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)

Go to Oakmark.com Close

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

Terms of Use

This website includes information and content that is owned or licensed by Harris Associates L.P. and its affiliates (“Harris”).

The following Terms and Conditions (“Terms”) govern your use of the Harris website and all products, services, content, tools and information available through the website. Please read these Terms carefully. By accessing, browsing, logging into and/or otherwise using this website, you acknowledge that you have read, understood and agree to be legally bound by these Terms. If you do not agree with these Terms, please do not access this website or any pages thereof.

These Terms are in addition to any other agreements between you and us, including any customer or account agreements and any other agreements that govern your use of our or any third party’s products, services, content, tools and information available on this website.

We reserve the right to modify, add or remove any portion of the website or these Terms at any time, without notice. Your use of this website is governed by the version of the Terms in effect on the date you access the website; therefore, please review these Terms periodically for changes. You may access the most current version of the Terms by visiting the website and clicking on the Terms of Use hyperlink at the bottom of the homepage.

We reserve the right to monitor the use of the website.

Scope of Use
The content provided on this website is provided for informational purposes only and is not intended to be a solicitation, offer, recommendation, representation of suitability or endorsement by us or our affiliates of any security, financial instrument or investment product. You should exercise prudent care when making investment decisions using any information provided on this website. Decisions based on information contained on this website are your sole responsibility.  Nothing contained on this website constitutes tax, legal, insurance or investment advice. In exchange for using this website, you agree to defend, indemnify and hold Harris and its respective officers, directors, trustees, employees, affiliates, agents, licensors and suppliers harmless against any and all claims, losses, liability, costs and expenses (including but not limited to attorneys’ fees) resulting from or arising out of your use of or improper access to this website or its contents, or any violation by you of these Terms.

BEFORE ACQUIRING THE SHARES OF ANY MUTUAL FUND BY PURCHASE OR EXCHANGE, IT IS YOUR RESPONSIBILITY TO READ THE FUND’S PROSPECTUS.

No Warranty
While we will make every reasonable effort to ensure that the website content is complete, accurate and reliable, the information and services provided on this website are provided “AS IS” and without warranties of any kind, either expressed or implied. To the fullest extent permissible pursuant to applicable law, Harris disclaims all warranties, including, but not limited to, any warranty of non-infringement of third-party rights and any implied warranties of merchantability and fitness for a particular purpose.  Harris does not warrant, either expressly or impliedly, the accuracy, timeliness, completeness, reliability or availability of the information, text, graphics, links or other items contained on this website. Website content is presented only as of the date published or indicated and may be superseded by subsequent market events or other reasons.  We expressly disclaim all liability for errors and omissions in the materials on this website and for the use of the content, the interpretation by others of the content or the results of the use of the content contained on the website. WE SHALL NOT BE LIABLE TO YOU OR ANY THIRD PARTY FOR ANY DAMAGES ARISING FROM ANY ACTIONS OR INVESTMENT DECISIONS TAKEN BY YOU BASED ON THE ACCURACY OF THE CONTENT ON THIS SITE.

While we will make every reasonable effort to maintain this website and its operation, Harris does not warrant that the functions contained in this website will be uninterrupted, timely, secure, that the results obtained from the website will be error-free, that defects will be corrected, or that the website will be free of viruses or other harmful components.

You agree that you are responsible for the means you use to access the website and understand that your hardware, software, the internet, your internet service provider and other third parties involved in connecting you to our website may not perform as intended or desired.

Limitation of Liability
HARRIS AND ITS RESPECTIVE AFFILIATES, OFFICERS, DIRECTORS, TRUSTEES, EMPLOYEES AND AGENTS WILL NOT BE LIABLE TO YOU OR ANYONE ELSE FOR ANY DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, DIRECT, CONSEQUENTIAL, INCIDENTAL, PUNITIVE, SPECIAL OR INDIRECT DAMAGES (INCLUDING BUT NOT LIMITED TO LOST PROFITS, TRADING LOSSES, DAMAGES THAT RESULT FROM YOUR USE OR LOSS OF USE OF THIS WEBSITE OR DAMAGES CAUSED BY THEFT OR UNAUTHORIZED ACCESS TO THIS WEBSITE), OR ANY OTHER MATTER RELATED TO THE USE OF THIS WEBSITE, EVEN IF HARRIS HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES OR LOSSES.

