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 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 1986
Joined Harris Associates in 1992

News + Insights

Insights

The case for international equities: Is the thesis unfolding?

April 15, 2025

CIO-International Equities and Portfolio Manager David Herro and Director of International Research Justin Hance discuss the positive backdrop for international equities.

David Herro, CFA | Justin Hance, CFA

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, 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, CFA | Michael Manelli, CFA* | Justin Hance, 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.

Understand Our Story