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 |
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 | |
|---|---|---|---|---|---|---|---|
126
Johnson Controls International
JCI
$86.6B
| $1.07M | ﹤0.01% |
7,350
| – | – |
2017 Q4
34 quarters
|
|
127
Vanguard Morningstar Value ETF
VTV
$193B
| $957K | ﹤0.01% |
4,390
+1,818
| +71% | +$380K |
2024 Q2
8 quarters
|
|
128
Truist Financial
TFC
$59.2B
| $933K | ﹤0.01% |
18,735
-3,895
| -17% | -$192K |
2023 Q1
13 quarters
|
|
129
Moody's
MCO
$84.7B
| $863K | ﹤0.01% |
1,905
| – | – |
2017 Q1
37 quarters
|
|
130
Broadcom
AVGO
$1.54T
| $672K | ﹤0.01% |
1,779
-34
| -2% | -$13.6K |
2025 Q2
4 quarters
|
|
131
Herc Holdings
HRI
$4.46B
| $644K | ﹤0.01% |
4,495
| – | – |
2015 Q4
42 quarters
|
|
132
AbbVie
ABBV
$504B
| $609K | ﹤0.01% |
2,420
-262
| -10% | -$56.4K |
2025 Q2
4 quarters
|
|
133
Eli Lilly
LLY
$1.16T
| $517K | ﹤0.01% |
431
-19
| -4% | -$19.4K |
2025 Q2
4 quarters
|
|
134
Advanced Micro Devices
AMD
$829B
| $508K | ﹤0.01% |
+875
| New | +$359K |
2026 Q2
0 quarters
|
|
135
Tenet Healthcare
THC
$21.8B
| $449K | ﹤0.01% |
2,400
| – | – |
2013 Q2
52 quarters
|
|
136
Blackstone
BX
$94.8B
| $441K | ﹤0.01% |
3,750
| – | – |
2025 Q4
2 quarters
|
|
137
Danaher
DHR
$162B
| $350K | ﹤0.01% |
1,838
| – | – |
2023 Q2
12 quarters
|
|
138
Walmart Inc
WMT
$961B
| $335K | ﹤0.01% |
2,962
+882
| +42% | +$109K |
2025 Q1
5 quarters
|
|
139
Costco
COST
$451B
| $335K | ﹤0.01% |
358
-4
| -1% | -$3.98K |
2025 Q2
4 quarters
|
|
140
iShares 0-3 Month Treasury Bond ETF
SGOV
$116B
| $317K | ﹤0.01% |
3,151
-585
| -16% | -$58.8K |
2025 Q4
2 quarters
|
|
141
Parker-Hannifin
PH
$113B
| $289K | ﹤0.01% |
295
| – | – |
2025 Q2
4 quarters
|
|
142
PepsiCo
PEP
$189B
| $273K | ﹤0.01% |
2,015
+350
| +21% | +$52.3K |
2025 Q2
4 quarters
|
|
143
Unilever
UL
$144B
| $272K | ﹤0.01% |
4,516
+393
| +10% | +$22.7K |
2026 Q1
1 quarter
|
|
144
SAP
SAP
$278B
| $258K | ﹤0.01% |
1,673
+219
| +15% | +$37.4K |
2026 Q1
1 quarter
|
|
145
Intel
INTC
$452B
| $245K | ﹤0.01% |
+1,757
| New | +$178K |
2026 Q2
0 quarters
|
|
146
Oshkosh
OSK
$8.29B
| $242K | ﹤0.01% |
1,575
| – | – |
2025 Q3
3 quarters
|
|
147
Idexx Laboratories
IDXX
$44.6B
| $240K | ﹤0.01% |
455
-27
| -6% | -$15.1K |
2025 Q3
3 quarters
|
|
148
Diageo
DEO
$53.8B
| $233K | ﹤0.01% |
2,895
-400
| -12% | -$32.3K |
2013 Q2
52 quarters
|
|
149
Chevron
CVX
$445B
| $224K | ﹤0.01% |
1,350
| – | – |
2022 Q4
14 quarters
|
|
150
Procter & Gamble
PG
$385B
| $219K | ﹤0.01% |
1,494
| – | – |
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.