Great investors · Bill Nygren · Q4 2025
What Bill Nygren bought and sold in Q4 2025
Oakmark (Harris Associates) 13F portfolio as of Dec 31, 2025: 167 positions worth $78.8 bn. Largest: GOOGL, COF, CRM, IQV. Filed with the SEC on Feb 17, 2026.
The 13F is filed by Oakmark (Harris Associates), not by Bill Nygren personally: these are the whole firm's positions. A “position” is a distinct security in the filing (by CUSIP); share classes of the same company are shown added together.
Buys in Q4 2025
- IncreasedTarga ResourcesTRGP+1.3 pp
- IncreasedIntercontinental ExchangeICE+1.1 pp
- NewAerCap HoldingsAER+1.1 pp
- IncreasedSalesforceCRM+0.9 pp
- IncreasedCortevaCTVA+0.9 pp
- IncreasedZimmer Biomet HoldingsZBH+0.9 pp
- IncreasedKeurig Dr PepperKDP+0.8 pp
- NewAmrizeAMRZ+0.8 pp
- IncreasedFiservFISV+0.7 pp
- IncreasedCDWCDW+0.7 pp
- IncreasedElevance HealthELV+0.7 pp
- IncreasedUnion PacificUNP+0.6 pp
Sells in Q4 2025
- ReducedAlphabetGOOGL−1.0 pp
- ReducedWarner Bros. DiscoveryWBD−0.6 pp
- ReducedCitigroupC−0.6 pp
- ReducedBank of AmericaBAC−0.5 pp
26 companies with material moves, out of 26 positions with a change. Only moves of 0.5 points of the portfolio or more are listed, measured as “traded weight” (what was bought or sold, excluding price effects). Smaller changes exist and are not listed: a position may have gone up or down without appearing above.
The full 13F, line by line
Oakmark (Harris Associates)'s Q4 2025 13F lists 167 lines of US-listed securities worth $78.8 bn; the largest is GOOGL at 3.54% of the portfolio. It was accepted by the SEC on Feb 17, 2026 at 5:13 PM ET.
Against the previous quarter, it opened 9 positions (AER, AMRZ, AZN and IT and 5 more), closed 18 (ACVA, GLIBK, CFG and TSM and 14 more), added to 53 (CDW, TRGP, CTVA and ZBH and 49 more) and trimmed 67 (GOOGL, WBD, C and BAC and 63 more). 38 lines show the same number of shares.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | Alphabet GOOGL | 8.9 M | $2.8 bn | 3.54% | −22% |
| 2 | Capital One Financial COF | 10.8 M | $2.6 bn | 3.33% | +20% |
| 3 | Salesforce CRM | 9.8 M | $2.6 bn | 3.29% | +39% |
| 4 | IQVIA Holdings IQV | 11.3 M | $2.6 bn | 3.24% | no change |
| 5 | Airbnb ABNB | 18.7 M | $2.5 bn | 3.22% | +21% |
| 6 | Intercontinental Exchange ICE | 15.6 M | $2.5 bn | 3.20% | +53% |
| 7 | Keurig Dr Pepper KDP | 86.3 M | $2.4 bn | 3.07% | +38% |
| 8 | Warner Bros. Discovery WBD | 78.9 M | $2.3 bn | 2.88% | −18% |
| 9 | ConocoPhillips COP | 24.0 M | $2.2 bn | 2.85% | +27% |
| 10 | Charles Schwab SCHW | 22.0 M | $2.2 bn | 2.79% | +3.7% |
| 11 | First Citizens Bancshares FCNCA | 928,944 | $2.0 bn | 2.53% | +26% |
| 12 | American International Group AIG | 22.1 M | $1.9 bn | 2.40% | +24% |
| 13 | Willis Towers Watson WTW | 5.6 M | $1.8 bn | 2.34% | +31% |
| 14 | Phillips 66 PSX | 14.0 M | $1.8 bn | 2.29% | +2.5% |
| 15 | Targa Resources TRGP | 9.7 M | $1.8 bn | 2.28% | +134% |
| 16 | Elevance Health ELV | 4.8 M | $1.7 bn | 2.13% | +50% |
| 17 | Equifax EFX | 7.6 M | $1.6 bn | 2.08% | +30% |
| 18 | Merck MRK | 14.1 M | $1.5 bn | 1.88% | +43% |
| 19 | Deere DE | 3.1 M | $1.5 bn | 1.85% | +45% |
| 20 | General Motors GM | 17.4 M | $1.4 bn | 1.80% | −17% |
