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

Harris Associates

111 South Wacker Drive, Suite 4600
Chicago, Illinois 60606

David Herro- Portfolio Manager- Headshot

David G. Herro, CFA

Partner and CIO-International Equity

David Herro has been a manager of the Oakmark International Fund since 1992, the Oakmark International Small Cap Fund since 1995, the Oakmark Global Select Fund since 2006 and the Oakmark Global Fund since 2016. He is also the chief investment officer for international equities at Harris Associates, which he joined in 1992, and a vice president of the Oakmark Funds.

His career honors include being named Morningstar’s International Stock Fund Manager of the Year in 2006, International Stock Fund Manager of the Decade for 2000-09 and International Stock Fund Manager of the Year in 2016.

Mr. Herro has an M.A. in economics from the University of Wisconsin-Milwaukee (1985) and a B.S. in business/economics from the University of Wisconsin-Platteville (1983).

According to Morningstar, the Morningstar Manager of the Year award is presented to portfolio managers based on the managers’ (i) “ability to generate exceptional returns;” (ii) “willingness to align their interests with shareholders;” and (iii) “courage to stay with their strategies in order to produce superior risk-adjusted returns in the end.

According to Morningstar, the Fund Manager of the Decade award, which is a new award from Morningstar, recognizes fund managers who have achieved superior risk-adjusted results over the past 10 years and have an established record of serving shareholders well. While the awards focus on performance over the past decade, Morningstar takes into consideration other factors, including the fund manager’s strategy, approach to risk, size of the fund, and stewardship. Both individual fund managers and management teams are eligible, and being a previous winner of the Morningstar Fund Manager of the Year award isn’t a prerequisite. Morningstar’s fund analysts select the Fund Manager of the Decade award winners based on Morningstar’s proprietary research and in-depth evaluation.


David Herro Market Commentary | 4Q20

December 31, 2020

Very similar to the year 2016, this past year was filled with extremes driven by exogenous factors, from the pandemic to Brexit, with elections in between. By the end of the year, both of...

Oakmark Global Fund: Fourth Quarter 2020

December 31, 2020

We were fairly active in the quarter, adding two new holdings to the portfolio while eliminating three.

Oakmark Global Select Fund: Fourth Quarter 2020

December 31, 2020

A large contributor to the Fund’s performance was a U.K.-based retail bank, while a large detractor was a China-based internet and direct marketing retailer.

News + Insights

David Herro on CNBC


David Herro on CNBC’s “Closing Bell” (01.12.21)

January 12, 2021

Portfolio Manager David Herro talked about opportunities in the market, especially in European financials, during a CNBC “Closing Bell” interview.

David Herro- Portfolio Manager- Headshot


Talking Value with David Herro: “35 Years in Equity Investing”

November 30, 2020

Portfolio Manager David Herro shares how he is finding opportunities in the current market environment as a value investor.


Oakmark International Small Cap Fund 25th Anniversary Retrospective

November 17, 2020

In honor of Oakmark International Small Cap’s 25th anniversary, Portfolio Manager Michael Manelli reflects on the Fund’s history.

We do value investing differently

At Oakmark, we don’t have an opinion about how equities will perform this year, if a recession will start or if the political parties will produce pro-growth candidates for 2020. As long-term investors, we don’t think it matters.