N-Q 1 a13-15401_2nq.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)

 

Kristi L. Rowsell

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:

9/30/13

 

 

Date of reporting period:

6/30/13

 

 



 

Item 1. Schedule of Investments.

 



 

Oakmark Fund

 

June 30, 2013 (Unaudited)

Schedule of Investments (in thousands)

 

 

 

 

 

Shares

 

Value

 

COMMON STOCKS— 93.5%

 

 

 

 

 

FINANCIALS — 24.8%

 

 

 

 

 

DIVERSIFIED FINANCIALS — 15.3%

 

 

 

 

 

Bank of America Corp.

 

22,950

 

$

295,137

 

Other Diversified Financial Services

 

 

 

 

 

JPMorgan Chase & Co.

 

4,495

 

237,291

 

Other Diversified Financial Services

 

 

 

 

 

Capital One Financial Corp.

 

3,753

 

235,713

 

Consumer Finance

 

 

 

 

 

Franklin Resources, Inc.

 

1,470

 

199,950

 

Asset Management & Custody Banks

 

 

 

 

 

The Goldman Sachs Group, Inc.

 

1,213

 

183,466

 

Investment Banking & Brokerage

 

 

 

 

 

State Street Corp.

 

2,800

 

182,588

 

Asset Management & Custody Banks

 

 

 

 

 

Bank of New York Mellon Corp.

 

5,260

 

147,533

 

Asset Management & Custody Banks

 

 

 

 

 

 

 

 

 

1,481,678

 

INSURANCE — 7.5%

 

 

 

 

 

American International Group, Inc. (a)

 

5,195

 

232,217

 

Multi-line Insurance

 

 

 

 

 

Aflac, Inc.

 

3,210

 

186,565

 

Life & Health Insurance

 

 

 

 

 

Principal Financial Group, Inc.

 

4,500

 

168,525

 

Life & Health Insurance

 

 

 

 

 

Aon PLC (b)

 

2,120

 

136,422

 

Insurance Brokers

 

 

 

 

 

 

 

 

 

723,729

 

BANKS — 2.0%

 

 

 

 

 

Wells Fargo & Co.

 

4,820

 

198,921

 

Diversified Banks

 

 

 

 

 

 

 

 

 

2,404,328

 

INFORMATION TECHNOLOGY — 18.1%

 

 

 

 

 

SOFTWARE & SERVICES — 8.9%

 

 

 

 

 

Oracle Corp.

 

7,080

 

217,498

 

Systems Software

 

 

 

 

 

Microsoft Corp.

 

5,920

 

204,418

 

Systems Software

 

 

 

 

 

MasterCard, Inc., Class A

 

313

 

179,818

 

Data Processing & Outsourced Services

 

 

 

 

 

Google, Inc., Class A (a)

 

179

 

157,586

 

Internet Software & Services

 

 

 

 

 

Automatic Data Processing, Inc.

 

1,430

 

98,470

 

Data Processing & Outsourced Services

 

 

 

 

 

 

 

 

 

857,790

 

SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 5.3%

 

 

 

 

 

Intel Corp.

 

9,100

 

220,402

 

Semiconductors

 

 

 

 

 

Texas Instruments, Inc.

 

5,465

 

190,564

 

Semiconductors

 

 

 

 

 

Applied Materials, Inc.

 

7,160

 

106,756

 

Semiconductor Equipment

 

 

 

 

 

 

 

 

 

517,722

 

TECHNOLOGY HARDWARE & EQUIPMENT — 3.9%

 

 

 

 

 

TE Connectivity, Ltd. (b)

 

4,686

 

213,384

 

Electronic Manufacturing Services

 

 

 

 

 

Apple, Inc.

 

421

 

166,750

 

Computer Hardware

 

 

 

 

 

 

 

 

 

380,134

 

 

 

 

 

1,755,646

 

CONSUMER DISCRETIONARY — 16.7%

 

 

 

 

 

MEDIA — 6.0%

 

 

 

 

 

DIRECTV (a)

 

3,639

 

224,244

 

Cable & Satellite

 

 

 

 

 

Omnicom Group, Inc.

 

3,171

 

199,377

 

Advertising

 

 

 

 

 

Comcast Corp., Class A

 

3,940

 

156,300

 

Cable & Satellite

 

 

 

 

 

 

 

 

 

579,921

 

RETAILING — 4.6%

 

 

 

 

 

Liberty Interactive Corp., Class A (a)

 

8,370

 

192,587

 

Catalog Retail

 

 

 

 

 

The Home Depot, Inc.

 

1,957

 

151,570

 

Home Improvement Retail

 

 

 

 

 

Kohl’s Corp.

 

2,042

 

103,136

 

Department Stores

 

 

 

 

 

 

 

 

 

447,293

 

AUTOMOBILES & COMPONENTS — 4.5%

 

 

 

 

 

Delphi Automotive PLC (b)

 

3,984

 

201,949

 

Auto Parts & Equipment

 

 

 

 

 

General Motors Co. (a)

 

5,300

 

176,543

 

Automobile Manufacturers

 

 

 

 

 

Harley-Davidson, Inc.

 

1,102

 

60,412

 

Motorcycle Manufacturers

 

 

 

 

 

 

 

 

 

438,904

 

CONSUMER SERVICES — 1.6%

 

 

 

 

 

McDonald’s Corp.

 

1,559

 

154,341

 

Restaurants

 

 

 

 

 

 

 

 

 

1,620,459

 

INDUSTRIALS — 11.5%

 

 

 

 

 

CAPITAL GOODS — 9.4%

 

 

 

 

 

Illinois Tool Works, Inc.

 

3,060

 

211,660

 

Industrial Machinery

 

 

 

 

 

Parker Hannifin Corp.

 

1,875

 

178,875

 

Industrial Machinery

 

 

 

 

 

3M Co.

 

1,533

 

167,634

 

Industrial Conglomerates

 

 

 

 

 

Cummins, Inc.

 

1,380

 

149,675

 

Construction & Farm Machinery & Heavy Trucks

 

 

 

 

 

Northrop Grumman Corp.

 

1,490

 

123,372

 

Aerospace & Defense

 

 

 

 

 

The Boeing Co.

 

778

 

79,698

 

Aerospace & Defense

 

 

 

 

 

 

 

 

 

910,914

 

 



 

 

 

Shares

 

Value

 

TRANSPORTATION — 2.1%

 

 

 

 

 

FedEx Corp.

 

2,100

 

$

207,018

 

Air Freight & Logistics

 

 

 

 

 

 

 

 

 

1,117,932

 

HEALTH CARE — 10.1%

 

 

 

 

 

HEALTH CARE EQUIPMENT & SERVICES — 7.3%

 

 

 

 

 

UnitedHealth Group, Inc.

 

3,460

 

226,561

 

Managed Health Care

 

 

 

 

 

Medtronic, Inc.

 

4,385

 

225,696

 

Health Care Equipment

 

 

 

 

 

Covidien PLC (b)

 

2,628

 

165,144

 

Health Care Equipment

 

 

 

 

 

Baxter International, Inc.

 

1,253

 

86,795

 

Health Care Equipment

 

 

 

 

 

 

 

 

 

704,196

 

PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES — 2.8%

 

 

 

 

 

Forest Laboratories, Inc. (a)

 

4,950

 

202,950

 

Pharmaceuticals

 

 

 

 

 

Merck & Co., Inc.

 

1,587

 

73,694

 

Pharmaceuticals

 

 

 

 

 

 

 

 

 

276,644

 

 

 

 

 

980,840

 

ENERGY — 9.8%

 

 

 

 

 

Exxon Mobil Corp.

 

2,187

 

197,595

 

Integrated Oil & Gas

 

 

 

 

 

Devon Energy Corp.

 

3,765

 

195,328

 

Oil & Gas Exploration & Production

 

 

 

 

 

Halliburton Co.

 

4,000

 

166,880

 

Oil & Gas Equipment & Services

 

 

 

 

 

National Oilwell Varco, Inc.

 

2,300

 

158,470

 

Oil & Gas Equipment & Services

 

 

 

 

 

Apache Corp.

 

1,350

 

113,171

 

Oil & Gas Exploration & Production

 

 

 

 

 

Cenovus Energy, Inc. (b)

 

3,950

 

112,654

 

Integrated Oil & Gas

 

 

 

 

 

 

 

 

 

944,098

 

CONSUMER STAPLES — 2.5%

 

 

 

 

 

FOOD, BEVERAGE & TOBACCO — 1.5%

 

 

 

 

 

Unilever PLC (c)

 

3,733

 

150,999

 

Packaged Foods & Meats

 

 

 

 

 

FOOD & STAPLES RETAILING — 1.0%

 

 

 

 

 

Wal-Mart Stores, Inc.

 

1,265

 

94,230

 

Hypermarkets & Super Centers

 

 

 

 

 

 

 

 

 

245,229

 

TOTAL COMMON STOCKS — 93.5%
(Cost $6,389,825)

 

 

 

9,068,532

 

 

 

 

Par Value

 

Value

 

SHORT TERM INVESTMENT— 6.0%

 

 

 

 

 

REPURCHASE AGREEMENT — 6.0%

 

 

 

 

 

Fixed Income Clearing Corp. Repurchase Agreement, 0.01% dated 06/28/13 due 07/01/13, repurchase price $578,588, collateralized by a United States Treasury Note, 0.750%, due 03/31/18, value plus accrued interest of $590,163 (Cost: $578,587)

 

$

578,587

 

578,587

 

TOTAL SHORT TERM INVESTMENTS — 6.0%
(Cost $578,587)

 

 

 

578,587

 

TOTAL INVESTMENTS — 99.5%
(Cost $6,968,412)

 

 

 

9,647,119

 

Other Assets In Excess of Liabilities — 0.5%

 

 

 

44,695

 

TOTAL NET ASSETS — 100.0%

 

 

 

$

9,691,814

 

 


(a)         Non-income producing security

(b)         Foreign domiciled corporation

(c)         Sponsored American Depositary Receipt

 



 

Oakmark Select Fund

 

June 30, 2013 (Unaudited)

Schedule of Investments (in thousands)

 

 

 

 

 

Shares

 

Value

 

COMMON STOCKS— 95.4%

 

 

 

 

 

INFORMATION TECHNOLOGY — 23.4%

 

 

 

 

 

SOFTWARE & SERVICES — 8.9%

 

 

 

 

 

MasterCard, Inc., Class A

 

315

 

$

180,967

 

Data Processing & Outsourced Services

 

 

 

 

 

Oracle Corp.

 

5,000

 

153,600

 

Systems Software

 

 

 

 

 

 

 

 

 

334,567

 

SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 8.1%

 

 

 

 

 

Intel Corp.

 

6,447

 

156,146

 

Semiconductors

 

 

 

 

 

Texas Instruments, Inc.

 

4,250

 

148,198

 

Semiconductors

 

 

 

 

 

 

 

 

 

304,344

 

TECHNOLOGY HARDWARE & EQUIPMENT — 6.4%

 

 

 

 

 

TE Connectivity, Ltd. (b)

 

5,294

 

241,086

 

Electronic Manufacturing Services

 

 

 

 

 

 

 

 

 

879,997

 

FINANCIALS — 22.7%

 

 

 

 

 

DIVERSIFIED FINANCIALS — 17.0%

 

 

 

 

 

Bank of America Corp.

 

17,100

 

219,906

 

Other Diversified Financial Services

 

 

 

 

 

Capital One Financial Corp.

 

3,450

 

216,695

 

Consumer Finance

 

 

 

 

 

JPMorgan Chase & Co.

 

3,800

 

200,602

 

Other Diversified Financial Services

 

 

 

 

 

 

 

 

 

637,203

 

INSURANCE — 5.7%

 

 

 

 

 

American International Group, Inc. (a)

 

4,805

 

214,792

 

Multi-line Insurance

 

 

 

 

 

 

 

 

 

851,995

 

CONSUMER DISCRETIONARY — 21.4%

 

 

 

 

 

MEDIA — 8.6%

 

 

 

 

 

DIRECTV (a)

 

3,148

 

193,977

 

Cable & Satellite

 

 

 

 

 

Comcast Corp., Class A

 

3,250

 

128,927

 

Cable & Satellite

 

 

 

 

 

 

 

 

 

322,904

 

AUTOMOBILES & COMPONENTS — 8.0%

 

 

 

 

 

TRW Automotive Holdings Corp. (a)

 

4,500

 

298,980

 

Auto Parts & Equipment

 

 

 

 

 

RETAILING — 4.8%

 

 

 

 

 

Liberty Interactive Corp., Class A (a)

 

7,800

 

179,478

 

Catalog Retail

 

 

 

 

 

 

 

 

 

801,362

 

HEALTH CARE — 10.2%

 

 

 

 

 

HEALTH CARE EQUIPMENT & SERVICES — 5.6%

 

 

 

 

 

Medtronic, Inc.

