)

 

Automobile Manufacturer

 

1,645,900

 

62,702,579

 

Bayerische Motoren Werke (BMW) AG (Germany)

 

Luxury Automobile Manufacturer

 

1,659,600

 

62,488,043

 

Honda Motor Co., Ltd. (Japan)

 

Automobile & Motorcycle Manufacturer

 

770,400

 

21,272,269

 

 

 

 

 

 

 

241,885,436

 

Broadcasting—6.7%

 

 

 

 

 

 

 

Societe Television Francaise 1 (France)

 

Broadcasting & Cable TV

 

7,127,000

 

$

79,914,862

 

Grupo Televisa SA (Mexico) (c)

 

Television Production & Broadcasting

 

4,285,800

 

72,858,600

 

Gestevision Telecinco SA (Spain)

 

Television Production & Broadcasting

 

6,730,395

 

62,787,499

 

 

 

 

 

 

 

215,560,961

 

Cable & Satellite—2.2%

 

 

 

 

 

 

 

British Sky Broadcasting Group PLC (United Kingdom)

 

Television Production & Broadcasting

 

9,426,300

 

$

70,562,058

 

 

 

 

 

 

 

 

 

Publishing—1.9%

 

 

 

 

 

 

 

Thomson Reuters PLC (Canada)

 

Electronic Information & Solutions Company

 

1,845,400

 

$

52,584,408

 

Johnston Press PLC (United Kingdom) (a)

 

Newspaper Publishing

 

26,926,703

 

8,749,210

 

 

 

 

 

 

 

61,333,618

 

Restaurants—2.0%

 

 

 

 

 

 

 

Sodexo (France)

 

Food and Facilities Management Services

 

788,300

 

$

40,463,638

 

Compass Group PLC (United Kingdom)

 

International Foodservice Group Operator

 

4,427,300

 

24,892,359

 

 

 

 

 

 

 

65,355,997

 

 



 

Name

 

Description

 

Shares Held

 

Value

 

Common Stocks—96.6% (cont.)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Specialty Stores—3.8%

 

 

 

 

 

 

 

Signet Jewelers, Ltd. (United Kingdom) (d)

 

Jewelry Retailer

 

5,765,736

 

$

120,042,623

 

 

 

 

 

 

 

 

 

Distillers & Vintners—2.1%

 

 

 

 

 

 

 

Diageo PLC (United Kingdom)

 

Beverages, Wines, & Spirits Manufacturer

 

4,623,500

 

$

66,291,346

 

 

 

 

 

 

 

 

 

Packaged Foods & Meats—1.4%

 

 

 

 

 

 

 

Nestle SA (Switzerland)

 

Food & Beverage Manufacturer

 

1,190,200

 

$

44,823,509

 

 

 

 

 

 

 

 

 

Soft Drinks—1.4%

 

 

 

 

 

 

 

Fomento Economico Mexicano S.A.B. de C.V. (Mexico) (c)

 

Beverage Company

 

1,410,900

 

$

45,487,416

 

 

 

 

 

 

 

 

 

Oil & Gas Exploration & Production—1.3%

 

 

 

 

 

EnCana Corp. (Canada)

 

Develops, Produces, & Markets Natural Gas

 

882,300

 

$

43,647,381

 

 

 

 

 

 

 

 

 

Asset Management & Custody Banks—2.3%

 

 

 

 

 

Schroders PLC (United Kingdom)

 

International Asset Management

 

5,572,200

 

$

75,218,361

 

 

 

 

 

 

 

 

 

Diversified Banks—3.5%

 

 

 

 

 

 

 

BNP Paribas SA (France)

 

Commercial Bank

 

972,862

 

$

63,121,013

 

Bank of Ireland (Ireland) (a)

 

Commercial Bank

 

20,541,978

 

48,557,146

 

 

 

 

 

 

 

111,678,159

 

Diversified Capital Markets—5.7%

 

 

 

 

 

 

 

UBS AG (Switzerland) (a)

 

Wealth Management & Investment Banking

 

7,726,300

 

$

94,503,269

 

Credit Suisse Group (Switzerland)

 

Wealth Management & Investment Banking

 

1,907,700

 

87,084,736

 

 

 

 

 

 

 

181,588,005

 

Investment Banking & Brokerage—3.4%

 

 

 

 

 

Daiwa Securities Group, Inc. (Japan)

 

Stock Broker

 

18,118,800

 

$

108,146,676

 

 

 

 

 

 

 

 

 

Multi-line Insurance—3.1%

 

 

 

 

 

 

 

Allianz SE Registered (Germany)

 

Insurance, Banking & Financial Services

 

1,089,200

 

$

100,281,546

 

 

 

 

 

 

 

 

 

Pharmaceuticals—4.5%

 

 

 

 

 

 

 

Novartis AG (Switzerland)

 

Pharmaceuticals

 

1,865,400

 

$

75,608,317

 

GlaxoSmithKline PLC (United Kingdom)

 

Pharmaceuticals

 

3,902,900

 

68,608,912

 

 

 

 

 

 

 

144,217,229

 

Building Products—4.0%

 

 

 

 

 

 

 

Assa Abloy AB, Series B (Sweden)

 

Develops, Designs, & Manufactures Security Locks

 

5,872,830

 

$

81,835,109

 

Geberit AG, Registered Shares (Switzerland)

 

Building Products

 

369,300

 

45,408,384

 

 

 

 

 

 

 

127,243,493

 

 



 

Name

 

Description

 

Shares Held

 

Value

 

Common Stocks—96.6% (cont.)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Human Resource & Employment Services—2.7%

 

 

 

 

 

Adecco SA (Switzerland)

 

Temporary Employment Services

 

2,115,400

 

$

88,116,519

 

 

 

 

 

 

 

 

 

Industrial Conglomerates—2.4%

 

 

 

 

 

 

 

Koninklijke (Royal) Philips Electronics NV (Netherlands)

 

Electronics Manufacturer

 

2,079,500

 

$

38,288,577

 

Tyco International, Ltd. (Switzerland)

 

Security Products & Services Provider

 

1,458,800

 

37,899,624

 

 

 

 

 

 

 

76,188,201

 

Industrial Machinery—0.9%

 

 

