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.
Partner and Portfolio Manager
Michael Nicolas has been a manager of the Oakmark Fund since 2020, the Oakmark Equity and Income Fund since 2022 and the Oakmark U.S. Large Cap ETF since 2024. He is also an investment analyst at Harris Associates and a vice president of the Oakmark Funds.
He started at Harris Associates in 2013 after serving as a managing director at Lakeview Investment Group. Prior to that, he was a senior analyst at Stratford Advisory Group.
Mr. Nicolas earned a B.B.A. from the University of Wisconsin-Madison (2002).
Insights
February 27, 2025
Portfolio Managers Alex Fitch, Robert Bierig and Mike Nicolas answer shareholder questions ranging from the impact of inflation and AI, to portfolio positioning and...
Insights
January 15, 2025
Portfolio Managers Bill Nygren and Mike Nicolas discuss what has contributed to the shrinking large cap universe, how it can impact portfolio construction and...
News
December 31, 2024
Portfolio Manager Mike Nicolas made an investment case for a financials company in a "Value Investor Insight" interview that paid tribute to value investor...
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.
Commentary
Oakmark Fund: First Calendar Quarter 2025
March 31, 2025
With stock prices down, the team is taking advantage of the opportunity by seeking companies with attractive risk-adjusted returns. An insurance company was a top contributor, while a technology company was a top detractor.
Oakmark Equity and Income Fund: First Calendar Quarter 2025
March 31, 2025
With stock prices down, the team is taking advantage of the opportunity by seeking companies with attractive risk-adjusted returns. An insurance company was a top contributor, while a technology company was a top detractor.
Oakmark Fund: Fourth Calendar Quarter 2024
December 31, 2024
While broad market valuations are above historic averages, the wide spread in valuation multiples is providing us with opportunities to invest in a diversified mix of high-quality businesses at attractive prices.