 

4,100

 

 

211,027

 

Health Care Equipment

 

 

 

 

 

PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES — 4.6%

 

 

 

 

 

Forest Laboratories, Inc. (a)

 

4,200

 

172,200

 

Pharmaceuticals

 

 

 

 

 

 

 

 

 

383,227

 

INDUSTRIALS — 6.8%

 

 

 

 

 

TRANSPORTATION — 3.8%

 

 

 

 

 

FedEx Corp.

 

1,450

 

142,941

 

Air Freight & Logistics

 

 

 

 

 

CAPITAL GOODS — 3.0%

 

 

 

 

 

Kennametal, Inc.

 

2,902

 

112,682

 

Industrial Machinery

 

 

 

 

 

 

 

 

 

255,623

 

ENERGY — 6.6%

 

 

 

 

 

Cenovus Energy, Inc. (b)

 

4,525

 

129,047

 

Integrated Oil & Gas

 

 

 

 

 

Newfield Exploration Co. (a)

 

4,950

 

118,245

 

Oil & Gas Exploration & Production

 

 

 

 

 

 

 

 

 

247,292

 

UTILITIES — 4.3%

 

 

 

 

 

Calpine Corp. (a)

 

7,604

 

161,442

 

Independent Power Producers & Energy Traders

 

 

 

 

 

TOTAL COMMON STOCKS — 95.4%
(Cost $2,377,102)

 

 

 

3,580,938

 

 

 

 

Par Value

 

Value

 

SHORT TERM INVESTMENTS— 4.3%

 

 

 

 

 

REPURCHASE AGREEMENT — 4.3%

 

 

 

 

 

Fixed Income Clearing Corp. Repurchase Agreement, 0.01% dated 06/28/13 due 07/01/13, repurchase price $163,869, collateralized by a Federal Home Loan Mortgage Corp. Bond, 1.600%, due 01/09/20, value plus accrued interest of $167,149 (Cost: $163,869)

 

$

163,869

 

163,869

 

TOTAL SHORT TERM INVESTMENTS — 4.3%
(Cost $163,869)

 

 

 

163,869

 

TOTAL INVESTMENTS — 99.7%
(Cost $2,540,971)

 

 

 

3,744,807

 

Other Assets In Excess of Liabilities — 0.3%

 

 

 

9,811

 

TOTAL NET ASSETS — 100.0%

 

 

 

$

3,754,618

 

 


(a)           Non-income producing security

(b)           Foreign domiciled corporation

 



 

Oakmark Equity and Income Fund

 

June 30, 2013 (Unaudited)

Schedule of Investments (in thousands)

 

 

 

 

 

Shares

 

Value

 

COMMON STOCKS— 74.9%

 

 

 

 

 

INDUSTRIALS — 18.8%

 

 

 

 

 

CAPITAL GOODS — 16.2%

 

 

 

 

 

Dover Corp.

 

7,814

 

$

606,820

 

Industrial Machinery

 

 

 

 

 

General Dynamics Corp.

 

7,074

 

554,133

 

Aerospace & Defense

 

 

 

 

 

Rockwell Automation Inc.

 

5,347

 

444,508

 

Electrical Components & Equipment

 

 

 

 

 

Flowserve Corp. (b)

 

6,926

 

374,079

 

Industrial Machinery

 

 

 

 

 

Parker Hannifin Corp.

 

3,589

 

342,386

 

Industrial Machinery

 

 

 

 

 

Illinois Tool Works, Inc.

 

4,239

 

293,239

 

Industrial Machinery

 

 

 

 

 

Northrop Grumman Corp.

 

3,065

 

253,749

 

Aerospace & Defense

 

 

 

 

 

Teledyne Technologies, Inc. (a)

 

857

 

66,321

 

Aerospace & Defense

 

 

 

 

 

Kaydon Corp.

 

966

 

26,621

 

Industrial Machinery

 

 

 

 

 

Blount International, Inc. (a)

 

2,165

 

25,592

 

Industrial Machinery

 

 

 

 

 

Crane Co.

 

271

 

16,220

 

Industrial Machinery

 

 

 

 

 

 

 

 

 

3,003,668

 

TRANSPORTATION — 2.5%

 

 

 

 

 

FedEx Corp.

 

4,418

 

435,493

 

Air Freight & Logistics

 

 

 

 

 

Atlas Air Worldwide Holdings, Inc. (a)

 

500

 

21,880

 

Air Freight & Logistics

 

 

 

 

 

 

 

 

 

457,373

 

COMMERCIAL & PROFESSIONAL SERVICES — 0.1%

 

 

 

 

 

Herman Miller, Inc.

 

730

 

19,768

 

Office Services & Supplies

 

 

 

 

 

 

 

 

 

3,480,809

 

ENERGY — 12.6%

 

 

 

 

 

Baker Hughes, Inc.

 

10,059

 

464,031

 

Oil & Gas Equipment & Services

 

 

 

 

 

Devon Energy Corp.

 

8,424

 

437,027

 

Oil & Gas Exploration & Production

 

 

 

 

 

National Oilwell Varco, Inc.

 

4,582

 

315,665

 

Oil & Gas Equipment & Services

 

 

 

 

 

Cenovus Energy, Inc. (c)

 

9,901

 

282,366

 

Integrated Oil & Gas

 

 

 

 

 

Encana Corp. (c) (d)

 

14,713

 

249,245

 

Oil & Gas Exploration & Production

 

 

 

 

 

Cimarex Energy Co.

 

3,449

 

224,177

 

Oil & Gas Exploration & Production

 

 

 

 

 

Range Resources Corp.

 

2,565

 

198,330

 

Oil & Gas Exploration & Production

 

 

 

 

 

Concho Resources, Inc. (a)

 

1,497

 

125,296

 

Oil & Gas Exploration & Production

 

 

 

 

 

Patterson-UTI Energy, Inc.

 

1,730

 

33,484

 

Oil & Gas Drilling

 

 

 

 

 

 

 

 

 

2,329,621

 

CONSUMER DISCRETIONARY — 11.8%

 

 

 

 

 

AUTOMOBILES & COMPONENTS — 5.5%

 

 

 

 

 

General Motors Co. (a)

 

14,263

 

475,084

 

Automobile Manufacturers

 

 

 

 

 

BorgWarner, Inc. (a)

 

3,229

 

278,152

 

Auto Parts & Equipment

 

 

 

 

 

Lear Corp.

 

4,424

 

267,454

 

Auto Parts & Equipment

 

 

 

 

 

 

 

 

 

1,020,690

 

RETAILING — 2.7%

 

 

 

 

 

Foot Locker, Inc.

 

6,838

 

240,229

 

Apparel Retail

 

 

 

 

 

Staples, Inc.

 

12,013

 

190,523

 

Specialty Stores

 

 

 

 

 

HSN, Inc.

 

1,034

 

55,525

 

Catalog Retail

 

 

 

 

 

 

 

 

 

486,277

 

MEDIA — 2.1%

 

 

 

 

 

Scripps Networks Interactive, Inc., Class A

 

5,895

 

393,564

 

Broadcasting

 

 

 

 

 

CONSUMER DURABLES & APPAREL — 1.5%

 

 

 

 

 

Carter’s, Inc.

 

2,317

 

171,605

 

Apparel, Accessories & Luxury Goods

 

 

 

 

 

Leggett & Platt, Inc.

 

3,455

 

107,424

 

Home Furnishings

 

 

 

 

 

 

 

 

 

279,029

 

 

 

 

 

2,179,560

 

HEALTH CARE — 10.0%

 

 

 

 

 

HEALTH CARE EQUIPMENT & SERVICES — 8.4%

 

 

 

 

 

UnitedHealth Group, Inc.

 

8,799

 

576,132

 

Managed Health Care

 

 

 

 

 

Laboratory Corp. of America Holdings (a)

 

2,524

 

252,683

 

Health Care Services

 

 

 

 

 

Quest Diagnostics, Inc.

 

4,115

 

249,468

 

Health Care Services

 

 

 

 

 

Omnicare, Inc.

 

5,138

 

245,153

 

Health Care Services

 

 

 

 

 

Varian Medical Systems, Inc. (a) (b)

 

3,363

 

226,863

 

Health Care Equipment

 

 

 

 

 

 

 

 

 

1,550,299

 

PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES — 1.6%

 

 

 

 

 

Hospira, Inc. (a)

 

6,217

 

238,192

 

Pharmaceuticals

 

 

 

 

 

Bruker Corp. (a)

 

3,834

 

61,911

 

Life Sciences Tools & Services

 

 

 

 

 

 

 

 

 

300,103

 

 

 

 

 

1,850,402

 

 



 

 

 

Shares

 

Value

 

CONSUMER STAPLES — 8.8%

 

 

 

 

 

FOOD, BEVERAGE & TOBACCO — 7.2%

 

 

 

 

 

Philip Morris International, Inc.

 

5,915

 

$

512,349

 

Tobacco

 

 

 

 

 

Nestle SA (e)

 

6,956

 

457,572

 

Packaged Foods & Meats

 

 

 

 

 

Diageo PLC (e)

 

3,124

 

359,150

 

Distillers & Vintners

 

 

 

 

 

 

 

 

 

1,329,071

 

FOOD & STAPLES RETAILING — 1.6%

 

 

 

 

 

CVS Caremark Corp.

 

5,285

 

302,205

 

Drug Retail

 

 

 

 

 

 

 

 

 

1,631,276

 

INFORMATION TECHNOLOGY — 6.7%

 

 

 

 

 

SOFTWARE & SERVICES — 4.7%

 

 

 

 

 

Oracle Corp.

 

12,975

 

398,577

 

Systems Software

 

 

 

 

 

MasterCard, Inc., Class A

 

535

 

307,333

 

Data Processing & Outsourced Services

 

 

 

 

 

Broadridge Financial Solutions, Inc. (b)

 

5,904

 

156,915

 

Data Processing & Outsourced Services

 

 

 

 

 

 

 

 

 

862,825

 

TECHNOLOGY HARDWARE & EQUIPMENT — 2.0%

 

 

 

 

 

TE Connectivity, Ltd. (c)

 

6,797

 

309,517

 

Electronic Manufacturing Services

 

 

 

 

 

ARRIS Group, Inc. (a)

 

3,833

 

55,002

 

Communications Equipment

 

 

 

 

 

 

 

 

 

364,519

 

 

 

 

 

1,227,344

 

FINANCIALS — 6.2%

 

 

 

 

 

DIVERSIFIED FINANCIALS — 3.7%

 

 

 

 

 

Bank of America Corp.

 

30,211

 

388,519

 

Other Diversified Financial Services

 

 

 

 

 

TD Ameritrade Holding Corp.

 

12,006

 

291,635

 

Investment Banking & Brokerage

 

 

 

 

 

 

 

 

 

680,154

 

INSURANCE — 1.6%

 

 

 

 

 

Principal Financial Group, Inc.

 

4,727

 

177,011

 

Life & Health Insurance

 

 

 

 

 

Aflac, Inc.

