UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF
REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number |
811-06279 | ||||||||
| |||||||||
Harris Associates Investment Trust | |||||||||
(Exact name of registrant as specified in charter) | |||||||||
| |||||||||
111 South Wacker Drive, Suite 4600 Chicago, Illinois |
|
60606-4319 | |||||||
(Address of principal executive offices) |
|
(Zip code) | |||||||
| |||||||||
Kristi L. Rowsell 111 South Wacker Drive, Suite 4600 Chicago, Illinois 60606 |
Alan Goldberg K&L Gates LLP 70 West Madison Street, Suite 3100 Chicago, Illinois 60602 | ||||||||
(Name and address of agents for service) | |||||||||
| |||||||||
Registrants telephone number, including area code: |
(312) 646-3600 |
| |||||||
| |||||||||
Date of fiscal year end: |
9/30/16 |
| |||||||
| |||||||||
Date of reporting period: |
12/31/15 |
| |||||||
Item 1. Schedule of Investments.
Oakmark Fund |
December 31, 2015 (Unaudited) |
Schedule of Investments (in thousands) |
|
|
|
Shares |
|
Value |
| |
COMMON STOCKS 95.0% |
|
|
|
|
| |
FINANCIALS 30.5% |
|
|
|
|
| |
DIVERSIFIED FINANCIALS 12.5% |
|
|
|
|
| |
State Street Corp. |
|
5,180 |
|
$ |
343,745 |
|
Asset Management & Custody Banks |
|
|
|
|
| |
American Express Co. |
|
4,800 |
|
333,840 |
| |
Consumer Finance |
|
|
|
|
| |
The Goldman Sachs Group, Inc. |
|
1,740 |
|
313,600 |
| |
Investment Banking & Brokerage |
|
|
|
|
| |
Capital One Financial Corp. |
|
4,113 |
|
296,862 |
| |
Consumer Finance |
|
|
|
|
| |
Bank of New York Mellon Corp. |
|
6,450 |
|
265,854 |
| |
Asset Management & Custody Banks |
|
|
|
|
| |
Franklin Resources, Inc. |
|
5,339 |
|
196,564 |
| |
Asset Management & Custody Banks |
|
|
|
|
| |
Ally Financial, Inc. (a) |
|
10,456 |
|
194,909 |
| |
Consumer Finance |
|
|
|
|
| |
T Rowe Price Group, Inc. |
|
2,547 |
|
182,069 |
| |
Asset Management & Custody Banks |
|
|
|
|
| |
|
|
|
|
2,127,443 |
| |
BANKS 10.5% |
|
|
|
|
| |
Bank of America Corp. |
|
35,500 |
|
597,465 |
| |
Diversified Banks |
|
|
|
|
| |
Citigroup, Inc. |
|
9,030 |
|
467,303 |
| |
Diversified Banks |
|
|
|
|
| |
JPMorgan Chase & Co. |
|
6,740 |
|
445,042 |
| |
Diversified Banks |
|
|
|
|
| |
Wells Fargo & Co. |
|
5,290 |
|
287,564 |
| |
Diversified Banks |
|
|
|
|
| |
|
|
|
|
1,797,374 |
| |
INSURANCE 7.5% |
|
|
|
|
| |
American International Group, Inc. |
|
7,305 |
|
452,691 |
| |
Multi-line Insurance |
|
|
|
|
| |
Aflac, Inc. |
|
5,670 |
|
339,633 |
| |
Life & Health Insurance |
|
|
|
|
| |
Aon PLC |
|
3,080 |
|
284,007 |
| |
Insurance Brokers |
|
|
|
|
| |
Principal Financial Group, Inc. |
|
4,609 |
|
207,327 |
| |
Life & Health Insurance |
|
|
|
|
| |
|
|
|
|
1,283,658 |
| |
|
|
|
|
5,208,475 |
| |
INFORMATION TECHNOLOGY 25.3% |
|
|
|
|
| |
SOFTWARE & SERVICES 14.6% |
|
|
|
|
| |
MasterCard, Inc., Class A |
|
4,450 |
|
433,252 |
| |
Data Processing & Outsourced Services |
|
|
|
|
| |
Visa, Inc., Class A |
|
5,280 |
|
409,464 |
| |
Data Processing & Outsourced Services |
|
|
|
|
| |
Alphabet, Inc., Class C (a) |
|
524 |
|
397,274 |
| |
Internet Software & Services |
|
|
|
|
| |
Microsoft Corp. |
|
6,650 |
|
368,942 |
| |
Systems Software |
|
|
|
|
| |
Automatic Data Processing, Inc. |
|
4,320 |
|
365,990 |
| |
Data Processing & Outsourced Services |
|
|
|
|
| |
Oracle Corp. |
|
9,445 |
|
345,026 |
| |
Systems Software |
|
|
|
|
| |
Alphabet, Inc., Class A (a) |
|
217 |
|
168,515 |
| |
Internet Software & Services |
|
|
|
|
| |
|
|
|
|
2,488,463 |
| |
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 5.4% |
|
|
|
|
| |
Intel Corp. |
|
11,580 |
|
398,931 |
| |
Semiconductors |
|
|
|
|
| |
Texas Instruments, Inc. |
|
6,365 |
|
348,866 |
| |
Semiconductors |
|
|
|
|
| |
Applied Materials, Inc. |
|
9,260 |
|
172,884 |
| |
Semiconductor Equipment |
|
|
|
|
| |
|
|
|
|
920,681 |
| |
TECHNOLOGY HARDWARE & EQUIPMENT 5.3% |
|
|
|
|
| |
Apple, Inc. |
|
3,307 |
|
348,095 |
| |
Technology Hardware, Storage & Peripherals |
|
|
|
|
| |
TE Connectivity, Ltd. |
|
5,036 |
|
325,353 |
| |
Electronic Manufacturing Services |
|
|
|
|
| |
QUALCOMM, Inc. |
|
4,845 |
|
242,177 |
| |
Communications Equipment |
|
|
|
|
| |
|
|
|
|
915,625 |
| |
|
|
|
|
4,324,769 |
| |
INDUSTRIALS 10.9% |
|
|
|
|
| |
CAPITAL GOODS 7.6% |
|
|
|
|
| |
General Electric Co. |
|
15,500 |
|
482,825 |
| |
Industrial Conglomerates |
|
|
|
|
| |
Caterpillar, Inc. |
|
4,400 |
|
299,024 |
| |
Construction Machinery & Heavy Trucks |
|
|
|
|
| |
Cummins, Inc. |
|
3,000 |
|
264,030 |
| |
Construction Machinery & Heavy Trucks |
|
|
|
|
| |
Parker-Hannifin Corp. |
|
2,539 |
|
246,257 |
| |
Industrial Machinery |
|
|
|
|
| |
|
|
|
|
1,292,136 |
| |
TRANSPORTATION 3.3% |
|
|
|
|
| |
FedEx Corp. |
|
2,200 |
|
327,778 |
| |
Air Freight & Logistics |
|
|
|
|
| |
Union Pacific Corp. |
|
2,950 |
|
230,690 |
| |
Railroads |
|
|
|
|
| |
|
|
|
|
558,468 |
| |
|
|
|
|
1,850,604 |
| |
CONSUMER DISCRETIONARY 9.8% |
|
|
|
|
| |
AUTOMOBILES & COMPONENTS 3.7% |
|
|
|
|
| |
General Motors Co. |
|
7,850 |
|
266,978 |
| |
Automobile Manufacturers |
|
|
|
|
| |
Fiat Chrysler Automobiles N.V. (a) |
|
16,000 |
|
223,840 |
| |
Automobile Manufacturers |
|
|
|
|
| |
Harley-Davidson, Inc. |
|
3,102 |
|
140,800 |
| |
Motorcycle Manufacturers |
|
|
|
|
| |
|
|
|
|
631,618 |
| |
MEDIA 2.5% |
|
|
|
|
| |
News Corp., Class A |
|
19,704 |
|
263,247 |
| |
Publishing |
|
|
|
|
| |
|
|
Shares |
|
Value |
| |
Common Stocks 95.0% (cont.) |
|
|
|
|
| |
Consumer Discretionary 9.8% (cont.) |
|
|
|
|
| |
Media 2.5% (cont.) |
|
|
|
|
| |
Comcast Corp., Class A |
|
2,944 |
|
$ |
166,141 |
|
Cable & Satellite |
|
|
|
|
| |
|
|
|
|
429,388 |
| |
RETAILING 1.9% |
|
|
|
|
| |
Liberty Interactive Corp. QVC Group, Class A (a) |
|
11,891 |
|
324,860 |
| |
Catalog Retail |
|
|
|
|
| |
CONSUMER DURABLES & APPAREL 1.7% |
|
|
|
|
| |
Whirlpool Corp. |
|
2,000 |
|
293,740 |
| |
Household Appliances |
|
|
|
|
| |
|
|
|
|
1,679,606 |
| |
ENERGY 5.9% |
|
|
|
|
| |
Apache Corp. |
|
8,274 |
|
367,940 |
| |
Oil & Gas Exploration & Production |
|
|
|
|
| |
Anadarko Petroleum Corp. |
|
4,900 |
|
238,042 |
| |
Oil & Gas Exploration & Production |
|
|
|
|
| |
Halliburton Co. |
|
6,801 |
|
231,506 |
| |
Oil & Gas Equipment & Services |
|
|
|
|
| |
National Oilwell Varco, Inc. |
|
3,580 |
|
119,894 |
| |
Oil & Gas Equipment & Services |
|
|
|
|
| |
Chesapeake Energy Corp. |
|
12,000 |
|
54,000 |
| |
Oil & Gas Exploration & Production |
|
|
|
|
| |
|
|
|
|
1,011,382 |
| |
CONSUMER STAPLES 5.8% |
|
|
|
|
| |
FOOD, BEVERAGE & TOBACCO 4.4% |
|
|
|
|
| |
Nestle SA (b) |
|
3,540 |
|
263,447 |
| |
Packaged Foods & Meats |
|
|
|
|
| |
Diageo PLC (b) |
|
2,250 |
|
245,407 |
| |
Distillers & Vintners |
|
|
|
|
| |
General Mills, Inc. |
|
4,066 |
|
234,447 |
| |
Packaged Foods & Meats |
|
|
|
|
| |
|
|
|
|
743,301 |
| |
HOUSEHOLD & PERSONAL PRODUCTS 1.4% |
|
|
|
|
| |
Unilever PLC (b) |
|
5,613 |
|
242,032 |
| |
Personal Products |
|
|
|
|
| |
|
|
|
|
985,333 |
| |
HEALTH CARE 5.1% |
|
|
|
|
| |
HEALTH CARE EQUIPMENT & SERVICES 3.7% |
|
|
|
|
| |
Medtronic PLC |
|
4,190 |
|
322,295 |
| |
Health Care Equipment |
|
|
|
|
| |
UnitedHealth Group, Inc. |
|
2,590 |
|
304,687 |
| |
Managed Health Care |
|
|
|
|
| |
|
|
|
|
626,982 |
| |
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES 1.4% |
|
|
|
|
| |
Sanofi (b) |
|
5,670 |
|
241,826 |
| |
Pharmaceuticals |
|
|
|
|
| |
|
|
|
|
868,808 |
| |
MATERIALS 1.7% |
|
|
|
|
| |
Monsanto Co. |
|
3,000 |
|
295,560 |
| |
Fertilizers & Agricultural Chemicals |
|
|
|
|
| |
TOTAL COMMON STOCKS 95.0% |
|
|
|
16,224,537 |
| |
|
|
Par Value |
|
Value |
| ||
SHORT TERM INVESTMENTS 5.0% |
|
|
|
|
| ||
REPURCHASE AGREEMENT 3.8% |
|
|
|
|
| ||
Fixed Income Clearing Corp. Repurchase Agreement, 0.08% dated 12/31/15 due 01/04/16, repurchase price $648,078, collateralized by United States Treasury Notes, 1.375% - 1.750%, due 07/31/20 - 12/31/20, aggregate value plus accrued interest of $661,037 (Cost: $648,073) |
|
$ |
648,073 |
|
648,073 |
| |
|
|
|
|
|
| ||
GOVERNMENT AND AGENCY SECURITIES 0.6% |
|
|
|
|
| ||
United States Treasury Note, 0.02%, due 01/31/16 (c) (Cost $100,161) |
|
100,000 |
|
100,161 |
| ||
|
|
|
|
|
| ||
U.S. GOVERNMENT BILLS 0.6% |
|
|
|
|
| ||
United States Treasury Bills, 0.26%, due 03/10/16 (c) (Cost $99,950) |
|
100,000 |
|
99,978 |
| ||
TOTAL SHORT TERM INVESTMENTS 5.0% |
|
|
|
848,212 |
| ||
TOTAL INVESTMENTS 100.0% |
|
|
|
17,072,749 |
| ||
Other Assets In Excess of Liabilities 0.0%(d) |
|
|
|
681 |
| ||
Foreign Currencies (Cost $0) 0.0% (d) |
|
|
|
0 |
(e) | ||
TOTAL NET ASSETS 100.0% |
|
|
|
$ |
17,073,430 |
| |
(a) Non-income producing security
(b) Sponsored American Depositary Receipt
(c) The rate shown represents the annualized yield at the time of purchase; not a coupon rate.
(d) Amount rounds to less than 0.1%.
(e) Amount rounds to less than $1,000.
