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Soumya Eswaran
Tue, July 14, 2026 astatine 8:45 AM CDT 3 min read
Harris Oakmark precocious released its second-quarter 2026 capitalist missive for the "Oakmark Equity and Income Fund". A transcript of the missive tin beryllium downloaded here. Oakmark Equity and Income Fund aims to maximize returns portion preserving and enhancing capital. The portfolio consists of US equities and fixed-income securities. The allocation was 60.1% successful equities, 38.9% successful fixed income, and 1.0% cash. The Fund (Investor Class) underperformed the 60% S&P 500 / 40% Bloomberg U.S. Aggregate Bond Index successful the 4th and has outperformed since its inception. The equity information of the portfolio generated 6.84% compared to 15.20% for the S&P 500 Index. The fixed income portfolio returned 1.13% compared to the Bloomberg U.S. Aggregate Bond Index's 0.67% return. Investors continued to favour companies perceived to beryllium nonstop beneficiaries of AI spending successful a constrictive enactment environment. In this landscape, the steadfast remains focused connected owning undervalued companies alternatively than chasing the market's astir fashionable themes. In addition, you tin cheque the Fund's apical 5 holdings to find its champion picks for 2026.
In its Q2 2026 capitalist letter, Oakmark Equity and Income Fund highlighted Accenture plc (NYSE:ACN). Accenture plc (NYSE:ACN), a nonrecreational services institution that focuses connected consulting, technology, and outsourcing, detracted from the Fund's show during the quarter. On July 13, 2026, Accenture plc (NYSE:ACN) closed astatine $138.52 per share. One-month instrumentality of Accenture plc (NYSE:ACN) was -16.31%, and its shares mislaid 49.82% implicit the past 52 weeks. Accenture plc (NYSE:ACN) has a marketplace capitalization of $84.77 billion.
Oakmark Equity and Income Fund stated the pursuing regarding Accenture plc (NYSE:ACN) successful its Q2 2026 capitalist update:
"Accenture plc (NYSE:ACN) was the apical detractor during the quarter. Shares of the U.S.-listed IT services institution fell sharply aft fiscal third-quarter results showed weaker than expected bookings and a modestly beneath statement near-term gross outlook. The marketplace is treating these results arsenic impervious that AI is disrupting Accenture's concern model. We judge the weakness is owed to transitory alternatively than structural factors. As enterprises statesman to execute larger-scale translation projects tied to AI, we expect Accenture's gross maturation to accelerate. Accenture is profoundly embedded successful endeavor IT roadmaps, arsenic 195 of its apical 200 clients person worked with the steadfast for implicit a decennary and astir of those clients walk much than $100M annually. Shares present commercialized for little than 10x escaped currency travel and astatine the lowest P/E aggregate successful Accenture's 25-year past arsenic a nationalist company. We spot the shares arsenic importantly undervalued astatine the existent price."
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