Bill Nygren · quarter digest

What Bill Nygren did in Q3 2025

Oakmark Funds filed 64 moves in Q3 2025: 10 new, 19 add, 32 trim, 3 exit.

13F filed 2025-11-14. Manager quality score: q7. Philosophy: Concentrated value. Buy good businesses at a discount to intrinsic value.

← Q2 2025 Q3 2025 · fleet digest Q4 2025 →

New positions · 10

Fresh money

KKR

NEW·2.2% book·−13

“New KKR position — alts.”

UNP

NEW·0.6% book·−4

NEW·0.0% book·−16

IDXX

NEW·0.0% book·−10

MSI

NEW·0.0% book·0

QCOM

NEW·0.0% book·−12

NOW

NEW·0.0% book·+9

TSM

NEW·0.0% book·−2

TMO

NEW·0.0% book·−23

UNH

NEW·0.0% book·−24

Adds · 19

Adding to conviction

ADD +15%·4.0% book·−6

“More Citigroup on turnaround.”

NFLX

ADD +10%·3.6% book·−1

“Netflix profitability story.”

ABNB

ADD +9%·3.0% book·−14

CRM

ADD +135%·2.7% book·−6

KDP

ADD +33%·2.6% book·0

EFX

ADD +14%·2.4% book·+4

WTW

ADD +13%·2.4% book·−6

ELV

ADD +39%·1.7% book·−7

FISV

ADD +27%·1.4% book·−9

MRK

ADD +8%·1.3% book·−5

MOH

ADD +74%·0.8% book·−1

ZBH

ADD +27%·0.8% book·−1

STZ

ADD +17%·0.4% book·−4

DHR

ADD +7%·0.0% book·−18

HDB

ADD +192%·0.0% book·−17

Taking chips off

GOOGL

TRIM -28%·4.4% book·−27

SCHW

TRIM -8%·3.3% book·+25

COF

TRIM -10%·3.1% book·−18

BAC

TRIM -8%·2.2% book·−1

TRIM -17%·2.1% book·−9

AMZN

TRIM -7%·1.5% book·−6

PAYC

TRIM -9%·0.6% book·−14

GOOG

TRIM -13%·0.5% book·+2

CNC

TRIM -55%·0.5% book·−4

ORCL

TRIM -22%·0.4% book·−18

FLUT

TRIM -21%·0.3% book·−7

RYAAY

TRIM -22%·0.3% book·−13

HCA

TRIM -8%·0.2% book·−10

BLK

TRIM -74%·0.1% book·−7

CVS

TRIM -35%·0.1% book·0

HLT

TRIM -15%·0.1% book·−19

AMD

TRIM -18%·0.0% book·−23

BABA

TRIM -14%·0.0% book·+26

ADP

TRIM -50%·0.0% book·−14

AVGO

TRIM -16%·0.0% book·−12

CVX

TRIM -34%·0.0% book·−4

DEO

TRIM -57%·0.0% book·−16

XOM

TRIM -73%·0.0% book·−7

TRIM -44%·0.0% book·−13

HHH

TRIM -53%·0.0% book·−9

EFA

TRIM -13%·0.0% book·−1

TRIM -27%·0.0% book·−16

MCO

TRIM -11%·0.0% book·+14

NVDA

TRIM -10%·0.0% book·+1

PEP

TRIM -15%·0.0% book·−10

SPY

TRIM -13%·0.0% book·−2

VOT

TRIM -61%·0.0% book·−6

Exits · 3

Closed positions

INTU

EXIT·0.0% book·−21

SYK

EXIT·0.0% book·−13

ZTS

EXIT·0.0% book·−1

Current top holdings

Bill Nygren’s book, latest snapshot

#	Ticker	Weight	Conviction
1	COF Capital One Financial	5.2%	−18
2	GOOGL Alphabet Class A	4.9%	−27
3	BAC Bank of America	4.3%	−1
4	C Citigroup	4.0%	−6
5	CMCSA Comcast	3.8%	−3
6	NFLX Netflix	3.6%	−1

Other quarters for Bill Nygren

Q2 2026 Q1 2026 Q4 2025Q3 2025Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024

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Not investment advice. Data from 13F filings with HoldLens parsing. Methodology.

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