Oakmark Select Fund |
December 31, 2015 (Unaudited) |
Schedule of Investments (in thousands) |
|
|
|
Shares |
|
Value |
| |
COMMON STOCKS 93.1% |
|
|
|
|
| |
FINANCIALS 38.1% |
|
|
|
|
| |
BANKS 17.8% |
|
|
|
|
| |
Bank of America Corp. |
|
20,979 |
|
$ |
353,070 |
|
Diversified Banks |
|
|
|
|
| |
JPMorgan Chase & Co. |
|
5,230 |
|
345,337 |
| |
Diversified Banks |
|
|
|
|
| |
Citigroup, Inc. |
|
6,577 |
|
340,360 |
| |
Diversified Banks |
|
|
|
|
| |
|
|
|
|
1,038,767 |
| |
INSURANCE 11.2% |
|
|
|
|
| |
American International Group, Inc. |
|
6,145 |
|
380,818 |
| |
Multi-line Insurance |
|
|
|
|
| |
FNF Group |
|
7,821 |
|
271,161 |
| |
Property & Casualty Insurance |
|
|
|
|
| |
|
|
|
|
651,979 |
| |
REAL ESTATE 5.3% |
|
|
|
|
| |
CBRE Group, Inc., Class A (a) |
|
8,964 |
|
309,975 |
| |
Real Estate Services |
|
|
|
|
| |
DIVERSIFIED FINANCIALS 3.8% |
|
|
|
|
| |
Capital One Financial Corp. |
|
3,050 |
|
220,149 |
| |
Consumer Finance |
|
|
|
|
| |
|
|
|
|
2,220,870 |
| |
INFORMATION TECHNOLOGY 27.0% |
|
|
|
|
| |
SOFTWARE & SERVICES 17.2% |
|
|
|
|
| |
Alphabet, Inc., Class C (a) |
|
616 |
|
467,205 |
| |
Internet Software & Services |
|
|
|
|
| |
MasterCard, Inc., Class A |
|
3,075 |
|
299,382 |
| |
Data Processing & Outsourced Services |
|
|
|
|
| |
Oracle Corp. |
|
6,540 |
|
238,906 |
| |
Systems Software |
|
|
|
|
| |
|
|
|
|
1,005,493 |
| |
TECHNOLOGY HARDWARE & EQUIPMENT 6.0% |
|
|
|
|
| |
TE Connectivity, Ltd. |
|
5,394 |
|
348,502 |
| |
Electronic Manufacturing Services |
|
|
|
|
| |
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 3.8% |
|
|
|
|
| |
Intel Corp. |
|
6,447 |
|
222,099 |
| |
Semiconductors |
|
|
|
|
| |
|
|
|
|
1,576,094 |
| |
INDUSTRIALS 7.8% |
|
|
|
|
| |
CAPITAL GOODS 7.8% |
|
|
|
|
| |
General Electric Co. |
|
14,500 |
|
451,675 |
| |
Industrial Conglomerates |
|
|
|
|
| |
CONSUMER DISCRETIONARY 7.3% |
|
|
|
|
| |
RETAILING 4.3% |
|
|
|
|
| |
Liberty Interactive Corp. QVC Group, Class A (a) |
|
9,214 |
|
251,723 |
| |
Catalog Retail |
|
|
|
|
| |
AUTOMOBILES & COMPONENTS 3.0% |
|
|
|
|
| |
Fiat Chrysler Automobiles N.V. (a) |
|
12,470 |
|
174,462 |
| |
Automobile Manufacturers |
|
|
|
|
| |
|
|
|
|
426,185 |
| |
ENERGY 6.3% |
|
|
|
|
| |
Apache Corp. |
|
5,310 |
|
|
236,136 |
|
Oil & Gas Exploration & Production |
|
|
|
|
| |
Chesapeake Energy Corp. (b) |
|
29,075 |
|
130,837 |
| |
Oil & Gas Exploration & Production |
|
|
|
|
| |
|
|
|
|
366,973 |
| |
MATERIALS 3.4% |
|
|
|
|
| |
Monsanto Co. |
|
2,000 |
|
197,040 |
| |
Fertilizers & Agricultural Chemicals |
|
|
|
|
| |
UTILITIES 3.2% |
|
|
|
|
| |
Calpine Corp. (a) |
|
13,004 |
|
188,174 |
| |
Independent Power Producers & Energy Traders |
|
|
|
|
| |
TOTAL COMMON STOCKS 93.1% |
|
|
|
5,427,011 |
| |
PREFERRED STOCKS 0.1% |
|
|
|
|
| |
ENERGY 0.1% |
|
|
|
|
| |
Chesapeake Energy Corp., 5.75% |
|
37 |
|
7,021 |
| |
Oil & Gas Exploration & Production |
|
|
|
|
| |
TOTAL PREFERRED STOCKS 0.1% |
|
|
|
7,021 |
|
|
|
Par Value |
|
Value |
| ||
FIXED INCOME 0.9% |
|
|
|
|
| ||
CONVERTIBLE BOND 0.9% |
|
|
|
|
| ||
Fiat Chrysler Automobiles N.V., 7.875%, due 12/15/16 (Cost $57,052) |
|
$ |
45,779 |
|
53,029 |
| |
TOTAL FIXED INCOME 0.9% |
|
|
|
53,029 |
| ||
|
|
|
|
|
| ||
SHORT TERM INVESTMENTS 5.8% |
|
|
|
|
| ||
|
|
|
|
|
| ||
REPURCHASE AGREEMENT 5.8% |
|
|
|
|
| ||
Fixed Income Clearing Corp. Repurchase Agreement, 0.08% dated 12/31/15 due 01/04/16, repurchase price $337,837, collateralized by United States Treasury Notes, 1.625% - 3.125%, due 10/31/16 - 07/31/20, aggregate value plus accrued interest of $344,594 (Cost: $337,834) |
|
337,834 |
|
337,834 |
| ||
TOTAL SHORT TERM INVESTMENTS 5.8% |
|
|
|
337,834 |
| ||
TOTAL INVESTMENTS 99.9% |
|
|
|
5,824,895 |
| ||
Other Assets In Excess of Liabilities 0.1% |
|
|
|
4,463 |
| ||
TOTAL NET ASSETS 100.0% |
|
|
|
$ |
5,829,358 |
| |
(a) |
Non-income producing security |
(b) |
A portion of the security out on loan. |
Oakmark Equity and Income Fund |
December 31, 2015 (Unaudited) |
Schedule of Investments (in thousands) |
|
|
|
Shares |
|
Value |
| |
COMMON STOCKS 61.3% |
|
|
|
|
| |
FINANCIALS 16.3% |
|
|
|
|
| |
BANKS 6.4% |
|
|
|
|
| |
Bank of America Corp. |
|
42,798 |
|
$ |
720,282 |
|
Diversified Banks |
|
|
|
|
| |
U.S. Bancorp |
|
5,169 |
|
220,574 |
| |
Diversified Banks |
|
|
|
|
| |
Wells Fargo & Co. |
|
3,299 |
|
179,344 |
| |
Diversified Banks |
|
|
|
|
| |
|
|
|
|
1,120,200 |
| |
DIVERSIFIED FINANCIALS 5.4% |
|
|
|
|
| |
TD Ameritrade Holding Corp. |
|
9,880 |
|
342,937 |
| |
Investment Banking & Brokerage |
|
|
|
|
| |
The Goldman Sachs Group, Inc. |
|
1,568 |
|
282,637 |
| |
Investment Banking & Brokerage |
|
|
|
|
| |
Bank of New York Mellon Corp. |
|
5,340 |
|
220,134 |
| |
Asset Management & Custody Banks |
|
|
|
|
| |
Ally Financial, Inc. (a) |
|
4,267 |
|
79,541 |
| |
Consumer Finance |
|
|
|
|
| |
T Rowe Price Group, Inc. |
|
474 |
|
33,881 |
| |
Asset Management & Custody Banks |
|
|
|
|
| |
|
|
|
|
959,130 |
| |
INSURANCE 4.0% |
|
|
|
|
| |
FNF Group |
|
8,081 |
|
280,182 |
| |
Property & Casualty Insurance |
|
|
|
|
| |
Principal Financial Group, Inc. |
|
5,061 |
|
227,657 |
| |
Life & Health Insurance |
|
|
|
|
| |
Reinsurance Group of America, Inc. |
|
2,402 |
|
205,500 |
| |
Reinsurance |
|
|
|
|
| |
|
|
|
|
713,339 |
| |
REAL ESTATE 0.5% |
|
|
|
|
| |
The Howard Hughes Corp. (a) |
|
479 |
|
54,209 |
| |
Real Estate Development |
|
|
|
|
| |
Gaming and Leisure Properties, Inc. |
|
982 |
|
27,286 |
| |
Specialized REITs |
|
|
|
|
| |
|
|
|
|
81,495 |
| |
|
|
|
|
2,874,164 |
| |
CONSUMER DISCRETIONARY 10.8% |
|
|
|
|
| |
AUTOMOBILES & COMPONENTS 6.9% |
|
|
|
|
| |
General Motors Co. |
|
21,666 |
|
736,874 |
| |
Automobile Manufacturers |
|
|
|
|
| |
BorgWarner, Inc. |
|
7,718 |
|
333,662 |
| |
Auto Parts & Equipment |
|
|
|
|
| |
Lear Corp. |
|
1,161 |
|
142,634 |
| |
Auto Parts & Equipment |
|
|
|
|
| |
|
|
|
|
1,213,170 |
| |
RETAILING 3.1% |
|
|
|
|
| |
Foot Locker, Inc. |
|
6,369 |
|
414,558 |
| |
Apparel Retail |
|
|
|
|
| |
HSN, Inc. |
|
2,491 |
|
126,231 |
| |
Catalog Retail |
|
|
|
|
| |
|
|
|
|
540,789 |
| |
CONSUMER DURABLES & APPAREL 0.8% |
|
|
|
|
| |
Kate Spade & Co. (a) |
|
4,691 |
|
|
83,364 |
|
Apparel, Accessories & Luxury Goods |
|
|
|
|
| |
Carters, Inc. |
|
664 |
|
59,143 |
| |
Apparel, Accessories & Luxury Goods |
|
|
|
|
| |
|
|
|
|
142,507 |
| |
|
|
|
|
1,896,466 |
| |
INDUSTRIALS 10.3% |
|
|
|
|
| |
CAPITAL GOODS 8.7% |
|
|
|
|
| |
Dover Corp. |
|
6,366 |
|
390,284 |
| |
Industrial Machinery |
|
|
|
|
| |
Flowserve Corp. (b) |
|
7,338 |
|
308,775 |
| |
Industrial Machinery |
|
|
|
|
| |
Rockwell Automation, Inc. |
|
2,145 |
|
220,099 |
| |
Electrical Components & Equipment |
|
|
|
|
| |
Parker-Hannifin Corp. |
|
1,638 |
|
158,849 |
| |
Industrial Machinery |
|
|
|
|
| |
Precision Castparts Corp. |
|
612 |
|
141,897 |
| |
Aerospace & Defense |
|
|
|
|
| |
General Electric Co. |
|
3,834 |
|
119,432 |
| |
Industrial Conglomerates |
|
|
|
|
| |
The Manitowoc Co., Inc. |
|
6,243 |
|
95,827 |
| |
Construction Machinery & Heavy Trucks |
|
|
|
|
| |
WESCO International, Inc. (a) |
|
1,118 |
|
48,817 |
| |
Trading Companies & Distributors |
|
|
|
|
| |
Oshkosh Corp. |
|
912 |
|
35,589 |
| |
Construction Machinery & Heavy Trucks |
|
|
|
|
| |
Blount International, Inc. (a) |
|
1,913 |
|
18,771 |
| |
Industrial Machinery |
|
|
|
|
| |
|
|
|
|
1,538,340 |
| |
TRANSPORTATION 1.4% |
|
|
|
|
| |
Union Pacific Corp. |
|
3,086 |
|
241,341 |
| |
Railroads |
|
|
|
|
| |
|
|
|
|
|
| |
COMMERCIAL & PROFESSIONAL SERVICES 0.2% |
|
|
|
|
| |
Herman Miller, Inc. |
|
1,350 |
|
38,742 |
| |
Office Services & Supplies |
|
|
|
|
| |
|
|
|
|
1,818,423 |
| |
CONSUMER STAPLES 9.5% |
|
|
|
|
| |
FOOD, BEVERAGE & TOBACCO 6.8% |
|
|
|
|
| |
Nestle SA (c) |
|
7,993 |
|
594,839 |
| |
Packaged Foods & Meats |
|
|
|
|
| |
Philip Morris International, Inc. |
|
3,806 |
|
334,612 |
| |
Tobacco |
|
|
|
|
| |
Diageo PLC (c) |
|
2,441 |
|
266,288 |
| |
Distillers & Vintners |
|
|
|
|
| |
|
|
|
|
1,195,739 |
| |
FOOD & STAPLES RETAILING 2.7% |
|
|
|
|
| |
CVS Health Corp. |
|
4,993 |
|
488,122 |
| |
Drug Retail |
|
|
|
|
| |
|
|
|
|
1,683,861 |
|
|
|
Shares |
|
Value |
| |
Common Stocks 61.3% (cont.) |
|
|
|
|
| |
|
|
|
|
|
| |
INFORMATION TECHNOLOGY 9.1% |
|
|
|
|
| |
SOFTWARE & SERVICES 6.1% |
|
|
|
|
| |
Oracle Corp. |
|
17,795 |
|
$ |
650,052 |
|
Systems Software |
|
|
|
|
| |
MasterCard, Inc., Class A |
|
3,703 |
|
360,483 |
| |
Data Processing & Outsourced Services |
|
|
|
|
| |
Broadridge Financial Solutions, Inc. |
|
1,261 |
|
67,750 |
| |
Data Processing & Outsourced Services |
|
|
|
|
| |
|
|
|
|
1,078,285 |
| |
TECHNOLOGY HARDWARE & EQUIPMENT 3.0% |
|
|
|
|
| |
TE Connectivity, Ltd. |
|
7,641 |
|
493,685 |
| |
Electronic Manufacturing Services |
|
|
|
|
| |
Knowles Corp. (a) |
|
1,857 |
|
24,751 |
| |
Electronic Components |
|
|
|
|
| |
|
|
|
|
518,436 |
| |
|
|
|
|
1,596,721 |
| |
ENERGY 2.7% |
|
|
|
|
| |
Baker Hughes, Inc. |
|
6,736 |
|
310,844 |
| |
Oil & Gas Equipment & Services |
|
|
|
|
| |
Oceaneering International, Inc. |
|
2,312 |
|
86,735 |
| |
Oil & Gas Equipment & Services |
|
|
|
|
| |
National Oilwell Varco, Inc. |
|
1,700 |
|
56,920 |
| |
Oil & Gas Equipment & Services |
|
|
|
|
| |
Rowan Cos. PLC |
|
1,491 |
|
25,279 |
| |
Oil & Gas Drilling |
|
|
|
|
| |
|
|
|
|
479,778 |
| |
HEALTH CARE 2.2% |
|
|
|
|
| |
HEALTH CARE EQUIPMENT & SERVICES 1.6% |
|
|
|
|
| |
UnitedHealth Group, Inc. |
|
2,445 |
|
287,634 |
| |
Managed Health Care |
|
|
|
|
| |
|
|
|
|
|
| |
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES 0.6% |
|
|
|
|
| |
Bruker Corp. (a) |
|
4,077 |
|
98,941 |
| |
Life Sciences Tools & Services |
|
|
|
|
| |
|
|
|
|
386,575 |
| |
MATERIALS 0.4% |
|
|
|
|
| |
Glencore PLC |
|
55,555 |
|
74,103 |
| |
Diversified Metals & Mining |
|
|
|
|
| |
Southern Copper Corp. |
|
98 |
|
2,562 |
| |
Diversified Metals & Mining |
|
|
|
|
| |
|
|
|
|
76,665 |
| |
TOTAL COMMON STOCKS 61.3% |
|
|
|
10,812,653 |
| |
|
|
Par Value |
|
Value |
| ||
FIXED INCOME 18.2% |
|
|
|
|
| ||
|
|
|
|
|
| ||
CORPORATE BONDS 9.2% |
|
|
|
|
| ||
Kinetic Concepts, Inc., 10.50%, due 11/01/18 |
|
$ |
47,940 |
|
46,742 |
| |
JPMorgan Chase & Co., 3.15%, due 07/05/16 |
|
44,592 |
|
45,053 |
| ||
Mondelez International, Inc., 4.125%, due 02/09/16 |
|
|
43,567 |
|
|
43,679 |
|
General Motors Co., 4.875%, due 10/02/23 |
|
41,400 |
|
42,338 |
| ||
Omega Healthcare Investors, Inc., 5.875%, due 03/15/24 |
|
39,292 |
|
40,667 |
| ||
Zimmer Biomet Holdings, Inc., 1.45%, due 04/01/17 |
|
37,671 |
|
37,488 |
| ||
The Manitowoc Co., Inc., 8.50%, due 11/01/20 |
|
35,655 |
|
36,903 |
| ||
The William Carter Co., 5.25%, due 08/15/21 |
|
35,137 |
|
36,103 |
| ||
Credit Suisse Group AG, 144A, 7.50% (d) (e) (f) |
|
30,000 |
|
31,495 |
| ||
Bank of America Corp., 5.625%, due 10/14/16 |
|
29,855 |
|
30,800 |
| ||
Omnicom Group, Inc., 3.625%, due 05/01/22 |
|
30,425 |
|
30,712 |
| ||
