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 | |
|---|---|---|---|---|---|---|
126
ExxonMobil
XOM
$679B
| $772K | ﹤0.01% |
7,166
+1,249
| +21% | +$134K |
|
127
Citizens Financial Group
CFG
$29.4B
| $717K | ﹤0.01% |
16,022
| – | – |
|
128
Danaher
DHR
$154B
| $652K | ﹤0.01% |
3,301
-12,315
| -79% | -$2.39M |
|
129
eBay
EBAY
$46.3B
| $633K | ﹤0.01% |
8,500
-2,000
| -19% | -$142K |
|
130
AbbVie
ABBV
$468B
| $587K | ﹤0.01% |
+3,163
| New | +$588K |
|
131
Costco
COST
$420B
| $575K | ﹤0.01% |
+581
| New | +$577K |
|
132
Broadcom
AVGO
$1.75T
| $560K | ﹤0.01% |
+2,032
| New | +$441K |
|
133
Vanguard Morningstar Value ETF
VTV
$193B
| $527K | ﹤0.01% |
2,982
-3,118
| -51% | -$527K |
|
134
Automatic Data Processing
ADP
$112B
| $495K | ﹤0.01% |
1,605
+250
| +18% | +$76.8K |
|
135
Tenet Healthcare
THC
$22.6B
| $422K | ﹤0.01% |
2,400
| – | – |
|
136
Carter's
CRI
$1.31B
| $418K | ﹤0.01% |
13,870
-108,268
| -89% | -$3.67M |
|
137
McDonald's
MCD
$192B
| $414K | ﹤0.01% |
1,416
-6,544
| -82% | -$2.02M |
|
138
Applied Materials
AMAT
$391B
| $403K | ﹤0.01% |
+2,200
| New | +$349K |
|
139
Chevron
CVX
$403B
| $358K | ﹤0.01% |
2,497
+642
| +35% | +$90.5K |
|
140
PepsiCo
PEP
$196B
| $329K | ﹤0.01% |
+2,495
| New | +$336K |
|
141
Eli Lilly
LLY
$1.12T
| $323K | ﹤0.01% |
+414
| New | +$322K |
|
142
Honeywell
HON
$68.4B
| $311K | ﹤0.01% |
1,419
-1,775
| -56% | -$359K |
|
143
Energy Transfer Partners
ET
$73B
| $299K | ﹤0.01% |
+16,500
| New | +$288K |
|
144
KB Financial Group
KB
$41.4B
| $293K | ﹤0.01% |
+3,545
| New | +$240K |
|
145
Alibaba
BABA
$286B
| $285K | ﹤0.01% |
2,515
-107,371
| -98% | -$12.7M |
|
146
Abbott
ABT
$202B
| $282K | ﹤0.01% |
+2,071
| New | +$273K |
|
147
Fresenius Medical Care
FMS
$12.5B
| $279K | ﹤0.01% |
9,750
-945
| -9% | -$25.4K |
|
148
Procter & Gamble
PG
$336B
| $268K | ﹤0.01% |
+1,685
| New | +$275K |
|
|
PDX
149
PIMCO Dynamic Income Strategy Fund
PDX
$970M
| $268K | ﹤0.01% |
+10,000
| New | +$228K |
|
150
Invesco S&P 500 Equal Weight ETF
RSP
$99.5B
| $267K | ﹤0.01% |
+1,469
| New | +$254K |
|
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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.