Oakmark International Small Cap Fund’s Q2 2026 Investor Letter

Harris Oakmark recently released its second-quarter 2026 investor letter for the “Oakmark International Small Cap Fund”. The fund focuses on long-term capital appreciation by investing in small-cap companies located outside the U.S. In the quarter, the fund (Investor Class) delivered a return of 4.82%, trailing the benchmark, the MSCI World ex USA Index’s 7.94 % return. Information technology and industrials were the top performance contributors at the sector level, while consumer staples and materials were the largest detractors. Enthusiasm for AI continued to be the defining market theme. The firm focuses on evaluating companies based on their competitive advantages, long-term cash flow potential, and valuation, instead of prediction relative to intrinsic value. In addition, you can check the Fund’s top five holdings to determine its best picks for 2026.

A copy of Oakmark International Small Cap Fund’s Q2 2026 investor letter can be downloaded here.