CVS Health Corp., 4.00%, due 12/05/23 |
|
29,325 |
|
30,475 |
| ||
1011778 BC ULC / New Red Finance, Inc., 144A, 6.00%, due 04/01/22 (d) |
|
29,500 |
|
30,385 |
| ||
Live Nation Entertainment, Inc., 144A, 7.00%, due 09/01/20 (d) |
|
28,930 |
|
29,943 |
| ||
General Motors Co., 3.50%, due 10/02/18 |
|
29,525 |
|
29,821 |
| ||
Toyota Motor Credit Corp., 1.45%, due 01/12/18 |
|
29,495 |
|
29,439 |
| ||
Activision Blizzard, Inc., 144A, 5.625%, due 09/15/21 (d) |
|
26,745 |
|
28,015 |
| ||
Credit Suisse Group Funding Guernsey, Ltd., 144A, 3.125%, due 12/10/20 (d) |
|
25,000 |
|
24,886 |
| ||
Credit Suisse New York, 1.75%, due 01/29/18 |
|
24,700 |
|
24,631 |
| ||
Penn National Gaming, Inc., 5.875%, due 11/01/21 |
|
23,704 |
|
22,993 |
| ||
Whirlpool Corp., 7.75%, due 07/15/16 |
|
22,256 |
|
22,947 |
| ||
Expedia, Inc., 144A, 5.00%, due 02/15/26 (d) |
|
23,445 |
|
22,881 |
| ||
E*TRADE Financial Corp., 5.375%, due 11/15/22 |
|
20,605 |
|
21,584 |
| ||
Thermo Fisher Scientific, Inc., 2.25%, due 08/15/16 |
|
21,438 |
|
21,555 |
| ||
Delphi Corp., 5.00%, due 02/15/23 |
|
20,277 |
|
21,453 |
| ||
Anadarko Petroleum Corp., 5.95%, due 09/15/16 |
|
20,821 |
|
21,395 |
| ||
Bank of America Corp., 3.75%, due 07/12/16 |
|
20,295 |
|
20,549 |
| ||
JPMorgan Chase Bank NA, 0.902%, due 06/14/17 (e) |
|
19,750 |
|
19,672 |
| ||
CBRE Services, Inc., 4.875%, due 03/01/26 |
|
19,665 |
|
19,589 |
| ||
JPMorgan Chase & Co., 1.70%, due 03/01/18 |
|
19,665 |
|
19,570 |
| ||
Centene Corp., 4.75%, due 05/15/22 |
|
20,084 |
|
19,431 |
| ||
|
|
Par Value |
|
Value |
| ||
Fixed Income 18.2% (cont.) |
|
|
|
|
| ||
|
|
|
|
|
| ||
Corporate Bonds 9.2% (cont.) |
|
|
|
|
| ||
Lam Research Corp., 2.75%, due 03/15/20 |
|
$ |
19,660 |
|
$ |
19,013 |
|
DIRECTV Holdings LLC / DIRECTV Financing Co., Inc., 5.00%, due 03/01/21 |
|
16,710 |
|
18,020 |
| ||
Dollar General Corp., 4.125%, due 07/15/17 |
|
17,095 |
|
17,555 |
| ||
McGraw Hill Financial, Inc., 4.00%, due 06/15/25 |
|
17,150 |
|
17,192 |
| ||
Aon Corp., 5.00%, due 09/30/20 |
|
14,745 |
|
16,115 |
| ||
Anthem, Inc., 5.875%, due 06/15/17 |
|
15,150 |
|
16,014 |
| ||
CBRE Services, Inc., 5.25%, due 03/15/25 |
|
14,975 |
|
15,169 |
| ||
Valeant Pharmaceuticals International, Inc., 144A, 5.625%, due 12/01/21 (d) |
|
16,370 |
|
15,060 |
| ||
CBRE Services, Inc., 5.00%, due 03/15/23 |
|
14,639 |
|
14,713 |
| ||
Pentair Finance SA, 2.90%, due 09/15/18 |
|
14,750 |
|
14,684 |
| ||
Schlumberger Holdings Corp., 144A, 2.35%, due 12/21/18 (d) |
|
14,740 |
|
14,644 |
| ||
Activision Blizzard, Inc., 144A, 6.125%, due 09/15/23 (d) |
|
13,615 |
|
14,432 |
| ||
Mead Johnson Nutrition Co., 4.125%, due 11/15/25 |
|
13,955 |
|
14,060 |
| ||
Scientific Games International, Inc., 10.00%, due 12/01/22 |
|
19,665 |
|
13,962 |
| ||
Zayo Group LLC / Zayo Capital, Inc., 6.00%, due 04/01/23 |
|
14,745 |
|
13,934 |
| ||
Anthem, Inc., 2.375%, due 02/15/17 |
|
13,725 |
|
13,847 |
| ||
International Game Technology PLC, 144A, 6.25%, due 02/15/22 (d) |
|
14,800 |
|
13,838 |
| ||
Medtronic, Inc., 3.15%, due 03/15/22 |
|
13,228 |
|
13,372 |
| ||
Royal Caribbean Cruises, Ltd., 7.25%, due 06/15/16 |
|
13,053 |
|
13,325 |
| ||
Kinetic Concepts, Inc., 12.50%, due 11/01/19 |
|
14,360 |
|
13,068 |
| ||
International Game Technology PLC, 144A, 6.50%, due 02/15/25 (d) |
|
14,800 |
|
12,987 |
| ||
GLP Capital, LP / GLP Financing II, Inc., 5.375%, due 11/01/23 |
|
12,000 |
|
11,700 |
| ||
BorgWarner, Inc., 4.625%, due 09/15/20 |
|
10,810 |
|
11,571 |
| ||
Howard Hughes Corp., 144A, 6.875%, due 10/01/21 (d) |
|
10,000 |
|
10,200 |
| ||
Valeant Pharmaceuticals International, Inc., 144A, 6.375%, due 10/15/20 (d) |
|
10,540 |
|
10,171 |
| ||
Six Flags Entertainment Corp., 144A, 5.25%, due 01/15/21 (d) |
|
|
9,970 |
|
|
10,095 |
|
Omega Healthcare Investors, Inc., 144A, 5.25%, due 01/15/26 (d) |
|
9,835 |
|
10,039 |
| ||
CNO Financial Group, Inc., 4.50%, due 05/30/20 |
|
9,830 |
|
10,027 |
| ||
Kellogg Co., 4.45%, due 05/30/16 |
|
9,835 |
|
9,964 |
| ||
GLP Capital, LP / GLP Financing II, Inc., 4.875%, due 11/01/20 |
|
10,000 |
|
9,800 |
| ||
Chevron Corp., 1.365%, due 03/02/18 |
|
9,835 |
|
9,756 |
| ||
Schlumberger Holdings Corp., 144A, 4.00%, due 12/21/25 (d) |
|
9,830 |
|
9,700 |
| ||
International Game Technology PLC, 144A, 5.625%, due 02/15/20 (d) |
|
9,800 |
|
9,653 |
| ||
Boston Scientific Corp., 5.125%, due 01/12/17 |
|
9,237 |
|
9,532 |
| ||
Sirius XM Radio, Inc., 144A, 5.25%, due 08/15/22 (d) |
|
8,895 |
|
9,384 |
| ||
Tempur Sealy International, Inc., 6.875%, due 12/15/20 |
|
8,819 |
|
9,238 |
| ||
Ultra Petroleum Corp., 144A, 5.75%, due 12/15/18 (d) |
|
37,809 |
|
9,074 |
| ||
Health Net, Inc., 6.375%, due 06/01/17 |
|
8,680 |
|
9,027 |
| ||
E*TRADE Financial Corp., 4.625%, due 09/15/23 |
|
7,865 |
|
7,993 |
| ||
Glencore Funding LLC, 144A, 1.70%, due 05/27/16 (d) |
|
8,060 |
|
7,979 |
| ||
CVS Health Corp, 144A, 5.00%, due 12/01/24 (d) |
|
6,880 |
|
7,443 |
| ||
CVS Health Corp, 144A, 4.75%, due 12/01/22 (d) |
|
6,880 |
|
7,372 |
| ||
Credit Suisse Group AG, 144A, 6.25% (d) (e) (f) |
|
7,000 |
|
6,995 |
| ||
Omnicom Group, Inc., 5.90%, due 04/15/16 |
|
6,862 |
|
6,950 |
| ||
Stanley Black & Decker, Inc., 2.451%, due 11/17/18 |
|
6,875 |
|
6,902 |
| ||
Mead Johnson Nutrition Co., 3.00%, due 11/15/20 |
|
6,885 |
|
6,883 |
| ||
Level 3 Financing, Inc., 144A, 5.375%, due 05/01/25 (d) |
|
6,895 |
|
6,861 |
| ||
Level 3 Financing, Inc., 144A, 5.125%, due 05/01/23 (d) |
|
6,895 |
|
6,843 |
| ||
Whirlpool Corp., 6.50%, due 06/15/16 |
|
6,610 |
|
6,752 |
| ||
Scientific Games International, Inc., 144A, 7.00%, due 01/01/22 (d) |
|
6,885 |
|
6,575 |
| ||
Zayo Group LLC / Zayo Capital, Inc., 10.125%, due 07/01/20 |
|
5,995 |
|
6,460 |
| ||
Concho Resources, Inc., 5.50%, due 10/01/22 |
|
6,980 |
|
6,352 |
| ||
Reynolds American, Inc., 6.75%, due 06/15/17 |
|
5,900 |
|
6,298 |
|
|
|
Par Value |
|
Value |
| ||
Fixed Income 18.2% (cont.) |
|
|
|
|
| ||
|
|
|
|
|
| ||
Corporate Bonds 9.2% (cont.) |
|
|
|
|
| ||
CNO Financial Group, Inc., 5.25%, due 05/30/25 |
|
$ |
5,895 |
|
$ |
5,998 |
|
Yum! Brands, Inc., 3.875%, due 11/01/23 |
|
6,329 |
|
5,605 |
| ||
Quest Diagnostics, Inc., 4.70%, due 04/01/21 |
|
5,128 |
|
5,430 |
| ||
Glencore Finance Canada, Ltd., 144A, 3.60%, due 01/15/17 (d) |
|
5,590 |
|
5,400 |
| ||
Serta Simmons Bedding LLC, 144A, 8.125%, due 10/01/20 (d) |
|
4,990 |
|
5,215 |
| ||
Foot Locker, Inc., 8.50%, due 01/15/22 |
|
4,340 |
|
5,208 |
| ||
The Sun Products Corp., 144A, 7.75%, due 03/15/21 (d) |
|
5,895 |
|
5,114 |
| ||
USG Corp., 6.30%, due 11/15/16 |
|
4,896 |
|
5,058 |
| ||
Penske Truck Leasing Co., LP / PTL Finance Corp., 144A, 3.75%, due 05/11/17 (d) |
|
4,920 |
|
5,019 |
| ||
Capital One NA, 2.35%, due 08/17/18 |
|
5,000 |
|
5,009 |
| ||
The Goldman Sachs Group, Inc., 1.048%, due 05/22/17 (e) |
|
5,000 |
|
4,993 |
| ||
GLP Capital, LP / GLP Financing II, Inc., 4.375%, due 11/01/18 |
|
5,000 |
|
4,950 |
| ||
General Motors Financial Co., Inc., 3.10%, due 01/15/19 |
|
4,915 |
|
4,908 |
| ||
American Express Credit Corp., 1.875%, due 11/05/18 |
|
4,915 |
|
4,902 |
| ||
Schlumberger Holdings Corp., 144A, 1.90%, due 12/21/17 (d) |
|
4,915 |
|
4,897 |
| ||
Ultra Petroleum Corp., 144A, 6.125%, due 10/01/24 (d) |
|
19,665 |
|
4,474 |
| ||
Scripps Networks Interactive, Inc., 2.80%, due 06/15/20 |
|
3,930 |
|
3,834 |
| ||
Valeant Pharmaceuticals International, Inc., 144A, 6.75%, due 08/15/18 (d) |
|
3,855 |
|
3,820 |
| ||
Omnicom Group, Inc., 6.25%, due 07/15/19 |
|
2,950 |
|
3,299 |
| ||
Dollar Tree, Inc., 144A, 5.75%, due 03/01/23 (d) |
|
2,950 |
|
3,053 |
| ||
MSCI, Inc., 144A, 5.75%, due 08/15/25 (d) |
|
2,950 |
|
3,024 |
| ||
American Express Credit Corp., 2.60%, due 09/14/20 |
|
2,945 |
|
2,952 |
| ||
Medtronic, Inc., 1.50%, due 03/15/18 |
|
2,950 |
|
2,948 |
| ||
CVS Health Corp., 2.25%, due 08/12/19 |
|
2,884 |
|
2,880 |
| ||
The Goldman Sachs Group, Inc., 5.625%, due 01/15/17 |
|
2,095 |
|
2,176 |
| ||
McGraw Hill Financial, Inc., 4.40%, due 02/15/26 |
|
1,970 |
|
2,016 |
| ||
Ecolab, Inc., 3.00%, due 12/08/16 |
|
1,970 |
|
1,998 |
| ||
McGraw Hill Financial, Inc., 3.30%, due 08/14/20 |
|
|
1,970 |
|
|
1,987 |
|
McGraw Hill Financial, Inc., 2.50%, due 08/15/18 |
|
1,970 |
|
1,982 |
| ||
Live Nation Entertainment, Inc., 144A, 5.375%, due 06/15/22 (d) |
|
2,000 |
|
1,970 |
| ||
Valeant Pharmaceuticals International, Inc., 144A, 6.75%, due 08/15/21 (d) |
|
1,960 |
|
1,891 |
| ||
Tyco Electronics Group SA, 6.55%, due 10/01/17 |
|
1,385 |
|
1,493 |
| ||
Post Holdings, Inc., 7.375%, due 02/15/22 |
|
1,000 |
|
1,043 |
| ||
Dollar Tree, Inc., 144A, 5.25%, due 03/01/20 (d) |
|
1,000 |
|
1,033 |
| ||
Post Holdings, Inc., 144A, 6.75%, due 12/01/21 (d) |
|
1,000 |
|
1,020 |
| ||
Level 3 Financing, Inc., 144A, 5.375%, due 01/15/24 (d) |
|
1,000 |
|
1,005 |
| ||
Tribune Media Co., 144A, 5.875%, due 07/15/22 (d) |
|
1,000 |
|
1,000 |
| ||
The Goldman Sachs Group, Inc., 2.55%, due 10/23/19 |
|
980 |
|
980 |
| ||
Ventas Realty, LP REIT, 3.50%, due 02/01/25 |
|
1,000 |
|
958 |
| ||
Post Holdings, Inc., 144A, 7.75%, due 03/15/24 (d) |
|
500 |
|
524 |
| ||
Valeant Pharmaceuticals International, Inc., 144A, 5.875%, due 05/15/23 (d) |
|
500 |
|
446 |
| ||
Valeant Pharmaceuticals International, Inc., 144A, 6.125%, due 04/15/25 (d) |
|
250 |
|
223 |
| ||
Total Corporate Bonds |
|
|
|
1,623,522 |
| ||
|
|
|
|
|
| ||
GOVERNMENT AND AGENCY SECURITIES 8.9% |
|
|
|
|
| ||
U.S. GOVERNMENT NOTES 8.7% |
|
|
|
|
| ||
1.375%, due 07/15/18, Inflation Indexed |
|
468,366 |
|
484,899 |
| ||
1.25%, due 07/15/20, Inflation Indexed |
|
457,835 |
|
476,107 |
| ||
2.125%, due 01/15/19, Inflation Indexed |
|
220,871 |
|
233,721 |
| ||
1.00%, due 09/30/16 |
|
199,380 |
|
199,777 |
| ||
1.25%, due 11/30/18 |
|
73,725 |
|
73,601 |
| ||
2.125%, due 01/31/21 |
|
24,570 |
|
24,933 |
| ||
1.75%, due 10/31/20 |
|
24,570 |
|
24,532 |
| ||
0.75%, due 06/30/17 |
|
24,585 |
|
24,508 |
| ||
|
|
|
|
1,542,078 |
| ||
U.S. GOVERNMENT AGENCIES 0.2% |
|
|
|
|
| ||
Federal National Mortgage Association, 1.25%, due 09/27/18 |
|
24,680 |
|
24,557 |
|
|
|
Par Value |
|
Value |
| ||
Fixed Income 18.2% (cont.) |
|
|
|
|
| ||
|
|
|
|
|
| ||
Government and Agency Securities 8.9% (cont.) |
|
|
|
|
| ||
U.S. Government Agencies 0.2% (cont.) |
|
|
|
|
| ||
Federal National Mortgage Association, 1.25%, due 01/30/20 |
|
$ |
9,525 |
|
$ |
9,481 |
|
|
|
|
|
34,038 |
| ||
Total Government and Agency Securities |
|
|
|
1,576,116 |
| ||
|
|
|
|
|
| ||
ASSET BACKED SECURITIES 0.1% |
|
|
|
|
| ||
Cabelas Master Credit Card Trust, 144A, 0.881%, due 10/15/19 (d) (e) |
|
11,450 |
|
11,457 |
| ||
TOTAL FIXED INCOME 18.2% |
|
|
|
3,211,095 |
| ||
|
|
|
|
|
| ||
SHORT TERM INVESTMENTS 20.2% |
|
|
|
|
| ||
|
|
|
|
|
| ||
COMMERCIAL PAPER 14.7% |
|
|
|
|
| ||
Toyota Motor Credit Corp., 0.20% - 0.55%, due 01/07/16 - 03/08/16 (g) |
|
950,000 |
|
949,653 |
| ||
MetLife Short Term Funding LLC, 144A, 0.15% - 0.41%, due 01/05/16 - 02/10/16 (d) (g) |
