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Bill Nygren Harris Associates
AUM
$75.4B
Turnover
12.87%
1-Year Est. Return
14.46%
Bill Nygren is a portfolio manager at Harris Associates and a long-time lead voice behind the Oakmark family of funds. He is known for a value philosophy that seeks growing businesses at discounts to intrinsic value rather than statistically cheap “cigar butts” alone. Nygren’s shareholder letters are popular for clear explanations of valuation, portfolio changes, and long-term equity ownership.
This Fund
S&P 500
This Quarter Est. Return
+7.73%
1 Year Est. Return
+14.46%
3 Year Est. Return
+51.56%
5 Year Est. Return
+71.24%
10 Year Est. Return
+347.3%
AUM
$75.4B
AUM Growth
+$391M
(+0.52%)
Cap. Flow
-$2.78B
Cap. Flow % of AUM
Cap. Flow %
-3.68%
Top 10 Holdings %
Top 10 Hldgs %
31.37%
Holding
171
New
13
Increased
51
Reduced
84
Closed
9
Avg Time Held
Equity + Options
4.7
years
Top 10 Avg Time Held
Equity + Options
2
years
Top 20 Avg Time Held
Equity + Options
1.7
years
Avg Time Held Equity only
4.7
years
Top 10 Avg Time Held Equity only
2
years
Top 20 Avg Time Held Equity only
1.7
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Marsh
MRSH
|
+$588M |
| 2 |
Sysco
SYY
|
+$400M |
| 3 |
Equitable Holdings
EQH
|
+$396M |
| 4 |
Alphabet (Google) Class C
GOOG
|
+$375M |
| 5 |
Booking.com
BKNG
|
+$266M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Phillips 66
PSX
|
+$1.27B |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$766M |
| 3 |
Warner Bros
WBD
|
+$759M |
| 4 |
Charter Communications
CHTR
|
+$650M |
| 5 |
Marathon Petroleum
MPC
|
+$633M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 31.51% |
| 2 | Healthcare | 14.39% |
| 3 | Industrials | 11.71% |
| 4 | Technology | 10.08% |
| 5 | Consumer Discretionary | 9.95% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Keurig Dr Pepper
KDP
$47.1B
| $3.04B | 4.03% |
92,854,297
-228,016
| -0.2% | -$6.64M |
2024 Q2
8 quarters
|
|
2
Airbnb
ABNB
$102B
| $2.7B | 3.58% |
18,861,551
-300,684
| -2% | -$41M |
2024 Q4
6 quarters
|
|
3
Salesforce
CRM
$198B
| $2.53B | 3.35% |
16,151,269
+1,233,276
| +8% | +$217M |
2021 Q1
21 quarters
|
|
4
IQVIA
IQV
$43.9B
| $2.35B | 3.12% |
12,183,830
+555
| +0% | +$96.8K |
2023 Q2
12 quarters
|
|
5
Capital One
COF
$124B
| $2.31B | 3.06% |
11,492,010
+1,134,363
| +11% | +$217M |
2013 Q2
52 quarters
|
|
|
6
Alphabet (Google) Class A
GOOGL
$4.17T
| $2.24B | 2.97% |
6,264,999
-2,128,945
| -25% | -$766M |
2015 Q4
42 quarters
|
|
7
Charles Schwab
SCHW
$159B
| $2.23B | 2.96% |
24,201,471
+2,388,995
| +11% | +$218M |
2018 Q3
31 quarters
|
|
8
Intercontinental Exchange
ICE
$90.7B
| $2.22B | 2.95% |
18,050,700
+1,708,442
| +10% | +$256M |
2021 Q2
20 quarters
|
|
9
Targa Resources
TRGP
$63.2B
| $2.13B | 2.82% |
7,937,530
-785,673
| -9% | -$202M |
2025 Q1
5 quarters
|
|
10
First Citizens BancShares
FCNCA
$24B
| $1.91B | 2.54% |
919,347
-28,754
| -3% | -$57.7M |
