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What Makes Union Pacific (UNP) an Investment Bet?

Oakmark Funds, advised by Harris Associates, released its “Oakmark Fund” third-quarter 2025 investor letter. A copy of the letter can be downloaded here. In the third 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 energy, 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 third-quarter 2025 investor letter, Oakmark Fund highlighted stocks...