 

 

 

 

 

Atlas Copco AB, Series B (Sweden)

 

Industrial Equipment Manufacturer

 

2,078,449

 

$

18,791,756

 

Kone OYJ (Finland)

 

Elevator & Escalator Modernization & Maintenance

 

375,300

 

11,493,261

 

 

 

 

 

 

 

30,285,017

 

Marine—1.7%

 

 

 

 

 

 

 

Kuehne + Nagel International AG (Switzerland)

 

Sea, Land, & Rail Freight Transportation Businesses

 

690,300

 

$

54,065,188

 

 

 

 

 

 

 

 

 

Railroads—0.5%

 

 

 

 

 

 

 

Canadian National Railway Co. (Canada)

 

Railroad Transportation

 

402,100

 

$

17,274,216

 

 

 

 

 

 

 

 

 

Research & Consulting Services—2.9%

 

 

 

 

 

Experian Group, Ltd. (Ireland)

 

Credit & Marketing Services

 

6,542,900

 

$

48,897,179

 

Meitec Corp. (Japan) (d)

 

Software Engineering Services

 

2,475,100

 

42,803,930

 

 

 

 

 

 

 

91,701,109

 

Security & Alarm Services—1.7%

 

 

 

 

 

 

 

G4S PLC (United Kingdom)

 

Security Services

 

16,140,300

 

$

55,365,120

 

 

 

 

 

 

 

 

 

Application Software—2.3%

 

 

 

 

 

 

 

SAP AG (Germany)

 

Develops Business Software

 

1,787,700

 

$

71,900,733

 

 

 

 

 

 

 

 

 

Electronic Components—2.2%

 

 

 

 

 

 

 

OMRON Corp. (Japan)

 

Component, Equipment, & System Manufacturer

 

4,952,700

 

$

71,718,654

 

 

 

 

 

 

 

 

 

Electronic Equipment & Instruments—0.3%

 

 

 

 

 

Orbotech, Ltd. (Israel) (a)

 

Optical Inspection Systems

 

1,237,700

 

$

10,706,105

 

 

 

 

 

 

 

 

 

Office Electronics—2.0%

 

 

 

 

 

 

 

Canon, Inc. (Japan)

 

Computers & Information

 

1,952,900

 

$

64,059,418

 

 

 

 

 

 

 

 

 

Semiconductor Equipment—0.7%

 

 

 

 

 

 

 

ASML Holding NV (Netherlands)

 

Develop, Produce & Market Semiconductor Manufacturing Equipment

 

1,016,100

 

$

21,965,954

 

 

 

 

 

 

 

 

 

Semiconductors—4.0%

 

 

 

 

 

 

 

Rohm Co., Ltd. (Japan)

 

Integrated Circuits & Semiconductor Devices Manufacturer

 

1,194,300

 

$

87,153,464

 

 



 

Name

 

Description

 

Shares Held/
Par Value

 

Value

 

Common Stocks—96.6% (cont.)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Semiconductors—4.0% (cont.)

 

 

 

 

 

 

 

Samsung Electronics Co., Ltd. (South Korea)

 

Consumer & Industrial Electronic Equipment Manufacturer

 

91,000

 

$

42,287,374

 

 

 

 

 

 

 

129,440,838

 

Diversified Chemicals—1.7%

 

 

 

 

 

 

 

Akzo Nobel NV (Netherlands)

 

Produces & Markets Chemicals, Coatings, & Paints

 

1,255,300

 

$

55,224,853

 

 

 

 

 

 

 

 

 

Specialty Chemicals—2.2%

 

 

 

 

 

 

 

Givaudan SA (Switzerland)

 

Manufactures & Markets Fragrances

 

116,599

 

$

71,415,613

 

 

 

 

 

 

 

 

 

Total Common Stocks (Cost: $3,680,811,621)

 

 

 

3,103,710,004

 

 

 

 

 

 

 

 

 

Short Term Investment—2.2%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Repurchase Agreement—2.2%

 

 

 

 

 

 

 

Fixed Income Clearing Corp. Repurchase Agreement, 0.03% dated 6/30/2009 due 7/1/2009, repurchase price $69,426,312, collateralized by a Federal Home Loan Bank Bond, with a rate of 0.800%, with a maturity of 4/30/2010, and with a market value plus accrued interest of $34,523,981, and by a Federal National Mortgage Association Bond, with a rate of 5.125%, with a maturity of 1/2/2014, and with a market value plus accrued interest of $36,291,188

 

$

69,426,254

 

$

69,426,254

 

 

 

 

 

 

 

 

 

Total Repurchase Agreement (Cost: $69,426,254)

 

 

 

69,426,254

 

 

 

 

 

 

 

 

 

Total Short Term Investment (Cost: $69,426,254)

 

 

 

69,426,254

 

 

 

 

 

 

 

 

 

Total Investments (Cost: $3,750,237,875)—98.8%

 

 

 

$

3,173,136,258

 

 

 

 

 

 

 

 

 

Foreign Currencies (Cost: $1,102,071)—0.1%

 

 

 

$

1,108,190

 

Other Assets In Excess of Liabilities—1.1%

 

 

 

36,659,122

 

 

 

 

 

 

 

 

 

Total Net Assets—100%

 

 

 

 

 

$

3,210,903,570

 

 


(a)

Non income-producing security.

(b)

A portion of security out on loan.

(c)

Represents an American Depositary Receipt.

(d)

See note number two in the Notes to Schedule of Investments regarding investments in affiliated issuers.

