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) | |||||||||
| |||||||||
Registrants telephone number, including area code: |
(312) 621-0600 |
| |||||||
| |||||||||
Date of fiscal year end: |
9/30/14 |
| |||||||
| |||||||||
Date of reporting period: |
12/31/13 |
| |||||||
Item 1. Schedule of Investments.
Oakmark Fund |
December 31, 2013 (Unaudited) |
Schedule of Investments (in thousands) |
|
|
|
Shares |
|
Value |
| |
COMMON STOCKS 94.2% |
|
|
|
|
| |
FINANCIALS 24.1% |
|
|
|
|
| |
DIVERSIFIED FINANCIALS 14.8% |
|
|
|
|
| |
Bank of America Corp. |
|
23,950 |
|
$ |
372,902 |
|
Other Diversified Financial Services |
|
|
|
|
| |
Capital One Financial Corp. |
|
3,753 |
|
287,502 |
| |
Consumer Finance |
|
|
|
|
| |
Franklin Resources, Inc. |
|
4,740 |
|
273,640 |
| |
Asset Management & Custody Banks |
|
|
|
|
| |
JPMorgan Chase & Co. |
|
4,495 |
|
262,868 |
| |
Other Diversified Financial Services |
|
|
|
|
| |
The Goldman Sachs Group, Inc. |
|
1,213 |
|
215,016 |
| |
Investment Banking & Brokerage |
|
|
|
|
| |
State Street Corp. |
|
2,800 |
|
205,492 |
| |
Asset Management & Custody Banks |
|
|
|
|
| |
Bank of New York Mellon Corp. |
|
5,260 |
|
183,771 |
| |
Asset Management & Custody Banks |
|
|
|
|
| |
|
|
|
|
1,801,191 |
| |
INSURANCE 7.5% |
|
|
|
|
| |
American International Group, Inc. |
|
5,295 |
|
270,310 |
| |
Multi-line Insurance |
|
|
|
|
| |
Principal Financial Group, Inc. |
|
4,429 |
|
218,409 |
| |
Life & Health Insurance |
|
|
|
|
| |
Aflac, Inc. |
|
3,210 |
|
214,428 |
| |
Life & Health Insurance |
|
|
|
|
| |
Aon PLC (b) |
|
2,500 |
|
209,725 |
| |
Insurance Brokers |
|
|
|
|
| |
|
|
|
|
912,872 |
| |
BANKS 1.8% |
|
|
|
|
| |
Wells Fargo & Co. |
|
4,820 |
|
218,828 |
| |
Diversified Banks |
|
|
|
|
| |
|
|
|
|
2,932,891 |
| |
INFORMATION TECHNOLOGY 20.6% |
|
|
|
|
| |
SOFTWARE & SERVICES 10.1% |
|
|
|
|
| |
Oracle Corp. |
|
7,080 |
|
270,881 |
| |
Systems Software |
|
|
|
|
| |
MasterCard, Inc., Class A |
|
313 |
|
261,499 |
| |
Data Processing & Outsourced Services |
|
|
|
|
| |
Microsoft Corp. |
|
5,920 |
|
221,586 |
| |
Systems Software |
|
|
|
|
| |
Google, Inc., Class A (a) |
|
179 |
|
200,607 |
| |
Internet Software & Services |
|
|
|
|
| |
Visa, Inc., Class A |
|
740 |
|
164,783 |
| |
Data Processing & Outsourced Services |
|
|
|
|
| |
Automatic Data Processing, Inc. |
|
1,430 |
|
115,558 |
| |
Data Processing & Outsourced Services |
|
|
|
|
| |
|
|
|
|
1,234,914 |
| |
TECHNOLOGY HARDWARE & EQUIPMENT 5.5% |
|
|
|
|
| |
TE Connectivity, Ltd. (b) |
|
4,686 |
|
258,226 |
| |
Electronic Manufacturing Services |
|
|
|
|
| |
Apple, Inc. |
|
381 |
|
213,783 |
| |
Computer Hardware |
|
|
|
|
| |
QUALCOMM, Inc. |
|
2,600 |
|
193,050 |
| |
Communications Equipment |
|
|
|
|
| |
|
|
|
|
665,059 |
| |
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 5.0% |
|
|
|
|
| |
Intel Corp. |
|
9,550 |
|
247,918 |
| |
Semiconductors |
|
|
|
|
| |
Texas Instruments, Inc. |
|
5,465 |
|
239,968 |
| |
Semiconductors |
|
|
|
|
| |
Applied Materials, Inc. |
|
7,160 |
|
126,660 |
| |
Semiconductor Equipment |
|
|
|
|
| |
|
|
|
|
614,546 |
| |
|
|
|
|
2,514,519 |
| |
CONSUMER DISCRETIONARY 16.0% |
|
|
|
|
| |
MEDIA 5.7% |
|
|
|
|
| |
DIRECTV (a) |
|
3,739 |
|
258,339 |
| |
Cable & Satellite |
|
|
|
|
| |
Omnicom Group, Inc. |
|
3,171 |
|
235,846 |
| |
Advertising |
|
|
|
|
| |
Comcast Corp., Class A |
|
3,940 |
|
196,527 |
| |
Cable & Satellite |
|
|
|
|
| |
|
|
|
|
690,712 |
| |
AUTOMOBILES & COMPONENTS 4.4% |
|
|
|
|
| |
Delphi Automotive PLC (b) |
|
3,984 |
|
239,558 |
| |
Auto Parts & Equipment |
|
|
|
|
| |
General Motors Co. (a) |
|
5,300 |
|
216,611 |
| |
Automobile Manufacturers |
|
|
|
|
| |
Harley-Davidson, Inc. |
|
1,102 |
|
76,302 |
| |
Motorcycle Manufacturers |
|
|
|
|
| |
|
|
|
|
532,471 |
| |
RETAILING 4.3% |
|
|
|
|
| |
Liberty Interactive Corp., Class A (a) |
|
8,370 |
|
245,650 |
| |
Catalog Retail |
|
|
|
|
| |
The Home Depot, Inc. |
|
1,957 |
|
161,098 |
| |
Home Improvement Retail |
|
|
|
|
| |
Kohls Corp. |
|
2,042 |
|
115,878 |
| |
Department Stores |
|
|
|
|
| |
|
|
|
|
522,626 |
| |
CONSUMER SERVICES 1.6% |
|
|
|
|
| |
McDonalds Corp. |
|
2,089 |
|
202,696 |
| |
Restaurants |
|
|
|
|
| |
|
|
|
|
1,948,505 |
| |
INDUSTRIALS 11.2% |
|
|
|
|
| |
CAPITAL GOODS 7.6% |
|
|
|
|
| |
Illinois Tool Works, Inc. |
|
3,060 |
|
257,285 |
| |
Industrial Machinery |
|
|
|
|
| |
Parker Hannifin Corp. |
|
1,875 |
|
241,200 |
| |
Industrial Machinery |
|
|
|
|
| |
3M Co. |
|
1,643 |
|
230,431 |
| |
Industrial Conglomerates |
|
|
|
|
| |
|
|
Shares |
|
Value |
| ||
Cummins, Inc. |
|
1,380 |
|
$ |
194,538 |
| |
Construction & Farm Machinery & Heavy Trucks |
|
|
|
|
| ||
|
|
|
|
923,454 |
| ||
TRANSPORTATION 3.6% |
|
|
|
|
| ||
FedEx Corp. |
|
2,100 |
|
301,917 |
| ||
Air Freight & Logistics |
|
|
|
|
| ||
Union Pacific Corp. |
|
850 |
|
142,800 |
| ||
Railroads |
|
|
|
|
| ||
|
|
|
|
444,717 |
| ||
|
|
|
|
1,368,171 |
| ||
HEALTH CARE 9.7% |
|
|
|
|
| ||
HEALTH CARE EQUIPMENT & SERVICES 6.6% |
|
|
|
|
| ||
UnitedHealth Group, Inc. |
|
3,460 |
|
260,538 |
| ||
Managed Health Care |
|
|
|
|
| ||
Medtronic, Inc. |
|
4,385 |
|
251,655 |
| ||
Health Care Equipment |
|
|
|
|
| ||
Covidien PLC (b) |
|
2,708 |
|
184,415 |
| ||
Health Care Equipment |
|
|
|
|
| ||
Baxter International, Inc. |
|
1,523 |
|
105,925 |
| ||
Health Care Equipment |
|
|
|
|
| ||
|
|
|
|
802,533 |
| ||
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES 3.1% |
|
|
|
|
| ||
Forest Laboratories, Inc. (a) |
|
4,950 |
|
297,148 |
| ||
Pharmaceuticals |
|
|
|
|
| ||
Merck & Co., Inc. |
|
1,587 |
|
79,406 |
| ||
Pharmaceuticals |
|
|
|
|
| ||
|
|
|
|
376,554 |
| ||
|
|
|
|
1,179,087 |
| ||
ENERGY 9.3% |
|
|
|
|
| ||
Apache Corp. |
|
2,600 |
|
223,444 |
| ||
Oil & Gas Exploration & Production |
|
|
|
|
| ||
Exxon Mobil Corp. |
|
2,167 |
|
219,300 |
| ||
Integrated Oil & Gas |
|
|
|
|
| ||
Halliburton Co. |
|
3,950 |
|
200,462 |
| ||
Oil & Gas Equipment & Services |
|
|
|
|
| ||
Devon Energy Corp. |
|
3,202 |
|
198,108 |
| ||
Oil & Gas Exploration & Production |
|
|
|
|
| ||
National Oilwell Varco, Inc. |
|
2,300 |
|
182,919 |
| ||
Oil & Gas Equipment & Services |
|
|
|
|
| ||
Cenovus Energy, Inc. (b) |
|
3,930 |
|
112,595 |
| ||
Integrated Oil & Gas |
|
|
|
|
| ||
|
|
|
|
1,136,828 |
| ||
CONSUMER STAPLES 3.3% |
|
|
|
|
| ||
FOOD, BEVERAGE & TOBACCO 2.5% |
|
|
|
|
| ||
Unilever PLC (c) |
|
4,383 |
|
180,580 |
| ||
Packaged Foods & Meats |
|
|
|
|
| ||
Nestle SA (c) |
|
1,700 |
|
125,103 |
| ||
Packaged Foods & Meats |
|
|
|
|
| ||
|
|
|
|
305,683 |
| ||
FOOD & STAPLES RETAILING 0.8% |
|
|
|
|
| ||
Wal-Mart Stores, Inc. |
|
1,265 |
|
99,543 |
| ||
Hypermarkets & Super Centers |
|
|
|
|
| ||
|
|
|
|
405,226 |
| ||
TOTAL COMMON STOCKS 94.2% |
|
|
|
11,485,227 |
| ||
|
|
|
|
|
| ||
|
|
Par Value |
|
Value |
| ||
SHORT TERM INVESTMENT 5.2% |
|
|
|
|
| ||
REPURCHASE AGREEMENT 5.2% |
|
|
|
|
| ||
Fixed Income Clearing Corp. Repurchase Agreement, 0.00% dated 12/31/13 due 01/02/14, repurchase price $635,326, collateralized by Freddie Mac Discount Notes, 0.000%, due 12/02/14 - 12/04/14, aggregate value plus accrued interest of $627,310, by a United States Treasury Note, 2.625%, due 12/31/14, value plus accrued interest of $20,726 (Cost: $635,326) |
|
$ |
635,326 |
|
635,326 |
| |
TOTAL SHORT TERM INVESTMENTS 5.2% |
|
|
|
635,326 |
| ||
TOTAL INVESTMENTS 99.4% |
|
|
|
12,120,553 |
| ||
Other Assets In Excess of Liabilities 0.6% |
|
|
|
71,547 |
| ||
TOTAL NET ASSETS 100.0% |
|
|
|
$ |
12,192,100 |
| |
(a) |
Non-income producing security |
(b) |
Foreign domiciled corporation |
(c) |
Sponsored American Depositary Receipt |
Oakmark Select Fund |
December 31, 2013 (Unaudited) |
Schedule of Investments (in thousands) |
|
|
|
Shares |
|
Value |
| ||
COMMON STOCKS 94.8% |
|
|
|
|
| ||
FINANCIALS 22.4% |
|
|
|
|
| ||
DIVERSIFIED FINANCIALS 17.1% |
|
|
|
|
| ||
Bank of America Corp. |
|
17,100 |
|
$ |
266,247 |
| |
Other Diversified Financial Services |
|
|
|
|
| ||
Capital One Financial Corp. |
|
3,450 |
|
264,305 |
| ||
Consumer Finance |
|
|
|
|
| ||
JPMorgan Chase & Co. |
|
3,800 |
|
222,224 |
| ||
Other Diversified Financial Services |
|
|
|
|
| ||
|
|
|
|
752,776 |
| ||
INSURANCE 5.3% |
|
|
|
|
| ||
American International Group, Inc. |
|
4,605 |
|
235,095 |
| ||
Multi-line Insurance |
|
|
|
|
| ||
|
|
|
|
987,871 |
| ||
CONSUMER DISCRETIONARY 21.4% |
|
|
|
|
| ||
MEDIA 8.6% |
|
|
|
|
| ||
DIRECTV (a) |
|
3,148 |
|
217,492 |
| ||
Cable & Satellite |
|
|
|
|
| ||
Comcast Corp., Class A |
|
3,250 |
|
162,110 |
| ||
Cable & Satellite |
|
|
|
|
| ||
|
|
|
|
379,602 |
| ||
AUTOMOBILES & COMPONENTS 7.6% |
|
|
|
|
| ||
TRW Automotive Holdings Corp. (a) |
|
4,500 |
|
334,755 |
| ||
Auto Parts & Equipment |
|
|
|
|
| ||
RETAILING 5.2% |
|
|
|
|
| ||
Liberty Interactive Corp., Class A (a) |