 

2,077

 

120,704

 

Life & Health Insurance

 

 

 

 

 

 

 

 

 

297,715

 

BANKS — 0.9%

 

 

 

 

 

U.S. Bancorp

 

4,461

 

161,259

 

Diversified Banks

 

 

 

 

 

 

 

 

 

1,139,128

 

TOTAL COMMON STOCKS — 74.9%
(Cost $9,954,821)

 

 

 

13,838,140

 

 

 

 

Par Value

 

Value

 

FIXED INCOME— 14.6%

 

 

 

 

 

GOVERNMENT AND AGENCY SECURITIES — 12.9%

 

 

 

 

 

U.S. GOVERNMENT NOTES — 11.9%

 

 

 

 

 

1.375%, due 07/15/18, Inflation Indexed

 

$

537,548

 

587,105

 

1.25%, due 07/15/20, Inflation Indexed

 

531,522

 

577,366

 

0.125%, due 09/30/13

 

299,070

 

299,093

 

2.125%, due 01/15/19, Inflation Indexed

 

215,960

 

244,221

 

1.00%, due 09/30/16

 

199,380

 

200,735

 

0.125%, due 08/31/13

 

199,380

 

199,396

 

1.00%, due 01/15/14

 

99,690

 

100,161

 

 

 

 

 

2,208,077

 

U.S. GOVERNMENT AGENCIES — 0.7%

 

 

 

 

 

Federal Home Loan Banks, 1.65%, due 07/18/19

 

29,550

 

28,392

 

Federal Home Loan Mortgage Corp., 2.00%, due 08/08/17

 

24,930

 

24,975

 

Federal Home Loan Mortgage Corp., 2.25%, due 03/13/20

 

25,000

 

24,924

 

Federal National Mortgage Association, 1.25%, due 09/27/18

 

24,680

 

24,234

 

Federal Home Loan Banks, 1.00%, due 07/10/18

 

10,845

 

10,789

 

Federal National Mortgage Association, 1.00%, due 07/18/18

 

9,825

 

9,805

 

Federal National Mortgage Association, 1.00%, due 01/30/20

 

9,525

 

9,296

 

 

 

 

 

132,415

 

CANADIAN GOVERNMENT BONDS — 0.3%

 

 

 

 

 

 

4.25%, due 12/01/21, Inflation Indexed

CAD

 

36,826

 

45,733

 

Total Government and Agency Securities
(Cost $2,274,099)

 

 

 

 

2,386,225

 

CORPORATE BONDS — 1.6%

 

 

 

 

 

 

Kinetic Concepts, Inc., 10.50%, due 11/01/18

 

 

47,940

 

51,535

 

Fifth & Pacific Cos., Inc., 10.50%, due 04/15/19

 

 

27,163

 

29,676

 

Denbury Resources, Inc., 8.25%, due 02/15/20

 

 

21,771

 

23,513

 

Delphi Corp., 5.875%, due 05/15/19

 

 

20,943

 

22,252

 

Triumph Group, Inc., 8.625%, due 07/15/18

 

 

20,000

 

21,600

 

Kinetic Concepts, Inc., 12.50%, due 11/01/19

 

 

14,360

 

14,791

 

Omnicare, Inc., 7.75%, due 06/01/20

 

 

13,500

 

14,783

 

Quiksilver, Inc., 6.875%, due 04/15/15

 

 

15,000

 

14,700

 

ASML Holding NV, 5.75%, due 06/13/17

EUR

 

9,660

 

14,453

 

 



 

 

 

Par Value

 

Value

 

The Manitowoc Co., Inc., 8.50%, due 11/01/20

 

$

11,825

 

$

12,889

 

Penn National Gaming, Inc., 8.75%, due 08/15/19

 

9,970

 

10,917

 

Live Nation Entertainment, Inc., 144A, 7.00%, due 09/01/20 (f)

 

9,605

 

10,097

 

Six Flags Entertainment Corp., 144A, 5.25%, due 01/15/21 (f)

 

9,970

 

9,621

 

Health Net, Inc., 6.375%, due 06/01/17

 

8,680

 

9,016

 

Concho Resources, Inc., 5.50%, due 10/01/22

 

6,980

 

6,910

 

Scotiabank Peru SA, 144A, 4.50%, due 12/13/27 (f) (g)

 

6,000

 

5,385

 

Serta Simmons Holdings LLC, 144A, 8.125%, due 10/01/20 (f)

 

4,990

 

5,077

 

Walter Energy, Inc., 144A, 9.875%, due 12/15/20 (b) (f)

 

5,390

 

4,689

 

Walter Energy, Inc., 144A, 8.50%, due 04/15/21 (b) (f)

 

5,000

 

4,000

 

Post Holdings, Inc., 7.375%, due 02/15/22

 

1,000

 

1,070

 

CNO Financial Group, Inc., 144A, 6.375%, due 10/01/20 (f)

 

250

 

266

 

Hologic, Inc., 6.25%, due 08/01/20

 

250

 

259

 

Tempur Sealy International, Inc., 144A, 6.875%, due 12/15/20 (f)

 

100

 

106

 

Total Corporate Bonds
(Cost $283,283)

 

 

 

287,605

 

ASSET BACKED SECURITIES — 0.1%

 

 

 

 

 

Cabela’s Master Credit Card Trust, 144A, 0.743%, due 10/15/19 (f) (g) (Cost $11,450)

 

11,450

 

11,471

 

CONVERTIBLE BOND — 0.0%(h)

 

 

 

 

 

Live Nation Entertainment, Inc., 2.875%, due 07/15/27 (Cost $834)

 

828

 

837

 

TOTAL FIXED INCOME — 14.6%
(Cost $2,569,666)

 

 

 

2,686,138

 

 

SHORT TERM INVESTMENTS— 10.6%

 

 

 

 

 

REPURCHASE AGREEMENT — 4.1%

 

 

 

 

 

Fixed Income Clearing Corp. Repurchase Agreement, 0.01% dated 06/28/13 due 07/01/13, repurchase price $762,767, collateralized by a United States Treasury Note, 0.625%, due 08/31/17, value plus accrued interest of $778,023 (Cost: $762,766)

 

762,766

 

762,766

 

COMMERCIAL PAPER — 3.7%

 

 

 

 

 

Toyota Motor Credit Corp., 0.09%, due 07/26/13 - 08/02/13 (i)

 

200,000

 

199,985

 

General Mills Inc., 144A, 0.12% - 0.17%, due 07/01/13 - 07/18/13 (f) (i)

 

149,667

 

149,662

 

Kellogg Co., 144A, 0.15% - 0.16%, due 07/11/13 - 07/25/13 (f) (i)

 

125,000

 

124,991

 

Wellpoint, Inc., 144A, 0.21% - 0.25%, due 07/01/13 - 08/22/13 (f) (i)

 

125,000

 

124,991

 

Wal-Mart Stores, Inc., 144A, 0.06%, due 07/09/13 (f) (i)

 

50,000

 

49,999

 

Medtronic, Inc., 144A, 0.07% - 0.08%, due 07/02/13 - 07/09/13 (f) (i)

 

29,000

 

29,000

 

BP Capital Markets PLC, 144A, 0.11%, due 07/31/13 (f) (i)

 

3,000

 

3,000

 

Total Commercial Paper
(Cost $681,628)

 

 

 

681,628

 

CANADIAN TREASURY BILLS — 1.5%

 

 

 

 

 

1.03% - 1.05%, due 08/01/13 - 11/21/13 (i) (Cost $298,724)

CAD

 

298,300

 

282,867

 

CORPORATE BONDS — 0.8%

 

 

 

 

 

Citigroup, Inc., 6.00%, due 12/13/13

 

34,839

 

35,649

 

MetLife, Inc., 2.38%, due 02/06/14

 

34,806

 

35,187

 

Time Warner Cable, Inc., 6.20%, due 07/01/13

 

28,300

 

28,300

 

Dell, Inc., 1.40%, due 09/10/13

 

25,060

 

25,070

 

United Parcel Service, Inc., 3.88%, due 04/01/14

 

13,075

 

13,405

 

General Mills, Inc., 5.25%, due 08/15/13

 

9,199

 

9,254

 

Walgreen Co., 4.88%, due 08/01/13

 

3,008

 

3,019

 

Total Corporate Bonds
(Cost $150,025)

 

 

 

149,884

 

GOVERNMENT AND AGENCY SECURITIES — 0.5%

 

 

 

 

 

United States Treasury Note, 0.19%, due 07/15/13 (i) (Cost $99,721)

 

99,690

 

99,720

 

TOTAL SHORT TERM INVESTMENTS — 10.6%
(Cost $1,992,864)

 

 

 

1,976,865

 

TOTAL INVESTMENTS — 100.1%
(Cost $14,517,351)

 

 

 

18,501,143

 

Liabilities In Excess of Other Assets — (0.1)%

 

 

 

(13,342

)

NET ASSETS — 100.0%

 

 

 

$

18,487,801

 

 



 


(a)         Non-income producing security

(b)         See Note 2 in the Notes to Schedules of Investments regarding investments in affiliated issuers.

(c)          Foreign domiciled corporation

(d)         A portion of the security out on loan.

(e)          Sponsored American Depositary Receipt

(f)           See Note 1 in the Notes to Financial Statements regarding restricted securities. These securities may be resold subject to restrictions on resale under federal securities law.

(g)          Floating Rate Note. Rate shown is as of June 30, 2013.

(h)         Amount rounds to less than 0.1%.

(i)             The rate shown represents the annualized yield at the time of purchase; not a coupon rate.

 

Key to Abbreviations:

CAD                     Canadian Dollar

EUR                      Euro

 



 

OAKMARK GLOBAL FUND

Global Diversification —June 30, 2013 (Unaudited)

 

 

 

 

 

% of Equity Investments

 

North America 46.5%

 

 

 

 

 

 

 

 

United States

 

 

46.5

%

Europe 35.0%

 

 

 

 

 

 

 

 

Switzerland

 

 

18.2

%

 

*

Germany

 

 

6.2

%

 

*

Netherlands

 

 

3.9

%

 

 

United Kingdom

 

 

3.4

%

 

*

Italy

 

 

3.3

%

Asia 15.1%

 

 

 

 

 

 

 

 

Japan

 

 

15.1

%

Australasia 3.4%

 

 

 

 

 

 

 

 

Australia

 

 

3.4

%

 


*       Euro currency countries comprise 13.4% of equity investments.

 



 

Oakmark Global Fund

 

June 30, 2013 (Unaudited)

Schedule of Investments (in thousands)

 

 

 

 

 

Shares

 

Value

 

COMMON STOCKS— 96.1%

 

 

 

 

 

INFORMATION TECHNOLOGY — 25.9%

 

 

 

 

 

SOFTWARE & SERVICES — 9.8%

 

 

 

 

 

Oracle Corp. (United States)

 

3,401

 

$

104,463

 

Systems Software

 

 

 

 

 

MasterCard, Inc., Class A (United States)

 

163

 

93,586

 

Data Processing & Outsourced Services

 

 

 

 

 

Square Enix Holdings Co., Ltd. (Japan)

 

3,920

 

47,193

 

Home Entertainment Software

 

 

 

 

 

 

 

 

 

245,242

 

TECHNOLOGY HARDWARE & EQUIPMENT — 8.6%

 

 

 

 

 

TE Connectivity, Ltd. (Switzerland)

 

1,788

 

81,421

 

Electronic Manufacturing Services

 

 

 

 

 

Canon, Inc. (Japan)

 

1,546

 

50,427

 

Office Electronics

 

 

 

 

 

Hirose Electric Co., Ltd. (Japan)

 

343

 

45,196

 

Electronic Components

 

 

 

 

 

OMRON Corp. (Japan)

 

1,333

 

39,678

 

Electronic Components

 

 

 

 

 

 

 

 

 

216,722

 

SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 7.5%

 

 

 

 

 

Texas Instruments, Inc. (United States)

 

1,869

 

65,182

 

Semiconductors

 

 

 

 

 

Intel Corp. (United States)

 

2,483

 

60,143

 

Semiconductors

 

 

 

 

 

Applied Materials, Inc. (United States)

 

3,365

 

50,174

 

Semiconductor Equipment

 

 

 

 

 

ROHM Co., Ltd. (Japan)

 

356

 

14,358

 

Semiconductors

 

 

 

 

 

 

 

 

 

189,857

 

 

 

 

 

651,821

 

INDUSTRIALS — 22.6%

 

 

 

 

 

CAPITAL GOODS — 12.5%

 

 

 

 

 

Snap-on, Inc. (United States)

 

988

 

88,290

 

Industrial Machinery

 

 

 

 

 

Fiat Industrial SPA (Italy)

 

7,105

 

79,205

 

Construction & Farm Machinery & Heavy Trucks

 

 

 

 

 

Rheinmetall AG (Germany)

 

1,147

 

53,466

 

Industrial Conglomerates

 

 

 

 

 

Koninklijke Philips NV (Netherlands)

