The best performing stock in the quarter was Forest Laboratories (Forest), up 54%. Forest has been an incredibly successful investment for the Oakmark Fund, and we offer our congratulations to the company’s board and management team for maximizing per-share value for shareholders. It has only been one year since we first wrote about our purchase of Forest, and since then, the share price has increased 149%. Please refer to the Oakmark Select commentary for a more detailed description of our tax-efficient sale strategy for Forest.
From Bill Nygren (Trades, Portfolio)'s Oakmark Fund first quarter 2014 commentary.