|
378,000 |
|
377,950 |
| ||
BMW US Capital LLC, 144A, 0.19% - 0.26%, due 01/04/16 - 02/04/16 (d) (g) |
|
345,000 |
|
344,953 |
| ||
Kellogg Co., 144A, 0.39% - 0.66%, due 01/04/16 - 01/29/16 (d) (g) |
|
187,570 |
|
187,545 |
| ||
American Honda Finance Corp., 0.20% - 0.33%, due 01/22/16 - 02/05/16 (g) |
|
170,570 |
|
170,537 |
| ||
Chevron Corp., 144A, 0.21% - 0.39%, due 01/19/16 - 02/03/16 (d) (g) |
|
150,000 |
|
149,966 |
| ||
Anthem, Inc., 144A, 0.53% - 0.69%, due 01/04/16 - 02/26/16 (d) (g) |
|
122,500 |
|
122,448 |
| ||
John Deere Capital Co., 144A, 0.30% - 0.31%, due 01/19/16 - 01/21/16 (d) (g) |
|
100,000 |
|
99,985 |
| ||
Wal-Mart Stores, Inc., 144A, 0.23%, due 01/25/16 - 01/27/16 (d) (g) |
|
100,000 |
|
99,984 |
| ||
J.P. Morgan Securities LLC, 144A, 0.51% - 0.53%, due 05/02/16 - 05/04/16 (d) (g) |
|
100,000 |
|
99,821 |
| ||
Total Commercial Paper |
|
|
|
2,602,842 |
| ||
|
|
|
|
|
| ||
REPURCHASE AGREEMENT 2.3% |
|
|
|
|
| ||
Fixed Income Clearing Corp. Repurchase Agreement, 0.08% dated 12/31/15 due 01/04/16, repurchase price $401,797, collateralized by a United States Treasury Note, 1.750%, due 12/31/20, value plus accrued interest of $409,832 (Cost: $401,794) |
|
|
401,794 |
|
|
401,794 |
|
|
|
|
|
|
| ||
CORPORATE BONDS 1.8% |
|
|
|
|
| ||
ConAgra Foods, Inc., 1.30%, due 01/25/16 |
|
49,951 |
|
49,965 |
| ||
Bank of America Corp., 6.50%, due 08/01/16 |
|
44,888 |
|
46,197 |
| ||
Citigroup, Inc., 1.30%, due 04/01/16 |
|
35,713 |
|
35,763 |
| ||
The Goldman Sachs Group, Inc., 5.35%, due 01/15/16 |
|
33,875 |
|
33,933 |
| ||
Yum! Brands, Inc., 6.25%, due 04/15/16 |
|
29,125 |
|
29,490 |
| ||
Mohawk Industries, Inc., 6.125%, due 01/15/16 |
|
22,336 |
|
22,379 |
| ||
Aon Corp., 3.125%, due 05/27/16 |
|
19,920 |
|
20,074 |
| ||
Willis Group Holdings PLC, 4.125%, due 03/15/16 |
|
17,433 |
|
17,527 |
| ||
Capital One Financial Corp., 6.15%, due 09/01/16 |
|
12,919 |
|
13,312 |
| ||
Comerica Bank, 5.75%, due 11/21/16 |
|
12,750 |
|
13,207 |
| ||
Morgan Stanley, 1.75%, due 02/25/16 |
|
9,830 |
|
9,840 |
| ||
Bank of America Corp., 6.05%, due 05/16/16 |
|
7,890 |
|
8,020 |
| ||
Capital One Financial Corp., 3.15%, due 07/15/16 |
|
3,513 |
|
3,545 |
| ||
JPMorgan Chase & Co., 3.45%, due 03/01/16 |
|
3,440 |
|
3,454 |
| ||
The Bank of New York Mellon Corp., 2.30%, due 07/28/16 |
|
2,945 |
|
2,970 |
| ||
Schlumberger Investment SA, 144A, 1.95%, due 09/14/16 (d) |
|
1,970 |
|
1,980 |
| ||
Philip Morris International, Inc., 2.50%, due 05/16/16 |
|
1,350 |
|
1,358 |
| ||
Express Scripts Holding Co., 3.125%, due 05/15/16 |
|
1,320 |
|
1,329 |
| ||
Total Corporate Bonds |
|
|
|
314,343 |
| ||
|
|
|
|
|
| ||
U.S. GOVERNMENT BILLS 1.4% |
|
|
|
|
| ||
United States Treasury Bills, 0.22% - 0.26%, due 03/10/16 - 04/21/16 (g) |
|
245,710 |
|
245,607 |
| ||
TOTAL SHORT TERM INVESTMENTS 20.2% |
|
|
|
3,564,586 |
|
TOTAL INVESTMENTS 99.7% |
|
|
|
17,588,334 |
| |
Other Assets In Excess of Liabilities 0.3% |
|
|
|
47,740 |
| |
Foreign Currencies (Cost $0) 0.0% (h) |
|
|
|
0 |
(i) | |
NET ASSETS 100.0% |
|
|
|
$ |
17,636,074 |
|
(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) |
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. |
(e) |
Floating Rate Note. Rate shown is as of December 31, 2015. |
(f) |
Security is perpetual and has no stated maturity date. |
(g) |
The rate shown represents the annualized yield at the time of purchase; not a coupon rate. |
(h) |
Amount rounds to less than 0.1%. |
(i) |
Amount rounds to less than $1,000. |
Abbreviations: | |
REIT: Real Estate Investment Trust |
OAKMARK GLOBAL FUND
Global Diversification December 31, 2015 (Unaudited)
|
|
|
|
% of Equity Investments |
|
North America 41.3% |
|
|
|
|
|
|
|
United States |
|
41.3 |
% |
Europe 39.9% |
|
|
|
|
|
|
|
Switzerland |
|
19.4 |
% |
|
* |
Germany |
|
8.5 |
% |
|
|
United Kingdom |
|
6.4 |
% |
|
* |
France |
|
3.5 |
% |
|
* |
Netherlands |
|
2.1 |
% |
Asia 14.7% |
|
|
|
|
|
|
|
Japan |
|
10.6 |
% |
|
|
South Korea |
|
2.6 |
% |
|
|
China |
|
1.5 |
% |
Australasia 3.5% |
|
|
|
|
|
|
|
Australia |
|
3.5 |
% |
Latin America 0.6% |
|
|
|
|
|
|
|
Mexico |
|
0.6 |
% |
* Euro currency countries comprise 14.1% of equity investments.
Oakmark Global Fund |
December 31, 2015 (Unaudited) |
Schedule of Investments (in thousands) |
|
|
|
Shares |
|
Value |
| |
COMMON STOCKS 98.8% |
|
|
|
|
| |
FINANCIALS 26.4% |
|
|
|
|
| |
DIVERSIFIED FINANCIALS 12.1% |
|
|
|
|
| |
Credit Suisse Group AG (Switzerland) |
|
7,650 |
|
$ |
165,664 |
|
Diversified Capital Markets |
|
|
|
|
| |
Julius Baer Group, Ltd. (Switzerland) |
|
2,523 |
|
122,583 |
| |
Asset Management & Custody Banks |
|
|
|
|
| |
Daiwa Securities Group, Inc. (Japan) |
|
13,334 |
|
82,626 |
| |
Investment Banking & Brokerage |
|
|
|
|
| |
|
|
|
|
370,873 |
| |
BANKS 10.9% |
|
|
|
|
| |
Bank of America Corp. (United States) |
|
7,243 |
|
121,900 |
| |
Diversified Banks |
|
|
|
|
| |
Citigroup, Inc. (United States) |
|
2,057 |
|
106,434 |
| |
Diversified Banks |
|
|
|
|
| |
BNP Paribas SA (France) |
|
1,850 |
|
105,030 |
| |
Diversified Banks |
|
|
|
|
| |
|
|
|
|
333,364 |
| |
INSURANCE 3.4% |
|
|
|
|
| |
Allianz SE (Germany) |
|
578 |
|
102,786 |
| |
Multi-line Insurance |
|
|
|
|
| |
|
|
|
|
807,023 |
| |
INFORMATION TECHNOLOGY 26.4% |
|
|
|
|
| |
SOFTWARE & SERVICES 12.5% |
|
|
|
|
| |
Alphabet, Inc., Class C (United States) (a) |
|
180 |
|
136,677 |
| |
Internet Software & Services |
|
|
|
|
| |
MasterCard, Inc., Class A (United States) |
|
1,116 |
|
108,654 |
| |
Data Processing & Outsourced Services |
|
|
|
|
| |
Oracle Corp. (United States) |
|
2,445 |
|
89,323 |
| |
Systems Software |
|
|
|
|
| |
Baidu, Inc. (China) (a) (b) |
|
241 |
|
45,615 |
| |
Internet Software & Services |
|
|
|
|
| |
|
|
|
|
380,269 |
| |
TECHNOLOGY HARDWARE & EQUIPMENT 11.8% |
|
|
|
|
| |
TE Connectivity, Ltd. (Switzerland) |
|
1,901 |
|
122,804 |
| |
Electronic Manufacturing Services |
|
|
|
|
| |
Samsung Electronics Co., Ltd. (South Korea) |
|
73 |
|
78,611 |
| |
Technology Hardware, Storage & Peripherals |
|
|
|
|
| |
OMRON Corp. (Japan) |
|
2,081 |
|
70,376 |
| |
Electronic Components |
|
|
|
|
| |
Hirose Electric Co., Ltd. (Japan) |
|
478 |
|
58,662 |
| |
Electronic Components |
|
|
|
|
| |
Itron, Inc. (United States) (a) |
|
829 |
|
30,008 |
| |
Electronic Equipment & Instruments |
|
|
|
|
| |
|
|
|
|
360,461 |
| |
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 2.1% |
|
|
|
|
| |
Intel Corp. (United States) |
|
1,860 |
|
64,091 |
| |
Semiconductors |
|
|
|
|
| |
|
|
|
|
804,821 |
| |
CONSUMER DISCRETIONARY 18.9% |
|
|
|
|
| |
AUTOMOBILES & COMPONENTS 11.1% |
|
|
|
|
| |
General Motors Co. (United States) |
|
3,529 |
|
|
120,007 |
|
Automobile Manufacturers |
|
|
|
|
| |
Daimler AG (Germany) |
|
1,323 |
|
111,517 |
| |
Automobile Manufacturers |
|
|
|
|
| |
Toyota Motor Corp. (Japan) |
|
1,731 |
|
107,858 |
| |
Automobile Manufacturers |
|
|
|
|
| |
|
|
|
|
339,382 |
| |
MEDIA 5.4% |
|
|
|
|
| |
The Interpublic Group of Cos., Inc. (United States) |
|
4,662 |
|
108,529 |
| |
Advertising |
|
|
|
|
| |
Live Nation Entertainment, Inc. (United States) (a) |
|
1,622 |
|
39,864 |
| |
Movies & Entertainment |
|
|
|
|
| |
Grupo Televisa SAB (Mexico) (b) |
|
658 |
|
17,904 |
| |
Broadcasting |
|
|
|
|
| |
|
|
|
|
166,297 |
| |
CONSUMER DURABLES & APPAREL 2.4% |
|
|
|
|
| |
Cie Financiere Richemont SA (Switzerland) |
|
997 |
|
71,790 |
| |
Apparel, Accessories & Luxury Goods |
|
|
|
|
| |
|
|
|
|
577,469 |
| |
INDUSTRIALS 11.6% |
|
|
|
|
| |
CAPITAL GOODS 9.4% |
|
|
|
|
| |
CNH Industrial N.V. (United Kingdom) |
|
14,757 |
|
101,675 |
| |
Agricultural & Farm Machinery |
|
|
|
|
| |
Koninklijke Philips NV (Netherlands) |
|
2,446 |
|
62,614 |
| |
Industrial Conglomerates |
|
|
|
|
| |
USG Corp. (United States) (a) |
|
2,028 |
|
49,267 |
| |
Building Products |
|
|
|
|
| |
MTU Aero Engines AG (Germany) |
|
430 |
|
42,065 |
| |
Aerospace & Defense |
|
|
|
|
| |
Smiths Group PLC (United Kingdom) |
|
2,395 |
|
33,169 |
| |
Industrial Conglomerates |
|
|
|
|
| |
|
|
|
|
288,790 |
| |
TRANSPORTATION 2.2% |
|
|
|
|
| |
Union Pacific Corp. (United States) |
|
779 |
|
60,902 |
| |
Railroads |
|
|
|
|
| |
Kuehne + Nagel International AG (Switzerland) |
|
42 |
|
5,779 |
| |
Marine |
|
|
|
|
| |
|
|
|
|
66,681 |
| |
|
|
|
|
355,471 |
| |
MATERIALS 6.7% |
|
|
|
|
| |
Incitec Pivot, Ltd. (Australia) |
|
36,545 |
|
105,455 |
| |
Diversified Chemicals |
|
|
|
|
| |
LafargeHolcim, Ltd. (Switzerland) |
|
1,946 |
|
97,720 |
| |
Construction Materials |
|
|
|
|
| |
|
|
|
|
203,175 |
|
|
|
Shares |
|
Value |
| ||
Common Stocks 98.8% (cont.) |
|
|
|
|
| ||
|
|
|
|
|
| ||
HEALTH CARE 4.8% |
|
|
|
|
| ||
HEALTH CARE EQUIPMENT & SERVICES 4.8% |
|
|
|
|
| ||
Health Net, Inc. (United States) (a) |
|
1,212 |
|
$ |
82,981 |
| |
Managed Health Care |
|
|
|
|
| ||
Tenet Healthcare Corp. (United States) (a) |
|
2,126 |
|
64,432 |
| ||
Health Care Facilities |
|
|
|
|
| ||
|
|
|
|
147,413 |
| ||
ENERGY 2.1% |
|
|
|
|
| ||
Oceaneering International, Inc. (United States) |
|
744 |
|
27,913 |
| ||
Oil & Gas Equipment & Services |
|
|
|
|
| ||
National Oilwell Varco, Inc. (United States) |
|
615 |
|
20,580 |
| ||
Oil & Gas Equipment & Services |
|
|
|
|
| ||
Chesapeake Energy Corp. (United States) |
|
3,250 |
|
14,625 |
| ||
Oil & Gas Exploration & Production |
|
|
|
|
| ||
|
|
|
|
63,118 |
| ||
CONSUMER STAPLES 1.9% |
|
|
|
|
| ||
FOOD, BEVERAGE & TOBACCO 1.9% |
|
|
|
|
| ||
Diageo PLC (United Kingdom) |
|
2,115 |
|
57,895 |
| ||
Distillers & Vintners |
|
|
|
|
| ||
TOTAL COMMON STOCKS 98.8% |
|
|
|
3,016,385 |
| ||
|
|
|
|
|
| ||
|
|
Par Value |
|
Value |
| ||
SHORT TERM INVESTMENT 0.8% |
|
|
|
|
| ||
REPURCHASE AGREEMENT 0.8% |
|
|
|
|
| ||
Fixed Income Clearing Corp. Repurchase Agreement, 0.08% dated 12/31/15 due 01/04/16, repurchase price $22,747, collateralized by a United States Treasury Note, 1.625%, due 07/31/20, value plus accrued interest of $23,204 (Cost: $22,746) |
|
$ |
22,746 |
|
22,746 |
| |
TOTAL SHORT TERM INVESTMENTS 0.8% |
|
|
|
22,746 |
| ||
TOTAL INVESTMENTS 99.6% |
|
|
|
3,039,131 |
| ||
Other Assets In Excess of Liabilities 0.4% |
|
|
|
12,713 |
| ||
Foreign Currencies (Cost $0) 0.0% (c) |
|
|
|
0 |
(d) | ||
TOTAL NET ASSETS 100.0% |
|
|
|
$ |
3,051,844 |
| |
(a) |
Non-income producing security |
(b) |
Sponsored American Depositary Receipt |
(c) |
Amount rounds to less than 0.1%. |
(d) |
Amount rounds to less than $1,000. |
OAKMARK GLOBAL SELECT FUND
Global Diversification December 31, 2015 (Unaudited)
|
|
|
|
% of Equity Investments |
|
Europe 46.4% |
|
|
|
|
|
|
|
Switzerland |
|
22.8 |
% |
|
* |
France |
|
9.1 |
% |
|
|
United Kingdom |
|
8.3 |
% |
|
* |
Germany |
|
6.2 |
% |
North America 44.7% |
|
|
|
|
|
|
|
United States |
|
44.7 |
% |
Asia 8.9% |
|
|
|
|
|
|
|
South Korea |
|
4.7 |
% |
|
|
Japan |
|
4.2 |
% |
* Euro currency countries comprise 15.3% of equity investments.