2021 Q1
21 quarters
|
|
11
Elevance Health
ELV
$92.9B
| $1.9B | 2.53% |
4,924,511
+127,985
| +3% | +$47.5M |
2024 Q4
6 quarters
|
|
12
Delta Air Lines
DAL
$49.6B
| $1.62B | 2.15% |
17,329,926
-673,028
| -4% | -$50.8M |
2024 Q1
9 quarters
|
|
13
ConocoPhillips
COP
$176B
| $1.58B | 2.09% |
15,178,673
-2,249,978
| -13% | -$267M |
2021 Q1
21 quarters
|
|
14
Merck
MRK
$360B
| $1.55B | 2.06% |
12,073,109
-293,824
| -2% | -$34.4M |
2024 Q3
7 quarters
|
|
15
Willis Towers Watson
WTW
$29.3B
| $1.54B | 2.05% |
5,908,033
-109,649
| -2% | -$29.3M |
2021 Q1
21 quarters
|
|
16
American International
AIG
$42.2B
| $1.52B | 2.01% |
20,357,272
-239,706
| -1% | -$18.2M |
2013 Q2
52 quarters
|
|
|
17
Marsh
MRSH
$89.9B
| $1.45B | 1.92% |
8,687,496
+3,518,377
| +68% | +$588M |
2026 Q1
1 quarter
|
|
18
Corteva
CTVA
$8.59B
| $1.38B | 1.83% |
16,333,110
-323,023
| -2% | -$25.9M |
2023 Q3
11 quarters
|
|
|
19
Sysco
SYY
$40.4B
| $1.36B | 1.81% |
16,292,380
+5,283,368
| +48% | +$400M |
2024 Q4
6 quarters
|
|
20
Bank of America
BAC
$358B
| $1.32B | 1.74% |
23,090,903
+4,183,044
| +22% | +$222M |
2013 Q2
52 quarters
|
|
21
Citigroup
C
$208B
| $1.22B | 1.62% |
8,751,443
-519,209
| -6% | -$67.6M |
2014 Q1
49 quarters
|
|
22
Ally Financial
ALLY
$11.5B
| $1.2B | 1.59% |
26,105,434
-304,851
| -1% | -$13.2M |
2015 Q4
42 quarters
|
|
23
Equifax
EFX
$18.9B
| $1.18B | 1.57% |
7,447,263
-81,853
| -1% | -$14M |
2018 Q2
32 quarters
|
|
24
Amazon
AMZN
$2.7T
| $1.11B | 1.47% |
4,653,406
-107,300
| -2% | -$26.9M |
2021 Q4
18 quarters
|
|
25
Zimmer Biomet
ZBH
$18.1B
| $1.1B | 1.45% |
12,738,025
-221,914
| -2% | -$19.5M |
2025 Q2
4 quarters
|
|
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Bill Nygren's Q2 2026 Portfolio in Review
As of Q2 2026, Bill Nygren held 171 positions worth $75.4B, up 0.52% from $75B the previous quarter. Its ten largest holdings account for 31% of the portfolio.
Bill Nygren withdrew a net $2.78B in Q2 2026, closing 9 positions and reducing 84 holdings. Its most notable exit was Flutter Entertainment, an estimated $115M position sold in full.
By sector, the portfolio is most concentrated in Financials at 32% of assets, up from 29% a quarter earlier, followed by Healthcare and Industrials.
Against the trend, Bill Nygren opened a new position in Booking.com worth $278M.
- Bill Nygren's largest Q2 2026 buy was Booking.com: 1,557,503 shares worth $278M.
- Bill Nygren added most to Marsh in Q2 2026, an estimated $588M increase.
- Bill Nygren's biggest Q2 2026 reduction was Phillips 66, cutting an estimated $1.27B.
- Bill Nygren fully exited Flutter Entertainment in Q2 2026, selling an estimated $115M.
- Bill Nygren's ten largest holdings make up 31% of its $75.4B portfolio in Q2 2026.
- Bill Nygren opened 13 new positions and closed 9 in Q2 2026.
- Bill Nygren's portfolio value rose 0.52% quarter-over-quarter to $75.4B.
Based on Harris Associates's 13F filing for Q2 2026, filed 14 Aug 2026.