|
7,800 |
|
228,930 |
| ||
Catalog Retail |
|
|
|
|
| ||
|
|
|
|
943,287 |
| ||
INFORMATION TECHNOLOGY 20.9% |
|
|
|
|
| ||
SOFTWARE & SERVICES 10.4% |
|
|
|
|
| ||
MasterCard, Inc., Class A |
|
315 |
|
263,170 |
| ||
Data Processing & Outsourced Services |
|
|
|
|
| ||
Oracle Corp. |
|
5,200 |
|
198,952 |
| ||
Systems Software |
|
|
|
|
| ||
|
|
|
|
462,122 |
| ||
TECHNOLOGY HARDWARE & EQUIPMENT 6.5% |
|
|
|
|
| ||
TE Connectivity, Ltd. (b) |
|
5,194 |
|
286,238 |
| ||
Electronic Manufacturing Services |
|
|
|
|
| ||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 4.0% |
|
|
|
|
| ||
Intel Corp. |
|
6,447 |
|
167,364 |
| ||
Semiconductors |
|
|
|
|
| ||
Texas Instruments, Inc. |
|
200 |
|
8,782 |
| ||
Semiconductors |
|
|
|
|
| ||
|
|
|
|
176,146 |
| ||
|
|
|
|
924,506 |
| ||
HEALTH CARE 11.0% |
|
|
|
|
| ||
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES 5.7% |
|
|
|
|
| ||
Forest Laboratories, Inc. (a) |
|
4,200 |
|
|
252,126 |
| |
Pharmaceuticals |
|
|
|
|
| ||
HEALTH CARE EQUIPMENT & SERVICES 5.3% |
|
|
|
|
| ||
Medtronic, Inc. |
|
4,100 |
|
235,299 |
| ||
Health Care Equipment |
|
|
|
|
| ||
|
|
|
|
487,425 |
| ||
INDUSTRIALS 8.1% |
|
|
|
|
| ||
TRANSPORTATION 4.7% |
|
|
|
|
| ||
FedEx Corp. |
|
1,450 |
|
208,466 |
| ||
Air Freight & Logistics |
|
|
|
|
| ||
CAPITAL GOODS 3.4% |
|
|
|
|
| ||
Kennametal, Inc. |
|
2,902 |
|
151,104 |
| ||
Industrial Machinery |
|
|
|
|
| ||
|
|
|
|
359,570 |
| ||
ENERGY 6.6% |
|
|
|
|
| ||
Apache Corp. |
|
1,910 |
|
164,145 |
| ||
Oil & Gas Exploration & Production |
|
|
|
|
| ||
Cenovus Energy, Inc. (b) |
|
3,173 |
|
90,907 |
| ||
Integrated Oil & Gas |
|
|
|
|
| ||
Newfield Exploration Co. (a) |
|
1,407 |
|
34,665 |
| ||
Oil & Gas Exploration & Production |
|
|
|
|
| ||
|
|
|
|
289,717 |
| ||
UTILITIES 4.4% |
|
|
|
|
| ||
Calpine Corp. (a) |
|
10,004 |
|
195,186 |
| ||
Independent Power Producers & Energy Traders |
|
|
|
|
| ||
TOTAL COMMON STOCKS 94.8% |
|
|
|
4,187,562 |
| ||
|
|
|
|
|
| ||
|
|
Par Value |
|
Value |
| ||
SHORT TERM INVESTMENTS 6.5% |
|
|
|
|
| ||
REPURCHASE AGREEMENT 6.5% |
|
|
|
|
| ||
Fixed Income Clearing Corp. Repurchase Agreement, 0.00% dated 12/31/13 due 01/02/14, repurchase price $287,064, collateralized by a Federal National Mortgage Association Bond, 0.500%, due 09/28/15, value plus accrued interest of $88,942, by United States Treasury Notes, 0.250% - 0.875%, due 10/31/15 - 08/31/17, aggregate value plus accrued interest of $203,864 (Cost: $287,064) |
|
$ |
287,064 |
|
287,064 |
| |
TOTAL SHORT TERM INVESTMENTS 6.5% |
|
|
|
287,064 |
| ||
TOTAL INVESTMENTS 101.3% |
|
|
|
4,474,626 |
| ||
Liabilities In Excess of Other Assets (1.3)% |
|
|
|
(56,740 |
) | ||
TOTAL NET ASSETS 100.0% |
|
|
|
$ |
4,417,886 |
| |
(a) Non-income producing security
(b) Foreign domiciled corporation
Oakmark Equity and Income Fund |
December 31, 2013 (Unaudited) |
Schedule of Investments (in thousands) |
|
|
|
Shares |
|
Value |
| |
COMMON STOCKS 69.6% |
|
|
|
|
| |
INDUSTRIALS 15.4% |
|
|
|
|
| |
CAPITAL GOODS 10.8% |
|
|
|
|
| |
Dover Corp. |
|
6,887 |
|
$ |
664,900 |
|
Industrial Machinery |
|
|
|
|
| |
General Dynamics Corp. |
|
5,679 |
|
542,614 |
| |
Aerospace & Defense |
|
|
|
|
| |
Rockwell Automation Inc. |
|
3,455 |
|
408,243 |
| |
Electrical Components & Equipment |
|
|
|
|
| |
Parker Hannifin Corp. |
|
2,122 |
|
273,033 |
| |
Industrial Machinery |
|
|
|
|
| |
Illinois Tool Works, Inc. |
|
3,154 |
|
265,222 |
| |
Industrial Machinery |
|
|
|
|
| |
Blount International, Inc. (a) |
|
2,263 |
|
32,751 |
| |
Industrial Machinery |
|
|
|
|
| |
Crane Co. |
|
271 |
|
18,204 |
| |
Industrial Machinery |
|
|
|
|
| |
|
|
|
|
2,204,967 |
| |
TRANSPORTATION 4.4% |
|
|
|
|
| |
FedEx Corp. |
|
4,016 |
|
577,403 |
| |
Air Freight & Logistics |
|
|
|
|
| |
Union Pacific Corp. |
|
1,776 |
|
298,284 |
| |
Railroads |
|
|
|
|
| |
Atlas Air Worldwide Holdings, Inc. (a) |
|
800 |
|
32,920 |
| |
Air Freight & Logistics |
|
|
|
|
| |
|
|
|
|
908,607 |
| |
COMMERCIAL & PROFESSIONAL SERVICES 0.2% |
|
|
|
|
| |
Herman Miller, Inc. |
|
1,402 |
|
41,375 |
| |
Office Services & Supplies |
|
|
|
|
| |
|
|
|
|
3,154,949 |
| |
CONSUMER DISCRETIONARY 11.5% |
|
|
|
|
| |
AUTOMOBILES & COMPONENTS 6.9% |
|
|
|
|
| |
General Motors Co. (a) |
|
17,040 |
|
696,405 |
| |
Automobile Manufacturers |
|
|
|
|
| |
BorgWarner, Inc. |
|
6,457 |
|
361,033 |
| |
Auto Parts & Equipment |
|
|
|
|
| |
Lear Corp. (b) |
|
4,424 |
|
358,183 |
| |
Auto Parts & Equipment |
|
|
|
|
| |
|
|
|
|
1,415,621 |
| |
RETAILING 2.1% |
|
|
|
|
| |
Foot Locker, Inc. (b) |
|
7,711 |
|
319,535 |
| |
Apparel Retail |
|
|
|
|
| |
HSN, Inc. |
|
1,740 |
|
108,380 |
| |
Catalog Retail |
|
|
|
|
| |
|
|
|
|
427,915 |
| |
MEDIA 2.0% |
|
|
|
|
| |
Scripps Networks Interactive, Inc., Class A |
|
4,828 |
|
417,229 |
| |
Broadcasting |
|
|
|
|
| |
CONSUMER DURABLES & APPAREL 0.5% |
|
|
|
|
| |
Carters, Inc. |
|
1,272 |
|
91,338 |
| |
Apparel, Accessories & Luxury Goods |
|
|
|
|
| |
|
|
|
|
2,352,103 |
| |
CONSUMER STAPLES 8.9% |
|
|
|
|
| |
FOOD, BEVERAGE & TOBACCO 7.0% |
|
|
|
|
| |
Philip Morris International, Inc. |
|
5,915 |
|
515,365 |
| |
Tobacco |
|
|
|
|
| |
Nestle SA (c) |
|
6,956 |
|
511,900 |
| |
Packaged Foods & Meats |
|
|
|
|
| |
Diageo PLC (c) |
|
3,124 |
|
413,733 |
| |
Distillers & Vintners |
|
|
|
|
| |
|
|
|
|
1,440,998 |
| |
FOOD & STAPLES RETAILING 1.9% |
|
|
|
|
| |
CVS Caremark Corp. |
|
5,285 |
|
378,258 |
| |
Drug Retail |
|
|
|
|
| |
|
|
|
|
1,819,256 |
| |
FINANCIALS 8.6% |
|
|
|
|
| |
DIVERSIFIED FINANCIALS 5.6% |
|
|
|
|
| |
Bank of America Corp. |
|
38,426 |
|
598,291 |
| |
Other Diversified Financial Services |
|
|
|
|
| |
TD Ameritrade Holding Corp. |
|
12,006 |
|
367,876 |
| |
Investment Banking & Brokerage |
|
|
|
|
| |
Bank of New York Mellon Corp. |
|
5,406 |
|
188,902 |
| |
Asset Management & Custody Banks |
|
|
|
|
| |
|
|
|
|
1,155,069 |
| |
INSURANCE 2.1% |
|
|
|
|
| |
Principal Financial Group, Inc. |
|
4,727 |
|
233,069 |
| |
Life & Health Insurance |
|
|
|
|
| |
Aflac, Inc. |
|
2,858 |
|
190,934 |
| |
Life & Health Insurance |
|
|
|
|
| |
|
|
|
|
424,003 |
| |
BANKS 0.9% |
|
|
|
|
| |
U.S. Bancorp |
|
4,461 |
|
180,217 |
| |
Diversified Banks |
|
|
|
|
| |
|
|
|
|
1,759,289 |
| |
ENERGY 8.5% |
|
|
|
|
| |
National Oilwell Varco, Inc. |
|
6,662 |
|
529,848 |
| |
Oil & Gas Equipment & Services |
|
|
|
|
| |
Baker Hughes, Inc. |
|
8,659 |
|
478,480 |
| |
Oil & Gas Equipment & Services |
|
|
|
|
| |
Devon Energy Corp. |
|
3,749 |
|
231,932 |
| |
Oil & Gas Exploration & Production |
|
|
|
|
| |
Cimarex Energy Co. |
|
1,683 |
|
176,606 |
| |
Oil & Gas Exploration & Production |
|
|
|
|
| |
Encana Corp. (d) |
|
8,047 |
|
145,240 |
| |
Oil & Gas Exploration & Production |
|
|
|
|
| |
Ultra Petroleum Corp. (a) (d) |
|
5,117 |
|
110,790 |
| |
Oil & Gas Exploration & Production |
|
|
|
|
| |
Rowan Cos. PLC (a) (d) |
|
1,392 |
|
49,203 |
| |
Oil & Gas Drilling |
|
|
|
|
| |
Concho Resources, Inc. (a) |
|
204 |
|
21,989 |
| |
Oil & Gas Exploration & Production |
|
|
|
|
| |
|
|
|
|
1,744,088 |
| |
|
|
Shares |
|
Value |
| |||
INFORMATION TECHNOLOGY 8.4% |
|
|
|
|
| |||
SOFTWARE & SERVICES 6.5% |
|
|
|
|
| |||
Oracle Corp. |
|
17,795 |
|
$ |
680,837 |
| ||
Systems Software |
|
|
|
|
| |||
MasterCard, Inc., Class A |
|
535 |
|
446,936 |
| |||
Data Processing & Outsourced Services |
|
|
|
|
| |||
Broadridge Financial Solutions, Inc. |
|
5,174 |
|
204,478 |
| |||
Data Processing & Outsourced Services |
|
|
|
|
| |||
|
|
|
|
1,332,251 |
| |||
TECHNOLOGY HARDWARE & EQUIPMENT 1.9% |
|
|
|
|
| |||
TE Connectivity, Ltd. (d) |
|
6,797 |
|
374,561 |
| |||
Electronic Manufacturing Services |
|
|
|
|
| |||
|
|
|
|
1,706,812 |
| |||
HEALTH CARE 8.3% |
|
|
|
|
| |||
HEALTH CARE EQUIPMENT & SERVICES 7.1% |
|
|
|
|
| |||
UnitedHealth Group, Inc. |
|
7,455 |
|
561,365 |
| |||
Managed Health Care |
|
|
|
|
| |||
Omnicare, Inc. |
|
4,720 |
|
284,923 |
| |||
Health Care Services |
|
|
|
|
| |||
Laboratory Corp. of America Holdings (a) |
|
2,524 |
|
230,645 |
| |||
Health Care Services |
|
|
|
|
| |||
Quest Diagnostics, Inc. |
|
4,115 |
|
220,296 |
| |||
Health Care Services |
|
|
|
|
| |||
Varian Medical Systems, Inc. (a) |
|
1,971 |
|
153,119 |
| |||
Health Care Equipment |
|
|
|
|
| |||
|
|
|
|
1,450,348 |
| |||
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES 1.2% |
|
|
|
|
| |||
Hospira, Inc. (a) |
|
4,133 |
|
170,624 |
| |||
Pharmaceuticals |
|
|
|
|
| |||
Bruker Corp. (a) |
|
3,834 |
|
75,788 |
| |||
Life Sciences Tools & Services |
|
|
|
|
| |||
|
|
|
|
246,412 |
| |||
|
|
|
|
1,696,760 |
| |||
TOTAL COMMON STOCKS 69.6% |
|
|
|
14,233,257 |
| |||
|
|
|
|
|
| |||
|
|
Par Value |
|
Value |
| |||
FIXED INCOME 11.4% |
|
|
|
|
| |||
GOVERNMENT AND AGENCY SECURITIES 9.0% |
|
|
|
|
| |||
U.S. GOVERNMENT NOTES 8.3% |
|
|
|
|
| |||
