Morningstar® Investment Profile™   Morningstar®
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Oakmark International Small Cap Investor  OAKEX
Release date as of 2019-10-31. Data on page is subject to change.
Snapshot Total Returns Ratings & Risk Portfolio Nuts & Bolts
  Morningstar Report
Overall Morningstar
What is this?
As of 2019-10-31
Out of 94
Foreign Small/Mid Blend Funds
Style Box™
What is this?
As of 2019-09-30
Total Fund Assets ($ Mil)
View Historical Morningstar Star Ratings and Definitions
  Investment Objective & Strategy  
The investment seeks long-term capital appreciation.
The fund invests primarily in a diversified portfolio of common stocks of non-U.S. companies. It invests at least 80% of its net assets (plus any borrowings for investment purposes) in the stocks of "small cap companies." A small cap company is one whose market capitalization is no greater than the largest market capitalization of any company included in the S&P EPAC (Europe Pacific Asia Composite) Small Cap Index. The fund may invest in non-U.S. markets throughout the world, including emerging markets. It will invest in the securities of at least five countries outside the U.S.
  Morningstar Category: Foreign Small/Mid Blend
Foreign small/mid-blend portfolios invest in a variety of international stocks that are smaller. These portfolios primarily invest in stocks that fall in the bottom 30% of each economically integrated market (such as Europe or Asia ex-Japan). The blend style is assigned to portfolios where neither growth nor value characteristics predominate. These portfolios typically will have less than 20% of assets invested in U.S. stocks. 
Growth of $10,000
(from 2009-01-01 to 2019-10-31)
Investment: Oakmark International Small Cap Investor
Benchmark 1: MSCI ACWI Ex USA NR USD
Benchmark 2: MSCI World Ex USA SMID NR USD
Category: Foreign Small/Mid Blend
This graph presents historical performance for the investment as well as an index and/or peer group. If the investment, index and/or peer group have performed similarly, the line representing the fund will overlay the index and/or peer group. Therefore, the line(s) representing the index and/or peer group history may be hidden.
Total Annualized Returns %
YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Investment 22.23 10.77 6.91 4.43 6.29 8.79
MSCI ACWI Ex USA NR USD 15.45 11.27 8.07 3.82 4.94 ---
MSCI World Ex USA SMID NR USD 17.85 9.77 8.15 6.05 7.02 ---
Category 14.91 7.02 6.87 5.15 7.12 8.42
Morningstar Rating --- --- ---
# of compared Foreign Small/Mid Blend funds covered (3 yrs : out of 94 funds) (5 yrs : out of 69 funds) (10 yrs : out of 55 funds)
Ratings reflect risk-adjusted performance and are derived from a weighted average of the performance figures associated with its three, five and ten-year (if applicable) time periods.
Investment results shown represent historical performance and do not guarantee future results. Investment returns and principal values fluctuate with changes in interest rates and other market conditions so the value, when redeemed may be worth more or less than original costs. Current performance may be lower or higher than the performance data shown.
Fees and Expenses
Total Annual Operating Expense 1.36%
Prospectus Net Expense Ratio 1.36%
Maximum Sales Charge ---
The total annual operating expense shown is before management fee waivers or expense caps. For more information on waivers/reimbursements, please see the prospectus. The total annual operating expense is also referred to as the prospectus gross expense ratio.
Waiver Data
Type Date %
--- --- --- ---
  Portfolio Profile
Asset Allocation
% of Net Assets
Bullet U.S. Stocks U.S. Stocks 0.0
Bullet Non-U.S. Stocks Non-U.S. Stocks 96.3
Bullet Bonds Bonds 0.0
Bullet Cash Cash 3.7
Bullet Other Other 0.0
Asset Allocation Rescaled Graph
Data through 2019-09-30
Morningstar Equity Sectors
% of Stocks
Cyclical 38.32
Basic Materials 5.49
Consumer Cyclical 13.35
Financial Services 18.26
Real Estate 1.22
Sensitive 51.14
Communication Services 2.06
Energy 0.00
Industrials 39.20
Technology 9.88
Defensive 10.54
Consumer Defensive 4.76
Healthcare 5.78
Utilities 0.00
Data through 2019-09-30
Morningstar World Regions
% Fund
Americas 7.9
North America 2.9
Latin America 5.0
Greater Europe 70.0
United Kingdom 23.7
Europe Developed 46.4
Europe Emerging 0.0
Africa/Middle East 0.0
Greater Asia 22.1
Japan 4.6
Australasia 8.4
Asia Developed 5.6
Asia Emerging 3.6
Data through 2019-09-30
Holding Status
Total Number of Stock Holdings 60
Total Number of Bond Holdings 0
% of Net Assets in Top 10 Holdings 30.42
Turnover % (as of 2018-09-30) 45.00
30 Day SEC Yield % 3.21
Top Holdings
Sector Country % of Net
Konecranes Oyj Finland 3.81
Julius Baer Gruppe AG Switzerland 3.76
Duerr AG Germany 3.54
BNK Financial Group Inc South Korea 3.28
Atea ASA Norway 2.81
Incitec Pivot Ltd Australia 2.73
ISS A/S Denmark 2.68
Pirelli & C SpA Ordinary Shares Italy 2.66
Azimut Holding SPA Italy 2.59
Controladora Vuela Compania de Aviacion SAB de CV ADR A Mexico 2.56
Data through 2019-09-30
  Principal Risks   
Emerging Markets, Foreign Securities, Long-Term Outlook and Projections, Loss of Money, Not FDIC Insured, Capitalization, Value Investing, Market/Market Volatility, Equity Securities, Restricted/Illiquid Securities, Portfolio Diversification, Small Cap
Show Risk Definitions
  Other Information
Inception Date: 1995-11-01
Portfolio Manager(s)
Michael L. Manelli   (2011-05-11)
Michael Manelli joined Harris Associates in 2005 and has been in the investment industry since 2001. He is a Portfolio Manager and a Senior Investment Analyst on the International Research Team at Harris Associates. Previously, he worked as a research associate/analyst at Morgan Stanley. Mr. Manelli holds a BBA from the University of Iowa and is a CFA® charterholder.
Justin D Hance   (2016-11-30)
David G. Herro   (1995-11-01)
David Herro is the Chief Investment Officer – International Equities at Harris Associates L.P. and serves as a Deputy Chairman and a Portfolio Manager of a number of Oakmark funds. Mr. Herro has been managing international portfolios since 1986, previously managing international portfolios for The State of Wisconsin Investment Board and The Principal Financial Group. Mr. Herro, who joined Harris Associates in 1992, holds a BS in business and economics from the University of Wisconsin – Platteville (1983) and an MA in economics from the University of Wisconsin – Milwaukee (1985).
Investment Advisor(s)
Harris Associates L.P.
Show Data Definitions

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Past performance is no guarantee of future results.
Returns will vary and shares may be worth more or less than their original cost when sold.