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Oakmark Funds, advised by Harris Associates, released its “Oakmark Fund” fourth-quarter 2025 investor letter. The objective of the fund is to deliver capital appreciation by investing in diverse large-cap US companies. A copy of the letter can be downloaded here. In the quarter, the fund (investor class) outperformed the S&P 500 Index, returning 4.78% vs. 2.66% for the index. In addition, you can check the Fund’s top five holdings to determine its best picks for 2025.
In its fourth-quarter 2025 investor letter, Oakmark Fund highlighted stocks such as Amrize Ltd (NYSE:AMRZ). Amrize Ltd (NYSE:AMRZ) is a building materials company in North America. On January 13, 2026, Amrize Ltd (NYSE:AMRZ) stock closed at $56.44 per share. One-month return of Amrize Ltd (NYSE:AMRZ) was 5.42%, and YTD its shares gained 4.36% of their value. Amrize Ltd (NYSE:AMRZ) has a market capitalization of $31.216 billion.
Oakmark Fund stated the following regarding Amrize Ltd (NYSE:AMRZ) in its fourth quarter 2025 investor letter:
“Amrize Ltd (NYSE:AMRZ) is a leading producer of building materials and construction solutions, established following Holcim’s spin-off of its North American operations in June. As a standalone company, Amrize holds strong market positions—it is the largest cement producer, the second-largest commercial roofing products manufacturer and a top-five aggregates producer in the U.S. and Canada. The company benefits from pricing power due to its scale, advantaged regional footprint and tight supply dynamics. We also see long-term potential in the Building Envelope segment and believe there is a path to narrowing the margin gap to roofing peers. In our view, Amrize is a fundamentally strong business that is flying under the radar of most U.S. investors. This created the opportunity to invest alongside a proven management team focused on unlocking shareholder value.”
Amrize Ltd (NYSE:AMRZ) is not on our list of 30 Most Popular Stocks Among Hedge Funds. According to our database, 47 hedge fund portfolios held Amrize Ltd (NYSE:AMRZ) at the end of the third quarter, compared to 48 in the previous quarter. While we acknowledge the potential of Amrize Ltd (NYSE:AMRZ) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
In another article, we covered Amrize Ltd (NYSE:AMRZ) and shared the list of best cement stocks to buy according to analysts. In addition, please check out our hedge fund investor letters Q4 2025 page for more investor letters from hedge funds and other leading investors.