| 21 | Delta Air Lines DAL | 19.7 M | $1.4 bn | 1.73% | +45% |
| 22 | GE Healthcare Technologies GEHC | 15.9 M | $1.3 bn | 1.65% | +44% |
| 23 | Ally Financial ALLY | 27.0 M | $1.2 bn | 1.55% | no change |
| 24 | Wells Fargo WFC | 12.9 M | $1.2 bn | 1.53% | +19% |
| 25 | Citigroup C | 10.0 M | $1.2 bn | 1.49% | −27% |
| 26 | Corteva CTVA | 17.0 M | $1.1 bn | 1.45% | +168% |
| 27 | CBRE Group CBRE | 6.9 M | $1.1 bn | 1.41% | no change |
| 28 | Zimmer Biomet Holdings ZBH | 12.3 M | $1.1 bn | 1.40% | +158% |
| 29 | Bank of America BAC | 19.9 M | $1.1 bn | 1.39% | −27% |
| 30 | Fiserv FISV | 15.6 M | $1.0 bn | 1.33% | +130% |
| 31 | Amazon.com AMZN | 4.5 M | $1.0 bn | 1.31% | +2.5% |
| 32 | Nike NKE | 15.0 M | $953M | 1.21% | +72% |
| 33 | Charter Communications CHTR | 4.3 M | $907M | 1.15% | +24% |
| 34 | Carlyle Group CG | 15.2 M | $898M | 1.14% | +39% |
| 35 | Global Payments GPN | 11.3 M | $878M | 1.11% | +66% |
| 36 | Reinsurance Group of America RGA | 4.3 M | $867M | 1.10% | +27% |
| 37 | Union Pacific UNP | 3.7 M | $846M | 1.07% | +149% |
| 38 | AerCap Holdings AER | 5.8 M | $840M | 1.07% | new |
| 39 | Nasdaq NDAQ | 8.6 M | $837M | 1.06% | +46% |
| 40 | Comcast CMCSA | 27.5 M | $821M | 1.04% | +24% |
| 41 | State Street STT | 6.3 M | $814M | 1.03% | −17% |
| 42 | EOG Resources EOG | 7.4 M | $774M | 0.98% | +62% |
| 43 | Corebridge Financial CRBG | 24.4 M | $735M | 0.93% | +30% |
| 44 | TE Connectivity TEL | 3.2 M | $735M | 0.93% | −19% |
| 45 | Masco MAS | 11.5 M | $730M | 0.93% | +55% |
| 46 | CNH Industrial CNH | 73.4 M | $677M | 0.86% | −7.4% |
| 47 | Marathon Petroleum MPC | 4.0 M | $656M | 0.83% | no change |
| 48 | Lithia Motors LAD | 2.0 M | $654M | 0.83% | no change |
| 49 | CDW CDW | 4.5 M | $616M | 0.78% | ×16 |
| 50 | Amrize AMRZ | 11.4 M | $615M | 0.78% | new |
| 51 | Sysco SYY | 7.9 M | $583M | 0.74% | −4.7% |
| 52 | Becton, Dickinson BDX | 2.8 M | $551M | 0.70% | −8.8% |
| 53 | Genuine Parts GPC | 4.3 M | $535M | 0.68% | +49% |
| 54 | Paycom Software PAYC | 3.2 M | $512M | 0.65% | +69% |
| 55 | Icon ICLR | 2.5 M | $457M | 0.58% | +7.2% |
| 56 | Constellation Brands STZ | 3.2 M | $446M | 0.57% | +58% |
| 57 | Molina Healthcare MOH | 2.3 M | $407M | 0.52% | −13% |
| 58 | Fortune Brands Innovations FBIN | 7.6 M | $382M | 0.49% | −1.4% |
| 59 | Centene CNC | 9.1 M | $372M | 0.47% | no change |
| 60 | Astrazeneca AZN | 3.7 M | $343M | 0.44% | new |
| 61 | Charles River Laboratories International CRL | 1.7 M | $335M | 0.42% | +14% |
| 62 | Alphabet GOOG | 961,570 | $302M | 0.38% | −19% |
| 63 | APA APA | 11.6 M | $285M | 0.36% | −53% |
| 64 | Fomento Economico Mexicano S FMX | 2.7 M | $273M | 0.35% | no change |
| 65 | Visa V | 735,344 | $258M | 0.33% | −2.9% |
| 66 | Mondelez International MDLZ | 4.6 M | $249M | 0.32% | +222% |
| 67 | Gartner IT | 963,984 | $243M | 0.31% | new |
| 68 | Flutter Entertainment FLUT | 1.0 M | $219M | 0.28% | +59% |
| 69 | Liberty Broadband LBRDK | 4.1 M | $202M | 0.26% | −35% |
| 70 | Brunswick BC | 2.4 M | $181M | 0.23% | −28% |
| 71 | Baxter International BAX | 8.4 M | $161M | 0.20% | no change |
| 72 | Ryanair Holdings RYAAY | 2.2 M | $161M | 0.20% | −27% |
