Here’s Why Oakmark Funds Sold its MGM Resorts (MGM) Stake

Oakmark Funds, an investment management firm, published its “Oakmark Fund” second quarter 2021 investor letter – a copy of which can be seen here.  A return of 8.9% was reported by the fund in the Q2 of 2021, outperforming its benchmark by 25 percentage points. You can take a look at the fund’s top 5 holdings to have an idea about their top bets for 2021.

In the Q2 2021 investor letter of Oakmark Funds, the fund mentioned MGM Resorts International (NYSE: MGM) and discussed its...