Oakmark Fund
HARRIS ASSOCIATES INVESTMENT TRUST · Series S000002758 · 4 share classes
data updated 2026-09-08
Fund profile
As filed in the prospectus · 2026 Q1
Oakmark Fund seeks long-term capital appreciation.
The fund invests in a diversified portfolio of large-cap U.S. stocks selected through bottom-up fundamental analysis, seeking companies trading at significant discounts to the adviser's estimate of intrinsic value while demonstrating predictable earnings growth and management alignment with shareholders. The fund typically holds thirty to sixty stocks, concentrating its assets in its highest-conviction ideas, which means a higher percentage of assets may be invested in particular sectors or industries at times. Because performance depends on the adviser's estimates of intrinsic value and the selection of individual securities, results may diverge materially from broad market returns.
| Share class | Expense ratio |
|---|---|
| OAKMX | 0.89% |
| OAYMX | 0.70% |
| OANMX | 0.67% |
| OAZMX | 0.61% |
Portfolio turnover 63.00% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 94.56% |
| Cash & short-term | 5.42% |
| Derivatives | -0.04% |
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.
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 |
|---|---|---|---|---|---|
| +17.96% | +57.61% | +65.36% | 9.11% | -9.42% | |
| +18.20% | +58.55% | +67.11% | 9.11% | -9.38% | |
| +18.24% | +58.67% | +67.32% | 9.11% | -9.38% | |
| +18.32% | +58.96% | +67.73% | 9.12% | -9.36% |
These classes hold the same portfolio, so the 2.37pp spread over 5 years is the cost difference between them — roughly 0.47pp 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.
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 |
|---|---|---|---|---|---|
| — | Fixed Income Clearing Corp. | 5.42% | — | $1.30B | — |
| TRGP | Targa Resources CorpTRGP | 3.22% | $268.14 | $772.78M | 2.9M |
| DAL | Delta Air Lines IncDAL | 3.13% | $93.66 | $751.16M | 8.0M |
| KDP | Keurig Dr Pepper IncKDP | 2.94% | $32.73 | $707.71M | 21.6M |
| ABNB | Airbnb IncABNB | 2.92% | $143.10 | $702.76M | 4.9M |
| C | Citigroup IncC | 2.89% | $139.96 | $694.03M | 5.0M |
| MRK | Merck & Co IncMRK | 2.84% | $128.50 | $682.21M | 5.3M |
| ELV | Elevance Health IncELV | 2.74% | $386.73 | $659.37M | 1.7M |
| CTVA | Corteva IncCTVA | 2.67% | $84.69 | $640.57M | 7.6M |
| ALLY | Ally Financial IncALLY | 2.54% | $45.95 | $610.03M | 13.3M |
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 31.31% of net assets, top 25 63.17%, across 59 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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