Bill Nygren Harris Associates
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Salesforce
CRM
|
+$1.06B |
| 2 |
MRSH
Marsh
MRSH
|
+$929M |
| 3 |
Netflix
NFLX
|
+$866M |
| 4 |
SUNB
Sunbelt Rentals Holdings
SUNB
|
+$818M |
| 5 |
Accenture
ACN
|
+$674M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Deere & Co
DE
|
+$1.48B |
| 2 |
Warner Bros
WBD
|
+$1.29B |
| 3 |
Phillips 66
PSX
|
+$759M |
| 4 |
ConocoPhillips
COP
|
+$728M |
| 5 |
EOG Resources
EOG
|
+$393M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 28.67% |
| 2 | Healthcare | 12.65% |
| 3 | Technology | 10.56% |
| 4 | Industrials | 10.45% |
| 5 | Energy | 9.91% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Amazon
AMZN
$2.79T
| $992M | 1.32% |
4,760,706
+297,596
| +7% | +$65.5M |
|
27
Reinsurance Group of America
RGA
$15.9B
| $990M | 1.32% |
4,850,478
+589,400
| +14% | +$122M |
|
|
28
Netflix
NFLX
$331B
| $948M | 1.26% |
9,859,773
+9,827,233
| +30,200% | +$866M |
|
29
Bank of America
BAC
$431B
| $922M | 1.23% |
18,907,859
-945,541
| -5% | -$48.8M |
|
30
Union Pacific
UNP
$183B
| $918M | 1.22% |
3,782,438
+125,928
| +3% | +$30.8M |
|
|
31
Warner Bros
WBD
$71.6B
| $903M | 1.2% |
32,874,039
-45,980,770
| -58% | -$1.29B |
|
|
MRSH
32
Marsh
MRSH
$91.6B
| $897M | 1.19% |
+5,169,119
| New | +$929M |
|
33
Wells Fargo
WFC
$254B
| $874M | 1.17% |
10,983,221
-1,920,422
| -15% | -$165M |
|
34
CBRE Group
CBRE
$44B
| $870M | 1.16% |
6,422,190
-506,431
| -7% | -$77M |
|
35
Charter Communications
CHTR
$17.9B
| $861M | 1.15% |
3,989,043
-355,779
| -8% | -$77.1M |
|
36
AerCap
AER
$23B
| $810M | 1.08% |
5,901,622
+61,142
| +1% | +$8.74M |
|
37
Carlyle Group
CG
$17.6B
| $802M | 1.07% |
16,583,907
+1,385,638
| +9% | +$76.4M |
|
38
Global Payments
GPN
$24.7B
| $798M | 1.06% |
11,855,322
+506,961
| +4% | +$37.4M |
|
39
Sysco
SYY
$40.2B
| $785M | 1.05% |
11,009,012
+3,095,401
| +39% | +$256M |
|
40
Nike
NKE
$60.5B
| $780M | 1.04% |
14,776,259
-180,623
| -1% | -$11M |
|
41
State Street
STT
$51.4B
| $778M | 1.04% |
6,147,935
-158,309
| -3% | -$20.2M |
|
42
Comcast
CMCSA
$95.3B
| $759M | 1.01% |
26,448,063
-1,010,365
| -4% | -$30.2M |
|
|
SUNB
43
Sunbelt Rentals Holdings
SUNB
$31.5B
| $759M | 1.01% |
+11,653,333
| New | +$818M |
|
44
Marathon Petroleum
MPC
$101B
| $685M | 0.91% |
2,805,972
-1,225,990
| -30% | -$248M |
|
45
Nasdaq
NDAQ
$54.9B
| $680M | 0.91% |
8,010,183
-611,506
| -7% | -$54.8M |
|
46
CDW
CDW
$17.2B
| $651M | 0.87% |
5,383,062
+857,250
| +19% | +$108M |
|
|
CNH
47
CNH Industrial
CNH
$19.1B
| $639M | 0.85% |
58,127,119
-15,293,247
| -21% | -$172M |
|
|
AMRZ
48
Amrize Ltd
AMRZ
$25B
| $636M | 0.85% |
11,344,767
-34,780
| -0.3% | -$1.99M |
|
49
Roper Technologies
ROP
$40.7B
| $612M | 0.82% |
+1,729,546
| New | +$638M |
|
|
50
EOG Resources
EOG
$80.3B
| $597M | 0.8% |
4,131,238
-3,241,054
| -44% | -$393M |
|
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Bill Nygren's Q1 2026 Portfolio in Review
As of Q1 2026, Bill Nygren held 184 positions worth $75B, down 5.2% from $79.1B the previous quarter. Its ten largest holdings account for 31% of the portfolio.
Bill Nygren's Q1 2026 filing shows 16 new, 41 increased, 88 reduced and 26 closed positions. Its largest new stake was Marsh: 5,169,119 shares worth $897M. The largest sale was Deere & Co, an estimated $1.48B.
By sector, the portfolio is most concentrated in Financials at 29% of assets, up from 28% a quarter earlier, followed by Healthcare and Technology.
- Bill Nygren's largest Q1 2026 buy was Marsh: 5,169,119 shares worth $897M.
- Bill Nygren added most to Salesforce in Q1 2026, an estimated $1.06B increase.
- Bill Nygren's biggest Q1 2026 reduction was Deere & Co, cutting an estimated $1.48B.
- Bill Nygren fully exited AstraZeneca in Q1 2026, selling an estimated $343M.
- Bill Nygren's ten largest holdings make up 31% of its $75B portfolio in Q1 2026.
- Bill Nygren opened 16 new positions and closed 26 in Q1 2026.
- Bill Nygren's portfolio value fell 5.2% quarter-over-quarter to $75B.
Based on Harris Associates's 13F filing for Q1 2026, filed 15 May 2026.