Oakmark Global Select Fund |
December 31, 2015 (Unaudited) |
Schedule of Investments (in thousands) |
|
|
|
Shares |
|
Value |
| |
COMMON STOCKS 93.7% |
|
|
|
|
| |
INFORMATION TECHNOLOGY 25.4% |
|
|
|
|
| |
SOFTWARE & SERVICES 16.3% |
|
|
|
|
| |
Alphabet, Inc., Class C (United States) (a) |
|
228 |
|
$ |
173,309 |
|
Internet Software & Services |
|
|
|
|
| |
MasterCard, Inc., Class A (United States) |
|
1,100 |
|
107,096 |
| |
Data Processing & Outsourced Services |
|
|
|
|
| |
Oracle Corp. (United States) |
|
2,450 |
|
89,499 |
| |
Systems Software |
|
|
|
|
| |
|
|
|
|
369,904 |
| |
TECHNOLOGY HARDWARE & EQUIPMENT 9.1% |
|
|
|
|
| |
TE Connectivity, Ltd. (Switzerland) |
|
1,654 |
|
106,858 |
| |
Electronic Manufacturing Services |
|
|
|
|
| |
Samsung Electronics Co., Ltd. (South Korea) |
|
92 |
|
99,372 |
| |
Technology Hardware, Storage & Peripherals |
|
|
|
|
| |
|
|
|
|
206,230 |
| |
|
|
|
|
576,134 |
| |
FINANCIALS 24.4% |
|
|
|
|
| |
BANKS 10.1% |
|
|
|
|
| |
JPMorgan Chase & Co. (United States) |
|
1,762 |
|
116,345 |
| |
Diversified Banks |
|
|
|
|
| |
Bank of America Corp. (United States) |
|
6,737 |
|
113,384 |
| |
Diversified Banks |
|
|
|
|
| |
|
|
|
|
229,729 |
| |
DIVERSIFIED FINANCIALS 9.0% |
|
|
|
|
| |
Credit Suisse Group AG (Switzerland) |
|
5,300 |
|
114,774 |
| |
Diversified Capital Markets |
|
|
|
|
| |
Daiwa Securities Group, Inc. (Japan) |
|
14,601 |
|
90,476 |
| |
Investment Banking & Brokerage |
|
|
|
|
| |
|
|
|
|
205,250 |
| |
INSURANCE 5.3% |
|
|
|
|
| |
American International Group, Inc. (United States) |
|
1,922 |
|
119,106 |
| |
Multi-line Insurance |
|
|
|
|
| |
|
|
|
|
554,085 |
| |
CONSUMER DISCRETIONARY 14.6% |
|
|
|
|
| |
CONSUMER DURABLES & APPAREL 8.8% |
|
|
|
|
| |
Kering SA (France) |
|
643 |
|
110,355 |
| |
Apparel, Accessories & Luxury Goods |
|
|
|
|
| |
Cie Financiere Richemont SA (Switzerland) |
|
1,260 |
|
90,730 |
| |
Apparel, Accessories & Luxury Goods |
|
|
|
|
| |
|
|
|
|
201,085 |
| |
AUTOMOBILES & COMPONENTS 5.8% |
|
|
|
|
| |
Daimler AG (Germany) |
|
1,557 |
|
131,228 |
| |
Automobile Manufacturers |
|
|
|
|
| |
|
|
|
|
332,313 |
| |
INDUSTRIALS 12.8% |
|
|
|
|
| |
CAPITAL GOODS 10.1% |
|
|
|
|
| |
General Electric Co. (United States) |
|
4,450 |
|
138,618 |
| |
Industrial Conglomerates |
|
|
|
|
| |
CNH Industrial N.V. (United Kingdom) |
|
13,078 |
|
|
90,104 |
|
Agricultural & Farm Machinery |
|
|
|
|
| |
|
|
|
|
228,722 |
| |
TRANSPORTATION 2.7% |
|
|
|
|
| |
Kuehne + Nagel International AG (Switzerland) |
|
450 |
|
61,897 |
| |
Marine |
|
|
|
|
| |
|
|
|
|
290,619 |
| |
CONSUMER STAPLES 7.5% |
|
|
|
|
| |
FOOD, BEVERAGE & TOBACCO 7.5% |
|
|
|
|
| |
Diageo PLC (United Kingdom) |
|
3,119 |
|
85,371 |
| |
Distillers & Vintners |
|
|
|
|
| |
Danone SA (France) |
|
1,236 |
|
83,668 |
| |
Packaged Foods & Meats |
|
|
|
|
| |
|
|
|
|
169,039 |
| |
MATERIALS 4.9% |
|
|
|
|
| |
LafargeHolcim, Ltd. (Switzerland) |
|
2,192 |
|
110,090 |
| |
Construction Materials |
|
|
|
|
| |
ENERGY 4.1% |
|
|
|
|
| |
Apache Corp. (United States) |
|
2,100 |
|
93,387 |
| |
Oil & Gas Exploration & Production |
|
|
|
|
| |
TOTAL COMMON STOCKS 93.7% |
|
|
|
2,125,667 |
|
|
|
Par Value |
|
Value |
| ||
SHORT TERM INVESTMENTS 5.1% |
|
|
|
|
| ||
REPURCHASE AGREEMENT 5.1% |
|
|
|
|
| ||
Fixed Income Clearing Corp. Repurchase Agreement, 0.08% dated 12/31/15 due 01/04/16, repurchase price $116,511, collateralized by a United States Treasury Note, 3.125%, due 10/31/16, value plus accrued interest of $118,844 (Cost: $116,510) |
|
$ |
116,510 |
|
116,510 |
| |
TOTAL SHORT TERM INVESTMENTS 5.1% |
|
|
|
116,510 |
| ||
TOTAL INVESTMENTS 98.8% |
|
|
|
2,242,177 |
| ||
Other Assets In Excess of Liabilities 1.2% |
|
|
|
26,085 |
| ||
Foreign Currencies (Cost $0) 0.0% (b) |
|
|
|
0 |
(c) | ||
TOTAL NET ASSETS 100.0% |
|
|
|
$ |
2,268,262 |
| |
(a) |
Non-income producing security |
|
(b) |
Amount rounds to less than 0.1%. |
|
(c) |
Amount rounds to less than $1,000. |
|
OAKMARK INTERNATIONAL FUND
Global Diversification December 31, 2015 (Unaudited)
|
|
|
|
|
% of Equity Investments |
|
Europe 65.8% |
|
|
|
|
|
|
|
|
|
Switzerland |
|
15.9 |
% |
|
* |
|
France |
|
13.7 |
% |
|
|
|
United Kingdom |
|
13.3 |
% |
|
* |
|
Germany |
|
9.3 |
% |
|
* |
|
Italy |
|
5.7 |
% |
|
|
|
Sweden |
|
3.7 |
% |
|
* |
|
Netherlands |
|
2.5 |
% |
|
* |
|
Ireland |
|
1.7 |
% |
Asia 27.6% |
|
|
|
|
|
|
|
|
|
Japan |
|
19.6 |
% |
|
|
|
South Korea |
|
2.5 |
% |
|
|
|
Indonesia |
|
2.2 |
% |
|
|
|
Hong Kong |
|
1.9 |
% |
|
|
|
China |
|
1.4 |
% |
Australasia 3.2% |
|
|
|
|
|
|
|
|
|
Australia |
|
3.2 |
% |
North America 2.2% |
|
|
|
|
|
|
|
|
|
United States |
|
2.2 |
% |
Latin America 1.0% |
|
|
|
|
|
|
|
|
|
Mexico |
|
1.0 |
% |
Middle East 0.2% |
|
|
|
|
|
|
|
|
|
Israel |
|
0.2 |
% |
* Euro currency countries comprise 32.9% of equity investments.
Oakmark International Fund |
|
December 31, 2015 (Unaudited) |
Schedule of Investments (in thousands) |
|
|
|
|
Shares |
|
Value |
| |
COMMON STOCKS 96.5% |
|
|
|
|
| |
FINANCIALS 30.9% |
|
|
|
|
| |
DIVERSIFIED FINANCIALS 13.6% |
|
|
|
|
| |
Credit Suisse Group AG (Switzerland) |
|
58,882 |
|
$ |
1,275,120 |
|
Diversified Capital Markets |
|
|
|
|
| |
Nomura Holdings, Inc. (Japan) |
|
163,909 |
|
926,085 |
| |
Investment Banking & Brokerage |
|
|
|
|
| |
EXOR SPA (Italy) (b) |
|
13,318 |
|
609,192 |
| |
Multi-Sector Holdings |
|
|
|
|
| |
Daiwa Securities Group, Inc. (Japan) |
|
87,280 |
|
540,839 |
| |
Investment Banking & Brokerage |
|
|
|
|
| |
Schroders PLC (United Kingdom) |
|
5,829 |
|
255,713 |
| |
Asset Management & Custody Banks |
|
|
|
|
| |
Schroders PLC, Non-Voting (United Kingdom) |
|
31 |
|
1,047 |
| |
Asset Management & Custody Banks |
|
|
|
|
| |
|
|
|
|
3,607,996 |
| |
BANKS 10.7% |
|
|
|
|
| |
BNP Paribas SA (France) |
|
17,454 |
|
990,682 |
| |
Diversified Banks |
|
|
|
|
| |
Lloyds Banking Group PLC (United Kingdom) |
|
536,545 |
|
577,965 |
| |
Diversified Banks |
|
|
|
|
| |
Bank Mandiri Persero Tbk PT (Indonesia) |
|
815,618 |
|
547,295 |
| |
Diversified Banks |
|
|
|
|
| |
Intesa Sanpaolo SPA (Italy) |
|
132,323 |
|
444,059 |
| |
Diversified Banks |
|
|
|
|
| |
Sumitomo Mitsui Financial Group, Inc. (Japan) |
|
7,114 |
|
272,604 |
| |
Diversified Banks |
|
|
|
|
| |
|
|
|
|
2,832,605 |
| |
INSURANCE 6.6% |
|
|
|
|
| |
Allianz SE (Germany) |
|
4,394 |
|
780,910 |
| |
Multi-line Insurance |
|
|
|
|
| |
Willis Group Holdings PLC (United States) |
|
11,480 |
|
557,594 |
| |
Insurance Brokers |
|
|
|
|
| |
AMP, Ltd. (Australia) |
|
100,048 |
|
425,035 |
| |
Life & Health Insurance |
|
|
|
|
| |
|
|
|
|
1,763,539 |
| |
|
|
|
|
8,204,140 |
| |
CONSUMER DISCRETIONARY 28.5% |
|
|
|
|
| |
AUTOMOBILES & COMPONENTS 14.1% |
|
|
|
|
| |
Honda Motor Co., Ltd. (Japan) |
|
31,407 |
|
1,021,675 |
| |
Automobile Manufacturers |
|
|
|
|
| |
Daimler AG (Germany) |
|
10,227 |
|
862,264 |
| |
Automobile Manufacturers |
|
|
|
|
| |
Toyota Motor Corp. (Japan) |
|
13,733 |
|
855,561 |
| |
Automobile Manufacturers |
|
|
|
|
| |
Bayerische Motoren Werke (BMW) AG (Germany) |
|
6,870 |
|
728,935 |
| |
Automobile Manufacturers |
|
|
|
|
| |
Valeo SA (France) |
|
1,786 |
|
|
276,742 |
|
Auto Parts & Equipment |
|
|
|
|
| |
|
|
|
|
3,745,177 |
| |
CONSUMER DURABLES & APPAREL 10.1% |
|
|
|
|
| |
Kering SA (France) |
|
4,042 |
|
693,854 |
| |
Apparel, Accessories & Luxury Goods |
|
|
|
|
| |
Cie Financiere Richemont SA (Switzerland) |
|
8,014 |
|
576,876 |
| |
Apparel, Accessories & Luxury Goods |
|
|
|
|
| |
Swatch Group AG, Bearer Shares (Switzerland) |
|
1,246 |
|
435,582 |
| |
Apparel, Accessories & Luxury Goods |
|
|
|
|
| |
Prada SPA (Italy) (b) |
|
132,274 |
|
411,327 |
| |
Apparel, Accessories & Luxury Goods |
|
|
|
|
| |
LVMH Moet Hennessy Louis Vuitton SE (France) |
|
2,192 |
|
345,123 |
| |
Apparel, Accessories & Luxury Goods |
|
|
|
|
| |
Burberry Group PLC (United Kingdom) |
|
12,261 |
|
216,004 |
| |
Apparel, Accessories & Luxury Goods |
|
|
|
|
| |
|
|
|
|
2,678,766 |
| |
CONSUMER SERVICES 1.8% |
|
|
|
|
| |
Melco Crown Entertainment, Ltd. (Hong Kong) (b) (c) |
|
28,848 |
|
484,639 |
| |
Casinos & Gaming |
|
|
|
|
| |
MEDIA 1.6% |
|
|
|
|
| |
Grupo Televisa SAB (Mexico) (c) |
|
9,586 |
|
260,824 |
| |
Broadcasting |
|
|
|
|
| |
WPP PLC (United Kingdom) |
|
6,792 |
|
156,495 |
| |
Advertising |
|
|
|
|
| |
|
|
|
|
417,319 |
| |
RETAILING 0.9% |
|
|
|
|
| |
Hennes & Mauritz AB (H&M) - Class B (Sweden) |
|
6,725 |
|
240,669 |
| |
Apparel Retail |
|
|
|
|
| |
|
|
|
|
7,566,570 |
| |
INDUSTRIALS 18.2% |
|
|
|
|
| |
CAPITAL GOODS 12.5% |
|
|
|
|
| |
CNH Industrial N.V. (United Kingdom) (b) |
|
93,721 |
|
645,736 |
| |
Agricultural & Farm Machinery |
|
|
|
|
| |
Komatsu, Ltd. (Japan) |
|
34,544 |
|
572,498 |
| |
Construction Machinery & Heavy Trucks |
|
|
|
|
| |
Koninklijke Philips NV (Netherlands) |
|
21,517 |
|
550,921 |
| |
Industrial Conglomerates |
|
|
|
|
| |
SKF AB (Sweden) (b) |
|
24,358 |
|
395,892 |
| |
Industrial Machinery |
|
|
|
|
| |
Smiths Group PLC (United Kingdom) (b) |
|
22,771 |
|
315,380 |
| |
Industrial Conglomerates |
|
|
|
|
| |
Atlas Copco AB, Series B (Sweden) |
|
12,352 |
|
285,781 |
| |
Industrial Machinery |
|
|
|
|
| |
Meggitt PLC (United Kingdom) (b) |
|
42,505 |
|
234,792 |
| |
Aerospace & Defense |
|
|
|
|
| |
Ashtead Group PLC (United Kingdom) |
|
10,446 |
|
172,317 |
| |
Trading Companies & Distributors |
|
|
|
|
| |
Schindler Holding AG (Switzerland) |
|
369 |
|
61,948 |
| |
Industrial Machinery |
|
|
|
|
|
|
|
Shares |
|
Value |
| |
Common Stocks 96.5% (cont.) |
|
|
|
|
| |
Industrials 18.2% (cont.) |
|
|
|
|
| |
Capital Goods 12.5% (cont.) |
|
|
|
|
| |
Safran SA (France) |
|
859 |
|
$ |
59,122 |
|
Aerospace & Defense |
|
|
|
|
| |
Wolseley PLC (United Kingdom) |
|
526 |
|
28,616 |
| |
Trading Companies & Distributors |
|
|
|
|
| |
|
|
|
|
3,323,003 |
| |
COMMERCIAL & PROFESSIONAL SERVICES 4.5% |
|
|
|
|
| |
Bureau Veritas SA (France) (b) |
|
23,362 |
|
466,887 |
| |
Research & Consulting Services |
|
|
|
|
| |
Experian PLC (Ireland) |
|
24,638 |
|
436,211 |
| |
Research & Consulting Services |
|
|
|
|
| |
G4S PLC (United Kingdom) |
|
67,492 |
|
224,366 |
| |
Security & Alarm Services |
|
|
|
|
| |
Secom Co., Ltd. (Japan) |
|
1,158 |
|
79,353 |
| |
Security & Alarm Services |
|
|
|
|
| |
|
|
|
|
1,206,817 |
| |