1.375%, due 07/15/18, Inflation Indexed |
|
$ |
539,886 |
|
585,144 |
| ||
1.25%, due 07/15/20, Inflation Indexed |
|
533,830 |
|
571,115 |
| |||
2.125%, due 01/15/19, Inflation Indexed |
|
216,900 |
|
242,216 |
| |||
1.00%, due 09/30/16 |
|
199,380 |
|
201,093 |
| |||
1.00%, due 01/15/14 |
|
99,690 |
|
99,721 |
| |||
|
|
|
|
1,699,289 |
| |||
U.S. GOVERNMENT AGENCIES 0.5% |
|
|
|
|
| |||
Federal Home Loan Bank, 1.65%, due 07/18/19 |
|
29,550 |
|
28,366 |
| |||
Federal Home Loan Mortgage Corp., 2.25%, due 03/13/20 |
|
25,000 |
|
24,568 |
| |||
Federal National Mortgage Association, 1.25%, due 09/27/18 |
|
24,680 |
|
24,079 |
| |||
Federal National Mortgage Association, 1.125%, due 07/18/18 |
|
9,825 |
|
9,853 |
| |||
Federal National Mortgage Association, 1.00%, due 01/30/20 |
|
9,525 |
|
9,097 |
| |||
|
|
|
|
95,963 |
| |||
CANADIAN GOVERNMENT BONDS 0.2% |
|
|
|
|
| |||
4.25%, due 12/01/21, Inflation Indexed |
|
CAD |
36,913 |
|
44,189 |
| ||
Total Government and Agency Securities |
|
|
|
1,839,441 |
| |||
|
|
|
|
|
| |||
CORPORATE BONDS 2.3% |
|
|
|
|
| |||
Kinetic Concepts, Inc., 10.50%, due 11/01/18 |
|
47,940 |
|
55,131 |
| |||
General Motors Co., 144A, 4.875%, due 10/02/23 (e) |
|
41,400 |
|
41,917 |
| |||
Fifth & Pacific Cos., Inc., 10.50%, due 04/15/19 |
|
34,403 |
|
37,112 |
| |||
Credit Suisse Group AG, 144A, 7.50%, due 12/31/49 (e) (f) |
|
30,000 |
|
31,688 |
| |||
Omnicare, Inc., 7.75%, due 06/01/20 |
|
28,464 |
|
31,524 |
| |||
General Motors Co., 144A, 3.50%, due 10/02/18 (e) |
|
29,525 |
|
30,189 |
| |||
The William Carter Co., 144A, 5.25%, due 08/15/21 (e) |
|
28,002 |
|
28,422 |
| |||
Denbury Resources, Inc., 8.25%, due 02/15/20 |
|
21,771 |
|
23,975 |
| |||
Triumph Group, Inc., 8.625%, due 07/15/18 |
|
21,000 |
|
22,680 |
| |||
Delphi Corp., 5.875%, due 05/15/19 |
|
20,943 |
|
22,147 |
| |||
Kinetic Concepts, Inc., 12.50%, due 11/01/19 |
|
14,360 |
|
16,155 |
| |||
The Manitowoc Co., Inc., 8.50%, due 11/01/20 |
|
12,825 |
|
14,556 |
| |||
Penn National Gaming, Inc., 144A, 5.875%, due 11/01/21 (e) |
|
12,000 |
|
11,850 |
| |||
GLP Capital , LP / GLP Financing II, Inc., 144A, 5.375%, due 11/01/23 (e) |
|
12,000 |
|
11,790 |
| |||
Live Nation Entertainment, Inc., 144A, 7.00%, due 09/01/20 (e) |
|
9,605 |
|
10,421 |
| |||
Howard Hughes Corp., 144A, 6.875%, due 10/01/21 (e) |
|
10,000 |
|
10,400 |
| |||
GLP Capital , LP / GLP Financing II, Inc., 144A, 4.875%, due 11/01/20 (e) |
|
10,000 |
|
10,000 |
| |||
|
|
Par Value |
|
Value |
| ||
Six Flags Entertainment Corp., 144A, 5.25%, due 01/15/21 (e) |
|
$ |
9,970 |
|
$ |
9,746 |
|
Health Net, Inc., 6.375%, due 06/01/17 |
|
8,680 |
|
9,353 |
| ||
Concho Resources, Inc., 5.50%, due 10/01/22 |
|
6,980 |
|
7,207 |
| ||
Serta Simmons Holdings LLC, 144A, 8.125%, due 10/01/20 (e) |
|
4,990 |
|
5,427 |
| ||
Scotiabank Peru SA, 144A, 4.50%, due 12/13/27 (e) (f) |
|
6,000 |
|
5,250 |
| ||
GLP Capital, LP / GLP Financing II, Inc., 144A, 4.375%, due 11/01/18 (e) |
|
5,000 |
|
5,113 |
| ||
Walter Energy, Inc., 9.875%, due 12/15/20 |
|
5,390 |
|
4,662 |
| ||
Walter Energy, Inc., 8.50%, due 04/15/21 |
|
5,000 |
|
4,163 |
| ||
Activision Blizzard, Inc., 144A, 6.125%, due 09/15/23 (e) |
|
3,000 |
|
3,128 |
| ||
Quiksilver, Inc. / QS Wholesale, Inc., 144A, 7.875%, due 08/01/18 (e) |
|
2,000 |
|
2,170 |
| ||
Quiksilver, Inc. / QS Wholesale, Inc., 10.00%, due 08/01/20 |
|
1,000 |
|
1,130 |
| ||
Post Holdings, Inc., 7.375%, due 02/15/22 |
|
1,000 |
|
1,070 |
| ||
Activision Blizzard, Inc., 144A, 5.625%, due 09/15/21 (e) |
|
1,000 |
|
1,035 |
| ||
Foot Locker, Inc., 8.50%, due 01/15/22 (b) |
|
395 |
|
456 |
| ||
CNO Financial Group, Inc., 144A, 6.375%, due 10/01/20 (e) |
|
250 |
|
266 |
| ||
Hologic, Inc., 6.25%, due 08/01/20 |
|
250 |
|
264 |
| ||
Tempur Sealy International, Inc., 6.875%, due 12/15/20 |
|
100 |
|
109 |
| ||
Total Corporate Bonds |
|
|
|
470,506 |
| ||
ASSET BACKED SECURITIES 0.1% |
|
|
|
|
| ||
Cabelas Master Credit Card Trust,.144A, 0.717%, due 10/15/19 (e) (f) (Cost $11,450) |
|
11,450 |
|
11,505 |
| ||
CONVERTIBLE BOND 0.0%(g) |
|
|
|
|
| ||
Live Nation Entertainment, Inc., 2.875%, due 07/15/27 (Cost $834) |
|
828 |
|
840 |
| ||
TOTAL FIXED INCOME 11.4% |
|
|
|
2,322,292 |
| ||
|
|
|
|
|
| ||
SHORT TERM INVESTMENTS 19.1% |
|
|
|
|
| ||
COMMERCIAL PAPER 13.5% |
|
|
|
|
| ||
Toyota Motor Credit Corp., 0.07% - 0.18%, due 01/10/14 - 03/27/14 (h) |
|
725,000 |
|
724,904 |
| ||
MetLife, Inc., 144A, 0.10% - 0.15%, due 01/14/14 - 05/05/14 (e) (h) |
|
600,277 |
|
600,161 |
| ||
Chevron Corp., 144A, 0.07% - 0.08%, due 01/03/14 - 02/21/14 (e) (h) |
|
300,000 |
|
299,986 |
| ||
Shell International Finance BV, 144A, 0.06% - 0.07%, due 01/21/14 - 02/05/14 (e) (h) |
|
270,000 |
|
269,988 |
| ||
General Mills Inc., 144A, 0.13% - 0.30%, due 01/02/14 - 01/17/14 (e) (h) |
|
175,000 |
|
174,993 |
| ||
J.P. Morgan Securities LLC, 0.28% - 0.33%, due 06/16/14 - 08/01/14 (h) |
|
175,000 |
|
174,706 |
| ||
Wal-mart Stores, Inc., 144A, 0.05% - 0.06%, due 02/10/14 - 02/25/14 (e) (h) |
|
160,000 |
|
159,988 |
| ||
American Honda Finance Corp., 0.07% - 0.09%, due 01/07/14 - 02/19/14 (h) |
|
131,000 |
|
130,996 |
| ||
Wellpoint, Inc., 144A, 0.33% - 0.36%, due 01/09/14 - 01/15/14 (e) (h) |
|
100,000 |
|
99,990 |
| ||
BMW US Capital LLC, 144A, 0.09%, due 01/16/14 - 01/31/14 (e) (h) |
|
35,500 |
|
35,498 |
| ||
BP Capital Markets PLC, 144A, 0.07%, due 01/02/14 (e) (h) |
|
32,000 |
|
32,000 |
| ||
Medtronic, Inc.,144A, 0.07%, due 02/04/14 (e) (h) |
|
30,000 |
|
29,998 |
| ||
J.P. Morgan Securities LLC, 144A, 0.18% - 0.30%, due 05/27/14 - 06/19/14 (e) (h) |
|
30,000 |
|
29,959 |
| ||
Total Commercial Paper |
|
|
|
2,763,167 |
| ||
REPURCHASE AGREEMENT 2.8% |
|
|
|
|
| ||
Fixed Income Clearing Corp. Repurchase Agreement, 0.00% dated 12/31/13 due 01/02/14, repurchase price $573,258, collateralized by Federal Home Loan Bank Bonds, 0.500% - 2.750%, due 03/13/15 - 06/12/15, aggregate value plus accrued interest of $27,314, by a Federal Home Loan Mortgage Corp. Bond, 2.875%, due 02/09/15, value plus accrued interest of $67,600, by United States Treasury Notes, 0.250% - 4.125%, due 12/31/14 - 05/31/15, aggregate value plus accrued interest of $489,813 (Cost: $573,258) |
|
573,258 |
|
573,258 |
| ||
CORPORATE BONDS 2.1% |
|
|
|
|
| ||
Capital One Financial Corp., 2.13%, due 07/15/14 |
|
75,095 |
|
75,690 |
| ||
|
|
Par Value |
|
Value |
| ||
Citigroup, Inc., 5.00%, due 09/15/14 |
|
$ |
53,700 |
|
$ |
55,230 |
|
Capital One Financial Corp., 7.38%, due 05/23/14 |
|
46,941 |
|
48,150 |
| ||
DIRECTV Holdings LLC / DIRECTV Financing Co., Inc., 4.75%, due 10/01/14 |
|
45,459 |
|
46,811 |
| ||
Merrill Lynch & Co., Inc., 5.45%, due 07/15/14 |
|
43,637 |
|
44,770 |
| ||
MetLife, Inc., 2.38%, due 02/06/14 |
|
42,731 |
|
42,814 |
| ||
Shell International Finance BV, 144A, 0.07%, due 01/16/14 (e) |
|
40,000 |
|
39,999 |
| ||
The Goldman Sachs Group, Inc., 6.00%, due 05/01/14 |
|
26,678 |
|
27,154 |
| ||
Anheuser-Busch InBev Worldwide, Inc., 1.50%, due 07/14/14 |
|
18,200 |
|
18,304 |
| ||
BP Capital Markets PLC, 3.63%, due 05/08/14 |
|
14,500 |
|
14,659 |
| ||
United Parcel Service, Inc., 3.88%, due 04/01/14 |
|
13,075 |
|
13,183 |
| ||
American International Group, Inc., 4.25%, due 09/15/14 |
|
7,345 |
|
7,529 |
| ||
International Lease Finance Corp., 5.65%, due 06/01/14 |
|
5,425 |
|
5,520 |
| ||
Total Corporate Bonds |
|
|
|
439,813 |
| ||
U.S. GOVERNMENT BILLS 0.7% |
|
|
|
|
| ||
United States Treasury Bills, 0.06%, due 03/27/14 (Cost $149,979) |
|
150,000 |
|
149,977 |
| ||
TOTAL SHORT TERM INVESTMENTS 19.1% |
|
|
|
3,926,215 |
| ||
TOTAL INVESTMENTS 100.1% |
|
|
|
20,481,764 |
| ||
Liabilities In Excess of Other Assets (0.1)% |
|
|
|
(21,954 |
) | ||
NET ASSETS 100.0% |
|
|
|
$ |
20,459,810 |
| |
(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) |
Foreign domiciled corporation |
(e) |
See Note 1 in the Notes to Schedules of Investments regarding restricted securities. These securities may be resold subject to restrictions on resale under federal securities law. |
(f) |
Floating Rate Note. Rate shown is as of December 31, 2013. |
(g) |
Amount rounds to less than 0.1%. |
(h) |
The rate shown represents the annualized yield at the time of purchase; not a coupon rate. |
|
|
Key to Abbreviations: | |
|
CAD Canadian Dollar |
OAKMARK GLOBAL FUND
Global Diversification December 31, 2013 (Unaudited)
|
|
|
|
% of Equity Investments |
|
North America 44.5% |
|
|
|
|
|
|
|
United States |
|
44.5 |
% |
Europe 41.0% |
|
|
|
|
|
|
|
Switzerland |
|
20.6 |
% |
|
* |
Netherlands |
|
8.3 |
% |
|
* |
Germany |
|
5.4 |
% |
|
|
United Kingdom |
|
4.4 |
% |
|
* |
France |
|
2.3 |
% |
Asia 12.0% |
|
|
|
|
|
|
|
Japan |
|
12.0 |
% |
Australasia 2.5% |
|
|
|
|
|
|
|
Australia |
|
2.5 |
% |
* Euro currency countries comprise 16.0% of equity investments.
