The Oakmark Funds have posted their quarterly letters to shareholders.
Oakmark Select's managers, William Nygren, Anthony Coniaris and Win Murray, wrote that they believe stocks remain relatively undervalued despite the recent market rally and that stocks are considerably undervalued when compared to bonds. For the quarter, the fund gained 8 percent, trailing the S&P 500's 11 percent return.
Oakmark Global also gained 8 percent for the quarter, in line with global stock indexes.
To read the full quarterly letter from Oakmark Select, click here.
To read the fully quarterly letter from Oakmark Global, click here.
Both funds are components of the Bradway Strategic Portfolio, which consists primarily of investments with top money managers.
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