What Oakmark Funds does

Oakmark Funds is a Chicago-headquartered family of eight no-load mutual funds and three actively managed exchange-traded funds (ETFs), advised by Harris Associates L.P. and operating as an autonomous subsidiary of Natixis Investment Managers (itself part of the French Groupe BPCE banking group). The franchise was created in 1991, building on Harris Associates' investment advisory heritage dating to 1976. Oakmark manages approximately $54 billion in fund-level assets as of March 31, 2026, with total Harris Associates assets across all strategies of approximately $114 billion as of December 31, 2025.

The product lineup spans U.S. large-cap equity (Oakmark Fund), concentrated U.S. mid/large-cap (Oakmark Select), global equity (Oakmark Global and Global Select), international equity (Oakmark International and International Small Cap), balanced allocation (Oakmark Equity and Income), and fixed income (Oakmark Bond). The December 2025 launches of OAKI and OAKG extended the existing OAKM ETF into international and global value strategies. All strategies adhere to a disciplined value investing philosophy executed through concentrated, high-active-share portfolios (active share ranging from ~89% to 97%) and team-based fundamental research led by named, long-tenured portfolio managers including Bill Nygren, David Herro, Tony Coniaris, Eric Liu, and Adam Abbas. Each fund is offered across four share classes (Investor, Advisor, Institutional, R6) with progressively lower expense ratios and higher minimums.

Revenue is generated through recurring management fees as a percentage of assets under management, with net expense ratios ranging from approximately 0.30% (Bond Fund R6) to 1.33% (International Small Cap Investor). Distribution occurs through direct-to-consumer channels (oakmark.com, 1-800-OAKMARK), financial intermediaries (broker-dealers, banks, RIAs) via omnibus accounts, dedicated institutional share classes, and NYSE Arca-listed ETFs distributed by Foreside Fund Services. Customer segments include individual retail investors, financial advisors and intermediaries, institutional investors, and ETF investors — primarily within the United States.

Name

Oakmark Funds

Legal name

Harris Associates L.P.

Website

https://oakmark.com

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

11–50 employees

Short description

Oakmark Funds is a Chicago-based family of eight no-load mutual funds and three actively managed ETFs advised by Harris Associates L.P. (a Natixis subsidiary), applying a value investing philosophy across U.S., global, and international equity and fixed income strategies for retail, advisor, institutional, and ETF investors with approximately $54 billion in fund AUM.

Ownership category

akta.pro rank

Headquarters

HQ city

Kansas City

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Investment Management Fees: Oakmark Funds generate revenue through management fees charged as a percentage of assets under management (AUM). Each fund has a stated gross and net expense ratio. For example, the Oakmark Fund (OAKMX) has a net expense ratio of 0.89%, while Institutional and R6 share classes carry lower expense ratios (e.g., Oakmark Fund Institutional: 0.67% net). The firm manages approximately $54 billion in total Oakmark AUM (as of 03/31/2026). Harris Associates L.P., the investment adviser, receives these management fees for portfolio management and administration.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

Oakmark Funds is a family of actively managed mutual funds and ETFs advised by Harris Associates L.P., offering value-oriented equity, balanced, and fixed-income strategies. The firm manages approximately $54 billion in Oakmark AUM across eight mutual funds (spanning U.S. large-cap, U.S. mid/large-cap, global, international, international small-cap, balanced, and core-plus fixed income) and three actively managed ETFs (OAKM, OAKI, OAKG). Funds are sold no-load to individual investors directly and through financial intermediaries, with multiple share classes designed for retail, advisor, and institutional channels.