Oakmark Global Fund |
|
December 31, 2013 (Unaudited) |
Schedule of Investments (in thousands) |
|
|
|
|
Shares |
|
Value |
| |
COMMON STOCKS 98.5% |
|
|
|
|
| |
INFORMATION TECHNOLOGY 21.6% |
|
|
|
|
| |
SOFTWARE & SERVICES 9.4% |
|
|
|
|
| |
Oracle Corp. (United States) |
|
4,379 |
|
$ |
167,545 |
|
Systems Software |
|
|
|
|
| |
MasterCard, Inc., Class A (United States) |
|
169 |
|
141,109 |
| |
Data Processing & Outsourced Services |
|
|
|
|
| |
|
|
|
|
308,654 |
| |
TECHNOLOGY HARDWARE & EQUIPMENT 8.2% |
|
|
|
|
| |
TE Connectivity, Ltd. (Switzerland) |
|
2,088 |
|
115,048 |
| |
Electronic Manufacturing Services |
|
|
|
|
| |
Canon, Inc. (Japan) |
|
2,855 |
|
90,265 |
| |
Office Electronics |
|
|
|
|
| |
Hirose Electric Co., Ltd. (Japan) |
|
305 |
|
43,385 |
| |
Electronic Components |
|
|
|
|
| |
Itron, Inc. (United States) (a) |
|
551 |
|
22,836 |
| |
Electronic Equipment & Instruments |
|
|
|
|
| |
|
|
|
|
271,534 |
| |
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 4.0% |
|
|
|
|
| |
Intel Corp. (United States) |
|
2,548 |
|
66,136 |
| |
Semiconductors |
|
|
|
|
| |
Applied Materials, Inc. (United States) |
|
3,640 |
|
64,386 |
| |
Semiconductor Equipment |
|
|
|
|
| |
|
|
|
|
130,522 |
| |
|
|
|
|
710,710 |
| |
INDUSTRIALS 18.5% |
|
|
|
|
| |
CAPITAL GOODS 9.0% |
|
|
|
|
| |
CNH Industrial N.V. (Netherlands) (a) |
|
9,824 |
|
111,969 |
| |
Construction & Farm Machinery & Heavy Trucks |
|
|
|
|
| |
Rheinmetall AG (Germany) |
|
1,199 |
|
73,958 |
| |
Industrial Conglomerates |
|
|
|
|
| |
Koninklijke Philips NV (Netherlands) |
|
1,123 |
|
41,164 |
| |
Industrial Conglomerates |
|
|
|
|
| |
Smiths Group PLC (UK) |
|
1,448 |
|
35,490 |
| |
Industrial Conglomerates |
|
|
|
|
| |
Travis Perkins PLC (UK) |
|
1,084 |
|
33,604 |
| |
Trading Companies & Distributors |
|
|
|
|
| |
|
|
|
|
296,185 |
| |
TRANSPORTATION 8.3% |
|
|
|
|
| |
FedEx Corp. (United States) |
|
824 |
|
118,481 |
| |
Air Freight & Logistics |
|
|
|
|
| |
Union Pacific Corp. (United States) |
|
542 |
|
91,005 |
| |
Railroads |
|
|
|
|
| |
Kuehne + Nagel International AG (Switzerland) |
|
477 |
|
62,669 |
| |
Marine |
|
|
|
|
| |
|
|
|
|
272,155 |
| |
COMMERCIAL & PROFESSIONAL SERVICES 1.2% |
|
|
|
|
| |
Adecco SA (Switzerland) |
|
527 |
|
41,677 |
| |
Human Resource & Employment Services |
|
|
|
|
| |
|
|
|
|
610,017 |
| |
FINANCIALS 16.8% |
|
|
|
|
| |
DIVERSIFIED FINANCIALS 16.8% |
|
|
|
|
| |
Credit Suisse Group (Switzerland) |
|
5,229 |
|
159,838 |
| |
Diversified Capital Markets |
|
|
|
|
| |
Julius Baer Group, Ltd. (Switzerland) |
|
2,854 |
|
137,080 |
| |
Asset Management & Custody Banks |
|
|
|
|
| |
Bank of America Corp. (United States) |
|
5,908 |
|
91,992 |
| |
Other Diversified Financial Services |
|
|
|
|
| |
Franklin Resources, Inc. (United States) |
|
1,477 |
|
85,285 |
| |
Asset Management & Custody Banks |
|
|
|
|
| |
Daiwa Securities Group, Inc. (Japan) |
|
7,960 |
|
79,366 |
| |
Investment Banking & Brokerage |
|
|
|
|
| |
|
|
|
|
553,561 |
| |
CONSUMER DISCRETIONARY 12.3% |
|
|
|
|
| |
AUTOMOBILES & COMPONENTS 10.6% |
|
|
|
|
| |
General Motors Co. (United States) (a) |
|
3,056 |
|
124,903 |
| |
Automobile Manufacturers |
|
|
|
|
| |
Daimler AG (Germany) |
|
1,165 |
|
100,827 |
| |
Automobile Manufacturers |
|
|
|
|
| |
Toyota Motor Corp. (Japan) |
|
1,066 |
|
64,980 |
| |
Automobile Manufacturers |
|
|
|
|
| |
Yamaha Motor Co., Ltd. (Japan) |
|
3,909 |
|
58,538 |
| |
Motorcycle Manufacturers |
|
|
|
|
| |
|
|
|
|
349,248 |
| |
MEDIA 1.7% |
|
|
|
|
| |
Live Nation Entertainment, Inc. (United States) (a) |
|
2,752 |
|
54,384 |
| |
Movies & Entertainment |
|
|
|
|
| |
|
|
|
|
403,632 |
| |
ENERGY 8.7% |
|
|
|
|
| |
National Oilwell Varco, Inc. (United States) |
|
1,120 |
|
89,058 |
| |
Oil & Gas Equipment & Services |
|
|
|
|
| |
Fugro NV (Netherlands) |
|
1,405 |
|
83,746 |
| |
Oil & Gas Equipment & Services |
|
|
|
|
| |
Devon Energy Corp. (United States) |
|
965 |
|
59,717 |
| |
Oil & Gas Exploration & Production |
|
|
|
|
| |
Cimarex Energy Co. (United States) |
|
509 |
|
53,354 |
| |
Oil & Gas Exploration & Production |
|
|
|
|
| |
|
|
|
|
285,875 |
| |
MATERIALS 7.9% |
|
|
|
|
| |
Holcim, Ltd. (Switzerland) |
|
1,249 |
|
93,445 |
| |
Construction Materials |
|
|
|
|
| |
Incitec Pivot, Ltd. (Australia) |
|
34,508 |
|
82,577 |
| |
Diversified Chemicals |
|
|
|
|
| |
Kansai Paint Co., Ltd. (Japan) |
|
3,474 |
|
51,294 |
| |
Specialty Chemicals |
|
|
|
|
| |
Akzo Nobel NV (Netherlands) |
|
428 |
|
33,142 |
| |
Specialty Chemicals |
|
|
|
|
| |
|
|
|
|
260,458 |
| |
|
|
Shares |
|
Value |
| |
HEALTH CARE 6.4% |
|
|
|
|
| |
HEALTH CARE EQUIPMENT & SERVICES 6.4% |
|
|
|
|
| |
Tenet Healthcare Corp. (United States) (a) |
|
1,958 |
|
$ |
82,491 |
|
Health Care Facilities |
|
|
|
|
| |
Laboratory Corp. of America Holdings (United States) (a) |
|
711 |
|
64,992 |
| |
Health Care Services |
|
|
|
|
| |
Health Net, Inc. (United States) (a) |
|
2,155 |
|
63,924 |
| |
Managed Health Care |
|
|
|
|
| |
|
|
|
|
211,407 |
| |
CONSUMER STAPLES 6.3% |
|
|
|
|
| |
FOOD, BEVERAGE & TOBACCO 6.3% |
|
|
|
|
| |
Diageo PLC (UK) |
|
2,258 |
|
74,786 |
| |
Distillers & Vintners |
|
|
|
|
| |
Danone SA (France) |
|
1,017 |
|
73,229 |
| |
Packaged Foods & Meats |
|
|
|
|
| |
Nestle SA (Switzerland) |
|
808 |
|
59,147 |
| |
Packaged Foods & Meats |
|
|
|
|
| |
|
|
|
|
207,162 |
| |
TOTAL COMMON STOCKS 98.5% |
|
|
|
3,242,822 |
| |
|
|
Par Value |
|
Value |
| ||
SHORT TERM INVESTMENT 1.4% |
|
|
|
|
| ||
REPURCHASE AGREEMENT 1.4% |
|
|
|
|
| ||
Fixed Income Clearing Corp. Repurchase Agreement, 0.00% dated 12/31/13 due 01/02/14, repurchase price $46,488, collateralized by a United States Treasury Note, 0.375%, due 06/30/15, value plus accrued interest of $47,419 |
|
$ |
46,488 |
|
46,488 |
| |
TOTAL SHORT TERM INVESTMENTS 1.4% |
|
|
|
46,488 |
| ||
TOTAL INVESTMENTS 99.9% |
|
|
|
3,289,310 |
| ||
Other Assets In Excess of Liabilities 0.1% |
|
|
|
3,188 |
| ||
TOTAL NET ASSETS 100.0% |
|
|
|
$ |
3,292,498 |
| |
(a) Non-income producing security
OAKMARK GLOBAL SELECT FUND
Global Diversification December 31, 2013 (Unaudited)
|
|
|
|
% of Equity Investments |
|
North America 48.2% |
|
|
|
|
|
|
|
United States |
|
48.2 |
% |
Europe 41.7% |
|
|
|
|
|
|
|
Switzerland |
|
19.3 |
% |
|
* |
Netherlands |
|
5.9 |
% |
|
* |
France |
|
5.7 |
% |
|
* |
Germany |
|
5.5 |
% |
|
|
United Kingdom |
|
5.3 |
% |
Asia 10.1% |
|
|
|
|
|
|
|
Japan |
|
10.1 |
% |
* Euro currency countries comprise 17.1% of equity investments.
Oakmark Global Select Fund |
|
December 31, 2013 (Unaudited) |
Schedule of Investments (in thousands) |
|
|
|
|
Shares |
|
Value |
| |
COMMON STOCKS 94.9% |
|
|
|
|
| |
FINANCIALS 27.8% |
|
|
|
|
| |
DIVERSIFIED FINANCIALS 23.3% |
|
|
|
|
| |
Credit Suisse Group (Switzerland) |
|
2,332 |
|
$ |
71,285 |
|
Diversified Capital Markets |
|
|
|
|
| |
Daiwa Securities Group, Inc. (Japan) |
|
7,016 |
|
69,953 |
| |
Investment Banking & Brokerage |
|
|
|
|
| |
Bank of America Corp. (United States) |
|
4,400 |
|
68,508 |
| |
Other Diversified Financial Services |
|
|
|
|
| |
JPMorgan Chase & Co. (United States) |
|
1,165 |
|
68,129 |
| |
Other Diversified Financial Services |
|
|
|
|
| |
Capital One Financial Corp. (United States) |
|
870 |
|
66,651 |
| |
Consumer Finance |
|
|
|
|
| |
|
|
|
|
344,526 |
| |
INSURANCE 4.5% |
|
|
|
|
| |
American International Group, Inc. (United States) |
|
1,315 |
|
67,131 |
| |
Multi-line Insurance |
|
|
|
|
| |
|
|
|
|
411,657 |
| |
CONSUMER DISCRETIONARY 19.7% |
|
|
|
|
| |
CONSUMER DURABLES & APPAREL 5.3% |
|
|
|
|
| |
Kering (France) |
|
376 |
|
79,520 |
| |
Apparel, Accessories & Luxury Goods |
|
|
|
|
| |
AUTOMOBILES & COMPONENTS 5.3% |
|
|
|
|
| |
Daimler AG (Germany) |
|
903 |
|
78,095 |
| |
Automobile Manufacturers |
|
|
|
|
| |
MEDIA 4.6% |
|
|
|
|
| |
DIRECTV (United States) (a) |
|
980 |
|
67,708 |
| |
Cable & Satellite |
|
|
|
|
| |
RETAILING 4.5% |
|
|
|
|
| |
Liberty Interactive Corp., Class A (United States) (a) |
|
2,290 |
|
67,211 |
| |
Catalog Retail |
|
|
|
|
| |
|
|
|
|
292,534 |
| |
INDUSTRIALS 19.0% |
|
|
|
|
| |
TRANSPORTATION 9.3% |
|
|
|
|
| |
Kuehne + Nagel International AG (Switzerland) |
|
549 |
|
72,107 |
| |
Marine |
|
|
|
|
| |
FedEx Corp. (United States) |
|
459 |
|
65,990 |
| |
Air Freight & Logistics |
|
|
|
|
| |
|
|
|
|
138,097 |
| |
CAPITAL GOODS 5.6% |
|
|
|
|
| |
CNH Industrial N.V. (Netherlands) (a) |
|
7,271 |
|
82,875 |
| |
Construction & Farm Machinery & Heavy Trucks |
|
|
|
|
| |
COMMERCIAL & PROFESSIONAL SERVICES 4.1% |
|
|
|
|
| |
Adecco SA (Switzerland) |
|
758 |
|
60,023 |
| |
Human Resource & Employment Services |
|
|
|
|
| |
|
|
|
|
280,995 |
| |
INFORMATION TECHNOLOGY 18.8% |
|
|
|
|
| |
TECHNOLOGY HARDWARE & EQUIPMENT 9.4% |
|
|
|
|
| |
Canon, Inc. (Japan) |
|
2,283 |
|
72,181 |
| |
Office Electronics |
|
|
|
|
| |
TE Connectivity, Ltd. (Switzerland) |
|
1,234 |
|
68,000 |
| |
Electronic Manufacturing Services |
|
|
|
|
| |
|
|
|
|
140,181 |
| |
SOFTWARE & SERVICES 4.7% |
|
|
|
|
| |
Oracle Corp. (United States) |
|
1,830 |
|
70,016 |
| |
Systems Software |
|
|
|
|
| |
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 4.7% |
|
|
|
|
| |
Intel Corp. (United States) |
|
2,662 |
|
69,106 |
| |
Semiconductors |
|
|
|
|
| |
|
|
|
|
279,303 |
| |
CONSUMER STAPLES 5.1% |
|
|
|
|
| |
FOOD, BEVERAGE & TOBACCO 5.1% |
|
|
|
|
| |
Diageo PLC (UK) |
|
2,272 |
|
75,256 |
| |
Distillers & Vintners |
|
|
|
|
| |
HEALTH CARE 4.5% |
|
|
|
|
| |
HEALTH CARE EQUIPMENT & SERVICES 4.5% |
|
|
|
|
| |
Medtronic, Inc. (United States) |
|
1,167 |
|
66,974 |
| |
Health Care Equipment |
|
|
|
|
| |
TOTAL COMMON STOCKS 94.9% |
|
|
|
1,406,719 |
| |
|
|
Par Value |
|
Value |
| ||
SHORT TERM INVESTMENTS 5.1% |
|
|
|
|
| ||
REPURCHASE AGREEMENT 5.1% |
|
|
|
|
| ||
Fixed Income Clearing Corp. Repurchase Agreement, 0.00% dated 12/31/13 due 01/02/14, repurchase price $75,464, collateralized by Federal National Mortgage Association Bonds, 0.400% - 0.500%, due 07/30/15 - 09/28/15, aggregate value plus accrued interest of $31,333, by a United States Treasury Note, 1.875%, due 06/30/15, value plus accrued interest of $45,643 (Cost: $75,464) |
|
$ |
75,464 |
|
75,464 |
| |
TOTAL SHORT TERM INVESTMENTS 5.1% |
|
|
|
75,464 |
| ||
TOTAL INVESTMENTS 100.0% |
|
|
|
1,482,183 |
| ||
Other Assets In Excess of Liabilities 0.0%(b) |
|
|
|
385 |
| ||
TOTAL NET ASSETS 100.0% |
|
|
|
$ |
1,482,568 |
| |
(a) Non-income producing security
(b) Amount rounds to less than 0.1%.
