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Bill Nygren Harris Associates

AUM $75.4B
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
+0.77%
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
$59.5B
AUM Growth
-$16.4B
Cap. Flow
-$712M
Cap. Flow %
-1.2%
Top 10 Hldgs %
32.77%
Holding
170
New
18
Increased
50
Reduced
81
Closed
12

Top Buys

Rank Stock Value
1
ABNB icon
Airbnb
ABNB
+$616M
2
KDP icon
Keurig Dr Pepper
KDP
+$490M
3
COP icon
ConocoPhillips
COP
+$361M
4
MOH icon
Molina Healthcare
MOH
+$316M
5
MPC icon
Marathon Petroleum
MPC
+$316M

Top Sells

Rank Stock Value
1
FISV
Fiserv Inc
FISV
+$745M
2
KR icon
Kroger
KR
+$603M
3
CNH
CNH Industrial
CNH
+$402M
4
COF icon
Capital One
COF
+$380M
5
ICE icon
Intercontinental Exchange
ICE
+$324M

Sector Composition

Rank Sector Weight
1 Financials 31.19%
2 Healthcare 11.77%
3 Communication Services 11.7%
4 Industrials 10.72%
5 Consumer Discretionary 9.92%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EFA icon
151
iShares MSCI EAFE ETF
EFA
$80B
$72.1K ﹤0.01%
882
-90
-9% -$7.25K
INDA icon
152
iShares MSCI India ETF
INDA
$6.61B
$30.9K ﹤0.01%
600
– –
EUFN icon
153
iShares MSCI Europe Financials ETF
EUFN
$4.28B
$17.1K ﹤0.01%
600
– –
IGF icon
154
iShares Global Infrastructure ETF
IGF
$10.5B
$17.1K ﹤0.01%
312
– –
VTI icon
155
Vanguard Morningstar Total Stock Market ETF
VTI
$685B
$13.7K ﹤0.01%
50
– –
ACWX icon
156
iShares MSCI ACWI ex US ETF
ACWX
$12B
$5.21K ﹤0.01%
94
– –
EEM icon
157
iShares MSCI Emerging Markets ETF
EEM
$30.7B
$2.23K ﹤0.01%
51
– –
ITA icon
158
iShares US Aerospace & Defense ETF
ITA
$14.2B
$2.14K ﹤0.01%
+14
New +$2.14K
FLS icon
159
Flowserve
FLS
$10.1B
– –
-11,200
Closed -$644K
GD icon
160
General Dynamics
GD
$104B
– –
-1,325
Closed -$349K
HD icon
161
Home Depot
HD
$335B
– –
-534
Closed -$208K
IJR icon
162
iShares Core S&P Small-Cap ETF
IJR
$111B
– –
-70
Closed -$8.06K
IWD icon
163
iShares Russell 1000 Value ETF
IWD
$84.2B
– –
-59,610
Closed -$11M
LBTYA icon
164
Liberty Global Class A
LBTYA
$3.63B
– –
-6,934,484
Closed -$88.5M
MO icon
165
Altria Group
MO
$110B
– –
-6,550
Closed -$343K
PH icon
166
Parker-Hannifin
PH
$126B
– –
-814
Closed -$518K
UNH icon
167
UnitedHealth
UNH
$350B
– –
-436
Closed -$221K
SW
168
Smurfit Westrock
SW
$25.9B
– –
-273,845
Closed -$14.7M
SNRE
169
DELISTED
Sunrise Communications AG American Depositary Shares representing Class A shares
SNRE
– –
-504,644
Closed -$21.7M
BECN
170
DELISTED
Beacon Roofing Supply, Inc.
BECN
– –
-211,895
Closed -$21.5M
3 4 5 6
7

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Bill Nygren's Q1 2025 Portfolio in Review

As of Q1 2025, Bill Nygren held 170 positions worth $59.5B, down 22% from $76B the previous quarter. Its ten largest holdings account for 33% of the portfolio.

Bill Nygren's Q1 2025 filing shows 18 new, 50 increased, 81 reduced and 12 closed positions. Its largest new stake was Molina Healthcare: 1,047,433 shares worth $345M. The largest sale was Fiserv Inc, an estimated $745M.

By sector, the portfolio is most concentrated in Financials at 31% of assets, up from 25% a quarter earlier, followed by Healthcare and Communication Services.

  • Bill Nygren's largest Q1 2025 buy was Molina Healthcare: 1,047,433 shares worth $345M.
  • Bill Nygren added most to Airbnb in Q1 2025, an estimated $616M increase.
  • Bill Nygren's biggest Q1 2025 reduction was Fiserv Inc, cutting an estimated $745M.
  • Bill Nygren fully exited Liberty Global Class A in Q1 2025, selling an estimated $88.5M.
  • Bill Nygren's ten largest holdings make up 33% of its $59.5B portfolio in Q1 2025.
  • Bill Nygren opened 18 new positions and closed 12 in Q1 2025.
  • Bill Nygren's portfolio value fell 22% quarter-over-quarter to $59.5B.

Based on Harris Associates's 13F filing for Q1 2025, filed 15 May 2025.