Value investing redefined

The Oakmark family of mutual funds is an extension of Harris Associates’ value-focused approach to investing. For more about our selection of funds, visit Oakmark.com.

The Oakmark Funds

111 South Wacker Drive, Suite 4600
Chicago, Illinois 60606
1-800-OAKMARK (625-6275)

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There is a real disconnect between news flow on public companies and the value of the underlying businesses. The overwhelming majority of discussion is based on what may happen over the next year or so to create volatility in earnings, despite over 90% of intrinsic value depending on what happens after that. This provides opportunities for long-term, value-minded investors like us.

-Tony Coniaris, CFA, Partner, Co-Chairman

David Herro portrait

David G. Herro, CFA

Partner, Deputy Chairman, Portfolio Manager and Co-Chief Investment Officer-International Equities

  • Portfolio Manager of the Oakmark International Fund, Oakmark International Small Cap Fund, Oakmark Global Fund and Oakmark Global Select Fund
  • Portfolio Manager of the International, International Small Cap, Global, Global All Cap, Global Concentrated and Japan Strategies
  • Vice President, Oakmark Funds
  • B.S., University of Wisconsin-Platteville, 1983
  • M.A., University of Wisconsin-Milwaukee, 1985
  • Portfolio Manager with The State of Wisconsin Investment Board, 1989-92; and The Principal Financial Group, 1986-89
  • Joined the industry in 1985
  • Joined Harris Associates in 1992

David's Commentary

News + Insights

David Herro on CNBC image

News

David Herro on CNBC’s “Squawk Box” (04.08.25)

April 8, 2025

CIO-International Equities and Portfolio Manager David Herro discussed finding opportunity amid tariff uncertainty and market volatility during a CNBC “Squawk Box” interview.

David Herro portrait
David Herro, CFA
Oakmark International Small Cap (OANEX) Lipper Award 2025 image

News

Oakmark International Small Cap Fund wins a 2025 LSEG Lipper Fund Award

March 14, 2025

The Oakmark International Small Cap Fund is honored to receive a 2025 LSEG Lipper Fund Award for best International Small/Mid-Cap Core Fund over five...

David Herro portraitMike Manelli portraitJustin Hance portrait
David Herro, CFA | Michael Manelli, CFA* | Justin Hance, CFA
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News

Harris | Oakmark Announces Portfolio Manager Retirement and Adds to International Equity Leadership

March 7, 2025

Mike Manelli, Partner and co-portfolio manager of the Oakmark International Fund and the Oakmark International Small Cap Fund, will retire at year-end 2025 –...

David Herro portraitTony Coniaris portraitMike Manelli portrait
David Herro, CFA | Tony Coniaris, CFA | Michael Manelli, CFA*
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We do value investing differently

At Harris Associates, 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.

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