OAKMARK INTERNATIONAL FUND
Global Diversification December 31, 2013 (Unaudited)
|
|
|
|
% of Equity Investments |
|
Europe 79.4% |
|
|
|
|
|
|
|
Switzerland |
|
18.2 |
% |
|
|
United Kingdom |
|
15.8 |
% |
|
* |
France |
|
15.1 |
% |
|
* |
Germany |
|
12.1 |
% |
|
* |
Netherlands |
|
7.9 |
% |
|
|
Sweden |
|
4.3 |
% |
|
* |
Italy |
|
3.8 |
% |
|
* |
Ireland |
|
2.2 |
% |
Asia 13.5% |
|
|
|
|
|
|
|
Japan |
|
12.4 |
% |
|
|
South Korea |
|
1.1 |
% |
Australasia 4.8% |
|
|
|
|
|
|
|
Australia |
|
4.8 |
% |
North America 1.2% |
|
|
|
|
|
|
|
Canada |
|
1.2 |
% |
Middle East 1.1% |
|
|
|
|
|
|
|
Israel |
|
1.1 |
% |
* |
Euro currency countries comprise 41.1% of equity investments. |
Oakmark International Fund |
|
December 31, 2013 (Unaudited) |
Schedule of Investments (in thousands) |
|
|
|
|
Shares |
|
Value |
| |
COMMON STOCKS 94.8% |
|
|
|
|
| |
FINANCIALS 25.6% |
|
|
|
|
| |
BANKS 9.1% |
|
|
|
|
| |
Intesa Sanpaolo SPA (Italy) |
|
413,903 |
|
$ |
1,021,515 |
|
Diversified Banks |
|
|
|
|
| |
BNP Paribas SA (France) |
|
11,262 |
|
877,709 |
| |
Diversified Banks |
|
|
|
|
| |
Lloyds Banking Group PLC (UK) (a) |
|
506,973 |
|
662,215 |
| |
Diversified Banks |
|
|
|
|
| |
|
|
|
|
2,561,439 |
| |
DIVERSIFIED FINANCIALS 8.8% |
|
|
|
|
| |
Credit Suisse Group (Switzerland) |
|
46,773 |
|
1,429,843 |
| |
Diversified Capital Markets |
|
|
|
|
| |
Daiwa Securities Group, Inc. (Japan) |
|
61,590 |
|
614,087 |
| |
Investment Banking & Brokerage |
|
|
|
|
| |
Schroders PLC (UK) |
|
10,364 |
|
445,892 |
| |
Asset Management & Custody Banks |
|
|
|
|
| |
Schroders PLC, Non-Voting (UK) |
|
31 |
|
1,047 |
| |
Asset Management & Custody Banks |
|
|
|
|
| |
|
|
|
|
2,490,869 |
| |
INSURANCE 7.7% |
|
|
|
|
| |
Allianz SE (Germany) |
|
5,612 |
|
1,006,357 |
| |
Multi-line Insurance |
|
|
|
|
| |
AMP, Ltd. (Australia) |
|
147,262 |
|
577,241 |
| |
Life & Health Insurance |
|
|
|
|
| |
Willis Group Holdings PLC (UK) (b) |
|
12,786 |
|
572,950 |
| |
Insurance Brokers |
|
|
|
|
| |
|
|
|
|
2,156,548 |
| |
|
|
|
|
7,208,856 |
| |
CONSUMER DISCRETIONARY 21.9% |
|
|
|
|
| |
AUTOMOBILES & COMPONENTS 10.5% |
|
|
|
|
| |
Daimler AG (Germany) |
|
10,164 |
|
879,523 |
| |
Automobile Manufacturers |
|
|
|
|
| |
Toyota Motor Corp. (Japan) |
|
11,601 |
|
707,242 |
| |
Automobile Manufacturers |
|
|
|
|
| |
Bayerische Motoren Werke (BMW) AG (Germany) |
|
5,684 |
|
666,329 |
| |
Automobile Manufacturers |
|
|
|
|
| |
Honda Motor Co., Ltd. (Japan) |
|
12,413 |
|
510,398 |
| |
Automobile Manufacturers |
|
|
|
|
| |
Continental AG (Germany) |
|
903 |
|
198,082 |
| |
Auto Parts & Equipment |
|
|
|
|
| |
|
|
|
|
2,961,574 |
| |
CONSUMER DURABLES & APPAREL 7.4% |
|
|
|
|
| |
Kering (France) |
|
3,357 |
|
709,675 |
| |
Apparel, Accessories & Luxury Goods |
|
|
|
|
| |
Cie Financiere Richemont SA (Switzerland) |
|
6,181 |
|
615,254 |
| |
Apparel, Accessories & Luxury Goods |
|
|
|
|
| |
LVMH Moet Hennessy Louis Vuitton SA (France) |
|
2,936 |
|
535,542 |
| |
Apparel, Accessories & Luxury Goods |
|
|
|
|
| |
Christian Dior SA (France) |
|
1,098 |
|
207,514 |
| |
Apparel, Accessories & Luxury Goods |
|
|
|
|
| |
|
|
|
|
2,067,985 |
| |
MEDIA 2.4% |
|
|
|
|
| |
Thomson Reuters Corp. (Canada) |
|
8,683 |
|
328,339 |
| |
Publishing |
|
|
|
|
| |
Publicis Groupe SA (France) |
|
2,881 |
|
263,629 |
| |
Advertising |
|
|
|
|
| |
WPP PLC (UK) |
|
4,164 |
|
95,154 |
| |
Advertising |
|
|
|
|
| |
|
|
|
|
687,122 |
| |
RETAILING 1.6% |
|
|
|
|
| |
Hennes & Mauritz AB (H&M) - Class B (Sweden) |
|
7,582 |
|
349,181 |
| |
Apparel Retail |
|
|
|
|
| |
Signet Jewelers, Ltd. (UK) |
|
1,358 |
|
106,898 |
| |
Specialty Stores |
|
|
|
|
| |
|
|
|
|
456,079 |
| |
|
|
|
|
6,172,760 |
| |
INDUSTRIALS 15.0% |
|
|
|
|
| |
CAPITAL GOODS 9.0% |
|
|
|
|
| |
CNH Industrial N.V. (Netherlands) (a) |
|
67,013 |
|
763,788 |
| |
Construction & Farm Machinery & Heavy Trucks |
|
|
|
|
| |
SKF AB (Sweden) |
|
16,476 |
|
432,140 |
| |
Industrial Machinery |
|
|
|
|
| |
Smiths Group PLC (UK) |
|
16,898 |
|
414,142 |
| |
Industrial Conglomerates |
|
|
|
|
| |
Koninklijke Philips NV (Netherlands) |
|
10,653 |
|
390,508 |
| |
Industrial Conglomerates |
|
|
|
|
| |
Atlas Copco AB, Series B (Sweden) |
|
14,716 |
|
373,388 |
| |
Industrial Machinery |
|
|
|
|
| |
FANUC Corp. (Japan) |
|
364 |
|
66,519 |
| |
Industrial Machinery |
|
|
|
|
| |
Wolseley PLC (UK) |
|
1,015 |
|
57,582 |
| |
Trading Companies & Distributors |
|
|
|
|
| |
Geberit AG (Switzerland) |
|
94 |
|
28,565 |
| |
Building Products |
|
|
|
|
| |
Schindler Holding AG (Switzerland) |
|
100 |
|
14,658 |
| |
Industrial Machinery |
|
|
|
|
| |
|
|
|
|
2,541,290 |
| |
COMMERCIAL & PROFESSIONAL SERVICES 3.9% |
|
|
|
|
| |
Experian Group, Ltd. (Ireland) |
|
32,221 |
|
594,385 |
| |
Research & Consulting Services |
|
|
|
|
| |
Adecco SA (Switzerland) |
|
4,815 |
|
381,037 |
| |
Human Resource & Employment Services |
|
|
|
|
| |
Meitec Corp. (Japan) (b) |
|
2,625 |
|
70,990 |
| |
Research & Consulting Services |
|
|
|
|
| |
Secom Co., Ltd. (Japan) |
|
952 |
|
57,313 |
| |
Security & Alarm Services |
|
|
|
|
| |
|
|
|
|
1,103,725 |
| |
|
|
Shares |
|
Value |
| ||
TRANSPORTATION 2.1% |
|
|
|
|
| ||
Kuehne + Nagel International AG (Switzerland) |
|
4,341 |
|
$ |
569,833 |
| |
Marine |
|
|
|
|
| ||
|
|
|
|
4,214,848 |
| ||
CONSUMER STAPLES 13.3% |
|
|
|
|
| ||
FOOD, BEVERAGE & TOBACCO 10.0% |
|
|
|
|
| ||
Diageo PLC (UK) |
|
20,498 |
|
678,863 |
| ||
Distillers & Vintners |
|
|
|
|
| ||
Pernod Ricard SA (France) |
|
5,417 |
|
617,102 |
| ||
Distillers & Vintners |
|
|
|
|
| ||
Danone SA (France) |
|
8,340 |
|
600,256 |
| ||
Packaged Foods & Meats |
|
|
|
|
| ||
Nestle SA (Switzerland) |
|
7,482 |
|
547,714 |
| ||
Packaged Foods & Meats |
|
|
|
|
| ||
Heineken Holdings NV (Netherlands) |
|
6,030 |
|
381,454 |
| ||
Brewers |
|
|
|
|
| ||
|
|
|
|
2,825,389 |
| ||
FOOD & STAPLES RETAILING 3.3% |
|
|
|
|
| ||
Tesco PLC (UK) |
|
115,558 |
|
639,804 |
| ||
Food Retail |
|
|
|
|
| ||
Koninklijke Ahold NV (Netherlands) |
|
16,450 |
|
295,323 |
| ||
Food Retail |
|
|
|
|
| ||
|
|
|
|
935,127 |
| ||
|
|
|
|
3,760,516 |
| ||
MATERIALS 7.0% |
|
|
|
|
| ||
Holcim, Ltd. (Switzerland) |
|
9,453 |
|
707,353 |
| ||
Construction Materials |
|
|
|
|
| ||
Orica, Ltd. (Australia) (b) |
|
33,070 |
|
704,547 |
| ||
Commodity Chemicals |
|
|
|
|
| ||
Akzo Nobel NV (Netherlands) |
|
3,663 |
|
283,875 |
| ||
Specialty Chemicals |
|
|
|
|
| ||
Givaudan SA (Switzerland) |
|
191 |
|
273,095 |
| ||
Specialty Chemicals |
|
|
|
|
| ||
|
|
|
|
1,968,870 |
| ||
INFORMATION TECHNOLOGY 6.6% |
|
|
|
|
| ||
TECHNOLOGY HARDWARE & EQUIPMENT 2.9% |
|
|
|
|
| ||
Canon, Inc. (Japan) |
|
25,054 |
|
792,234 |
| ||
Office Electronics |
|
|
|
|
| ||
OMRON Corp. (Japan) |
|
574 |
|
25,313 |
| ||
Electronic Components |
|
|
|
|
| ||
|
|
|
|
817,547 |
| ||
SOFTWARE & SERVICES 2.7% |
|
|
|
|
| ||
SAP AG (Germany) |
|
5,655 |
|
484,720 |
| ||
Application Software |
|
|
|
|
| ||
Check Point Software Technologies, Ltd. (Israel) (a) |
|
4,326 |
|
279,109 |
| ||
Systems Software |
|
|
|
|
| ||
|
|
|
|
763,829 |
| ||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 1.0% |
|
|
|
|
| ||
Samsung Electronics Co., Ltd. (South Korea) |
|
220 |
|
286,139 |
| ||
Semiconductors |
|
|
|
|
| ||
|
|
|
|
1,867,515 |
| ||
HEALTH CARE 5.4% |
|
|
|
|
| ||
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES 3.7% |
|
|
|
|
| ||
GlaxoSmithKline PLC (UK) |
|
20,124 |
|
537,030 |
| ||
Pharmaceuticals |
|
|
|
|
| ||
Novartis AG (Switzerland) |
|
3,436 |
|
274,240 |
| ||
Pharmaceuticals |
|
|
|
|
| ||
Sanofi (France) |
|
2,126 |
|
225,566 |
| ||
Pharmaceuticals |
|
|
|
|
| ||
|
|
|
|
1,036,836 |
| ||
HEALTH CARE EQUIPMENT & SERVICES 1.7% |
|
|
|
|
| ||
Olympus Corp. (Japan) (a) |
|
14,986 |
|
473,884 |
| ||
Health Care Equipment |
|
|
|
|
| ||
|
|
|
|
1,510,720 |
| ||
TOTAL COMMON STOCKS 94.8% |
|
|
|
26,704,085 |
| ||
|
|
|
|
|
| ||
|
|
Par Value |
|
Value |
| ||
SHORT TERM INVESTMENTS 5.1% |
|
|
|
|
| ||
REPURCHASE AGREEMENT 3.3% |
|
|
|
|
| ||
Fixed Income Clearing Corp. Repurchase Agreement, 0.00% dated 12/31/13 due 01/02/14, repurchase price $932,192, collateralized by a Federal National Mortgage Association Bond, 1.500%, due 09/08/14, value plus accrued interest of $100,361, by a Freddie Mac Discount Note, 0.000%, due 12/02/14, value plus accrued interest of $122,686, by a United States Treasury Bill, 0.000%, due 11/13/14, value plus accrued interest of $149,850, by a United States Treasury Bond, 4.250%, due 11/15/14, value plus accrued interest of $249,790, by United States Treasury Notes, 0.250% - 2.375%, due 08/31/14, aggregate value plus accrued interest of $328,148 (Cost: $932,192) |
|
$ |
932,192 |
|
932,192 |
| |
U.S. GOVERNMENT BILLS 1.1% |
|
|
|
|
| ||
United States Treasury Bills, 0.06%, due 02/06/14 - 03/27/14 |
|
300,000 |
|
299,970 |
| ||
|
|
Par Value |
|
Value |
| ||
COMMERCIAL PAPER 0.7% |
|
|
|
|
| ||
J.P. Morgan Securities LLC, 144A, 0.28% - 0.33%, due 06/19/14 - 07/17/14 (c) (d) |
|
$ |
200,000 |
|
$ |
199,688 |
|
TOTAL SHORT TERM INVESTMENTS 5.1% |
|
|
|
1,431,850 |
| ||
TOTAL INVESTMENTS 99.9% |
|
|
|
28,135,935 |
| ||
Other Assets In Excess of Liabilities 0.1% |
|
|
|
36,323 |
| ||
TOTAL NET ASSETS 100.0% |
|
|
|
$ |
28,172,258 |
| |
(a) |
Non-income producing security |
(b) |
See Note 2 in the Notes to Schedules of Investments regarding investments in affiliated issuers. |
(c) |
See Note 1 in the Notes to Schedules of Investments regarding restricted securities. These securities may be resold subject to restrictions on resale under federal securities law. |
(d) |
The rate shown represents the annualized yield at the time of purchase; not a coupon rate. |
OAKMARK INTERNATIONAL SMALL CAP FUND
Global Diversification December 31, 2013 (Unaudited)
|
|
|
|
% of Equity Investments |
|
Europe 63.0% |
|
|
|
|
|
|
|
Switzerland |
|
16.2 |
% |
|
|
United Kingdom |
|
15.4 |
% |
|
* |
France |
|
8.8 |
% |
|
* |
Italy |
|
6.1 |
% |
|
* |
Germany |
|
5.9 |
% |
|
|
Norway |
|
2.8 |
% |
|
* |
Netherlands |
|
2.8 |
% |
|
* |
Finland |
|
2.1 |
% |
|
|
Denmark |
|
2.0 |
% |
|
* |
Greece |
|
0.8 |
% |
|
|
Sweden |
|
0.1 |
% |
Asia 21.1% |
|
|
|
|
|
|
|
Japan |
|
14.1 |
% |
|
|
South Korea |
|
5.1 |
% |
|
|
Hong Kong |
|
1.9 |
% |
Australasia 11.1% |
|
|
|
|
|
|
|
Australia |
|
9.9 |
% |
|
|
New Zealand |
|
1.2 |
% |
Middle East 1.8% |
|
|
|
|
|
|
|
Israel |
|
1.8 |
% |
North America 1.8% |
|
|
|
|
|
|
|
United States |
|
1.4 |
% |
|
|
Canada |
|
0.4 |
% |
Latin America 1.2% |
|
|
|
|
|
|
|
Brazil |
|
1.2 |
% |
* Euro currency countries comprise 26.5% of equity investments.
