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
|
+$713M |
| 2 |
Airbnb
ABNB
|
+$544M |
| 3 |
Nike
NKE
|
+$525M |
| 4 |
Amazon
AMZN
|
+$489M |
| 5 |
Zimmer Biomet
ZBH
|
+$361M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Deere & Co
DE
|
+$995M |
| 2 |
Kroger
KR
|
+$666M |
| 3 |
Kenvue
KVUE
|
+$483M |
| 4 |
American International
AIG
|
+$421M |
| 5 |
Corteva
CTVA
|
+$403M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 31.67% |
| 2 | Healthcare | 12.4% |
| 3 | Consumer Discretionary | 12.37% |
| 4 | Communication Services | 11.88% |
| 5 | Industrials | 9.67% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
SPNS
101
DELISTED
Sapiens International
SPNS
| $19.7M | 0.03% |
673,980
+178,100
| +36% | +$4.96M |
|
102
Crown Holdings
CCK
$13B
| $19.4M | 0.03% |
188,289
-7,700
| -4% | -$733K |
|
103
Colliers International
CIGI
$5.47B
| $13.9M | 0.02% |
106,200
+21,900
| +26% | +$2.67M |
|
104
Berkshire Hathaway Class B
BRK.B
$1.06T
| $13.5M | 0.02% |
27,699
-983
| -3% | -$499K |
|
105
Texas Instruments
TXN
$241B
| $10.1M | 0.02% |
48,740
+798
| +2% | +$142K |
|
106
Howard Hughes
HHH
$3.97B
| $8.41M | 0.01% |
124,601
-1,463,706
| -92% | -$100M |
|
107
CSX Corp
CSX
$95.6B
| $6.34M | 0.01% |
+194,360
| New | +$5.85M |
|
108
Netflix
NFLX
$331B
| $4.31M | 0.01% |
32,190
-920
| -3% | -$104K |
|
109
Microsoft
MSFT
$3.59T
| $3.36M | 0.01% |
6,750
+2,953
| +78% | +$1.28M |
|
110
NVIDIA
NVDA
$5.2T
| $2.64M | ﹤0.01% |
16,700
+12,360
| +285% | +$1.56M |
|
111
Meta Platforms (Facebook)
META
$1.4T
| $2.62M | ﹤0.01% |
3,545
+898
| +34% | +$555K |
|
112
Carlisle Companies
CSL
$14.6B
| $2.5M | ﹤0.01% |
6,685
-3,533
| -35% | -$1.31M |
|
113
Dover
DOV
$27.2B
| $2.25M | ﹤0.01% |
12,287
-633
| -5% | -$110K |
|
114
JPMorgan Chase
JPM
$935B
| $1.68M | ﹤0.01% |
5,804
+916
| +19% | +$234K |
|
115
Workday
WDAY
$49.4B
| $1.46M | ﹤0.01% |
6,104
-18,064
| -75% | -$4.4M |
|
116
Moody's
MCO
$87.2B
| $1.46M | ﹤0.01% |
2,915
-375
| -11% | -$174K |
|
117
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $1.41M | ﹤0.01% |
2,287
-559
| -20% | -$320K |
|
|
LBRDA
118
DELISTED
Liberty Broadband Class A
LBRDA
| $1.31M | ﹤0.01% |
13,345
-4,785
| -26% | -$424K |
|
119
MasterBrand
MBC
$1.85B
| $1.23M | ﹤0.01% |
112,402
+62,040
| +123% | +$687K |
|
120
Diageo
DEO
$52.6B
| $1.21M | ﹤0.01% |
11,994
+428
| +4% | +$46.4K |
|
121
Truist Financial
TFC
$61.6B
| $1.2M | ﹤0.01% |
27,930
-384,380
| -93% | -$15M |
|
122
Caterpillar
CAT
$381B
| $1.03M | ﹤0.01% |
2,658
+778
| +41% | +$259K |
|
123
Johnson Controls International
JCI
$86.7B
| $998K | ﹤0.01% |
9,450
-2,900
| -23% | -$267K |
|
124
Herc Holdings
HRI
$5.41B
| $955K | ﹤0.01% |
7,250
| – | – |
|
125
Philip Morris
PM
$293B
| $929K | ﹤0.01% |
5,099
+399
| +8% | +$68.5K |
|
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Bill Nygren's Q2 2025 Portfolio in Review
As of Q2 2025, Bill Nygren held 188 positions worth $61.5B, up 3.3% from $59.5B the previous quarter. Its ten largest holdings account for 31% of the portfolio.
Bill Nygren's Q2 2025 filing shows 30 new, 59 increased, 77 reduced and 17 closed positions. Its largest new stake was Nike: 8,748,943 shares worth $622M. The largest sale was Deere & Co, an estimated $995M.
By sector, the portfolio is most concentrated in Financials at 32% of assets, up from 31% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Bill Nygren's largest Q2 2025 buy was Nike: 8,748,943 shares worth $622M.
- Bill Nygren added most to Salesforce in Q2 2025, an estimated $713M increase.
- Bill Nygren's biggest Q2 2025 reduction was Deere & Co, cutting an estimated $995M.
- Bill Nygren fully exited LPL Financial in Q2 2025, selling an estimated $44.3M.
- Bill Nygren's ten largest holdings make up 31% of its $61.5B portfolio in Q2 2025.
- Bill Nygren opened 30 new positions and closed 17 in Q2 2025.
- Bill Nygren's portfolio value rose 3.3% quarter-over-quarter to $61.5B.
Based on Harris Associates's 13F filing for Q2 2025, filed 14 Aug 2025.