 



 

The Oakmark International Small Cap Fund

Global Diversification—June 30, 2009 (Unaudited)

 

 

 

% of Fund

 

 

 

Equity Value

 

Europe 71.7%

 

 

 

United Kingdom

 

22.7

%

Germany

 

14.5

%

Switzerland

 

10.6

%

France

 

8.0

%

Italy

 

5.6

%

Norway

 

3.8

%

Netherlands

 

3.3

%

Greece

 

2.7

%

Sweden

 

0.5

%

Asia 16.6%

 

 

 

Japan

 

11.9

%

Malaysia

 

3.2

%

Philippines

 

1.0

%

South Korea

 

0.5

%

Australasia 6.6%

 

 

 

Australia

 

4.6

%

New Zealand

 

2.0

%

Middle East 2.3%

 

 

 

Israel

 

2.3

%

North America 1.5%

 

 

 

Canada

 

1.5

%

Latin America 1.3%

 

 

 

Brazil

 

1.1

%

Mexico

 

0.2

%

 



 

OAKMARK INTERNATIONAL SMALL CAP FUND

Schedule of Investments—June 30, 2009 (Unaudited)

 

Name

 

Description

 

Shares Held

 

Value

 

Common Stocks—94.2%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advertising—1.9%

 

 

 

 

 

 

 

Asatsu-DK, Inc. (Japan)

 

Advertising Services Provider

 

482,300

 

$

10,914,144

 

 

 

 

 

 

 

 

 

Apparel, Accessories & Luxury Goods—2.2%

 

 

 

 

 

Bulgari SpA (Italy)

 

Jewelry Manufacturer & Retailer

 

2,324,400

 

$

12,423,582

 

 

 

 

 

 

 

 

 

Automotive Retail—0.8%

 

 

 

 

 

 

 

USS Co., Ltd. (Japan)

 

Used Car Auction Facility Manager

 

87,700

 

$

4,524,514

 

 

 

 

 

 

 

 

 

Broadcasting—8.0%

 

 

 

 

 

 

 

Media Prima Berhad (Malaysia) (b)

 

Film Producer & Sports Promoter

 

48,390,700

 

$

16,657,965

 

Ten Network Holdings, Ltd. (Australia)

 

Operates Commercial Television Stations

 

17,386,037

 

16,391,309

 

M6 Metropole Television (France)

 

Television Entertainment Channel Owner & Operator

 

608,000

 

11,497,527

 

 

 

 

 

 

 

44,546,801

 

Home Furnishing Retail—2.6%

 

 

 

 

 

 

 

Beter Bed Holding NV (Netherlands)

 

Bedroom Furniture Retailer

 

936,070

 

$

11,406,151

 

Fourlis Holdings SA (Greece)

 

Wholesales Electric & Electronic Appliances

 

232,700

 

3,019,598

 

 

 

 

 

 

 

14,425,749

 

Home Improvement Retail—2.2%

 

 

 

 

 

 

 

Carpetright PLC (United Kingdom)

 

Carpet Retailer

 

1,306,400

 

$

12,057,510

 

 

 

 

 

 

 

 

 

Household Appliances—0.2%

 

 

 

 

 

 

 

Rational AG (Germany)

 

Manufactures & Markets Food Preparation Appliances

 

10,941

 

$

1,258,583

 

 

 

 

 

 

 

 

 

Movies & Entertainment—0.8%

 

 

 

 

 

 

 

CTS Eventim AG (Germany)

 

Entertainment Tickets Producer & Distributor

 

109,078

 

$

4,417,687

 

 

 

 

 

 

 

 

 

Photographic Products—2.2%

 

 

 

 

 

 

 

Vitec Group PLC (United Kingdom) (b)

 

Photo Equipment & Supplies

 

2,812,479

 

$

12,030,432

 

 

 

 

 

 

 

 

 

Publishing—0.9%

 

 

 

 

 

 

 

Tamedia AG (Switzerland)

 

TV Broadcasting & Publishing

 

98,151

 

$

4,787,633

 

 

 

 

 

 

 

 

 

Specialty Stores—1.4%

 

 

 

 

 

 

 

JJB Sports PLC (United Kingdom) (b)

 

Sportswear & Sports Equipment Retailer

 

15,322,680

 

$

8,003,815

 

 

 

 

 

 

 

 

 

Textiles—0.8%

 

 

 

 

 

 

 

Chargeurs SA (France) (a), (b)

 

Wool, Textile Production & Trading

 

772,682

 

$

4,444,221

 

 

 

 

 

 

 

 

 

Household Products—0.2%

 

 

 

 

 

 

 

Kimberly-Clark de Mexico S.A.B. de C.V. (Mexico)

 

Hygiene Products Manufacturer, Marketer & Distributor

 

250,000

 

$

958,366

 

 



 

Name

 

Description

 

Shares Held

 

Value

 

Common Stocks—94.2% (cont.)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Packaged Foods & Meats—2.6%

 

 

 

 

 

 

 

Goodman Fielder, Ltd. (Australia)

 

Produces Food Products

 

6,379,300

 

$

6,708,273

 

Alaska Milk Corp. (Philippines) (b)

 

Milk Producer

 

56,360,000

 

5,152,914

 

Binggrae Co., Ltd. (South Korea)

 

Dairy Products Manufacturer

 

83,380

 

2,879,799

 

 

 

 

 

 

 

14,740,986

 

Soft Drinks—1.2%

 

 

 

 

 

 

 

Britvic PLC (United Kingdom)

 

Soft Drink Manufacturer & Marketer

 

1,420,000

 

$

6,517,951

 

 

 

 

 

 

 

 

 

Asset Management & Custody Banks—5.9%

 

 

 

 

 

Julius Baer Holding AG (Switzerland)

 

Asset Management

 

546,100

 

$

21,199,667

 

MLP AG (Germany)

 

Asset Management

 

949,070

 

11,516,628

 

 

 

 

 

 

 

32,716,295

 

Investment Banking & Brokerage—2.3%

 

 

 

 

 

Ichiyoshi Securities Co., Ltd. (Japan)

 

Stock Broker

 

1,578,800

 

$

13,127,304

 

D. Carnegie & Co. AB (Sweden) (c)

 

Diversified Financials Services

 

2,314,000

 

0

 

 

 

 

 

 

 

13,127,304

 

Life & Health Insurance—0.5%

 

 

 

 

 

 

 

Amil Participacoes SA (Brazil)

 

Provides Health Insurance & Related Services

 

569,600

 

$

2,746,986

 

 

 

 

 

 

 

 

 

Real Estate Services—3.7%

 

 

 

 

 

 

 

LSL Property Services PLC (United Kingdom) (a) (b)

 

Residential Property Service Provider

 

8,839,727

 

$

20,396,719

 

 

 

 

 

 

 

 

 

Health Care Supplies—0.2%

 

 

 

 

 

 

 

Ansell, Ltd. (Australia)

 

