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 | |
|---|---|---|---|---|---|---|
151
Booking.com
BKNG
$158B
| $266K | ﹤0.01% |
1,150
-375
| -25% | -$76.8K |
|
152
Advanced Micro Devices
AMD
$773B
| $264K | ﹤0.01% |
+1,860
| New | +$202K |
|
153
Walmart Inc
WMT
$825B
| $258K | ﹤0.01% |
2,637
-16,785
| -86% | -$1.6M |
|
154
Home Depot
HD
$335B
| $254K | ﹤0.01% |
+693
| New | +$251K |
|
155
Aon
AON
$75.3B
| $249K | ﹤0.01% |
+699
| New | +$253K |
|
156
HDFC Bank
HDB
$121B
| $230K | ﹤0.01% |
+6,000
| New | +$217K |
|
157
Stryker
SYK
$126B
| $226K | ﹤0.01% |
+571
| New | +$214K |
|
158
Prudential
PUK
$35B
| $222K | ﹤0.01% |
8,870
-2,685
| -23% | -$60.1K |
|
159
Zoetis
ZTS
$32.1B
| $219K | ﹤0.01% |
+1,405
| New | +$223K |
|
160
Intuit
INTU
$100B
| $208K | ﹤0.01% |
+264
| New | +$179K |
|
161
Parker-Hannifin
PH
$126B
| $206K | ﹤0.01% |
+295
| New | +$186K |
|
162
Walt Disney
DIS
$186B
| $200K | ﹤0.01% |
1,613
-3,404
| -68% | -$354K |
|
163
Vanguard Morningstar Mid-Cap Growth ETF
VOT
$19.7B
| $199K | ﹤0.01% |
+700
| New | +$180K |
|
|
BTX
164
BlackRock Technology and Private Equity Term Trust
BTX
$1.05B
| $184K | ﹤0.01% |
+25,000
| New | +$165K |
|
165
iShares Russell 2000 ETF
IWM
$81.9B
| $169K | ﹤0.01% |
783
+250
| +47% | +$50.3K |
|
166
iShares MSCI ACWI ETF
ACWI
$33.3B
| $140K | ﹤0.01% |
1,092
-800
| -42% | -$95.9K |
|
167
Lloyds Banking Group
LYG
$87.3B
| $122K | ﹤0.01% |
28,590
-16,800
| -37% | -$66.8K |
|
168
iShares Russell Mid-Cap ETF
IWR
$57.7B
| $91.9K | ﹤0.01% |
+1,000
| New | +$86.4K |
|
169
iShares MSCI EAFE ETF
EFA
$80B
| $59.8K | ﹤0.01% |
669
-213
| -24% | -$18.2K |
|
170
iShares MSCI India ETF
INDA
$6.61B
| $33.4K | ﹤0.01% |
600
| – | – |
|
171
iShares MSCI Europe Financials ETF
EUFN
$4.28B
| $19K | ﹤0.01% |
600
| – | – |
|
172
iShares MSCI ACWI ex US ETF
ACWX
$12B
| – | – |
-94
| Closed | -$5.21K |
|
173
Bristol-Myers Squibb
BMY
$137B
| – | – |
-12,000
| Closed | -$732K |
|
174
iShares MSCI Emerging Markets ETF
EEM
$30.7B
| – | – |
-51
| Closed | -$2.23K |
|
175
Etsy
ETSY
$7.44B
| – | – |
-24,571
| Closed | -$1.16M |
|
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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.