Oakmark Global Fund cut its AstraZeneca stake in Q2 as US regulatory worries hit pharma. The fund's filing shows the move, and the sector's outlook remains uncertain.
Oakmark Global Fund reduced its position in AstraZeneca (AZN) during the second quarter of 2026, the fund's latest regulatory filing shows. The move follows US drug pricing and FDA oversight concerns that have pressured the pharmaceutical sector.
AstraZeneca generates roughly a third of its sales in the United States, making it sensitive to policy changes. The broader pharmaceutical industry has faced similar pressure, with the iShares US Pharmaceuticals ETF down 4% in the quarter.
Harris Associates, the fund's manager, did not comment on the portfolio changes. The filing did not disclose the new stake size or the percentage of assets AstraZeneca now represents.
AstraZeneca carries an AlphaScala Score of 44 out of 100, labeled "Mixed," reflecting the balance between its pipeline strength and regulatory pressure. The stock's score is available on the AZN stock page.
The fund's Q2 portfolio activity is available on the SEC's EDGAR system.
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