oakmarkI - Data through Oakmark I Governance and Management...

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Governance and Management Stewardship Grade: Portfolio Manager(s) Bill Nygren has worked for Harris Associates, advisor to the Oakmark funds, for two decades. He makes the final decisions about the portfolio, and he has also run Oakmark Select with aplomb. Comanager Kevin Grant, a former analyst at the firm, has run the fund with Nygren since March 2000, when former manager Robert Sanborn was pushed out. Strategy This traditionally was one of the purest value funds around, but manager Bill Nygren has found more fallen growth stocks that meet his valuation criteria. He buys stocks that are trading at discounts to their estimated private market values. To estimate companies' intrinsic values, Nygren and his colleagues use discounted cash-flow analysis and look at comparable transactions, among many other factors. The fund has migrated from its former mid-cap home into large-cap territory, as many of Nygren's recent purchases have fallen into the latter area. NAV 36.98 37.04 25.75 40.37 45.92 40.88 41.77 37.54 30.08 35.27 29.99 27.20 Total Return % -0.16 44.77 -32.61 -3.64 18.26 -1.31 11.73 25.30 -14.41 18.29 11.78 -10.47 +/-S&P 500 -0.05 18.31 4.39 -9.13 2.47 -6.22 0.85 -3.38 7.69 30.18 20.88 -31.51 +/-Russ 1000 -0.27 16.34 4.99 -9.41 2.80 -7.58 0.33 -4.59 7.24 30.74 19.57 -31.38 Income Return % 0.00 0.90 1.12 1.21 1.06 0.83 0.45 0.47 0.32 0.66 1.42 0.73 Capital Return % -0.16 43.87 -33.73 -4.85 17.20 -2.14 11.28 24.83 -14.73 17.63 10.36 -11.20 Total Rtn % Rank Cat 33 4 12 96 6 98 64 74 17 13 73 98 Income $ 0.00 0.23 0.45 0.56 0.43 0.35 0.17 0.14 0.11 0.20 0.39 0.26 Capital Gains $ 0.00 0.00 0.99 3.42 2.00 0.00 0.00 0.00 0.00 0.00 0.00 4.73 Expense Ratio % 1.23 1.10 1.01 1.05 1.03 1.05 1.14 1.17 1.15 1.21 1.11 Income Ratio % 1.06 1.17 1.01 0.94 0.79 0.47 0.48 0.38 0.73 1.42 1.02 Turnover Rate % 62 32 12 9 16 19 21 44 57 50 13 Net Assets $mil 3,416 3,393 2,536 4,948 5,947 6,102 7,156 5,509 3,789 3,644 2,206 3,818 Performance 07-31-10 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Total 2006 2007 2008 2009 2010 3.82 -0.35 5.56 8.30 18.26 -0.26 6.35 -2.94 -6.41 -3.64 -7.36 -4.22 -1.42 -22.95 -32.61 -9.59 23.24 20.43 7.89 44.77 6.21 -11.08 Trailing Total +/- +/- Russ %Rank Growth of Return% S&P 500 1000 Cat $10,000 3 Mo 6 Mo 1 Yr 3 Yr Avg 5 Yr Avg 10 Yr Avg 15 Yr Avg -8.87 -2.18 -1.86 92 9,113 3.59 -0.02
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