 

1,712

 

46,666

 

Industrial Conglomerates

 

 

 

 

 

Travis Perkins PLC (UK)

 

1,191

 

26,373

 

Trading Companies & Distributors

 

 

 

 

 

Smiths Group PLC (UK)

 

958

 

19,055

 

Industrial Conglomerates

 

 

 

 

 

 

 

 

 

313,055

 

TRANSPORTATION — 7.6%

 

 

 

 

 

FedEx Corp. (United States)

 

798

 

78,618

 

Air Freight & Logistics

 

 

 

 

 

Union Pacific Corp. (United States)

 

371

 

57,176

 

Railroads

 

 

 

 

 

Kuehne + Nagel International AG (Switzerland)

 

499

 

54,828

 

Marine

 

 

 

 

 

 

 

 

 

190,622

 

COMMERCIAL  & PROFESSIONAL SERVICES — 2.5%

 

 

 

 

 

Adecco SA (Switzerland)

 

1,111

 

63,328

 

Human Resource & Employment Services

 

 

 

 

 

 

 

 

 

567,005

 

CONSUMER DISCRETIONARY — 11.6%

 

 

 

 

 

AUTOMOBILES & COMPONENTS — 9.5%

 

 

 

 

 

Daimler AG (Germany)

 

1,590

 

96,182

 

Automobile Manufacturers

 

 

 

 

 

General Motors Co. (United States) (a)

 

2,442

 

81,343

 

Automobile Manufacturers

 

 

 

 

 

Yamaha Motor Co., Ltd. (Japan)

 

2,635

 

34,140

 

Motorcycle Manufacturers

 

 

 

 

 

Toyota Motor Corp. (Japan)

 

456

 

27,558

 

Automobile Manufacturers

 

 

 

 

 

 

 

 

 

239,223

 

MEDIA — 2.1%

 

 

 

 

 

Live Nation Entertainment, Inc. (United States) (a)

 

3,382

 

52,417

 

Movies & Entertainment

 

 

 

 

 

 

 

 

 

291,640

 

FINANCIALS — 10.6%

 

 

 

 

 

DIVERSIFIED FINANCIALS — 10.6%

 

 

 

 

 

Credit Suisse Group (Switzerland)

 

3,890

 

103,159

 

Diversified Capital Markets

 

 

 

 

 

Julius Baer Group, Ltd. (Switzerland)

 

2,548

 

99,528

 

Asset Management & Custody Banks

 

 

 

 

 

Daiwa Securities Group, Inc. (Japan)

 

7,693

 

64,612

 

Investment Banking & Brokerage

 

 

 

 

 

 

 

 

 

267,299

 

HEALTH CARE — 8.6%

 

 

 

 

 

HEALTH CARE EQUIPMENT & SERVICES — 8.6%

 

 

 

 

 

Tenet Healthcare Corp. (United States) (a)

 

1,894

 

87,322

 

Health Care Facilities

 

 

 

 

 

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

 

782

 

78,318

 

Health Care Services

 

 

 

 

 

Health Net, Inc. (United States) (a)

 

1,565

 

49,782

 

Managed Health Care

 

 

 

 

 

 

 

 

 

215,422

 

MATERIALS — 7.2%

 

 

 

 

 

Incitec Pivot, Ltd. (Australia)

 

31,196

 

81,597

 

Diversified Chemicals

 

 

 

 

 

Akzo Nobel NV (Netherlands)

 

863

 

48,646

 

Diversified Chemicals

 

 

 

 

 

Kansai Paint Co., Ltd. (Japan)

 

3,246

 

41,433

 

Specialty Chemicals

 

 

 

 

 

 



 

 

 

Shares

 

Value

 

International Flavors & Fragrances, Inc. (United States)

 

116

 

$

8,730

 

Specialty Chemicals

 

 

 

 

 

 

 

 

 

180,406

 

ENERGY — 6.7%

 

 

 

 

 

Devon Energy Corp. (United States)

 

1,326

 

68,793

 

Oil & Gas Exploration & Production

 

 

 

 

 

National Oilwell Varco, Inc. (United States)

 

831

 

57,221

 

Oil & Gas Equipment & Services

 

 

 

 

 

Cimarex Energy Co. (United States)

 

655

 

42,567

 

Oil & Gas Exploration & Production

 

 

 

 

 

 

 

 

 

168,581

 

CONSUMER STAPLES — 2.9%

 

 

 

 

 

FOOD, BEVERAGE & TOBACCO — 2.9%

 

 

 

 

 

Nestle SA (Switzerland)

 

562

 

36,846

 

Packaged Foods & Meats

 

 

 

 

 

Diageo PLC (UK)

 

1,271

 

36,343

 

Distillers & Vintners

 

 

 

 

 

 

 

 

 

73,189

 

TOTAL COMMON STOCKS — 96.1%
(Cost $2,013,376)

 

 

 

2,415,363

 

 

 

 

 

 

 

 

 

Par Value

 

Value

 

SHORT TERM INVESTMENT— 2.8%

 

 

 

 

 

REPURCHASE AGREEMENT — 2.8%

 

 

 

 

 

Fixed Income Clearing Corp. Repurchase Agreement, 0.01% dated 06/28/13 due 07/01/13, repurchase price $70,728, collateralized by a Federal Home Loan Mortgage Corp. Bond, 1.600%, due 01/09/20, value plus accrued interest of $72,145 (Cost: $70,728)

 

$

70,728

 

70,728

 

TOTAL SHORT TERM INVESTMENTS — 2.8%
(Cost $70,728)

 

 

 

70,728

 

TOTAL INVESTMENTS — 98.9%
(Cost $2,084,104)

 

 

 

2,486,091

 

Foreign Currencies (Cost $594) — 0.0% (b)

 

 

 

592

 

Other Assets In Excess of Liabilities — 1.1%

 

 

 

28,274

 

TOTAL NET ASSETS — 100.0%

 

 

 

$

2,514,957

 

 


(a)           Non-income producing security

(b)           Amount rounds to less than 0.1%.

 



 

OAKMARK GLOBAL SELECT FUND

Global Diversification —June 30, 2013 (Unaudited)

 

 

 

 

 

% of Equity Investments

 

North America 47.6%

 

 

 

 

 

 

 

 

United States

 

 

43.8

%

 

 

Canada

 

 

3.8

%

Europe 41.8%

 

 

 

 

 

 

 

 

Switzerland

 

 

20.7

%

 

*

Germany

 

 

7.5

%

 

*

Italy

 

 

6.1

%

 

*

France

 

 

3.8

%

 

 

United Kingdom

 

 

3.7

%

Asia 10.6%

 

 

 

 

 

 

 

 

Japan

 

 

10.6

%

 


*              Euro currency countries comprise 17.4% of equity investments.

 



 

Oakmark Global Select Fund

 

June 30, 2013 (Unaudited)

Schedule of Investments (in thousands)

 

 

 

 

 

Shares

 

Value

 

COMMON STOCKS— 94.6%

 

 

 

 

 

FINANCIALS — 28.5%

 

 

 

 

 

DIVERSIFIED FINANCIALS — 23.8%

 

 

 

 

 

Daiwa Securities Group, Inc. (Japan)

 

5,333

 

$

44,791

 

Investment Banking & Brokerage

 

 

 

 

 

Credit Suisse Group (Switzerland)

 

1,645

 

43,631

 

Diversified Capital Markets

 

 

 

 

 

Bank of America Corp. (United States)

 

3,310

 

42,567

 

Other Diversified Financial Services

 

 

 

 

 

Capital One Financial Corp. (United States)

 

675

 

42,397

 

Consumer Finance

 

 

 

 

 

JPMorgan Chase & Co. (United States)

 

775

 

40,912

 

Other Diversified Financial Services

 

 

 

 

 

 

 

 

 

214,298

 

INSURANCE — 4.7%

 

 

 

 

 

American International Group, Inc. (United States) (a)

 

950

 

42,465

 

Multi-line Insurance

 

 

 

 

 

 

 

 

 

256,763

 

INDUSTRIALS — 20.8%

 

 

 

 

 

TRANSPORTATION — 10.1%

 

 

 

 

 

Kuehne + Nagel International AG (Switzerland)

 

447

 

49,064

 

Marine

 

 

 

 

 

FedEx Corp. (United States)

 

421

 

41,502

 

Air Freight & Logistics

 

 

 

 

 

 

 

 

 

90,566

 

CAPITAL GOODS — 5.7%

 

 

 

 

 

Fiat Industrial SPA (Italy)

 

4,622

 

51,530

 

Construction & Farm Machinery & Heavy Trucks

 

 

 

 

 

COMMERCIAL  & PROFESSIONAL SERVICES — 5.0%

 

 

 

 

 

Adecco SA (Switzerland)

 

793

 

45,227

 

Human Resource & Employment Services

 

 

 

 

 

 

 

 

 

187,323

 

INFORMATION TECHNOLOGY — 17.6%

 

 

 

 

 

TECHNOLOGY HARDWARE & EQUIPMENT — 8.6%

 

 

 

 

 

Canon, Inc. (Japan)

 

1,205

 

39,294

 

Office Electronics

 

 

 

 

 

TE Connectivity, Ltd. (Switzerland)

 

854

 

38,887

 

Electronic Manufacturing Services

 

 

 

 

 

 

 

 

 

78,181

 

SOFTWARE & SERVICES — 4.5%

 

 

 

 

 

Oracle Corp. (United States)

 

1,320

 

40,550

 

Systems Software

 

 

 

 

 

SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 4.5%

 

 

 

 

 

Intel Corp. (United States)

 

1,667

 

40,375

 

Semiconductors

 

 

 

 

 

 

 

 

 

159,106

 

CONSUMER DISCRETIONARY — 16.1%

 

 

 

 

 

AUTOMOBILES & COMPONENTS — 7.8%

 

 

 

 

 

Daimler AG (Germany)

 

1,054

 

63,769

 

Automobile Manufacturers

 

 

 

 

 

Toyota Motor Corp. (Japan)

 

107

 

6,486

 

Automobile Manufacturers

 

 

 

 

 

 

 

 

 

70,255

 

RETAILING — 4.7%

 

 

 

 

 

Liberty Interactive Corp., Class A (United States) (a)

 

1,820

 

41,878

 

Catalog Retail

 

 

 

 

 

Groupe FNAC (France) (a) (b)

 

18

 

388

 

Department Stores

 

 

 

 

 

 

 

 

 

42,266

 

CONSUMER DURABLES & APPAREL — 3.6%

 

 

 

 

 

Kering (France)

 

159

 

32,297

 

Apparel, Accessories & Luxury Goods

 

 

 

 

 

 

 

 

 

144,818

 

HEALTH CARE — 4.5%

 

 

 

 

 

HEALTH CARE EQUIPMENT & SERVICES — 4.5%

 

 

 

 

 

Medtronic, Inc. (United States)

 

792

 

40,764

 

Health Care Equipment

 

 

 

 

 

ENERGY — 3.6%

 

 

 

 

 

Cenovus Energy, Inc. (Canada)

 

1,150

 

32,798

 

Integrated Oil & Gas

 

 

 

 

 

CONSUMER STAPLES — 3.5%

 

 

 

 

 

FOOD, BEVERAGE & TOBACCO — 3.5%

 

 

 

 

 

Diageo PLC (UK)

 

1,116

 

31,897

 

Distillers & Vintners

 

 

 

 

 

TOTAL COMMON STOCKS — 94.6%
(Cost $727,645)

 

 

 

853,469

 

 

 

 

 

 

 

 

 

Par Value

 

Value

 

SHORT TERM INVESTMENTS— 5.3%

 

 

 

 

 

REPURCHASE AGREEMENT — 5.3%

 

 

 

 

 

Fixed Income Clearing Corp. Repurchase Agreement, 0.01% dated 06/28/13 due 07/01/13, repurchase price $47,199, collateralized by a Federal Home Loan Mortgage Corp. Bond, 1.600%, due 01/09/20, value plus accrued interest of $48,147 (Cost: $47,199)

 

$

47,199

 

47,199

 

TOTAL SHORT TERM INVESTMENTS — 5.3%
(Cost $47,199)

 

 

 

47,199

 

TOTAL INVESTMENTS — 99.9%
(Cost $774,844)

 

 

 

900,668

 

Foreign Currencies (Cost $72) — 0.0% (c)

 

 

 

72

 

Other Assets In Excess of Liabilities — 0.1%

 

 

 

1,251

 

TOTAL NET ASSETS — 100.0%

 

 

 

$

901,991

 

 


(a)           Non-income producing security

(b)           A portion of the security out on loan.