Oakmark International Small Cap Fund |
December 31, 2013 (Unaudited) |
Schedule of Investments (in thousands) |
|
|
|
Shares |
|
Value |
| |
COMMON STOCKS 93.2% |
|
|
|
|
| |
INDUSTRIALS 31.5% |
|
|
|
|
| |
CAPITAL GOODS 17.9% |
|
|
|
|
| |
Morgan Advanced Materials PLC (UK) |
|
11,089 |
|
$ |
58,411 |
|
Industrial Machinery |
|
|
|
|
| |
Rheinmetall AG (Germany) |
|
943 |
|
58,152 |
| |
Industrial Conglomerates |
|
|
|
|
| |
Konecranes OYJ (Finland) |
|
1,395 |
|
49,610 |
| |
Industrial Machinery |
|
|
|
|
| |
Saft Groupe SA (France) (b) |
|
1,340 |
|
46,102 |
| |
Electrical Components & Equipment |
|
|
|
|
| |
Sulzer AG (Switzerland) |
|
271 |
|
43,684 |
| |
Industrial Machinery |
|
|
|
|
| |
MTU Aero Engines AG (Germany) |
|
389 |
|
38,155 |
| |
Aerospace & Defense |
|
|
|
|
| |
Travis Perkins PLC (UK) |
|
1,203 |
|
37,305 |
| |
Trading Companies & Distributors |
|
|
|
|
| |
Interpump Group SpA (Italy) |
|
2,899 |
|
34,775 |
| |
Industrial Machinery |
|
|
|
|
| |
Bucher Industries AG (Switzerland) |
|
118 |
|
34,208 |
| |
Construction & Farm Machinery & Heavy Trucks |
|
|
|
|
| |
Prysmian SpA (Italy) |
|
1,305 |
|
33,582 |
| |
Electrical Components & Equipment |
|
|
|
|
| |
Wajax Corp. (Canada) |
|
263 |
|
9,015 |
| |
Trading Companies & Distributors |
|
|
|
|
| |
NORMA Group SE (Germany) |
|
181 |
|
8,987 |
| |
Industrial Machinery |
|
|
|
|
| |
|
|
|
|
451,986 |
| |
COMMERCIAL & PROFESSIONAL SERVICES 8.2% |
|
|
|
|
| |
Kaba Holding AG (Switzerland) |
|
154 |
|
75,032 |
| |
Security & Alarm Services |
|
|
|
|
| |
Michael Page International PLC (UK) |
|
6,365 |
|
51,432 |
| |
Human Resource & Employment Services |
|
|
|
|
| |
gategroup Holding AG (Switzerland) (a) (b) |
|
1,640 |
|
44,493 |
| |
Diversified Support Services |
|
|
|
|
| |
SThree PLC (UK) |
|
3,327 |
|
19,904 |
| |
Human Resource & Employment Services |
|
|
|
|
| |
Randstad Holding N.V. (Netherlands) |
|
188 |
|
12,181 |
| |
Human Resource & Employment Services |
|
|
|
|
| |
Cision AB (Sweden) |
|
628 |
|
3,348 |
| |
Research & Consulting Services |
|
|
|
|
| |
|
|
|
|
206,390 |
| |
TRANSPORTATION 5.4% |
|
|
|
|
| |
DSV AS (Denmark) |
|
1,408 |
|
46,177 |
| |
Trucking |
|
|
|
|
| |
Panalpina Welttransport Holding AG (Switzerland) |
|
225 |
|
37,722 |
| |
Air Freight & Logistics |
|
|
|
|
| |
Freightways, Ltd. (New Zealand) |
|
7,133 |
|
27,689 |
| |
Air Freight & Logistics |
|
|
|
|
| |
BBA Aviation PLC (UK) |
|
4,938 |
|
26,214 |
| |
Airport Services |
|
|
|
|
| |
|
|
|
|
137,802 |
| |
|
|
|
|
796,178 |
| |
INFORMATION TECHNOLOGY 16.1% |
|
|
|
|
| |
SOFTWARE & SERVICES 10.5% |
|
|
|
|
| |
Atea ASA (Norway) (b) |
|
6,730 |
|
66,293 |
| |
IT Consulting & Other Services |
|
|
|
|
| |
Altran Technologies SA (France) (a) |
|
6,932 |
|
60,781 |
| |
IT Consulting & Other Services |
|
|
|
|
| |
Alten, Ltd. (France) |
|
1,112 |
|
50,470 |
| |
IT Consulting & Other Services |
|
|
|
|
| |
Capcom Co., Ltd. (Japan) |
|
2,319 |
|
41,549 |
| |
Home Entertainment Software |
|
|
|
|
| |
Totvs SA (Brazil) |
|
1,748 |
|
27,390 |
| |
Systems Software |
|
|
|
|
| |
Oracle Corp. Japan (Japan) |
|
361 |
|
13,181 |
| |
Systems Software |
|
|
|
|
| |
Square Enix Holdings Co., Ltd. (Japan) |
|
337 |
|
5,883 |
| |
Home Entertainment Software |
|
|
|
|
| |
|
|
|
|
265,547 |
| |
TECHNOLOGY HARDWARE & EQUIPMENT 5.6% |
|
|
|
|
| |
Premier Farnell PLC (UK) |
|
17,720 |
|
65,172 |
| |
Technology Distributors |
|
|
|
|
| |
Orbotech, Ltd. (Israel) (a) (b) |
|
3,155 |
|
42,653 |
| |
Electronic Equipment & Instruments |
|
|
|
|
| |
Hirose Electric Co., Ltd. (Japan) |
|
239 |
|
34,040 |
| |
Electronic Components |
|
|
|
|
| |
|
|
|
|
141,865 |
| |
|
|
|
|
407,412 |
| |
CONSUMER DISCRETIONARY 12.7% |
|
|
|
|
| |
AUTOMOBILES & COMPONENTS 5.4% |
|
|
|
|
| |
Nifco, Inc. (Japan) |
|
2,075 |
|
54,905 |
| |
Auto Parts & Equipment |
|
|
|
|
| |
Yamaha Motor Co., Ltd. (Japan) |
|
3,194 |
|
47,822 |
| |
Motorcycle Manufacturers |
|
|
|
|
| |
Autoliv, Inc. (United States) |
|
364 |
|
33,406 |
| |
Auto Parts & Equipment |
|
|
|
|
| |
Takata Corp. (Japan) |
|
32 |
|
911 |
| |
Auto Parts & Equipment |
|
|
|
|
| |
|
|
|
|
137,044 |
| |
RETAILING 5.0% |
|
|
|
|
| |
Myer Holdings, Ltd. (Australia) |
|
22,385 |
|
54,965 |
| |
Department Stores |
|
|
|
|
| |
Hengdeli Holdings, Ltd. (Hong Kong) |
|
192,632 |
|
45,461 |
| |
Specialty Stores |
|
|
|
|
| |
Carpetright PLC (UK) (a) |
|
3,168 |
|
26,389 |
| |
Home Improvement Retail |
|
|
|
|
| |
|
|
|
|
126,815 |
| |
|
|
Shares |
|
Value |
| ||
MEDIA 1.3% |
|
|
|
|
| ||
Asatsu-DK, Inc. (Japan) |
|
1,405 |
|
$ |
32,875 |
| |
Advertising |
|
|
|
|
| ||
CONSUMER DURABLES & APPAREL 1.0% |
|
|
|
|
| ||
Vitec Group PLC (UK) (b) |
|
2,213 |
|
23,418 |
| ||
Photographic Products |
|
|
|
|
| ||
|
|
|
|
320,152 |
| ||
FINANCIALS 12.3% |
|
|
|
|
| ||
DIVERSIFIED FINANCIALS 5.4% |
|
|
|
|
| ||
Julius Baer Group, Ltd. (Switzerland) |
|
2,158 |
|
103,641 |
| ||
Asset Management & Custody Banks |
|
|
|
|
| ||
MLP AG (Germany) |
|
4,568 |
|
32,745 |
| ||
Asset Management & Custody Banks |
|
|
|
|
| ||
|
|
|
|
136,386 |
| ||
BANKS 4.8% |
|
|
|
|
| ||
DGB Financial Group, Inc. (South Korea) |
|
3,975 |
|
62,152 |
| ||
Regional Banks |
|
|
|
|
| ||
BS Financial Group, Inc. (South Korea) |
|
3,851 |
|
58,380 |
| ||
Regional Banks |
|
|
|
|
| ||
|
|
|
|
120,532 |
| ||
REAL ESTATE 2.1% |
|
|
|
|
| ||
LSL Property Services PLC (UK) (b) |
|
7,461 |
|
54,365 |
| ||
Real Estate Services |
|
|
|
|
| ||
|
|
|
|
311,283 |
| ||
CONSUMER STAPLES 7.5% |
|
|
|
|
| ||
FOOD, BEVERAGE & TOBACCO 5.3% |
|
|
|
|
| ||
Goodman Fielder, Ltd. (Australia) (b) |
|
98,751 |
|
60,399 |
| ||
Packaged Foods & Meats |
|
|
|
|
| ||
Treasury Wine Estates, Ltd. (Australia) |
|
9,649 |
|
41,525 |
| ||
Distillers & Vintners |
|
|
|
|
| ||
Davide Campari-Milano SPA (Italy) |
|
3,806 |
|
31,837 |
| ||
Distillers & Vintners |
|
|
|
|
| ||
|
|
|
|
133,761 |
| ||
FOOD & STAPLES RETAILING 2.2% |
|
|
|
|
| ||
Sugi Holdings Co., Ltd. (Japan) |
|
1,393 |
|
56,536 |
| ||
Drug Retail |
|
|
|
|
| ||
|
|
|
|
190,297 |
| ||
MATERIALS 5.8% |
|
|
|
|
| ||
Incitec Pivot, Ltd. (Australia) |
|
25,381 |
|
60,735 |
| ||
Diversified Chemicals |
|
|
|
|
| ||
Kansai Paint Co., Ltd. (Japan) |
|
2,669 |
|
39,412 |
| ||
Specialty Chemicals |
|
|
|
|
| ||
Sika AG (Switzerland) |
|
6 |
|
22,786 |
| ||
Specialty Chemicals |
|
|
|
|
| ||
Titan Cement Co. SA (Greece) (a) |
|
703 |
|
19,149 |
| ||
Construction Materials |
|
|
|
|
| ||
Nihon Parkerizing Co., Ltd. (Japan) |
|
179 |
|
3,721 |
| ||
Specialty Chemicals |
|
|
|
|
| ||
|
|
|
|
145,803 |
| ||
ENERGY 4.1% |
|
|
|
|
| ||
Fugro NV (Netherlands) |
|
904 |
|
53,849 |
| ||
Oil & Gas Equipment & Services |
|
|
|
|
| ||
CGG (France) (a) |
|
2,853 |
|
49,382 |
| ||
Oil & Gas Equipment & Services |
|
|
|
|
| ||
|
|
|
|
103,231 |
| ||
HEALTH CARE 3.2% |
|
|
|
|
| ||
HEALTH CARE EQUIPMENT & SERVICES 2.4% |
|
|
|
|
| ||
Amplifon S.p.A. (Italy) |
|
7,610 |
|
42,273 |
| ||
Health Care Distributors |
|
|
|
|
| ||
Primary Health Care, Ltd. (Australia) |
|
3,892 |
|
17,203 |
| ||
Health Care Services |
|
|
|
|
| ||
|
|
|
|
59,476 |
| ||
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES 0.8% |
|
|
|
|
| ||
Tecan Group AG (Switzerland) |
|
173 |
|
20,472 |
| ||
Life Sciences Tools & Services |
|
|
|
|
| ||
|
|
|
|
79,948 |
| ||
TOTAL COMMON STOCKS 93.2% |
|
|
|
2,354,304 |
| ||
|
|
|
|
|
| ||
|
|
Par Value |
|
Value |
| ||
SHORT TERM INVESTMENTS 6.4% |
|
|
|
|
| ||
REPURCHASE AGREEMENT 6.4% |
|
|
|
|
| ||
Fixed Income Clearing Corp. Repurchase Agreement, 0.00% dated 12/31/13 due 01/02/14, repurchase price $161,385, collateralized by United States Treasury Notes, 0.375% - 1.875%, due 06/30/15, aggregate value plus accrued interest of $164,614 (Cost: $161,385) |
|
$ |
161,385 |
|
161,385 |
| |
TOTAL SHORT TERM INVESTMENTS 6.4% |
|
|
|
161,385 |
| ||
TOTAL INVESTMENTS 99.6% |
|
|
|
2,515,689 |
| ||
Other Assets In Excess of Liabilities 0.4% |
|
|
|
10,263 |
| ||
TOTAL NET ASSETS 100.0% |
|
|
|
$ |
2,525,952 |
| |
(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 (Intl 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 Funds 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 December 31, 2013 there were no transfers between levels.
The following is a summary of the inputs used as of December 31, 2013 in valuing each Funds 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 Funds Schedule of Investments. Information on forward foreign currency contracts is presented by contract in the notes following the below summary:
(in thousands) |
|
Quoted Prices |
|
Other |
|
Significant |
| |||
Oakmark |
|
|
|
|
|
|
| |||
Common Stocks |
|
$ |
11,485,227 |
|
$ |
0 |
|
$ |
0 |
|
Short Term Investments |
|
0 |
|
635,326 |
|
0 |
| |||
Total |
|
$ |
11,485,227 |
|
$ |
635,326 |
|
$ |
0 |
|
Select |
|
|
|
|
|
|
| |||
Common Stocks |
|
$ |
4,187,562 |
|
$ |
0 |
|
$ |
0 |
|
Short Term Investments |
|
0 |
|
287,064 |
|
0 |
| |||
Total |
|
$ |
4,187,562 |
|
$ |
287,064 |
|
$ |
0 |
|
Equity and Income |
|
|
|
|
|
|
| |||
Common Stocks |
|
$ |
14,233,257 |
|
$ |
0 |
|
$ |
0 |
|
Government and Agency Securities |
|
0 |
|
1,839,441 |
|
0 |
| |||
Corporate Bonds |
|
0 |
|
470,506 |
|
0 |
| |||
Asset Backed Securities |
|
0 |
|
11,505 |
|
0 |
| |||
Convertible Bonds |
|
0 |
|
840 |
|
0 |
| |||
Short Term Investments |
|
0 |
|
3,926,215 |
|
0 |
| |||
Total |
|
$ |
14,233,257 |
|
$ |
6,248,507 |
|
$ |
0 |
|
Global |
|
|
|
|
|
|
| |||
Common Stocks |
|
$ |
3,242,822 |
|
$ |
0 |
|
$ |
0 |
|
Short Term Investments |
|
0 |
|
46,488 |
|
0 |
| |||
Forward Foreign Currency Contracts - Assets |
|
0 |
|
123 |
|
0 |
| |||
Forward Foreign Currency Contracts - Liabilities |
|
0 |
|
(5,867 |
) |
0 |
| |||
Total |
|
$ |
3,242,822 |
|
$ |
40,744 |
|
$ |
0 |
|
Global Select |
|
|
|
|
|
|
| |||
Common Stocks |
|
$ |
1,406,719 |
|
$ |
0 |
|
$ |
0 |
|
Short Term Investments |
|
0 |
|
75,464 |
|
0 |
| |||
Forward Foreign Currency Contracts - Assets |
|
0 |
|
27 |
|
0 |
| |||
Forward Foreign Currency Contracts - Liabilities |
|
0 |
|
(1,995 |
) |
0 |
| |||
Total |
|
$ |
1,406,719 |
|
$ |
73,496 |
|
$ |
0 |
|
International |
|
|
|
|
|
|
| |||
Common Stocks |
|
$ |
26,704,085 |
|
$ |
0 |
|
$ |
0 |
|
Short Term Investments |
|
0 |
|
1,431,850 |
|
0 |
| |||
Forward Foreign Currency Contracts - Assets |
|
0 |
|
2,664 |
|
0 |
| |||
Forward Foreign Currency Contracts - Liabilities |
|
0 |
|
(52,545 |
) |
0 |
| |||
Total |
|
$ |
26,704,085 |
|
$ |
1,381,969 |
|
$ |
0 |
|
Intl Small Cap |
|
|
|
|
|
|
| |||
Common Stocks |
|
$ |
2,354,304 |
|
$ |
0 |
|
$ |
0 |
|
Short Term Investments |
|
0 |
|
161,385 |
|
0 |
| |||
Forward Foreign Currency Contracts - Assets |
|
0 |
|
1,036 |
|
0 |
| |||
Forward Foreign Currency Contracts - Liabilities |
|
0 |
|
(3,787 |
) |
0 |
| |||
Total |
|
$ |
2,354,304 |
|
$ |
158,634 |
|
$ |
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. 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
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 days 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 December 31, 2013 Global, Global Select, International, and Intl Small Cap held forward foreign currency contracts, which are considered derivative instruments, each of whose counterparty is State Street Bank and Trust Company (State Street), as follows (in thousands):
Global
|
|
Contract |
|
Settlement |
|
Valuation at |
|
Unrealized |
| ||
Foreign Currency Sold: |
|
|
|
|
|
|
|
|
| ||
Australian Dollar |
|
28,600 |
|
09/17/14 |
|
$ |
25,099 |
|
$ |
72 |
|
Swiss Franc |
|
168,800 |
|
03/19/14 |
|
189,358 |
|
(5,816 |
) | ||
|
|
|
|
|
|
$ |
214,457 |
|
$ |
(5,744 |
) |
During the period ended December 31, 2013 the proceeds from forward foreign currency contracts opened for Global were $87,440 and the cost to close or settle contracts was $94,147 (in thousands).
