Oakmark Equity and Income Fund
Aggressive allocation fund
As of its 2026 Q2 report, Oakmark Equity and Income Fund held 265 positions with $5.84B in net assets. Its ten largest holdings made up 19.8% of the fund. The OAKBX share class costs 0.85% a year. Over the 12 months to May 2026, OAKBX returned 10.3%, with dividends reinvested. In 2026 Q2 it added 48 new positions and exited 51.
Oakmark Equity and Income Fund seeks income and preservation and growth of capital.
The fund invests 40–75% in equities and up to 60% in debt securities, selecting both using a value approach: equities trading significantly below the adviser's estimate of intrinsic value and showing free cash flow, predictable earnings growth, and aligned management; debt securities chosen for quality, yield, and liquidity. The equity portfolio typically holds 30–60 issuers, concentrating assets in the adviser's best ideas, which means performance can diverge materially from broad market indices. Fixed income holdings are sized to buffer equity volatility and generate income, with the debt allocation adjusted based on the adviser's view of absolute value across asset classes.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
2.69% | $157.27M | 4.8M | $32.73 | |
2.13% | $124.17M | 583.9K | $212.65 | |
2.07% | $121.09M | 313.1K | $386.73 | |
CDWCDW Corp | 1.94% | $113.20M | 804.9K | $140.64 |
ABNBAirbnb Inc | 1.90% | $110.90M | 775.0K | $143.10 |
AMZNAmazon.com Inc | 1.87% | $109.26M | 458.4K | $238.34 |
1.83% | $107.13M | 2.3M | $45.95 | |
1.80% | $104.90M | 852.1K | $123.11 | |
GOOGLAlphabet Inc | 1.77% | $103.35M | 289.2K | $357.37 |
Willis Towers Watson PLC | 1.76% | $102.95M | 393.9K | $261.37 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
The 200 largest of 265 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 60.05% |
| Bonds | 22.00% |
| Securitized | 15.07% |
| Loans | 1.42% |
| Cash & short-term | 1.33% |
| Derivatives | -0.03% |
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Derivatives are shown at market value, not notional exposure.
By sector
- Financials
- 19.4%
- Securitized
- 15.1%
- Consumer Discretionary
- 10.0%
- Health Care
- 9.3%
- 11 other sectors
- 46.2%
- Financials
- 19.4%
- Securitized
- 15.1%
- Consumer Discretionary
- 10.0%
- Health Care
- 9.3%
- Other
- 7.0%
- Information Technology
- 6.7%
- International
- 6.6%
- Communication Services
- 5.8%
- Industrials
- 5.7%
- Government
- 5.0%
- Consumer Staples
- 4.6%
- Energy
- 3.3%
- Materials
- 0.6%
- Real Estate
- 0.6%
- Utilities
- 0.3%
How it has done
OAKBX share class · total returns with dividends reinvested
Volatility over the last 12 months: 6.95%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 4 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.85% | +10.25% | +38.72% | +27.97% | -8.09% | |
| 0.63% | +10.51% | +39.76% | +29.49% | -8.02% | |
| 0.59% | +10.58% | +39.86% | +29.61% | -8.03% | |
| 0.56% | +10.58% | +39.96% | +29.81% | -8.02% |
These classes hold the same portfolio, so the 1.84pp spread over 5 years is the cost difference between them — roughly 0.37pp a year — not a difference in what they own.
Fees & fund details
Oakmark Equity and Income Fund is an aggressive allocation fund. 6% of OAKBX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 89% of the fund’s equity).
- Asset class
- Allocation (multi-asset)
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Equity exposure
- Aggressive
- Features
- Leveraged · Defined outcome
- Expense ratio, by class
- 0.56% – 0.85%· OAKBX 0.85%
- Portfolio turnover
- 69.00% a year · as of 2026 Q1
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
48 new· the largest 8
51 exited· the largest 7
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 84.5% |
| Floating rate | 15.5% |
Share of the fund's debt value in each maturity band, shortest first.
| 1-3y | 3.4% |
| 3-5y | 11.0% |
| 5-10y | 37.6% |
| 10y+ | 47.9% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying about half as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 64% |
| Credit spreads | 36% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +1.05 yr |
| High yield | +0.17 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.01 yr | 0% |
| 1 yr | 0.15 yr | 7% |
| 5 yr | 0.67 yr | 30% |
| 10 yr | 0.99 yr | 45% |
| 30 yr | 0.38 yr | 17% |
| 3 mo | 0.01 yr | 0% |
| 1 yr | 0.14 yr | 11% |
| 5 yr | 0.60 yr | 50% |
| 10 yr | 0.42 yr | 34% |
| 30 yr | 0.05 yr | 4% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.01 | +0.00 | +0.00 | $1.7k | $1.5k |
| 1 yr | +0.15 | +0.10 | +0.04 | $59.1k | $22.3k |
| 5 yr | +0.67 | +0.49 | +0.12 | $284.3k | $68.4k |
| 10 yr | +0.99 | +0.40 | +0.01 | $236.5k | $6.2k |
| 30 yr | +0.38 | +0.05 | +0.00 | $31.1k | $0 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Understand how this fund fits with the rest.
Explore shared holdings, compare funds and follow their businesses with your connected AI:
- “Where do my funds overlap — OAKBX, QQQ and the fund in my 401(k)?”
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