Harris Associates Company Profile

Background

Overview

Harris Associates L.P., established in 1976, is a Chicago-based investment management firm specializing in value investing strategies. As of June 30, 2025, the firm manages approximately $96 billion in assets across various equity and fixed-income strategies. Harris Associates operates as a subsidiary of Natixis Investment Managers, an American-French financial services firm owned by BPCE. The firm maintains full autonomy over its investment decisions, philosophy, and daily operations.

Mission and Vision

Harris Associates is dedicated to delivering long-term investment performance by identifying businesses trading at significant discounts to their intrinsic value. The firm's mission is to provide clients with a margin of safety, reducing risk and enabling above-average returns over time.

Industry Significance

Renowned for its disciplined value investing approach, Harris Associates has established a strong reputation in the investment management industry. The firm's flagship mutual fund, The Oakmark Fund, launched in 1991, has been recognized for its consistent performance and commitment to value investing principles.

Key Strategic Focus

Core Objectives

Harris Associates focuses on investing in companies that are undervalued relative to their intrinsic worth, aiming to achieve superior long-term returns for its clients. The firm emphasizes a research-driven investment process, grounded in fundamental analysis and a deep understanding of each business's intrinsic value.

Areas of Specialization

The firm specializes in U.S., international, and global equity strategies, as well as U.S. fixed-income strategies. Harris Associates manages assets through separate accounts, commingled vehicles, sub-advisory services, and The Oakmark Funds.

Key Technologies Utilized

Harris Associates employs advanced financial modeling and analytical tools to assess company valuations and market trends. The firm integrates proprietary research methodologies to inform investment decisions, ensuring a comprehensive evaluation of potential investments.

Primary Markets Targeted

The firm's investment strategies target a diverse range of markets, including large-cap, international, global all-cap, global large-cap, concentrated, balanced, international small-cap, Japan, and global concentrated equities.

Financials and Funding

Funding History

Harris Associates has experienced steady growth in assets under management, reflecting its successful investment strategies and client trust. The firm's assets under management were approximately $96 billion as of June 30, 2025.

Recent Funding Rounds

Specific details regarding recent funding rounds are not publicly disclosed. As a subsidiary of Natixis Investment Managers, Harris Associates benefits from the financial backing and resources of its parent company.

Notable Investors

Harris Associates' investors include a diverse group of institutional clients, high-net-worth individuals, and entities seeking value-oriented investment strategies. The firm's commitment to value investing has attracted clients who prioritize long-term performance and risk management.

Utilization of Capital

The capital managed by Harris Associates is allocated across various equity and fixed-income strategies, focusing on undervalued companies with strong growth potential. The firm's disciplined investment approach aims to generate superior returns while managing risk effectively.

Pipeline Development

Key Pipeline Candidates

Harris Associates continually evaluates a broad spectrum of companies across different sectors and geographies to identify investment opportunities that align with its value investing philosophy. The firm's research-driven process involves assessing companies' intrinsic value, growth prospects, and management quality.

Stages of Development

The firm's investment process is characterized by a bottom-up approach, focusing on individual company fundamentals to estimate intrinsic value and set buy and sell targets. This method ensures that investment decisions are based on thorough analysis and a deep understanding of each business.

Target Conditions

Harris Associates targets companies that are trading at significant discounts to their intrinsic value, with expectations of long-term growth in per-share value. The firm seeks management teams that think and act like owners, aligning their interests with those of shareholders.

Anticipated Milestones

The firm's investment milestones are centered around achieving superior long-term returns for clients, with a focus on consistent performance and adherence to value investing principles. Specific timelines for individual investments are determined based on market conditions and company performance.

Technological Platform and Innovation

Proprietary Technologies

Harris Associates utilizes proprietary research methodologies and financial modeling tools to assess company valuations and market trends. The firm's investment process is grounded in fundamental analysis, ensuring a comprehensive evaluation of potential investments.

Significant Scientific Methods

The firm's investment approach is characterized by a bottom-up analysis, focusing on individual company fundamentals to estimate intrinsic value and set buy and sell targets. This method ensures that investment decisions are based on thorough analysis and a deep understanding of each business.

Leadership Team

Executive Profiles

Christopher W. Keller: Partner and President of Harris Associates, responsible for overseeing the firm's operations and strategic direction.

Justin Hance: Partner, Portfolio Manager, and Director of International Equities, leading the firm's international investment strategies.

Daniel Philips: Head Trader, managing the firm's trading operations and execution strategies.

Professional Backgrounds

The leadership team at Harris Associates comprises seasoned professionals with extensive experience in investment management, financial analysis, and portfolio management. Their collective expertise drives the firm's commitment to value investing and long-term client success.

Key Contributions

The leadership team has been instrumental in maintaining the firm's consistent investment philosophy, expanding its global presence, and ensuring the delivery of superior long-term returns for clients.

Competitor Profile

Market Insights and Dynamics

The investment management industry is characterized by a diverse range of firms offering various investment strategies. Harris Associates distinguishes itself through its unwavering focus on value investing, targeting companies trading at significant discounts to their intrinsic value.

Competitor Analysis

Key competitors to Harris Associates include:

Geode Capital Management: Specializes in quantitative investment strategies and has a significant presence in the asset management industry.

MFS Investment Management: Offers a broad range of investment strategies, including equity, fixed income, and alternative investments.

Keystone Capital: Focuses on private equity and venture capital investments, targeting growth-oriented companies.

Strategic Collaborations and Partnerships

Harris Associates operates autonomously within Natixis Investment Managers, allowing it to maintain its value investing philosophy while benefiting from the resources and support of its parent company.

Operational Insights

Strategic Considerations

Harris Associates' value investing approach positions it uniquely in the market, focusing on long-term investments in undervalued companies. This strategy requires a deep understanding of market dynamics and a commitment to thorough research and analysis.

Competitive Advantages

The firm's disciplined investment process, experienced leadership team, and commitment to value investing principles provide a strong foundation for achieving superior long-term returns for clients.

Strategic Opportunities and Future Directions

Strategic Roadmap

Harris Associates continues to refine its investment strategies, focusing on identifying undervalued companies with strong growth potential. The firm remains committed to its value investing philosophy, seeking opportunities that align with its long-term investment objectives.

Future Business Directions

The firm aims to expand its global presence, leveraging its value investing expertise to attract a diverse range of clients seeking long-term investment solutions.

Opportunities for Expansion

Harris Associates explores opportunities to enhance its investment offerings, including potential collaborations and strategic partnerships that align with its value investing approach.

Positioning for Future Objectives

The firm's consistent adherence to value investing principles and its focus on long-term performance position it well to achieve future objectives and continue delivering superior returns for clients.