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

David Herro- Portfolio Manager- Headshot

David G. Herro, CFA

Partner and CIO-International Equities

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.

Commentary

International markets: two drawdowns and a miss from economists | International equity market commentary 4Q23

December 31, 2023

Two macro themes and economists’ negative outlook caused international market uncertainty, but a focus on research along with a long-term view can help uncover otherwise overlooked opportunities.

Oakmark Global Fund: Fourth Calendar Quarter 2023

December 31, 2023

The top contributor to the Fund’s performance was a company that specializes in consumer finance, while a top detractor was a life science company with pharmaceuticals, consumer health and crop science divisions.

Oakmark Global Select Fund: Fourth Calendar Quarter 2023

December 31, 2023

A top contributor to the Fund’s performance was a company that specializes in consumer finance, while a top detractor was a life science company with pharmaceuticals, consumer health and crop science divisions.

News + Insights

David Herro on CNBC image

News

David Herro on CNBC’s “Closing Bell Overtime” (02.22.24)

February 22, 2024

Portfolio Manager David Herro discusses investing in Japan and why, despite current market conditions, investors should be cautious during a CNBC “Closing Bell: Overtime”...

David Herro on CNBC image

News

David Herro on CNBC’s “Squawk on the Street” (02.06.24)

February 6, 2024

Portfolio Manager David Herro shares why one looks outside the U.S., particularly Europe, they’re able to find high-quality, well-managed businesses that trade at almost...

Image of David Herro and Justin Hance

Insights

What earnings growth really means for international stocks

January 22, 2024

While U.S. growth may be higher, international stocks may have a value advantage. Hear more from Portfolio Managers David Herro and Justin Hance.

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 during the next election cycle. As long-term investors, we don’t think it matters.