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)

U.S. Concentrated

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.

Strategy’s Best Use:

Institutional investors and clients working through financial professionals to seek a more focused approach to U.S. equities.

Portfolio Construction:

A typical U.S. Concentrated portfolio holds approximately 20 names. These are typically stocks with market caps of $1 billion or more when they are purchased. There are no specific sector targets. Allocations are determined entirely through our stock selection process. However, exposure to a single industry typically doesn’t exceed 25 percent, and we generally restrict position size to 10 percent at the time of initial purchase.

A Value Approach at Its Core:

We follow the same strict, value-oriented approach to investing that we use with each of our strategies, seeking out substantially underpriced companies with strong business fundamentals and proven shareholder-oriented management teams.

What to Expect as a Client:

You can expect to receive the highest level of care from our experienced and responsive client services team regardless of the size of the portfolio you entrust with us.

Portfolio Managers

View our Team

Contact Us to Learn More

For questions please contact us or call 312-646-3600.

Growth of a $10,000 Investment

From 12/31/1990 to 09/30/2020

Growth chart is presented Net of Fees.

Past performance is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. The gross performance presented below does not reflect the deduction of investment advisory fees. All returns reflect the reinvestment of dividends and capital gains and the deduction of transaction costs. The client’s return will be reduced by the advisory fees and other expenses it may incur in the management of its account.  The advisory fee, compounded over a period of years, will have an adverse effect on the value of the client’s portfolio.

Harris Associates L.P. (Harris Associates) is an investment adviser registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940. The general partnership interest in Harris Associates is owned by Harris Associates, Inc., a corporate subsidiary of Natixis Investment Managers. The Concentrated Value Equity Composite includes all fully discretionary, supervised, institutional, tax-exempt, large/mid cap, concentrated, domestic, equity accounts in excess of $2 million.

The S&P 500 Total Return Index is a float-adjusted, capitalization-weighted index of 500 U.S. large-capitalization stocks representing all major industries. It is a widely recognized index of broad, U.S. equity market performance. Returns reflect the reinvestment of dividends. This index is unmanaged and investors cannot invest directly in this index. Benchmark returns are not covered by the report of the independent verifiers.

Harris Associates claims compliance with the Global Investment Performance Standards (GIPS®). To receive a list of Harris Associates’ composite descriptions and/or GIPS® compliant performance presentations, please Contact Us.

Performance Returns

  • Returns % as of 09/30/2020
Composite Inception: 01/01/1991

Returns for periods of less than one year are not annualized.

Portfolio Characteristics

As of 09/30/2020

Median Market Cap

$42,146 M

Weighted Average Market Cap

$186,448 M

Current Price to Earnings Ratio

27.7

Projected Price to Earnings

16.8

Current Price to Book Ratio

2.4

Projected Price to Book

2.2

Current Price to Cash Flow

19.8

Projected Price to Cash Flow

10.7

Number of Securities

25

Portfolio Turnover

30%

Dividend Yield

1.00%

Beta vs. Benchmark

1.020

Standard Deviation

16.97%

Active Share

92.07%

Equity Sector Breakdowns

As of 09/30/2020

Top 10 Equities and Equivalents

As of 09/30/2020

Total % in Top 10 Holdings 52.0%

Total # of Holdings 25

Portfolio holdings are subject to change and are not intended as recommendations of individual stocks. Individual security weights may not add to the displayed total due to rounding.