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
|
+$1.02B |
| 2 |
Targa Resources
TRGP
|
+$649M |
| 3 |
Keurig Dr Pepper
KDP
|
+$486M |
| 4 |
Union Pacific
UNP
|
+$330M |
| 5 |
Elevance Health
ELV
|
+$281M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class A
GOOGL
|
+$910M |
| 2 |
CBRE Group
CBRE
|
+$341M |
| 3 |
Centene
CNC
|
+$341M |
| 4 |
TE Connectivity
TEL
|
+$299M |
| 5 |
General Motors
GM
|
+$237M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 30.34% |
| 2 | Healthcare | 12.63% |
| 3 | Consumer Discretionary | 11.43% |
| 4 | Communication Services | 11.39% |
| 5 | Industrials | 10.14% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
151
Chevron
CVX
$403B
| $257K | ﹤0.01% |
1,653
-844
| -34% | -$131K |
|
152
Aon
AON
$75.3B
| $251K | ﹤0.01% |
704
+5
| +0.7% | +$1.81K |
|
|
PDX
153
PIMCO Dynamic Income Strategy Fund
PDX
$970M
| $249K | ﹤0.01% |
10,000
| – | – |
|
154
Booking.com
BKNG
$158B
| $248K | ﹤0.01% |
1,150
| – | – |
|
155
Advanced Micro Devices
AMD
$773B
| $248K | ﹤0.01% |
1,530
-330
| -18% | -$53.3K |
|
156
Automatic Data Processing
ADP
$112B
| $236K | ﹤0.01% |
805
-800
| -50% | -$241K |
|
157
Parker-Hannifin
PH
$126B
| $224K | ﹤0.01% |
295
| – | – |
|
158
ExxonMobil
XOM
$679B
| $222K | ﹤0.01% |
1,966
-5,200
| -73% | -$578K |
|
159
Walt Disney
DIS
$186B
| $220K | ﹤0.01% |
1,923
+310
| +19% | +$36.5K |
|
160
L3Harris
LHX
$49.7B
| $218K | ﹤0.01% |
+713
| New | +$195K |
|
161
Motorola Solutions
MSI
$79.5B
| $214K | ﹤0.01% |
+469
| New | +$211K |
|
162
Honeywell
HON
$68.4B
| $214K | ﹤0.01% |
1,077
-342
| -24% | -$71.4K |
|
163
Oshkosh
OSK
$9.7B
| $213K | ﹤0.01% |
+1,645
| New | +$218K |
|
164
Coca-Cola
KO
$392B
| $212K | ﹤0.01% |
+3,190
| New | +$220K |
|
165
Qualcomm
QCOM
$169B
| $211K | ﹤0.01% |
+1,266
| New | +$201K |
|
166
Prudential
PUK
$35B
| $210K | ﹤0.01% |
7,495
-1,375
| -16% | -$36K |
|
167
Vanguard Morningstar Mid-Cap Growth ETF
VOT
$19.7B
| $206K | ﹤0.01% |
700
| – | – |
|
168
iShares MSCI ACWI ETF
ACWI
$33.3B
| $151K | ﹤0.01% |
1,092
| – | – |
|
169
iShares Broad USD High Yield Corporate Bond ETF
USHY
$29.2B
| $143K | ﹤0.01% |
+3,795
| New | +$142K |
|
170
Vanguard Morningstar Value ETF
VTV
$193B
| $139K | ﹤0.01% |
748
-2,234
| -75% | -$404K |
|
171
iShares Russell 2000 ETF
IWM
$81.9B
| $129K | ﹤0.01% |
533
-250
| -32% | -$57.4K |
|
172
iShares Russell Mid-Cap ETF
IWR
$57.7B
| $96.5K | ﹤0.01% |
1,000
| – | – |
|
|
GLIBA
173
Liberty Capital Corp Series A GCI Group Common Stock
GLIBA
$1.04B
| $75.1K | ﹤0.01% |
+2,000
| New | +$71K |
|
174
iShares MSCI EAFE ETF
EFA
$80B
| $43.7K | ﹤0.01% |
468
-201
| -30% | -$18.3K |
|
175
iShares MSCI India ETF
INDA
$6.61B
| $31.2K | ﹤0.01% |
600
| – | – |
|
Similar funds
Bill Nygren's Q3 2025 Portfolio in Review
As of Q3 2025, Bill Nygren held 189 positions worth $62.4B, up 1.4% from $61.5B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
Bill Nygren's Q3 2025 filing shows 18 new, 41 increased, 101 reduced and 12 closed positions. Its largest new stake was Union Pacific: 1,465,587 shares worth $346M. The largest sale was Alphabet (Google) Class A, an estimated $910M.
By sector, the portfolio is most concentrated in Financials at 30% of assets, down from 32% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Bill Nygren's largest Q3 2025 buy was Union Pacific: 1,465,587 shares worth $346M.
- Bill Nygren added most to Salesforce in Q3 2025, an estimated $1.02B increase.
- Bill Nygren's biggest Q3 2025 reduction was Alphabet (Google) Class A, cutting an estimated $910M.
- Bill Nygren fully exited Open Text in Q3 2025, selling an estimated $161M.
- Bill Nygren's ten largest holdings make up 32% of its $62.4B portfolio in Q3 2025.
- Bill Nygren opened 18 new positions and closed 12 in Q3 2025.
- Bill Nygren's portfolio value rose 1.4% quarter-over-quarter to $62.4B.
Based on Harris Associates's 13F filing for Q3 2025, filed 14 Nov 2025.