Global All Cap Strategy - Major global markets finished largely higher in the fourth quarter in spite of a variety of macroeconomic concerns that...
The Private Wealth Management team offers an equity-focused strategy and a balanced option. These separate account portfolios are built for use when capital preservation and long-term growth are a portfolio’s primary objectives.Learn More
U.S. Equity portfolios hold approximately 40 securities with a market cap focus of $5 billion and above at the time of purchase.Learn More
As a best-ideas strategy, U.S. Concentrated portfolios are structured to maximize the impact of our stock selection and are typically limited to 20 holdings.Learn More
Global portfolios are made up of 30 to 60 large-cap equity securities from our approved list of U.S. and international stocks.Learn More
Global All Cap portfolios generally hold 30 to 60 securities with a market cap focus of $1 billion and are selected from our approved list of U.S. and international stocks.Learn More
Global Concentrated portfolios hold a focused selection of large-cap U.S. and international equities, with portfolios limited to approximately 20 securities.Learn More
Our International portfolios are made up of 35 to 65 large-cap equity securities from our approved list of international stocks.Learn More
International Small Cap portfolios are composed of 35 to 70 attractive small-cap companies from our approved list of international stocks.Learn More
With an allocation to the most attractive 15 to 30 mid- to large-cap companies on our approved list of Japanese stocks, Japan Equity portfolios provide a concentrated country focus.Learn More
For more than three decades, we have managed separate accounts for wealthy individuals, foundations, endowments, pension plans, institutions, mutual funds and other clients. All have benefited from our extensive experience in meeting the needs of diverse groups of investors. We are particularly proud of our longstanding client relationships.
Sticking to a consistent, firm-wide investment philosophy and process, our portfolio managers build each separate account portfolio stock by stock. And because client needs and markets constantly change, the separate account relationship is dynamic. Our portfolio managers are skilled at adjusting portfolios to reflect changing conditions.
Our equity portfolios are generally composed of securities that we believe have attractive valuations, excellent appreciation potential, a high degree of management ownership and limited downside risk. This approach has yielded above-average investment returns over the long term with below-average volatility and risk.
Our portfolio managers use the Harris Associates list of approved stocks to customize focused investment portfolios based on a client’s assets, liquidity needs and willingness to risk tolerance. We continually monitor each client’s portfolio to ensure that it conforms to the client’s stated investment guidelines.
Our balanced accounts seek to preserve capital while providing capital appreciation. Most of these portfolios have significant exposure to equities and we use fixed-income instruments (typically Treasury, agency, municipal and/or corporate securities) to satisfy the client’s income, liquidity and risk preferences.
We rely on our value-based research process to identify corporate issues that the market undevalues. We typically invest in fixed-income holdings of high quality and with short- to intermediate-term maturities.
Our international team searches both established and emerging markets for businesses that are priced substantially below our estimates of their intrinsic value and led by management teams likely to grow that value.
To identify the most promising investment opportunities, our international analysts frequently meet with top executives and conduct first-hand inspections of company facilities. Our international portfolio decisions emphasize company quality over the macroeconomic trends in any given country.
Harris Associates provides access to some of its investment strategies via commingled vehicles that are available only to accredited investors and/or qualified purchasers, as defined by the Securities Act of 1933 or ERISA-qualified retirement plans and certain other government plans.
These vehicles employ the same disciplined, value-focused philosophy and the same bottom-up process for stock selection as other vehicles at Harris Associates.
Securities eligible for consideration must possess three key characteristics:
For more information about commingled vehicles available at Harris Associates, please contact us here.
Over the years, Harris Associates has developed strong relationships with investment intermediaries. Our desire to address their needs led us to introduce sub-advisory services, which we now offer to a select group of investment advisors.
Our sub-advisory services draw upon our in-house system capabilities, operational expertise and experienced staff. We can provide a unique service for the financial advisor who wants to add separately managed accounts to his or her practice.
We offer direct contact with a dedicated and experienced portfolio manager who can assist advisors. The degree of client communication can be customized to meet the advisor’s specific goals regarding portfolio restrictions, diversification and tax issues.
For more information about the sub-advisory services available at Harris Associates, please contact us here.
The Oakmark Funds is a family of mutual funds rooted in Harris Associates’ value-focused approach to investing. The funds are available directly from Harris Associates and also through financial advisors and other intermediaries.View our Funds on Oakmark.com
The Oakmark Fund invests in big businesses, seeking those that represent the most attractive values relative to their price. Bill Nygren, Kevin Grant and Michael Nicolas manage the Fund.