TRANSPORTATION 1.2% |
|
|
|
|
| |
Kuehne + Nagel International AG (Switzerland) |
|
2,221 |
|
305,565 |
| |
Marine |
|
|
|
|
| |
|
|
|
|
4,835,385 |
| |
MATERIALS 7.0% |
|
|
|
|
| |
Glencore PLC (Switzerland) |
|
543,853 |
|
725,422 |
| |
Diversified Metals & Mining |
|
|
|
|
| |
LafargeHolcim, Ltd. (Switzerland) |
|
12,636 |
|
634,592 |
| |
Construction Materials |
|
|
|
|
| |
Orica, Ltd. (Australia) (b) |
|
35,886 |
|
405,332 |
| |
Commodity Chemicals |
|
|
|
|
| |
Akzo Nobel NV (Netherlands) |
|
1,259 |
|
84,418 |
| |
Specialty Chemicals |
|
|
|
|
| |
|
|
|
|
1,849,764 |
| |
INFORMATION TECHNOLOGY 6.3% |
|
|
|
|
| |
TECHNOLOGY HARDWARE & EQUIPMENT 4.7% |
|
|
|
|
| |
Samsung Electronics Co., Ltd. (South Korea) |
|
604 |
|
648,902 |
| |
Technology Hardware, Storage & Peripherals |
|
|
|
|
| |
OMRON Corp. (Japan) (b) |
|
17,817 |
|
602,568 |
| |
Electronic Components |
|
|
|
|
| |
|
|
|
|
1,251,470 |
| |
SOFTWARE & SERVICES 1.6% |
|
|
|
|
| |
Baidu, Inc. (China) (a) (c) |
|
1,885 |
|
356,416 |
| |
Internet Software & Services |
|
|
|
|
| |
Check Point Software Technologies, Ltd. (Israel) (a) |
|
651 |
|
52,954 |
| |
Systems Software |
|
|
|
|
| |
|
|
|
|
409,370 |
| |
|
|
|
|
1,660,840 |
| |
|
|
|
|
|
| |
CONSUMER STAPLES 4.8% |
|
|
|
|
| |
FOOD, BEVERAGE & TOBACCO 4.8% |
|
|
|
|
| |
Diageo PLC (United Kingdom) |
|
18,480 |
|
|
505,759 |
|
Distillers & Vintners |
|
|
|
|
| |
Danone SA (France) |
|
5,523 |
|
373,783 |
| |
Packaged Foods & Meats |
|
|
|
|
| |
Pernod Ricard SA (France) |
|
2,746 |
|
313,882 |
| |
Distillers & Vintners |
|
|
|
|
| |
Nestle SA (Switzerland) |
|
886 |
|
65,915 |
| |
Packaged Foods & Meats |
|
|
|
|
| |
Swedish Match AB (Sweden) |
|
402 |
|
14,288 |
| |
Tobacco |
|
|
|
|
| |
|
|
|
|
1,273,627 |
| |
HEALTH CARE 0.8% |
|
|
|
|
| |
HEALTH CARE EQUIPMENT & SERVICES 0.5% |
|
|
|
|
| |
Olympus Corp. (Japan) |
|
3,636 |
|
145,208 |
| |
Health Care Equipment |
|
|
|
|
| |
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES 0.3% |
|
|
|
|
| |
GlaxoSmithKline PLC (United Kingdom) |
|
3,501 |
|
70,871 |
| |
Pharmaceuticals |
|
|
|
|
| |
|
|
|
|
216,079 |
| |
TOTAL COMMON STOCKS 96.5% |
|
|
|
25,606,405 |
|
|
|
Par Value |
|
Value |
| ||
SHORT TERM INVESTMENTS 3.1% |
|
|
|
|
| ||
GOVERNMENT AND AGENCY SECURITIES 0.9% |
|
|
|
|
| ||
United States Treasury Floating Rate Note, 0.319%, due 04/30/16 (d) (Cost $250,000) |
|
$ |
250,000 |
|
250,056 |
| |
Total Government and Agency Securities |
|
|
|
250,056 |
| ||
COMMERCIAL PAPER 0.9% |
|
|
|
|
| ||
J.P. Morgan Securities LLC, 144A, 0.48% - 0.76%, due 03/17/16 - 06/07/16 (e) (f) (Cost $249,486) |
|
250,000 |
|
249,533 |
| ||
REPURCHASE AGREEMENT 0.9% |
|
|
|
|
| ||
Fixed Income Clearing Corp. Repurchase Agreement, 0.08% dated 12/31/15 due 01/04/16, repurchase price $227,815, collateralized by a United States Treasury Note, 1.750%, due 12/31/20, value plus accrued interest of $232,369 (Cost: $227,813) |
|
227,813 |
|
227,813 |
| ||
U.S. GOVERNMENT BILLS 0.4% |
|
|
|
|
| ||
United States Treasury Bill, 0.14%, due 02/04/16 (e) (Cost $99,987) |
|
100,000 |
|
99,987 |
| ||
TOTAL SHORT TERM INVESTMENTS 3.1% |
|
|
|
827,389 |
| ||
TOTAL INVESTMENTS 99.6% |
|
|
|
26,433,794 |
| ||
Foreign Currencies (Cost $2) 0.0% (g) |
|
|
|
2 |
| ||
Other Assets In Excess of Liabilities 0.4% |
|
|
|
106,161 |
| ||
TOTAL NET ASSETS 100.0% |
|
|
|
$ |
26,539,957 |
| |
(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) |
|
Floating Rate Note. Rate shown is as of December 31, 2015. |
(e) |
|
The rate shown represents the annualized yield at the time of purchase; not a coupon rate. |
(f) |
|
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. |
(g) |
|
Amount rounds to less than 0.1%. |
OAKMARK INTERNATIONAL SMALL CAP FUND
Global Diversification December 31, 2015 (Unaudited)
|
|
|
|
|
|
% of Equity Investments |
|
Europe 60.1% |
|
|
|
|
|
|
|
|
|
|
|
United Kingdom |
|
17.2 |
% |
|
|
|
|
Switzerland |
|
16.1 |
% |
|
|
* |
|
Finland |
|
7.2 |
% |
|
|
* |
|
Germany |
|
3.6 |
% |
|
|
* |
|
Italy |
|
3.5 |
% |
|
|
* |
|
Netherlands |
|
2.6 |
% |
|
|
* |
|
France |
|
2.5 |
% |
|
|
|
|
Norway |
|
2.4 |
% |
|
|
* |
|
Spain |
|
2.3 |
% |
|
|
|
|
Denmark |
|
1.5 |
% |
|
|
* |
|
Greece |
|
1.2 |
% |
|
|
* |
|
Austria |
|
0.0 |
%(a) |
|
|
|
|
|
|
|
|
Asia 20.3% |
|
|
|
|
|
|
|
|
|
|
|
Japan |
|
10.0 |
% |
|
|
|
|
South Korea |
|
5.0 |
% |
|
|
|
|
Hong Kong |
|
4.3 |
% |
|
|
|
|
China |
|
1.0 |
% |
Australasia 13.0% |
|
|
|
|
|
|
|
|
|
|
|
Australia |
|
10.8 |
% |
|
|
|
|
New Zealand |
|
2.2 |
% |
North America 3.4% |
|
|
|
|
|
|
|
|
|
|
|
Canada |
|
3.4 |
% |
Latin America 2.0% |
|
|
|
|
|
|
|
|
|
|
|
Brazil |
|
2.0 |
% |
Middle East 1.2% |
|
|
|
|
|
|
|
|
|
|
|
Israel |
|
1.2 |
% |
* Euro currency countries comprise 22.9% of equity investments.
(a) Amount rounds to less than 0.1%.
Oakmark International Small Cap Fund |
December 31, 2015 (Unaudited) |
Schedule of Investments (in thousands) |
|
|
|
Shares |
|
Value |
| |
COMMON STOCKS 95.6% |
|
|
|
|
| |
INDUSTRIALS 43.4% |
|
|
|
|
| |
CAPITAL GOODS 23.5% |
|
|
|
|
| |
Konecranes OYJ (Finland) (b) |
|
3,381 |
|
$ |
84,139 |
|
Industrial Machinery |
|
|
|
|
| |
MTU Aero Engines AG (Germany) |
|
796 |
|
77,912 |
| |
Aerospace & Defense |
|
|
|
|
| |
Metso OYJ (Finland) |
|
3,195 |
|
71,863 |
| |
Industrial Machinery |
|
|
|
|
| |
Bucher Industries AG (Switzerland) |
|
315 |
|
71,220 |
| |
Construction Machinery & Heavy Trucks |
|
|
|
|
| |
Sulzer AG (Switzerland) |
|
596 |
|
56,140 |
| |
Industrial Machinery |
|
|
|
|
| |
Morgan Advanced Materials PLC (United Kingdom) |
|
14,521 |
|
52,961 |
| |
Industrial Machinery |
|
|
|
|
| |
Saft Groupe SA (France) (b) |
|
1,661 |
|
50,702 |
| |
Electrical Components & Equipment |
|
|
|
|
| |
Melrose Industries PLC (United Kingdom) |
|
10,014 |
|
42,946 |
| |
Industrial Machinery |
|
|
|
|
| |
Travis Perkins PLC (United Kingdom) |
|
1,304 |
|
37,937 |
| |
Trading Companies & Distributors |
|
|
|
|
| |
Outotec OYJ (Finland) (b) (c) |
|
9,337 |
|
34,499 |
| |
Construction & Engineering |
|
|
|
|
| |
Finning International, Inc. (Canada) |
|
2,455 |
|
33,137 |
| |
Trading Companies & Distributors |
|
|
|
|
| |
Prysmian SpA (Italy) |
|
1,041 |
|
22,920 |
| |
Electrical Components & Equipment |
|
|
|
|
| |
Wajax Corp. (Canada) (b) |
|
1,162 |
|
14,099 |
| |
Trading Companies & Distributors |
|
|
|
|
| |
|
|
|
|
650,475 |
| |
COMMERCIAL & PROFESSIONAL SERVICES 13.3% |
|
|
|
|
| |
Applus Services SA (Spain) |
|
6,645 |
|
60,295 |
| |
Research & Consulting Services |
|
|
|
|
| |
ALS, Ltd. (Australia) |
|
19,526 |
|
53,642 |
| |
Research & Consulting Services |
|
|
|
|
| |
Mitie Group PLC (United Kingdom) |
|
10,577 |
|
48,493 |
| |
Environmental & Facilities Services |
|
|
|
|
| |
Michael Page International PLC (United Kingdom) |
|
6,593 |
|
47,071 |
| |
Human Resource & Employment Services |
|
|
|
|
| |
Transpacific Industries Group, Ltd. (Australia) |
|
60,595 |
|
34,883 |
| |
Environmental & Facilities Services |
|
|
|
|
| |
SThree PLC (United Kingdom) |
|
6,359 |
|
30,562 |
| |
Human Resource & Employment Services |
|
|
|
|
| |
Brunel International N.V. (Netherlands) |
|
1,460 |
|
26,661 |
| |
Human Resource & Employment Services |
|
|
|
|
| |
Randstad Holding N.V. (Netherlands) |
|
407 |
|
25,445 |
| |
Human Resource & Employment Services |
|
|
|
|
| |
Dorma+Kaba Holding AG (Switzerland) |
|
30 |
|
20,605 |
| |
Security & Alarm Services |
|
|
|
|
| |
gategroup Holding AG (Switzerland) |
|
443 |
|
|
19,526 |
|
Diversified Support Services |
|
|
|
|
| |
|
|
|
|
367,183 |
| |
TRANSPORTATION 6.6% |
|
|
|
|
| |
Panalpina Welttransport Holding AG (Switzerland) |
|
633 |
|
71,115 |
| |
Air Freight & Logistics |
|
|
|
|
| |
DSV AS (Denmark) |
|
1,028 |
|
40,665 |
| |
Trucking |
|
|
|
|
| |
BBA Aviation PLC (United Kingdom) |
|
14,553 |
|
40,570 |
| |
Airport Services |
|
|
|
|
| |
Freightways, Ltd. (New Zealand) |
|
7,383 |
|
31,356 |
| |
Air Freight & Logistics |
|
|
|
|
| |
|
|
|
|
183,706 |
| |
|
|
|
|
1,201,364 |
| |
FINANCIALS 18.0% |
|
|
|
|
| |
DIVERSIFIED FINANCIALS 9.6% |
|
|
|
|
| |
Julius Baer Group, Ltd. (Switzerland) |
|
2,332 |
|
113,294 |
| |
Asset Management & Custody Banks |
|
|
|
|
| |
EFG International AG (Switzerland) |
|
6,926 |
|
72,948 |
| |
Asset Management & Custody Banks |
|
|
|
|
| |
Element Financial Corp. (Canada) |
|
3,464 |
|
41,808 |
| |
Specialized Finance |
|
|
|
|
| |
Ichiyoshi Securities Co., Ltd. (Japan) (b) |
|
2,221 |
|
20,622 |
| |
Investment Banking & Brokerage |
|
|
|
|
| |
MLP AG (Germany) |
|
4,209 |
|
16,786 |
| |
Asset Management & Custody Banks |
|
|
|
|
| |
|
|
|
|
265,458 |
| |
BANKS 4.8% |
|
|
|
|
| |
DGB Financial Group, Inc. (South Korea) |
|
7,909 |
|
67,784 |
| |
Regional Banks |
|
|
|
|
| |
BNK Financial Group, Inc. (South Korea) |
|
8,792 |
|
63,138 |
| |
Regional Banks |
|
|
|
|
| |
BNK Financial Group, Inc. Rights (South Korea) (a) (d) |
|
1,924 |
|
2,376 |
| |
Regional Banks |
|
|
|
|
| |
|
|
|
|
133,298 |
| |
REAL ESTATE 3.6% |
|
|
|
|
| |
Countrywide PLC (United Kingdom) |
|
9,573 |
|
56,367 |
| |
Real Estate Services |
|
|
|
|
| |
LSL Property Services PLC (United Kingdom) (b) |
|
10,416 |
|
43,762 |
| |
Real Estate Services |
|
|
|
|
| |
|
|
|
|
100,129 |
| |
|
|
|
|
498,885 |
| |
INFORMATION TECHNOLOGY 10.6% |
|
|
|
|
| |
TECHNOLOGY HARDWARE & EQUIPMENT 5.8% |
|
|
|
|
| |
Hirose Electric Co., Ltd. (Japan) |
|
598 |
|
73,373 |
| |
Electronic Components |
|
|
|
|
| |
Premier Farnell PLC (United Kingdom) (b) |
|
22,425 |
|
32,398 |
| |
Technology Distributors |
|
|
|
|
| |
Orbotech, Ltd. (Israel) (a) |
|
1,433 |
|
31,704 |
| |
Electronic Equipment & Instruments |
|
|
|
|
|
|
|
Shares |
|
Value |
| |
Common Stocks 95.6% (cont.) |
|
|
|
|
| |
Information Technology 10.6% (cont.) |
|
|
|
|
| |
Technology Hardware & Equipment 5.8% (cont.) |
|
|
|
|
| |
Electrocomponents PLC (United Kingdom) |
|
6,296 |
|
$ |
22,119 |
|
Technology Distributors |
|
|
|
|
| |
|
|
|
|
159,594 |
| |
SOFTWARE & SERVICES 4.8% |
|
|
|
|
| |
Atea ASA (Norway) (b) |
|
7,741 |
|
64,275 |
| |
IT Consulting & Other Services |
|
|
|
|
| |
Totvs SA (Brazil) |
|
6,853 |
|
53,749 |
| |
Systems Software |
|
|
|
|
| |
Altran Technologies SA (France) |
|
1,222 |
|
16,390 |
| |
IT Consulting & Other Services |
|
|
|
|
| |
|
|
|
|
134,414 |
| |
|
|
|
|
294,008 |