(c)           Amount rounds to less than 0.1%.

 



 

OAKMARK INTERNATIONAL FUND

Global Diversification —June 30, 2013 (Unaudited)

 

 

 

 

 

% of Equity Investments

 

Europe 75.3%

 

 

 

 

 

 

 

 

 

Switzerland

 

 

 

18.0

%

 

 

United Kingdom

 

 

 

15.6

%

 

*

France

 

 

 

11.6

%

 

*

Germany

 

 

 

11.4

%

 

*

Italy

 

 

 

6.7

%

 

*

Netherlands

 

 

 

5.5

%

 

 

Sweden

 

 

 

5.4

%

 

*

Ireland

 

 

 

1.1

%

Asia 14.8%

 

 

 

 

 

 

 

 

 

Japan

 

 

 

14.8

%

Australasia 5.6%

 

 

 

 

 

 

 

 

 

Australia

 

 

 

5.6

%

Middle East 2.2%

 

 

 

 

 

 

 

 

 

Israel

 

 

 

2.2

%

North America 2.0%

 

 

 

 

 

 

 

 

 

Canada

 

 

 

2.0

%

Latin America 0.1%

 

 

 

 

 

 

 

 

 

Mexico

 

 

 

0.1

%

 


*                 Euro currency countries comprise 36.3% of equity investments.

 



 

Oakmark International Fund

 

June 30, 2013 (Unaudited)

Schedule of Investments (in thousands)

 

 

 

 

 

Shares

 

Value

 

COMMON STOCKS— 94.4%

 

 

 

 

 

FINANCIALS — 26.7%

 

 

 

 

 

BANKS — 10.2%

 

 

 

 

 

Intesa Sanpaolo SPA (Italy)

 

386,555

 

$

619,389

 

Diversified Banks

 

 

 

 

 

BNP Paribas SA (France)

 

10,746

 

587,115

 

Diversified Banks

 

 

 

 

 

Lloyds Banking Group PLC (UK) (a)

 

541,942

 

520,607

 

Diversified Banks

 

 

 

 

 

Bank of Ireland (Ireland) (a)

 

98,503

 

20,130

 

Diversified Banks

 

 

 

 

 

 

 

 

 

1,747,241

 

DIVERSIFIED FINANCIALS — 9.3%

 

 

 

 

 

Credit Suisse Group (Switzerland)

 

31,197

 

827,361

 

Diversified Capital Markets

 

 

 

 

 

Daiwa Securities Group, Inc. (Japan)

 

52,936

 

444,603

 

Investment Banking & Brokerage

 

 

 

 

 

Schroders PLC (UK)

 

9,522

 

316,159

 

Asset Management & Custody Banks

 

 

 

 

 

Schroders PLC, Non-Voting (UK)

 

31

 

819

 

Asset Management & Custody Banks

 

 

 

 

 

 

 

 

 

1,588,942

 

INSURANCE — 7.2%

 

 

 

 

 

Allianz SE (Germany)

 

3,209

 

468,838

 

Multi-line Insurance

 

 

 

 

 

Willis Group Holdings PLC (UK) (b)

 

10,184

 

415,294

 

Insurance Brokers

 

 

 

 

 

AMP, Ltd. (Australia)

 

89,900

 

349,428

 

Life & Health Insurance

 

 

 

 

 

 

 

 

 

1,233,560

 

 

 

 

 

4,569,743

 

CONSUMER DISCRETIONARY — 23.2%

 

 

 

 

 

AUTOMOBILES & COMPONENTS — 10.9%

 

 

 

 

 

Daimler AG (Germany)

 

11,504

 

696,050

 

Automobile Manufacturers

 

 

 

 

 

Bayerische Motoren Werke (BMW) AG (Germany)

 

4,994

 

436,673

 

Automobile Manufacturers

 

 

 

 

 

Honda Motor Co., Ltd. (Japan)

 

9,200

 

341,804

 

Automobile Manufacturers

 

 

 

 

 

Toyota Motor Corp. (Japan)

 

3,981

 

240,452

 

Automobile Manufacturers

 

 

 

 

 

Continental AG (Germany)

 

1,172

 

156,493

 

Auto Parts & Equipment

 

 

 

 

 

 

 

 

 

1,871,472

 

CONSUMER DURABLES & APPAREL — 6.0%

 

 

 

 

 

Kering (France)

 

1,683

 

342,135

 

Apparel, Accessories & Luxury Goods

 

 

 

 

 

Cie Financiere Richemont SA (Switzerland)

 

3,663

 

323,966

 

Apparel, Accessories & Luxury Goods

 

 

 

 

 

LVMH Moet Hennessy Louis Vuitton SA (France)

 

1,264

 

204,822

 

Apparel, Accessories & Luxury Goods

 

 

 

 

 

Christian Dior SA (France)

 

950

 

153,356

 

Apparel, Accessories & Luxury Goods

 

 

 

 

 

 

 

 

 

1,024,279

 

MEDIA — 3.7%

 

 

 

 

 

Thomson Reuters Corp. (Canada)

 

9,904

 

323,199

 

Publishing

 

 

 

 

 

Publicis Groupe SA (France)

 

3,977

 

283,142

 

Advertising

 

 

 

 

 

Grupo Televisa SAB (Mexico) (c)

 

932

 

23,162

 

Broadcasting

 

 

 

 

 

 

 

 

 

629,503

 

RETAILING — 2.6%

 

 

 

 

 

Hennes & Mauritz AB (H&M) - Class B (Sweden)

 

10,402

 

341,858

 

Apparel Retail

 

 

 

 

 

Signet Jewelers, Ltd. (UK)

 

1,358

 

91,590

 

Specialty Stores

 

 

 

 

 

Groupe FNAC (France) (a) (d)

 

196

 

4,156

 

Department Stores

 

 

 

 

 

Groupe FNAC, Rights (France) (a) (d)

 

0

(e)

0

(e)

Department Stores

 

 

 

 

 

 

 

 

 

437,604

 

 

 

 

 

3,962,858

 

INDUSTRIALS — 16.5%

 

 

 

 

 

CAPITAL GOODS — 9.9%

 

 

 

 

 

Fiat Industrial SPA (Italy)

 

41,029

 

457,418

 

Construction & Farm Machinery & Heavy Trucks

 

 

 

 

 

Koninklijke Philips NV (Netherlands)

 

11,016

 

300,343

 

Industrial Conglomerates

 

 

 

 

 

Smiths Group PLC (UK)

 

13,885

 

276,226

 

Industrial Conglomerates

 

 

 

 

 

Atlas Copco AB, Series B (Sweden)

 

12,396

 

265,814

 

Industrial Machinery

 

 

 

 

 

SKF AB (Sweden)

 

8,663

 

202,953

 

Industrial Machinery

 

 

 

 

 

Assa Abloy AB, Class B (Sweden)

 

1,404

 

55,016

 

Building Products

 

 

 

 

 

FANUC Corp. (Japan)

 

364

 

52,761

 

Industrial Machinery

 

 

 

 

 

Wolseley PLC (UK)

 

1,131

 

52,193

 

Trading Companies & Distributors

 

 

 

 

 

Geberit AG (Switzerland)

 

94

 

23,367

 

Building Products

 

 

 

 

 

 

 

 

 

1,686,091

 

COMMERCIAL  & PROFESSIONAL SERVICES — 4.3%

 

 

 

 

 

Adecco SA (Switzerland)

 

7,009

 

399,577

 

Human Resource & Employment Services

 

 

 

 

 

Experian Group, Ltd. (Ireland)

 

9,348

 

162,508

 

Research & Consulting Services

 

 

 

 

 

Secom Co., Ltd. (Japan)

 

1,817

 

98,924

 

Security & Alarm Services

 

 

 

 

 

Meitec Corp. (Japan) (b)

 

3,291

 

76,494

 

Research & Consulting Services

 

 

 

 

 

 

 

 

 

737,503

 

 



 

 

 

Shares

 

Value

 

TRANSPORTATION — 2.3%

 

 

 

 

 

Kuehne + Nagel International AG (Switzerland)

 

3,651

 

$

400,824

 

Marine

 

 

 

 

 

 

 

 

 

2,824,418

 

CONSUMER STAPLES — 9.0%

 

 

 

 

 

FOOD, BEVERAGE & TOBACCO — 6.0%

 

 

 

 

 

Diageo PLC (UK)

 

11,417

 

326,445

 

Distillers & Vintners

 

 

 

 

 

Nestle SA (Switzerland)

 

4,853

 

318,286

 

Packaged Foods & Meats

 

 

 

 

 

Danone SA (France)

 

3,933

 

295,161

 

Packaged Foods & Meats

 

 

 

 

 

Heineken Holdings NV (Netherlands)

 

1,522

 

85,370

 

Brewers

 

 

 

 

 

 

 

 

 

1,025,262

 

FOOD & STAPLES RETAILING — 3.0%

 

 

 

 

 

Tesco PLC (UK)

 

66,395

 

334,659

 

Food Retail

 

 

 

 

 

Koninklijke Ahold NV (Netherlands)

 

12,009

 

178,740

 

Food Retail

 

 

 

 

 

 

 

 

 

513,399

 

 

 

 

 

1,538,661

 

MATERIALS — 7.9%

 

 

 

 

 

Orica, Ltd. (Australia) (b)

 

23,793

 

449,342

 

Commodity Chemicals

 

 

 

 

 

Holcim, Ltd. (Switzerland)

 

4,830

 

336,755

 

Construction Materials

 

 

 

 

 

Akzo Nobel NV (Netherlands)

 

5,791

 

326,528

 

Diversified Chemicals

 

 

 

 

 

Givaudan SA (Switzerland)

 

98

 

126,733

 

Specialty Chemicals

 

 

 

 

 

Amcor, Ltd. (Australia)

 

12,348

 

114,511

 

Paper Packaging

 

 

 

 

 

 

 

 

 

1,353,869

 

INFORMATION TECHNOLOGY — 7.8%

 

 

 

 

 

TECHNOLOGY HARDWARE & EQUIPMENT — 4.0%

 

 

 

 

 

Canon, Inc. (Japan)

 

13,168

 

429,507

 

Office Electronics

 

 

 

 

 

OMRON Corp. (Japan) (b)

 

8,533

 

253,988

 

Electronic Components

 

 

 

 

 

 

 

 

 

683,495

 

SOFTWARE & SERVICES — 2.5%

 

 

 

 

 

Check Point Software Technologies, Ltd. (Israel) (a)

 

7,100

 

352,743

 

Systems Software

 

 

 

 

 

SAP AG (Germany)

 

1,142

 

83,593

 

Application Software

 

 

 

 

 

 

 

 

 

436,336

 

SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 1.3%

 

 

 

 

 

ROHM Co., Ltd. (Japan) (b)

 

5,524

 

222,787

 

Semiconductors

 

 

 

 

 

 

 

 

 

1,342,618

 

HEALTH CARE — 3.3%

 

 

 

 

 

PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES — 2.0%

 

 

 

 

 

GlaxoSmithKline PLC (UK)

 

7,691

 

192,785

 

Pharmaceuticals

 

 

 

 

 

Novartis AG (Switzerland)

 

1,821

 

129,369

 

Pharmaceuticals

 

 

 

 

 

Roche Holding AG (Switzerland)

 

70

 

17,291

 

Pharmaceuticals

 

 

 

 

 

 

 

 

 

339,445

 

HEALTH CARE EQUIPMENT & SERVICES — 1.3%

 

 

 

 

 

Olympus Corp. (Japan) (a)

 

7,335

 

222,964

 

Health Care Equipment

 

 

 

 

 

 

 

 

 

562,409

 

TOTAL COMMON STOCKS — 94.4%
(Cost $14,230,997)

 

 

 

16,154,576

 

 

 

 

 

 

 

 

 

Par Value

 

Value

 

SHORT TERM INVESTMENTS— 4.7%

 

 

 

 

 

REPURCHASE AGREEMENT — 4.7%

 

 

 

 

 

Fixed Income Clearing Corp. Repurchase Agreement, 0.01% dated 06/28/13 due 07/01/13, repurchase price $800,849, collateralized by United States Treasury Notes, 0.625% - 0.750%, due 10/31/17 - 11/30/17, aggregate value plus accrued interest of $816,868 (Cost: $800,849)

 

$

800,849

 

800,849

 

TOTAL SHORT TERM INVESTMENTS — 4.7%
(Cost $800,849)

 

 

 

800,849

 

TOTAL INVESTMENTS — 99.1%
(Cost $15,031,846)

 

 

 

16,955,425

 

Foreign Currencies (Cost $2,191) — 0.0% (f)

 

 

 

2,195

 

Other Assets In Excess of Liabilities — 0.9%

 

 

 

156,658

 

TOTAL NET ASSETS — 100.0%

 

 

 

$

17,114,278

 

 


(a)                Non-income producing security

(b)                See Note 2 in the Notes to Schedules of Investments regarding investments in affiliated issuers.