Oakmark Select is a non-diversified fund that seeks long-term capital appreciation. The Fund targets mid- and large-cap U.S. companies and typically holds approximately 20 companies. Bill Nygren, Tony Coniaris and Win Murray manage the Fund.
Oakmark Global invests in a diversified portfolio of equity securities around the world. The fund targets small-, mid- and large-cap companies in pursuit of long-term capital growth. David Herro, Clyde McGregor, Tony Coniaris and Jason Long manage the Fund.
Oakmark Global Select invests in approximately 20 larger cap companies from around the world. Approximately half of the holdings in this non-diversified Fund are typically U.S.-based and the other half are international companies. Bill Nygren, David Herro, Tony Coniaris and Eric Liu manage the Fund.
Oakmark International invests in a diversified portfolio of common stocks of non-U.S. companies. The fund generally focuses on companies with a market cap of $7.5 billion and up. The Fund may also invest in emerging markets. David Herro and Michael Manelli manage the Fund.
Oakmark International Small Cap pursues long-term capital growth via a diversified portfolio of non-U.S. companies with a market capitalization less than $7.5 billion at the time of investment. David Herro, Michael Manelli and Justin Hance manage the Fund.
Oakmark Equity and Income seeks current income as well as preservation and long-term growth of capital. It invests in a diversified portfolio of equity and fixed-income securities. Clyde McGregor, Colin Hudson and Adam Abbas manage the Fund.
Oakmark Bond invests primarily in a diversified portfolio of bonds and other fixed income securities. Adam Abbas and Colin Hudson manage the Fund.View our Funds on Oakmark.com
The Oakmark Equity and Income Fund invests in medium- and lower-quality debt securities that have higher yield potential but present greater investment and credit risk than higher-quality securities. These risks may result in greater share price volatility. An economic downturn could severely disrupt the market in medium- or lower-grade debt securities and adversely affect the value of outstanding bonds and the ability of the issuers to repay principal and interest.
The Oakmark, Global and International Fund portfolios tend to be invested in a relatively small number of stocks. As a result, the appreciation or depreciation of any one security held by the Fund will have a greater impact on the Fund’s net asset value than it would if the Fund invested in a larger number of securities. Although that strategy has the potential to generate attractive returns over time, it also increases the Fund’s volatility.
Because the Oakmark Select and Oakmark Global Select Funds are non-diversified, the performance of each holding will have a greater impact on the Funds’ total return and may make the Funds’ returns more volatile than a more diversified fund.
The stocks of smaller companies often involve more risk than the stocks of larger companies. Stocks of small companies tend to be more volatile and have a smaller public market than stocks of larger companies. Small companies may have a shorter history of operations than larger companies, may not have as great an ability to raise additional capital and may have a less diversified product line, making them more susceptible to market pressure.
Investing in foreign securities presents risks that in some ways may be greater than U.S. investments. Those risks include: currency fluctuation; different regulation, accounting standards, trading practices and levels of available information; generally higher transaction costs; and political risks.
The Oakmark Bond Fund invests primarily in a diversified portfolio of bonds and other fixed-income securities. These include, but are not limited to, investment grade corporate bonds; U.S. or non-U.S.-government and government-related obligations (such as, U.S. treasury securities); below investment-grade corporate bonds; agency mortgage backed-securities; commercial mortgage- and asset-backed securities; senior loans (such as, leveraged loans, bank loans, covenant lite loans, and/or floating rate loans); assignments; restricted securities (e.g., Rule 144A securities); and other fixed and floating rate instruments. The Fund may invest up to 20% of its assets in equity securities, such as common stocks and preferred stocks. The Fund may also hold cash or short-term debt securities from time to time and for temporary defensive purposes.
Under normal market conditions, the Fund invests at least 25% of its assets in investment-grade fixed-income securities and may invest up to 35% of its assets in below investment-grade fixed-income securities (commonly known as “high-yield” or “junk bonds”).
Fixed income risks include interest-rate and credit risk. Typically, when interest rates rise, there is a corresponding decline in bond values. Credit risk refers to the possibility that the bond issuer will not be able to make principal and interest payments.
Bond values fluctuate in price so the value of your investment can go down depending on market conditions.
Investing in value stocks presents the risk that value stocks may fall out of favor with investors and underperform growth stocks during given periods.
Our greatest value to you is found in the people who deliver our services. Whether they are involved in security analysis, allocation or meeting your account’s needs, each is dedicated to ensuring our relationship delivers the expertise you seek.