# EDGAR Filing Document

**Accession Number:** 0000872323
**File Stem:** 0001410368-26-018105
**Filing Date:** 2026-2
**Character Count:** 126875
**Document Hash:** 5aaa4866877468e6d80dd3518570be7d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-018105.hdr.sgml**: 20260225

**ACCESSION NUMBER**: 0001410368-26-018105

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260225

**DATE AS OF CHANGE**: 20260225

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HARRIS ASSOCIATES INVESTMENT TRUST
- **CENTRAL INDEX KEY:** 0000872323

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06279
- **FILM NUMBER:** 26678759

**BUSINESS ADDRESS:**
- **STREET 1:** HARRIS ASSOCIATES LP
- **STREET 2:** 111 S. WACKER DRIVE, SUITE 4600
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 8004769625

**MAIL ADDRESS:**
- **STREET 1:** HARRIS ASSOCIATES LP
- **STREET 2:** 111 S. WACKER DRIVE, SUITE 4600
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606

## Series and Classes Contracts Data

### Oakmark Select Fund (Series ID: S000002759)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000007556 | Investor Class      | OAKLX           |
| C000174797 | Advisor Class       | OAYLX           |
| C000174798 | Institutional Class | OANLX           |
| C000225885 | R6 Class            | OAZLX           |

## Nport-Ex

---

| | |
|:---|:---|
| **Oakmark Fund** | **December 31, 2025 (Unaudited)** |
| ***Schedule of Investments (in thousands)*** |  |

---

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **COMMON STOCKS – 94.2%** |  |  |
| **FINANCIALS – 32.6%** |  |  |
| **FINANCIAL SERVICES – 18.0%** |  |  |
| Intercontinental Exchange, Inc. | 4096 | $663421 |
| Capital One Financial Corp. | 2696 | 653403 |
| Ally Financial, Inc. | 13826 | 626174 |
| Charles Schwab Corp. | 5763 | 575789 |
| Global Payments, Inc. | 5429 | 420189 |
| Carlyle Group, Inc. | 6687 | 395280 |
| State Street Corp. | 2902 | 374348 |
| Nasdaq, Inc. | 3722 | 361547 |
| Fiserv, Inc. (a) (b) | 4859 | 326386 |
| Corebridge Financial, Inc. | 7780 | 234723 |
|  |  | 4631260 |
| **BANKS – 8.1%** |  |  |
| Citigroup, Inc. | 5574 | 650407 |
| First Citizens BancShares, Inc., Class A | 297 | 636342 |
| Bank of America Corp. | 7412 | 407655 |
| Wells Fargo & Co. | 4086 | 380815 |
|  |  | 2075219 |
| **INSURANCE – 6.5%** |  |  |
| Willis Towers Watson PLC | 2007 | 659500 |
| American International Group, Inc. | 7136 | 610488 |
| Reinsurance Group of America, Inc. | 1959 | 398584 |
|  |  | 1668572 |
|  |  | 8375051 |
| **HEALTH CARE – 11.9%** |  |  |
| **HEALTH CARE EQUIPMENT & SERVICES – 6.9%** |  |  |
| Elevance Health, Inc. | 1784 | 625381 |
| Zimmer Biomet Holdings, Inc. | 5692 | 511851 |
| GE HealthCare Technologies, Inc. | 6176 | 506555 |
| Baxter International, Inc. | 6300 | 120393 |
|  |  | 1764180 |
| **PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES – 5.0%** |  |  |
| Merck & Co., Inc. | 6452 | 679138 |
| IQVIA Holdings, Inc. (a) | 2709 | 610703 |
|  |  | 1289841 |
|  |  | 3054021 |
| **INDUSTRIALS – 11.2%** |  |  |
| **CAPITAL GOODS – 5.3%** |  |  |
| AerCap Holdings NV | 2900 | 416904 |
| Deere & Co. | 774 | 360496 |
| Masco Corp. | 4576 | 290418 |
| Fortune Brands Innovations, Inc. | 5673 | 283778 |
|  |  | 1351596 |
| **TRANSPORTATION – 4.0%** |  |  |
| Delta Air Lines, Inc. | 8904 | 617945 |
| Union Pacific Corp. | 1829 | 423084 |
|  |  | 1041029 |
| **COMMERCIAL & PROFESSIONAL SERVICES – 1.9%** |  |  |
| Equifax, Inc. | 2311 | 501376 |
|  |  | 2894001 |
| **ENERGY – 10.5%** |  |  |
| ConocoPhillips | 7672 | 718138 |
| Targa Resources Corp. | 3782 | 697779 |
| Phillips 66 | 4452 | 574538 |
| EOG Resources, Inc. | 3036 | 318838 |
| Marathon Petroleum Corp. | 1644 | 267364 |
| APA Corp. | 5102 | 124800 |
|  |  | 2701457 |
| **CONSUMER DISCRETIONARY – 8.5%** |  |  |
| **CONSUMER SERVICES – 2.7%** |  |  |
| Airbnb, Inc., Class A (a) | 5169 | 701537 |
| **AUTOMOBILES & COMPONENTS – 2.2%** |  |  |
| General Motors Co. | 6743 | 548349 |
| **CONSUMER DISCRETIONARY DISTRIBUTION & RETAIL – 1.9%** |  |  |
| Amazon.com, Inc. (a) | 1155 | 266597 |
| Genuine Parts Co. | 1775 | 218254 |
|  |  | 484851 |
| **CONSUMER DURABLES & APPAREL – 1.7%** |  |  |
| NIKE, Inc., Class B | 6972 | 444154 |
|  |  | 2178891 |
| **COMMUNICATION SERVICES – 7.2%** |  |  |
| **MEDIA & ENTERTAINMENT – 7.2%** |  |  |
| Alphabet, Inc., Class A (b) | 1901 | 595075 |
| Warner Bros. Discovery, Inc. (a) | 19427 | 559872 |
| Comcast Corp., Class A | 10336 | 308946 |
| Charter Communications, Inc., Class A (a) | 1344 | 280605 |
| Liberty Broadband Corp., Class C (a) | 2170 | 105462 |
|  |  | 1849960 |
| **INFORMATION TECHNOLOGY – 4.3%** |  |  |
| **SOFTWARE & SERVICES – 2.6%** |  |  |
| Salesforce, Inc. | 2519 | 667308 |
| **TECHNOLOGY HARDWARE & EQUIPMENT – 1.7%** |  |  |
| CDW Corp. | 1917 | 261068 |
| TE Connectivity PLC | 825 | 187797 |
|  |  | 448865 |
|  |  | 1116173 |
| **MATERIALS – 3.7%** |  |  |
| Corteva, Inc. | 8032 | 538365 |
| Amrize Ltd. (a) | 5598 | 302740 |
| Celanese Corp. | 2700 | 114156 |
|  |  | 955261 |
| **CONSUMER STAPLES – 3.3%** |  |  |
| **FOOD, BEVERAGE & TOBACCO – 3.3%** |  |  |
| Keurig Dr. Pepper, Inc. | 22431 | 628284 |

---

**OAKMARK FUNDS**

---

| | |
|:---|:---|
| **Oakmark Fund** | **December 31, 2025 (Unaudited)** |
| ***Schedule of Investments (in thousands)*** |  |

---

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **COMMON STOCKS – 94.2% *(cont.)*** |  |  |
| **CONSUMER STAPLES – 3.3% *(cont.)*** |  |  |
| **FOOD, BEVERAGE & TOBACCO – 3.3% *(cont.)*** |  |  |
| Constellation Brands, Inc., Class A | 1624 | $224047 |
|  |  | 852331 |
| **REAL ESTATE – 1.0%** |  |  |
| **REAL ESTATE MANAGEMENT & DEVELOPMENT – 1.0%** |  |  |
| CBRE Group, Inc., Class A (a) | 1535 | 246813 |
| **TOTAL COMMON STOCKS – 94.2%** |  |  |
| **(Cost $18,753,956)** |  | **24223959** |
| **TOTAL PURCHASED OPTIONS – 0.0% (c)** |  |  |
| **(Premiums Paid $11,616)** |  | **3335** |

---

---

| | | |
|:---|:---|:---|
|  | Par Value | Value |
| **SHORT-TERM INVESTMENTS – 5.8%** |  |  |
| **REPURCHASE AGREEMENT – 5.8%** |  |  |
| Fixed Income Clearing Corp. Repurchase Agreement, 3.80% dated 12/31/25 due 1/2/26, repurchase price $1,479,507, collateralized by a United States Treasury Note, 3.750% due 6/30/27, value plus accrued interest of $1,508,778 (Cost: $1,479,194) | $1479194 | 1479194 |
| **TOTAL SHORT-TERM INVESTMENTS – 5.8%** |  |  |
| **(Cost $1,479,194)** |  | **1479194** |
| **TOTAL INVESTMENTS – 100.0%<br> (Cost $20,244,766)** |  | **25706488** |
| Liabilities In Excess of Other Assets – 0.0% (c) |  | (3581) |
| **TOTAL NET ASSETS – 100.0%** |  | $**25702907** |

---

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **COMMON STOCK SOLD SHORT – 0.0% (c)** |  |  |
| **COMMUNICATION SERVICES – 0.0% (c)** |  |  |
| **REAL ESTATE MANAGEMENT & DEVELOPMENT – 0.0% (c)** |  |  |
| Versant Media Group, Inc. (a) (d) | (15) | (666) |
| **TOTAL COMMON STOCKS SOLD SHORT – 0.0% (c)** |  |  |
| &nbsp;&nbsp;&nbsp;**(Proceeds $(706))** |  | **(666)** |

---

(a) Non-income
 producing security.

(b) All
 or a portion of this investment is held in connection with one or more options within the
 Fund.

(c) Amount
 rounds to less than 0.1%.

(d) Security
 is when-issued and has been sold in advance of receipt. Under GAAP, it is deemed to be a
 short sale. Please refer to the Short Sales section in the Notes to the Financials.

***Oakmark.com***

---

| | |
|:---|:---|
| **Oakmark Fund** | **December 31, 2025 (Unaudited)** |
| ***Schedule of Investments (in thousands)*** |  |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **PURCHASED OPTIONS** | **PURCHASED OPTIONS** | **PURCHASED OPTIONS** | **PURCHASED OPTIONS** | **PURCHASED OPTIONS** | **PURCHASED OPTIONS** | | |
| **Description** | **Exercise <br> Price** | **Expiration <br> Date** | **Number of<br> Contracts** | **Notional<br> Amount***<br> (in thousands)*** | **Market <br> Value<br> ***(in thousands)*** |<br>**Premiums <br> Paid<br> ***(in thousands)*** |<br>**Unrealized <br> Gain/(Loss)<br> ***(in thousands)*** |
| &nbsp;&nbsp;&nbsp;**CALLS** |  |  |  |  |  |  |  |
| Fiserv, Inc. | $70.00 | 1/16/26 | 46000 | $308982 | $3335 | $11616 | $(8281) |
|  |  |  |  | $308982 | $3335 | $11616 | $(8281) |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **WRITTEN OPTIONS** | **WRITTEN OPTIONS** | **WRITTEN OPTIONS** | **WRITTEN OPTIONS** | **WRITTEN OPTIONS** | **WRITTEN OPTIONS** | **WRITTEN OPTIONS** | |
| **Description** | **Exercise <br> Price** | **Expiration <br> Date** | **Number of<br> Contracts** | **Notional<br> Amount***<br> (in thousands)*** | **Market <br> Value***<br> (in thousands)*** | **Premiums<br> (Received)<br> ***(in thousands)*** |<br>**Unrealized<br> Gain/(Loss)<br> ***(in thousands)*** |
| &nbsp;&nbsp;&nbsp;**CALLS** |  |  |  |  |  |  |  |
| Alphabet, Inc., Class A | $320.00 | 2/20/26 | (4000) | $(125200) | $(5410) | $(9320) | $3910 |
|  |  |  |  | $(125200) | $(5410) | $(9320) | $3910 |
| &nbsp;&nbsp;&nbsp;**PUTS** |  |  |  |  |  |  |  |
| Fiserv, Inc. | $65.00 | 1/16/26 | (87000) | $(584379) | $(5872) | $(15441) | $9569 |
|  |  |  |  | $(584379) | $(5872) | $(15441) | $9569 |

---

**OAKMARK FUNDS**

---

| | |
|:---|:---|
| **Oakmark Select Fund** | **December 31, 2025 (Unaudited)** |
| ***Schedule of Investments (in thousands)*** |  |

---

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **COMMON STOCKS – 95.3%** |  |  |
| **FINANCIALS – 23.5%** |  |  |
| **FINANCIAL SERVICES – 16.5%** |  |  |
| Intercontinental Exchange, Inc. | 2512 | $406820 |
| Capital One Financial Corp. | 1435 | 347810 |
| Charles Schwab Corp. | 3229 | 322633 |
| Ally Financial, Inc. | 6048 | 273905 |
|  |  | 1351168 |
| **BANKS – 7.0%** |  |  |
| First Citizens BancShares, Inc., Class A | 266 | 570910 |
|  |  | 1922078 |
| **HEALTH CARE – 15.4%** |  |  |
| **PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES – 10.6%** |  |  |
| IQVIA Holdings, Inc. (a) | 2106 | 474803 |
| Charles River Laboratories International, Inc. (a) | 1004 | 200278 |
| ICON PLC (a) | 1049 | 191149 |
|  |  | 866230 |
| **HEALTH CARE EQUIPMENT & SERVICES – 4.8%** |  |  |
| Centene Corp. (a) | 5864 | 241304 |
| Molina Healthcare, Inc. (a) | 867 | 150459 |
|  |  | 391763 |
|  |  | 1257993 |
| **ENERGY – 11.2%** |  |  |
| Phillips 66 | 2323 | 299721 |
| ConocoPhillips | 2745 | 256952 |
| Targa Resources Corp. | 1186 | 218817 |
| APA Corp. | 5605 | 137103 |
|  |  | 912593 |
| **INDUSTRIALS – 10.2%** |  |  |
| **COMMERCIAL & PROFESSIONAL SERVICES – 7.2%** |  |  |
| Paycom Software, Inc. | 1975 | 314688 |
| Equifax, Inc. | 1271 | 275782 |
|  |  | 590470 |
| **CAPITAL GOODS – 3.0%** |  |  |
| Deere & Co. | 526 | 244750 |
|  |  | 835220 |
| **COMMUNICATION SERVICES – 10.1%** |  |  |
| **MEDIA & ENTERTAINMENT – 10.1%** |  |  |
| Warner Bros. Discovery, Inc. (a) (b) | 17572 | 506425 |
| Alphabet, Inc., Class A (b) | 1028 | 321864 |
|  |  | 828289 |
| **CONSUMER DISCRETIONARY – 10.0%** |  |  |
| **CONSUMER DISCRETIONARY DISTRIBUTION & RETAIL – 5.3%** |  |  |
| Lithia Motors, Inc. (c) | 1309 | 435053 |
| **CONSUMER SERVICES – 4.7%** |  |  |
| Airbnb, Inc., Class A (a) | 2805 | 380681 |
|  |  | 815734 |
| **INFORMATION TECHNOLOGY – 5.9%** |  |  |
| **SOFTWARE & SERVICES – 5.9%** |  |  |
| Salesforce, Inc. | 1817 | 481342 |
| **CONSUMER STAPLES – 5.7%** |  |  |
| **FOOD, BEVERAGE & TOBACCO – 5.7%** |  |  |
| Keurig Dr. Pepper, Inc. | 16566 | 464002 |
| **REAL ESTATE – 3.3%** |  |  |
| **REAL ESTATE MANAGEMENT & DEVELOPMENT – 3.3%** |  |  |
| CBRE Group, Inc., Class A (a) | 1690 | 271695 |
| **TOTAL COMMON STOCKS – 95.3%** |  |  |
| **(Cost $5,740,265)** |  | **7788946** |

---

---

| | | |
|:---|:---|:---|
|  | Par Value | Value |
| **SHORT-TERM INVESTMENTS – 4.9%** |  |  |
| **REPURCHASE AGREEMENT – 4.9%** |  |  |
| Fixed Income Clearing Corp. Repurchase Agreement, 3.80% dated 12/31/25 due 1/2/26, repurchase price $401,012, collateralized by a United States Treasury Note, 3.750% due 6/30/27, value plus accrued interest of $408,946 (Cost: $400,927) | $400927 | 400927 |
| **TOTAL SHORT-TERM INVESTMENTS – 4.9%** |  |  |
| **(Cost $400,927)** |  | **400927** |
| **TOTAL INVESTMENTS – 100.2%<br> (Cost $6,141,192)** |  | **8189873** |
| Liabilities In Excess of Other Assets – (0.2)% |  | (17971) |
| **TOTAL NET ASSETS – 100.0%** |  | $**8171902** |

---

(a) Non-income producing
 security.

(b) All or a portion of this investment
 is held in connection with one or more options within the Fund.

(c) See Note 3 in the Notes to Schedules
 of Investments regarding investments in affiliated issuers.

**OAKMARK FUNDS**

---

| | |
|:---|:---|
| **Oakmark Select Fund** | **December 31, 2025 (Unaudited)** |
| ***Schedule of Investments (in thousands)*** |  |

---

**WRITTEN OPTIONS**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Exercise<br> Price** | **Expiration<br> Date** | **Number of<br> Contracts** | **Notional<br> Amount***<br> (in thousands)*** | **Market<br> Value***<br> (in thousands)*** | **Premiums**<br> (Received)<br> ***(in thousands)*** | **Unrealized<br> Gain/(Loss)<br> ***(in thousands)*** |
| &nbsp;&nbsp;&nbsp;**CALLS** |  |  |  | | | | |
| Alphabet, Inc., Class A | $330.00 | 2/20/26 | (2500) | $(78250) | $(2413) | $(4688) | $2275 |
| Warner Bros Discovery, Inc. | $25.00 | 3/20/26 | (40000) | $(115280) | $(17400) | $(5119) | $(12281) |
|  |  |  |  | $(193530) | $(19813) | $(9807) | $(10006) |

---

**Schedule of Transactions with Affiliated Issuers**

Purchase and sale transactions and dividend and interest income earned during the period on these securities are set forth below (in thousands). The industry, country or geographic region for each of the below affiliates can be found in the Schedule of Investments.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Affiliates** | **Shares <br> Held** | **Purchases<br> (Cost)** | **Sales<br> (Proceeds)** | **Realized<br> Gain/(Loss** | **Change in<br> Unrealized** | **Dividend<br> Income** | **Value<br> September<br> 30, 2025** | **Value<br> December 31,<br> 2025** | **Percent of<br> Net Assets** |
| Lithia Motors Cl A | 1309 | – |  | – $| 21377 | $720 | $413676 | $435053 | 5.3% |

---

***Oakmark.com***

**Oakmark Global Fund**

**Global Diversification —December 31, 2025 (Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **** |  | **% of Equity Investments** | **% of Equity Investments** |
| ***North America*** |  | **50.2%** |  |
| **** | United States |  | 50.2% |
| ***Europe*** |  | **45.6%** |  |
| **** | France\* |  | 11.3% |
| **** | Germany\* |  | 8.8% |
| **** | Switzerland |  | 7.6% |
| **** | United Kingdom |  | 5.6% |
| **** | Netherlands\* |  | 4.1% |
| **** | Denmark |  | 3.3% |
| **** | Ireland\* |  | 2.6% |
| **** | Sweden |  | 1.8% |
| **** | Italy\* |  | 0.5% |
| ***Asia*** |  | **4.2%** |  |
| **** | South Korea |  | 2.5% |
| **** | China |  | 1.7% |

---

\* Euro currency countries comprise 27.3% of equity investments.

