Oakmark Funds, advised by Harris Associates, released its “Oakmark Global Select Fund” first quarter 2024 investor letter. A copy of the same can be downloaded here. The fund returned 2.95% in the quarter compared to an 8.88% Return for the MSCI World Index (net). The fund generated an average of 7.60% per year since its inception in October 2006, outperforming the index’s 7.42% return over the same period. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.
Oakmark Global Select Fund featured stocks Fiserv, Inc. (NYSE:FI) in the first quarter 2024 investor letter. Headquartered in Milwaukee, Wisconsin, Fiserv, Inc. (NYSE:FI) offers payment and financial services technology. On April 5, 2024, Fiserv, Inc. (NYSE:FI) stock closed at $157.38 per share. One-month return of Fiserv, Inc. (NYSE:FI) was 5.10%, and its shares gained 38.40% of their value over the last 52 weeks. Fiserv, Inc. (NYSE:FI) has a market capitalization of $92.66 billion.
Oakmark Global Select Fund stated the following regarding Fiserv, Inc. (NYSE:FI) in its first quarter 2024 investor letter:
“Fiserv, Inc. (NYSE:FI) was a top contributor during the quarter. The company is a leader in merchant acquiring, issuer processing services, and core banking software. During the time we have held the stock, Fiserv, under the leadership of CEO Frank Bisignano, has delivered peer-leading organic growth, meaningful margin expansion, and mid-teens earnings-per-share growth. We believe the company can deliver similarly impressive results over the medium term, yet today the shares still trade at a meaningful discount to the S&P 500 Index. We believe that Fiserv is performing well and remains an attractive investment.”
A businessperson checking their laptop, highlighting the company’s integration of technology across its banking and financial services.
Fiserv, Inc. (NYSE:FI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Fiserv, Inc. (NYSE:FI) was held by 73 hedge fund portfolios, compared to 70 in the previous quarter, according to our database.
We discussed Fiserv, Inc. (NYSE:FI) in another article and shared the list of stocks Billionaires Mario Gabelli and Mason Hawkins love. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
