Investment objective & strategy
As of April 25, 2025 · prospectusObjective. Long-term capital appreciation.
Strategy. Harris Associates L.P. (Harris or Subadviser), subadviser to the Portfolio, invests the Portfolios assets, under normal circumstances, primarily in common stocks of non-U.S. companies. The Portfolio may invest in non-U.S. markets throughout the world, including emerging markets. Ordinarily, the Portfolio will invest in the securities of at least five countries outside the U.S. There are no geographic limits on the Portfolios foreign investments, but the Portfolio does not expect to invest more than 35% of its assets in securities of companies based in emerging markets. The Portfolio invests primarily in mid- to large-cap companies. The Portfolio may, from time to time, emphasize one or more sectors. The Portfolio may engage in foreign currency transactions for hedging purposes. Harris uses a … Harris Associates L.P. (Harris or Subadviser), subadviser to the Portfolio, invests the Portfolios assets, under normal circumstances, primarily in common stocks of non-U.S. companies. The Portfolio may invest in non-U.S. markets throughout the world, including emerging markets. Ordinarily, the Portfolio will invest in the securities of at least five countries outside the U.S. There are no geographic limits on the Portfolios foreign investments, but the Portfolio does not expect to invest more than 35% of its assets in securities of companies based in emerging markets. The Portfolio invests primarily in mid- to large-cap companies. The Portfolio may, from time to time, emphasize one or more sectors. The Portfolio may engage in foreign currency transactions for hedging purposes. Harris uses a value investment style in selecting equity securities for the Portfolio. Harris believes that over time, a companys stock price will converge with Harriss estimate of the companys intrinsic value. By intrinsic value Harris means an estimate of the price a knowledgeable buyer would pay to acquire the entire business. Harris believes that investing in equity securities priced significantly below what Harris believes is a companys intrinsic value presents the best opportunity to achieve the Portfolios investment objective. Harris uses this value investment philosophy to identify companies that have discounted stock prices compared to what Harris believes are the companies intrinsic values.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| FIXED INC CLEARING CORP.REPO | — | $71.77M | 3.87% |
| ADIDAS AG | — | $53.52M | 2.88% |
| BNP PARIBAS | — | $52.35M | 2.82% |
| SUNBELT RENTALS | — | $50.84M | 2.74% |
| RECKITT BENCKISE | — | $44.22M | 2.38% |
| DSV PANALPINA A S | DSV | $42.57M | 2.29% |
| SYMRISE AG COMMON STOCK | SY1 | $42.27M | 2.28% |
| Common Stock | BMW | $41.64M | 2.24% |
| ACCOR SA | — | $40.47M | 2.18% |
| LVMH MOET HENNESSY LOUIS VUITTON SE | MC | $39.97M | 2.15% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Natixis Oakmark International Fund · NOIAX, NOICX, NIOTX, NIONX, NOIYX | 95% | 0.85% |
| Oakmark International Fund · OAKIX, OANIX, OAYIX, OAZIX | 94% | 0.76% |
| Oakmark International Large Cap ETF · OAKI | 70% | 0.65% |
Advisers
| Firm | Role |
|---|---|
| Harris Associates L.P. | Sub-adviser |
| Brighthouse Investment Advisers, LLC | Adviser |
Footnotes
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
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