Manufactures Latex

 

190,300

 

$

1,344,824

 

 

 

 

 

 

 

 

 

Life Sciences Tools & Services—1.4%

 

 

 

 

 

 

 

MDS, Inc. (Canada) (a)

 

Products & Services for Medical Product Manufacturing

 

1,474,300

 

$

7,744,464

 

 

 

 

 

 

 

 

 

Air Freight & Logistics—3.4%

 

 

 

 

 

 

 

Freightways, Ltd. (New Zealand) (b)

 

Express Package Services

 

5,657,300

 

$

10,329,754

 

Panalpina Welttransport Holding AG (Switzerland)

 

Freight Shipping & Supply Chain Management Services

 

115,500

 

8,392,366

 

 

 

 

 

 

 

18,722,120

 

Airport Services—3.3%

 

 

 

 

 

 

 

BBA Aviation PLC (United Kingdom)

 

Flight Support & Aftermarket Services & Systems Provider

 

9,723,300

 

$

18,236,316

 

 

 

 

 

 

 

 

 

Building Products—1.3%

 

 

 

 

 

 

 

Kaba Holding AG (Switzerland)

 

Provides Mechanical & Electronic Security Systems

 

37,686

 

$

7,006,187

 

 

 

 

 

 

 

 

 

Human Resource & Employment Services—6.6%

 

 

 

 

 

Pasona Group, Inc. (Japan) (b)

 

Placement Service Provider

 

23,842

 

$

16,606,615

 

 



 

Name

 

Description

 

Shares Held

 

Value

 

Common Stocks—94.2% (cont.)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Human Resource & Employment Services—6.6% (cont.)

 

 

 

 

 

Michael Page International PLC (United Kingdom)

 

Recruitment Consultancy Services

 

2,828,700

 

$

11,087,621

 

Robert Walters PLC (United Kingdom)

 

International Recruitment Company

 

3,787,900

 

9,067,344

 

 

 

 

 

 

 

36,761,580

 

Industrial Conglomerates—4.0%

 

 

 

 

 

 

 

Rheinmetall AG (Germany)

 

Automotive Pump Manufacturer

 

388,900

 

$

16,830,774

 

Tomkins PLC (United Kingdom)

 

International Manufacturing

 

2,250,400

 

5,479,489

 

 

 

 

 

 

 

22,310,263

 

Industrial Machinery—9.6%

 

 

 

 

 

 

 

Interpump Group SpA (Italy) (a)

 

Pump & Piston Manufacturer

 

3,538,700

 

$

17,126,705

 

Duerr AG (Germany)

 

Automotive Industry Machinery Manufacturer

 

691,800

 

11,112,123

 

IMI PLC (United Kingdom)

 

Manufactures Merchandise Displays, Ventilation & Air Conditioning Equipment

 

2,056,000

 

10,545,038

 

GEA Group AG (Germany)

 

Engineering Services Provider

 

346,500

 

5,244,882

 

Bobst Group AG (Switzerland) (a)

 

Manufactures Printing Presses & Packaging Producing Machinery

 

185,800

 

5,215,499

 

Schindler Holding AG (Switzerland)

 

Manufactures & Installs Elevators, Escalators, & Moving Walkways Internationally

 

72,100

 

4,475,767

 

 

 

 

 

 

 

53,720,014

 

Office Services & Supplies—2.8%

 

 

 

 

 

 

 

Sperian Protection (France)

 

Manufactures Protection Equipment For People In Hazardous Work Environments

 

279,500

 

$

15,742,668

 

 

 

 

 

 

 

 

 

Research & Consulting Services—0.5%

 

 

 

 

 

Cision AB (Sweden) (a)

 

Business & Communication Intelligence

 

3,139,100

 

$

2,888,998

 

 

 

 

 

 

 

 

 

Application Software—1.0%

 

 

 

 

 

 

 

Exact Holding N.V. (Netherlands)

 

Develops & Markets Business Software

 

236,515

 

$

5,723,462

 

 

 

 

 

 

 

 

 

Communications Equipment—0.1%

 

 

 

 

 

 

 

Raymarine PLC (United Kingdom) (b)

 

Leisure Marine Electronics Products

 

4,093,379

 

$

791,295

 

 

 

 

 

 

 

 

 

Computer Hardware—2.1%

 

 

 

 

 

 

 

Wincor Nixdorf AG (Germany)

 

Banking Machines & Cash Registers Manufacturer

 

209,200

 

$

11,703,825

 

 

 

 

 

 

 

 

 

Electronic Components—0.3%

 

 

 

 

 

 

 

Hirose Electric Co., Ltd. (Japan)

 

Develops & Sells Electronic Equipment

 

16,400

 

$

1,753,464

 

 



 

Name

 

Description

 

Shares Held/
Par Value

 

Value

 

Common Stocks—94.2% (cont.)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Electronic Equipment & Instruments—3.0%

 

 

 

 

 

Orbotech, Ltd. (Israel) (a)

 

Optical Inspection Systems

 

1,395,300

 

$

12,069,345

 

Domino Printing Sciences PLC (United Kingdom)

 

Printing Equipment

 

1,107,990

 

4,598,176

 

 

 

 

 

 

 

16,667,521

 

Home Entertainment Software—1.3%

 

 

 

 

 

 

 

Square Enix Holdings Co., Ltd. (Japan)

 

Develops & Sells Entertainment Software for Video Game Consoles

 

301,000

 

$

7,077,023

 

 

 

 

 

 

 

 

 

IT Consulting & Other Services—3.6%

 

 

 

 

 

Atea ASA (Norway)

 

Management & IT Consulting Services

 

4,756,100

 

$

19,748,819

 

 

 

 

 

 

 

 

 

Office Electronics—2.4%

 

 

 

 

 

 

 

Neopost SA (France) (d)

 

Mailroom Equipment Supplier

 

118,000

 

$

10,595,145

 

Boewe Systec AG (Germany) (a)

 

Automated Paper Management Systems Producer

 

285,039

 

2,479,173

 

 

 

 

 

 

 

13,074,318

 

Systems Software—0.6%

 

 

 

 

 

 

 

Totvs SA (Brazil)

 

Develops & Markets Software Solutions

 

90,200

 

