OARMX — Oakmark Fund
Data updated: 2026-08-26
OARMX — Oakmark Fund. Leveraged · $24.03B AUM · 1.08% expense ratio · 35.2% 1-yr return. Holdings, fees, performance and SEC filings.
OARMX Fund Overview
OARMX — Oakmark Fund is a US mutual fund managed by Harris Associates Investment Trust, categorised as Leveraged. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Harris Associates Investment Trust
- Category: Leveraged
- Assets under management: $24.03B
- 1-year return: 35.2%
- Ticker: OARMX
- SEC CIK: 0000872323
- SEC series ID: S000002758
- Share class ID: C000007555
OARMX Investment Objective and Strategy
Oakmark Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Harris Associates Investment Trust.
Investment objective
Oakmark Fund seeks long-term capital appreciation.
Principal investment strategy
"The Fund invests primarily in a diversified portfolio of common stocks of U.S. companies. The Fund generally invests in the securities of larger capitalization companies. The Fund uses a value investment philosophy in selecting equity securities. This value investment philosophy is based upon the belief that, over time, a company's stock price converges with the Adviser's estimate of its intrinsic or true business value. By ""true business value,"" the Adviser means its estimate of the price a knowledgeable buyer would pay to acquire the entire business. The Adviser believes that investing in securities priced significantly below what it believes is their true business value presents the best opportunity to achieve the Fund's investment objective. A company trading below its estimated intrinsic value is sometimes referred to as trading at a discount.
The Adviser uses this value investment philosophy to identify companies that it believes have discounted stock prices compared to the companies' true business values. In assessing such companies, the Adviser looks for the following characteristics, although the companies selected may not have all of these attributes: (1) free cash flows and intelligent investment of excess cash; (2) earnings that are growing and are reasonably predictable; and (3) high level of company management ownership. Key Tenets of the Oakmark Value Investment Philosophy: 1. Buy businesses that are trading at a significant discount to the Adviser's estimate of the company's intrinsic value. At the time the Adviser buys a company, the Adviser wants the company's stock to be inexpensive relative to what it believes the entire business is worth.
2. Invest with companies expected to grow shareholder value over time. Value investors can sometimes fall into the trap of buying a stock that is inexpensive for a reasonbecause the company just does not grow. The Adviser looks for good quality, growing businesses with positive free cash flow and intelligent investment of cash. 3. Invest with management teams that think and act as owners. The Adviser seeks out companies with management teams that understand the dynamics of per share value growth and are focused on achieving such growth. Stock ownership and incentives that align managements' interests with those of shareholders are key components of this analysis. In making its investment decisions, the Adviser uses a ""bottom-up"" approach focused on individual companies, rather than focusing on specific economic factors or specific industries.
To facilitate its selection of investments that meet the criteria described above, the Adviser uses independent, in-house research to analyze each company. As part of this selection process, the Adviser's analysts typically visit companies and conduct other research on the companies and their industries. Once the Adviser identifies a stock that it believes is selling at a significant discount to the Adviser's estimated intrinsic value and that the company has one or more of the additional qualities mentioned above, the Adviser may consider buying that stock for the Fund. The Adviser usually sells a stock when the price approaches its estimated value. This means the Adviser sets specific ""buy"" and ""sell"" targets for each stock the Fund holds. The Adviser monitors each portfolio holding and adjusts these price targets as warranted to reflect changes in a company's fundamentals.
The Adviser believes that holding a relatively small number of stocks allows its ""best ideas"" to have a meaningful impact on the Fund's performance. Therefore, the Fund's portfolio typically holds thirty to sixty stocks rather than hundreds, and a higher percentage of the Fund's total assets may at times also be invested in a particular sector or industry."
OARMX Holdings
Top 10 holdings of Oakmark Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Fixed Income Clearing Corp. | 5.42% |
| Targa Resources Corp | 3.22% |
| Delta Air Lines Inc | 3.13% |
| Keurig Dr Pepper Inc | 2.95% |
| Airbnb Inc | 2.92% |
| Citigroup Inc | 2.89% |
| Merck & Co Inc | 2.84% |
| Elevance Health Inc | 2.74% |
| Corteva Inc | 2.67% |
| Ally Financial Inc | 2.54% |
OARMX Portfolio Allocation
Asset-class allocation of Oakmark Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 94.6% |
| Cash & Equivalents | 5.4% |
OARMX Performance
Total returns for OARMX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 35.2% |
| 3 years (annualised) | 20.5% |
OARMX Risk Information
Risk metrics for OARMX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 15.2%
OARMX Costs and Fees
OARMX costs about $108 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.08%
- Gross expense ratio: 1.10%
- Portfolio turnover: 35%
- Brokerage commissions: 4.58 bps of average net assets (SEC N-CEN)
OARMX Cashflows
Over the 12 months to 2026-06, Oakmark Fund had net outflows of $1.97B, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$482.80M |
| 2026-05 | −$330.83M |
| 2026-04 | −$200.19M |
| 2026-03 | $1.27M |
| 2026-02 | −$209.15M |
| 2026-01 | −$456.03M |
OARMX Debt Constituents
No individual debt constituents are reported in Oakmark Fund's latest SEC N-PORT filing.
OARMX Prospectus and SEC Filings
Official Oakmark Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-01-27
- Prospectus (485BPOS) — filed 2025-01-28
- Prospectus supplement (497) — filed 2025-05-19
- Portfolio holdings (N-PORT) — filed 2026-08-26
- Portfolio holdings (N-PORT) — filed 2026-05-28
- Portfolio holdings (N-PORT) — filed 2026-02-25
- Annual census (N-CEN) — filed 2025-12-15
- Annual census (N-CEN) — filed 2024-12-13
Related Funds
Other Leveraged funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.