---

| | |
|:---|:---|
| **Oakmark Global Fund** | **December 31, 2025 (Unaudited)** |
| ***Schedule of Investments (in thousands)*** |  |

---

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **COMMON STOCKS – 98.9%** |  |  |
| **FINANCIALS – 19.9%** |  |  |
| **FINANCIAL SERVICES – 9.0%** |  |  |
| Julius Baer Group Ltd. (Switzerland) | 402 | $31409 |
| Corebridge Financial, Inc. (United States) | 843 | 25442 |
| Intercontinental Exchange, Inc. (United States) | 137 | 22237 |
| Capital One Financial Corp. (United States) | 91 | 21982 |
|  |  | 101070 |
| **INSURANCE – 6.7%** |  |  |
| Willis Towers Watson PLC (United States) | 92 | 30166 |
| American International Group, Inc. (United States) | 271 | 23167 |
| Prudential PLC (United Kingdom) | 1375 | 21209 |
|  |  | 74542 |
| **BANKS – 4.2%** |  |  |
| BNP Paribas SA (France) | 294 | 27904 |
| Bank of America Corp. (United States) | 354 | 19476 |
|  |  | 47380 |
|  |  | 222992 |
| **HEALTH CARE – 16.7%** |  |  |
| **HEALTH CARE EQUIPMENT & SERVICES – 8.9%** |  |  |
| Envista Holdings Corp. (United States) (a) | 1420 | 30817 |
| Becton Dickinson & Co. (United States) | 155 | 30139 |
| Elevance Health, Inc. (United States) | 65 | 22797 |
| Molina Healthcare, Inc. (United States) (a) | 91 | 15855 |
|  |  | 99608 |
| **PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES – 7.8%** |  |  |
| IQVIA Holdings, Inc. (United States) (a) | 167 | 37711 |
| Roche Holding AG (Switzerland) | 65 | 27008 |
| Bayer AG (Germany) | 522 | 22659 |
|  |  | 87378 |
|  |  | 186986 |
| **CONSUMER DISCRETIONARY – 15.7%** |  |  |
| **CONSUMER DURABLES & APPAREL – 6.4%** |  |  |
| adidas AG (Germany) | 144 | 28575 |
| Kering (France) | 77 | 27379 |
| Brunswick Corp. (United States) | 221 | 16392 |
|  |  | 72346 |
| **CONSUMER SERVICES – 3.6%** |  |  |
| Airbnb, Inc., Class A (United States) (a) | 214 | 29058 |
| Vail Resorts, Inc. (United States) | 82 | 10943 |
|  |  | 40001 |
| **CONSUMER DISCRETIONARY DISTRIBUTION & RETAIL – 3.4%** |  |  |
| Prosus NV (Netherlands) | 314 | 19511 |
| Alibaba Group Holding Ltd. (China) | 1019 | 18690 |
|  |  | 38201 |
| **AUTOMOBILES & COMPONENTS – 2.3%** |  |  |
| Bayerische Motoren Werke AG (Germany) | 236 | 25623 |
|  |  | 176171 |
| **INFORMATION TECHNOLOGY – 13.2%** |  |  |
| **SOFTWARE & SERVICES – 7.9%** |  |  |
| Dassault Systemes SE (France) | 1003 | 28092 |
| Capgemini SE (France) | 147 | 24491 |
| Salesforce, Inc. (United States) | 69 | 18199 |
| Gartner, Inc. (United States) (a) | 71 | 17988 |
|  |  | 88770 |
| **TECHNOLOGY HARDWARE & EQUIPMENT – 5.3%** |  |  |
| Samsung Electronics Co. Ltd. (South Korea) | 341 | 28579 |
| Hexagon AB, Class B (Sweden) | 1701 | 20037 |
| TE Connectivity PLC (Ireland) | 47 | 10806 |
|  |  | 59422 |
|  |  | 148192 |
| **INDUSTRIALS – 13.0%** |  |  |
| **CAPITAL GOODS – 7.7%** |  |  |
| Ashtead Group PLC (United Kingdom) | 397 | 27196 |
| CNH Industrial NV (United States) | 2673 | 24646 |
| Brenntag SE (Germany) | 362 | 21033 |
| Deere & Co. (United States) | 29 | 13548 |
|  |  | 86423 |
| **TRANSPORTATION – 5.3%** |  |  |
| DSV AS (Denmark) | 146 | 36698 |
| Ryanair Holdings PLC ADR (Ireland) (b) | 248 | 17936 |
| Ryanair Holdings PLC, Equity-Linked Security (Italy) | 145 | 5039 |
|  |  | 59673 |
|  |  | 146096 |
| **CONSUMER STAPLES – 8.8%** |  |  |
| **FOOD, BEVERAGE & TOBACCO – 6.1%** |  |  |
| Mondelez International, Inc., Class A (United States) | 351 | 18867 |
| Keurig Dr. Pepper, Inc. (United States) | 639 | 17896 |
| Pernod Ricard SA (France) | 208 | 17860 |
| Diageo PLC (United Kingdom) | 651 | 14069 |
|  |  | 68692 |
| **CONSUMER STAPLES DISTRIBUTION & RETAIL – 2.7%** |  |  |
| Sysco Corp. (United States) | 417 | 30714 |
|  |  | 99406 |
| **MATERIALS – 4.6%** |  |  |
| Akzo Nobel NV (Netherlands) | 379 | 26380 |
| Glencore PLC (Switzerland) | 4613 | 25279 |
|  |  | 51659 |
| **ENERGY – 3.7%** |  |  |
| ConocoPhillips (United States) | 240 | 22504 |

---

**OAKMARK FUNDS**

---

| | |
|:---|:---|
| **Oakmark Global Fund** | **December 31, 2025 (Unaudited)** |
| ***Schedule of Investments (in thousands)*** |  |

---

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **COMMON STOCKS – 98.9% *(cont.)*** |  |  |
| **ENERGY – 3.7% *(cont.)*** |  |  |
| Targa Resources Corp. (United States) | 104 | $19225 |
|  |  | 41729 |
| **COMMUNICATION SERVICES – 3.3%** |  |  |
| **MEDIA & ENTERTAINMENT – 3.3%** |  |  |
| Alphabet, Inc., Class A (United States) | 58 | 18154 |
| Charter Communications, Inc., Class A (United States) (a) | 62 | 12838 |
| Warner Bros. Discovery, Inc. (United States) (a) | 231 | 6643 |
|  |  | 37635 |
| **TOTAL COMMON STOCKS – 98.9%** |  |  |
| **(Cost $909,101)** |  | **1110866** |

---

---

| | | |
|:---|:---|:---|
|  | Par Value | Value |
| **SHORT-TERM INVESTMENTS – 0.6%** |  |  |
| **REPURCHASE AGREEMENT – 0.6%** |  |  |
| Fixed Income Clearing Corp. Repurchase Agreement, 3.80% dated 12/31/25 due 1/2/26, repurchase price $6,499, collateralized by a United States Treasury Note, 3.750% due 6/30/27, value plus accrued interest of $6,628 (Cost: $6,498) | $6498 | 6498 |
| **TOTAL SHORT-TERM INVESTMENTS – 0.6%** |  |  |
| **(Cost $6,498)** |  | **6498** |
| **TOTAL INVESTMENTS – 99.5%<br> (Cost $915,599)** |  | **1117364** |
| Foreign Currencies (Cost $1) – 0.0% (c) |  | 1 |
| Other Assets In Excess of Liabilities – 0.5% |  | 5118 |
| **TOTAL NET ASSETS – 100.0%** |  | $**1122483** |

---

(a) Non-income
 producing security.

(b) Sponsored
 American Depositary Receipt

(c) Amount
 rounds to less than 0.1%.

***Oakmark.com***

**Oakmark Global Select Fund**

**Global Diversification —December 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
|  | **% of Equity Investments** | **% of Equity Investments** |
| ***North America*** | **60.7%** |  |
| United States |  | 60.7% |
| ***Europe*** | **35.7%** |  |
| United Kingdom |  | 9.5% |
| France\* |  | 8.8% |
| Germany\* |  | 8.6% |
| Netherlands\* |  | 4.4% |
| Denmark |  | 4.4% |
| ***Asia*** | **3.6%** |  |
| China |  | 3.6% |

---

\* Euro currency countries comprise 21.8% of equity investments.

---

| | |
|:---|:---|
| **Oakmark Global Select Fund** | **December 31, 2025 (Unaudited)** |
| ***Schedule of Investments (in thousands)*** |  |

---

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **COMMON STOCKS – 96.4%** |  |  |
| **HEALTH CARE – 27.0%** |  |  |
| **PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES – 16.1%** |  |  |
| IQVIA Holdings, Inc. (United States) (a) | 281 | $63385 |
| Sanofi SA (United States) | 521 | 50677 |
| Bayer AG (Germany) | 1113 | 48286 |
|  |  | 162348 |
| **HEALTH CARE EQUIPMENT & SERVICES – 10.9%** |  |  |
| Becton Dickinson & Co. (United States) | 275 | 53272 |
| Elevance Health, Inc. (United States) | 98 | 34238 |
| Molina Healthcare, Inc. (United States) (a) | 128 | 22283 |
|  |  | 109793 |
|  |  | 272141 |
| **FINANCIALS – 21.1%** |  |  |
| **FINANCIAL SERVICES – 12.0%** |  |  |
| Charles Schwab Corp. (United States) | 442 | 44200 |
| Capital One Financial Corp. (United States) | 174 | 42098 |
| Intercontinental Exchange, Inc. (United States) | 213 | 34514 |
|  |  | 120812 |
| **BANKS – 5.4%** |  |  |
| BNP Paribas SA (France) | 577 | 54773 |
| **INSURANCE – 3.7%** |  |  |
| American International Group, Inc. (United States) | 439 | 37577 |
|  |  | 213162 |
| **CONSUMER STAPLES – 15.2%** |  |  |
| **CONSUMER STAPLES DISTRIBUTION & RETAIL – 6.1%** |  |  |
| Sysco Corp. (United States) | 833 | 61361 |
| **HOUSEHOLD & PERSONAL PRODUCTS – 5.3%** |  |  |
| Reckitt Benckiser Group PLC (United Kingdom) | 657 | 53154 |
| **FOOD, BEVERAGE & TOBACCO – 3.8%** |  |  |
| Diageo PLC (United Kingdom) | 1794 | 38772 |
|  |  | 153287 |
| **CONSUMER DISCRETIONARY – 11.2%** |  |  |
| **CONSUMER DISCRETIONARY DISTRIBUTION & RETAIL – 7.7%** |  |  |
| Prosus NV (Netherlands) | 692 | 42967 |
| Alibaba Group Holding Ltd. (China) | 1883 | 34556 |
|  |  | 77523 |
| **AUTOMOBILES & COMPONENTS – 3.5%** |  |  |
| Bayerische Motoren Werke AG (Germany) | 322 | 34905 |
|  |  | 112428 |
| **INDUSTRIALS – 8.7%** |  |  |
| **CAPITAL GOODS – 4.4%** |  |  |
| CNH Industrial NV (United States) | 4829 | 44520 |
| **TRANSPORTATION – 4.3%** |  |  |
| DSV AS (Denmark) | 171 | 42942 |
|  |  | 87462 |
| **COMMUNICATION SERVICES – 6.4%** |  |  |
| **MEDIA & ENTERTAINMENT – 6.4%** |  |  |
| Alphabet, Inc., Class A (United States) | 129 | 40487 |
| Charter Communications, Inc., Class A (United States) (a) | 113 | 23568 |
|  |  | 64055 |
| **ENERGY – 3.8%** |  |  |
| ConocoPhillips (United States) | 407 | 38109 |
| **INFORMATION TECHNOLOGY – 3.0%** |  |  |
| **SOFTWARE & SERVICES – 3.0%** |  |  |
| Dassault Systemes SE (France) | 1098 | 30754 |
| **TOTAL COMMON STOCKS – 96.4%** |  |  |
| **(Cost $815,000)** |  | **971398** |

---

---

| | | |
|:---|:---|:---|
|  | Par Value | Value |
| **SHORT-TERM INVESTMENTS – 3.5%** |  |  |
| **REPURCHASE AGREEMENT – 3.5%** |  |  |
| Fixed Income Clearing Corp. Repurchase Agreement, 3.80% dated 12/31/25 due 1/2/26, repurchase price $35,610, collateralized by a United States Treasury Note, 3.750% due 6/30/27, value plus accrued interest of $36,315 (Cost: $35,602) | $35602 | 35602 |
| **TOTAL SHORT-TERM INVESTMENTS – 3.5%** |  |  |
| **(Cost $35,602)** |  | **35602** |
| **TOTAL INVESTMENTS – 99.9%<br> (Cost $850,602)** |  | **1007000** |
| Foreign Currencies (Cost $1) – 0.0% (b) |  | 1 |
| Other Assets In Excess of Liabilities – 0.1% |  | 1281 |
| **TOTAL NET ASSETS – 100.0%** |  | $**1008282** |

---

(a) Non-income
 producing security.

(b) Amount
 rounds to less than 0.1%.

**OAKMARK FUNDS**

**Oakmark International Fund**

**Global Diversification —December 31, 2025 (Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
|  |  | **% of Equity Investments** | **% of Equity Investments** |
| **Europe** |  | **80.7%** |  |
|  | France\* |  | 24.0% |
|  | Germany\* |  | 20.7% |
|  | United Kingdom |  | 15.1% |
|  | Netherlands\* |  | 8.3% |
|  | Switzerland |  | 5.3% |
|  | Sweden |  | 3.1% |
|  | Denmark |  | 2.3% |
|  | Italy\* |  | 1.5% |
|  | Ireland\* |  | 0.4% |
| **Asia** |  | **14.3%** |  |
|  | Japan |  | 5.6% |
|  | South Korea |  | 3.9% |
|  | China |  | 1.8% |
|  | Indonesia |  | 1.7% |
|  | India |  | 1.3% |
| **North America** |  | **3.5%** |  |
|  | United States |  | 3.5% |
| **Latin America** |  | **1.5%** |  |
|  | Mexico |  | 1.5% |

---

\* Euro currency countries comprise 54.9% of equity investments.

---

| | |
|:---|:---|
| **Oakmark International Fund** | **December 31, 2025 (Unaudited)** |
| ***Schedule of Investments (in thousands)*** |  |

