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Multiple Factors Pulled Down Global Payments (GPN) in Q2

Oakmark Funds, advised by Harris Associates, released its “Oakmark Fund” second quarter 2025 investor letter. A copy of the letter can be downloaded here. In the second quarter, the fund underperformed its benchmark, the S&P 500 Index, but outperformed the benchmark since inception. The largest contributors to performance were financials and consumer discretionary, at the sector level, while health care and consumer staples detracted. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2025.

In its second quarter 2025 investor letter, Oakmark Fund...