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Harris | Oakmark

A consistent, high-conviction approach to value investing.

An unwavering focus on value investing drives every decision at Harris Associates, investment adviser to the Oakmark Funds and an affiliate of Natixis Investment Managers International. Following a consistent, high-conviction approach since it was founded in 1976, Harris has earned a reputation as a leader in value investing. 

Harris actively manages U.S., international and global equity strategies, as well as US fixed income strategies for investors worldwide. As patient investors that believes that the intrinsic value of an underlying business will be recognized by the market over time, Harris is dedicated to delivering long-term investment performance for all clients. 

We invest in businesses that are priced at substantial discounts to our estimate of intrinsic value, believing this approach provides us with a margin of safety, which reduces risk and allows for above-average returns over time.”
– Bill Nygren, Partner, CIO-US, Portfolio Manager
Harris Associates
Founded
1976
Headquartered
Chicago, IL, USA
Expertise
High-conviction value investing across U.S., international and global equity; balanced strategies; and U.S. bond strategies
AUM
US$ 95.20 Billion as of March 31, 2025
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Approach 

Every portfolio manager at Harris follows the same investment process under all market conditions, believing that strict adherence to the firm’s three value tenets can reduce risk and increase returns over time.

Price

Buy businesses at a significant discount to their estimate of intrinsic value

Growth

Invest in companies expected to grow per share value over time

Management

Invest with management teams that think and act as owners

Research-driven investment process

Portfolios are built from the bottom up, focusing on company fundamentals to estimate intrinsic value and set buy and sell targets. Integral to Harris’ research-driven investment process, all research analysts are generalists. This approach ensures that they remain industry agnostic and focused on finding value, regardless of which industries or geographies are in favor at the moment.  Overall, the investment opportunities that make it through this rigorous process are then used to build portfolios, one investment at a time. 

 

Portfolios are built from the bottom up
  • High-conviction, actively managed portfolios
  • Consistent investment philosophy and disciplined research process
  • Long-term investment horizon

Funds

Related insights

video
Fixed income
Backdrop for bond investing remains favorable
Higher yields and value opportunities are among favorability factors seen in fixed income by Harris | Oakmark’s Adam Abbas.
video
Equities
Is now an unusually attractive time for value stocks?
Portfolio Manager Bill Nygren shares why value stocks abound in many sectors and how they may help reduce overall portfolio risk.
video
Fixed income
Why elevated macro uncertainty breeds bond opportunities
Portfolio Manager Adam Abbas discusses today’s market dynamics and where he sees fixed income opportunities ahead.

Got questions?

Learn more about our affiliate asset managers or a specific investment strategy.
Contact us

Assets under management (AUM) as of March 31, 2025. AUM, as reported, may include notional assets, assets serviced, gross assets, assets of minority-owned affiliated entities and other types of nonregulatory AUM managed or serviced by firms affiliated with Natixis Investment Managers.

All investing involves risk, including the risk of loss of principal. For detailed risk information, please click the link for each product.

Harris Associates L.P. is the Fund’s investment adviser. The Oakmark ETFs are distributed by Foreside Fund Services, LLC. Harris Associates L.P. and Harris Associates Securities L.P. are not affiliated with Foreside Fund Services, LLC. Natixis Distribution, LLC (member FINRA | SIPC) is a marketing agent for the Oakmark Funds and Oakmark ETF.

The investment management subsidiaries of Natixis Investment Managers conduct any regulated activities only in and from the jurisdictions in which they are licensed or authorized. Their services and the products they manage are not available to all investors in all jurisdictions.

Natixis Distribution, LLC (member FINRA|SIPC) is a marketing agent for the Oakmark Funds, a limited purpose broker-dealer and the distributor of various registered investment companies for which advisory services are provided by affiliates of Natixis Investment Managers.

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