OAYLX Fees and Costs — Oakmark Select Fund, Advisor Class
Data updated: 2026-08-26
The net expense ratio is 0.87%: a 0.71% management fee plus 0.16% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $2.4M in broker commissions, 0.0329% of average net assets, and portfolio turnover was 28%.
OAYLX Fees and Expenses
Annual operating expenses and sales charges of OAYLX. Prospectus, as of January 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.71% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.16% |
| Gross expense ratio | 0.87% |
| Fee waiver | — |
| Net expense ratio | 0.87% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
OAYLX Costs Over Time
On $10,000 invested in OAYLX, assuming 5% a year before costs, total costs come to $566 over 5 years, cutting the return by 0.95% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.87%) | $91 | $285 | $495 |
| Trading costs (broker commissions) | $3 | $11 | $19 |
| Lost growth on money paid in costs | $0 | $15 | $52 |
| Total costs | $95 | $311 | $566 |
| Value after costs | $10,405 | $11,266 | $12,197 |
| Impact on return, per year | 0.95% | 0.95% | 0.95% |
OAYLX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0329%
- Total broker commissions: $2.4M
- Bought from dealers (principal trades, not a cost): $114.2B
- Portfolio turnover (prospectus): 28%
- Securities lending: none during the year
OAYLX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $878K | 41.30% |
| BofA Securities, Inc. | $311K | 14.63% |
| Sanford C. Bernstein & Co., LLC | $194K | 9.11% |
| BMO Capital Markets Corp. | $175K | 8.23% |
| BNY Capital Markets, LLC | $153K | 7.17% |
| Morgan Stanley & Co. LLC | $150K | 7.03% |
| Jefferies LLC | $124K | 5.81% |
| Evercore Group L.L.C. | $49K | 2.28% |
| RBC Capital Markets, LLC | $48K | 2.28% |
| Jane Street Execution Services, LLC | $46K | 2.15% |
OAYLX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $114.2B | 100.00% |
Oakmark Select Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| OAZLX | R6 Class | 0.73% | — |
| OANLX | Institutional Class | 0.76% | — |
| OAYLX | Advisor Class | 0.87% | — |
| OAKLX | Investor Class | 1.00% | — |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.