Fund Evaluator:
Oakmark Investor (OAKMX)
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Best Performing in Large Value Over the Last Year
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Fund Details
Oakmark Investor Overview
Oakmark Investor (OAKMX) is an actively managed U.S. Equity Large Value fund. Oakmark launched the fund in 1991.
The investment seeks long-term capital appreciation. The fund invests primarily in a diversified portfolio of common stocks of U.S. companies. It generally invests in the securities of larger 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 the company's intrinsic value.
About Oakmark Investor (OAKMX)
There are 3 members of the management team with an average tenure of 12.21 years: Robert Bierig (2022), Michael Nicolas (2020), William Nygren (2000). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Russell 1000 Value TR USD index with a weighting of 100%. Oakmark Investor has 62 securities in its portfolio. The top 10 holdings constitute 27.0% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Oakmark Investor is part of the Equity global asset class and is within the U.S. Equity fund group. Oakmark Investor has 2.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 94.0%. There is 2.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Oakmark Investor has 4.1% of the portfolio in cash.
Assets Under Management
The fund has $9 billion in total assets, which is above the $1 billion average for the Large Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
OAKMX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Oakmark Investor expense ratio is high compared to funds in the Large Value category. Oakmark Investor has an expense ratio of 0.89%, which is 4% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Oakmark Investor has a portfolio turnover rate of 63%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 62% for the Large Value category.
Recently, in the month of June 2026, Oakmark Investor returned 0.9%, which earned it a grade of D, as the Large Value category had an average return of 1.6%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Oakmark Investor has a trailing yield of 0.92%, which is below the 1.25% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Oakmark Investor Grades
Year to date, the fund has returned -0.1%, 11.2 percentage points worse than the category, which translates into a grade of F. The fund has returned 8.0% over the past year (grade of F), 13.8% over the past three years (grade of D) and 9.9% per year over the past five years (grade of D) and 13.6% per year over the past 10 years (grade of A).
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OAKMX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| OAKMX Return (NAV) | 0.9% | 2.4% | 8.0% | 13.8% | 9.9% | 13.6% |
| OAKMX Grade | D | F | F | D | D | A |
| +/- Category | -0.7% | -7.4% | -12.9% | -2.1% | -0.5% | 2.3% |
| Large Value Avg | 1.6% | 9.8% | 21.0% | 15.9% | 10.4% | 11.3% |
| OAKMX Tax Cost Ratio | na | na | 0.4% | 0.3% | 0.3% | 0.7% |
OAKMX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| OAKMX Return (NAV) | -0.1% | 14.1% | 16.0% | 30.9% | -13.4% | 34.2% | 12.9% | 27.0% | -12.7% | 21.1% | 18.4% |
| OAKMX Grade | F | D | B | A | F | A | A | B | F | A | A |
| +/- Category | -11.2% | -1.1% | 1.9% | 19.0% | -7.3% | 8.4% | 9.1% | 1.4% | -4.3% | 4.7% | 3.8% |
| Large Value Avg | 11.1% | 15.2% | 14.1% | 11.8% | -6.1% | 25.8% | 3.8% | 25.6% | -8.5% | 16.4% | 14.5% |
| Risk Measures | |
| Standard Deviation: | 13.1% |
| Total Risk Index: | 1.08 - Above Average |
| Category Risk Index: | 1.09 - High |
| Category Risk Grade: | F (89% Rank) |
| Beta: | 0.70 |
| R-Squared: | 48% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Value |
| Bond Investment Style: | na |
| Yield: | 0.9% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $24027 Mil |
| Fund Total Assets: | $9,293 Mil |
| Share Class Type: | Inv |
| Portfolio Turnover: | 63% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 26.3 years | |||
| Average Tenure: 12.2 years | |||
| Managers (Year): Nygren William (2000), Nicolas Michael (2020), Bierig Robert (2022) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 62 |
| % in Top 10 Holdings: | 27.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 2.0% |
Portfolio Allocation |
|
| Domestic Stock: | 94.0% |
| Foreign Stock: | 2.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 4.1% |
Purchase Information
| Fund Family: | Oakmark |
| Phone Number: | 800-625-6275 |
| Website: | www.oakmark.com |
| Status: | Open |
| Inception Date: | August 5, 1991 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.89% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.93% |
| Share Class: | Oakmark Investor |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