(c)                 Sponsored American Depositary Receipt

(d)                A portion of the security out on loan.

(e)                 Amount rounds to less than 1,000.

(f)                  Amount rounds to less than 0.1%.

 



 

OAKMARK INTERNATIONAL SMALL CAP FUND

Global Diversification —June 30, 2013 (Unaudited)

 

 

 

 

 

% of Equity Investments

 

Europe 60.5%

 

 

 

 

 

 

 

 

 

United Kingdom

 

 

 

17.5

%

 

 

Switzerland

 

 

 

14.6

%

 

*

France

 

 

 

7.4

%

 

*

Italy

 

 

 

5.7

%

 

*

Germany

 

 

 

4.7

%

 

*

Netherlands

 

 

 

3.3

%

 

 

Norway

 

 

 

3.1

%

 

*

Greece

 

 

 

1.6

%

 

 

Denmark

 

 

 

1.4

%

 

*

Finland

 

 

 

1.0

%

 

 

Sweden

 

 

 

0.2

%

Asia 24.0%

 

 

 

 

 

 

 

 

 

Japan

 

 

 

19.0

%

 

 

South Korea

 

 

 

4.3

%

 

 

Hong Kong

 

 

 

0.7

%

Australasia 11.4%

 

 

 

 

 

 

 

 

 

Australia

 

 

 

10.3

%

 

 

New Zealand

 

 

 

1.1

%

Middle East 2.4%

 

 

 

 

 

 

 

 

 

Israel

 

 

 

2.4

%

North America 1.7%

 

 

 

 

 

 

 

 

 

United States

 

 

 

1.7

%

 


*      Euro currency countries comprise 23.7% of equity investments.

 



 

Oakmark International Small Cap Fund

 

June 30, 2013 (Unaudited)

Schedule of Investments (in thousands)

 

 

 

 

 

Shares

 

Value

 

COMMON STOCKS— 93.8%

 

 

 

 

 

INDUSTRIALS — 29.3%

 

 

 

 

 

CAPITAL GOODS — 13.7%

 

 

 

 

 

Rheinmetall AG (Germany)

 

1,020

 

$

47,552

 

Industrial Conglomerates

 

 

 

 

 

Interpump Group SpA (Italy)

 

4,507

 

40,184

 

Industrial Machinery

 

 

 

 

 

Saft Groupe SA (France) (b)

 

1,340

 

31,808

 

Electrical Components & Equipment

 

 

 

 

 

Travis Perkins PLC (UK)

 

1,376

 

30,463

 

Trading Companies & Distributors

 

 

 

 

 

Prysmian SpA (Italy)

 

1,500

 

28,009

 

Electrical Components & Equipment

 

 

 

 

 

Morgan Advanced Materials PLC (UK)

 

7,069

 

27,942

 

Industrial Machinery

 

 

 

 

 

Bucher Industries AG (Switzerland)

 

101

 

24,083

 

Construction & Farm Machinery & Heavy Trucks

 

 

 

 

 

Konecranes OYJ (Finland)

 

604

 

17,228

 

Industrial Machinery

 

 

 

 

 

NORMA Group AG (Germany)

 

181

 

6,560

 

Industrial Machinery

 

 

 

 

 

 

 

 

 

253,829

 

COMMERCIAL  & PROFESSIONAL SERVICES — 9.2%

 

 

 

 

 

Michael Page International PLC (UK)

 

8,650

 

48,808

 

Human Resource & Employment Services

 

 

 

 

 

Kaba Holding AG (Switzerland)

 

125

 

46,843

 

Security & Alarm Services

 

 

 

 

 

gategroup Holding AG (Switzerland) (a) (b)

 

1,640

 

34,380

 

Diversified Support Services

 

 

 

 

 

Randstad Holding N.V. (Netherlands)

 

664

 

27,221

 

Human Resource & Employment Services

 

 

 

 

 

SThree PLC (UK)

 

2,064

 

10,415

 

Human Resource & Employment Services

 

 

 

 

 

Cision AB (Sweden)

 

628

 

3,698

 

Research & Consulting Services

 

 

 

 

 

 

 

 

 

171,365

 

TRANSPORTATION — 6.4%

 

 

 

 

 

Panalpina Welttransport Holding AG (Switzerland)

 

433

 

46,735

 

Air Freight & Logistics

 

 

 

 

 

BBA Aviation PLC (UK)

 

6,491

 

27,651

 

Airport Services

 

 

 

 

 

DSV AS (Denmark)

 

1,000

 

24,370

 

Trucking

 

 

 

 

 

Freightways, Ltd. (New Zealand)

 

5,712

 

19,743

 

Air Freight & Logistics

 

 

 

 

 

 

 

 

 

118,499

 

 

 

 

 

543,693

 

INFORMATION TECHNOLOGY — 18.6%

 

 

 

 

 

SOFTWARE & SERVICES — 11.1%

 

 

 

 

 

Atea ASA (Norway) (b)

 

5,387

 

54,316

 

IT Consulting & Other Services

 

 

 

 

 

Altran Technologies SA (France) (a)

 

6,286

 

43,526

 

IT Consulting & Other Services

 

 

 

 

 

Alten, Ltd. (France)

 

1,216

 

41,520

 

IT Consulting & Other Services

 

 

 

 

 

Capcom Co., Ltd. (Japan)

 

2,304

 

37,287

 

Home Entertainment Software

 

 

 

 

 

Square Enix Holdings Co., Ltd. (Japan)

 

2,462

 

29,635

 

Home Entertainment Software

 

 

 

 

 

 

 

 

 

206,284

 

TECHNOLOGY HARDWARE & EQUIPMENT — 7.5%

 

 

 

 

 

Premier Farnell PLC (UK)

 

15,062

 

46,275

 

Technology Distributors

 

 

 

 

 

Orbotech, Ltd. (Israel) (a) (b)

 

3,338

 

41,520

 

Electronic Equipment & Instruments

 

 

 

 

 

Hirose Electric Co., Ltd. (Japan)

 

229

 

30,214

 

Electronic Components

 

 

 

 

 

Konica Minolta, Inc. (Japan)

 

2,856

 

21,568

 

Office Electronics

 

 

 

 

 

 

 

 

 

139,577

 

 

 

 

 

345,861

 

CONSUMER DISCRETIONARY — 13.3%

 

 

 

 

 

AUTOMOBILES & COMPONENTS — 6.2%

 

 

 

 

 

Nifco, Inc. (Japan)

 

1,895

 

40,143

 

Auto Parts & Equipment

 

 

 

 

 

Autoliv, Inc. (United States)

 

388

 

30,004

 

Auto Parts & Equipment

 

 

 

 

 

Takata Corp. (Japan)

 

1,112

 

24,005

 

Auto Parts & Equipment

 

 

 

 

 

Yamaha Motor Co., Ltd. (Japan)

 

1,584

 

20,519

 

Motorcycle Manufacturers

 

 

 

 

 

 

 

 

 

114,671

 

RETAILING — 4.3%

 

 

 

 

 

Myer Holdings, Ltd. (Australia)

 

18,404

 

40,059

 

Department Stores

 

 

 

 

 

Carpetright PLC (UK) (a)

 

3,168

 

28,189

 

Home Improvement Retail

 

 

 

 

 

Hengdeli Holdings, Ltd. (Hong Kong)

 

56,176

 

12,747

 

Specialty Stores

 

 

 

 

 

 

 

 

 

80,995

 

MEDIA — 1.8%

 

 

 

 

 

Asatsu-DK, Inc. (Japan)

 

1,405

 

32,712

 

Advertising

 

 

 

 

 

CONSUMER DURABLES & APPAREL — 1.0%

 

 

 

 

 

Vitec Group PLC (UK)

 

2,101

 

18,371

 

Photographic Products

 

 

 

 

 

 

 

 

 

246,749

 

FINANCIALS — 12.7%

 

 

 

 

 

DIVERSIFIED FINANCIALS — 6.0%

 

 

 

 

 

Julius Baer Group, Ltd. (Switzerland)

 

1,622

 

63,359

 

Asset Management & Custody Banks

 

 

 

 

 

MLP AG (Germany)

 

4,568

 

27,802

 

Asset Management & Custody Banks

 

 

 

 

 

Azimut Holding SPA (Italy)

 

635

 

11,562

 

Asset Management & Custody Banks

 

 

 

 

 

 



 

 

 

Shares

 

Value

 

Ichiyoshi Securities Co., Ltd. (Japan)

 

751

 

$

8,901

 

Investment Banking & Brokerage

 

 

 

 

 

 

 

 

 

111,624

 

BANKS — 4.0%

 

 

 

 

 

BS Financial Group, Inc. (South Korea)

 

3,427

 

43,359

 

Regional Banks

 

 

 

 

 

DGB Financial Group, Inc. (South Korea)

 

2,337

 

31,919

 

Regional Banks

 

 

 

 

 

 

 

 

 

75,278

 

REAL ESTATE — 2.7%

 

 

 

 

 

LSL Property Services PLC (UK) (b)

 

8,989

 

49,559

 

Real Estate Services

 

 

 

 

 

 

 

 

 

236,461

 

MATERIALS — 7.9%

 

 

 

 

 

Incitec Pivot, Ltd. (Australia)

 

22,019

 

57,593

 

Diversified Chemicals

 

 

 

 

 

Titan Cement Co. SA (Greece) (a)

 

1,567

 

27,257

 

Construction Materials

 

 

 

 

 

Sika AG (Switzerland)

 

9

 

23,954

 

Specialty Chemicals

 

 

 

 

 

Kansai Paint Co., Ltd. (Japan)

 

1,842

 

23,513

 

Specialty Chemicals

 

 

 

 

 

Taiyo Holdings Co., Ltd. (Japan)

 

334

 

10,807

 

Specialty Chemicals

 

 

 

 

 

Nihon Parkerizing Co., Ltd. (Japan)

 

179

 

3,540

 

Specialty Chemicals

 

 

 

 

 

 

 

 

 

146,664

 

CONSUMER STAPLES — 7.4%

 

 

 

 

 

FOOD, BEVERAGE & TOBACCO — 4.8%

 

 

 

 

 

Goodman Fielder, Ltd. (Australia) (a)

 

77,493

 

52,090

 

Packaged Foods & Meats

 

 

 

 

 

Treasury Wine Estates, Ltd. (Australia)

 

3,944

 

20,991

 

Distillers & Vintners

 

 

 

 

 

Britvic PLC (UK)

 

2,186

 

17,056

 

Soft Drinks

 

 

 

 

 

 

 

 

 

90,137

 

FOOD & STAPLES RETAILING — 2.6%

 

 

 

 

 

Sugi Holdings Co., Ltd. (Japan)

 

1,262

 

47,986

 

Drug Retail

 

 

 

 

 

 

 

 

 

138,123

 

HEALTH CARE — 2.4%

 

 

 

 

 

HEALTH CARE EQUIPMENT & SERVICES — 1.5%

 

 

 

 

 

Amplifon S.p.A. (Italy)

 

3,980

 

19,923

 

Health Care Distributors

 

 

 

 

 

Primary Health Care, Ltd. (Australia)

 

1,763

 

7,705

 

Health Care Services

 

 

 

 

 

 

 

 

 

27,628

 

PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES — 0.9%

 

 

 

 

 

Tecan Group AG (Switzerland)

 

173

 

15,999

 

Life Sciences Tools & Services

 

 

 

 

 

 

 

 

 

43,627

 

ENERGY — 2.2%

 

 

 

 

 

Fugro NV (Netherlands)

 

557

 

30,180

 

Oil & Gas Equipment & Services

 

 

 

 

 

CGG (France) (a)

 

522

 

11,551

 

Oil & Gas Equipment & Services

 

 

 

 

 

 

 

 

 

41,731

 

TOTAL COMMON STOCKS — 93.8%
(Cost $1,610,773)

 

 

 

1,742,909

 

 

 

 

 

 

 

 

 

Par Value

 

Value

 

SHORT TERM INVESTMENTS— 4.8%

 

 

 

 

 

REPURCHASE AGREEMENT — 4.8%

 

 

 

 

 

Fixed Income Clearing Corp. Repurchase Agreement, 0.01% dated 06/28/13 due 07/01/13, repurchase price $89,078, collateralized by a Federal Home Loan Mortgage Corp. Bond, 1.600%, due 01/09/20, value plus accrued interest of $90,861 (Cost: $89,078)

 

$

89,078

 

89,078

 

TOTAL SHORT TERM INVESTMENTS — 4.8%
(Cost $89,078)

 

 

 

89,078

 

TOTAL INVESTMENTS — 98.6%
(Cost $1,699,851)

 

 

 

1,831,987

 

Foreign Currencies (Cost $998) — 0.1%

 

 

 

1,000

 

Other Assets In Excess of Liabilities — 1.3%

 

 

 

24,294

 

TOTAL NET ASSETS — 100.0%

 

 

 

$

1,857,281

 

 


(a)   Non-income producing security

(b)   See Note 2 in the Notes to Schedules of Investments regarding investments in affiliated issuers.