| |
CONSUMER DISCRETIONARY 7.8% |
|
|
|
|
| |
CONSUMER SERVICES 2.8% |
|
|
|
|
| |
Melco International Development, Ltd. (Hong Kong) |
|
52,129 |
|
78,294 |
| |
Casinos & Gaming |
|
|
|
|
| |
MEDIA 2.8% |
|
|
|
|
| |
Hakuhodo DY Holdings, Inc. (Japan) |
|
4,572 |
|
50,168 |
| |
Advertising |
|
|
|
|
| |
SKY Network Television, Ltd. (New Zealand) |
|
8,295 |
|
26,042 |
| |
Cable & Satellite |
|
|
|
|
| |
|
|
|
|
76,210 |
| |
RETAILING 2.2% |
|
|
|
|
| |
Hengdeli Holdings, Ltd. (Hong Kong) |
|
232,369 |
|
33,881 |
| |
Specialty Stores |
|
|
|
|
| |
China ZhengTong Auto Services Holdings, Ltd. (China) |
|
56,471 |
|
25,940 |
| |
Automotive Retail |
|
|
|
|
| |
|
|
|
|
59,821 |
| |
|
|
|
|
214,325 |
| |
MATERIALS 6.8% |
|
|
|
|
| |
Incitec Pivot, Ltd. (Australia) |
|
38,694 |
|
111,658 |
| |
Diversified Chemicals |
|
|
|
|
| |
Kansai Paint Co., Ltd. (Japan) |
|
3,027 |
|
46,465 |
| |
Specialty Chemicals |
|
|
|
|
| |
Titan Cement Co. SA (Greece) |
|
1,587 |
|
30,366 |
| |
Construction Materials |
|
|
|
|
| |
|
|
|
|
188,489 |
| |
CONSUMER STAPLES 4.9% |
|
|
|
|
| |
FOOD & STAPLES RETAILING 2.7% |
|
|
|
|
| |
Sugi Holdings Co., Ltd. (Japan) |
|
1,339 |
|
74,640 |
| |
Drug Retail |
|
|
|
|
| |
FOOD, BEVERAGE & TOBACCO 2.2% |
|
|
|
|
| |
Treasury Wine Estates, Ltd. (Australia) |
|
5,834 |
|
35,284 |
| |
Distillers & Vintners |
|
|
|
|
| |
Davide Campari-Milano SPA (Italy) |
|
2,840 |
|
|
24,693 |
|
Distillers & Vintners |
|
|
|
|
| |
|
|
|
|
59,977 |
| |
|
|
|
|
134,617 |
| |
HEALTH CARE 3.6% |
|
|
|
|
| |
HEALTH CARE EQUIPMENT & SERVICES 3.4% |
|
|
|
|
| |
Primary Health Care, Ltd. (Australia) (b) |
|
29,491 |
|
50,287 |
| |
Health Care Services |
|
|
|
|
| |
Amplifon S.p.A. (Italy) |
|
5,203 |
|
45,206 |
| |
Health Care Distributors |
|
|
|
|
| |
|
|
|
|
95,493 |
| |
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES 0.2% |
|
|
|
|
| |
QIAGEN N.V. (Netherlands) (a) |
|
188 |
|
5,201 |
| |
Life Sciences Tools & Services |
|
|
|
|
| |
|
|
|
|
100,694 |
| |
ENERGY 0.5% |
|
|
|
|
| |
Fugro NV (Netherlands) (a) |
|
769 |
|
12,594 |
| |
Oil & Gas Equipment & Services |
|
|
|
|
| |
Schoeller-Bleckmann Oilfield Equipment AG (Austria) |
|
9 |
|
518 |
| |
Oil & Gas Equipment & Services |
|
|
|
|
| |
|
|
|
|
13,112 |
| |
TOTAL COMMON STOCKS 95.6% |
|
|
|
2,645,494 |
|
|
|
Par Value |
|
Value |
| ||
SHORT TERM INVESTMENTS 3.8% |
|
|
|
|
| ||
REPURCHASE AGREEMENT 3.8% |
|
|
|
|
| ||
Fixed Income Clearing Corp. Repurchase Agreement, 0.08% dated 12/31/15 due 01/04/16, repurchase price $106,018, collateralized by a United States Treasury Note, 1.750%, due 12/31/20, value plus accrued interest of $108,140 (Cost: $106,017) |
|
$ |
106,017 |
|
106,017 |
| |
TOTAL SHORT TERM INVESTMENTS 3.8% |
|
|
|
106,017 |
| ||
TOTAL INVESTMENTS 99.4% |
|
|
|
2,751,511 |
| ||
Other Assets In Excess of Liabilities 0.6% |
|
|
|
16,366 |
| ||
Foreign Currencies (Cost $0) 0.0% (e) |
|
|
|
0 |
(f) | ||
TOTAL NET ASSETS 100.0% |
|
|
|
$ |
2,767,877 |
| |
(a) |
Non-income producing security |
(b) |
See Note 2 in the Notes to Schedules of Investments regarding investments in affiliated issuers. |
(c) |
A portion of the security out on loan. |
(d) |
Fair value is determined in good faith in accordance with procedures established by the Board of Trustees. |
(e) |
Amount rounds to less than 0.1%. |
(f) |
Amount rounds to less than $1,000. |
THE OAKMARK FUNDS
Notes to Schedules of Investments (Unaudited)
1. SIGNIFICANT ACCOUNTING POLICIES
Organization
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 and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies. 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 System are valued at the NASDAQ Official Closing Price (NOCP), or lacking an NOCP, at the most recent bid quotation on the NASDAQ National Market System. 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. At December 31, 2015 Intl Small Cap held a security which was valued by the pricing committee at a fair value determined in good faith in accordance with procedures established by the Board of Trustees.
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 Advisers 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 Advisers 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 level 2 at the end of the reporting cycle. At December 31, 2015, there were no transfers between levels.
The following is a summary of the inputs used as of December 31, 2015 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:
|
|
Quoted Prices |
|
Other |
|
|
| |||
|
|
in Active |
|
Significant |
|
Significant |
| |||
|
|
Markets for |
|
Observable |
|
Unobservable |
| |||
(in thousands) |
|
(Level 1) |
|
(Level 2) |
|
(Level 3) |
| |||
Oakmark |
|
|
|
|
|
|
| |||
Common Stocks |
|
$ |
16,224,537 |
|
$ |
0 |
|
$ |
0 |
|
Short Term Investments |
|
0 |
|
848,212 |
|
0 |
| |||
Total |
|
$ |
16,224,537 |
|
$ |
848,212 |
|
$ |
0 |
|
|
|
|
|
|
|
|
| |||
Select |
|
|
|
|
|
|
| |||
Common Stocks |
|
$ |
5,427,011 |
|
$ |
0 |
|
$ |
0 |
|
Preferred Stocks |
|
7,021 |
|
0 |
|
0 |
| |||
Convertible Bond |
|
0 |
|
53,029 |
|
0 |
| |||
Short Term Investments |
|
0 |
|
337,834 |
|
0 |
| |||
Total |
|
$ |
5,434,032 |
|
$ |
390,863 |
|
$ |
0 |
|
|
|
|
|
|
|
|
| |||
Equity and Income |
|
|
|
|
|
|
| |||
Common Stocks |
|
$ |
10,812,653 |
|
$ |
0 |
|
$ |
0 |
|
Government and Agency Securities |
|
0 |
|
1,576,116 |
|
0 |
| |||
Corporate Bonds |
|
0 |
|
1,623,522 |
|
0 |
| |||
Asset Backed Securities |
|
0 |
|
11,457 |
|
0 |
| |||
Short Term Investments |
|
0 |
|
3,564,586 |
|
0 |
| |||
Total |
|
$ |
10,812,653 |
|
$ |
6,775,681 |
|
$ |
0 |
|
|
|
|
|
|
|
|
| |||
Global |
|
|
|
|
|
|
| |||
Common Stocks |
|
$ |
3,016,385 |
|
$ |
0 |
|
$ |
0 |
|
Short Term Investments |
|
0 |
|
22,746 |
|
0 |
| |||
Forward Foreign Currency Contracts - Assets |
|
0 |
|
5,159 |
|
0 |
| |||
Forward Foreign Currency Contracts - Liabilities |
|
0 |
|
(21 |
) |
0 |
| |||
Total |
|
$ |
3,016,385 |
|
$ |
27,884 |
|
$ |
0 |
|
Global Select |
|
|
|
|
|
|
| |||
Common Stocks |
|
$ |
2,125,667 |
|
$ |
0 |
|
$ |
0 |
|
Short Term Investments |
|
0 |
|
116,510 |
|
0 |
| |||
Forward Foreign Currency Contracts - Assets |
|
0 |
|
2,919 |
|
0 |
| |||
Total |
|
$ |
2,125,667 |
|
$ |
119,429 |
|
$ |
0 |
|
|
|
|
|
|
|
|
| |||
International |
|
|
|
|
|
|
| |||
Common Stocks |
|
$ |
25,606,405 |
|
$ |
0 |
|
$ |
0 |
|
Short Term Investments |
|
0 |
|
827,389 |
|
0 |
| |||
Forward Foreign Currency Contracts - Assets |
|
0 |
|
34,702 |
|
0 |
| |||
Forward Foreign Currency Contracts - Liabilities |
|
0 |
|
(212 |
) |
0 |
| |||
Total |
|
$ |
25,606,405 |
|
$ |
861,879 |
|
$ |
0 |
|
|
|
|
|
|
|
|
| |||
Intl Small Cap |
|
|
|
|
|
|
| |||
Common Stocks |
|
$ |
2,643,118 |
|
$ |
2,376 |
|
$ |
0 |
|
Short Term Investments |
|
0 |
|
106,017 |
|
0 |
| |||
Forward Foreign Currency Contracts - Assets |
|
0 |
|
5,757 |
|
0 |
| |||
Forward Foreign Currency Contracts - Liabilities |
|
0 |
|
(52 |
) |
0 |
| |||
Total |
|
$ |
2,643,118 |
|
$ |
114,098 |
|
$ |
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 as 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, 2015 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
|
|
Local |
|
|
|
|
|
Unrealized |
| ||
|
|
Contract |
|
Settlement |
|
Valuation at |
|
Appreciation/ |
| ||
|
|
Amount |
|
Date |
|
12/31/15 |
|
(Depreciation) |
| ||
Foreign Currency Bought: |
|
|
|
|
|
|
|
|
| ||
Australian Dollar |
|
10,877 |
|
03/16/16 |
|
$ |
7,895 |
|
$ |
50 |
|
|
|
|
|
|
|
$ |
7,895 |
|
$ |
50 |
|
Foreign Currency Sold: |
|
|
|
|
|
|
|
|
| ||
Australian Dollar |
|
23,389 |
|
03/16/16 |
|
$ |
16,977 |
|
$ |
748 |
|
Swiss Franc |
|
120,177 |
|
03/16/16 |
|
120,423 |
|
4,340 |
| ||
|
|
|
|
|
|
$ |
137,400 |
|
$ |
5,088 |
|
During the period ended December 31, 2015 there were no forward foreign currency contracts opened or settled for Global.
Global Select
|
|
Local |
|
|
|
|
|
Unrealized |
| ||
|
|
Contract |
|
Settlement |
|
Valuation at |
|
Appreciation/ |
| ||
|
|
Amount |
|
Date |
|
12/31/15 |
|
(Depreciation) |
| ||
Foreign Currency Sold: |
|
|
|
|
|
|
|
|
| ||
Swiss Franc |
|
80,807 |
|
03/16/16 |
|
$ |
80,972 |
|
$ |
2,919 |
|
|
|
|
|
|
|
$ |
80,972 |
|
$ |
2,919 |
|
During the period ended December 31, 2015 there were no forward foreign currency contracts opened or settled for Global Select.
International
|
|
Local |
|
|
|
|
|
Unrealized |
| ||
|
|
Contract |
|
Settlement |
|
Valuation at |
|
Appreciation/ |
| ||
|
|
Amount |
|
Date |
|
12/31/15 |
|
(Depreciation) |
| ||
Foreign Currency Bought: |
|
|
|
|
|
|
|
|
| ||
Australian Dollar |
|
127,481 |
|
03/16/16 |
|
$ |
92,536 |
|
$ |
760 |
|
|
|
|
|
|
|
$ |
92,536 |
|
$ |
760 |
|
Foreign Currency Sold: |
|
|
|
|
|
|
|
|
| ||
Australian Dollar |
|
236,628 |
|
03/16/16 |
|
$ |
171,764 |
|
$ |
7,567 |
|
Swiss Franc |
|
724,390 |
|
03/16/16 |
|
725,872 |
|
26,163 |
| ||
|
|
|
|
|
|
$ |
897,636 |
|
$ |
33,730 |
|
During the period ended December 31, 2015 there were no forward foreign currency contracts opened or settled for International.
Intl Small Cap
|
|
Local |
|
Settlement |
|
Valuation at |
|
Unrealized |
| ||
Foreign Currency Bought: |
|
|
|
|
|
|
|
|
| ||
Australian Dollar |
|
27,800 |
|
03/16/16 |
|
$ |
20,180 |
|
$ |
134 |
|
|
|
|
|
|
|
$ |
20,180 |
|
$ |
134 |
|
Foreign Currency Sold: |
|
|
|
|
|
|
|
|
| ||
Australian Dollar |
|
69,609 |
|
03/16/16 |
|
$ |
50,528 |
|
$ |
2,226 |
|
Swiss Franc |
|
92,601 |
|
03/16/16 |
|
92,790 |
|
3,345 |
| ||
|
|
|
|
|
|
$ |
143,318 |
|
$ |
5,571 |
|
During the period ended December 31, 2015 the notional value of forward foreign currency contracts opened for Intl Small Cap were $0 and the notional value of settled contracts was $7,573 (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. Each Fund may sell shares of when-issued securities. Typically, a Fund sells when-issued securities when a company announces a spin-off or re-organization, and the post-spin-off or post-re-organization shares begin trading on a when-issued basis prior to the effective date of the corporate action. A sale of a when-issued security is treated as a short sale for accounting purposes. After the effective date, when shares of the new company are received, any shares sold on a when-issued basis will be delivered to the counterparty. At December 31, 2015 none of the Funds had short sales.
