1 8 0 oakmark www com advised by harris associates lp march 31 2005 semi annual report the funds are distributed securities member nasd date of first use may president s letter summary information 2 fund expenses 4 commentary on and select 6 from portfolio managers 7 schedule investments 9 13 14 equity income 16 18 global 24 diversification chart 26 27 international small cap 32 33 34 35 41 42 43 financial statements assets liabilities 50 operations 52 changes in net 54 notes to 60 disclosure regarding investment advisory contract approval 77 philosophy
