Oakmark Equity and Income Fund Adds ELV and Exits PSX
In Q2 2026, Oakmark Equity and Income Fund (OAKBX) returned 4.20%, underperforming its benchmark of a 60% S&P 500 / 40% Bloomberg U.S. Aggregate Bond Index, which delivered returns of 9.31%. The fund's equity portfolio rose by 6.84%, while the fixed income segment gained only 1.13%. Oakmark maintained an allocation of 60.1% in equities and 38.9% in fixed income during this period. The article highlights that the fund added shares of ELV (Eli Lilly) to its portfolio, signaling a strategic shift or confidence in the company's prospects. At the same time, it exited PSX (Phillips 66), indicating a reassessment of risk exposure within the energy sector.
