Oakmark Select Fund Adds Rocket Companies to Q3 2026 Portfolio

Harris Oakmark added Rocket Companies, Inc. (NYSE: RKT) to its Oakmark Select Fund during the third quarter of 2026, according to the fund's investor letter. The non-diversified fund, which targets capital appreciation through mid- and large-cap US companies, cited the mortgage lender's technology-driven platform and market share gains as key reasons for the new position.

The Oakmark Select Fund significantly outperformed the S&P 500 Index in the third quarter of 2026, returning 11.50% compared to the index's 2.30%. Information technology and health care sectors drove this outperformance, while consumer staples and real estate weighed on results. The fund's manager noted that heavy market concentration creates opportunities in underappreciated sectors, favoring disciplined buying of high-quality businesses below intrinsic value.

Rocket Companies operates a technology-driven platform that spans direct-to-consumer lending, partner channel mortgages, and adjacent businesses including Rocket Money, Redfin, and personal loans. In its investor letter, Harris Oakmark stated that the company has consistently gained market share through its scale and low-cost operating model, noting a long runway for growth in a fragmented industry. The fund argued that current valuations fail to reflect the company's potential profitability once mortgage volumes stabilize. Strong execution, a founder-led culture, and resilient performance through the current downturn were cited as supporting an attractive risk-reward profile.

As of October 14, 2026, Rocket Companies closed at $10.53 with a market capitalization of $29.82 billion. The stock posted a 43.49% year-to-date pullback and trades within a 52-week range of $10.18 to $24.36. The company is not currently listed among the 40 most popular stocks among hedge funds. According to database records, 99 hedge fund portfolios held Rocket Companies at the end of the second quarter, down from 112 in the previous quarter.

While acknowledging the investment potential of Rocket Companies, the source's accompanying analysis suggested that certain artificial intelligence stocks offer greater upside potential and carry less downside risk. The fund's top five holdings for 2026 are available for review to identify its best picks.