$

3,077,249

 

Monitise PLC (United Kingdom) (a), (b)

 

Mobile Banking Service Solutions

 

3,061,088

 

333,642

 

 

 

 

 

 

 

3,410,891

 

Construction Materials—2.0%

 

 

 

 

 

 

 

Titan Cement Co. SA (Greece)

 

Cement & Building Materials Producer & Distributor

 

418,190

 

$

11,029,161

 

 

 

 

 

 

 

 

 

Specialty Chemicals—4.3%

 

 

 

 

 

 

 

Symrise AG (Germany)

 

Diversified Chemical Manufacturer

 

770,500

 

$

11,371,018

 

Taiyo Ink Manufacturing Co., Ltd. (Japan)

 

Manufactures & Sells Resist Inks

 

374,900

 

8,308,626

 

Sika AG (Switzerland)

 

Manufactures Construction Materials

 

3,950

 

4,384,244

 

 

 

 

 

 

 

24,063,888

 

 

 

 

 

 

 

 

 

Total Common Stocks (Cost: $768,624,473)

 

 

 

524,560,379

 

 

 

 

 

 

 

 

 

Short Term Investment—3.9%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Repurchase Agreement—3.9%

 

 

 

 

 

 

 

Fixed Income Clearing Corp. Repurchase Agreement, 0.03% dated 6/30/2009 due 7/1/2009, repurchase price $22,183,575, collateralized by a Federal Home Loan Bank Bond, with a rate of 1.100%, with a maturity of 3/30/2010, and with a market value plus accrued interest of $22,628,450

 

$

22,183,557

 

$

22,183,557

 

 

 

 

 

 

 

 

 

Total Repurchase Agreement (Cost: $22,183,557)

 

 

 

22,183,557

 

 

 

 

 

 

 

 

 

Total Short Term Investment (Cost: $22,183,557)

 

 

 

22,183,557

 

 

 

 

 

 

 

 

 

Total Investments (Cost: $790,808,030)—98.1%

 

 

 

$

546,743,936

 

 

 

 

 

 

 

 

 

Foreign Currencies (Cost: $291,849)—0.1%

 

 

 

$

289,795

 

Other Assets In Excess of Liabilities—1.8%

 

 

 

9,883,340

 

 

 

 

 

 

 

 

 

Total Net Assets—100%

 

 

 

 

 

$

556,917,071

 

 



 


(a)

Non income-producing security.

(b)

See note number two in the Notes to Schedule of Investments regarding investments in affiliated issuers.

(c)

Market value is determined in good faith in accordance with procedures established by the Board of Trustees.

(d)

A portion of security out on loan.

 



 

THE OAKMARK FUNDS

 

Notes to Schedules of Investments (Unaudited)

 

1.  SIGNIFICANT ACCOUNTING POLICIES

 

Harris Associates Investment Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an investment company organized as a Massachusetts business trust, organized on February 1, 1991.  The Trust consists of the following series (each individually referred to as “a Fund” or collectively as “the Funds”): Oakmark Fund (“Oakmark”), Oakmark Select Fund (“Select”), Oakmark Equity and Income Fund (“Equity and Income”), Oakmark Global Fund (“Global”), Oakmark Global Select Fund (“Global Select”), Oakmark International Fund (“International”), and Oakmark International Small Cap Fund (“Int’l Small Cap”).  Each Fund other than Select and Global Select is diversified.

 

Security valuation —

 

The Funds’ share prices or net asset values (“NAVs”) are calculated as of the close of regular session trading (usually 4:00 pm Eastern time) on the New York Stock Exchange (“NYSE”) on any day on which the NYSE is open for trading.  Equity securities principally traded on securities exchanges in the United States and over-the-counter securities are valued at the last sales price or the official closing price on the day of valuation, or lacking any reported sales that day, at the most recent bid quotation.  Securities traded on the NASDAQ National Market are valued at the NASDAQ Official Closing Price (“NOCP”), or lacking an NOCP, at the most recent bid quotation on the NASDAQ National Market.  Equity securities principally traded on securities exchanges outside the United States shall be valued, depending on local convention or regulation, at the last sales price, the last bid or asked price, the mean between the last bid and asked prices, or the official closing price, or shall be based on a pricing composite as of the close of the regular trading hours on the appropriate exchange or other designated time.  Debt obligations and money market instruments maturing in more than 60 days from the date of purchase are valued at the latest bid quotation. Debt obligations and money market instruments maturing in less than 61 days from the date of purchase are valued on an amortized cost basis, which approximates value. Options are valued at the last reported sales price on the day of valuation or, lacking any reported sale price on the valuation date, at the mean of the most recent bid and asked quotations or, if the mean is not available, at the most recent bid quotation.

 

Securities for which quotations are not readily available or securities that may have been affected by a significant event occurring between the close of a foreign market and the close of the NYSE are valued at fair values, determined by or under the direction of the pricing committee established by the Board of Trustees.  A significant event may include the performance of U.S. markets since the close of foreign markets.  The Funds may use a systematic fair valuation model provided by an independent third party to value foreign securities in order to adjust for stale pricing, which may occur between the close of certain foreign exchanges and the NYSE.   At June 30, 2009, Equity and Income and Int’l Small Cap held securities for which market quotations were not readily available and were valued by the pricing committee at a fair value determined in good faith in accordance with procedures established by the Board of Trustees.

 

The Funds adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, Fair Value Measurements (“SFAS 157”), effective October 1, 2008.  Under SFAS 157, various inputs are used in determining the value of each Fund’s investments.  These inputs are prioritized into three broad levels as follows:

 

Level 1 — quoted prices in active markets for identical securities

Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, and others)

 



 

Level 3 — significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

 

Observable inputs are those based on market data obtained from independent sources, and unobservable inputs reflect the Funds’ own assumptions based on the best information available.  The input levels are not necessarily an indication of risk or liquidity associated with investing in those securities.