---

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **COMMON STOCKS – 95.5%** |  |  |
| **INDUSTRIALS – 20.9%** |  |  |
| **CAPITAL GOODS – 15.9%** |  |  |
| Ashtead Group PLC (United Kingdom) | 5460 | $374297 |
| CNH Industrial NV (United States) | 34298 | 316226 |
| Airbus SE (France) | 1246 | 290440 |
| SMC Corp. (Japan) | 824 | 285243 |
| Brenntag SE (Germany) | 4870 | 282665 |
| Daimler Truck Holding AG (Germany) | 5270 | 228276 |
| Volvo AB, Class B (Sweden) | 5725 | 182191 |
| Bunzl PLC (United Kingdom) | 6397 | 178999 |
| IMCD NV (Netherlands) | 1658 | 150650 |
| Tkms AG& Co. KGaA (Germany) (a) | 208 | 16142 |
|  |  | 2305129 |
| **TRANSPORTATION – 3.1%** |  |  |
| DSV AS (Denmark) | 1286 | 323877 |
| Ryanair Holdings PLC (Italy) | 1901 | 66030 |
| Ryanair Holdings PLC ADR (Ireland) (b) | 828 | 59760 |
|  |  | 449667 |
| **COMMERCIAL & PROFESSIONAL SERVICES – 1.9%** |  |  |
| Rentokil Initial PLC (United Kingdom) | 24238 | 146206 |
| Intertek Group PLC (United Kingdom) | 2028 | 126456 |
|  |  | 272662 |
|  |  | 3027458 |
| **CONSUMER DISCRETIONARY – 19.7%** |  |  |
| **CONSUMER DURABLES & APPAREL – 8.5%** |  |  |
| adidas AG (Germany) | 2118 | 419162 |
| LVMH Moet Hennessy Louis Vuitton SE (France) | 386 | 292737 |
| Kering (France) | 792 | 280017 |
| Cie Financiere Richemont SA, Class A (Switzerland) | 1096 | 236400 |
|  |  | 1228316 |
| **AUTOMOBILES & COMPONENTS – 4.5%** |  |  |
| Bayerische Motoren Werke AG (Germany) | 3041 | 329750 |
| Continental AG (Germany) | 2946 | 233783 |
| Aumovio SE (Germany) (a) | 1784 | 89594 |
|  |  | 653127 |
| **CONSUMER SERVICES – 3.5%** |  |  |
| Accor SA (France) | 5884 | 333462 |
| Flutter Entertainment PLC (United Kingdom) (a) | 794 | 170828 |
|  |  | 504290 |
| **CONSUMER DISCRETIONARY DISTRIBUTION & RETAIL – 3.2%** |  |  |
| Alibaba Group Holding Ltd. (China) | 13543 | 248489 |
| Prosus NV (Netherlands) | 3503 | 217575 |
|  |  | 466064 |
|  |  | 2851797 |
| **FINANCIALS – 14.5%** |  |  |
| **BANKS – 8.8%** |  |  |
| BNP Paribas SA (France) | 4363 | 414246 |
| KB Financial Group, Inc. (South Korea) | 3338 | 287371 |
| Bank Mandiri Persero Tbk. PT (Indonesia) | 796283 | 242813 |
| Axis Bank Ltd. (India) | 12841 | 181358 |
| Intesa Sanpaolo SpA (Italy) | 20571 | 142151 |
|  |  | 1267939 |
| **INSURANCE – 4.5%** |  |  |
| Prudential PLC (United Kingdom) | 15902 | 245322 |
| ASR Nederland NV (Netherlands) | 3098 | 220689 |
| Allianz SE (Germany) | 406 | 187632 |
|  |  | 653643 |
| **FINANCIAL SERVICES – 1.2%** |  |  |
| Edenred SE (France) | 7999 | 177771 |
|  |  | 2099353 |
| **CONSUMER STAPLES – 12.1%** |  |  |
| **FOOD, BEVERAGE & TOBACCO – 7.6%** |  |  |
| Pernod Ricard SA (France) | 3332 | 286218 |
| Asahi Group Holdings Ltd. (Japan) | 21821 | 228727 |
| Danone SA (France) | 2446 | 220734 |
| Fomento Economico Mexicano SAB de CV ADR (Mexico) (b) | 2129 | 215133 |
| Diageo PLC (United Kingdom) | 6417 | 138704 |
|  |  | 1089516 |
| **HOUSEHOLD & PERSONAL PRODUCTS – 3.8%** |  |  |
| Reckitt Benckiser Group PLC (United Kingdom) | 4397 | 355733 |
| Unilever PLC (United Kingdom) | 3022 | 197965 |
|  |  | 553698 |
| **CONSUMER STAPLES DISTRIBUTION & RETAIL – 0.7%** |  |  |
| Koninklijke Ahold Delhaize NV (Netherlands) | 2540 | 104071 |
|  |  | 1747285 |
| **HEALTH CARE – 10.7%** |  |  |
| **PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES – 7.4%** |  |  |
| Bayer AG (Germany) | 7720 | 334869 |
| Eurofins Scientific SE (France) | 3117 | 228597 |
| AstraZeneca PLC, ADR (United Kingdom) (b) | 2035 | 187114 |
| Sanofi SA (United States) | 1871 | 181904 |
| Roche Holding AG (Switzerland) | 347 | 143177 |
|  |  | 1075661 |
| **HEALTH CARE EQUIPMENT & SERVICES – 3.3%** |  |  |
| Fresenius SE & Co. KGaA (Germany) | 4066 | 232968 |
| Siemens Healthineers AG (Germany) | 3867 | 202683 |
| Fresenius Medical Care AG (Germany) | 696 | 33251 |
|  |  | 468902 |
|  |  | 1544563 |

---

**OAKMARK FUNDS**

---

| | |
|:---|:---|
| **Oakmark International Fund** | **December 31, 2025 (Unaudited)** |
| ***Schedule of Investments (in thousands)*** |  |

---

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **COMMON STOCKS – 95.5% *(cont.)*** |  |  |
| **INFORMATION TECHNOLOGY – 8.6%** |  |  |
| **SOFTWARE & SERVICES – 5.6%** |  |  |
| Dassault Systemes SE (France) | 11716 | $328256 |
| Capgemini SE (France) | 1754 | 293223 |
| Fujitsu Ltd. (Japan) | 7062 | 194092 |
|  |  | 815571 |
| **TECHNOLOGY HARDWARE & EQUIPMENT – 1.7%** |  |  |
| Hexagon AB, Class B (Sweden) | 21276 | 250600 |
| **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT – 1.3%** |  |  |
| ASML Holding N.V. (Netherlands) | 168 | 180164 |
|  |  | 1246335 |
| **MATERIALS – 6.8%** |  |  |
| Glencore PLC (Switzerland) | 66826 | 366214 |
| Akzo Nobel NV (Netherlands) | 4320 | 300548 |
| Symrise AG (Germany) | 2306 | 186868 |
| thyssenkrupp AG (Germany) | 12777 | 137365 |
|  |  | 990995 |
| **COMMUNICATION SERVICES – 1.7%** |  |  |
| **MEDIA & ENTERTAINMENT – 1.7%** |  |  |
| Publicis Groupe SA (France) | 2316 | 241255 |
| **REAL ESTATE – 0.5%** |  |  |
| **REAL ESTATE MANAGEMENT & DEVELOPMENT – 0.5%** |  |  |
| Mitsubishi Estate Co. Ltd. (Japan) | 3208 | 77934 |
| **TOTAL COMMON STOCKS – 95.5%** |  |  |
| **(Cost $11,240,000)** |  | **13826975** |
| **PREFERRED STOCKS – 1.8%** |  |  |
| **INFORMATION TECHNOLOGY – 1.8%** |  |  |
| **TECHNOLOGY HARDWARE & EQUIPMENT – 1.8%** |  |  |
| Samsung Electronics Co. Ltd. (South Korea) | 4290 | 266307 |
| **TOTAL PREFERRED STOCKS – 1.8%** |  |  |
| **(Cost $191,605)** |  | **266307** |

---

---

| | | |
|:---|:---|:---|
|  | Par Value | Value |
| **SHORT-TERM INVESTMENTS – 2.5%** |  |  |
| **REPURCHASE AGREEMENT – 2.3%** |  |  |
| Fixed Income Clearing Corp. Repurchase Agreement, 3.80% dated 12/31/25 due 1/2/26, repurchase price $324,439, collateralized by a United States Treasury Note, 3.750% due 6/30/27, value plus accrued interest of $330,858 (Cost: $324,371) | $324371 | 324371 |
| **COMMERCIAL PAPER – 0.2%** |  |  |
| Campbell's Co., 144A |  |  |
| &nbsp;&nbsp;&nbsp;4.077%, due 01/21/26 (c) (d) | 15200 | 15165 |
| American Honda Finance Corp., |  |  |
| &nbsp;&nbsp;&nbsp;4.227%, due 01/06/26 (d) | 15000 | 14990 |
| **TOTAL COMMERCIAL PAPER – 0.2%** |  |  |
| **(Cost $30,157)** |  | **30155** |
| **TOTAL SHORT-TERM INVESTMENTS – 2.5%** |  |  |
| **(Cost $354,528)** |  | **354526** |
| **TOTAL INVESTMENTS – 99.8%<br> (Cost $11,786,133)** |  | **14447808** |
| Foreign Currencies (Cost $-3) – 0.0% (e) |  | (3) |
| Other Assets In Excess of Liabilities – 0.2% |  | 33217 |
| **TOTAL NET ASSETS – 100.0%** |  | $**14481022** |

---

(a) Non-income producing security.

(b) Sponsored American Depositary Receipt

(c) Security exempt from registration
 under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold, normally only to qualified institutional
 buyers. At December 31, 2025, the value of Rule 144A holdings amounted to $15,165 (in thousands) or 0.10% of Net Assets.

(d) The rate shown represents the annualized
 yield at the time of purchase; not a coupon rate.

(e) Amount rounds to less than 0.1%.

***Oakmark.com***

**OAKMARK INTERNATIONAL SMALL CAP FUND**

**Global Diversification —December 31, 2025 (Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
|  |  | **% of Equity Investments** | **% of Equity Investments** |
| **Europe** |  | **73.2%** |  |
|  | Italy\* |  | 13.2% |
|  | Germany\* |  | 12.4% |
|  | United Kingdom |  | 11.2% |
|  | Sweden |  | 7.8% |
|  | Switzerland |  | 6.2% |
|  | Finland\* |  | 5.2% |
|  | France\* |  | 3.9% |
|  | Norway |  | 3.3% |
|  | Belgium\* |  | 2.7% |
|  | Spain\* |  | 2.5% |
|  | Denmark |  | 2.3% |
|  | Faroe Islands |  | 1.8% |
|  | Netherlands\* |  | 0.7% |
| **Asia** |  | **17.7%** |  |
|  | Japan |  | 9.1% |
|  | South Korea |  | 4.7% |
|  | China |  | 2.0% |
|  | Indonesia |  | 1.0% |
|  | Philippines |  | 0.9% |
| **Latin America** |  | **4.5%** |  |
|  | Mexico |  | 3.6% |
|  | Chile |  | 0.9% |
| **Australasia** |  | **3.5%** |  |
|  | Australia |  | 3.5% |
| **North America** |  | **0.6%** |  |
|  | Canada |  | 0.6% |
| **Middle East** |  | **0.5%** |  |
|  | Israel |  | 0.5% |

---

\* Euro currency countries comprise 40.6% of equity investments.

---

| | |
|:---|:---|
| **Oakmark International Small Cap Fund** | **December 31, 2025 (Unaudited)** |
| ***Schedule of Investments (in thousands)*** |  |

---

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **COMMON STOCKS – 96.0%** |  |  |
| **INDUSTRIALS – 28.4%** |  |  |
| **CAPITAL GOODS – 17.0%** |  |  |
| Duerr AG (Germany) | 1514 | $39704 |
| Azelis Group NV (Belgium) | 3049 | 33501 |
| Valmet OYJ (Finland) | 949 | 31369 |
| Travis Perkins PLC (United Kingdom) | 2854 | 24445 |
| Howden Joinery Group PLC (United Kingdom) | 2049 | 22990 |
| MISUMI Group, Inc. (Japan) | 1351 | 21086 |
| Konecranes OYJ (Finland) | 167 | 18305 |
| Metso OYJ (Finland) | 944 | 16418 |
| Fluidra SA (Spain) | 476 | 12956 |
|  |  | 220774 |
| **COMMERCIAL & PROFESSIONAL SERVICES – 11.4%** |  |  |
| ISS AS (Denmark) | 870 | 29646 |
| Loomis AB (Sweden) | 570 | 24090 |
| Bravida Holding AB (Sweden) | 2326 | 22597 |
| Hays PLC (United Kingdom) | 25537 | 19380 |
| Adecco Group AG (Switzerland) | 575 | 16548 |
| Pagegroup PLC (United Kingdom) | 3228 | 10241 |
| Randstad NV (Netherlands) | 236 | 8962 |
| SThree PLC (United Kingdom) | 3349 | 8622 |
| Mitie Group PLC (United Kingdom) | 2600 | 5832 |
| Visional, Inc. (Japan) (a) | 40 | 2544 |
|  |  | 148462 |
|  |  | 369236 |
| **FINANCIALS – 14.4%** |  |  |
| **FINANCIAL SERVICES – 9.9%** |  |  |
| Julius Baer Group Ltd. (Switzerland) | 539 | 42080 |
| Azimut Holding SpA (Italy) | 848 | 35311 |
| EFG International AG (Switzerland) | 810 | 19432 |
| Nexi SpA (Italy) | 3468 | 17092 |
| St. James's Place PLC (United Kingdom) | 795 | 14844 |
|  |  | 128759 |
| **BANKS – 4.5%** |  |  |
| BNK Financial Group, Inc. (South Korea) | 2737 | 30118 |
| iM Financial Group Co. Ltd. (South Korea) | 2663 | 28708 |
|  |  | 58826 |
|  |  | 187585 |
| **INFORMATION TECHNOLOGY – 13.5%** |  |  |
| **SOFTWARE & SERVICES – 9.0%** |  |  |
| Atea ASA (Norway) | 2633 | 41147 |
| TeamViewer SE (Germany) (a) | 3666 | 25808 |
| TIS, Inc. (Japan) | 641 | 21518 |
| Sopra Steria Group (France) | 102 | 18507 |
| Alten SA (France) | 122 | 10362 |
|  |  | 117342 |
| **TECHNOLOGY HARDWARE & EQUIPMENT – 4.5%** |  |  |
| Jenoptik AG (Germany) | 1087 | 24678 |
| Hamamatsu Photonics KK (Japan) | 1977 | 21033 |
| Jeol, Ltd. (Japan) | 389 | 12493 |
|  |  | 58204 |
|  |  | 175546 |
| **CONSUMER DISCRETIONARY – 12.9%** |  |  |
| **AUTOMOBILES & COMPONENTS – 7.4%** |  |  |
| Dometic Group AB (Sweden) | 5785 | 29168 |
| Pirelli & C SpA (Italy) | 3542 | 24188 |
| Autoliv, Inc. (Sweden) | 184 | 21793 |
| Aumovio SE (Germany) (a) | 427 | 21416 |
|  |  | 96565 |
| **CONSUMER SERVICES – 1.9%** |  |  |
| Wynn Macau Ltd. (China) | 32616 | 24893 |
| **CONSUMER DURABLES & APPAREL – 1.8%** |  |  |
| Ermenegildo Zegna NV (Italy) | 2303 | 23603 |
| **CONSUMER DISCRETIONARY DISTRIBUTION & RETAIL – 1.8%** |  |  |
| Fielmann Group AG (Germany) | 447 | 22810 |
|  |  | 167871 |
| **HEALTH CARE – 7.6%** |  |  |
| **HEALTH CARE EQUIPMENT & SERVICES – 6.2%** |  |  |
| Amplifon SpA (Italy) | 2193 | 35154 |
| Ansell Ltd. (Australia) | 986 | 23037 |
| ConvaTec Group PLC (United Kingdom) | 6684 | 21911 |
|  |  | 80102 |
| **PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES – 1.4%** |  |  |
| Grifols SA ADR (Spain) (b) | 1946 | 18195 |
|  |  | 98297 |
| **CONSUMER STAPLES – 7.5%** |  |  |
| **FOOD, BEVERAGE & TOBACCO – 4.6%** |  |  |
| Davide Campari-Milano NV (Italy) | 4676 | 30208 |
| Bakkafrost P (Faeroe Islands) | 442 | 22575 |
| Strauss Group Ltd. (Israel) | 195 | 6796 |
|  |  | 59579 |
| **HOUSEHOLD & PERSONAL PRODUCTS – 2.1%** |  |  |
| Kimberly-Clark de Mexico SAB de CV, Class A (Mexico) | 12671 | 27020 |
| **CONSUMER STAPLES DISTRIBUTION & RETAIL – 0.8%** |  |  |
| Sugi Holdings Co. Ltd. (Japan) | 457 | 10751 |
|  |  | 97350 |
| **COMMUNICATION SERVICES – 4.0%** |  |  |
| **MEDIA & ENTERTAINMENT – 3.0%** |  |  |
| oOh!media Ltd. (Australia) | 24360 | 21134 |
| Megacable Holdings SAB de CV (Mexico) | 6152 | 17670 |
|  |  | 38804 |
| **TELECOMMUNICATION SERVICES – 1.0%** |  |  |
| Sarana Menara Nusantara Tbk. PT (Indonesia) | 376105 | 13187 |
|  |  | 51991 |

---

**OAKMARK FUNDS**

---

| | |
|:---|:---|
| **Oakmark International Small Cap Fund** | **December 31, 2025 (Unaudited)** |
| ***Schedule of Investments (in thousands)*** |  |

---

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **COMMON STOCKS – 96.0% *(cont.)*** |  |  |
| **MATERIALS – 3.9%** |  |  |
| Lanxess AG (Germany) | 1054 | $21590 |
| Robertet SA (France) | 20 | 20120 |
| Essentra PLC (United Kingdom) | 4634 | 6034 |
| Kansai Paint Co. Ltd. (Japan) | 153 | 2409 |
|  |  | 50153 |
| **REAL ESTATE – 3.8%** |  |  |
| **REAL ESTATE MANAGEMENT & DEVELOPMENT – 3.8%** |  |  |
| Katitas Co. Ltd. (Japan) | 1104 | 22442 |
| Ayala Land, Inc. (Philippines) | 31707 | 12089 |
| Colliers International Group, Inc. (Canada) | 53 | 7819 |
| LSL Property Services PLC (United Kingdom) | 1917 | 6796 |
|  |  | 49146 |
| **TOTAL COMMON STOCKS – 96.0%** |  |  |
| **(Cost $1,061,119)** |  | **1247175** |
| **PREFERRED STOCKS – 0.8%** |  |  |
| **SOFT DRINKS & NON-ALCOHOLIC BEVERAGES – 0.8%** |  |  |
| Embotelladora Andina SA (Chile) | 2377 | 11135 |
| **TOTAL PREFERRED STOCKS – 0.8%** |  |  |
| **(Cost $6,880)** |  | **11135** |
|  | Par Value | Value |
| **SHORT-TERM INVESTMENTS – 2.9%** |  |  |
| **REPURCHASE AGREEMENT – 2.9%** |  |  |
| Fixed Income Clearing Corp. Repurchase Agreement, 3.80% dated 12/31/25 due 1/2/26, repurchase price $37,165, collateralized by a United States Treasury Note, 3.750% due 6/30/27, value plus accrued interest of $37,901 (Cost: $37,158) | $37158 | 37158 |
| **TOTAL SHORT-TERM INVESTMENTS – 2.9%** |  |  |
| **(Cost $37,158)** |  | **37158** |
| **TOTAL INVESTMENTS – 99.7%<br> (Cost $1,105,157)** |  | **1295468** |
| Foreign Currencies (Cost $-4) – 0.0% (c) |  | (4) |
| Other Assets In Excess of Liabilities – 0.3% |  | 4223 |
| **TOTAL NET ASSETS – 100.0%** |  | $**1299687** |

---

(a) Non-income
 producing security.

(b) Sponsored
 American Depositary Receipt

(c) Amount
 rounds to less than 0.1%.