When-issued or delayed-delivery securities
Each Fund may purchase securities on a when-issued or delayed-delivery basis. Although the payment and interest terms of these securities are established at the time a Fund enters into the commitment, the securities may be delivered and paid for a month or more after the date of purchase, when their value may have changed. A Fund makes such commitments only with the intention of actually acquiring the securities, but may sell the securities before the settlement date if the Adviser deems it advisable for investment reasons. At December 31, 2015 none of the Funds held when-issued securities.
Accounting for options
When a Fund writes an option, the premium received by the Fund is recorded as a liability and is subsequently adjusted to the current fair value of the option written. Premiums received from writing options that expire are recorded by the Fund on the expiration date as realized gains from option transactions. The difference between the premium and the amount paid on effecting a closing purchase transaction, including brokerage commissions, is also treated as a realized gain, or if the premium is less than the amount paid for the closing purchase transaction, as a realized loss. If a call option is exercised, the premium is added to the proceeds from the sale of the underlying security or currency in determining whether the Fund has realized a gain or a loss. If a put option is exercised, the premium reduces the cost basis of the security or currency purchased by the Fund. In writing an option, the Fund bears the market risk of an unfavorable change in the price of the security or currency underlying the written option. As the writer of a covered call option on a security, a Fund foregoes, during the options life, the opportunity to profit from increases in the market value of the security covering the call option above the sum of the premium and the exercise price of the call. Exercise of an option written by the Fund could result in the Fund selling or buying a security or currency at a price different from the current fair value. Options written by the Fund do not give rise to counterparty credit risk, as they obligate the Fund, not its counterparties, to perform.
When a Fund purchases an option, the premium paid by the Fund is recorded as an asset and is subsequently adjusted to the current fair value of the option purchased. Purchasing call options tends to increase the Funds exposure to the underlying instrument. Purchasing put options tends to decrease the Funds exposure to the underlying instrument. Premiums paid for purchasing options that expire are treated as realized losses. Premiums paid for purchasing options that are exercised or closed are added to
the amounts paid or offset against the proceeds on the underlying security to determine the realized gain or loss. The risks associated with purchasing put and call options are potential loss of the premium paid and, in the instances of OTC derivatives, the failure of the counterparty to honor its obligation under the contract.
Oakmark and Select wrote put options during the period ended December 31, 2015, as follows (in thousands):
Oakmark
|
|
Number of Contracts |
|
Premiums |
| |
Options outstanding at September 30, 2015 |
|
0 |
|
$ |
0 |
|
Options written |
|
6 |
|
16,395 |
| |
Options bought back |
|
(6 |
) |
(16,395 |
) | |
Options outstanding at December 31, 2015 |
|
0 |
|
$ |
0 |
|
Select
|
|
Number of Contracts |
|
Premiums |
| |
Options outstanding at September 30, 2015 |
|
51 |
|
$ |
12,393 |
|
Options written |
|
55 |
|
28,057 |
| |
Options expired |
|
(55 |
) |
(13,155 |
) | |
Options bought back |
|
(51 |
) |
(27,295 |
) | |
Options outstanding at December 31, 2015 |
|
0 |
|
$ |
0 |
|
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. At December 31, 2015 all of the Funds held repurchase agreements.
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. Treasuries 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, 2015 Select and Intl Small Cap had securities on loan with a value of $101,859,300 and $5,357,142, respectively, and held as collateral for the loans U.S. Treasury securities with a value of $104,908,149 and $5,678,118, respectively.
Restricted securities
Each Fund may invest in restricted securities, which generally are considered illiquid, but such illiquid securities may not comprise more than 15% of the value of a Funds net assets at the time of investment. 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, 2015 Equity and Income and International held the following restricted securities:
Equity and Income
Par Value (000) |
|
Security Name |
|
Acquisition |
|
Cost (000) |
|
Value (000) |
|
Percentage of |
| |||
|
|
|
|
|
|
|
|
|
|
|
| |||
$ |
29,500 |
|
1011778 BC ULC / New Red Finance, Inc. |
|
09/24/14 |
|
$ |
29,500 |
|
$ |
30,385 |
|
0.17 |
% |
40,360 |
|
Activision Blizzard, Inc. |
|
09/12/13 - 11/13/15 |
|
42,335 |
|
42,447 |
|
0.24 |
% | |||
122,500 |
|
Anthem, Inc. |
|
11/23/15 - 12/29/15 |
|
122,448 |
|
122,448 |
|
0.69 |
% | |||
345,000 |
|
BMW US Capital LLC |
|
11/05/15 - 12/07/15 |
|
344,953 |
|
344,953 |
|
1.96 |
% | |||
13,760 |
|
CVS Health Corp |
|
10/05/15 |
|
14,884 |
|
14,815 |
|
0.08 |
% | |||
11,450 |
|
Cabelas Master Credit Card Trust |
|
10/20/11 |
|
11,450 |
|
11,457 |
|
0.06 |
% | |||
150,000 |
|
Chevron Corp. |
|
12/01/15 - 12/23/15 |
|
149,966 |
|
149,966 |
|
0.85 |
% | |||
37,000 |
|
Credit Suisse Group AG |
|
12/04/13 - 06/11/14 |
|
37,000 |
|
38,490 |
|
0.22 |
% | |||
25,000 |
|
Credit Suisse Group Funding Guernsey, Ltd. |
|
12/07/15 |
|
24,953 |
|
24,886 |
|
0.14 |
% | |||
3,950 |
|
Dollar Tree, Inc. |
|
02/06/15 |
|
3,950 |
|
4,086 |
|
0.02 |
% | |||
23,445 |
|
Expedia, Inc. |
|
12/01/15 - 12/22/15 |
|
23,284 |
|
22,881 |
|
0.13 |
% | |||
5,590 |
|
Glencore Finance Canada, Ltd. |
|
06/01/15 - 06/02/15 |
|
5,698 |
|
5,400 |
|
0.03 |
% | |||
8,060 |
|
Glencore Funding LLC |
|
01/15/15 |
|
8,062 |
|
7,979 |
|
0.04 |
% | |||
10,000 |
|
Howard Hughes Corp. |
|
09/27/13 |
|
10,000 |
|
10,200 |
|
0.06 |
% | |||
39,400 |
|
International Game Technology PLC |
|
02/09/15 |
|
39,400 |
|
36,478 |
|
0.21 |
% | |||
100,000 |
|
J.P. Morgan Securities LLC |
|
11/02/15 - 11/04/15 |
|
99,825 |
|
99,821 |
|
0.57 |
% | |||
100,000 |
|
John Deere Capital Co. |
|
12/08/15 - 12/09/15 |
|
99,985 |
|
99,985 |
|
0.57 |
% | |||
187,570 |
|
Kellogg Co. |
|
11/17/15 - 12/15/15 |
|
187,545 |
|
187,545 |
|
1.06 |
% | |||
14,790 |
|
Level 3 Financing, Inc. |
|
04/16/15 - 10/29/15 |
|
14,800 |
|
14,709 |
|
0.08 |
% | |||
30,930 |
|
Live Nation Entertainment, Inc. |
|
08/15/12 - 01/22/15 |
|
32,141 |
|
31,913 |
|
0.18 |
% | |
2,950 |
|
MSCI, Inc. |
|
08/10/15 |
|
2,950 |
|
3,024 |
|
0.02 |
% | |
378,000 |
|
MetLife Short Term Funding LLC |
|
11/09/15 - 12/29/15 |
|
377,950 |
|
377,950 |
|
2.14 |
% | |
9,835 |
|
Omega Healthcare Investors, Inc. |
|
09/16/15 |
|
9,808 |
|
10,039 |
|
0.06 |
% | |
4,920 |
|
Penske Truck Leasing Co., LP / PTL Finance Corp. |
|
06/16/15 |
|
5,053 |
|
5,019 |
|
0.03 |
% | |
1,500 |
|
Post Holdings, Inc. |
|
03/12/14 - 08/12/15 |
|
1,546 |
|
1,544 |
|
0.01 |
% | |
29,485 |
|
Schlumberger Holdings Corp. |
|
12/10/15 |
|
29,475 |
|
29,241 |
|
0.16 |
% | |
1,970 |
|
Schlumberger Investment SA |
|
12/16/15 |
|
1,979 |
|
1,980 |
|
0.01 |
% | |
6,885 |
|
Scientific Games International, Inc. |
|
11/14/14 |
|
6,885 |
|
6,575 |
|
0.04 |
% | |
4,990 |
|
Serta Simmons Bedding LLC |
|
09/26/12 - 09/27/12 |
|
4,973 |
|
5,215 |
|
0.03 |
% | |
8,895 |
|
Sirius XM Radio, Inc. |
|
03/04/15 - 03/26/15 |
|
9,408 |
|
9,384 |
|
0.05 |
% | |
9,970 |
|
Six Flags Entertainment Corp. |
|
12/11/12 |
|
9,991 |
|
10,095 |
|
0.06 |
% | |
5,895 |
|
The Sun Products Corp. |
|
11/16/15 |
|
5,229 |
|
5,114 |
|
0.03 |
% | |
1,000 |
|
Tribune Media Co. |
|
06/17/15 |
|
1,000 |
|
1,000 |
|
0.01 |
% | |
57,474 |
|
Ultra Petroleum Corp. |
|
04/11/14 - 10/28/14 |
|
58,435 |
|
13,548 |
|
0.08 |
% | |
33,475 |
|
Valeant Pharmaceuticals International, Inc. |
|
03/13/15 - 09/25/15 |
|
34,262 |
|
31,611 |
|
0.18 |
% | |
100,000 |
|
Wal-Mart Stores, Inc. |
|
12/03/15 - 12/04/15 |
|
99,984 |
|
99,984 |
|
0.57 |
% | |
|
|
|
|
|
|
|
|
$ |
1,912,167 |
|
10.84 |
% |
International
Par Value (000) |
|
Security Name |
|
Acquisition |
|
Cost (000) |
|
Value (000) |
|
Percentage of |
| |||
|
|
|
|
|
|
|
|
|
|
|
| |||
$ |
250,000 |
|
J.P. Morgan Securities LLC |
|
09/17/15 - 12/08/15 |
|
$ |
249,486 |
|
$ |
249,533 |
|
0.94 |
% |
|
|
|
|
|
|
|
|
$ |
249,533 |
|
0.94 |
% | ||
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, 2015. 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 / |
|
Purchases |
|
Sales |
|
Dividend |
|
Value |
|
Value |
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Flowserve Corp. |
|
7,338 |
|
$ |
0 |
|
$ |
0 |
|
$ |
1,321 |
|
$ |
301,877 |
|
$ |
308,775 |
|
TOTALS |
|
|
|
$ |
0 |
|
$ |
0 |
|
$ |
1,321 |
|
$ |
301,877 |
|
$ |
308,775 |
|
Schedule of Transactions with Affiliated Issuers
International
Affiliates |
|
Shares / |
|
Purchases |
|
Sales |
|
Dividend |
|
Value |
|
Value |
| |||||
Bureau Veritas SA |
|
23,362 |
|
$ |
181,353 |
|
$ |
0 |
|
$ |
0 |
|
$ |
314,504 |
|
$ |
466,887 |
|
CNH Industrial N.V. |
|
93,721 |
|
0 |
|
0 |
|
0 |
|
610,015 |
|
645,736 |
| |||||
EXOR SPA |
|
13,318 |
|
64,078 |
|
0 |
|
0 |
|
521,020 |
|
609,192 |
| |||||
Meggitt PLC |
|
42,505 |
|
14,725 |
|
0 |
|
0 |
|
287,812 |
|
234,792 |
| |||||
Melco Crown Entertainment Ltd. |
|
28,848 |
|
47,482 |
|
12,545 |
|
491 |
|
366,900 |
|
484,639 |
| |||||
OMRON Corp. |
|
17,817 |
|
114,418 |
|
0 |
|
0 |
|
434,181 |
|
602,568 |
| |||||
Orica, Ltd. |
|
35,886 |
|
28,118 |
|
0 |
|
14,019 |
|
352,775 |
|
405,332 |
| |||||
Prada SPA |
|
132,274 |
|
14,145 |
|
0 |
|
0 |
|
489,101 |
|
411,327 |
| |||||
SKF AB |
|
24,358 |
|
0 |
|
0 |
|
0 |
|
447,292 |
|
395,892 |
| |||||
Smiths Group PLC |
|
22,771 |
|
0 |
|
0 |
|
9,826 |
|
346,190 |
|
315,380 |
| |||||
TOTALS |
|
|
|
$ |
464,319 |
|
$ |
12,545 |
|
$ |
24,336 |
|
$ |
4,169,790 |
|
$ |
4,571,745 |
|
Schedule of Transactions with Affiliated Issuers
Intl Small Cap
Affiliates |
|
Shares / |
|
Purchases |
|
Sales |
|
Dividend |
|
Value |
|
Value |
| |||||
Atea ASA |
|
7,741 |
|
$ |
0 |
|
$ |
0 |
|
$ |
3,110 |
|
$ |
71,149 |
|
$ |
64,275 |
|
Ichiyoshi Securities Co., Ltd. |
|
2,221 |
|
0 |
|
0 |
|
18 |
|
19,125 |
|
20,622 |
| |||||
Konecranes OYJ |
|
3,381 |
|
2,845 |
|
0 |
|
0 |
|
81,679 |
|
84,139 |
| |||||
LSL Property Services PLC |
|
10,416 |
|
0 |
|
0 |
|
0 |
|
53,966 |
|
43,762 |
| |||||
Outotec OYJ |
|
9,337 |
|
0 |
|
0 |
|
0 |
|
34,491 |
|
34,499 |
| |||||
Premier Farnell PLC |
|
22,425 |
|
0 |
|
4,409 |
|
0 |
|
39,762 |
|
32,398 |
| |||||
Primary Health Care Ltd. |
|
29,491 |
|
17,891 |
|
0 |
|
0 |
|
59,081 |
|
50,287 |
| |||||
Saft Groupe SA |
|
1,661 |
|
3,827 |
|
0 |
|
0 |
|
49,634 |
|
50,702 |
| |||||
Wajax Corp. |
|
1,162 |
|
2,970 |
|
0 |
|
212 |
|
15,772 |
|
14,099 |
| |||||
TOTALS |
|
|
|
$ |
27,533 |
|
$ |
4,409 |
|
$ |
3,340 |
|
$ |
424,659 |
|
$ |
394,783 |
|
3. FEDERAL INCOME TAXES
At December 31, 2015 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 |
|
$ |
13,494,489 |
|
$ |
4,102,572 |
|
$ |
(524,312 |
) |
$ |
3,578,260 |
|
Select |
|
4,337,930 |
|
1,638,538 |
|
(151,573 |
) |
1,486,965 |
| ||||
Equity and Income |
|
14,433,553 |
|
3,483,165 |
|
(328,384 |
) |
3,154,781 |
| ||||
Global |
|
2,641,622 |
|
548,853 |
|
(151,344 |
) |
397,509 |
| ||||
Global Select |
|
2,129,408 |
|
241,949 |
|
(129,180 |
) |
112,769 |
| ||||
International |
|
28,173,764 |
|
1,583,055 |
|
(3,323,025 |
) |
(1,739,970 |
) | ||||
Intl Small Cap |
|
3,019,157 |
|
225,746 |
|
(493,392 |
) |
(267,646 |
) | ||||
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, 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 23, 2016 |
|
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, 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 23, 2016 |
|
|
|
|
|
|
|
By: |
/s/ John J. Kane |
|
|
John J. Kane |
|
|
Principal Financial Officer |
|
Date: |
February 23, 2016 |
|
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 23, 2016
/s/ Kristi L. Rowsell |
|
Kristi L. Rowsell |
|
Principal Executive Officer |
|
Exh. (a)(2)
I, John J. Kane, 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 23, 2016
/s/ John J. Kane |
|
John J. Kane |
|
Principal Financial Officer |
|
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end