Global Select
|
|
Contract |
|
Settlement |
|
Valuation at |
|
Unrealized |
| ||
Foreign Currency Sold: |
|
|
|
|
|
|
|
|
| ||
Swiss Franc |
|
60,550 |
|
03/19/14 |
|
$ |
67,924 |
|
$ |
(1,968 |
) |
|
|
|
|
|
|
$ |
67,924 |
|
$ |
(1,968 |
) |
During the period ended December 31, 2013 the proceeds from forward foreign currency contracts opened for Global Select were $22,844 and the cost to close contracts was $8,163 (in thousands).
International
|
|
Contract |
|
Settlement |
|
Valuation at |
|
Unrealized |
| ||
Foreign Currency Bought: |
|
|
|
|
|
|
|
|
| ||
Swedish Krona |
|
350,000 |
|
06/18/14 |
|
$ |
54,265 |
|
$ |
884 |
|
|
|
|
|
|
|
$ |
54,265 |
|
$ |
884 |
|
Foreign Currency Sold: |
|
|
|
|
|
|
|
|
| ||
Australian Dollar |
|
473,600 |
|
09/17/14 |
|
$ |
415,626 |
|
$ |
1,189 |
|
Swedish Krona |
|
2,542,000 |
|
06/18/14 |
|
394,116 |
|
(5,230 |
) | ||
Swiss Franc |
|
1,445,000 |
|
03/19/14 |
|
1,620,981 |
|
(46,724 |
) | ||
|
|
|
|
|
|
$ |
2,430,723 |
|
$ |
(50,765 |
) |
During the period ended December 31, 2013 the proceeds from forward foreign currency contracts opened for International were $1,184,629 and the cost to close or settle contracts was $742,516 (in thousands).
Intl Small Cap
|
|
Contract |
|
Settlement |
|
Valuation at |
|
Unrealized |
| ||
Foreign Currency Bought: |
|
|
|
|
|
|
|
|
| ||
Swedish Krona |
|
2,550 |
|
06/18/14 |
|
$ |
395 |
|
$ |
6 |
|
|
|
|
|
|
|
$ |
395 |
|
$ |
6 |
|
Foreign Currency Sold: |
|
|
|
|
|
|
|
|
| ||
Australian Dollar |
|
82,200 |
|
09/17/14 |
|
$ |
72,138 |
|
$ |
206 |
|
Norwegian Krone |
|
194,200 |
|
06/18/14 |
|
31,827 |
|
783 |
| ||
Swedish Krona |
|
8,780 |
|
06/18/14 |
|
1,361 |
|
(17 |
) | ||
Swiss Franc |
|
114,900 |
|
03/19/14 |
|
128,893 |
|
(3,729 |
) | ||
|
|
|
|
|
|
$ |
234,219 |
|
$ |
(2,757 |
) |
During the period ended December 31, 2013 the proceeds from forward foreign currency contracts opened for Intl Small Cap were $140,837 and the cost to close or settle contracts was $111,076 (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 December 31, 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 Funds 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 December 31, 2013 none of the Funds had securities on loan.
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 December 31, 2013 Equity and Income and International held the following restricted securities:
Equity and Income
Par Value |
|
Security Name |
|
Acquisition |
|
Carrying |
|
Original Cost |
|
Value (000) |
|
Percentage of Net |
| ||||
$ |
2,000 |
|
Activision Blizzard, Inc., 144A, 6.125%, due 09/15/23 |
|
09/17/13 |
|
$ |
104.2500 |
|
$ |
101.6250 |
|
$ |
2,085 |
|
0.01 |
% |
1,000 |
|
Activision Blizzard, Inc., 144A, 6.125%, due 09/15/23 |
|
09/12/13 |
|
104.2500 |
|
100.0000 |
|
1,043 |
|
0.01 |
% | ||||
1,000 |
|
Activision Blizzard, Inc., 144A, 5.625%, due 09/15/21 |
|
09/12/13 |
|
103.5000 |
|
100.0000 |
|
1,035 |
|
0.01 |
% |
20,000 |
|
BMW US Capital LLC, 144A, 0.09%, due 01/16/14 |
|
12/17/13 |
|
99.9963 |
|
99.9925 |
|
19,999 |
|
0.10 |
% |
15,500 |
|
BMW US Capital LLC, 144A, 0.09%, due 01/31/14 |
|
12/19/13 |
|
99.9925 |
|
99.9893 |
|
15,499 |
|
0.08 |
% |
32,000 |
|
BP Capital Markets PLC, 144A, 0.07%, due 01/02/14 |
|
11/26/13 |
|
99.9998 |
|
99.9928 |
|
32,000 |
|
0.16 |
% |
11,450 |
|
Cabelas Master Credit Card Trust,.144A, 0.717%, due 10/15/19 |
|
10/20/11 |
|
100.4783 |
|
100.0000 |
|
11,505 |
|
0.06 |
% |
50,000 |
|
Chevron Corp., 144A, 0.07%, due 01/03/14 |
|
11/19/13 |
|
99.9996 |
|
99.9913 |
|
50,000 |
|
0.24 |
% |
50,000 |
|
Chevron Corp., 144A, 0.07%, due 01/06/14 |
|
11/20/13 |
|
99.9990 |
|
99.9909 |
|
49,999 |
|
0.24 |
% |
50,000 |
|
Chevron Corp., 144A, 0.07%, due 01/08/14 |
|
11/19/13 |
|
99.9986 |
|
99.9903 |
|
49,999 |
|
0.24 |
% |
50,000 |
|
Chevron Corp., 144A, 0.08%, due 02/18/14 |
|
12/02/13 |
|
99.9893 |
|
99.9827 |
|
49,995 |
|
0.24 |
% |
50,000 |
|
Chevron Corp., 144A, 0.07%, due 02/21/14 |
|
12/06/13 |
|
99.9901 |
|
99.9850 |
|
49,995 |
|
0.24 |
% |
25,000 |
|
Chevron Corp., 144A, 0.07%, due 01/07/14 |
|
11/19/13 |
|
99.9988 |
|
99.9905 |
|
25,000 |
|
0.12 |
% |
25,000 |
|
Chevron Corp., 144A, 0.08%, due 02/14/14 |
|
12/03/13 |
|
99.9902 |
|
99.9838 |
|
24,998 |
|
0.12 |
% |
250 |
|
CNO Financial Group, Inc., 144A, 6.375%, due 10/01/20 |
|
09/20/12 |
|
106.5000 |
|
100.0000 |
|
266 |
|
0.00 |
%* |
30,000 |
|
Credit Suisse Group AG, 144A, 7.50%, due 12/31/49 |
|
12/04/13 |
|
105.6250 |
|
100.0000 |
|
31,688 |
|
0.15 |
% |
30,000 |
|
General Mills Inc., 144A, 0.13%, due 01/06/14 |
|
12/13/13 |
|
99.9982 |
|
99.9913 |
|
29,999 |
|
0.15 |
% |
30,000 |
|
General Mills Inc., 144A, 0.13%, due 01/09/14 |
|
12/12/13 |
|
99.9971 |
|
99.9899 |
|
29,999 |
|
0.15 |
% |
25,000 |
|
General Mills Inc., 144A, 0.14%, due 01/17/14 |
|
12/23/13 |
|
99.9938 |
|
99.9903 |
|
24,998 |
|
0.12 |
% |
20,000 |
|
General Mills Inc., 144A, 0.13%, due 01/02/14 |
|
12/23/13 |
|
99.9996 |
|
99.9924 |
|
20,000 |
|
0.10 |
% |
20,000 |
|
General Mills Inc., 144A, 0.17%, due 01/15/14 |
|
12/20/13 |
|
99.9934 |
|
99.9877 |
|
19,999 |
|
0.10 |
% |
20,000 |
|
General Mills Inc., 144A, 0.13%, due 01/17/14 |
|
12/17/13 |
|
99.9942 |
|
99.9888 |
|
19,999 |
|
0.10 |
% |
17,000 |
|
General Mills Inc., 144A, 0.30%, due 01/07/14 |
|
10/17/13 |
|
99.9950 |
|
99.9317 |
|
16,999 |
|
0.08 |
% |
8,000 |
|
General Mills Inc., 144A, 0.15%, due 01/13/14 |
|
12/18/13 |
|
99.9950 |
|
99.9892 |
|
8,000 |
|
0.04 |
% |
5,000 |
|
General Mills Inc., 144A, 0.13%, |
|
12/13/13 |
|
99.9968 |
|
99.9899 |
|
5,000 |
|
0.02 |
% |
|
|
due 01/10/14 |
|
|
|
|
|
|
|
|
|
|
|
29,525 |
|
General Motors Co., 144A, 3.50%, due 10/02/18 |
|
09/24/13 |
|
102.2500 |
|
100.0000 |
|
30,189 |
|
0.15 |
% |
34,400 |
|
General Motors Co., 144A, 4.875%, due 10/02/23 |
|
09/24/13 |
|
101.2500 |
|
100.0000 |
|
34,830 |
|
0.17 |
% |
5,000 |
|
General Motors Co., 144A, 4.875%, due 10/02/23 |
|
09/25/13 |
|
101.2500 |
|
99.0000 |
|
5,062 |
|
0.03 |
% |
2,000 |
|
General Motors Co., 144A, 4.875%, due 10/02/23 |
|
09/30/13 |
|
101.2500 |
|
97.5000 |
|
2,025 |
|
0.01 |
% |
10,000 |
|
GLP Capital, LP / GLP Financing II, Inc., 144A, 5.375%, due 11/01/23 |
|
10/23/13 |
|
98.2500 |
|
100.0000 |
|
9,825 |
|
0.05 |
% |
2,000 |
|
GLP Capital, LP / GLP Financing II, Inc., 144A, 5.375%, due 11/01/23 |
|
11/26/13 |
|
98.2500 |
|
98.2500 |
|
1,965 |
|
0.01 |
% |
10,000 |
|
GLP Capital, LP / GLP Financing II, Inc., 144A, 4.875%, due 11/01/20 |
|
10/23/13 |
|
100.0000 |
|
100.0000 |
|
10,000 |
|
0.05 |
% |
5,000 |
|
GLP Capital, LP / GLP Financing II, Inc., 144A, 4.375%, due 11/01/18 |
|
10/23/13 |
|
102.2500 |
|
100.0000 |
|
5,113 |
|
0.03 |
% |
10,000 |
|
Howard Hughes Corp., 144A, 6.875%, due 10/01/21 |
|
09/27/13 |
|
104.0000 |
|
100.0000 |
|
10,400 |
|
0.05 |
% |
25,000 |
|
J.P. Morgan Securities LLC, 144A, 0.30%, due 06/19/14 |
|
12/19/13 |
|
99.8583 |
|
99.8492 |
|
24,965 |
|
0.12 |
% |
5,000 |
|
J.P. Morgan Securities LLC, 144A, 0.18%, due 05/27/14 |
|
12/27/13 |
|
99.8873 |
|
99.9245 |
|
4,994 |
|
0.03 |
% |
9,605 |
|
Live Nation Entertainment, Inc., 144A, 7.00%, due 09/01/20 |
|
08/15/12 |
|
108.5000 |
|
100.0000 |
|
10,421 |
|
0.05 |
% |
30,000 |
|
Medtronic, Inc.,144A, 0.07%, due 02/04/14 |
|
12/06/13 |
|
99.9934 |
|
99.9883 |
|
29,998 |
|
0.15 |
% |
75,000 |
|
MetLife, Inc., 144A, 0.10%, due 01/30/14 |
|
12/16/13 |
|
99.9919 |
|
99.9875 |
|
74,994 |
|
0.37 |
% |
52,277 |
|
MetLife, Inc., 144A, 0.13%, due 03/03/14 |
|
12/26/13 |
|
99.9740 |
|
99.9758 |
|
52,263 |
|
0.26 |
% |
50,000 |
|
MetLife, Inc., 144A, 0.11%, due 01/23/14 |
|
12/09/13 |
|
99.9933 |
|
99.9863 |
|
49,997 |
|
0.24 |
% |
50,000 |
|
MetLife, Inc., 144A, 0.11%, due 01/27/14 |
|
12/16/13 |
|
99.9921 |
|
99.9872 |
|
49,996 |
|
0.24 |
% |
50,000 |
|
MetLife, Inc., 144A, 0.11%, due 01/28/14 |
|
12/11/13 |
|
99.9918 |
|
99.9853 |
|
49,996 |
|
0.24 |
% |
50,000 |
|
MetLife, Inc., 144A, 0.10%, due 01/29/14 |
|
12/19/13 |
|
99.9922 |
|
99.9886 |
|
49,996 |
|
0.24 |
% |
50,000 |
|
MetLife, Inc., 144A, 0.14%, due 03/03/14 |
|
12/18/13 |
|
99.9740 |
|
99.9708 |
|
49,987 |
|
0.24 |
% |
50,000 |
|
MetLife, Inc., 144A, 0.14%, due |
|
12/17/13 |
|
99.9660 |
|
99.9650 |
|
49,983 |
|
0.24 |
% |
|
|
03/17/14 |
|
|
|
|
|
|
|
|
|
|
|
25,000 |
|
MetLife, Inc., 144A, 0.11%, due 01/24/14 |
|
12/09/13 |
|
99.9930 |
|
99.9859 |
|
24,998 |
|
0.12 |
% |
25,000 |
|
MetLife, Inc., 144A, 0.13%, due 03/10/14 |
|
12/11/13 |
|
99.9701 |
|
99.9679 |
|
24,992 |
|
0.12 |
% |
25,000 |
|
MetLife, Inc., 144A, 0.15%, due 03/18/14 |
|
12/23/13 |
|
99.9656 |
|
99.9646 |
|
24,991 |
|
0.12 |
% |
25,000 |
|
MetLife, Inc., 144A, 0.15%, due 03/19/14 |
|
12/23/13 |
|
99.9649 |
|
99.9642 |
|
24,991 |
|
0.12 |
% |
25,000 |
|
MetLife, Inc., 144A, 0.14%, due 03/24/14 |
|
12/12/13 |
|
99.9620 |
|
99.9603 |
|
24,990 |
|
0.12 |
% |
20,000 |
|
MetLife, Inc., 144A, 0.10%, due 01/14/14 |
|
12/17/13 |
|
99.9964 |
|
99.9922 |
|
19,999 |
|
0.10 |
% |
18,000 |
|
MetLife, Inc., 144A, 0.15%, due 05/05/14 |
|
12/31/13 |
|
99.9330 |
|
99.9479 |
|
17,988 |
|
0.09 |
% |
10,000 |
|
MetLife, Inc., 144A, 0.10%, due 01/16/14 |
|
12/17/13 |
|
99.9958 |
|
99.9917 |
|
10,000 |
|
0.05 |
% |
10,000 |
|
Penn National Gaming, Inc., 144A, 5.875%, due 11/01/21 |
|
10/21/13 |
|
98.7500 |
|
100.0000 |
|
9,875 |
|
0.05 |
% |
2,000 |
|
Penn National Gaming, Inc., 144A, 5.875%, due 11/01/21 |
|
11/08/13 |
|
98.7500 |
|
99.0000 |
|
1,975 |
|
0.01 |
% |
2,000 |
|
Quiksilver, Inc. / QS Wholesale, Inc., 144A, 7.875%, due 08/01/18 |
|
07/11/13 |
|
108.5000 |
|
99.4830 |
|
2,170 |
|
0.01 |
% |
6,000 |
|
Scotiabank Peru SA, 144A, 4.50%, due 12/13/27 |
|
12/06/12 |
|
87.5000 |
|
100.0000 |
|
5,250 |
|
0.03 |
% |
2,725 |
|
Serta Simmons Holdings LLC, 144A, 8.125%, due 10/01/20 |
|
09/27/12 |
|
108.7500 |
|
99.8750 |
|
2,964 |
|
0.01 |
% |
2,265 |
|
Serta Simmons Holdings LLC, 144A, 8.125%, due 10/01/20 |
|
09/26/12 |
|
108.7500 |
|
99.0000 |
|
2,463 |
|
0.01 |
% |
40,000 |
|
Shell International Finance BV, 144A, 0.07%, due 01/16/14 |
|
11/19/13 |
|
99.9971 |
|