***Oakmark.com***

---

| | |
|:---|:---|
| **Oakmark Equity and Income Fund** | **December 31, 2025 (Unaudited)** |
| ***Schedule of Investments (in thousands)*** | |

---

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **COMMON STOCKS – 60.1%** |  |  |
| **FINANCIALS – 17.9%** |  |  |
| **FINANCIAL SERVICES – 11.4%** |  |  |
| Capital One Financial Corp. | 487 | $117908 |
| Charles Schwab Corp. | 1103 | 110184 |
| Ally Financial, Inc. | 2331 | 105589 |
| Intercontinental Exchange, Inc. | 623 | 100917 |
| Corebridge Financial, Inc. | 2911 | 87830 |
| State Street Corp. | 568 | 73304 |
| Fiserv, Inc. (a) | 848 | 56960 |
| Nasdaq, Inc. | 521 | 50624 |
|  |  | 703316 |
| **INSURANCE – 5.1%** |  |  |
| Reinsurance Group of America, Inc. | 584 | 118800 |
| Willis Towers Watson PLC | 316 | 103706 |
| American International Group, Inc. | 1110 | 94926 |
|  |  | 317432 |
| **BANKS – 1.4%** |  |  |
| Bank of America Corp. | 1557 | 85642 |
|  |  | 1106390 |
| **CONSUMER DISCRETIONARY – 8.7%** |  |  |
| **CONSUMER DISCRETIONARY DISTRIBUTION & RETAIL – 4.0%** |  |  |
| Amazon.com, Inc. (a) | 533 | 123119 |
| Lithia Motors, Inc. | 246 | 81853 |
| Genuine Parts Co. | 330 | 40515 |
|  |  | 245487 |
| **CONSUMER SERVICES – 2.6%** |  |  |
| Airbnb, Inc., Class A (a) | 775 | 105183 |
| Wendy's Co. | 6849 | 57051 |
|  |  | 162234 |
| **CONSUMER DURABLES & APPAREL – 1.3%** |  |  |
| Brunswick Corp. | 613 | 45487 |
| NIKE, Inc., Class B | 540 | 34410 |
|  |  | 79897 |
| **AUTOMOBILES & COMPONENTS – 0.8%** |  |  |
| BorgWarner, Inc. | 693 | 31222 |
| General Motors Co. | 244 | 19826 |
|  |  | 51048 |
|  |  | 538666 |
| **HEALTH CARE – 8.0%** |  |  |
| **HEALTH CARE EQUIPMENT & SERVICES – 4.4%** |  |  |
| Elevance Health, Inc. | 272 | 95314 |
| GE HealthCare Technologies, Inc. | 864 | 70832 |
| Zimmer Biomet Holdings, Inc. | 606 | 54447 |
| Molina Healthcare, Inc. (a) | 295 | 51264 |
|  |  | 271857 |
| **PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES – 3.6%** |  |  |
| Merck & Co., Inc. | 624 | 65703 |
| IQVIA Holdings, Inc. (a) | 266 | 59959 |
| Charles River Laboratories International, Inc. (a) | 260 | 51945 |
| ICON PLC (a) | 264 | 48015 |
|  |  | 225622 |
|  |  | 497479 |
| **COMMUNICATION SERVICES – 6.3%** |  |  |
| **MEDIA & ENTERTAINMENT – 6.3%** |  |  |
| Alphabet, Inc., Class A (b) | 674 | 210868 |
| Warner Bros. Discovery, Inc. (a) | 2750 | 79264 |
| Comcast Corp., Class A | 1933 | 57771 |
| Warner Music Group Corp., Class A | 1389 | 42598 |
|  |  | 390501 |
| **INDUSTRIALS – 6.1%** |  |  |
| **CAPITAL GOODS – 2.6%** |  |  |
| Deere & Co. | 116 | 54146 |
| Masco Corp. | 718 | 45551 |
| Allison Transmission Holdings, Inc. | 332 | 32513 |
| Owens Corning | 254 | 28403 |
|  |  | 160613 |
| **COMMERCIAL & PROFESSIONAL SERVICES – 2.4%** |  |  |
| Equifax, Inc. | 379 | 82279 |
| ABM Industries, Inc. | 1060 | 44825 |
| OPENLANE, Inc. (a) | 705 | 20986 |
|  |  | 148090 |
| **TRANSPORTATION – 1.1%** |  |  |
| Delta Air Lines, Inc. | 975 | 67693 |
|  |  | 376396 |
| **INFORMATION TECHNOLOGY – 4.4%** |  |  |
| **TECHNOLOGY HARDWARE & EQUIPMENT – 2.4%** |  |  |
| TE Connectivity PLC | 390 | 88724 |
| CDW Corp. | 447 | 60881 |
|  |  | 149605 |
| **SOFTWARE & SERVICES – 2.0%** |  |  |
| Salesforce, Inc. | 278 | 73539 |
| Gartner, Inc. (a) | 200 | 50431 |
|  |  | 123970 |
|  |  | 273575 |
| **ENERGY – 4.2%** |  |  |
| Phillips 66 | 883 | 113968 |
| ConocoPhillips | 962 | 90090 |
| Targa Resources Corp. | 300 | 55258 |
|  |  | 259316 |

---

**OAKMARK FUNDS**

---

| | |
|:---|:---|
| **Oakmark Equity and Income Fund** | **December 31, 2025 (Unaudited)** |
| ***Schedule of Investments (in thousands)*** | |

---

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **COMMON STOCKS – 60.1% *(cont.)*** |  |  |
| **MATERIALS – 2.3%** |  |  |
| Glencore PLC | 19860 | $108832 |
| Amrize Ltd. (a) | 651 | 35211 |
|  |  | 144043 |
| **CONSUMER STAPLES – 2.2%** |  |  |
| **FOOD, BEVERAGE & TOBACCO – 2.2%** |  |  |
| Keurig Dr. Pepper, Inc. | 3810 | 106704 |
| Mondelez International, Inc., Class A | 574 | 30909 |
|  |  | 137613 |
| **TOTAL COMMON STOCKS – 60.1%** |  |  |
| **(Cost $2,700,644)** |  | **3723979** |

---

---

| | | |
|:---|:---|:---|
|  | Par Value | Value |
| **FIXED INCOME – 38.1%** |  |  |
| **CORPORATE BONDS – 16.9%** |  |  |
| **FINANCIALS – 5.2%** |  |  |
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, due 11/15/30 | $19021 | 18963 |
| &nbsp;&nbsp;&nbsp;3.30%, due 01/30/32 | 10129 | 9352 |
| Ally Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.992% (1 day USD SOFR + 3.260%), due 06/13/29 (c) | 9250 | 9769 |
| Ally Financial, Inc., Series B |  |  |
| &nbsp;&nbsp;&nbsp;4.70% (5 yr. CMT + 3.868%) (c) (d) | 23750 | 23509 |
| Ally Financial, Inc., Series C |  |  |
| &nbsp;&nbsp;&nbsp;4.70% (7 yr. CMT + 3.481%) (c) (d) | 2000 | 1902 |
| Arthur J Gallagher & Co. |  |  |
| &nbsp;&nbsp;&nbsp;5.55%, due 02/15/55 | 2000 | 1920 |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.623% (1 day USD SOFR + 1.110%), due 05/09/29 (c) | 13575 | 13755 |
| Blackstone Secured Lending Fund |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, due 01/31/31 | 10000 | 9875 |
| Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;7.624% (1 day USD SOFR + 3.070%), due 10/30/31 (c) | 19600 | 22151 |
| Citadel Securities Global Holdings LLC, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.20%, due 06/18/35 (e) | 20000 | 21053 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.503% (1 day USD SOFR + 1.171%), due 09/11/31 (c) | 7525 | 7548 |
| First Citizens BancShares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.231%(1 day USD SOFR + 1.410%), due 03/12/31 (c) | 18250 | 18528 |
| &nbsp;&nbsp;&nbsp;5.60%(5 yr. CMT + 1.850%), due 09/05/35 (c) | 13250 | 13227 |
| Global Payments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.55%, due 11/15/35 | 10250 | 10188 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;4.255% (1 day USD SOFR + 0.930%), due 10/22/31 (c) | 34750 | 34645 |
| KKR & Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.10%, due 08/07/35 | 10000 | 10000 |
| KKR Group Finance Co. XII LLC, 144A |  |  |
| &nbsp;&nbsp;&nbsp;4.85%, due 05/17/32 (e) | 9000 | 9041 |
| LPL Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.15%, due 06/15/30 | 14225 | 14507 |
| Morgan Stanley, Series I |  |  |
| &nbsp;&nbsp;&nbsp;4.356% (1 day USD SOFR + 1.074%), due 10/22/31 (c) | 15700 | 15648 |
| South State Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;8.375% (3 mo. USD Term SOFR + 4.605%), due 08/15/34 (c) | 9350 | 9934 |
| Stifel Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, due 05/15/30 | 12242 | 11981 |
| Truist Financial Corp., Series I |  |  |
| &nbsp;&nbsp;&nbsp;4.964% (1 day USD SOFR + 1.395%), due 10/23/36 (c) | 10000 | 9893 |
| Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;5.15% (1 day USD SOFR + 1.500%), due 04/23/31 (c) | 20750 | 21418 |
| Willis North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.90%, due 03/05/54 | 4600 | 4592 |
|  |  | 323399 |
| **CONSUMER DISCRETIONARY – 4.2%** |  |  |
| American Honda Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.15%, due 07/09/32 | 10000 | 10276 |
| &nbsp;&nbsp;&nbsp;5.20%, due 03/05/35 | 10000 | 10135 |
| Aptiv Swiss Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;5.15%, due 09/13/34 | 13750 | 13875 |
| AutoNation, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.75%, due 06/01/30 | 4750 | 4795 |
| Beacon Roofing Supply Inc, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 04/30/32 (e) | 13750 | 14361 |
| Brunswick Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.40%, due 08/18/31 | 35813 | 31364 |
| Carnival Corp., 144A |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 08/01/32 (e) | 9750 | 10006 |
| Daimler Truck Finance North America LLC, 144A |  |  |
| &nbsp;&nbsp;&nbsp;5.25%, due 01/13/30 (e) | 23500 | 24192 |
| Expedia Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, due 08/01/27 | 13576 | 13676 |
| General Motors Financial Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.15%, due 07/15/35 | 10000 | 10538 |
| Hilton Domestic Operating Co., Inc., 144A |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 03/31/34 (e) | 9000 | 9062 |
| Hyatt Hotels Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 03/30/32 | 20000 | 20954 |
| Hyundai Capital America, 144A |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 09/18/30 (e) | 10000 | 10001 |
| Lithia Motors, Inc., 144A |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, due 06/01/29 (e) | 8540 | 8257 |
| &nbsp;&nbsp;&nbsp;4.375%, due 01/15/31 (e) | 5000 | 4805 |
| M/I Homes, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.95%, due 02/15/30 | 7100 | 6835 |
| Marriott International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 10/15/31 | 10000 | 10022 |
| Mercedes-Benz Finance North America LLC, 144A |  |  |
| &nbsp;&nbsp;&nbsp;4.85%, due 01/11/29 (e) | 10000 | 10188 |
| MGM Resorts International |  |  |
| &nbsp;&nbsp;&nbsp;4.75%, due 10/15/28 | 13875 | 13842 |

---

***Oakmark.com***

---

| | |
|:---|:---|
| **Oakmark Equity and Income Fund** | **December 31, 2025 (Unaudited)** |
| ***Schedule of Investments (in thousands)*** | |

---

---

| | | |
|:---|:---|:---|
|  | Par Value | Value |
| **FIXED INCOME – 38.1% *(cont.)*** |  |  |
| **CORPORATE BONDS – 16.9% *(cont.)*** |  |  |
| **CONSUMER DISCRETIONARY – 4.2% *(cont.)*** |  |  |
| Phinia Inc, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.625%, due 10/15/32 (e) | $6523 | $6754 |
| Thor Industries, Inc., 144A |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, due 10/15/29 (e) | 17250 | 16614 |
|  |  | 260552 |
| **ENERGY – 1.8%** |  |  |
| Aker BP ASA, 144A |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, due 01/15/31 (e) | 10000 | 9653 |
| APA Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.35%, due 07/01/49 | 10000 | 8312 |
| Expand Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.75%, due 02/01/32 | 25000 | 24663 |
| MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;5.40%, due 09/15/35 | 10000 | 10074 |
| Parsley Energy LLC/Parsley Finance Corp., 144A |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, due 02/15/28 (e) | 26312 | 25978 |
| Patterson-UTI Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.15%, due 10/01/33 | 15000 | 16054 |
| Plains All American Pipeline LP/PAA Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.70%, due 01/15/31 | 3250 | 3268 |
| Valero Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.625%, due 06/15/37 | 5511 | 6068 |
| Williams Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.30%, due 09/30/35 | 10000 | 10172 |
|  |  | 114242 |
| **INDUSTRIALS – 1.7%** |  |  |
| Boeing Co. |  |  |
| &nbsp;&nbsp;&nbsp;6.858%, due 05/01/54 | 18500 | 20778 |
| Bombardier, Inc., 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 06/15/33 (e) | 15000 | 15855 |
| Carlisle Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.55%, due 09/15/40 | 5875 | 5954 |
| &nbsp;&nbsp;&nbsp;5.25%, due 09/15/35 | 1875 | 1914 |
| Deere & Co. |  |  |
| &nbsp;&nbsp;&nbsp;5.45%, due 01/16/35 | 10000 | 10546 |
| Delta Air Lines, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.25%, due 07/10/30 | 13000 | 13358 |
| Hilton Domestic Operating Co., Inc., 144A |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, due 02/15/32 (e) | 18500 | 17173 |
| Molex Electronic Technologies LLC, 144A |  |  |
| &nbsp;&nbsp;&nbsp;5.25%, due 04/30/32 (e) | 7750 | 7956 |
| &nbsp;&nbsp;&nbsp;4.75%, due 04/30/28 (e) | 3000 | 3033 |
| United Airlines, Inc., 144A |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, due 04/15/29 (e) | 10000 | 9956 |
|  |  | 106523 |
| **HEALTH CARE – 1.1%** |  |  |
| Centene Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, due 12/15/29 | 10000 | 9700 |
| Cigna Group |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, due 09/15/32 | 10000 | 10130 |
| CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.78%, due 03/25/38 | 20000 | 18878 |
| GE HealthCare Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.95%, due 12/15/35 | 9875 | 9853 |
| Select Medical Corp, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.25%, due 12/01/32 (e) | 16981 | 16603 |
|  |  | 65164 |
| **REAL ESTATE – 1.0%** |  |  |
| Alexandria Real Estate Equities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 10/01/35 | 14892 | 15134 |
| CBRE Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.90%, due 01/15/33 | 18125 | 18212 |
| GLP Capital LP/GLP Financing II, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, due 01/15/31 | 9425 | 9027 |
| &nbsp;&nbsp;&nbsp;5.75%, due 06/01/28 | 4975 | 5105 |
| Omega Healthcare Investors, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.20%, due 07/01/30 | 2425 | 2468 |
| RHP Hotel Properties LP/RHP Finance Corp., 144A |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 02/15/29 (e) | 10875 | 10767 |
|  |  | 60713 |
| **MATERIALS – 0.7%** |  |  |
| Celanese U.S. Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.375%, due 02/15/34 | 9165 | 9311 |
| Glencore Funding LLC, 144A |  |  |
| &nbsp;&nbsp;&nbsp;2.625%, due 09/23/31 (e) | 10000 | 9015 |
| LYB International Finance III LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, due 01/15/36 | 15000 | 14930 |
| Westlake Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, due 11/15/55 | 10000 | 9838 |
| &nbsp;&nbsp;&nbsp;5.55%, due 11/15/35 | 1850 | 1850 |
|  |  | 44944 |
| **CONSUMER STAPLES – 0.3%** |  |  |
| Bacardi-Martini BV, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.00%, due 02/01/35 (e) | 11350 | 11777 |
| Philip Morris International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, due 10/29/35 | 10000 | 9783 |
|  |  | 21560 |
| **COMMUNICATION SERVICES – 0.3%** |  |  |
| Meta Platforms, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, due 11/15/35 | 10000 | 9987 |
| Vail Resorts, Inc., 144A |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, due 07/15/30 (e) | 7750 | 7876 |
|  |  | 17863 |
| **UTILITIES – 0.3%** |  |  |
| Southern Co., Series 21-A |  |  |
| &nbsp;&nbsp;&nbsp;3.75% (5 yr. CMT + 2.915%), due 09/15/51 (c) | 13750 | 13555 |
| Southern Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;4.90%, due 10/01/35 | 4250 | 4204 |
|  |  | 17759 |
| **INFORMATION TECHNOLOGY – 0.3%** |  |  |
| Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.60%, due 07/15/30 | 7750 | 7874 |

---

**OAKMARK FUNDS**

---

| | |
|:---|:---|
| **Oakmark Equity and Income Fund** | **December 31, 2025 (Unaudited)** |
| ***Schedule of Investments (in thousands)*** | |