 

The following is a summary of the inputs used as of June 30, 2009, in valuing each Fund’s assets and liabilities.  Except for the industries or investment types separately stated below, the total amounts for Common Stocks, Fixed Income and Short Term Investments in the table below are presented by industry or investment type in each Fund’s Schedule of Investments.  Forward Foreign Currency Contracts are presented by contract in the notes following this summary:

 

 

 

Quoted Prices

 

 

 

 

 

 

 

in Active

 

Significant

 

 

 

 

 

Markets for

 

Other

 

Significant

 

 

 

Identical

 

Observable

 

Unobservable

 

 

 

Assets

 

Inputs

 

Inputs

 

 

 

(Level 1)

 

(level 2)

 

(Level 3)

 

Oakmark

 

 

 

 

 

 

 

Common Stocks

 

$

2,579,091,873

 

$

0

 

$

0

 

Short Term Investments

 

0

 

147,352,747

 

0

 

Total

 

$

2,579,091,873

 

$

147,352,747

 

$

0

 

 

 

 

 

 

 

 

 

Select

 

 

 

 

 

 

 

Common Stocks

 

$

1,886,705,288

 

$

0

 

$

0

 

Short Term Investments

 

0

 

90,015,333

 

0

 

Total

 

$

1,886,705,288

 

$

90,015,333

 

$

0

 

 

 

 

 

 

 

 

 

Equity and Income

 

 

 

 

 

 

 

Common Stocks - Packaged Food & Meats

 

$

325,901,222

 

$

348,000,996

 

$

0

 

Common Stocks - All Other

 

6,982,151,522

 

0

 

0

 

Fixed Income

 

0

 

5,465,853,126

 

0

 

Short Term Investments

 

0

 

629,293,211

 

0

 

Total

 

$

7,308,052,744

 

$

6,443,147,333

 

$

0

 

 

 

 

 

 

 

 

 

Global

 

 

 

 

 

 

 

Common Stocks

 

$

1,399,945,150

 

$

0

 

$

0

 

Short Term Investments

 

0

 

18,863,980

 

0

 

Forward Foreign Currency Contracts

 

(776,970

)

0

 

0

 

Total

 

$

1,399,168,180

 

$

18,863,980

 

$

0

 

 

 

 

 

 

 

 

 

Global Select

 

 

 

 

 

 

 

Common Stocks

 

$

219,283,987

 

$

0

 

$

0

 

Short Term Investments

 

0

 

10,634,778

 

0

 

Forward Foreign Currency Contracts

 

(105,891

)

0

 

0

 

Total

 

$

219,178,096

 

$

10,634,778

 

$

0

 

 

 

 

 

 

 

 

 

International

 

 

 

 

 

 

 

Common Stocks

 

$

3,103,710,004

 

$

0

 

$

0

 

Short Term Investments

 

0

 

69,426,254

 

0

 

Forward Foreign Currency Contracts

 

(1,687,167

)

0

 

0

 

Total

 

$

3,102,022,837

 

$

69,426,254

 

$

0

 

 

 

 

 

 

 

 

 

Int’l Small Cap +

 

 

 

 

 

 

 

Common Stocks

 

$

524,560,379

 

$

0

 

$

0

 

Short Term Investments

 

0

 

22,183,557

 

0

 

Forward Foreign Currency Contracts

 

14,283

 

0

 

0

 

Total

 

$

524,574,662

 

$

22,183,557

 

$

0

 

 



 


+ On September 30, 2008, Int’l Small Cap did not hold any securities classified as Level 3, and for the 9-month period ending June 30, 2009, the Fund had no purchases or sales of Level 3 securities. During the 9-month period ending June 30, 2009, a common stock within the Investment Banking and Brokerage category was transferred into the Level 3 with a market value of zero and remained at that value on June 30, 2009.

 

Foreign currency translations —

 

Certain Funds invest in foreign securities, which may involve a number of risk factors and special considerations not present with investments in securities of U.S. corporations. Values of investments and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars at current exchange rates obtained by a recognized bank, dealer, or independent pricing service on the day of valuation.  Purchases and sales of investments and dividend and interest income are converted at the prevailing rate of exchange on the respective dates of such transactions.  Forward foreign currency contracts are valued at the current day’s interpolated foreign exchange rates.

 

The Funds do not isolate that portion of the results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising from changes in market prices of securities held.  Such fluctuations are included in the net realized and unrealized gains and losses from securities.

 

Net realized gains and losses on foreign currency transactions arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, the difference between the amounts of dividends, interest, and foreign withholding taxes recorded and the U.S. dollar equivalent of the amounts actually received or paid, and the realized gains or losses resulting from portfolio and transaction hedges. Net unrealized foreign exchange gains and losses arise from changes in the fair value of assets and liabilities, other than investments in securities, at quarter end resulting from changes in exchange rates.

 

Forward foreign currency contracts—

 

The Funds’ currency transactions are limited to transaction hedging and portfolio hedging. The contractual amounts of forward foreign currency contracts do not necessarily represent the amounts potentially subject to risk.  The measurement of the risks associated with these instruments is meaningful only when all related and offsetting transactions are considered.  Risks arise from the possible inability of counterparties to meet the terms of their contracts and from movements in currency values.  At June 30, 2009, Global, Global Select, International, and Int’l Small Cap held forward foreign currency contracts as follows:

 

Oakmark Global Fund

 

 

 

Contract
Amount

 

Settlement
Date

 

Valuation at
6/30/09

 

Unrealized
Appreciation/
(Depreciation)

 

 

 

 

 

 

 

 

 

 

 

Foreign Currency Sold:

 

 

 

 

 

 

 

 

 

Japanese Yen

 

2,585,000,000

 

03/03/10

 

$

 26,936,453

 

$

 (139,725

)

Swiss Franc

 

23,300,000

 

03/03/10

 

21,538,805

 

(1,343,789

)

Swiss Franc

 

37,700,000

 

06/04/10

 

34,933,464

 

706,544

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 83,408,722

 

$

 (776,970

)

 



 

Oakmark Global Select Fund

 

 

 

Contract
Amount

 

Settlement
Date

 

Valuation at
06/30/09

 

Unrealized
Appreciation/
(Depreciation)

 

 

 

 

 

 

 

 

 

 

 

Foreign Currency Sold:

 

 

 

 

 

 

 

 

 

Japanese Yen

 

273,000,000

 

03/03/10

 

$

 2,844,740

 

$

 (14,756

)

Swiss Franc

 

3,850,000

 