99.9887 |
|
39,999 |
|
0.20 |
% |
75,000 |
|
Shell International Finance BV, 144A, 0.07%, due 01/21/14 |
|
11/20/13 |
|
99.9961 |
|
99.9879 |
|
74,997 |
|
0.37 |
% |
50,000 |
|
Shell International Finance BV, 144A, 0.07%, due 01/27/14 |
|
11/20/13 |
|
99.9949 |
|
99.9868 |
|
49,997 |
|
0.25 |
% |
25,000 |
|
Shell International Finance BV, 144A, 0.07%, due 01/22/14 |
|
11/21/13 |
|
99.9959 |
|
99.9879 |
|
24,999 |
|
0.12 |
% |
25,000 |
|
Shell International Finance BV, 144A, 0.07%, due 01/24/14 |
|
11/20/13 |
|
99.9955 |
|
99.9874 |
|
24,999 |
|
0.12 |
% |
25,000 |
|
Shell International Finance BV, 144A, 0.06%, due 02/03/14 |
|
12/03/13 |
|
99.9945 |
|
99.9897 |
|
24,999 |
|
0.12 |
% |
25,000 |
|
Shell International Finance BV, 144A, 0.06%, due 02/04/14 |
|
12/03/13 |
|
99.9943 |
|
99.9895 |
|
24,999 |
|
0.12 |
% |
25,000 |
|
Shell International Finance BV, 144A, 0.06%, due 02/05/14 |
|
12/03/13 |
|
99.9942 |
|
99.9893 |
|
24,999 |
|
0.12 |
% |
20,000 |
|
Shell International Finance BV, 144A, 0.07%, due 01/21/14 |
|
11/19/13 |
|
99.9961 |
|
99.9878 |
|
19,999 |
|
0.10 |
% | |
6,820 |
|
Six Flags Entertainment Corp., 144A, 5.25%, due 01/15/21 |
|
12/11/12 |
|
97.7500 |
|
100.0000 |
|
6,667 |
|
0.03 |
% | |
3,150 |
|
Six Flags Entertainment Corp., 144A, 5.25%, due 01/15/21 |
|
12/11/12 |
|
97.7500 |
|
101.0000 |
|
3,079 |
|
0.02 |
% | |
80,000 |
|
Wal-mart Stores, Inc., 144A, 0.05%, due 02/10/14 |
|
12/31/13 |
|
99.9944 |
|
99.9943 |
|
79,996 |
|
0.39 |
% | |
50,000 |
|
Wal-mart Stores, Inc., 144A, 0.06%, due 02/24/14 |
|
12/31/13 |
|
99.9910 |
|
99.9908 |
|
49,995 |
|
0.25 |
% | |
30,000 |
|
Wal-mart Stores, Inc., 144A, 0.06%, due 02/25/14 |
|
12/31/13 |
|
99.9908 |
|
99.9907 |
|
29,997 |
|
0.15 |
% | |
25,000 |
|
Wellpoint, Inc., 144A, 0.33%, due 01/09/14 |
|
10/10/13 |
|
99.9927 |
|
99.9166 |
|
24,998 |
|
0.12 |
% | |
25,000 |
|
Wellpoint, Inc., 144A, 0.36%, due 01/10/14 |
|
10/11/13 |
|
99.9913 |
|
99.9115 |
|
24,998 |
|
0.12 |
% | |
25,000 |
|
Wellpoint, Inc., 144A, 0.36%, due 01/14/14 |
|
10/15/13 |
|
99.9874 |
|
99.9115 |
|
24,997 |
|
0.12 |
% | |
25,000 |
|
Wellpoint, Inc., 144A, 0.36%, due 01/15/14 |
|
10/15/13 |
|
99.9864 |
|
99.9106 |
|
24,997 |
|
0.12 |
% | |
7,000 |
|
The William Carter Co., 144A, 5.25%, due 08/15/21 |
|
08/15/13 |
|
101.5000 |
|
101.0000 |
|
7,105 |
|
0.03 |
% | |
7,000 |
|
The William Carter Co., 144A, 5.25%, due 08/15/21 |
|
09/10/13 |
|
101.5000 |
|
100.2500 |
|
7,105 |
|
0.03 |
% | |
5,502 |
|
The William Carter Co., 144A, 5.25%, due 08/15/21 |
|
08/14/13 |
|
101.5000 |
|
101.2500 |
|
5,585 |
|
0.03 |
% | |
5,000 |
|
The William Carter Co., 144A, 5.25%, due 08/15/21 |
|
08/13/13 |
|
101.5000 |
|
101.2500 |
|
5,075 |
|
0.03 |
% | |
2,000 |
|
The William Carter Co., 144A, 5.25%, due 08/15/21 |
|
08/12/13 |
|
101.5000 |
|
101.3750 |
|
2,030 |
|
0.01 |
% | |
1,400 |
|
The William Carter Co., 144A, 5.25%, due 08/15/21 |
|
08/26/13 |
|
101.5000 |
|
100.5000 |
|
1,421 |
|
0.01 |
% | |
100 |
|
The William Carter Co., 144A, 5.25%, due 08/15/21 |
|
09/10/13 |
|
101.5000 |
|
100.0000 |
|
101 |
|
0.00 |
%* | |
|
|
|
|
|
|
|
|
|
|
$ |
2,002,877 |
|
9.79 |
% |
International
Par Value |
|
Security Name |
|
Acquisition |
|
Carrying |
|
Original Cost |
|
Value (000) |
|
Percentage of Net |
| ||||
$ |
100,000 |
|
J.P. Morgan Securities LLC, 144A, 0.28%, due 06/26/14 |
|
12/26/13 |
|
$ |
99.8491 |
|
$ |
99.8592 |
|
$ |
99,849 |
|
0.35 |
% |
50,000 |
|
J.P. Morgan Securities LLC, 144A, 0.30%, due 06/19/14 |
|
12/19/13 |
|
99.8583 |
|
99.8492 |
|
49,929 |
|
0.18 |
% | ||||
50,000 |
|
J.P. Morgan Securities LLC, 144A, 0.33%, due 07/17/14 |
|
12/19/13 |
|
99.8196 |
|
99.8142 |
|
49,910 |
|
0.18 |
% | ||||
|
|
|
|
|
|
|
|
|
|
$ |
199,688 |
|
0.71 |
% | |||
* 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 companys voting securities during all or part of the period ended December 31, 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
Equity and Income
Affiliates |
|
Shares Held |
|
Purchases |
|
Sales |
|
Dividend |
|
Interest |
|
Value |
|
Value |
| ||||||
Foot Locker, Inc. |
|
7,711 |
|
$ |
0 |
|
$ |
0 |
|
$ |
1,542 |
|
0 |
|
261,705 |
|
$ |
319,535 |
| ||
Foot Locker, Inc., 8.50%, due 01/15/22 |
|
395 |
|
458 |
|
0 |
|
0 |
|
6 |
|
0 |
|
456 |
| ||||||
Lear Corp. |
|
4,424 |
|
0 |
|
0 |
|
752 |
|
0 |
|
316,601 |
|
358,183 |
| ||||||
TOTALS |
|
|
|
$ |
458 |
|
$ |
0 |
|
$ |
2,294 |
|
$ |
6 |
|
$ |
578,306 |
|
$ |
678,174 |
|
Schedule of Transactions with Affiliated Issuers
International
Affiliates |
|
Shares Held |
|
Purchases |
|
Sales |
|
Dividend |
|
Value |
|
Value |
|
|
| |||||
Meitec Corp. |
|
2,625 |
|
$ |
0 |
|
$ |
4,915 |
|
$ |
1 |
|
80,693 |
|
$ |
70,990 |
|
|
| |
Orica, Ltd. |
|
33,070 |
|
83,800 |
|
36,314 |
|
16,083 |
|
572,490 |
|
704,547 |
|
|
| |||||
Willis Group Holdings PLC |
|
12,786 |
|
12,458 |
|
0 |
|
3,580 |
|
541,829 |
|
572,950 |
|
|
| |||||
TOTALS |
|
|
|
$ |
96,258 |
|
$ |
41,229 |
|
$ |
19,664 |
|
$ |
1,195,012 |
|
$ |
1,348,487 |
|
|
|
Schedule of Transactions with Affiliated Issuers
Intl Small Cap
Affiliates |
|
Shares Held |
|
Purchases |
|
Sales |
|
Dividend |
|
Value |
|
Value |
|
|
| |||||
Atea ASA |
|
6,730 |
|
$ |
7,292 |
|
$ |
0 |
|
$ |
4,361 |
|
63,525 |
|
$ |
66,293 |
|
|
| |
Goodman Fielder, Ltd. |
|
98,751 |
|
4,521 |
|
0 |
|
0 |
|
60,489 |
|
60,399 |
|
|
| |||||
LSL Property Services PLC |
|
7,461 |
|
10,699 |
|
0 |
|
0 |
|
44,805 |
|
54,365 |
|
|
| |||||
Orbotech, Ltd. (a) |
|
3,155 |
|
0 |
|
4,808 |
|
0 |
|
41,972 |
|
42,653 |
|
|
| |||||
Saft Groupe SA |
|
1,340 |
|
0 |
|
0 |
|
0 |
|
36,977 |
|
46,102 |
|
|
| |||||
Vitec Group PLC |
|
2,213 |
|
0 |
|
0 |
|
0 |
|
24,417 |
|
23,418 |
|
|
| |||||
gategroup Holding AG (a) |
|
1,640 |
|
0 |
|
0 |
|
0 |
|
41,984 |
|
44,493 |
|
|
| |||||
TOTALS |
|
|
|
$ |
22,512 |
|
$ |
4,808 |
|
$ |
4,361 |
|
$ |
314,169 |
|
$ |
337,723 |
|
|
|
(a) Non-income producing security.
3. FEDERAL INCOME TAXES
At December 31, 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 |
|
Gross Unrealized |
|
Gross Unrealized |
|
Net Unrealized |
|
Oakmark |
|
7,691,089 |
|
4,429,464 |
|
0 |
|
4,429,464 |
|
Select |
|
2,673,743 |
|
1,807,752 |
|
(6,869 |
) |
1,800,883 |
|
Equity and Income |
|
14,944,366 |
|
5,554,080 |
|
(16,682 |
) |
5,537,398 |
|
Global |
|
2,534,037 |
|
779,781 |
|
(24,508 |
) |
755,273 |
|
Global Select |
|
1,182,228 |
|
302,873 |
|
(2,918 |
) |
299,955 |
|
International |
|
23,472,704 |
|
4,913,900 |
|
(250,669 |
) |
4,663,231 |
|
Intl Small Cap |
|
2,139,773 |
|
451,212 |
|
(75,296 |
) |
375,916 |
|
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 Registrants principal executive and principal financial officers have concluded, based on an evaluation of the Registrants 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 Registrants management, including the Registrants principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure.
(b) There were no changes in the Registrants 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 Registrants most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrants 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: |
February 19, 2014 |
|
|
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: |
February 19, 2014 |
|
|
|
|
|
|
|
|
|
|
By: |
/s/ Thomas E. Herman |
|
|
|
Thomas E. Herman |
|
|
|
Principal Financial Officer |
|
|
Date: |
February 19, 2014 |
|
|
Exhibit 99.CERT
Exh. (a)(1)
I, Kristi L. Rowsell, certify that:
1. I have reviewed this report on Form N-Q of Harris Associates Investment Trust (the Registrant);
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the Registrant as of the end of the fiscal quarter for which the report is filed;
4. The Registrants other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:
(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
(c) Evaluated the effectiveness of the Registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and
(d) Disclosed in this report any change in the Registrants internal control over financial reporting that occurred during the Registrants most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Registrants internal control over financial reporting; and
5. The Registrants other certifying officer and I have disclosed to the Registrants auditors and the audit committee of the Registrants board of trustees:
(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrants ability to record, process, summarize, and report financial information; and
(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrants internal control over financial reporting.
Date: February 19, 2014 |
|
|
|
|
|
|
|
|
/s/ Kristi L. Rowsell |
|
|
Kristi L. Rowsell |
|
|
Principal Executive Officer |
|
|
Exh. (a)(2)
I, Thomas E. Herman, certify that:
1. I have reviewed this report on Form N-Q of Harris Associates Investment Trust (the Registrant);
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the Registrant as of the end of the fiscal quarter for which the report is filed;
4. The Registrants other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:
(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
(c) Evaluated the effectiveness of the Registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and
(d) Disclosed in this report any change in the Registrants internal control over financial reporting that occurred during the Registrants most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Registrants internal control over financial reporting; and
5. The Registrants other certifying officer and I have disclosed to the Registrants auditors and the audit committee of the Registrants board of trustees:
(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrants ability to record, process, summarize, and report financial information; and
(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrants internal control over financial reporting.
Date: February 19, 2014 |
|
|
|
|
|
|
|
|
/s/ Thomas E. Herman |
|
|
Thomas E. Herman |
|
|
Principal Financial Officer |
|
|
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