---

---

| | | |
|:---|:---|:---|
|  | Par Value | Value |
| **FIXED INCOME – 38.1% *(cont.)*** |  |  |
| **CORPORATE BONDS – 16.9% *(cont.)*** |  |  |
| **INFORMATION TECHNOLOGY – 0.3% *(cont.)*** |  |  |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, due 09/26/45 | $9000 | $8128 |
|  |  | 16002 |
| **Total Corporate Bonds<br> (Cost $1,037,760)** |  | **1048721** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – 7.3%** |  |  |
| Federal Home Loan Mortgage Corp., Pool SD6595 |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 10/01/54 | 37900 | 38811 |
| Federal National Mortgage Association, Pool CB8992 |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 08/01/54 | 33145 | 33858 |
| Federal Home Loan Mortgage Corp. REMICS, Series 5369-Class Z |  |  |
| &nbsp;&nbsp;&nbsp;6.00%, due 01/25/54 | 22511 | 23066 |
| Government National Mortgage Association REMICS, Series 2023-149-Class DZ |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 10/20/53 | 20273 | 20862 |
| Federal Home Loan Mortgage Corp. REMICS, Series 5408-Class QZ |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 04/25/54 | 17917 | 18155 |
| Chase Home Lending Mortgage Trust, Series 2024-6-Class B1, 144A |  |  |
| &nbsp;&nbsp;&nbsp;7.049%, due 05/25/55 (c) (e) | 15219 | 16178 |
| JP Morgan Mortgage Trust, Series 2024-6-Class B1, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.90%, due 12/25/54 (c) (e) | 14695 | 15492 |
| JP Morgan Mortgage Trust, Series 2024-9-Class B1, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.985%, due 02/25/55 (c) (e) | 13962 | 14796 |
| Government National Mortgage Association REMICS, Seres 2023-164-Class BZ |  |  |
| &nbsp;&nbsp;&nbsp;6.00%, due 11/20/53 | 13870 | 14550 |
| JP Morgan Mortgage Trust, Series 2025-NQM5-Class A2, 144A |  |  |
| &nbsp;&nbsp;&nbsp;5.133%, due 05/25/65 (e) | 14000 | 13997 |
| JP Morgan Mortgage Trust, Series 2025 NQM4-Class A2, 144A |  |  |
| &nbsp;&nbsp;&nbsp;5.157%, due 03/25/66 (e) | 13675 | 13673 |
| Chase Home Lending Mortgage Trust, Series 2024-1-Class B1, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.656%, due 01/25/55 (c) (e) | 12356 | 12896 |
| JP Morgan Mortgage Trust, Series 2025-NQM3-Class A2, 144A |  |  |
| &nbsp;&nbsp;&nbsp;5.648%, due 11/25/65 (e) | 12386 | 12474 |
| Federal National Mortgage Association REMICS, Series 2023-54-Class GZ |  |  |
| &nbsp;&nbsp;&nbsp;6.50%, due 11/25/53 | 10434 | 11216 |
| JP Morgan Mortgage Trust, Series 2024-6-Class B2, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.90%, due 12/25/54 (c) (e) | 10709 | 11211 |
| Angel Oak Mortgage Trust, Series 2025-13-Class A2, 144A |  |  |
| &nbsp;&nbsp;&nbsp;5.183%, due 10/25/70 (e) | 11085 | 11099 |
| Federal Home Loan Mortgage Corp. REMICS, Series 5389-Class BZ |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, due 03/25/54 | 11191 | 10728 |
| Sequoia Mortgage Trust, Series 2024-6-Class B1, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.553%, due 07/27/54 (c) (e) | 10244 | 10586 |
| JP Morgan Mortgage Trust, Series 2024-12-Class B2, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.626%, due 06/25/55 (c) (e) | 10137 | 10450 |
| OBX Trust, Series 2025-NQM23-Class A2, 144A |  |  |
| &nbsp;&nbsp;&nbsp;5.176%, due 10/25/65 (e) | 10000 | 10003 |
| A&D Mortgage Trust, Series 2025-NQM4-Class A2, 144A |  |  |
| &nbsp;&nbsp;&nbsp;5.479%, due 10/25/70 (e) | 9820 | 9834 |
| JP Morgan Mortgage Trust, Series 2024-12-Class B1, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.626%, due 06/25/55 (c) (e) | 9224 | 9574 |
| Federal Home Loan Mortgage Corp. REMICS, Series 5413-Class Z |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 05/25/54 | 8762 | 9145 |
| Angel Oak Mortgage Trust, Series 2025-12-Class A2,144A |  |  |
| &nbsp;&nbsp;&nbsp;5.14%, due 12/25/70 (e) | 7977 | 7995 |
| GS Mortgage-Backed Securities Trust, Series 2025-PJ6-Class B1, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.531%, due 11/25/55 (c) (e) | 6951 | 7184 |
| JP Morgan Mortgage Trust, Series 2025 -9-Class B1, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.424%, due 03/25/56 (c) (e) | 6736 | 6893 |
| JP Morgan Mortgage Trust, Series 2025-CCM1-Class B1, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.093%, due 06/25/55 (c) (e) | 6761 | 6850 |
| JP Morgan Mortgage Trust, Series 2025-CCM2-Class B2, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.57%, due 09/25/55 (c) (e) | 6062 | 6244 |
| Santander Mortgage Asset Receivable Trust, Series 2025-NQM4-Class A2, 144A |  |  |
| &nbsp;&nbsp;&nbsp;5.608%, due 07/25/65 (e) | 6172 | 6201 |
| OBX Trust, Series 2025-NQM13-Class A2, 144A |  |  |
| &nbsp;&nbsp;&nbsp;5.614%, due 05/25/65 (e) | 6082 | 6119 |
| JP Morgan Mortgage Trust, Series 2025-CCM1-Class B2, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.093%, due 06/25/55 (c) (e) | 4929 | 4963 |
| RCKT Mortgage Trust, Series 2025-1-Class B2A, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.466%, due 03/25/55 (c) (e) | 4704 | 4895 |
| GS Mortgage-Backed Securities Trust, Series 2025-PJ3-Class B2, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.171%, due 07/25/55 (c) (e) | 4824 | 4838 |
| Chase Home Lending Mortgage Trust, Series 2025-4-Class B1, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.626%, due 03/25/56 (c) (e) | 3959 | 4147 |
| Angel Oak Mortgage Trust, Series 2025-10-Class A2, 144A |  |  |
| &nbsp;&nbsp;&nbsp;5.163%, due 09/25/70 (e) | 3886 | 3892 |
| A&D Mortgage Trust, Series 2025-NQM3-Class A2, 144A |  |  |
| &nbsp;&nbsp;&nbsp;5.577%, due 08/25/70 (e) | 3810 | 3819 |

---

***Oakmark.com***

---

| | |
|:---|:---|
| **Oakmark Equity and Income Fund** | **December 31, 2025 (Unaudited)** |
| ***Schedule of Investments (in thousands)*** | |

---

---

| | | |
|:---|:---|:---|
|  | Par Value | Value |
| **FIXED INCOME – 38.1% *(cont.)*** |  |  |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – 7.3% *(cont.)*** |  |  |
| GS Mortgage-Backed Securities Trust, Series 2025-PJ3-Class B1, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.171%, due 07/25/55 (c) (e) | $3769 | $3819 |
| GS Mortgage-Backed Securities Trust, Series 2025-PJ7-Class B2, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.542%, due 12/25/55 (c) (e) | 3713 | 3807 |
| OBX Trust, Series 2025-NQM16-Class A2, 144A |  |  |
| &nbsp;&nbsp;&nbsp;5.058%, due 08/25/65 (e) | 3255 | 3247 |
| Bank, Series 2022-BNK40-Class AS |  |  |
| &nbsp;&nbsp;&nbsp;3.39%, due 03/15/64 (c) | 3500 | 3184 |
| Angel Oak Mortgage Trust, Series 2025-9-Class A2,144A |  |  |
| &nbsp;&nbsp;&nbsp;5.395%, due 08/25/70 (e) | 3094 | 3107 |
| JP Morgan Mortgage Trust, Series 2025-10-Class B1, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.41%, due 05/25/56 (c) (e) | 2550 | 2581 |
| GS Mortgage-Backed Securities Trust, Series 2025-PJ4-Class B1, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.469%, due 09/25/55 (c) (e) | 1982 | 2037 |
| GS Mortgage-Backed Securities Trust, Series 2025-PJ1-Class B2, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.183%, due 06/25/55 (c) (e) | 1737 | 1706 |
| OBX Trust, Series 2025-NQM15-Class A2, 144A |  |  |
| &nbsp;&nbsp;&nbsp;5.396%, due 07/27/65 (e) | 940 | 943 |
| **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS – 7.3%<br> (Cost $442,545)** |  | **451125** |
| **GOVERNMENT AND AGENCY SECURITIES – 5.3%** |  |  |
| **U.S. GOVERNMENT BONDS – 3.0%** |  |  |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 11/15/54 | 72500 | 68382 |
| &nbsp;&nbsp;&nbsp;4.75%, due 02/15/45 | 43700 | 43478 |
| &nbsp;&nbsp;&nbsp;3.625%, due 02/15/53 | 50000 | 40481 |
| &nbsp;&nbsp;&nbsp;4.625%, due 11/15/44 | 29425 | 28834 |
| &nbsp;&nbsp;&nbsp;4.75%, due 05/15/55 | 8400 | 8254 |
|  |  | 189429 |
| **U.S. GOVERNMENT NOTES – 2.3%** |  |  |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;4.25%, due 05/15/35 | 70200 | 70781 |
| &nbsp;&nbsp;&nbsp;3.875%, due 06/30/30 | 25775 | 25969 |
| &nbsp;&nbsp;&nbsp;4.00%, due 07/31/32 | 20450 | 20557 |
| &nbsp;&nbsp;&nbsp;4.25%, due 08/15/35 | 15000 | 15108 |
| &nbsp;&nbsp;&nbsp;3.50%, due 11/30/30 | 8000 | 7920 |
|  |  | 140335 |
| **Total Government and Agency Securities<br> (Cost $333,991)** |  | **329764** |
| **MORTGAGE-BACKED SECURITIES – 4.8%** |  |  |
| Federal Home Loan Mortgage Corp., Pool SD5400 |  |  |
| &nbsp;&nbsp;&nbsp;2.00%, due 01/01/52 | 36739 | 30055 |
| Federal National Mortgage Association, Pool FA0201 |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 12/01/54 | 28908 | 29390 |
| Federal Home Loan Mortgage Corp., Pool SD3470 |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, due 06/01/52 | 30629 | 26461 |
| Federal National Mortgage Association, Pool FA1274 |  |  |
| &nbsp;&nbsp;&nbsp;2.00%, due 02/01/52 | 32295 | 26438 |
| Federal National Mortgage Association, Pool BW9842 |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 09/01/52 | 25183 | 24817 |
| Federal Home Loan Mortgage Corp., Pool SD6569 |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 10/01/54 | 23345 | 23820 |
| Federal Home Loan Mortgage Corp., Pool QJ4474 |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 09/01/54 | 19033 | 19455 |
| Federal Home Loan Mortgage Corp., Pool SD4953 |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, due 11/01/51 | 22071 | 19094 |
| Federal Home Loan Mortgage Corp., Pool SD8188 |  |  |
| &nbsp;&nbsp;&nbsp;2.00%, due 01/01/52 | 22867 | 18524 |
| Federal National Mortgage Association, Pool FS9114 |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 09/01/54 | 17522 | 17806 |
| Federal National Mortgage Association, Pool CB0830 |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, due 06/01/51 | 19003 | 16443 |
| Federal Home Loan Mortgage Corp., Pool SD6577 |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 09/01/54 | 15537 | 15767 |
| Federal National Mortgage Association, Pool BU1118 |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, due 10/01/51 | 15379 | 13217 |
| Federal National Mortgage Association, Pool BW9905 |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 10/01/52 | 5908 | 5808 |
| Federal Home Loan Mortgage Corp., Pool SD4990 |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, due 10/01/53 | 5757 | 5759 |
| Federal Home Loan Mortgage Corp., Pool RJ2202 |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 08/01/54 | 5632 | 5749 |
| Federal Home Loan Mortgage Corp., Pool RA8038 |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 10/01/52 | 3055 | 3017 |
| **TOTAL MORTGAGE-BACKED SECURITIES – 4.8% <br> (Cost $294,597)** |  | **301620** |
| **ASSET BACKED SECURITIES – 2.1%** |  |  |
| Santander Drive Auto Receivables Trust, Series 2024-4-Class D, |  |  |
| &nbsp;&nbsp;&nbsp;5.32%, due 12/15/31 | 21750 | 22015 |
| Carvana Auto Receivables Trust, Series 2025-P4-Class C, |  |  |
| &nbsp;&nbsp;&nbsp;5.04%, due 04/12/32 | 10500 | 10486 |

---

**OAKMARK FUNDS**

---

| | |
|:---|:---|
| **Oakmark Equity and Income Fund** | **December 31, 2025 (Unaudited)** |
| ***Schedule of Investments (in thousands)*** | |

---

---

| | | |
|:---|:---|:---|
|  | Par Value | Value |
| **FIXED INCOME – 38.1% *(cont.)*** |  |  |
| **ASSET BACKED SECURITIES – 2.1% *(cont.)*** |  |  |
| Carvana Auto Receivables Trust, Series 2025-P4-Class N,144A, |  |  |
| &nbsp;&nbsp;&nbsp;5.46%, due 11/10/33 (e) | $9508 | $9511 |
| Exeter Automobile Receivables Trust, Series 2025-2A-Class D, |  |  |
| &nbsp;&nbsp;&nbsp;5.89%, due 07/15/31 | 9000 | 9215 |
| Carvana Auto Receivables Trust, Series 2024-P3-Class D, |  |  |
| &nbsp;&nbsp;&nbsp;5.39%, due 09/10/32 | 8000 | 8008 |
| CPS Auto Receivables Trust, Series 2024-B-Class E, 144A, |  |  |
| &nbsp;&nbsp;&nbsp;8.36%, due 11/17/31 (e) | 7250 | 7629 |
| Exeter Automobile Receivables Trust, Series 2025-5A-Class D, |  |  |
| &nbsp;&nbsp;&nbsp;5.16%, due 03/15/32 | 7000 | 7047 |
| Sierra Timeshare Receivables Funding LLC, Series 2025-1A-Class D, 144A, |  |  |
| &nbsp;&nbsp;&nbsp;6.86%, due 01/21/42 (e) | 6038 | 6085 |
| CPS Auto Receivables Trust, Series 2024-C-Class E, 144A, |  |  |
| &nbsp;&nbsp;&nbsp;8.04%, due 03/15/32 (e) | 5000 | 5182 |
| Westlake Automobile Receivables Trust, Series 2025-2A-Class D, 144A, |  |  |
| &nbsp;&nbsp;&nbsp;5.08%, due 05/15/31 (e) | 4600 | 4636 |
| Exeter Automobile Receivables Trust, Series 2025-3A-Class D, |  |  |
| &nbsp;&nbsp;&nbsp;5.57%, due 10/15/31 | 3500 | 3567 |
| CPS Auto Receivables Trust, Series 2024-A-Class D, 144A, |  |  |
| &nbsp;&nbsp;&nbsp;6.13%, due 04/15/30 (e) | 3200 | 3265 |
| CPS Auto Receivables Trust, Series 2024-A-Class E, 144A, |  |  |
| &nbsp;&nbsp;&nbsp;8.42%, due 08/15/31 (e) | 3100 | 3229 |
| CPS Auto Receivables Trust, Series 2022-C-Class E, 144A, |  |  |
| &nbsp;&nbsp;&nbsp;9.08%, due 04/15/30 (e) | 3000 | 3144 |
| Santander Drive Auto Receivables Trust, Series 2025-4-Class D, |  |  |
| &nbsp;&nbsp;&nbsp;4.95%, due 01/15/32 | 3000 | 3011 |
| Sierra Timeshare Receivables Funding LLC, Series 2023-2A-Class C, 144A, |  |  |
| &nbsp;&nbsp;&nbsp;7.30%, due 04/20/40 (e) | 2463 | 2555 |
| Carvana Auto Receivables Trust, Series 2024-P4-Class D,, |  |  |
| &nbsp;&nbsp;&nbsp;5.60%, due 12/10/32 | 2532 | 2548 |
| Sierra Timeshare Receivables Funding LLC, Series 2024-1A-Class C, 144A, |  |  |
| &nbsp;&nbsp;&nbsp;5.94%, due 01/20/43 (e) | 2505 | 2542 |
| Sierra Timeshare Receivables Funding LLC, Series 2023-3A-Class C, 144A, |  |  |
| &nbsp;&nbsp;&nbsp;7.12%, due 09/20/40 (e) | 2347 | 2429 |
| Sierra Timeshare Receivables Funding LLC, Series 2024-3A-Class C, 144A, |  |  |
| &nbsp;&nbsp;&nbsp;5.32%, due 08/20/41 (e) | 2271 | 2285 |
| Sierra Timeshare Receivables Funding LLC, Series 2024-2A-Class D, 144A, |  |  |
| &nbsp;&nbsp;&nbsp;7.48%, due 06/20/41 (e) | 1962 | 1986 |
| Sierra Timeshare Receivables Funding LLC, Series 2023-2A-Class D, 144A, |  |  |
| &nbsp;&nbsp;&nbsp;9.72%, due 04/20/40 (e) | 1715 | 1804 |
| Flagship Credit Auto Trust, Series 2022-1-Class E, 144A, |  |  |
| &nbsp;&nbsp;&nbsp;5.37%, due 06/15/29 (e) | 2372 | 1728 |
| Carvana Auto Receivables Trust, Series 2024-P2-Class D, |  |  |
| &nbsp;&nbsp;&nbsp;6.10%, due 06/10/31 | 1625 | 1668 |
| Sierra Timeshare Receivables Funding LLC, Series 2024-1A-Class D, 144A, |  |  |
| &nbsp;&nbsp;&nbsp;8.02%, due 01/20/43 (e) | 1225 | 1253 |
| Carmax Auto Owner Trust, Series 2025-4-Class D, |  |  |
| &nbsp;&nbsp;&nbsp;5.11%, due 05/17/32 | 1000 | 1000 |
| Sierra Timeshare Receivables Funding LLC, Series 2022-2A-Class C, 144A, |  |  |
| &nbsp;&nbsp;&nbsp;6.36%, due 06/20/40 (e) | 341 | 345 |
| Sierra Timeshare Receivables Funding LLC, Series 2022-2A-Class D, 144A, |  |  |
| &nbsp;&nbsp;&nbsp;9.22%, due 06/20/40 (e) | 171 | 175 |
| **Total Asset Backed Securities<br> (Cost $126,257)** |  | **128348** |
| **BANK LOANS (f) – 1.7%** |  |  |
| **CONSUMER STAPLES – 0.8%** |  |  |
| Wand NewCo 3, Inc. 2025 Repriced Term Loan B |  |  |
| &nbsp;&nbsp;&nbsp;6.216% (1 mo. USD Term SOFR + 2.500%), due 01/30/31 (c) | 23478 | 23491 |
| Boost Newco Borrower LLC 2025 USD Term Loan B2 |  |  |
| &nbsp;&nbsp;&nbsp;5.672% (3 mo. USD Term SOFR + 2.000%), due 01/31/31 (c) | 14850 | 14860 |
| Belron Finance 2019 LLC 2025 Repriced Term Loan B |  |  |
| &nbsp;&nbsp;&nbsp;6.12% (3 mo. USD Term SOFR + 2.500%), due 10/16/31 (c) | 13332 | 13398 |
|  |  | 51749 |
| **CONSUMER DISCRETIONARY – 0.7%** |  |  |
| Raising Cane's Restaurants LLC 2024 Term Loan B |  |  |
| &nbsp;&nbsp;&nbsp;5.716% (1 mo. USD Term SOFR + 2.000%), due 09/18/31 (c) | 7880 | 7892 |
| Peer Holding III BV 2025 USD Term Loan B4B |  |  |
| &nbsp;&nbsp;&nbsp;6.172% (3 mo. USD Term SOFR + 2.500%), due 10/28/30 (c) | 8744 | 8777 |

---

***Oakmark.com***

---

| | |
|:---|:---|
| **Oakmark Equity and Income Fund** | **December 31, 2025 (Unaudited)** |
| ***Schedule of Investments (in thousands)*** | |