03/03/10

 

3,558,987

 

(222,042

)

Swiss Franc

 

6,985,000

 

06/04/10

 

6,472,420

 

130,907

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 12,876,147

 

$

 (105,891

)

 

Oakmark International Fund

 

 

 

Contract
Amount

 

Settlement
Date

 

Valuation at
06/30/09

 

Unrealized
Appreciation/
(Depreciation)

 

 

 

 

 

 

 

 

 

 

 

Foreign Currency Sold:

 

 

 

 

 

 

 

 

 

Japanese Yen

 

5,250,000,000

 

03/03/10

 

$

 54,706,529

 

$

 (283,774

)

Swiss Franc

 

67,000,000

 

03/03/10

 

61,935,621

 

(3,864,115

)

Swiss Franc

 

131,300,000

 

06/04/10

 

121,664,822

 

2,460,722

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 238,306,972

 

$

 (1,687,167

)

 

Oakmark Int’l Small Cap Fund

 

 

 

Contract
Amount

 

Settlement
Date

 

Valuation at
6/30/09

 

Unrealized
Appreciation/
(Depreciation)

 

 

 

 

 

 

 

 

 

 

 

Foreign Currency Sold:

 

 

 

 

 

 

 

 

 

Japanese Yen

 

572,000,000

 

03/03/10

 

5,960,407

 

(30,918

)

Swiss Franc

 

2,950,000

 

03/03/10

 

2,727,016

 

(170,136

)

Swiss Franc

 

11,490,000

 

06/04/10

 

10,646,830

 

215,337

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 19,334,253

 

$

 14,283

 

 

Short sales —

 

Each Fund may sell “short” a security it does not own in anticipation of a decline in the value of that security. When the Fund sells a security short, it must borrow the security sold short and deliver it to the broker-dealer through which it made the short sale. A gain, limited to the price at which the Fund sold the security short, or loss, unlimited in size, will be recognized upon the termination of the short sale. At June 30, 2009, none of the Funds had short sales.

 



 

Repurchase agreements —

 

Each Fund may invest in repurchase agreements, which are short-term investments whereby the Fund acquires ownership of a debt security and the seller agrees to repurchase the security at a future date at a specified price.

 

The Fund’s custodian receives delivery of the underlying securities collateralizing repurchase agreements.  It is the Funds’ policy that the value of the collateral be at least equal to 102% of the repurchase price, including interest. Harris Associates L.P. (“the Adviser”) is responsible for determining that the value of the collateral is at all times at least equal to 102% of the repurchase price, including interest.  Repurchase agreements could involve certain risks in the event of default or insolvency of the counterparty including possible delays or restrictions upon a Fund’s ability to dispose of the underlying securities.

 

Security lending —

 

Each Fund, except Oakmark, may lend its portfolio securities to broker-dealers and banks. Any such loan must be continuously secured by collateral in cash or cash equivalents maintained on a current basis in an amount at least equal to the fair value of the securities loaned by the Fund. Collateral is marked to market and monitored daily. The Fund would continue to receive the equivalent of the interest or dividends paid by the issuer on the securities loaned, and would also receive an additional return that may be in the form of a fixed fee or a percentage of the earnings on the collateral. The Fund would have the right to call the loan and attempt to obtain the securities loaned at any time on notice of not more than five business days. In the event of bankruptcy or other default of the borrower, the Fund could experience delays in liquidating the loan collateral or recovering the loaned securities and incur expenses related to enforcing its rights. In addition, there could be a decline in the value of the collateral or in the fair value of the securities loaned while the Fund seeks to enforce its rights thereto and the Fund could experience subnormal levels of income or lack of access to income during that period.

 

At June 30, 2009, Global, International and Int’l Small Cap had securities on loan with a value of $56,037,199, $6,865,490, and $9,886,347 respectively, and held as collateral for the loans U.S. Treasury securities with a value of $60,103,995, $7,406,438 and $10,685,446 respectively.

 

Restricted securities —

 

The following investments, the sales of which are restricted to qualified institutional buyers, have been valued according to the securities valuation procedures for debt obligations and money market instruments (as stated in the Security valuation section) since their acquisition dates. These securities are priced using market quotations and there are no unrestricted securities with the same maturity dates and yields for the issuer.

 

At June 30, 2009, Equity and Income held the following restricted securities:

 

Quantity

 

Security
Name

 

Acquisition
Date

 

Carrying
Value

 

Cost

 

Value

 

Percentage of
Net Asset
s

 

$

 3,000,000

 

Sealed Air Corporation, 144A, 5.625% due 7/15/2013

 

6/27/2003

 

90.4307

 

100.68

 

2,712,921

 

0.02

%

3,955,000

 

Sealed Air Corporation, 144A, 5.625% due 7/15/2013

 

8/20/2003

 

90.4307

 

96.41

 

3,576,534

 

0.03

%

300,000

 

Sealed Air Corporation, 144A, 5.625% due 7/15/2013

 

8/21/2003

 

90.4307

 

96.79

 

271,292

 

0.00

%

11,700,000

 

Sealed Air Corporation, 144A, 5.625% due 7/15/2013

 

4/6/2004

 

90.4307

 

103.31

 

10,580,392

 

0.08

%

 

 

 

 

 

 

 

 

 

 

17,141,139

 

0.13

%

 



 

2. INVESTMENTS IN AFFILIATED ISSUERS

 

An issuer in which a Fund’s ownership represents 5% or more of the outstanding voting securities of the issuer is an affiliated issuer as defined under the Investment Company Act of 1940.  A schedule of each Fund’s investments in securities of affiliated issuers for the quarter ended June 30, 2009, is set forth below:

 

Schedule of Transactions with Affiliated Issuers

Oakmark Equity and Income Fund

 

 

 

 

 

Purchases

 

Sales

 

Dividend

 

Value

 

Affiliates

 

Shares Held

 

(Cost)

 

(Proceeds)

 

Income

 

June 30, 2009

 

 

 

 

 

 

 

 

 

 

 

 

 

EchoStar Corp.+

 

4,787,600

 

$

18,201,426

 

$

1,752,316

 

$

0

 

$

76,314,344

 

Hospira, Inc.+ *

 

7,816,500

 

44,398,550

 

5,798,600

 

0

 

301,091,580

 

Mueller Water Products, Inc., Class A *

 

2,442,700

 

0

 

7,450,572

 

252,747

 

9,135,698

 

Walter Energy, Inc.

