Oakmark Fund (Investor)
Figures last verified October 31, 2026
Concentrated value investing in companies trading well below the managers' estimate of intrinsic business value.
Oakmark under Bill Nygren has been a loud pulpit for old-school intrinsic-value investing: a concentrated book of businesses bought at deep discounts to private-market worth, including value-heretical positions like buying Alphabet when 'value' funds weren't supposed to own tech. The willingness to define value by business quality rather than statistical cheapness is the fund's signature.
Concentration cuts hot and cold: Oakmark's great years embarrass the index and its bad ones embarrass the shareholders, with multi-year droughts followed by vindication runs. At 0.89% it needs that vindication to repeat regularly. This is a fund you buy because you share its philosophy and will hold through the mockery phase — buying it for last year's numbers is precisely how its least-happy shareholders arrived.
Value purists who want concentration and can stomach the tracking error.
OAKMX alternatives & comparable funds
If you’re weighing OAKMX against the field, these are the funds most investors line it up against — same job, different provider, slightly different terms.
| Fund | Family | Expense Ratio | Minimum |
|---|---|---|---|
| OAKMX — Oakmark Fund (Investor) | Oakmark | 0.89% | $0 |
| DODGX — Dodge & Cox Stock Fund | Dodge & Cox | 0.51% | $2,500 |
| VVIAX — Vanguard Value Index Fund … | Vanguard | 0.05% | $3,000 |
| YACKX — AMG Yacktman Fund (Service) | AMG / Yacktman | 0.71% | $100,000 |
Frequently asked questions
What is the expense ratio of OAKMX?
OAKMX (Oakmark Fund (Investor)) has an expense ratio of 0.89%, which works out to roughly $89 per year for every $10,000 invested. That is high relative to index alternatives, and it compounds against you every year, so the fund needs to outperform just to break even versus a cheaper option.
What is the minimum investment for OAKMX?
OAKMX has no minimum initial investment — you can start with any amount.
What does OAKMX invest in?
Concentrated value investing in companies trading well below the managers' estimate of intrinsic business value. It falls in the large value category and is an actively managed fund.
What are good alternatives to OAKMX?
The funds most often compared with OAKMX are DODGX, VVIAX, YACKX — broadly similar exposure from different providers, with small differences in fee, minimum, and portability that usually come down to which brokerage holds your account.
Expense ratio and minimum for OAKMX drawn from Oakmark fund documentation; last verified October 31, 2026. Figures change — confirm against the official prospectus before investing. This review is editorial opinion, not investment advice.