Oakmark Select Fund
HARRIS ASSOCIATES INVESTMENT TRUST · 4 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
Oakmark Select Fund is an actively managed U.S. equity fund. 17% of OAKLX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 95% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Features
- Leveraged · Non-diversified
Fund profile
As filed in the prospectus · 2026 Q1
Oakmark Select Fund seeks long-term capital appreciation.
The fund invests in common stocks of U.S. large- and mid-capitalization companies selected through a value philosophy: the adviser identifies securities trading significantly below its estimate of intrinsic value—what a knowledgeable buyer would pay for the entire business—and screens for free cash flows, predictable earnings growth, and management alignment with shareholders. The fund is non-diversified and typically holds twenty to thirty issuers, meaning a higher percentage of assets may concentrate in particular sectors or industries. Because the fund holds a limited number of issuers, performance depends heavily on the success of those individual holdings.
| Share class | Expense ratio |
|---|---|
| OAKLX | 1.00% |
| OAYLX | 0.87% |
| OANLX | 0.76% |
| OAZLX | 0.73% |
Portfolio turnover 58.00% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 94.56% |
| Cash & short-term | 5.38% |
| 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 | 29.3% |
| Health Care | 16.0% |
| Consumer Discretionary | 9.4% |
| Information Technology | 8.6% |
| 7 smaller | 36.7% |
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 |
|---|---|---|---|---|---|
| +17.09% | +60.15% | +52.25% | 11.11% | -10.55% | |
| +17.25% | +60.74% | +53.20% | 11.11% | -10.52% | |
| +17.39% | +61.31% | +54.01% | 11.11% | -10.50% | |
| +17.44% | +61.50% | +54.32% | 11.10% | -10.50% |
These classes hold the same portfolio, so the 2.07pp spread over 5 years is the cost difference between them — roughly 0.41pp 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 |
|---|---|---|---|---|---|
| KDP | Keurig Dr Pepper IncKDP | 7.64% | $32.73 | $635.37M | 19.4M |
| CRM | Salesforce IncCRM | 6.43% | $156.66 | $534.82M | 3.4M |
| FCNCA | First Citizens BancShares IncFCNCA | 6.40% | $2,080.79 | $532.71M | 256.0K |
| IQV | IQVIA Holdings IncIQV | 6.05% | $193.22 | $503.43M | 2.6M |
| CNC | Centene CorpCNC | 5.81% | $64.19 | $483.03M | 7.5M |
| MRSH | Marsh & McLennan Cos IncMRSH | 5.65% | $166.67 | $470.23M | 2.8M |
| — | Fixed Income Clearing Corp. | 5.38% | — | $447.78M | — |
| SCHW | The Charles Schwab CorpSCHW | 5.12% | $92.27 | $426.01M | 4.6M |
| — | ICON PLC | 4.95% | $173.71 | $411.52M | 2.4M |
| ABNB | Airbnb IncABNB | 4.83% | $143.10 | $401.38M | 2.8M |
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 58.26% of net assets, top 25 99.94%, across 24 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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