 



 

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 open-end management investment company organized as a Massachusetts business trust 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 in accordance with the 1940 Act.

 

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 are 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 are based on a pricing composite as of the close of the regular trading hours on the appropriate exchange or other designated time. Each long-term debt instrument is valued at the latest bid quotation or an evaluated price provided by an independent pricing service. The pricing service may use standard inputs such as benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data including market research publications.  For certain security types additional inputs may be used or some of the standard inputs may not be applicable.  Additionally, the pricing service monitors market indicators and industry and economic events, which may serve as a trigger to gather and possibly use additional market data. Each short-term debt instrument (i.e., debt instruments whose maturities or expiration dates at the time of acquisition are one year or less) or money market instrument maturing in 61 days or more from the date of valuation is valued at the latest bid quotation or an evaluated price provided by an independent pricing service. Each short-term instrument maturing in 60 days or less from the date of valuation is valued at amortized cost, which approximates market 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 value, determined by or under the direction of the pricing committee authorized 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 pricing service to value foreign securities in order to adjust local closing prices for information or events that may occur between the close of certain foreign exchanges and the close of the NYSE.

 

Fair value measurement—

 

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 Funds’ 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 Funds recognize transfers between level 1 and 2 at the end of the reporting cycle. At the period ended June 30, 2013 Equity and Income had a transfer from level 2 to level 1 in the amount of $457,572,258.  The transfer was due to a security no longer being valued based on observable market prices of similar assets, but instead by a market quotation.

 

The following is a summary of the inputs used as of June 30, 2013 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. Information on forward foreign currency contracts is presented by contract in the notes following the below summary:

 

 

 

Quoted Prices

 

 

 

 

 

 

 

in Active

 

Other

 

 

 

 

 

Markets for

 

Significant

 

Significant

 

 

 

Identical

 

Observable

 

Unobservable

 

 

 

Assets

 

Inputs

 

Inputs

 

(in thousands)

 

(Level 1)

 

(Level 2)

 

(Level 3)

 

Oakmark

 

 

 

 

 

 

 

Common Stocks

 

$

9,068,532

 

$

0

 

$

0

 

Short Term Investments

 

0

 

578,587

 

0

 

Total

 

$

9,068,532

 

$

578,587

 

$

0

 

Select

 

 

 

 

 

 

 

Common Stocks

 

$

3,580,938

 

$

0

 

$

0

 

Short Term Investments

 

0

 

163,869

 

0

 

Total

 

$

3,580,938

 

$

163,869

 

$

0

 

Equity and Income

 

 

 

 

 

 

 

Common Stocks

 

$

13,838,140

 

$

0

 

$

0

 

Fixed Income

 

0

 

2,686,138

 

0

 

Short Term Investments

 

0

 

1,976,865

 

0

 

Total

 

$

13,838,140

 

$

4,663,003

 

$

0

 

Global

 

 

 

 

 

 

 

Common Stocks

 

$

2,415,363

 

$

0

 

$

0

 

Short Term Investments

 

0

 

70,728

 

0

 

Forward Foreign Currency Contracts - Assets

 

0

 

9,475

 

0

 

Total

 

$

2,415,363

 

$

80,203

 

$

0

 

Global Select

 

 

 

 

 

 

 

Common Stocks

 

$

853,469

 

$

0

 

$

0

 

Short Term Investments

 

0

 

47,199

 

0

 

Forward Foreign Currency Contracts - Assets

 

0

 

991

 

0

 

Total

 

$

853,469

 

$

48,190

 

$

0

 

International

 

 

 

 

 

 

 

Common Stocks

 

$

16,154,576

 

$

0

 

$

0

 

Short Term Investments

 

0

 

800,849

 

0

 

Forward Foreign Currency Contracts - Assets

 

0

 

85,391

 

0

 

Forward Foreign Currency Contracts - Liabilities

 

0

 

(379

)

0

 

Total

 

$

16,154,576

 

$

885,861

 

$

0

 

Int’l Small Cap

 

 

 

 

 

 

 

Common Stocks

 

$

1,742,909

 

$

0

 

$

0

 

Short Term Investments

 

0

 

89,078

 

0

 

Forward Foreign Currency Contracts - Assets

 

0

 

15,755

 

0

 

Total

 

$

1,742,909

 

$

104,833

 

$

0

 

 



 

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. issuers. 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—

 

Forward foreign currency contracts are agreements to exchange one currency for another at a future date and at a specified price.  The Funds’ transactions in forward foreign currency contracts are limited to transaction 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 and could exceed the net unrealized value shown in the tables below.  Risks arise from the possible inability of counterparties to meet the terms of their contracts and from movements in currency values.  Forward foreign currency contracts are valued at the current day’s interpolated foreign exchange rates.  Unrealized gain or loss on the contracts is measured by the difference between the forward foreign exchange rates at the dates of entry into the contracts and the forward rates at the end of the period.

 

At June 30, 2013 Global, Global Select, International, and Int’l Small Cap held forward foreign currency contracts, which are considered derivative instruments, each of whose counterparty is State Street Bank & Trust, as follows (in thousands):

 

Global

 

 

 

Contract
Amount

 

Settlement
Date

 

Valuation at
6/30/13

 

Unrealized
Appreciation/
(Depreciation)

 

Foreign Currency Bought:

 

 

 

 

 

 

 

 

 

Swiss Franc

 

11,300

 

09/18/13

 

$

11,973

 

$

338

 

 

 

 

 

 

 

$

11,973

 

$

338

 

Foreign Currency Sold:

 

 

 

 

 

 

 

 

 

Australian Dollar

 

37,900

 

12/18/13

 

$

34,246

 

$

4,309

 

Japanese Yen

 

5,950,000

 

08/19/13

 

60,005

 

2,733

 

Swiss Franc

 

80,500

 

09/18/13

 

85,291

 

2,095

 

 

 

 

 

 

 

$

179,542

 

$

9,137

 

 



 

During the period ended June 30, 2013, the proceeds from forward foreign currency contracts opened for Global were $197,866 and the cost to close contracts was $364,179 (in thousands).

 

Global Select

 

 

 

Contract
Amount

 

Settlement
Date

 

Valuation at
6/30/13

 

Unrealized
Appreciation/
(Depreciation)

 

Foreign Currency Sold:

 

 

 

 

 

 

 

 

 

Japanese Yen

 

805,000

 

08/19/13

 

$

8,118

 

$

370

 

Swiss Franc

 

23,860

 

09/18/13

 

25,280

 

621

 

 

 

 

 

 

 

$

33,398

 

$

991

 

 

During the period ended June 30, 2013, the proceeds from forward foreign currency contracts opened for Global Select were $34,389 and the cost to close contracts was $57,971 (in thousands).

 

International

 

 

 

Contract
Amount

 

Settlement
Date

 

Valuation at
6/30/13

 

Unrealized
Appreciation/
(Depreciation)

 

Foreign Currency Bought:

 

 

 

 

 

 

 

 

 

Swedish Krona

 

60,500

 

09/18/13

 

$

9,006

 

$

(256

)

Swiss Franc

 

162,000

 

09/18/13

 

171,641

 

4,837

 

 

 

 

 

 

 

$

180,647

 

$

4,581

 

Foreign Currency Sold:

 

 

 

 

 

 

 

 

 

Australian Dollar

 

460,000

 

12/18/13

 

$

415,653

 

$

52,237

 

Japanese Yen

 

22,800,000

 

08/19/13

 

229,936

 

10,472

 

Swedish Krona

 

1,379,000

 

09/18/13

 

205,271

 

1,280

 

Swiss Franc

 

736,000

 

09/18/13

 

779,803

 

16,442

 

 

 

 

 

 

 

$

1,630,663

 

$

80,431

 

 

During the period ended June 30, 2013, the proceeds from forward foreign currency contracts opened for International were $1,818,607 and the cost to close contracts was $1,852,301 (in thousands).

 

Int’l Small Cap

 

 

 

Contract
Amount

 

Settlement
Date

 

Valuation at
6/30/13

 

Unrealized
Appreciation/
(Depreciation)

 

Foreign Currency Bought:

 

 

 

 

 

 

 

 

 

Swedish Krona

 

4,190

 

09/18/13

 

$

624

 

$

1

 

Swiss Franc

 

16,400

 

09/18/13

 

17,376

 

490

 

 

 

 

 

 

 

$

18,000

 

$

491

 

Foreign Currency Sold:

 

 

 

 

 

 

 

 

 

Australian Dollar

 

94,000

 

12/18/13

 

$

84,938

 

$

10,688

 

Japanese Yen

 

3,100,000

 

08/19/13

 

31,263

 

1,424

 

Norwegian Krona

 

191,100

 

09/18/13

 

31,372

 

1,413

 

Swedish Krona

 

12,200

 

09/18/13

 

1,816

 

19

 

Swiss Franc

 

66,100

 

09/18/13

 

70,034

 

1,720

 

 

 

 

 

 

 

$

219,423

 

$

15,264

 

 



 

During the period ended June 30, 2013, the proceeds from forward foreign currency contracts opened for Int’l Small Cap were $200,067 and the cost to close contracts was $318,586 (in thousands).

 

Short sales —

 

Each Fund may sell a security it does not own in anticipation of a decline in the fair value of that security. When a 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, 2013, 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 Funds’ 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, cash equivalents or U.S. Treasurys 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 continues to receive the equivalent of the interest or dividends paid by the issuer on the securities loaned and also receives an additional return that may be in the form of a fixed fee or a percentage of the earnings on the collateral. The Fund has 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, 2013, Equity and Income, Global Select and International had securities on loan with a value of $24,308,900, $381,824 and $4,085,695 respectively, and held as collateral for the loans U.S. Treasury securities with a value of $24,799,392, $411,938 and $4,415,537 respectively.

 


 


 

Restricted securities —

 

The following investments, the sales of which are subject to restrictions on resale under federal securities laws, have been valued in good faith according to the securities valuation procedures established by the Board of Trustees (as stated in the Security valuation section) since their acquisition dates.