| 73 | Sealed Air | 3.8 M | $158M | 0.20% | −28% |
| 74 | Oracle ORCL | 760,995 | $148M | 0.19% | −5% |
| 75 | Celanese CE | 3.4 M | $144M | 0.18% | −1% |
| 76 | ABM Industries ABM | 2.7 M | $115M | 0.15% | −2.1% |
| 77 | THOR Industries THO | 1.1 M | $109M | 0.14% | −2% |
| 78 | Envista Holdings NVST | 4.6 M | $101M | 0.13% | −32% |
| 79 | Vail Resorts MTN | 714,776 | $94.9M | 0.12% | −21% |
| 80 | HCA Healthcare HCA | 181,042 | $84.5M | 0.11% | −18% |
| 81 | Wendy's WEN | 10.0 M | $83.0M | 0.11% | −6% |
| 82 | American Express AXP | 219,077 | $81.0M | 0.10% | −10% |
| 83 | Mastercard MA | 119,031 | $68.0M | 0.09% | −5.4% |
| 84 | Allison Transmission Holdings ALSN | 678,527 | $66.4M | 0.08% | −4.5% |
| 85 | Borgwarner BWA | 1.4 M | $61.9M | 0.08% | −33% |
| 86 | BlackRock BLK | 54,409 | $58.2M | 0.07% | −18% |
| 87 | Warner Music Group WMG | 1.7 M | $50.7M | 0.06% | −20% |
| 88 | KKR KKR | 370,193 | $47.2M | 0.06% | −2.6% |
| 89 | CVS Health CVS | 525,051 | $41.7M | 0.05% | −4.3% |
| 90 | Openlane OPLN | 1.4 M | $41.0M | 0.05% | −18% |
| 91 | Apple AAPL | 133,170 | $36.2M | 0.05% | +3.4% |
| 92 | Ermenegildo Zegna ZGN | 3.2 M | $32.9M | 0.04% | −9.6% |
| 93 | Hilton Worldwide Holdings HLT | 114,415 | $32.9M | 0.04% | −9.5% |
| 94 | Cushman & Wakefield CWK | 2.0 M | $32.1M | 0.04% | −14% |
| 95 | Owens Corning OC | 280,528 | $31.4M | 0.04% | +7.1% |
| 96 | Autoliv ALV | 255,590 | $30.3M | 0.04% | −3.4% |
| 97 | Goldman Sachs Group GS | 33,049 | $29.1M | 0.04% | −10% |
| 98 | Grifols GRFS | 2.7 M | $25.1M | 0.03% | −1.6% |
| 99 | Crown Holdings CCK | 193,110 | $19.9M | 0.03% | +3.5% |
| 100 | Berkshire Hathaway BRK/B | 25,999 | $13.1M | 0.02% | −3.9% |
The 100 largest lines are shown. The other 67 add up to 0.14% of the portfolio; full 13F of Oakmark (Harris Associates) →
Positions it closed (18)
- ACV Auctions ACVAwas 0.06% · 3.8 M shares
- Liberty Capital GLIBKwas 0.02% · 354,597 shares
- Citizens Financial Group CFGwas 0.00% · 15,702 shares
- Taiwan Semiconductor Manufacturing TSMwas 0.00% · 1,185 shares
- Carter’s CRIwas 0.00% · 11,700 shares
- ServiceNow NOWwas 0.00% · 1,700 shares
- Invesco Exchange Traded Fd T RSPwas 0.00% · 1,469 shares
- Cadence Design Systems CDNSwas 0.00% · 790 shares
- Booking Holdings BKNGwas 0.00% · 46 shares
- L3harris Technologies LHXwas 0.00% · 713 shares
- Motorola Solutions MSIwas 0.00% · 469 shares
- Honeywell International HONwas 0.00% · 1,015 shares
- Coca-Cola KOwas 0.00% · 3,190 shares
- Qualcomm QCOMwas 0.00% · 1,266 shares
- Ishares Tr USHYwas 0.00% · 3,795 shares
- Ishares Tr IWRwas 0.00% · 1,000 shares
- Liberty Capital GLIBAwas 0.00% · 2,000 shares
- Ishares Tr EFAwas 0.00% · 468 shares
One row per line of the filing (by CUSIP): share classes of the same company are listed separately here. “Change in shares” compares the count with the previous quarter, split-adjusted; the value is the one reported in the 13F at quarter end, not today's price.
Original documents: Oakmark (Harris Associates)'s 13F filings on EDGAR (SEC) ↗
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Source: 13F filings with the SEC. A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions. Not investment advice.