Core Insights - Oakmark Select Fund outperformed the S&P 500 Index in Q4 2025, returning 8.42% compared to the index's 2.66% [1] - The fund's performance was driven by strong contributions from the communication services and financial sectors, while industrials negatively impacted performance [1] Company Overview: Targa Resources Corp. (NYSE:TRGP) - Targa Resources Corp. is a leading midstream natural gas and natural gas liquids (NGL) company, controlling 90% of the fractionation capacity in Mont Belvieu, the largest hub for NGLs globally [3] - The company generates approximately 90% of its earnings through multi-year fee-based arrangements, providing stability against market fluctuations [3] - As of January 13, 2026, Targa's stock closed at $180.28 with a market capitalization of $38.795 billion [2] Performance Metrics - Targa Resources Corp. experienced a one-month return of -1.15% and a 52-week decline of 12.27% [2] - Despite recent pressures from uncertainty around Permian oil production growth, Targa is viewed as well-positioned for future growth [3] Investment Sentiment - Targa Resources Corp. was held by 50 hedge fund portfolios at the end of Q3 2025, an increase from 48 in the previous quarter, indicating growing interest [4] - However, there are opinions suggesting that certain AI stocks may offer greater upside potential compared to Targa Resources Corp. [4]

Group 1 - Oakmark Fund underperformed the S&P 500 Index in Q3 2025 but has outperformed the benchmark since inception [1] - Financials and energy sectors were the largest contributors to the fund's performance, while health care and consumer staples detracted [1] - Targa Resources Corp. (NYSE:TRGP) was highlighted as a significant stock in the fund's portfolio [2][3] Group 2 - Targa Resources Corp. has a one-month return of -3.05% and a 52-week loss of 2.69%, with a market capitalization of $34.71 billion [2] - Targa is a leading midstream natural gas and NGL company, controlling 90% of the fractionation capacity in Mont Belvieu, benefiting from cost advantages and barriers to entry [3] - Approximately 90% of Targa's earnings come from multi-year fee-based arrangements, providing stability against market fluctuations [3] Group 3 - Targa Resources Corp. is not among the 30 most popular stocks among hedge funds, with 48 hedge fund portfolios holding the stock at the end of Q2 2025 [4] - There is a belief that certain AI stocks may offer greater upside potential compared to Targa Resources Corp. [4]