 

At June 30, 2013, Equity and Income held the following restricted securities:

 

Equity and Income

 

Par (000)

 

Security Name

 

Acquisition
Date

 

Carrying
Value

 

Original Cost

 

Value (000)

 

Percentage of
Net Assets

 

3,000

 

BP Capital Markets PLC, 144A, 0.11%, due 07/31/13

 

6/25/13

 

99.9908

 

99.9890

 

3,000

 

0.02

%

11,450

 

Cabela’s Master Credit Card Trust, 144A, 0.743%, due 10/15/19

 

10/20/11

 

100.1822

 

100.0000

 

11,471

 

0.06

%

250

 

CNO Financial Group, Inc., 144A, 6.375%, due 10/01/20

 

9/20/12

 

106.2500

 

100.0000

 

266

 

0.00

%*

30,000

 

General Mills Inc., 144A, 0.13%, due 07/02/13

 

6/14/13

 

99.9996

 

99.9935

 

30,000

 

0.16

%

25,000

 

General Mills Inc., 144A, 0.13%, due 07/17/13

 

6/27/13

 

99.9942

 

99.9928

 

24,999

 

0.14

%

21,667

 

General Mills Inc., 144A, 0.15%, due 07/12/13

 

5/22/13

 

99.9954

 

99.9787

 

21,666

 

0.12

%

20,000

 

General Mills Inc., 144A, 0.12%, due 07/01/13

 

6/17/13

 

100.0000

 

99.9953

 

20,000

 

0.11

%

20,000

 

General Mills Inc., 144A, 0.17%, due 07/18/13

 

6/26/13

 

99.9920

 

99.9896

 

19,998

 

0.11

%

15,000

 

General Mills Inc., 144A, 0.13%, due 07/18/13

 

6/24/13

 

99.9939

 

99.9913

 

14,999

 

0.08

%

10,000

 

General Mills Inc., 144A, 0.12%, due 07/15/13

 

6/28/13

 

99.9953

 

99.9943

 

10,000

 

0.05

%

5,000

 

General Mills Inc., 144A, 0.13%, due 07/11/13

 

6/18/13

 

99.9964

 

99.9917

 

5,000

 

0.03

%

3,000

 

General Mills Inc., 144A, 0.15%, due 07/02/13

 

6/14/13

 

99.9996

 

99.9925

 

3,000

 

0.02

%

35,000

 

Kellogg Co., 144A, 0.15%, due 07/19/13

 

6/20/13

 

99.9925

 

99.9879

 

34,997

 

0.19

%

25,000

 

Kellogg Co., 144A, 0.16%, due 07/16/13

 

6/18/13

 

99.9933

 

99.9876

 

24,998

 

0.14

%

25,000

 

Kellogg Co., 144A, 0.15%, due 07/25/13

 

6/21/13

 

99.9900

 

99.9858

 

24,998

 

0.14

%

15,000

 

Kellogg Co., 144A, 0.15%, due 07/15/13

 

6/19/13

 

99.9942

 

99.9892

 

14,999

 

0.08

%

15,000

 

Kellogg Co., 144A, 0.16%, due 07/17/13

 

6/18/13

 

99.9929

 

99.9871

 

14,999

 

0.08

%

10,000

 

Kellogg Co., 144A, 0.16%, due 07/11/13

 

6/18/13

 

99.9956

 

99.9898

 

10,000

 

0.05

%

9,605

 

Live Nation Entertainment, Inc., 144A, 7.00%, due 09/01/20

 

8/15/12

 

105.1250

 

100.0000

 

10,097

 

0.05

%

25,000

 

Medtronic, Inc., 144A, 0.07%, due 07/02/13

 

6/21/13

 

99.9998

 

99.9979

 

25,000

 

0.14

%

4,000

 

Medtronic, Inc., 144A, 0.08%, due 07/09/13

 

6/26/13

 

99.9982

 

99.9971

 

4,000

 

0.02

%

6,000

 

Scotiabank Peru SA, 144A, 4.50%, due 12/13/27

 

12/6/12

 

89.7500

 

100.0000

 

5,385

 

0.03

%

2,725

 

Serta Simmons Holdings LLC, 144A, 8.125%, due 10/01/20

 

9/27/12

 

101.7500

 

99.8750

 

2,773

 

0.01

%

2,265

 

Serta Simmons Holdings LLC, 144A, 8.125%, due 10/01/20

 

9/26/12

 

101.7500

 

99.0000

 

2,304

 

0.01

%

6,820

 

Six Flags Entertainment Corp., 144A, 5.25%, due 01/15/21

 

12/11/12

 

96.5000

 

100.0000

 

6,581

 

0.04

%

3,150

 

Six Flags Entertainment Corp., 144A, 5.25%, due 01/15/21

 

12/11/12

 

96.5000

 

101.0000

 

3,040

 

0.02

%

100

 

Tempur Sealy International, Inc., 144A, 6.875%, due 12/15/20

 

12/12/12

 

105.5000

 

100.0000

 

106

 

0.00

%*

50,000

 

Wal-Mart Stores, Inc., 144A, 0.06%, due 07/09/13

 

6/20/13

 

99.9987

 

99.9968

 

49,999

 

0.27

%

5,390

 

Walter Energy, Inc., 144A, 9.875%, due 12/15/20

 

11/16/12

 

87.0000

 

99.3020

 

4,689

 

0.03

%

5,000

 

Walter Energy, Inc., 144A, 8.50%, due 04/15/21

 

3/22/13

 

80.0000

 

100.0000

 

4,000

 

0.02

%

25,000

 

Wellpoint, Inc., 144A, 0.21%, due 07/01/13

 

5/7/13

 

100.0000

 

99.9679

 

25,000

 

0.14

%

25,000

 

Wellpoint, Inc., 144A, 0.21%, due 07/08/13

 

5/9/13

 

99.9959

 

99.9650

 

24,999

 

0.14

%

25,000

 

Wellpoint, Inc., 144A, 0.25%, due 07/16/13

 

4/29/13

 

99.9896

 

99.9458

 

24,997

 

0.14

%

15,000

 

Wellpoint, Inc., 144A, 0.21%, due 07/10/13

 

5/9/13

 

99.9948

 

99.9638

 

14,999

 

0.08

%

15,000

 

Wellpoint, Inc., 144A, 0.21%, due 07/12/13

 

5/10/13

 

99.9936

 

99.9633

 

14,999

 

0.08

%

10,000

 

Wellpoint, Inc., 144A, 0.21%, due 07/10/13

 

5/10/13

 

99.9948

 

99.9644

 

10,000

 

0.04

%

10,000

 

Wellpoint, Inc., 144A, 0.21%, due 08/22/13

 

6/24/13

 

99.9697

 

99.9656

 

9,997

 

0.04

%

 

 

 

 

 

 

 

 

 

 

$

532,355

 

2.88

%

 


* Amount rounds to less than 0.01%

 



 

2. INVESTMENTS IN AFFILIATED ISSUERS

 

Each of the companies listed below was considered to be an affiliate of a Fund because that Fund owned 5% or more of the company’s voting securities during all or part of the nine month period ended June 30, 2013. Purchase and sale transactions and dividend and interest income earned during the period on these securities are set forth below (in thousands):

 

Schedule of Transactions with Affiliated Issuers

Oakmark Equity and Income Fund

 

Affiliates

 

Shares
Held/Par

 

Purchases
(Cost)

 

Sales
(Proceeds)

 

Dividend
Income

 

Interest
Income

 

Value
September 30,
2012

 

Value
June 30, 2013

 

Broadridge Financial Solutions, Inc. (b)

 

5,904

 

$

0

 

$

22,155

 

$

3,367

 

$

0

 

$

160,977

 

$

156,915

 

Flowserve Corp. (b)

 

6,926

 

0

 

221,453

 

3,660

 

0

 

464,869

 

374,079

 

PharMerica Corp. (a) (b) (c)

 

0

 

0

 

25,011

 

0

 

0

 

21,649

 

0

 

Varian Medical Systems, Inc. (a) (b)

 

3,363

 

0

 

167,350

 

0

 

0

 

343,824

 

226,863

 

Walter Energy, Inc. (b) (c)

 

0

 

41,988

 

50,732

 

1,317

 

0

 

97,380

 

0

 

Walter Energy, Inc., 144A, 9.875%, due 12/15/20 (b)

 

5,390

 

5,362

 

11

 

0

 

325

 

0

 

4,689

 

Walter Energy, Inc., 144A, 8.50%, due 04/15/21 (b)

 

5,000

 

5,000

 

0

 

0

 

111

 

0

 

4,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTALS

 

 

 

$

52,350

 

$

486,712

 

$

8,344

 

$

436

 

$

1,088,699

 

$

766,546

 

 

Schedule of Transactions with Affiliated Issuers

Oakmark International Fund

 

Affiliates

 

Shares Held

 

Purchases
(Cost)

 

Sales
(Proceeds)

 

Dividend
Income

 

Value
September 30,
2012

 

Value
June 30, 2013

 

Meitec Corp.

 

3,291

 

$

12,644

 

$

2,903

 

$

2,410

 

$

64,836

 

$

76,494

 

OMRON Corp. (b)

 

8,533

 

77,322

 

218,321

 

3,547

 

241,978

 

253,988

 

Orica, Ltd.

 

23,793

 

455,709

 

865

 

11,502

 

131,315

 

449,342

 

ROHM Co., Ltd. (b)

 

5,524

 

56,705

 

101,061

 

36

 

219,315

 

222,787

 

Willis Group Holdings PLC

 

10,184

 

210,424

 

8,670

 

7,475

 

165,516

 

415,294

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTALS

 

 

 

$

812,804

 

$

331,820

 

$

24,970

 

$

822,960

 

$

1,417,905

 

 

Schedule of Transactions with Affiliated Issuers

Oakmark International Small Cap Fund

 

Affiliates

 

Shares Held

 

Purchases
(Cost)

 

Sales
(Proceeds)

 

Dividend
Income

 

Value
September 30,
2012

 

Value
June 30, 2013

 

Atea ASA

 

5,387

 

$

1,881

 

$

3,123

 

$

4,929

 

$

53,914

 

$

54,316

 

gategroup Holding AG (a)

 

1,640

 

7,850

 

0

 

0

 

31,635

 

34,380

 

LSL Property Services PLC

 

8,989

 

0

 

7,528

 

983

 

35,183

 

49,559

 

Orbotech, Ltd. (a)

 

3,338

 

0

 

0

 

0

 

28,603

 

41,520

 

Pasona Group, Inc. (b) (c)

 

0

 

0

 

16,741

 

0

 

20,938

 

0

 

Saft Groupe SA

 

1,340

 

35,574

 

0

 

1,117

 

0

 

31,808

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTALS

 

 

 

$

45,305

 

$

27,392

 

$

7,029

 

$

170,273

 

$

211,583

 

 



 


(a) Non-income producing security.

(b) Due to transactions during the period ended June 30, 2013, the company is no longer an affiliated security.

(c) Position in issuer liquidated during the period ended June 30, 2013.

 



 

3. FEDERAL INCOME TAXES

 

At June 30, 2013 the cost of investments for federal income tax purposes and related composition of unrealized gains and losses for each Fund were as follows (in thousands):

 

Fund

 

Cost of Investments
for Federal Income
Tax Purposes

 

Gross Unrealized
 Appreciation

 

Gross Unrealized
 (Depreciation)

 

Net Unrealized
Appreciation
(Depreciation)

 

Oakmark

 

6,976,113

 

2,694,834

 

(23,828

)

2,671,006

 

Select

 

2,540,971

 

1,216,447

 

(12,612

)

1,203,835

 

Equity and Income

 

14,517,385

 

4,084,243

 

(100,485

)

3,983,758

 

Global

 

2,096,382

 

495,111

 

(105,402

)

389,709

 

Global Select

 

778,545

 

131,663

 

(9,541

)

122,122

 

International

 

15,224,789

 

2,206,330

 

(475,695

)

1,730,635

 

Int’l Small Cap

 

1,722,864

 

221,426

 

(112,303

)

109,123

 

 



 

4.  SUBSEQUENT EVENTS

 

Management has evaluated the possibility of subsequent events existing in the Funds’ schedule of investments. Management has determined that there are no material events that would require disclosure in the Funds’ schedule of investments through the date of the publication of this report.

 



 

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(a)), 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/ Kristi L. Rowsell

 

 

Kristi L. Rowsell

 

 

Principal Executive Officer

 

Date:

August 20, 2013

 

 

 

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/ Kristi L. Rowsell

 

 

Kristi L. Rowsell

 

 

Principal Executive Officer

 

Date:

August 20, 2013

 

 

 

 

 

 

 

By:

/s/ Thomas E. Herman

 

 

Thomas E. Herman

 

 

Principal Financial Officer

 

Date:

August 20, 2013