 

3,028,900

 

24,289,114

 

1,786,743

 

4,906,718

 

109,767,336

 

Walter Investment Management Corp. +

 

1,106,195

 

0

 

176,805

 

0

 

14,690,270

 

TOTALS

 

 

 

$

86,889,090

 

$

16,965,036

**

$

5,159,465

 

$

510,999,228

 

 

Schedule of Transactions with Affiliated Issuers

Oakmark International Fund

 

 

 

 

 

Purchases

 

Sales

 

Dividend

 

Value

 

Affiliates

 

Shares Held

 

(Cost)

 

(Proceeds)

 

Income

 

June 30, 2009

 

 

 

 

 

 

 

 

 

 

 

 

 

Meitec Corp.

 

2,475,100

 

$

0

 

$

229,249

 

$

702,359

 

$

42,803,930

 

Signet Jewelers, Ltd.

 

5,765,736

 

13,630,664

 

18,964,692

 

0

 

120,042,623

 

TOTALS

 

 

 

$

13,630,664

 

$

19,193,941

 

$

702,359

 

$

162,846,553

 

 

Schedule of Transactions with Affiliated Issuers

Oakmark Int’l Small Cap Fund

 

 

 

 

 

Purchases

 

Sales

 

Dividend

 

Value

 

Affiliates

 

Shares Held

 

(Cost)

 

(Proceeds)

 

Income

 

June 30, 2009

 

 

 

 

 

 

 

 

 

 

 

 

 

Alaska Milk Corp.

 

56,360,000

 

$

0

 

$

0

 

$

232,690

 

$

5,152,914

 

Chargeurs SA +

 

772,682

 

0

 

181,363

 

0

 

4,444,221

 

Freightways Ltd.*

 

5,657,300

 

366,461

 

3,560,306

 

270,171

 

10,329,754

 

JJB Sports PLC

 

15,322,680

 

1,853,290

 

1,113,161

 

0

 

8,003,815

 

LSL Property Services PLC+

 

8,839,727

 

0

 

2,460,643

 

0

 

20,396,719

 

Media Prima Berhad

 

48,390,700

 

8,619,352

 

4,068,361

 

869,481

 

16,657,965

 

Monitise PLC+*

 

3,061,088

 

0

 

2,078,632

 

0

 

333,642

 

Pasona Group, Inc.

 

23,842

 

0

 

2,451,835

 

150,240

 

16,606,615

 

Raymarine PLC

 

4,093,379

 

0

 

0

 

0

 

791,295

 

Vitec Group PLC

 

2,812,479

 

0

 

0

 

445,646

 

12,030,432

 

TOTALS

 

 

 

$

10,839,103

 

$

15,914,301

 

$

1,968,228

 

$

94,747,372

 

 



 


+Non-income producing security.

* Due to transactions during the period ended June 30, 2009, the company is no longer an affiliated security.

** Includes proceeds from in-kind transactions of $9,744,232

 

3. FEDERAL INCOME TAXES

 

At June 30, 2009, cost of investments for federal income tax purposes and related composition of unrealized gains and losses for each fund were as follows:

 

 

 

Cost of Investments

 

 

 

 

 

Net Unrealized

 

 

 

for Federal Income

 

Gross Unrealized

 

Gross Unrealized

 

Appreciation

 

Fund

 

Tax Purposes

 

Appreciation

 

(Depreciation)

 

(Depreciation)

 

 

 

 

 

 

 

 

 

 

 

Oakmark

 

$

 2,332,203,209

 

$

 454,059,274

 

$

 (59,817,863

)

$

 394,241,411

 

Select

 

1,880,610,998

 

470,797,969

 

(374,688,346

)

96,109,623

 

Equity and Income

 

13,258,204,783

 

1,087,887,989

 

(594,892,695

)

492,995,294

 

Global

 

1,701,436,888

 

157,724,665

 

(440,352,423

)

(282,627,758

)

Global Select

 

261,942,210

 

23,220,469

 

(55,243,914

)

(32,023,445

)

International

 

3,804,829,117

 

218,636,423

 

(850,329,282

)

(631,692,859

)

Int’l Small Cap

 

802,700,992

 

31,516,838

 

(287,473,894

)

(255,957,056

)

 

4.  SUBSEQUENT EVENT

 

In accordance with the provisions set forth in FASB Statement of Financial Accounting Standards No. 165 “Subsequent Events”, adopted by the Funds as of June 30, 2009, management has evaluated the possibility of subsequent events existing in the Funds’ schedule of investments through August 28, 2009. Management has determined that there are no material events that would require disclosure in the Funds’ Schedule of Investments through this date.

 



 

Item 2. Controls and Procedures.

 

(a) The Registrant’s principal executive and principal financial officers have concluded, based on an evaluation of the Registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (17 CFR 270.30a-3(c)), the “Disclosure Controls”), within 90 days prior to the filing of this report, that the Disclosure Controls are effectively designed to ensure that information required to be disclosed by the Registrant in this report is recorded, processed, summarized and reported, including ensuring that information required to be disclosed in this report is accumulated and communicated to the Registrant’s management, including the Registrant’s principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure.

 

(b) There were no changes in the Registrant’s internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940, as amended (17 CFR 270.30a-3(d))) that occurred during the Registrant’s most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

 

Item 3. Exhibits.

 

(a)

Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940, as amended (17 CFR 270.30a-2), attached hereto as Exhibits (a)(1) and (a)(2).

 



 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Harris Associates Investment Trust

 

 

By:

/s/ John R. Raitt

 

 

John R. Raitt

 

 

Principal Executive Officer

 

Date:

August 28, 2009

 

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, as amended, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

 

 

By:

/s/ John R. Raitt

 

 

John R. Raitt

 

 

Principal Executive Officer

 

Date:

August 28, 2009

 

 

 

 

 

 

 

By:

/s/ Kristi L. Rowsell

 

 

Kristi L. Rowsell

 

 

Principal Financial Officer

 

Date:

August 28, 2009