Oakmark Fund: Booking Holdings (BKNG) an Attractive Bet Despite Underperformance
The Oakmark Fund, in its Q2 2026 investor letter, highlighted Booking Holdings (BKNG) as an attractive bet, despite the fund's underperformance relative to the S&P 500.
Harris Oakmark's Oakmark Fund released its second-quarter 2026 investor letter, noting that Booking Holdings (BKNG) remains an attractive investment. The fund, which aims for capital appreciation through diversified large-cap US stocks, underperformed the S&P 500 Index during the quarter.
Recommendation Details
No specific price target change was mentioned for BKNG, but the fund emphasized the stock's appeal within its portfolio.
Fund's Rationale
The Oakmark Fund sees Booking Holdings as having strong competitive advantages in the online travel sector, with expectations of sustained global travel demand. The stock's valuation is also considered attractive relative to peers.
Fund Performance
In Q2 2026, the fund (investor class) underperformed the S&P 500 Index, though exact figures were not provided in the letter.
What It Means for Investors
The mention of BKNG signals the fund's confidence in the company's prospects, but investors should note the fund's underperformance, which may reflect broader market challenges or stock selection issues.
Frequently Asked Questions
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