The Oakmark Global Fund Overview

THE OAKMARK GLOBAL FUND
Overview | Performance | NAV | Distributions | Commentary

How the Fund Invests | Top 10 Holdings | Portfolio Characteristics
Sector Distributions | Account Minimums | Portfolio Managers
Geographic Distributions

How The Fund Invests

Each Oakmark fund applies the same value investment philosophy and process to different market segments, sectors, size companies, and geographic regions to achieve specified goals.

The Oakmark Global Fund blends domestic and international securities by seeking value both here in the U.S. and around the world. The Fund has the ability to invest in companies of all sizes--small, medium, and large.

Top 10 Equity Holdings as of 9/30/2009

Security	Country	Percent of Net Assets
Television Francaise 1	France	4.88 %
Julius Baer Group	Switzerland	4.36 %
Snap-On	United States	4.05 %
Lab Corp of America	United States	3.96 %
Oracle	United States	3.72 %
Bulgari	Italy	3.57 %
UBS	Switzerland	3.36 %
Richemont	Switzerland	3.29 %
Neopost	France	3.26 %
Daiwa Securities Group	Japan	3.18 %

Total Percentage in Top 10 Holdings		37.63 %
Total Number of Equity Holdings		38
Assets Under Management		$1,730,265,246

(View the full list of equity holdings as of the most recent quarter-end.)

Portfolio Characteristics as of 9/30/2009

Current Price to Earnings Ratio (Current P/E)		15.6
Projected P/E		18.7
P/E of MSCI World Index		25.2
P/E Relative to MSCI World Index		62%
Median Market Cap		$8,587 M
Average Market Cap		$24,473 M
Weighted Average Market Cap		$27,163 M
Number of Holdings		38
Beta vs. MSCI World Index		1.054
Standard Deviation		20.1%
Turnover Rate (as of 9/30/2009)		32%
Annual Operating Expenses (as of 9/30/2008) - Class I		1.16%
Redemption Fee (on shares held 90 days or less) - Class I		2%

Ticker		OAKGX
CUSIP		413838830
Total Net Assets		$1.7 B
Inception Date		8/4/1999

Account Minimums

Regular Account		$1,000
IRA Account (Roth/Traditional)		$1,000
Education Savings Account		$500
UGMA/UTMA Account		$1,000
Subsequent Investments		$100

Account Minimums with Automatic Investment Plan:
To Open an Account		$500
Monthly Investment		$100

Equity Sector Breakdowns as of 9/30/2009

Sector Percent of Net Assets

Information Technology 24.7 %

Consumer Discretionary 21.8 %

Industrials 17.3 %

Financials 15.3 %

Health Care 9.1 %

Energy 5.1 %

Consumer Staples 2.3 %

Materials 1.4 %

Geographic Distributions as of 9/30/2009
Untitled Document

Percent of Net Assets

EUROPE
47.8%

Switzerland

20.0%

France

8.1%

Germany

7.5%

Ireland

4.2%

Italy

3.6%

United Kingdom

2.3%

Sweden

2.1%

UNITED STATES
30.1%

ASIA
16.8%

Japan

16.8%

NORTH AMERICA
2.4%

Canada

2.4%

Portfolio Managers

Clyde McGregor
Clyde is a Portfolio Manager of the Oakmark Equity and Income fund, the Oakmark Global fund, and numerous separate accounts for Harris Associates. Prior to joining Harris Associates in 1981, he was an analyst and portfolio manager with The Northern Trust Company. Clyde has a B.A. in Economics and Religion from Oberlin College (1974) and M.B.A. in Finance from the University of Wisconsin-Madison (1977). He has thirty-two years of investment experience and is a CFA charterholder�.

Rob Taylor
Robert Taylor is a Portfolio Manager of the Oakmark International fund, the Oakmark Global fund, Director of International Research, and Portfolio Manager of several international and global portfolios. He joined Harris Associates in 1994 and has over fifteen years of investment experience. Rob received his BBA from the University of Wisconsin-Madison (1994) and is a CFA charterholder�.

Portfolio holdings are subject to change and are not intended as recommendations of individual stocks.

Investing in value stocks presents the risk that value stocks may fall out of favor with investors and underperform growth stocks during given periods.

The Price-Earnings Ratio ("P/E") is the most common measure of how expensive a stock is.

Market Cap is the market price of an entire company, calculated by multiplying the number of shares outstanding by the price per share.

Beta is a quantitative measure of the volatility of a given stock, mutual fund, or portfolio, relative to the overall market, usually the S&P 500. A beta above 1 is generally more volatile than the overall market, while a beta below 1 is generally less volatile.

Standard Deviation is a statistical measure of the historical volatility of a mutual fund or portfolio, usually computed using 36 monthly returns.

The MSCI World Index (Net) is a free float-adjusted market capitalization weighted index that is designed to measure the global equity market performance of developed markets. This benchmark calculates reinvested dividends net of withholding taxes using Luxembourg tax rates. This index is unmanaged and investors cannot actually make investments in this index.

Investing in foreign securities presents risks that in some way may be greater than U.S. investments. Those risks include: currency fluctuation; different regulation, accounting standards, trading practices and levels of available information; generally higher transaction costs; and political risks.

For more information on The Oakmark Funds, including a prospectus which explains management fees and expenses and the special risks of investing in the Funds, please call 1-800-OAKMARK. Click here to view the prospectus on-line. Please read it carefully before investing. An investor should consider a fund�s investment objectives, risks, and charges and expenses carefully before investing. This and other information about the Funds are contained in the Funds' prospectus.

OAKMARK, OAKMARK FUNDS, OAKMARK INTERNATIONAL, and OAKMARK and tree design are trademarks owned or registered by Harris Associates L.P. in the U.S. and/or other countries.

Copyright 2009, Harris Associates Securities L.P., Distributor, Member FINRA.