YOU ASSUME THE ENTIRE COST OF SERVICING, REPAIR OR CORRECTION THAT MAY BE NECESSARY FOR YOUR COMPUTER EQUIPMENT AND SOFTWARE AS A RESULT OF ANY VIRUSES, ERRORS OR OTHER PROBLEMS YOU INCUR AS A RESULT OF YOUR VISITING OR USE OF THIS WEBSITE.

IF YOU LIVE IN A STATE THAT DOES NOT ALLOW THE LIMITATION OR EXCLUSION OF LIABILITY FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES OR IF YOU ACCESS THE WEBSITE SOLELY THROUGH AN ARRANGEMENT WITH YOUR EMPLOYER OR PLAN SPONSOR, SOME OR ALL OF THESE LIMITATIONS AND EXCLUSIONS MAY NOT APPLY TO YOU.

We also disclaim responsibility for damages third parties may cause to you through the use of this website, whether intentional or unintentional. For example, you understand that hackers could breach our security procedures and that we will not be responsible for any related damages.

Jurisdiction and Governing Law
The products and services referred to in this website are intended for U.S. residents only and may not be eligible for sale or available to residents of certain jurisdictions or countries. The information provided on this website is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject Harris or its affiliates to any registration requirement in such jurisdiction or country. 

The laws of the State of Illinois govern these Terms without regard to conflict of law provisions. If you take legal action relating to these Terms, you agree to file such action only in the Circuit Court of Cook County, Illinois or the United States District Court for the Northern District of Illinois and you consent and submit to the personal jurisdiction of those courts for the purpose of litigating any action with Harris, its affiliates or with any funds referenced in this website. You agree that you access this website on your own initiative and you are responsible for compliance with the laws and regulations that apply to you.

Limited License and Restrictions on Use
The content on this website is provided solely for your personal, non-commercial use. Harris grants you a limited, nonexclusive, nontransferable license to view, download and print the pages within this website solely for your personal, non-commercial use, provided that such printouts retain all applicable copyright and other proprietary notices contained in the materials.

Except as otherwise stated in these Terms or as expressly authorized by Harris in writing, you may not:

  • Modify, copy, transmit, distribute, post, publish, license, create derivative works from, sell, transfer or otherwise use in any other way or for any other purpose in whole or in part any content, reports, data, information, products, text, graphics, images, video, audio, software code, user interface design or logos (collectively, “Materials”) generated by or obtained from this website, whether through links or otherwise;
  • Redeliver any page, text, image or Materials on this website using “framing” or other technology;
  • Retrieve content from the website to create or compile, directly or indirectly, a collection, compilation, database or directory (whether through robot, spider, intelligent agent, other automatic device or manual process) or create a link to the website (see “Links to Harris from Other Websites” below);
  • Upload, email or otherwise transmit any material that contains viruses or any other computer code, files or programs that might interrupt, limit or interfere with the functionality of any Harris computer software, hardware, database or file;
  • Probe, scan or test the vulnerability of any Materials, services, systems, networks, servers or accounts connected to or associated with this website or attempt to gain unauthorized access to such through hacking, password or data mining, or any other means of circumventing any access-limiting, user authentication or security device;
  • Collect or store data about other users of this website;
  • Use this website in any manner that could damage, disable or overburden: (a) this website; (b) any materials or services provided through this website; or (c) any system, server, network or any account connected to this site;
  • Use this website in any manner that would interfere with another party’s use of the website;
  • Modify, copy, mask, remove or display the term “Harris Associates L.P.,” “Oakmark,” “Harris Associates Securities L.P.,” “Harris Assoc.” or any Harris trademark, executive’s name or graphic images or any variation of the foregoing, without Harris’ written permission (see “Trademarks; Copyrights and other Intellectual Property” below); or
  • Use this website, the Materials or the term “Harris Associates L.P.,” “Oakmark,” “Harris Associates Securities L.P.,” “Harris Assoc.” or any Harris trademark, executive’s name or graphic images or any variation of the foregoing, as a meta-tag, hidden textual element, or in any manner that could create an impression of affiliation, sponsorship or endorsement by Harris.

