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 | |
|---|---|---|---|---|---|---|
1
Alphabet (Google) Class A
GOOGL
$4.22T
| $2.78B | 4.51% |
15,749,876
-952,318
| -6% | -$156M |
|
2
Capital One
COF
$134B
| $2.14B | 3.48% |
10,068,086
+216,737
| +2% | +$40.4M |
|
|
SCHW
3
Charles Schwab
SCHW
$194B
| $2.1B | 3.41% |
22,969,673
-4,642,770
| -17% | -$389M |
|
4
Intercontinental Exchange
ICE
$90.5B
| $1.88B | 3.06% |
10,270,241
-1,161,041
| -10% | -$199M |
|
|
5
Airbnb
ABNB
$110B
| $1.88B | 3.06% |
14,237,331
+4,292,383
| +43% | +$544M |
|
6
IQVIA
IQV
$42.8B
| $1.85B | 3.01% |
11,753,182
+583,799
| +5% | +$87.9M |
|
7
ConocoPhillips
COP
$162B
| $1.74B | 2.83% |
19,380,459
+1,234,665
| +7% | +$111M |
|
8
Phillips 66
PSX
$96.9B
| $1.6B | 2.61% |
13,449,090
-385,734
| -3% | -$43.2M |
|
9
Keurig Dr Pepper
KDP
$43.6B
| $1.56B | 2.53% |
47,118,176
+3,690,070
| +8% | +$125M |
|
10
Charter Communications
CHTR
$17.9B
| $1.5B | 2.44% |
3,672,367
-469,692
| -11% | -$180M |
|
|
11
American International
AIG
$39.8B
| $1.48B | 2.4% |
17,269,384
-5,054,112
| -23% | -$421M |
|
12
First Citizens BancShares
FCNCA
$24.7B
| $1.44B | 2.34% |
736,249
+69,238
| +10% | +$126M |
|
13
Bank of America
BAC
$431B
| $1.39B | 2.26% |
29,413,333
+1,048,474
| +4% | +$44.1M |
|
14
Citigroup
C
$221B
| $1.37B | 2.23% |
16,145,823
+642,484
| +4% | +$46.4M |
|
15
Equifax
EFX
$22.6B
| $1.32B | 2.15% |
5,107,787
+537,230
| +12% | +$137M |
|
16
CBRE Group
CBRE
$44B
| $1.27B | 2.07% |
9,094,648
-590,699
| -6% | -$74.7M |
|
17
Warner Bros
WBD
$71.6B
| $1.25B | 2.03% |
108,926,085
+13,355,021
| +14% | +$125M |
|
18
General Motors
GM
$77.2B
| $1.25B | 2.02% |
25,303,360
-4,365,899
| -15% | -$207M |
|
19
Willis Towers Watson
WTW
$31.8B
| $1.16B | 1.89% |
3,786,257
+229,753
| +6% | +$71.2M |
|
|
20
Deere & Co
DE
$175B
| $1.11B | 1.81% |
2,185,155
-2,032,064
| -48% | -$995M |
|
21
Centene
CNC
$32.1B
| $1.11B | 1.8% |
20,418,731
-717,208
| -3% | -$42.1M |
|
22
Ally Financial
ALLY
$13.1B
| $1.05B | 1.7% |
26,836,790
+1,921,584
| +8% | +$66.6M |
|
|
23
Amazon
AMZN
$2.79T
| $1.03B | 1.68% |
4,703,993
+2,472,578
| +111% | +$489M |
|
|
CNH
24
CNH Industrial
CNH
$19.1B
| $1.02B | 1.67% |
79,030,123
-5,038,501
| -6% | -$62.2M |
|
25
TE Connectivity
TEL
$58.9B
| $928M | 1.51% |
5,499,313
+619,873
| +13% | +$94.1M |
|
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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.