---

---

| | | |
|:---|:---|:---|
|  | Par Value | Value |
| **FIXED INCOME – 38.1% *(cont.)*** |  |  |
| **BANK LOANS (f) – 1.7% *(cont.)*** |  |  |
| **CONSUMER DISCRETIONARY – 0.7% *(cont.)*** |  |  |
| Peer Holding III BV 2025 USD Term Loan B5B |  |  |
| &nbsp;&nbsp;&nbsp;6.172% (3 mo. USD Term SOFR + 2.500%), due 07/01/31 (c) | $4950 | $4967 |
| SkyMiles IP Ltd. 2025 Repriced Term Loan B |  |  |
| &nbsp;&nbsp;&nbsp;5.384% (3 mo. USD Term SOFR + 1.500%), due 10/20/28 (c) | 3863 | 3891 |
| Peer Holding III BV 2025 USD Term Loan B |  |  |
| &nbsp;&nbsp;&nbsp;0.00%, due 09/29/32 (g) | 5000 | 5004 |
| Raising Cane's Restaurants LLC 2025 Term Loan B |  |  |
| &nbsp;&nbsp;&nbsp;5.843% (1 mo. USD Term SOFR + 2.000%), due 11/03/32 (c) | 13500 | 13525 |
|  |  | 44056 |
| **FINANCIALS – 0.1%** |  |  |
| Blackstone Mortgage Trust, Inc. 2025 Term Loan B6 |  |  |
| &nbsp;&nbsp;&nbsp;6.716% (1 mo. USD Term SOFR + 3.000%), due 12/10/30 (c) | 6620 | 6641 |
| **INDUSTRIALS – 0.1%** |  |  |
| Clydesdale Acquisition Holdings, Inc. 2025 Term Loan B |  |  |
| &nbsp;&nbsp;&nbsp;6.966% (1 mo. USD Term SOFR + 3.250%), due 04/01/32 (c) | 4961 | 4954 |
| **Total Bank Loans <br> (Cost $107,365)** |  | **107400** |
| **TOTAL FIXED INCOME – 38.1% <br> (Cost $2,342,515)** |  | **2366978** |
| **SHORT-TERM INVESTMENTS – 1.6%** |  |  |
| **REPURCHASE AGREEMENT – 1.6%** |  |  |
| Fixed Income Clearing Corp. Repurchase Agreement, 3.80% dated 12/31/25 due 1/2/26, repurchase price $98,555, collateralized by a United States Treasury Note, 3.750% due 6/30/27, value plus accrued interest of $100,505 (Cost: $98,535) | 98535 | 98535 |
| **TOTAL SHORT-TERM INVESTMENTS – 1.6% <br> (Cost $98,535)** |  | **98535** |
| **TOTAL INVESTMENTS – 99.8% <br> (Cost $5,141,694)** |  | **6189492** |
| Other Assets In Excess of Liabilities – 0.2% |  | 10047 |
| **NET ASSETS – 100.0%** |  | $**6199539** |

---

(a) Non-income
 producing security.

(b) All
 or a portion of this investment is held in connection with one or more options within the
 Fund.

(c) Floating
 Rate Note. Rate shown is as of December 31, 2025.

(d) Security
 is perpetual and has no stated maturity date.

(e) Security
 exempt from registration under Rule 144A of the Securities Act of 1933, as amended.
 These securities may be resold, normally only to qualified institutional buyers. At December 31,
 2025, the value of Rule 144A holdings amounted to $617,311 (in thousands) or 9.96% of
 Net Assets.

(f) Bank
 loans generally are subject to mandatory and/or optional prepayment. As a result, the actual
 remaining maturity of bank loans may be substantially less than the stated maturities shown.

(g) This
 position represents an unsettled loan commitment at period end. Certain details associated
 with this purchase are not known prior to the settlement date, including coupon rate, which
 will be adjusted on settlement date.

Abbreviations:

SOFR: Secured Overnight Financing Rate

**OAKMARK FUNDS**

---

| | |
|:---|:---|
| **Oakmark Equity and Income Fund** | **December 31, 2025 (Unaudited)** |
| ***Schedule of Investments (in thousands)*** | |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **WRITTEN OPTIONS** | **WRITTEN OPTIONS** | **WRITTEN OPTIONS** | **WRITTEN OPTIONS** | **WRITTEN OPTIONS** | **WRITTEN OPTIONS** | **WRITTEN OPTIONS** | **WRITTEN OPTIONS** |
| **Description** | **Exercise<br> Price** | **Expiration<br> Date** | **Number of<br> Contracts** | **Notional<br> Amount<br> ***(in thousands)*** | **Market <br> Value<br> ***(in thousands)*** | **Premiums<br> (Received) <br> ***(in thousands)*** | **Unrealized<br> Gain/(Loss)<br> ***(in thousands)*** |
| **CALLS** |  |  |  | | | | |
| Alphabet, Inc., Class A | $330.00 | 2/20/26 | (1700) | $(53210) | $(1641) | $(3188) | $1547 |
|  |  |  |  | $(53210) | $(1641) | $(3188) | $1547 |

---

***Oakmark.com***

---

| | |
|:---|:---|
| **Oakmark Bond Fund** | **December 31, 2025 (Unaudited)** |
| ***Schedule of Investments (in thousands)*** | |

---

---

| | | |
|:---|:---|:---|
|  | Par Value | Value |
| **FIXED INCOME – 97.2%** |  |  |
| **CORPORATE BONDS – 40.2%** |  |  |
| **FINANCIALS – 9.7%** |  |  |
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust |  |  |
| &nbsp;&nbsp;&nbsp;3.30%, due 01/30/32 | $150 | $138 |
| Ally Financial, Inc., Series C |  |  |
| &nbsp;&nbsp;&nbsp;4.70% (7 yr. CMT + 3.481%) (a) (b) | 1000 | 951 |
| Arthur J Gallagher & Co. |  |  |
| &nbsp;&nbsp;&nbsp;5.55%, due 02/15/55 | 750 | 720 |
| Blackstone Secured Lending Fund |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, due 01/31/31 | 2000 | 1975 |
| Citadel Securities Global Holdings LLC, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.20%, due 06/18/35 (c) | 2000 | 2105 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.503% (1 day USD SOFR + 1.171%), due 09/11/31 (a) | 2200 | 2207 |
| First Citizens BancShares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.231% (1 day USD SOFR + 1.410%), due 03/12/31 (a) | 1500 | 1523 |
| Global Payments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.55%, due 11/15/35 | 2000 | 1988 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;4.255% (1 day USD SOFR + 0.930%), due 10/22/31 (a) | 2500 | 2492 |
| KKR & Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.10%, due 08/07/35 | 1500 | 1500 |
| KKR Group Finance Co. XII LLC, 144A |  |  |
| &nbsp;&nbsp;&nbsp;4.85%, due 05/17/32 (c) | 1000 | 1005 |
| LPL Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.15%, due 06/15/30 | 500 | 510 |
| Morgan Stanley, Series I |  |  |
| &nbsp;&nbsp;&nbsp;4.356% (1 day USD SOFR + 1.074%), due 10/22/31 (a) | 1000 | 997 |
| South State Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;8.375% (3 mo. USD Term SOFR + 4.605%), due 08/15/34 (a) | 500 | 531 |
| Truist Financial Corp., Series I |  |  |
| &nbsp;&nbsp;&nbsp;4.964% (1 day USD SOFR + 1.395%), due 10/23/36 (a) | 1500 | 1484 |
| Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;5.15% (1 day USD SOFR + 1.500%), due 04/23/31 (a) | 1000 | 1032 |
|  |  | 21158 |
| **CONSUMER DISCRETIONARY – 7.6%** |  |  |
| Aptiv Swiss Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;5.15%, due 09/13/34 | 1000 | 1009 |
| AutoNation, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.75%, due 06/01/30 | 1500 | 1514 |
| Beacon Roofing Supply Inc, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 04/30/32 (c) | 1500 | 1567 |
| Carnival Corp., 144A |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 08/01/32 (c) | 2000 | 2053 |
| General Motors Financial Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.15%, due 07/15/35 | 1250 | 1317 |
| Hyatt Hotels Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 03/30/32 | 2000 | 2095 |
| Hyundai Capital America, 144A |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 09/18/30 (c) | 2000 | 2000 |
| Lithia Motors, Inc., 144A |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, due 01/15/31 (c) | 1100 | 1057 |
| M/I Homes, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.95%, due 02/15/30 | 850 | 818 |
| Mercedes-Benz Finance North America LLC, 144A |  |  |
| &nbsp;&nbsp;&nbsp;4.85%, due 01/11/29 (c) | 2000 | 2038 |
| Phinia Inc, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.625%, due 10/15/32 (c) | 977 | 1012 |
|  |  | 16480 |
| **ENERGY – 5.7%** |  |  |
| Aker BP ASA, 144A |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, due 01/15/31 (c) | 1500 | 1448 |
| APA Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.35%, due 07/01/49 | 750 | 623 |
| Expand Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.75%, due 02/01/32 | 1250 | 1233 |
| MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;5.40%, due 09/15/35 | 1500 | 1511 |
| Noble Finance II LLC, 144A |  |  |
| &nbsp;&nbsp;&nbsp;8.00%, due 04/15/30 (c) | 1000 | 1039 |
| Parsley Energy LLC/Parsley Finance Corp., 144A |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, due 02/15/28 (c) | 1500 | 1481 |
| Patterson-UTI Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.15%, due 10/01/33 | 1500 | 1605 |
| Plains All American Pipeline LP/PAA Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.70%, due 01/15/31 | 1500 | 1509 |
| Valero Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.625%, due 06/15/37 | 848 | 934 |
| Williams Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.30%, due 09/30/35 | 1000 | 1017 |
|  |  | 12400 |
| **INDUSTRIALS – 4.2%** |  |  |
| Bombardier, Inc., 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 06/15/33 (c) | 1500 | 1585 |
| Carlisle Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.25%, due 09/15/35 | 1000 | 1021 |
| &nbsp;&nbsp;&nbsp;5.55%, due 09/15/40 | 1000 | 1013 |
| Delta Air Lines, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.25%, due 07/10/30 | 2000 | 2055 |
| Molex Electronic Technologies LLC, 144A |  |  |
| &nbsp;&nbsp;&nbsp;5.25%, due 04/30/32 (c) | 2000 | 2053 |
| United Airlines, Inc., 144A |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, due 04/15/29 (c) | 1500 | 1494 |
|  |  | 9221 |
| **HEALTH CARE – 3.6%** |  |  |
| Baxter International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.90%, due 12/15/30 | 1000 | 1008 |
| Centene Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, due 12/15/29 | 1500 | 1455 |
| CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.78%, due 03/25/38 | 1000 | 944 |
| GE HealthCare Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.95%, due 12/15/35 | 2000 | 1995 |
| Insulet Corp., 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.50%, due 04/01/33 (c) | 1500 | 1564 |

---

**OAKMARK FUNDS**

---

| | |
|:---|:---|
| **Oakmark Bond Fund** | **December 31, 2025 (Unaudited)** |
| ***Schedule of Investments (in thousands)*** | |

---

---

| | | |
|:---|:---|:---|
|  | Par Value | Value |
| **FIXED INCOME – 97.2% *(cont.)*** |  |  |
| **CORPORATE BONDS – 40.2% *(cont.)*** |  |  |
| **HEALTH CARE – 3.6% *(cont.)*** |  |  |
| Select Medical Corp, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.25%, due 12/01/32 (c) | $849 | $830 |
|  |  | 7796 |
| **REAL ESTATE – 2.0%** |  |  |
| Alexandria Real Estate Equities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 10/01/35 | 1500 | 1525 |
| CBRE Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.90%, due 01/15/33 | 1500 | 1507 |
| Omega Healthcare Investors, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.20%, due 07/01/30 | 1250 | 1272 |
|  |  | 4304 |
| **MATERIALS – 2.0%** |  |  |
| Celanese U.S. Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.375%, due 02/15/34 | 1787 | 1815 |
| LYB International Finance III LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, due 01/15/36 | 1500 | 1493 |
| Westlake Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, due 11/15/55 | 1000 | 984 |
|  |  | 4292 |
| **COMMUNICATION SERVICES – 1.9%** |  |  |
| Meta Platforms, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, due 11/15/35 | 2000 | 1997 |
| Vail Resorts, Inc., 144A |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, due 07/15/30 (c) | 2000 | 2033 |
|  |  | 4030 |
| **CONSUMER STAPLES – 1.8%** |  |  |
| Bacardi-Martini BV, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.00%, due 02/01/35 (c) | 1050 | 1090 |
| JBS USA LUX Sarl / JBS USA Food Co. / JBS USA Foods Group, 144A |  |  |
| &nbsp;&nbsp;&nbsp;5.95%, due 04/20/35 (c) | 1250 | 1314 |
| Philip Morris International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, due 10/29/35 | 1500 | 1467 |
|  |  | 3871 |
| **UTILITIES – 1.1%** |  |  |
| Southern Co., Series 21-A |  |  |
| &nbsp;&nbsp;&nbsp;3.75% (5 yr. CMT + 2.915%), due 09/15/51 (a) | 1000 | 986 |
| Southern Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;4.90%, due 10/01/35 | 1500 | 1484 |
|  |  | 2470 |
| **INFORMATION TECHNOLOGY – 0.6%** |  |  |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, due 09/26/45 | 1400 | 1265 |
| **Total Corporate Bonds<br> (Cost $85,910)** |  | **87287** |
| **GOVERNMENT AND AGENCY SECURITIES – 23.2%** |  |  |
| **U.S. GOVERNMENT BONDS – 12.8%** |  |  |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, due 05/15/54 | 5500 | 5297 |
| &nbsp;&nbsp;&nbsp;5.00%, due 05/15/45 | 4750 | 4876 |
| &nbsp;&nbsp;&nbsp;4.75%, due 08/15/55 | 3500 | 3441 |
| &nbsp;&nbsp;&nbsp;4.625%, due 11/15/44 | 2750 | 2695 |
| &nbsp;&nbsp;&nbsp;4.75%, due 11/15/43 | 2000 | 2000 |
| &nbsp;&nbsp;&nbsp;4.125%, due 08/15/44 | 2000 | 1836 |
| &nbsp;&nbsp;&nbsp;3.00%, due 08/15/52 | 2500 | 1791 |
| &nbsp;&nbsp;&nbsp;4.75%, due 05/15/55 | 1625 | 1597 |
| &nbsp;&nbsp;&nbsp;4.375%, due 08/15/43 | 1500 | 1433 |
| &nbsp;&nbsp;&nbsp;3.625%, due 05/15/53 | 1500 | 1213 |
| &nbsp;&nbsp;&nbsp;4.125%, due 08/15/53 | 500 | 443 |
| &nbsp;&nbsp;&nbsp;3.375%, due 08/15/42 | 500 | 422 |
| &nbsp;&nbsp;&nbsp;2.00%, due 11/15/41 | 500 | 349 |
| &nbsp;&nbsp;&nbsp;2.00%, due 08/15/51 | 500 | 286 |
|  |  | 27679 |
| **U.S. GOVERNMENT NOTES – 10.4%** |  |  |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, due 07/31/30 | 6600 | 6649 |
| &nbsp;&nbsp;&nbsp;3.50%, due 11/30/30 | 6000 | 5939 |
| &nbsp;&nbsp;&nbsp;3.875%, due 06/30/30 | 3920 | 3950 |
| &nbsp;&nbsp;&nbsp;4.00%, due 07/31/32 | 2150 | 2161 |
| &nbsp;&nbsp;&nbsp;4.25%, due 08/15/35 | 2000 | 2014 |
| &nbsp;&nbsp;&nbsp;4.00%, due 11/15/35 | 2000 | 1971 |
|  |  | 22684 |
| **Total Government and Agency Securities<br> (Cost $52,123)** |  | **50363** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – 16.0%** |  |  |
| Federal Home Loan Mortgage Corp., Pool SD6595 |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 10/01/54 | 3174 | 3251 |
| Federal National Mortgage Association, Pool CB8992 |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 08/01/54 | 2665 | 2722 |
| JP Morgan Mortgage Trust, Series 2025-CCM1-Class B2, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.093%, due 06/25/55 (a) (c) | 2283 | 2299 |
| Government National Mortgage Association REMICS, Seres 2023-164-Class BZ |  |  |
| &nbsp;&nbsp;&nbsp;6.00%, due 11/20/53 | 2039 | 2139 |
| Chase Home Lending Mortgage Trust, Series 2025-4-Class B1, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.626%, due 03/25/56 (a) (c) | 1980 | 2073 |
| JP Morgan Mortgage Trust, Series 2024-6-Class B2, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.90%, due 12/25/54 (a) (c) | 1959 | 2051 |
| GS Mortgage-Backed Securities Trust, Series 2025-PJ4-Class B1, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.469%, due 09/25/55 (a) (c) | 1982 | 2037 |
| Angel Oak Mortgage Trust, Series 2025-12-Class A2,144A |  |  |
| &nbsp;&nbsp;&nbsp;5.14%, due 12/25/70 (c) | 1983 | 1988 |
| GS Mortgage-Backed Securities Trust, Series 2025-PJ1-Class B2, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.183%, due 06/25/55 (a) (c) | 1966 | 1931 |

---

***Oakmark.com***

---

| | |
|:---|:---|
| **Oakmark Bond Fund** | **December 31, 2025 (Unaudited)** |
| ***Schedule of Investments (in thousands)*** | |