Product overview

Oakmark Funds is a family of mutual funds and ETFs advised by Harris Associates L.P., advised by a subsidiary of Natixis Investment Managers. The firm manages approximately $54 billion in assets under management (as of March 31, 2026). The product lineup consists of eight mutual funds spanning U.S. large-cap equity (Oakmark Fund), U.S. mid/large-cap concentrated (Oakmark Select Fund), global equity (Oakmark Global Fund, Oakmark Global Select Fund), international equity (Oakmark International Fund, Oakmark International Small Cap Fund), balanced allocation (Oakmark Equity and Income Fund), and fixed income (Oakmark Bond Fund). Additionally, three actively managed ETFs (Oakmark U.S. Large Cap ETF, Oakmark International Large Cap ETF, Oakmark Global Large Cap ETF) were launched in late 2025. All funds adhere to a value investing philosophy, seeking companies trading at discounts to intrinsic value. Each mutual fund is available in four share classes: Investor, Advisor, Institutional, and R6, with varying minimum investment requirements.

Differentiator

Problem solved

Functional benefit

Products and services

• Oakmark Fund (OAKMX) A diversified U.S. large-cap equity fund seeking long-term capital appreciation by investing in larger capitalization U.S. companies. Managed by Bill Nygren, Michael Nicolas, and Robert Bierig. Benchmark: S&P 500.
• Oakmark Select Fund (OAKLX) A non-diversified fund (approximately 20-30 stocks) seeking long-term capital appreciation by investing in mid- and large-cap U.S. companies. Managed by Alex Fitch.
• Oakmark Global Fund (OAKGX) Invests primarily in a diversified portfolio of common stocks of U.S. and non-U.S. companies with an all-cap mandate allowing investment across the market-cap spectrum. Managed by David Herro, Tony Coniaris, Eric Liu, Colin Hudson, and John Sitarz.
• Oakmark Global Select Fund (OAKWX) A non-diversified portfolio of U.S. and non-U.S. common stocks, typically holding 20-30 individual securities with large-cap companies eligible for investment. Managed by Colin Hudson and John Sitarz.
• Oakmark International Fund (OAKIX) A diversified portfolio of common stocks of non-U.S. companies, generally focusing on mid- and large-cap companies with small-cap also eligible. Managed by Tony Coniaris and Eric Liu.
• Oakmark International Small Cap Fund (OAKEX) Seeks capital appreciation by investing in small-cap companies located outside the U.S. Managed by David Herro and Justin Hance. Benchmark: MSCI World ex USA Small Cap Index.
• Oakmark Equity and Income Fund (OAKBX) Seeks income and preservation and growth of capital. Fund is primarily made up of U.S. equity and fixed-income securities. Now distributes income quarterly. Managed by Adam Abbas.
• Oakmark Bond Fund (OAKCX) Invests primarily in a diversified portfolio of bonds and other fixed-income securities, seeking current income and total return. Managed by Adam Abbas.
• Oakmark U.S. Large Cap ETF (OAKM) Actively managed ETF focusing on large-cap value stocks with $1.08 billion in assets. Trades at attractive valuation multiples with forecasted double-digit earnings growth. Part of expanded ETF suite.
• Oakmark International Large Cap ETF (OAKI) Actively managed international large-cap ETF employing value investment philosophy. Launched December 2025 as part of expanded ETF suite targeting international value opportunities.
• Oakmark Global Large Cap ETF (OAKG) Actively managed global large-cap ETF employing value investment philosophy. Launched December 2025 as part of expanded ETF suite targeting global value opportunities.
• Private Wealth Management Customized wealth management services for individuals, families, and advisors offered by Harris Associates since 1976. This private wealth channel provides tailored investment solutions and may include Oakmark Funds as part of client portfolios.

