Oakmark Equity and Income Fund
HARRIS ASSOCIATES INVESTMENT TRUST · 4 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
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
Fund profile
As filed in the prospectus · 2026 Q1
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.
| Share class | Expense ratio |
|---|---|
| OAKBX | 0.85% |
| OAYBX | 0.63% |
| OANBX | 0.59% |
| OAZBX | 0.56% |
Portfolio turnover 69.00% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| 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.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Financials | 19.6% |
| Securitized | 15.1% |
| Consumer Discretionary | 10.0% |
| Health Care | 9.3% |
| 11 smaller | 46.0% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Portfolio growth profile
How much of the fund’s stock holdings are in fast-growing companies · as of 2026 Q2
Share of the fund’s equity (by value) in companies whose trailing five-year revenue — or net-income — growth ranks in the top 25% of U.S. public companies. Foreign and newly-listed holdings are excluded, so the figure covers only part of the book. From SEC filings — not investment advice. How we measure this.
Latest quarter
What changed since the fund's previous filing
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +12.97% | +36.88% | +31.06% | 7.17% | -8.09% | |
| +13.24% | +37.91% | +32.68% | 7.18% | -8.02% | |
| +13.27% | +38.02% | +32.74% | 7.17% | -8.03% | |
| +13.30% | +38.16% | +33.01% | 7.15% | -8.02% |
These classes hold the same portfolio, so the 1.95pp spread over 5 years is the cost difference between them — roughly 0.39pp a year — not a difference in what they own.
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
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.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| KDP | Keurig Dr Pepper IncKDP | 2.69% | $32.73 | $157.27M | 4.8M |
| RGA | Reinsurance Group of America IncRGA | 2.13% | $212.65 | $124.17M | 583.9K |
| ELV | Elevance Health IncELV | 2.07% | $386.73 | $121.09M | 313.1K |
| CDW | CDW CorpCDW | 1.94% | $140.64 | $113.20M | 804.9K |
| ABNB | Airbnb IncABNB | 1.90% | $143.10 | $110.90M | 775.0K |
| AMZN | Amazon.com IncAMZN | 1.87% | $238.34 | $109.26M | 458.4K |
| ALLY | Ally Financial IncALLY | 1.83% | $45.95 | $107.13M | 2.3M |
| ICE | Intercontinental Exchange IncICE | 1.80% | $123.11 | $104.90M | 852.1K |
| GOOGL | Alphabet IncGOOGL | 1.77% | $357.37 | $103.35M | 289.2K |
| — | Willis Towers Watson PLC | 1.76% | $261.37 | $102.95M | 393.9K |
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.
Top 10 positions are 19.76% of net assets, top 25 40.80%, across 161 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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