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Bill Nygren · quarter digest

What Bill Nygren did in Q2 2025

Oakmark Funds filed 69 moves in Q2 2025: 14 new, 24 add, 27 trim, 4 exit.

13F filed 2025-08-14. Manager quality score: q7. Philosophy: Concentrated value. Buy good businesses at a discount to intrinsic value.

← Q1 2025Q2 2025 · fleet digestQ3 2025 →
New positions · 14

Fresh money

NKE
NEW·1.0% book·−2
ZBH
NEW·0.6% book·−1
ABT
NEW·0.0% book·−20
ABBV
NEW·0.0% book·−7
AMD
NEW·0.0% book·−23
AMAT
NEW·0.0% book·−2
AVGO
NEW·0.0% book·−12
LLY
NEW·0.0% book·−6
HDB
NEW·0.0% book·−17
INTU
NEW·0.0% book·−21
PEP
NEW·0.0% book·−10
PG
NEW·0.0% book·−9
SYK
NEW·0.0% book·−13
ZTS
NEW·0.0% book·−1
Adds · 24

Adding to conviction

C
ADD +10%·3.7% book·−6

“Building Citigroup.”

NFLX
ADD +8%·3.4% book·−1

“Building Netflix.”

ABNB
ADD +43%·3.1% book·−14
COP
ADD +7%·2.8% book·−4
KDP
ADD +8%·2.5% book·0
EFX
ADD +12%·2.2% book·+4
WTW
ADD +6%·1.9% book·−6
ALLY
ADD +8%·1.7% book·−3
AMZN
ADD +111%·1.7% book·−6
CRM
ADD +819%·1.3% book·−6
MRK
ADD +22%·1.2% book·−5
DAL
ADD +24%·1.1% book·−11
GPN
ADD +23%·0.9% book·−6
MOH
ADD +47%·0.7% book·−1
BLK
ADD +14%·0.4% book·−7
FLUT
ADD +41%·0.4% book·−7
ADP
ADD +18%·0.0% book·−14
CVX
ADD +35%·0.0% book·−4
XOM
ADD +21%·0.0% book·−7
JPM
ADD +19%·0.0% book·−4
META
ADD +34%·0.0% book·−2
MSFT
ADD +78%·0.0% book·−17
NVDA
ADD +285%·0.0% book·+1
PM
ADD +8%·0.0% book·−20
Trims · 27

Taking chips off

GOOGL
TRIM -6%·4.5% book·−27
SCHW
TRIM -17%·3.4% book·+25
ICE
TRIM -10%·3.1% book·0
CHTR
TRIM -11%·2.4% book·−25
GM
TRIM -15%·2.0% book·−9
FISV
TRIM -6%·1.5% book·−9
PAYC
TRIM -32%·0.8% book·−14
GOOG
TRIM -8%·0.4% book·+2
ORCL
TRIM -7%·0.4% book·−18
RYAAY
TRIM -39%·0.4% book·−13
V
TRIM -8%·0.4% book·−14
HCA
TRIM -21%·0.2% book·−10
CVS
TRIM -86%·0.1% book·0
GS
TRIM -16%·0.1% book·−13
HLT
TRIM -12%·0.1% book·−19
KKR
TRIM -15%·0.1% book·−13
BABA
TRIM -98%·0.0% book·+26
BKNG
TRIM -25%·0.0% book·−8
DHR
TRIM -76%·0.0% book·−18
HHH
TRIM -92%·0.0% book·−9
EFA
TRIM -6%·0.0% book·−1
KR
TRIM -96%·0.0% book·−16
MCO
TRIM -11%·0.0% book·+14
SPY
TRIM -20%·0.0% book·−2
VOT
TRIM -40%·0.0% book·−6
WMT
TRIM -86%·0.0% book·−9
WDAY
TRIM -75%·0.0% book·−36
Exits · 4

Closed positions

LPLA
EXIT·0.0% book·−10
ETSY
EXIT·0.0% book·−7
INTC
EXIT·0.0% book·+1
SEG
EXIT·0.0% book·−4
Current top holdings

Bill Nygren’s book, latest snapshot

#TickerWeight
1COF
Capital One Financial
5.2%
2GOOGL
Alphabet Class A
4.9%
3BAC
Bank of America
4.3%
4C
Citigroup
4.0%
5CMCSA
Comcast
3.8%
6NFLX
Netflix
3.6%
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Other quarters for Bill Nygren
Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024
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Not investment advice. Data from 13F filings with HoldLens parsing. Methodology.

Deep dive

Reading for your research

Optional background reading on interpreting company disclosures and investing methods. These books do not validate a signal or predict returns.

Amazon affiliate links — as an Amazon Associate, HoldLens earns from qualifying purchases and membership trials at no extra cost to you. These are books we genuinely recommend. Not investment advice; always do your own research.

Benjamin Graham
The Intelligent Investor
The foundational text. Buffett calls it 'by far the best book about investing ever written.'
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Benjamin Graham & David Dodd
Security Analysis
The deep dive behind The Intelligent Investor — how to actually read a filing and value a business.
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