Quantifiable outcome

• Oakmark Fund (OAKMX) 10-year return of 13.62% (as of 06/30/2026), vs. S&P 500 benchmark comparably
• +4 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• Harris Associates L.P.coreOthersHarris Associates L.P. is the investment adviser to the Oakmark Funds, providing portfolio management, research, and operational support. It is an autonomous subsidiary of Natixis Investment Managers, L.P. Harris Associates has managed the Oakmark Funds since their inception in 1991, operating independently with its own investment philosophy and processes.
• Natixis Investment ManagersminorOthersNatixis Investment Managers is the parent company of Harris Associates L.P. Harris Associates operates as an autonomous subsidiary within the Natixis family. Kelly Cameron, Vice President of Public Relations & Communications at Natixis Investment Managers, serves as the media contact for Oakmark Funds.
• Foreside Fund Services, LLCminorChannel Partner/ Reseller/ DistributorForeside Fund Services, LLC is the distributor of the Oakmark ETFs (OAKM, OAKI, OAKG). Harris Associates L.P. and Harris Associates Securities L.P. are not affiliated with Foreside Fund Services, LLC.
• Goldman Sachs Financial Square Treasury Solutions FundminorOthersHarris Associates provides an eligible money market fund option—Administration Shares of the Goldman Sachs Financial Square Treasury Solutions Fund—outside of the Oakmark Funds for shareholders seeking a cash sweep vehicle. Prior to January 28, 2025, these were called Oakmark Units for exchange purposes.
• State Street Bank & Trust CompanyminorOthersState Street Bank & Trust Company serves as the custodian and transfer agent for the Oakmark Funds. Shareholders can make wire transfers for share purchases to a designated State Street account (ABA# 011000028, DDA# 9904-632-8).

Scale indicators12 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• Tweedy, Browne Company: Long-tenured value-oriented investment manager offering global and international value mutual funds. Directly comparable to Oakmark's Global and International funds in investment philosophy (deep value, contrarian) and long-term orientation.
• Dodge & Cox: San Francisco-based active value manager offering a focused mutual fund lineup (U.S. stock, Balanced, International Stock, Global Stock, Income). Closely comparable to Oakmark in philosophy (deep value, high active share, concentrated portfolios) and customer base (long-term retail and institutional). Notably, Oakmark PM Eric Liu previously worked at Dodge & Cox.
• Ariel Investments: Chicago-based active value manager serving individual investors and institutions through mutual funds (Ariel Fund, Ariel Appreciation, Ariel Focus, Ariel International). Shares Oakmark's value philosophy, concentrated portfolio approach, and similar mid-sized AUM scale.
• American Century Investments: Mid-to-large asset manager offering a broad mutual fund and ETF lineup including value-tilted equity strategies. Comparable to Oakmark in product breadth (multi-cap, international, fixed income), retail/intermediary distribution, and value-oriented core offerings.
• Dimensional Fund Advisors: Academic-research-driven active manager with a fast-growing ETF suite (AVUV, AVDV, DFUV). Highly comparable as a direct active value competitor, particularly against Oakmark's newly launched active ETFs (OAKM, OAKI, OAKG), with overlapping target audiences in advisor and self-directed channels.
• Third Avenue Management: Concentrated, deep-value mutual fund manager with strategies spanning small-cap value, international value, and real estate. Closely aligned with Oakmark's value discipline and high-conviction concentrated approach, though operating at a smaller AUM scale.

Broad incumbents

• Fidelity Investments: One of the largest U.S. asset managers offering active mutual funds, ETFs, and managed accounts across all major asset classes. Overlaps with Oakmark in U.S. equity and ETF distribution but competes primarily at scale and through proprietary distribution channels.
• BlackRock: World's largest asset manager offering iShares ETFs and a broad active mutual fund lineup. Comparable through its iShares active value ETF offerings (e.g., IVE, IUSV) and through institutional/retail distribution that overlaps with Oakmark's intermediary and ETF channels.
• T. Rowe Price: Large, diversified global asset manager offering a full suite of active mutual funds and ETFs across equity, fixed income, and multi-asset. Overlaps with Oakmark in active equity and advisor channel distribution but operates at significantly larger AUM scale and broader product breadth.
• Vanguard: Industry-leading low-cost mutual fund and ETF provider with a strong value-tilted index offering (e.g., VTV, VBR). The dominant headwind to all active value managers including Oakmark, given its scale and fee advantage in the same broad style category.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/oakmark-funds

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about Oakmark Funds