The Oakmark Funds are advised by Harris Associates L.P. an autonomous subsidiary of Natixis Investment Managers, L.P.

Learn more about the principles and philosophy behind our funds at HarrisAssoc.com.

Harris Associates

111 South Wacker Drive, Suite 4600
Chicago, Illinois 60606
312-646-3600

OAYMX

Fund

Oakmark Fund

Inception Date

11/30/2016

Cusip

413838798

Share Class Total Net Assets

$3.3B

Daily Nav

$74.54

(08/11/2020)

Nav Change

0.15

Nav YTD %

6.71%

Objective

Long-term capital appreciation

Oakmark Fund is a diversified fund that seeks long-term capital appreciation by generally investing in larger capitalization U.S. companies.

Portfolio Managers

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Oakmark Fund

Kevin Grant discusses the Oakmark Fund

Growth of a $10,000 Investment (Investor Share Class)

From 08/05/1991 to 06/30/2020

Past performance is no guarantee of future results. The performance data quoted represents past performance. Current performance may be lower or higher than the performance data quoted. Total return includes change in share prices and, in each case, includes reinvestment of dividends and capital gain distributions. The investment return and principal value vary so that an investor’s shares, when redeemed, may be worth more or less than the original cost.

The graph does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

The Fund’s portfolio tends to be invested in a relatively small number of stocks. As a result, the appreciation or depreciation of any one security held by the Fund will have a greater impact on the Fund’s net asset value than it would if the Fund invested in a larger number of securities. Although that strategy has the potential to generate attractive returns over time, it also increases the Fund’s volatility.

The S&P 500 Total Return Index is a float-adjusted, capitalization-weighted index of 500 U.S. large-capitalization stocks representing all major industries. It is a widely recognized index of broad, U.S. equity market performance. Returns reflect the reinvestment of dividends. This index is unmanaged and investors cannot invest directly in this index.

Commentary

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Oakmark Fund: Second Quarter 2020

The heightened market volatility has afforded us the opportunity to upgrade the portfolio by rebalancing existing positions and adding...

Performance Returns

  • Returns % as of 07/31/2020
  • Returns % as of 06/30/2020
Gross Expense Ratio (as of 09/30/2019): 0.82%
Net Expense Ratio (as of 09/30/2019): 0.78%
Fund Inception: 11/30/2016

Returns for periods of less than one year are not annualized.

The net expense ratio reflects a contractual advisory fee waiver agreement through January 27, 2021.

Portfolio Characteristics

As of 06/30/2020

Median Market Cap

$39,865 M

Weighted Average Market Cap

$127,744 M

Current Price to Earnings Ratio

19.9

Projected Price to Earnings

13.4

Current Price to Book Ratio

1.6

Projected Price to Book

1.5

Current Price to Cash Flow

17.2

Projected Price to Cash Flow

13.1

Number of Holdings

50

Turnover Rate

37%

Dividend Yield

1.93%

Beta vs. Benchmark

0.948

Standard Deviation

16.02%

Annual Operating Expenses - Gross*

0.82%

Annual Operating Expenses - Net*

0.78%

*Annual Operating Expenses As of 09/30/2019

Equity Sector Breakdowns

As of 06/30/2020

Top 10 Equities and Equivalents

As of 06/30/2020

Total % in Top 10 Holdings 30.9%

Total # of Holdings 50

Assets Under Mgmt. $11.4B

Portfolio holdings are subject to change and are not intended as recommendations of individual stocks. Individual security weights may not add to the displayed total due to rounding.

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