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

Michael A. Nicolas, CFA

Partner, Portfolio Manager and U.S. Investment Analyst

Portfolio Manager of the Oakmark Fund, the Oakmark Equity and Income Fund and the Oakmark U.S. Large Cap ETF
Portfolio Manager of the U.S. Equity Strategy
Vice President, Oakmark Funds
B.A., University of Wisconsin-Madison, 2002
Managing Director at Lakeview Investment Group, 2005-13; Senior Analyst at Stratford Advisory Group, 2002-05
Joined the industry in 2003
Joined Harris Associates in 2013

News + Insights

Insights

U.S. equities: The shrinking large cap universe

January 15, 2025

Portfolio Managers Bill Nygren and Mike Nicolas discuss what has contributed to the shrinking large cap universe, how it can impact portfolio construction and...

Bill Nygren, CFA | Michael Nicolas, CFA

News

Mike Nicolas in “Value Investor Insight”

December 31, 2024

Portfolio Manager Mike Nicolas made an investment case for a financials company in a "Value Investor Insight" interview that paid tribute to value investor...

Michael Nicolas, CFA

News

Mike Nicolas on growing per share value over time on “The JRo Show”

March 15, 2024

Portfolio Manager Mike Nicolas discusses why growing per share value over time is a key tenant that helps to avoid value traps during an...

Michael Nicolas, 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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