---

---

| | | |
|:---|:---|:---|
|  | Par Value | Value |
| **FIXED INCOME – 97.2% *(cont.)*** |  |  |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – 16.0% *(cont.)*** |  |  |
| Federal Home Loan Mortgage Corp. REMICS, Series 5408-Class QZ |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 04/25/54 | $1644 | $1666 |
| Federal Home Loan Mortgage Corp. REMICS, Series 5369-Class Z |  |  |
| &nbsp;&nbsp;&nbsp;6.00%, due 01/25/54 | 1127 | 1155 |
| JP Morgan Mortgage Trust, Series 2025 -9-Class B1, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.424%, due 03/25/56 (a) (c) | 998 | 1021 |
| JP Morgan Mortgage Trust, Series 2025-CCM2-Class B2, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.57%, due 09/25/55 (a) (c) | 990 | 1020 |
| JP Morgan Mortgage Trust, Series 2024-12-Class B2, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.626%, due 06/25/55 (a) (c) | 986 | 1017 |
| JP Morgan Mortgage Trust, Series 2025-NQM5-Class A2, 144A |  |  |
| &nbsp;&nbsp;&nbsp;5.133%, due 05/25/65 (c) | 1000 | 1000 |
| JP Morgan Mortgage Trust, Series 2025 NQM4-Class A2, 144A |  |  |
| &nbsp;&nbsp;&nbsp;5.157%, due 03/25/66 (c) | 977 | 977 |
| Angel Oak Mortgage Trust, Series 2025-9-Class A2,144A |  |  |
| &nbsp;&nbsp;&nbsp;5.395%, due 08/25/70 (c) | 967 | 971 |
| A&D Mortgage Trust, Series 2025-NQM3-Class A2, 144A |  |  |
| &nbsp;&nbsp;&nbsp;5.577%, due 08/25/70 (c) | 966 | 968 |
| Santander Mortgage Asset Receivable Trust, Series 2025-NQM4-Class A2, 144A |  |  |
| &nbsp;&nbsp;&nbsp;5.608%, due 07/25/65 (c) | 950 | 954 |
| OBX Trust, Series 2025-NQM15-Class A2, 144A |  |  |
| &nbsp;&nbsp;&nbsp;5.396%, due 07/27/65 (c) | 940 | 943 |
| JP Morgan Mortgage Trust, Series 2025-NQM3-Class A2, 144A |  |  |
| &nbsp;&nbsp;&nbsp;5.648%, due 11/25/65 (c) | 917 | 924 |
| OBX Trust, Series 2025-NQM13-Class A2, 144A |  |  |
| &nbsp;&nbsp;&nbsp;5.614%, due 05/25/65 (c) | 869 | 874 |
| Chase Home Lending Mortgage Trust, Series 2024-1-Class B1, 144A |  |  |
| &nbsp;&nbsp;&nbsp;6.656%, due 01/25/55 (a) (c) | 778 | 812 |
| **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS – 16.0%<br> (Cost $34,193)** |  | **34793** |
| **ASSET BACKED SECURITIES – 7.1%** |  |  |
| Santander Drive Auto Receivables Trust, Series 2025-4-Class D, |  |  |
| &nbsp;&nbsp;&nbsp;4.95%, due 01/15/32 | 2000 | 2007 |
| Carvana Auto Receivables Trust, Series 2024-P3-Class D, |  |  |
| &nbsp;&nbsp;&nbsp;5.39%, due 09/10/32 | 1320 | 1321 |
| Carvana Auto Receivables Trust, Series 2024-P4-Class D,, |  |  |
| &nbsp;&nbsp;&nbsp;5.60%, due 12/10/32 | 1250 | 1258 |
| CPS Auto Receivables Trust, Series 2024-C-Class E, 144A, |  |  |
| &nbsp;&nbsp;&nbsp;8.04%, due 03/15/32 (c) | 1000 | 1036 |
| Carvana Auto Receivables Trust, Series 2024-P2-Class D, |  |  |
| &nbsp;&nbsp;&nbsp;6.10%, due 06/10/31 | 1000 | 1027 |
| Exeter Automobile Receivables Trust, Series 2025-2A-Class D, |  |  |
| &nbsp;&nbsp;&nbsp;5.89%, due 07/15/31 | 1000 | 1024 |
| Exeter Automobile Receivables Trust, Series 2025-3A-Class D, |  |  |
| &nbsp;&nbsp;&nbsp;5.57%, due 10/15/31 | 1000 | 1019 |
| Westlake Automobile Receivables Trust, Series 2025-2A-Class D, 144A, |  |  |
| &nbsp;&nbsp;&nbsp;5.08%, due 05/15/31 (c) | 1000 | 1008 |
| Exeter Automobile Receivables Trust, Series 2025-5A-Class D, |  |  |
| &nbsp;&nbsp;&nbsp;5.16%, due 03/15/32 | 1000 | 1007 |
| Carmax Auto Owner Trust, Series 2025-4-Class D, |  |  |
| &nbsp;&nbsp;&nbsp;5.11%, due 05/17/32 | 1000 | 1000 |
| CPS Auto Receivables Trust, Series 2022-C-Class E, 144A, |  |  |
| &nbsp;&nbsp;&nbsp;9.08%, due 04/15/30 (c) | 750 | 786 |
| Sierra Timeshare Receivables Funding LLC, Series 2025-1A-Class D, 144A, |  |  |
| &nbsp;&nbsp;&nbsp;6.86%, due 01/21/42 (c) | 604 | 609 |
| Flagship Credit Auto Trust, Series 2022-1-Class E, 144A, |  |  |
| &nbsp;&nbsp;&nbsp;5.37%, due 06/15/29 (c) | 750 | 546 |
| Sierra Timeshare Receivables Funding LLC, Series 2023-2A-Class C, 144A, |  |  |
| &nbsp;&nbsp;&nbsp;7.30%, due 04/20/40 (c) | 525 | 545 |
| Sierra Timeshare Receivables Funding LLC, Series 2024-3A-Class C, 144A, |  |  |
| &nbsp;&nbsp;&nbsp;5.32%, due 08/20/41 (c) | 488 | 491 |
| Sierra Timeshare Receivables Funding LLC, Series 2023-2A-Class D, 144A, |  |  |
| &nbsp;&nbsp;&nbsp;9.72%, due 04/20/40 (c) | 296 | 312 |
| Sierra Timeshare Receivables Funding LLC, Series 2024-2A-Class D, 144A, |  |  |
| &nbsp;&nbsp;&nbsp;7.48%, due 06/20/41 (c) | 283 | 287 |
| Sierra Timeshare Receivables Funding LLC, Series 2022-2A-Class D, 144A, |  |  |
| &nbsp;&nbsp;&nbsp;9.22%, due 06/20/40 (c) | 128 | 131 |
| **Total Asset Backed Securities<br> (Cost $15,184)** |  | **15414** |
| **MORTGAGE-BACKED SECURITIES – 6.0%** |  |  |
| Federal National Mortgage Association, Pool FS8007 |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 06/01/54 | 3043 | 3110 |
| Federal Home Loan Mortgage Corp., Pool SD3470 |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, due 06/01/52 | 3293 | 2845 |

---

**OAKMARK FUNDS**

---

| | |
|:---|:---|
| **Oakmark Bond Fund** | **December 31, 2025 (Unaudited)** |
| ***Schedule of Investments (in thousands)*** | |

---

---

| | | |
|:---|:---|:---|
|  | Par Value | Value |
| **FIXED INCOME – 97.2% *(cont.)*** |  |  |
| **MORTGAGE-BACKED SECURITIES – 6.0% *(cont.)*** |  |  |
| Federal Home Loan Mortgage Corp., Pool RJ2202 |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 08/01/54 | $1877 | $1917 |
| Federal National Mortgage Association, Pool FA0201 |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 12/01/54 | 1865 | 1896 |
| Federal Home Loan Mortgage Corp., Pool SD6569 |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 10/01/54 | 1796 | 1832 |
| Federal National Mortgage Association, Pool CB0830 |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, due 06/01/51 | 1740 | 1505 |
| **TOTAL MORTGAGE-BACKED SECURITIES – 6.0%<br> (Cost $12,838)** |  | **13105** |
| **BANK LOANS (d) – 4.7%** |  |  |
| **CONSUMER STAPLES – 2.0%** |  |  |
| Wand NewCo 3, Inc. 2025 Repriced Term Loan B |  |  |
| &nbsp;&nbsp;&nbsp;6.216% (1 mo. USD Term SOFR + 2.500%), due 01/30/31 (a) | 1409 | 1409 |
| Boost Newco Borrower LLC 2025 USD Term Loan B2 |  |  |
| &nbsp;&nbsp;&nbsp;5.672% (3 mo. USD Term SOFR + 2.000%), due 01/31/31 (a) | 1485 | 1486 |
| Belron Finance 2019 LLC 2025 Repriced Term Loan B |  |  |
| &nbsp;&nbsp;&nbsp;6.120% (3 mo. USD Term SOFR + 2.250%), due 10/16/31 (a) | 1481 | 1489 |
|  |  | 4384 |
| **CONSUMER DISCRETIONARY – 1.5%** |  |  |
| Peer Holding III BV 2025 USD Term Loan B4B |  |  |
| &nbsp;&nbsp;&nbsp;6.172% (3 mo. USD Term SOFR + 2.500%), due 10/28/30 (a) | 1474 | 1479 |
| SkyMiles IP Ltd. 2025 Repriced Term Loan B |  |  |
| &nbsp;&nbsp;&nbsp;5.384% (3 mo. USD Term SOFR + 1.500%), due 10/20/28 (a) | 276 | 278 |
| Raising Cane's Restaurants LLC 2025 Term Loan B |  |  |
| &nbsp;&nbsp;&nbsp;5.843% (1 mo. USD Term SOFR + 2.000%), due 11/03/32 (a) | 1500 | 1503 |
|  |  | 3260 |
| **INDUSTRIALS – 0.7%** |  |  |
| Clydesdale Acquisition Holdings, Inc. 2025 Term Loan B |  |  |
| &nbsp;&nbsp;&nbsp;6.966% (1 mo. USD Term SOFR + 3.250%), due 04/01/32 (a) | 1488 | 1487 |
| **FINANCIALS – 0.5%** |  |  |
| Blackstone Mortgage Trust, Inc. 2025 Term Loan B6 |  |  |
| &nbsp;&nbsp;&nbsp;6.716% (1 mo. USD Term SOFR + 3.000%), due 12/10/30 (a) | 993 | 996 |
| **Total Bank Loans<br> (Cost $10,084)** |  | **10127** |
| **TOTAL FIXED INCOME – 97.2%<br> (Cost $210,332)** |  | **211089** |
| **SHORT-TERM INVESTMENTS – 2.1%** |  |  |
| **REPURCHASE AGREEMENT – 2.1%** |  |  |
| Fixed Income Clearing Corp. Repurchase Agreement, 3.80% dated 12/31/25 due 1/2/26, repurchase price $4,440, collateralized by a United States Treasury Note, 3.750% due 6/30/27, value plus accrued interest of $4,528 (Cost: $4,439) | 4439 | 4439 |
| **TOTAL SHORT-TERM INVESTMENTS – 2.1%<br> (Cost $4,439)** |  | **4439** |
| **TOTAL INVESTMENTS – 99.3%<br> (Cost $214,771)** |  | **215528** |
| Other Assets In Excess of Liabilities – 0.7% |  | 1498 |
| **NET ASSETS – 100.0%** |  | $**217026** |

---

(a) Floating
Rate Note. Rate shown is as of December 31, 2025.

(b) Security
is perpetual and has no stated maturity date.

(c) Security
exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold, normally only
to qualified institutional buyers. At December 31, 2025, the value of Rule 144A holdings amounted to $58,378 (in thousands)
or 26.90% of net assets.

(d) Bank
loans generally are subject to mandatory and/or optional prepayment. As a result, the actual remaining maturity of bank loans may be
substantially less than the stated maturities shown.

Abbreviations:

SOFR: Secured Overnight Financing Rate

***Oakmark.com***

**THE OAKMARK FUNDS**

**Notes to Schedules of Investments (Unaudited)**

**1. ORGANIZATION**

The following are the significant accounting policies of Oakmark Fund ("Oakmark"), Oakmark Select Fund ("Select"), Oakmark Global Fund ("Global"), Oakmark Global Select Fund ("Global Select"), Oakmark International Fund ("International"), Oakmark International Small Cap Fund ("Int'l Small Cap"), Oakmark Equity and Income Fund ("Equity and Income") and Oakmark Bond Fund ("Bond"), each a "Fund" and collectively the "Funds". Each Fund is a series of Harris Associates Investment Trust (the "Trust"), a Massachusetts business trust, organized on February 1, 1991, which is registered as an open-end management investment company under the Investment Company Act of 1940, as amended (the "1940 Act") and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 946 Financial Services— Investment Companies. Each Fund, other than Select and Global Select, is diversified in accordance with the 1940 Act. The following policies are in conformity with accounting principles generally accepted in the United States of America ("GAAP").

**2. SIGNIFICANT ACCOUNTING POLICIES**

**Security valuation**

A Fund's share price is also called the net asset value (the "NAV") of a share. The NAV per share of each class of each Fund is normally determined by the Funds' custodian as of the close of regular session trading (usually 4:00 p.m. Eastern time) on the New York Stock Exchange (the "NYSE") on any day on which the NYSE is open for regular trading. If the NYSE is unexpectedly closed on a day it would normally be open for business, or if the NYSE has an unscheduled early closure, the Funds reserve the right to accept purchase and redemption orders and calculate their share price as of the normally scheduled close of regular trading on the NYSE for that day.

The NYSE is closed on Saturdays and Sundays and on New Year's Day, the third Mondays in January and February, Good Friday, the last Monday in May, Juneteenth, Independence Day, the first Monday in September, Thanksgiving, and Christmas. If one of these holidays falls on a Saturday or Sunday, the NYSE will be closed on the preceding Friday or the following Monday, respectively. A Fund's NAV will not be calculated on days when the NYSE is closed. The NAV of a class of Fund shares is determined by dividing the value of the assets attributable to that class, less liabilities attributable to that class, by the number of outstanding shares of that class.

Trading in securities of non-U.S. issuers takes place in various markets on some days and at times when the NYSE is not open for trading. In addition, securities of non-U.S. issuers may not trade on some days when the NYSE is open for trading. The value of the Funds' portfolio holdings may change on days when the NYSE is not open for trading and you cannot purchase or redeem Fund shares.

Equity securities principally traded on securities exchanges in the United States are valued at the last reported sale price or the official closing price as of the time of valuation on that exchange, or lacking a reported sale price on the principal exchange at the time of valuation, at the most recent bid quotation on the principal exchange. Each over-the-counter security traded on the NASDAQ National Market System shall be valued at the NASDAQ Official Closing Price ("NOCP"), or lacking a NOCP at the time of valuation, at the most recent bid quotation. Other over-the-counter securities are valued at the last sales prices at the time of valuation or, lacking any reported sales on that day, at the most recent bid quotations.

Each equity security principally traded on a securities exchange outside the United States shall be valued, depending on local convention or regulation, at the last sale price, the last bid or asked price, the mean between the last bid and asked prices, the official closing price, an auction price, or the pricing convention accepted as the official closing price by MSCI Inc, for their index calculations. If there are unexpected disruptions in the primary market or valuations from the primary market are deemed suspect, equity securities may be valued based on a pricing composite or valuations from another exchange as of the close of the regular trading hours on the appropriate exchange or other designated time.

Short-term debt instruments (i.e., debt instruments whose maturities or expiration dates at the time of acquisition are one year or less) or money market instruments are valued at the latest bid quotation or an evaluated price from an independent pricing service. If a bid quotation or evaluated price from a pricing vendor is not available for short-term debt instrument or money market instrument maturing in 60 days or less from date of valuation, such instruments are valued at amortized cost, which approximates market value.

Long-term debt instruments are valued at the latest bid quotation or at an evaluated price provided by an independent pricing service. The pricing service may use standard inputs, such as benchmark yields, reported trades, broker-dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data, including market research publications. For certain security types, additional inputs may be used or some of the standard inputs may not be applicable. Additionally, the pricing service monitors market indicators and industry and economic events, which may serve as a trigger to gather and possibly use additional market data.

Options are valued at the mean of the most recent bid and asked quotations. In the event an option is out of the money and no bid is available, a zero value may be assumed as the bid for purposes of calculating the mean of the most recent bid and ask quotations. In the event that designated pricing vendors are unable to provide valuations or timely valuations for Flexible Exchange ("FLEX") options on a given day, each FLEX option purchased or written may be valued using the Option Valuation ("OVME") function on Bloomberg. The OVME function requires objective inputs (strike price, exercise style and expiration dates) to derive a valuation using Bloomberg's proprietary calculations. If FLEX options are valued using the OVME function, they shall be valued at the mid of the buy and sell valuations produced by OVME.

To the extent available, prices for all portfolio investments held by the Funds shall be obtained from one or more pricing vendors designated by the custodian. If values or prices are not readily available or are deemed unreliable, or if an event that is expected to affect the value of a portfolio security occurs after the close of the primary market or exchange on which that security is traded and before the close of the NYSE, the security will be valued at a fair value determined in good faith in accordance with the Funds' valuation procedures approved by the Board. As permitted by Rule 2a-5 of the 1940 Act, the Board has designated the Adviser as the Funds' valuation designee (as defined in the rule). The valuation designee is responsible for determining fair value in good faith for any and all Fund investments, subject to oversight by the Board. The Funds may use a systematic fair valuation model provided by an independent pricing service to value securities of non-U.S. issuers in order to adjust for changes in value that may occur between the close of certain foreign exchanges and the NYSE. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at a current exchange price quoted by an independent pricing service or any major bank or dealer. If such quotations are not available, the rate of exchange will be determined in good faith in accordance with Fund policies and procedures. Although fair valuation may be more commonly used with equity securities of non-U.S. issuers, it also may be used in a range of other circumstances, including thinly-traded domestic securities or fixed-income securities. When fair value pricing is employed, the value of a portfolio security used by a Fund to calculate its NAV may differ from quoted or published prices for the same security.

**Fair value measurement**

Various inputs are used in determining the value of each Fund's investments. These inputs are prioritized into three broad levels as follows:

Level 1 –quoted prices in active markets for identical securities

Level 2 –other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk and others)

Level 3 –significant unobservable inputs (including the assumptions of the Adviser in determining the fair value of investments)

Observable inputs are those based on market data obtained from independent sources and unobservable inputs reflect the Adviser's own assumptions based on the best information available. The input levels are not necessarily an indication of risk or liquidity associated with investing in those securities.

The following is a summary of the inputs used as of December 31, 2025, in valuing each Fund's assets and liabilities**.** Except for the industries or investment types separately stated below, the total amounts for common stocks, fixed income and short-term investments in the table below are presented by industry or investment type in each Fund's Schedule of Investments. Information on forward foreign currency contracts is presented in each Fund's Schedule of Investments.