Trademarks, Copyrights and other Intellectual Property
The content contained on this website is owned or licensed by Harris and its third-party information providers and is protected by applicable copyrights, trademarks, service marks and/or other intellectual property rights. All trademarks, service marks, trade names, graphic images and logos displayed on this website are proprietary to Harris and/or their respective owners. Nothing contained on this website should be construed as granting, by implication, estoppel, or otherwise, any license or right to use any trademark displayed on this website without the written permission of Harris or such other third party that may own the trademark displayed on this website. Your use of the trademarks displayed on this website, except as provided herein, is strictly prohibited as such modification or use violates our intellectual property rights.

Links to Other Websites / Third Party Content
Some of the content available on this website may be provided by a third party. While Harris believes this information to be reliable, we do not guarantee the accuracy, timeliness, completeness, reliability or availability of such information. We may establish links between this website and one or more websites operated by third parties. We do not prepare, edit, endorse or control the content or the products or services offered on or available from any other website owned or operated by a third party that is linked to this website. The existence of any such links shall not constitute an endorsement of, affiliation with, sponsorship or approval of, or representation or warranty by us regarding the content of the websites, the products or services of the websites or the owners or operators of the websites. Your access to and use of such linked websites is governed by the terms of use and privacy policies of those sites and shall be at your own risk. We disclaim responsibility for the privacy policies and customer information practices of certain third-party internet websites hyperlinked from our website.
 
Links to Harris from Other Websites
You may not display a hyperlink to any website owned or operated by Harris or any of its affiliates without our prior written consent. Requests for such approval should be submitted via the Contact Us form.

Transmissions to and From this Website
This website offers you the ability to email a message to Harris. Electronic communications can be intercepted by third parties and, accordingly, transmissions to and from this website may not be secure. When sending an email through this website, you should NOT include your user name or password or any other personally identifiable or private information such as your social security number or account number. Additionally, you should not submit any other confidential or proprietary information through this website. Harris specifically disclaims any warranty of security for an email transmitted to Harris. You agree that you may not use the email function of this website to request, authorize or effect the purchase or sale of any securities or other product, to change your account information or to send any other instructions regarding your account. Harris shall have no liability for any loss or damage that results from interception and/or unauthorized access and use by third parties of any information you send by email.

All information and material submitted through the website shall be deemed to be the property of Harris unless otherwise stated on this website, in our Privacy Policy or in any agreement with you. Should you provide unsolicited ideas or material of any kind (“Communications”), you represent to us that you own all rights to such information and you hereby grant Harris a perpetual, worldwide, royalty-free, irrevocable license to edit, reproduce, disclose, transmit, publish, broadcast or post such Communications either on the website or elsewhere with no liability or obligation to you, except as otherwise specifically agreed or as required by law.

In lieu of sending information to Harris via this website, you may send Communications by mail, particularly those containing confidential information, to: Harris Associates L.P., Two North LaSalle Street Suite 500, Chicago IL, 60602, Attn: Legal / Compliance.

Privacy Policy
Please review our Privacy Policy, which is part of these Terms and hereby incorporated by reference, to learn about our information collection practices and the measures we take to preserve the privacy and security of your information.

Password Security
Certain parts of the website are protected by passwords or require a login and are restricted to authorized users only. You may not obtain unauthorized access to such parts of the website or to any other protected materials or information through any means without Harris authorization for your specific use. If you have a user name and password for access to non-public areas of the website, you are solely responsible for all activities that occur in connection with your user name and password. You should take all reasonable steps to protect the confidentiality of your user name and password. Notify Harris immediately if you become aware of any disclosure, loss, theft or unauthorized use of your username and password.

Cookies
We use cookies on our website. Cookies are small text files that are transferred to your computer’s hard drive through your web browser to allow you to carry information across pages of our website. We also use cookies to help us to compile statistics regarding how users use our website in order to optimize our website design and improve its overall functionality. 

Most web browsers will automatically accept cookies but, if you wish, you can set your browser to prevent it from accepting cookies. The cookies we use do not detect any information that is stored on your computer.

Termination
Harris may terminate your access to the website for any reason, without prior notice.

Waiver
No waiver by Harris of any right, term or provision under these Terms will be deemed a waiver of any other right, term or provision of these Terms at the time of such waiver or a waiver of that or any other right, term or provision of these Terms at any other time.

Integration and Severability
If any provision of these Terms is deemed unlawful, void or for any reason unenforceable, then that provision will be deemed severable from these Terms and will not affect the validity and enforceability of the remaining provisions.

Headings
Headings are inserted for convenience of reference only and do not constitute a part of the terms and conditions of use.

Last Updated: January 1, 2020