---

| | | | |
|:---|:---|:---|:---|
| **(in thousands)** | **Quoted Prices**<br> **in Active**<br> **Markets for<br> Identical<br> Assets**<br> **(Level 1)** | **Other<br> Significant<br> Observable<br> Inputs**<br> **(Level 2)** | **Significant<br> Unobservable**<br> **Inputs**<br> **(Level 3)** |
| **Oakmark** |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks | $24223959 | $0 | $0 |
| &nbsp;&nbsp;&nbsp;Call Options Purchased | 3335 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;Short-Term Investments | 0 | 1479194 | 0 |
| &nbsp;&nbsp;&nbsp;Common Stocks Sold Short | (666) | 0 | 0 |
| &nbsp;&nbsp;&nbsp;Call Options Written —Liabilities | (5410) | 0 | 0 |
| &nbsp;&nbsp;&nbsp;Put Options Written —Liabilities | (5872) | 0 | 0 |
| &nbsp;&nbsp;&nbsp;Total | $24215346 | $1479194 | $0 |
| **Select** |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks | $7788946 | $0 | $0 |
| &nbsp;&nbsp;&nbsp;Short-Term Investments | 0 | 400927 | 0 |
| &nbsp;&nbsp;&nbsp;Call Options Written —Liabilities | (19813) | 0 | 0 |
| &nbsp;&nbsp;&nbsp;Total | $7769133 | $400927 | $0 |
| **Global** |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks | $869245 | $241621 | $0 |
| &nbsp;&nbsp;&nbsp;Short-Term Investments | 0 | 6498 | 0 |
| &nbsp;&nbsp;&nbsp;Total | $869245 | $248119 | $0 |
| **Global Select** |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks | $845265 | $126133 | $0 |
| &nbsp;&nbsp;&nbsp;Short-Term Investments | 0 | 35602 | 0 |
| &nbsp;&nbsp;&nbsp;Total | $845265 | $161735 | $0 |
| **International** |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks | $8333533 | $5493442 | $0 |
| &nbsp;&nbsp;&nbsp;Preferred Stocks | 0 | 266307 | 0 |
| &nbsp;&nbsp;&nbsp;Short-Term Investments | 0 | 354526 | 0 |
| &nbsp;&nbsp;&nbsp;Total | $8333533 | $6114275 | $0 |
| **Int'l Small Cap** |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks | $437463 | $809712 | $0 |
| &nbsp;&nbsp;&nbsp;Preferred Stocks | 0 | 11135 | 0 |
| &nbsp;&nbsp;&nbsp;Short-Term Investments | 0 | 37158 | 0 |
| &nbsp;&nbsp;&nbsp;Total | $437463 | $858005 | $0 |
| **Equity and Income** |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks | $3723979 | $0 | $0 |
| &nbsp;&nbsp;&nbsp;Corporate Bonds |  | 1048721 |  |
| &nbsp;&nbsp;&nbsp;Collateralized Mortgage Obligations |  | 451125 |  |

---

---

| | | | |
|:---|:---|:---|:---|
| **(in thousands)** | **Quoted Prices**<br> **in Active**<br> **Markets for<br> Identical<br> Assets**<br> **(Level 1)** | **Other<br> Significant<br> Observable<br> Inputs**<br> **(Level 2)** | **Significant<br> Unobservable**<br> **Inputs**<br> **(Level 3)** |
| **Equity and Income** |  |  |  |
| &nbsp;&nbsp;&nbsp;Government and Agency Securities |  | 329764 |  |
| &nbsp;&nbsp;&nbsp;Mortgage-Backed Securities |  | 301620 |  |
| &nbsp;&nbsp;&nbsp;Asset Backed Securities |  | 128348 |  |
| &nbsp;&nbsp;&nbsp;Bank Loans |  | 107400 |  |
| &nbsp;&nbsp;&nbsp;Short-Term Investments |  | 98535 |  |
| &nbsp;&nbsp;&nbsp;Call Options Written - Liabilities | (1641) | - | - |
|  | $3722338 | $2465513 | $0 |
| **Bond** |  |  |  |
| &nbsp;&nbsp;&nbsp;Corporate Bonds |  | $87287 |  |
| &nbsp;&nbsp;&nbsp;Government and Agency Securities |  | 50363 |  |
| &nbsp;&nbsp;&nbsp;Collateralized Mortgage Obligations |  | 34793 |  |
| &nbsp;&nbsp;&nbsp;Asset Backed Securities |  | 15414 |  |
| &nbsp;&nbsp;&nbsp;Mortgage-Backed Securities |  | 13105 |  |
| &nbsp;&nbsp;&nbsp;Bank Loans |  | 10127 |  |
| &nbsp;&nbsp;&nbsp;Short-Term Investments | - | 4439 | - |
|  | $0 | $215528 | $0 |

---

**Foreign currency translations**

Certain Funds invest in foreign securities, which may involve a number of risk factors and special considerations not present with investments in securities of U.S. corporations. Values of investments and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars at current exchange rates obtained by a recognized bank, dealer or independent pricing service on the day of valuation. Purchases and sales of investments and dividend and interest income are converted at the prevailing rate of exchange on the respective dates of such transactions.

**Forward foreign currency contracts**

Forward foreign currency contracts are agreements to exchange one currency for another at a future date and at a specified price. The Funds' transactions in forward foreign currency contracts are limited to transaction and portfolio hedging. The contractual amounts of forward foreign currency contracts do not necessarily represent the amounts potentially subject to risk. The measurement of the risks associated with these instruments is meaningful only when all related and offsetting transactions are considered and could exceed the net unrealized value shown in the tables below. Risks arise from the possible inability of counterparties to meet the terms of their contracts and from movements in currency values. Forward foreign currency contracts are valued at the current day's interpolated foreign exchange rates. Unrealized gain or loss on the contracts, as measured by the difference between the forward foreign exchange rates at the dates of entry into the contracts and the forward rates at the end of the period. At December 31, 2025, none of the Funds engaged in forward foreign currency contracts.

**Short sales**

Each Fund may sell a security it does not own in anticipation of a decline in the fair value of that security. When a Fund sells a security short, it must borrow the security sold short and deliver it to the broker-dealer through which it made the short sale. A gain, limited to the price at which the Fund sold the security short, or loss, unlimited in size, will be recognized upon the termination of the short sale. Each Fund may sell shares of when-issued securities. Typically, a Fund sells when-issued securities when a company announces a spin-off or re-organization, and the post spin-off or post reorganization shares begin trading on a when-issued basis prior to the effective date of the corporate action. A sale of a when-issued security is treated as a short sale under the U.S. Generally Accepted Accounting Principles. After the effective date, when shares of the new company are received, any shares sold on a when-issued basis will be delivered to the counterparty. Short sales outstanding, if any, are listed on each Fund's Schedule of Investments.

**When-issued or delayed-delivery securities**

Each Fund may purchase securities on a when-issued or delayed-delivery basis. At December 31, 2025, each Fund qualifies as a limited derivatives user under Rule 18f-4 of the 1940 Act and has adopted policies and procedures to manage its derivatives risk. Although the payment and interest terms of these securities are established at the time a Fund enters into the commitment, the securities may be delivered and paid for a month or more after the date of purchase when their value may have changed. A Fund makes such commitments only with the intention of actually acquiring the securities, but may sell the securities before the settlement date if the Adviser deems it advisable for investment reasons. When-issued securities outstanding, if any, are listed on each Fund's Schedule of Investments.

**Accounting for options**

When a Fund writes an option, the premium received by the Fund is recorded as a liability and is subsequently adjusted to the current fair value of the option written. Premiums received from writing options that expire are recorded by the Fund on the expiration date as realized gains from option transactions. The difference between the premium and the amount paid on effecting a closing purchase transaction, including brokerage commissions, is also treated as a realized gain, or if the premium is less than the amount paid for the closing purchase transaction, as a realized loss. If a call option is exercised, the premium is added to the proceeds from the sale of the underlying security or currency in determining whether the Fund has realized a gain or a loss. If a put option is exercised, the premium reduces the cost basis of the security or currency purchased by the Fund. In writing an option, the Fund bears the market risk of an unfavorable change in the price of the security or currency underlying the written option. As the writer of a covered call option on a security, a Fund foregoes, during the option's life, the opportunity to profit from increases in the market value of the security covering the call option above the sum of the premium and the exercise price of the call. Exercise of an option written by the Fund could result in the Fund selling or buying a security or currency at a price different from the current fair value. Options written by the Fund do not give rise to counterparty credit risk, as they obligate the Fund, not its counterparties, to perform.

When a Fund purchases an option, the premium paid by the Fund is recorded as an asset and is subsequently adjusted to the current fair value of the option purchased. Purchasing call options tends to increase the Fund's exposure to the underlying instrument. Purchasing put options tends to decrease the Fund's exposure to the underlying instrument. Premiums paid for purchasing options that expire are treated as realized losses. Premiums paid for purchasing options that are exercised or closed are added to the amounts paid or offset against the proceeds on the underlying security to determine the realized gain or loss. The risks associated with purchasing put and call options are potential loss of the premium paid and, in the instances of OTC derivatives, the failure of the counterparty to honor its obligation under the contract.

Oakmark and Select used purchased options for tax management and as an investment strategy in an effort to increase the Funds' returns during the period ended December 31, 2025. Purchased options outstanding, if any, are listed on each Fund's Schedule of Investments.

Oakmark, Select and Equity and Income used options written for tax management and as an investment strategy in an effort to increase the Funds' returns during the period ended December 31, 2025. Written options outstanding, if any, are listed on each Fund's Schedule of Investments.

For the period ended December 31, 2025, the amount of premiums paid (received) for equity options purchased and written are listed by Fund in the table below (in thousands):

---

| | | |
|:---|:---|:---|
| <br>**Fund** | **Equity**<br>**Options**<br>**Purchased** | **Equity**<br>**Options**<br>**Written** |
| Oakmark | $37861 | $(55475) |
| Select | 9575 | (20084) |
| Equity and Income | 0 | (3188) |

---

**Repurchase agreements**

Each Fund may invest in repurchase agreements, which are short-term investments whereby the Fund acquires ownership of a debt security and the seller agrees to repurchase the security at a future date at a specified price.

The Funds' custodian receives delivery of the underlying securities collateralizing repurchase agreements. It is the Funds' policy that the value of the collateral be at least equal to 102% of the repurchase price, including interest. The Adviser is responsible for determining that the value of the collateral is at all times at least equal to 102% of the repurchase price, including interest. Repurchase agreements could involve certain risks in the event of default or insolvency of the counterparty, including possible delays or restrictions upon a Fund's ability to dispose of the underlying securities. At December 31, 2025, all of the Funds held repurchase agreements.

**Security lending**

Each Fund may lend its portfolio securities to broker-dealers and banks. Any such loan must be continuously secured by collateral in cash, cash equivalents, or U.S. Treasury or agency securities maintained on a current basis in an amount at least equal to the fair value of the securities loaned by a Fund. The Fund would continue to receive the equivalent of the interest or dividends paid by the issuer on the securities loaned and would also receive an additional return that may be in the form of a fixed fee or a percentage of the earnings on the collateral. The Fund has the right to call the loan and attempt to obtain the securities loaned at any time on notice of not more than five business days. In the event of bankruptcy or other default of the borrower, the Fund could experience delays in liquidating the loan collateral or recovering the loaned securities and incur expenses related to enforcing its rights. There could also be a decline in the value of the collateral or in the fair value of the securities loaned while the Fund seeks to enforce its rights thereto and the Fund could experience subnormal levels of income or lack of access to income during that period. A Fund may not exercise proxy voting rights for a security that is on loan if it is unable to recall the security prior to the record date. The Trust, on behalf of the Funds, has entered into an agreement with State Street to serve as its agent for the purpose of lending securities and maintaining the collateral account. At December 31, 2025, none of the Funds had securities on loan.

**3. INVESTMENTS IN AFFILIATED ISSUERS**

A company was considered to be an affiliate of a Fund because that Fund owned 5% or more of the company's voting securities during all or part of the period ended December 31, 2025. Purchase and sale transactions and dividend and interest income earned during the period on these securities are listed after the applicable Fund's Schedule of Investments.

**4. SUBSEQUENT EVENTS**

The Adviser has evaluated the possibility of subsequent events existing in the Funds' Schedules of Investments. The Adviser has determined that there are no material events that would require adjustment or disclosure in the Funds' Schedules of Investments through the date of the publication of this report.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** HARRIS ASSOCIATES INVESTMENT TRUST

- **b. Investment Company Act file number:** 811-06279

- **c. CIK number of Registrant:** 0000872323

- **d. LEI of Registrant:** 54930037R1JTV3ZYFY28

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** HARRIS ASSOCIATES LP

  - **City:** CHICAGO

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60606

  - **Telephone number:** 312-646-3600

**Item A.2. Information about the Series.**

- **a. Name of Series:** Oakmark Select Fund

- **b. EDGAR series identifier (if any):** S000002759

- **c. LEI of Series:** 549300UOE1YY4OO8B704

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $8205247138.70

**Total Liabilities:** $33740037.54

**Net Assets:** $8171507101.16

**Cash Not Reported:** $0.04

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000007556 | 0.90%                | 1.99%                | 5.35%                |
| Class ID C000174797 | 0.91%                | 2.00%                | 5.37%                |
| Class ID C000174798 | 0.92%                | 2.01%                | 5.38%                |
| Class ID C000225885 | 0.92%                | 2.02%                | 5.37%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $29655902.73             | $38754722.93                               |
| Month 2  | $10867737.88             | $131750520.38                              |
| Month 3  | $103506638.74            | $331655043.98                              |

### Schedule of Portfolio Investments

| Name                                         | Title                                        | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Airbnb Inc                                   | Airbnb Inc                                   | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |   2804900 | NS      | $380681028.00 | 4.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Ally Financial Inc                           | Ally Financial Inc                           | CUSIP: 02005N100<br>LEI: 549300JBN1OSM8YNAI90 | Long             | EC               | CORP              | US        |   6047800 | NS      | $273904862.00 | 3.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                                 | Alphabet Inc                                 | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |   1028320 | NS      | $321864160.00 | 3.94%             |  |  |  | No            |                  1 | On Loan: No      |
| APA Corp                                     | APA Corp                                     | CUSIP: 03743Q108<br>LEI: 549300VCIWLRHYVSHC79 | Long             | EC               | CORP              | US        |   5605200 | NS      | $137103192.00 | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE Group Inc                               | CBRE Group Inc                               | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |   1689752 | NS      | $271695224.08 | 3.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital One Financial Corp                   | Capital One Financial Corp                   | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |   1435097 | NS      | $347810108.92 | 4.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Centene Corp                                 | Centene Corp                                 | CUSIP: 15135B101<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | EC               | CORP              | US        |   5864000 | NS      | $241303600.00 | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles River Laboratories International Inc | Charles River Laboratories International Inc | CUSIP: 159864107<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | EC               | CORP              | US        |   1004000 | NS      | $200277920.00 | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                               | ConocoPhillips                               | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |   2744912 | NS      | $256951212.32 | 3.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Co                                   | Deere & Co                                   | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |    525700 | NS      | $244750149.00 | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Equifax Inc                                  | Equifax Inc                                  | CUSIP: 294429105<br>LEI: 5493004MCF8JDC86VS77 | Long             | EC               | CORP              | US        |   1271000 | NS      | $275781580.00 | 3.37%             |  |  |  | No            |                  1 | On Loan: No      |
| First Citizens BancShares Inc/NC             | First Citizens BancShares Inc/NC             | CUSIP: 31946M103<br>LEI: 549300N3Z00ZHE2XC526 | Long             | EC               | CORP              | US        |    266012 | NS      | $570909634.16 | 6.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Intercontinental Exchange Inc                | Intercontinental Exchange Inc                | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |   2511853 | NS      | $406819711.88 | 4.98%             |  |  |  | No            |                  1 | On Loan: No      |
| IQVIA Holdings Inc                           | IQVIA Holdings Inc                           | CUSIP: 46266C105<br>LEI: 549300W3R20NM4KQPH86 | Long             | EC               | CORP              | US        |   2106400 | NS      | $474803624.00 | 5.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Keurig Dr Pepper Inc                         | Keurig Dr Pepper Inc                         | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |  16565598 | NS      | $464002399.98 | 5.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Lithia Motors Inc                            | Lithia Motors Inc                            | CUSIP: 536797103<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | EC               | CORP              | US        |   1309100 | NS      | $435053203.00 | 5.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Molina Healthcare Inc                        | Molina Healthcare Inc                        | CUSIP: 60855R100<br>LEI: 549300NQQCEQ46YHZ591 | Long             | EC               | CORP              | US        |    867000 | NS      | $150459180.00 | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Paycom Software Inc                          | Paycom Software Inc                          | CUSIP: 70432V102<br>LEI: 254900LSB0HNJUDC6Q18 | Long             | EC               | CORP              | US        |   1974700 | NS      | $314688192.00 | 3.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips 66                                  | Phillips 66                                  | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |   2322700 | NS      | $299721208.00 | 3.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc                               | Salesforce Inc                               | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |   1817000 | NS      | $481341470.00 | 5.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles Schwab Corp/The                      | Charles Schwab Corp/The                      | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |   3229240 | NS      | $322633368.40 | 3.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Fixed Income Clearing Corp                   | FIXED INC CLEARING CORP.REPO                 | CUSIP: 000000000<br>LEI: 549300H47WTHXPU08X20 | Long             | RA               | CORP              | US        | 400927407 | PA      | $400927406.60 | 4.91%             |  |  |  | No            |                  2 | On Loan: No      |
| Targa Resources Corp                         | Targa Resources Corp                         | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Long             | EC               | CORP              | US        |   1186000 | NS      | $218817000.00 | 2.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Warner Bros Discovery Inc                    | Warner Bros Discovery Inc                    | CUSIP: 934423104<br>LEI: 5493006ZCRFWKF6B1K26 | Long             | EC               | CORP              | US        |  17572000 | NS      | $506425040.00 | 6.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | ALPHABET INC                                 | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |     -2500 | NC      | $-2412500.00  | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | WARNER BROS DISCOVERY INC                    | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |    -40000 | NC      | $-17400000.00 | -0.21%            |  |  |  | No            |                  1 | On Loan: No      |
| ICON PLC                                     | ICON PLC                                     | CUSIP: 000000000<br>LEI: 6354008SRQGEMC4XFI67 | Long             | EC               | CORP              | IE        |   1049000 | NS      | $191148780.00 | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-30

**Name of Applicant:** HARRIS ASSOCIATES INVESTMENT TRUST

**Signature:** Zachary Weber

**Name of Signer:** Zachary Weber

**Title:** Chief Financial Officer